Finance

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5,954 wilful defaulters face recovery action from PSU banks

Total outstanding loans due to public sector banks by wilful defaulters amounted to Rs 92,376 crore, according to the finance ministry data.

Aug 27, 2017

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Rate scare for savers: Not just FDs, an array of small savings become unattractive

A 25 bps RBI rate cut on December 6, the date of the next monetary policy review, appears a definite possibility.

Aug 21, 2017

Talks fail, banks going ahead with August 22 strike

Not happy with government's response to protests against bank consolidation and corporate NPAs.

Aug 20, 2017

Crash course: GST website back on line after buckling under filing stampede

The last date for businesses to file the GSTR-3B form for July is 20 August.

Aug 19, 2017

Cracking 'shells': Can Sebi bring Launderers Anonymous to book with sheer zeal?

SEBI and investors face uncertain tides as the market regulator weeds out shell firms in the corporate ocean.

Aug 14, 2017

Auditing the auditors: RBI raises questions about differences in loan write-downs

In some cases, the apex bank also doubted the provisioning methodology and non-performing asset (NPA) figures arrived at by the auditors at a few public sector banks.

Aug 14, 2017

Security alarm: What made Indian Inc shell out on cyber insurance?

Earlier, the trend was different with only IT and banking companies would purchase cyber insurance, as their business in developed countries required them to comply with data protection regulations.

Aug 13, 2017

13,000 shell companies were identified prior to SEBI ban

Of the 331 firms facing trading curbs, 162 were actively traded while 169 were suspended for various violations of the listing agreement.

Aug 12, 2017

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RBI's dividend to Modi-led government halves to Rs 30,659 crore

RBI's dividend to the government halved to Rs 30,659 this year from Rs 65,876 crore last year, propelled by the high cost of printing new currency notes.

Aug 11, 2017

$23 bn Idea-Vodafone merger gets conditional go-ahead from exchanges

Idea has given a voluntary undertaking to Sebi that it will not dispose of shares purchased by one of its promoters before the merger announcement.

Aug 8, 2017

General Insurance Corp files for IPO, may raise over $1 bn

Will issue 124.7 mn shares comprising 14.22 percent of capital.

Aug 7, 2017

Bad loans meet: Lenders to discuss future of defaulters identified by RBI

Most of the debt is unsustainable and so high that these companies won't be able to repay it in next 25-30 years.

Aug 7, 2017

Syndicate Bank posts June quarter net loss of Rs 263 crore

Total income during the first quarter of 2017-18 also fell to Rs 6,171.49 crore

Aug 5, 2017

SBI-led consortium orders forensic audit of Videocon's financial books

The debt restructuring process would commence only after KPMG concludes the audit.

Aug 4, 2017

Letting go, slowly: Govt to divest up to 25% stake in 4 defence firms via IPO floats

The government has so far sold equity in Hindustan Copper, Cochin Shipyard, HUDCO, L&T and the Dredging Corporation, among others.