-ENS Economic Bureau At a time when companies such as Kingfisher Airlines and Suzlon Energy have defaulted on bank loans, finance minister P Chidambaram on Tuesday made a strong pitch for individual borrowers with low income, asking banks and financial institutions to not hesitate in giving loans to them. “The poor in India are not bad borrowers. The poor in India are not dishonest borrowers. The poor in India are ethical, honest...

-The Economic Times MUMBAI: The Reserve Bank of India has revised the definition of priority sector to include corporates engaged in agriculture and allied activities, and amended the limits for certain categories. In a circular issued to commercial banks on Wednesday, the RBI has clarified that loans to corporates, including companies formed by individual farmers, partnership firms and co-operatives of farmers directly engaged in agriculture and allied activities, will now be considered...

-The Hindu Property empire was built on soft loans handed out in unusual circumstances, documents show In February, as rumours of the ambitions of Congress president Sonia Gandhi’s son-in-law swirled amidst the heat and dust of the election campaign in Uttar Pradesh, her daughter Priyanka moved to scotch speculation about Robert Vadra’s possible political future. “He’s a successful businessman,” the younger Ms. Gandhi said of her husband, “who is not interested in changing...

-The Hindu FDI cap in insurance raised to 49%; foreign investment in pension sector allowed; new Companies Bill 2011 cleared Notwithstanding the strong opposition to its reforms agenda, the Manmohan Singh government on Thursday pressed ahead with more big-ticket reforms, raising the FDI cap in the insurance sector to 49 per cent, opening up the pension sector for foreign investment and clearing the Companies Bill, 2011. It also approved amendments to the...

-PTI In another round of big-ticket reforms, the Union Cabinet will consider on Thursday raising the FDI cap in insurance sector to 49% and opening the pension sector to foreign investment besides creation of a National Investment Board. The Cabinet will also consider a number of other crucial measures like giving more powers to commodity market regulator FMC, Competition Bill to bring all sectors under Companies Act, and model tripartite agreement for operationalising...