SBI Chairman Pratip Chaudhuri says -'KFA outstanding loan an NPA for us' -KFA has 90 days to pay outstanding amount -Expect govt to infuse Rs 5,000-6,000 crore in bank by March -Govt stake in bank to rise to 64% post fund infusion -May go in for FPO or QIP in FY13
Kingfisher Airlines says -DGCA didn't find any important concern on airline's safety -Has adequate number of pilots, engineers to operate services -DGCA asked for timeline to get grounded aircraft back in air -DGCA sought specific timeline of recapitilisation effort
DGCA says -'No airline will shut down' -KFA has time till Monday to report back on safety measures -Safety is a concern for all airlines -DGCA is meeting all airlines, not just KFA -All airlines are in a difficult financial state
Finance Ministry sources say -Cabinet likely to consider PSU buybacks in next meeting -Upto PSUs to decide on buybacks & cross-holdings -Govt will not force PSUs for buybacks -No borrowing even if Rs 40,000 crore divestment target not met -Buybacks to only bring PSUs on level playing field with private -Enabling PSUs buybacks not just to meet deficit target
DoT likely to terminate 6 Idea Cellular licenses: PTI -May impose Rs 300 crore penalty on Idea for violating norms
Finance Ministry sources say -Banks raise regulatory concerns in lending to govt AMC and exposure limits -New govt AMC to raise capital by pledging SUUTI shares -Discussed leveraging SUUTI stake to meet divestment target with various banks
TRAI -To strengthen telecom user complaint redressal system -Require companies to set up II-Tier complaint redressal mechanism -Companies to set up 2-member advisory committee per service area -Companies to set up web based complaint monitoring system -Advisory committee to have members from consumer organisation -Finalising telecom consumers complaint regulations, 2012
DK Mittal says -Will propose bank recap to FM this weekend -Proposal for Rs 17,000 crore bank recap this year -Proposal for Rs 3.5 lakh crore cap infusion over 10 years -Rs 12,000 crore cap infusion via budgetary resources this year
Other stocks and sectors that are in news today: -Pfizer to hive off, sell animal health operations to parent company Pfizer Inc -ONGC - ex-date today - Interim dividend Rs 6.25/sh -Honda to challenge market leader, plans cheapest bike at ex-show room price of Rs 30,000 - Reports -Securities in ban in F&O: Ruchi Soya & Gitanjali Gems -Ramco Systems signs deal with Ornge Issuer Trust to provide Series 5 Aviation M&E Software (value not disclosed)
