Days ahead of the September 1 deadline, insurance companies are worried about the lack of clarity in pricing and paucity of time to implement the mandatory long-term third party motor insurance for new private vehicles.
Plan and Policy
Plan & Policy
Sensing that the Reserve Bank of India (RBI) may not budge from its hard position on giving relief to stressed power assets, the finance ministry, along with the power ministry, is mulling a proposal to auction some of these power plants. It has also favoured higher reserve price for these assets to help debtors realise maximum value and prevent distress sale of power plants having potential to generate cash quickly.
US private equity firm Blackstone Group LP is in talks to acquire a stake in the frequent-flier loyalty programme of Jet Airways (India) Ltd, Bloomberg reported on Wednesday, citing people familiar with the matter.
A potential deal could value the loyalty programme, Jet Privilege Private Ltd, between Rs 3,000 crore and Rs 4,000 crore ($429.1 million-$572.1 million) and would be dependant on Jet Airways securing adequate funding for its airline operations, Bloomberg said.
Companies offering magic pills for ailments ranging from common illness to life threatening diseases such as cancer and AIDS are now under the government scanner. The I&B ministry through advisories has asked television channels not to air their promos.
Alongside fake and substandard medicines, the market of magic pills has been thriving on misleading and false claims. It has emerged a big menace with social media and sponsored content in TV fuelling the growth of magic pills.
As part of its effort to contain rising non-performing assets (NPAs), the RBI has started scrutiny of 200 large accounts to assess the level of stress and provisioning done against them by respective banks.
The Reserve Bank of India (RBI) is examining as to whether banks have followed prudential norms in respect of these stressed assets, a senior public sector bank official said. It is also assessing classification, provisioning and debt recast in respect of those loans, the official added.
The government may get a legal framework for conducting simultaneous polls for the Lok Sabha and state assemblies as the law panel is said to be ready with the recommendations to make amendments in the existing laws to make it possible.
As the Modi government is keen to have Lok Sabha and assembly polls together, it will require constitution amendment and changes in the Representation of the People Act.
Rejecting reports that it considered conducting assembly polls in 11 states along with the next Lok Sabha election, the BJP on Tuesday asserted that it was in favour of holding simultaneous elections with consensus among different stakeholders and in accordance with law.
Proposing a policy on pre-determined tariff for upcoming public-private partnership (PPP) airports, the government has promised lower airport charges to make flying more affordable. It seeks to make the new regime more investor-friendly by allowing 10 per cent land of the airport for real estate and commercial development.
Wholesale inflation eased to 5.09 per cent in July on account of cheaper food articles, especially fruits and vegetables, government data showed on Tuesday.
The finance ministry and the Reserve Bank of India (RBI) are in consultations to increase the open market operations (OMO) by the central bank in the second half of the current financial year to boost liquidity in the system.