Wilful defaulter tag a ‘powerful weapon’ for creditors
Reserve Bank of India Governor Raghuram Rajan has said the wilful defaulter tag is a powerful weapon in the hands of banks for resolving bad loans. His comments came days after United Bank of India declared Vijay Mallya as ‘wilful defaulter’. “The wilful defaulter tag is a powerful weapon in... read more »
Slow governance responsible for decline in growth: Rajan
Attributing decline in economic growth to “slow governance” and faulty allocation of natural resources, Reserve Bank of India (RBI) Governor Raghuram Rajan has said gross domestic product (GDP) will improve to 7 per cent in the next three years on the back of political stability. “The sharp... read more »
Power Ministry floats Cabinet note on coal price pooling
The Power Ministry has floated Cabinet note for pooling of imported and domestic coal for deciding price of the raw material for plants commissioned after 2009, a proposal aimed at meeting increasing demand for the dry fuel. The ministry is of the view that pre-2009 plants should not be included in... read more »
Maruti to pay royalty to Suzuki in INR
Maruti Suzuki India, on Thursday, said it would pay royalty to parent Suzuki Motor Corp for all future models in Indian rupees instead of Japanese yen to mitigate risks due to foreign exchange fluctuations. Addressing the company’s 33rd annual general meeting in New Delhi, its Chairman R. C.... read more »
