Fighting a corrective action plan imposed by RBI for huge non-performing assets (NPAs), UCO Bank is putting its focus on bad loans resolutions. It is also willing to take a 40-45 per cent haircut for bigger cases under the National Company Law Tribunal (NCLT) to keep its books sticky assets free, RK Takkar, managing director and CEO of the bank, (in pic) said.
Plan and Policy
Plan & Policy
The front-loading of Rs 80,000 crore recap bonds proceeds will head towards those banks, which are under low capital adequacy ratio.
The contours of team Rahul Gandhi have begun to emerge as senior leaders, Ghulam Nabi Azad and P. Chidambaram are expected to be appointed as the two vice presidents in the new set-up of office bearers to be announced soon.
Before his elevation as the party president, Rahul Gandhi had held the post of the vice president since 2013 and has functioned as the number two in the organisation.
A fiscal slippage in FY18 will likely result in the government opting to go for a wider gap for 2018-19 in the upcoming budget, according to foreign lender DBS on Thursday.
The fiscal deficit number for 2017-18 will come at 3.5 per cent against the targeted 3.2 per cent of the GDP (gross domestic product) and it will result in the government opting to settle for a target of 3.2-3.3 per cent rather than the 3 per cent under the fiscal consolidation roadmap.
BSF troops on Thursday destroyed two Pakistani posts in retaliation to the killing of its jawan in unprovoked firing and foiled an infiltration bid, killing an intruder along the International Border (IB) in Jammu district. Following the killing, the force launched “Operation Alert” along the over 200-km long IB) to curb the increasing movement of infiltrating militants from across the border.
Pakistan on Thursday released another video of Kulbhushan Jadhav in which he purportedly claimed that he has not been harmed in custody, prompting a strong reaction from India, which called it a “propagandistic exercise” by Islamabad that simply carried no credibility.
The Congress on Thursday accused the Narendra Modi government of not passing on to consumers the benefits of revenue it has earned by hiking excise duty on oil products, saying it garnered over Rs 5.5 lakh crore and should tell the people what it has done with the money.
Mallikarjun Kharge, Congress leader, raised the issue in the Lok Sabha, noting that the price of crude was $110 per barrel in March 2014, two months before the BJP came to power, which had come down to $40 in June 2016. It was $60 on Wednesday, he said.
India and Thailand may have to give freer rein to the rupee and baht this year to avoid triggering US accusations that they’re manipulating their currencies to support exports. The Reserve Bank of India has already exceeded a key threshold on how much it can intervene to curb the rupee’s gains that the US monitors, according to Nomura Holdings Inc.
Policymakers in Thailand have also passed this level with the baht, said Bank of Tokyo-Mitsubishi UFJ.
Artificial intelligence (AI) may have endangered the IT job market in India, but that has not deterred the government from going ahead investing on the machines.
The day-long Maharashtra bandh to protest the violence post an event to mark 200th anniversary of Bhima Koregaon battle, was called off on Wednesday evening. Bharipa Bahujan Mahasangh leader and Dalit icon BR Ambedkar's grandson Prakash Ambedkar, who had called the bandh, told reporters that nearly 50 per cent of the state’s population took part in the shut-down. Road blockades, arson and stone-pelting incidents were reported in Mumbai and elsewhere during the day. However, Ambedkar, claimed that the bandh was peaceful.