India Blog News - Page 11

Exclusive: In unravelling Nirav Modi's PNB moves, fresh evidence shows lender is playing the victim card

The investigators suspect that Nirav Modi and his uncle Mehul Choksi all along knew that one day the loot would be unraveled and started plotting to erase the evidence linking them and frame others in the fraud.

Exclusive: Unravelling billionaire fugitive Nirav Modi's tightly woven round-tripping cobweb

The CBI charge sheet reviewed by Firstpost gave cursory details of Modi’s modus operandi, however, the investigators said they have penetrated Modi’s cobweb.

Bank fraud: 21 PSBs incurred losses of Rs 25,775 cr in FY 2017-18, with PNB highest at Rs 6,461 cr, says RTI response

The Reserve Bank of India (RBI) has clarified in the RTI that only those cases of fraud, involving a sum of over Rs 1 lakh, were included in the list.

Sterlite project received clearances before I assumed charge as environment minister in May 2009, says Jairam Ramesh

Former Union Environment Minister Jairam Ramesh on Sunday rejected reports in a section of the media that he had a role in granting clearance to the controversial Sterlite copper plant in Tuticorin.

India in 'good position' to face fallout from possible trade tensions, with right policies can reach over 8% growth: UN economist

If global trade is impacted negatively due to trade tensions in the near future, "India is in a good position to navigate it," Sebastian Vergara, the United Nations Economic Affairs Officer, said

Here's why fuel should be brought under GST: Price per litre will drop by Rs 22 in Delhi, Rs 32 in Mumbai

Bringing petroleum products under GST brooks no delay. All that it requires is convening of the GST council meeting immediately

Four years of Narendra Modi: India’s economy, on a roller coaster ride, is now at the mercy of crude oil gods

If the government fails to bottle the inflation genie, it will be politically disastrous for Narendra Modi and his party in an election year.

Sensex builds on gains, up 187 points in early trade, Nifty climbs up, oil stock recover

Forex dealers said, besides increased selling of the American currency by exporters as well as banks, a higher opening in the domestic equity market supported the rupee.

Idea-Vodafone merger comes closer as DoT clears Rs 4,000 cr Idea-ATC mobile tower deal

The standalone tower businesses of Vodafone and Idea have a combined portfolio of nearly 20,000 towers, which included around 10,200 towers of Vodafone and the rest of Idea.

Jet Airways may see a rise in debt over next two quarters, could be a short-term blip, says CFO Amit Aggarwal

With Jet Airways incurring a huge fourth-quarter loss of Rs 1,036 crore on high oil prices and weaker rupee, its auditors have said the "appropriateness of assumption of going concern" for the company depends on its ability to raise necessary funds, among other factors.

Petrol, diesel rate hike: Devendra Fadnavis wants fuel to be brought under GST ambit, says will ensure price 'reduction'

Maharashtra has already given its consent for bringing petrol and diesel under the purview of GST which was rolled out on 1 July last year but "other states have not given their consent yet," Fadnavis said

PNB fraud case: ED files first chargesheet against Nirav Modi, associates; expected to file another against Mehul Choksi

The criminal complaint has been filed against Nirav Modi, his associates and businesses and the entire gamut of issuance of fake Letters of Undertaking (LoUs) by Punjab National Bank (PNB) to his firms in alleged connivance of bank officials.

Narendra Modi sarkar's Digital India record is a chequered one; it sells continuity as change and trades eyesight for vision

Deeper questions remain on where Digital India is heading with global giants including Google, Facebook, Amazon and Microsoft going great guns in India but there is also a looming fear of "data colonisation" of India by giants with powerful technologies

Petrol, diesel at record high: Rejig taxes to keep fuel rates low but do not arm twist oil companies on pricing

The gains the government made by hiking taxes when prices were low must be paid back to the consumer.

Petrol, diesel prices at record high: P Chidambaram's formula on steep rate cut is at best wishful thinking; game is tough on ground

Did Chidambaram or his government ever set about on a war-footing to do anything concrete about either strengthening the dollar or augmenting our oil resources or in making efforts to break away from hydrocarbon oil dependency

Cabinet approves IBC amendment: Why recognising homebuyers as financial creditors is not going to solve the mess

Sensex recoups 153 points on global cues, Nifty moves up; Re rebounds from 18-month low, up 12 paise against dollar

The 30-share Sensex rose 152.81 points, or 0.44 percent, to 34,497.72, with sectoral indices IT, tech, capital goods, healthcare, power, consumer durables, bankex and realty advancing by up to 1.77 percent.

PNB fraud: Bank accuses Nirav Modi, team of rigging US bankruptcy auction; moves New York court

PNB has also claimed that before filing bankruptcy petition, Modi’s right hand man Mihir Bhansali was in touch with the fugitive diamantaire

India moves one notch up to 44th rank in IMD's competitiveness rankings, US tops list

The IMD World Competitiveness Center, a research group at IMD business school in Switzerland, has published the rankings every year since 1989.

Petrol, diesel rates: Govt is taking issue seriously, will come out with a solution in 3-4 days, says BJP president Amit Shah

Petrol costs Rs 76.87 per litre in Delhi and diesel costs Rs 68.08 a litre. In the past nine days, petrol price has risen by Rs 2.24 a litre and diesel by Rs 2.15.

Petrol, diesel at record high: States must rise to the occasion to rein in shooting fuel prices

The BJP is in power in 21 states. It can exhort its state governments to sharply reduce the VAT rates on petroleum products if only to neutralize the impact of the rampaging price

SBI Q4 results: Bad loans aren't necessarily a bad word, but what's next for state-run lenders?

To salvage PSBs, the government first needs to get them out of its control and let the private sector take over these banks

Sensex down 61 points in opening trade on heavy selling in metals, realty, energy, auto stocks; Rupee falls to fresh 16-month low

The 30-share index dropped 60.79 points or 0.17 percent to 34,590.45. The gauge had gained 35.11 points in the previous session.

Petrol, diesel rates: Union minister Shiv Pratap Shukla says govt is trying to bring down fuel prices

The Union minister said the recent hikes in fuel prices are a result of global crude oil price increase and US sanctions on Iran, even as he stressed that the government was "finding a way out"

Air India disinvestment: Govt may not sell ailing national carrier if it does not get 'adequate' price, says aviation secretary

While the deadline for submission of Expression of Interest (EoI) in Air India ends on 31 May, the secretary said the Request for Proposal could be issued after 15 June.

SoftBank confirms selling 'entire stake' of over 20% in Flipkart to Walmart, to rake in around $4 bn from sale

While SoftBank is now exiting Flipkart, it continues to be a significant investor in Flipkart's rival Paytm Mall. Reports suggest after the closure of the Flipkart deal, SoftBank could look at pumping in funds into Paytm Mall.

State Bank of India sees rebound after record Rs 7,718 cr net loss; 'year of hope', says chairman Rajnish Kumar

State Bank of India which accounts for more than a fifth of India’s banking assets said it aims to grow loans at an annual average of 12 percent through March 2020, nearly halve its gross non-performing loan ratio, bring down provisioning costs and improve margins.

Air Passenger Charter: Govt promises relief on cancellation charges, refunds for delays and cheaper F&B at airports

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