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Pakistan May Hand Over Karachi Port Terminals To UAE For Funds: Report
Cash-strapped Pakistan has constituted a negotiation committee to finalise a deal with the UAE for handing over its Karachi port terminals as it seeks to raise an emergency fund amid uncertainty over the revival of a stalled loan from the IMF.
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Jio Emergency Data Loan Facility Launched, Offers Up to 5GB of High-Speed Internet Access on Pay-Later Basis
Jio users on its prepaid service can now avail instant high-speed data on loan and pay for it later. The new facility, called Emergency Data Loan, is available for access through MyJio app.
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Covid Pandemic: Centre Enhances Scope of Emergency Credit Scheme
As per RBI's guidelines, who had availed loans under the initial ECLGS, for four years, will now be able to avail loans for a tenure of five years.
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Japan To Extend Emergency Loan For India To Fight COVID-19 Pandemic
Japan on Monday said it will extend emergency loan support of upto 50 billion yen towards India's response to the Covid-19 pandemic that includes implementation of health and medical policy.
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BSNL Now Offers Up to Rs. 50 Credit as Talktime Loan: Report
BSNL (Bharat Sanchar Nigam Limited) has reportedly increased the limit of its Talktime Loan facility to Rs. 50. As the name suggests, the service allows BSNL prepaid subscribers to avail loan of various denominations for emergency situations.
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Another Bank Defaulter Flees Country, SBI Complains To CBI After 4 Years
A company whose owners fled the country with over Rs 400 crore in unpaid loans borrowed from the State Bank of India (SBI) and other banks has emerged as the latest example of a mega defaulter evading action. The owners of Delhi-based Basmati rice exporter Ram Dev International Limited, investigated by the CBI for allegedly defaulting on loans from...
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Jet Airways Suspends Operations, Hopes To Be Back Soon: 10 Points
Jet Airways, once India's top airline now hit by a debt-crisis, said on Wednesday that it was suspending operations temporarily, having failed to secure emergency funds from its lenders. The airline, saddled with more than Rs 8,000 crore of bank debt, has been teetering for weeks after failing to receive a stop-gap loan of about Rs 1,500 crore from...
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RBI Meet Agrees To Address Centre's Call To Share Surplus: 10 Points
The Reserve Bank of India's board met for more than nine hours in Mumbai today in the middle of an unprecedented power tussle between the government and the central bank. Sources say the meeting, which brought RBI chief Urjit Patel face-to-face with several nominees of the government, ended on a conciliatory note, with the central bank agreeing to ...
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Rotomac Pens Owner, Accused Of Rs 3,700-Crore Fraud, Raided By CBI
After billionaire jeweller Nirav Modi, industrialist Vikram Kothari, the promoter of Rotomac Pens, is being investigated by the CBI for defaulting on more than Rs 3,700 crore in loans from government banks. Investigators raided Vikram Kothari's home and establishments in Uttar Pradesh's Kanpur around daybreak, hours after the CBI filed a First Info...
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CBI Asks Interpol To Help Arrest Nirav Modi Who Is In New York: 10 Facts
The CBI today asked Interpol for help to arrest celebrity jeweller Nirav Modi, who is being investigated for what is emerging as India's biggest bank fraud. Nirav Modi and his associates are accused of getting Punjab National Bank (PNB) officials to facilitate huge loans using fake guarantees, at the cost of Rs 11,300 crore in public money. The pas...
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Priyanka Chopra Seeks Legal Opinion On Exiting Deal With Nirav Modi
Priyanka Chopra, roped in last year as ambassador for Nirav Modi's jewellery designer brand, hasn't sued the billionaire but is getting legal opinion to cancel her deal, the actor's spokesperson said after the 48-year-old emerged as the target of a massive probe into an 11,000 crores scandal.
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Goods And Services Tax To Help Push Growth Above 8%, Says IMF: 10 Points
The Goods and Services Tax regime that the government targets to roll out from 1 July could help push India's growth rate to above the eight per cent-mark in the medium term, the International Monetary Fund has said, painting a bright outlook for the Indian economy. Tao Zhang, the IMF's Deputy Managing Director believes India has made significant p...
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BRICS Bank Approves First Loans, $811 Million for Green Energy: Report
The New Development Bank (NDB), formed by the BRICS group of emerging nations, has approved its first loans - $811 million for renewable energy projects in Brazil, China, India and South Africa, Russian news agencies reported on Saturday.
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Wilful Defaulters Owe Rs 64,300 Crore to Public Sector Banks: Government
Minister of State for Finance Jayant Sinha on Friday told the Lok Sabha that wilful defaulters owed around Rs 64,300 crore to public sector banks (PSBs) and that 115 cases have emerged where bank officials have connived with the borrowers.
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Why PM Modi's Bank-Accounts-for-All Project is a Huge Challenge
In developed nations, bank branches are everywhere. But banking services in India leave out nearly half the 1.2 billion population, putting poor people at the mercy of moneylenders who charge usurious interest for emergency loans for sickness or routine purchases such as buying seeds.
