-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%...

-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...

-Live Mint Experts say private banks achieve lending obligations by buying out loans from non-banking entities Most private banks in India have not been able to meet the needs of farmers although they are expanding their rural and semi-urban branch network. This is why the Reserve Bank of India (RBI) is insisting that at least one-fourth of the branches of the new banks that will be given a licence must be located...

-First Post In an interview with Firstpost, Ajay Chhibber, Regional Director of the UNDP, tells us why India ranks low on the Human Development Index, below China, Sri Lanka and Iran, what we need to do to improve our standing and why welfare schemes are not to be blamed for poor growth or inflation. Excerpts from the interview: * Why does India lag other BRIC countries in the HDI ratings? Compared to the other...

-The Economic Times  The finance ministry has told all state-run banks to disclose their 50 largest bad loans to help them make a recovery plan and establish a system for zero tolerance against wilful defaulters. In a recent meeting with heads of state-run banks, new financial services secretary Rajiv Takru told them to furnish details of their top 50 non-performing assets (NPAs), including loan sanctioning officer, terms of loan, the collateral furnished...