Posted at 12:00 PM , on September 9, 2019
The Essel Group owned by Subhash Chandra has repaid around Rs.4500 crore out of its debt owed to mutual funds for the group infrastructure and power forays. While a start has been made towards repaying the Rs.17,000 crore owed to mutual funds, it is still unclear how Essel Group will manage to close out the balance.
Posted at 5:07 PM , on September 3, 2019
The worsening debt situation at the National Highways Authority of India (NHAI) was being spoken about in hushed tones for long. But it may not have become apparent if the PMO had not summoned the top brass of NHAI and the ministry and asked them to stop road building and focus on monetizing their existing assets. What exactly is the issue and what is the background to this massive pile up in debt?
Posted at 5:00 PM , on September 3, 2019
The cabinet last week approved a huge sugar export subsidy of Rs.6286 crore for sugar mills to export sugar. Cost of producing sugar in India is substantially higher than in countries like Brazil and Australia. With global sugar prices falling, the only way for Indian sugar mills to compete in the world market is through government subsidies. While this is good for optics, will this really address the concerns of sugar sector?
Posted at 4:58 PM , on September 3, 2019
With a sweep of her pen the Finance Minister reduced the number of PSU banks in India from 10 to just 4. Large banks like PNB, Canara Bank and Union Bank became the acquiring banks. The merger was long overdue but there are also some serious challenges ahead.
Posted at 5:23 PM , on August 26, 2019
In the last couple of years, SEBI board meetings are becoming a key forum for important regulatory decisions. The last SEBI board meeting on 21st August made important shifts in 4 key areas.