-
Pakistan May Hand Over Karachi Port Terminals To UAE For Funds: Report
Cash-strapped Pakistan has constituted a negotiation committee to finalise a deal with the UAE for handing over its Karachi port terminals as it seeks to raise an emergency fund amid uncertainty over the revival of a stalled loan from the IMF.
-
Jio Emergency Data Loan Facility Launched, Offers Up to 5GB of High-Speed Internet Access on Pay-Later Basis
Jio users on its prepaid service can now avail instant high-speed data on loan and pay for it later. The new facility, called Emergency Data Loan, is available for access through MyJio app.
-
Covid Pandemic: Centre Enhances Scope of Emergency Credit Scheme
As per RBI's guidelines, who had availed loans under the initial ECLGS, for four years, will now be able to avail loans for a tenure of five years.
-
Japan To Extend Emergency Loan For India To Fight COVID-19 Pandemic
Japan on Monday said it will extend emergency loan support of upto 50 billion yen towards India's response to the Covid-19 pandemic that includes implementation of health and medical policy.
-
BSNL Now Offers Up to Rs. 50 Credit as Talktime Loan: Report
BSNL (Bharat Sanchar Nigam Limited) has reportedly increased the limit of its Talktime Loan facility to Rs. 50. As the name suggests, the service allows BSNL prepaid subscribers to avail loan of various denominations for emergency situations.
-
Another Bank Defaulter Flees Country, SBI Complains To CBI After 4 Years
A company whose owners fled the country with over Rs 400 crore in unpaid loans borrowed from the State Bank of India (SBI) and other banks has emerged as the latest example of a mega defaulter evading action. The owners of Delhi-based Basmati rice exporter Ram Dev International Limited, investigated by the CBI for allegedly defaulting on loans from...
-
Jet Airways Suspends Operations, Hopes To Be Back Soon: 10 Points
Jet Airways, once India's top airline now hit by a debt-crisis, said on Wednesday that it was suspending operations temporarily, having failed to secure emergency funds from its lenders. The airline, saddled with more than Rs 8,000 crore of bank debt, has been teetering for weeks after failing to receive a stop-gap loan of about Rs 1,500 crore from...
-
RBI Meet Agrees To Address Centre's Call To Share Surplus: 10 Points
The Reserve Bank of India's board met for more than nine hours in Mumbai today in the middle of an unprecedented power tussle between the government and the central bank. Sources say the meeting, which brought RBI chief Urjit Patel face-to-face with several nominees of the government, ended on a conciliatory note, with the central bank agreeing to ...
-
Rotomac Pens Owner, Accused Of Rs 3,700-Crore Fraud, Raided By CBI
After billionaire jeweller Nirav Modi, industrialist Vikram Kothari, the promoter of Rotomac Pens, is being investigated by the CBI for defaulting on more than Rs 3,700 crore in loans from government banks. Investigators raided Vikram Kothari's home and establishments in Uttar Pradesh's Kanpur around daybreak, hours after the CBI filed a First Info...
-
CBI Asks Interpol To Help Arrest Nirav Modi Who Is In New York: 10 Facts
The CBI today asked Interpol for help to arrest celebrity jeweller Nirav Modi, who is being investigated for what is emerging as India's biggest bank fraud. Nirav Modi and his associates are accused of getting Punjab National Bank (PNB) officials to facilitate huge loans using fake guarantees, at the cost of Rs 11,300 crore in public money. The pas...
-
Priyanka Chopra Seeks Legal Opinion On Exiting Deal With Nirav Modi
Priyanka Chopra, roped in last year as ambassador for Nirav Modi's jewellery designer brand, hasn't sued the billionaire but is getting legal opinion to cancel her deal, the actor's spokesperson said after the 48-year-old emerged as the target of a massive probe into an 11,000 crores scandal.
-
Goods And Services Tax To Help Push Growth Above 8%, Says IMF: 10 Points
The Goods and Services Tax regime that the government targets to roll out from 1 July could help push India's growth rate to above the eight per cent-mark in the medium term, the International Monetary Fund has said, painting a bright outlook for the Indian economy. Tao Zhang, the IMF's Deputy Managing Director believes India has made significant p...
-
BRICS Bank Approves First Loans, $811 Million for Green Energy: Report
The New Development Bank (NDB), formed by the BRICS group of emerging nations, has approved its first loans - $811 million for renewable energy projects in Brazil, China, India and South Africa, Russian news agencies reported on Saturday.
-
Wilful Defaulters Owe Rs 64,300 Crore to Public Sector Banks: Government
Minister of State for Finance Jayant Sinha on Friday told the Lok Sabha that wilful defaulters owed around Rs 64,300 crore to public sector banks (PSBs) and that 115 cases have emerged where bank officials have connived with the borrowers.
-
Why PM Modi's Bank-Accounts-for-All Project is a Huge Challenge
In developed nations, bank branches are everywhere. But banking services in India leave out nearly half the 1.2 billion population, putting poor people at the mercy of moneylenders who charge usurious interest for emergency loans for sickness or routine purchases such as buying seeds.
