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Government eyes cleanup of bad debt mountain as wary state banks hesitate

May 05, 2016 at 13:30 | Source: FirstPost

Governmentis considering setting up an independent panel to help state-owned banks negotiate settlements with big businesses on bad loans.India's $121 billion troubled debt pile, over $100 billion of which is on the books of state-owned banks, has co...

BJP faces vote-bank dilemma: Appease upper caste or woo dominant class?

May 05, 2016 at 12:14 | Source: FirstPost

Bharatiya Janata Partys penchant for caste appeasement of Gujjars in Rajasthan, Jats in Haryana, and Patidars in Gujarat is turning out to be just the flip side of the minority appeasement that it has accused the Congress of, over the last six deca...

India eyes cleanup of bad debt mountain as wary state banks hesitate

May 05, 2016 at 08:40 | Source: FirstPost

India is considering setting up an independent panel to help state-owned banks negotiate settlements with big businesses on bad loans.India's $121 billion troubled debt pile, over $100 billion of which is on the books of state-owned banks, has come u...

Epic wildfire threatens to engulf Canadian city as 88,000 flee| Reuters

May 05, 2016 at 05:46 | Source: FirstPost

GREGOIRE LAKE, Alberta A massive wildfire that has forced the evacuation of all 88,000 people in the western Canadian oil city of Fort McMurray and burned down 1,600 structures has the potential to destroy much of the town, authorities said on Wednes...

Hong Kong cracks down on illegal money flows from China trade | Reuters

May 05, 2016 at 05:45 | Source: FirstPost

HONG KONG Hong Kong is conducting a multi-pronged customs, shipping and financial sector crackdown against so-called fake trade invoicing that allows billions of dollars of capital to leave China illegally.Hong Kong's central bank told Reuters it has...

Aging Thailand takes toll on indebted households| Reuters

May 05, 2016 at 04:30 | Source: FirstPost

BANGKOK Thai civil servant Supapan Pullbangyung spends just under half of her salary on caring for her 75-year-old father, who suffers from diabetes and dementia.Hers is one of many Thai families looking after elderly relatives at a cost that country...

Ageing Thailand takes toll on indebted households| Reuters

May 05, 2016 at 04:16 | Source: FirstPost

BANGKOK Thai civil servant Supapan Pullbangyung spends just under half of her salary on caring for her 75-year-old father, who suffers from diabetes and dementia.Hers is one of many Thai families looking after elderly relatives at a cost that country...

Raging wildfire bears down on Canadian city as 88,000 flee| Reuters

May 05, 2016 at 02:17 | Source: FirstPost

ANZAC, Alberta A massive wildfire that has forced the evacuation of all 88,000 residents of the western Canadian city of Fort McMurray and burned down 1,600 structures has the potential to destroy much of the town, authorities said on Wednesday.Fort ...

Govt to use Aadhaar, Jan Dhan to deliver benefits to unorganised workers

May 02, 2016 at 18:32 | Source: FirstPost

New Delhi: The government is working on a plan to offer benefits such as insurance and pension to over 40 crore unorganised workers in India using Aadhaar, Jan Dhan accounts, and the existing platform without going for smart cards."In view of th...

For the two-wheeler rider: Madras HC dismisses review plea against helmet rule

May 02, 2016 at 18:10 | Source: FirstPost

Chennai:The Madras High Court has dismissed areview petition against its June, 2015 order making wearing ofhelmet compulsory for two-wheeler riders in Tamil Nadu.Justice N Kirubakaran also came down heavily on thepetitioner, an advocate, for making u...

The case of Salman Khan missing from 'Sarbjit': How biopics 'enhance' their real life inspirations

May 02, 2016 at 11:48 | Source: FirstPost

The recent news of actor Salman Khans efforts to free Sarabjit Singh (an Indian national tried and sentenced to death by Pakistan for his alleged role in a series of bomb blasts in Lahore and Faisalabad in 1990), being left out from an upcoming film ...

ICICI Bank's dim view of bad loans drives quarterly profit to decade low| Reuters

Apr 29, 2016 at 23:15 | Source: FirstPost

MUMBAI ICICI Bank (ICBK.NS), India's largest private sector lender, expects more loans made to sectors like steel may sour, a belief that forced it to set aside a bigger sum to cover any losses from them and drove its quarterly profit down to a decad...

EPFO, LIC buy one-sixth of India's power debt| Reuters

Apr 29, 2016 at 00:30 | Source: FirstPost

NEW DELHI India's largest state insurer and its pension fund together bought about one-sixth of the bonds issued by regional governments for their power companies last fiscal year, a minister said on Thursday.A bail-out plan launched last year for mo...

NHPC share sale opens to 41 lakh bids from retail investors

Apr 28, 2016 at 11:53 | Source: FirstPost

New Delhi: Government's 11.36 per cent stake sale in NHPC opened for bidding by retail investors this morning with a subscription of over 41.02 lakh shares in early hours of trade.However, the NHPC stock slipped below the floor price of Rs 21.75 in a...

India slaps anti-dumping duty on telecom gear from Huawei, ZTE, Alacatel

Apr 27, 2016 at 12:26 | Source: FirstPost

New Delhi: India has imposed anti-dumpingduty on import of telecom gear from Chinese firms Huawei, ZTECorp and Alcatel Lucent to protect domestic industry fromcheap shipments.The restrictive duty imposed on import of 'SynchronousDigital Hierarchy Tra...

'Need more teams and more domestic players': Bhutia bats in favour of a more 'Indian' Super League

Apr 26, 2016 at 16:13 | Source: FirstPost

Mumbai: Former India captain BhaichungBhutia said that the Football Players Association ofIndia (FPAI) has asked IMG-Reliance to increase the home grownplayers' quota in the starting XI of Indian Super League matches from five to six. The former FPAI...

Deep discounts not a viable business model for start-ups, says Raghuram Rajan

Apr 26, 2016 at 08:15 | Source: FirstPost

Mumbai: With concerns being raised aboutcash-burn in burgeoning e-commerce sector, RBI governor Raghuram Rajantoday made it clear that getting revenues through deepdiscounting is not a viable business model for start-ups."If the only reason you ...

People in Kashmir still nursing old wounds, need special care: CM Mehbooba Mufti

Apr 25, 2016 at 08:59 | Source: FirstPost

New Delhi: Jammu and Kashmir Chief Minister Mehbooba Mufti on Sunday said her state needs special care and attention as people there are still nursing "old wounds inflicted by misfortune and tragedy" as she sought support and cooperation to...

Rio Olympics-bound Indian athletes to get Rs 1 crore life insurance for the first time

Apr 24, 2016 at 09:29 | Source: FirstPost

New Delhi: In a first of its kind move, the Olympics-bound Indian athletes were on Saturday presented life insurance cover worth Rs one crore even as the Indian Olympic Association roped in three sponsors in its quest for financial independence.Edelw...

Rio Olympics-bound Indian athletes to get Rs one crore life insurance for the first time

Apr 23, 2016 at 23:12 | Source: FirstPost

New Delhi: In a first of its kind move, the Olympics-bound Indian athletes were on Saturday presented life insurance cover worth Rs one crore even as the Indian Olympic Association roped in three sponsors in its quest for financial independence.Edelw...

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