-Live Mint State govt says did not receive notice from SC before order was issued; SKS shares fall 19.63% in intra-day trade Mumbai: Andhra Pradesh, once the largest market for microlenders and home to India's lone listed such institution SKS Microfinance Ltd, said on Thursday it would challenge the Supreme Court's recent interim order allowing the company to resume operations in the southern state, driving the stock down by almost 20%...
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CAG picks holes in Narendra Modi’s Gujarat development plan -Ajay Umat
-The Times of India AHMEDABAD: At a time when NarendraModi's development model is under national spotlight, the Comptroller and Auditor General (CAG) has criticized his government in Gujarat for imprudent fiscal management. It has underlined a need for greater professionalism and accountability in the functioning of the government and asked it to be more alert and responsive. The national auditor has said the state government has incurred 41% higher debt than the...
More »RBI dismisses money-laundering charges
-PTI The Reserve Bank on Thursday sought to downplay the money-laundering allegations against three private sector Banks, saying the country has a "perfect" system to prevent such offences and that not a single such transaction took place in the sting operation. The country's three largest private Banks -- ICICI bank, HDFC Bank and Axis Bank -- were last week accused of indulging in money laundering both within and outside with an online...
More »FM P Chidambaram warns rich promoters on loan defaults
-The Economic Times Finance Minister P Chidambaram has warned corporate bigwigs against wilful defaults, reminding promoters that it was their duty to bring in additional capital if their companies got into trouble. "We cannot have an affluent promoter and a sick company," he said, in an apparent reference to the collapse of Kingfisher Airlines, owned by the flamboyant Vijay Mallya. Banks are stuck with nearly Rs 7,000 crore worth of loans they...
More »Govt proposes to bring Bill to regulate surrogacy: Azad
-PTI The government on Tuesday said it proposes to bring a Bill to monitor the services of Assisted Reproductive Technology (ART) clinics and Banks to regulate surrogacy in the country. “A draft Assisted Reproductive Technology (Regulation) Bill has been formulated and sent to Ministry of Law and Justice for concurrence,” Minister for Health and Family Welfare Ghulam Nabi Azad said in a written reply in Rajya Sabha. He said in order to monitor...
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