Plan and Policy

Plan & Policy

UCO Bank willing to take 40-45% haircut to keep book free of NPAs, says MD

Fighting a corrective action plan imposed by RBI for huge non-performing assets (NPAs), UCO Bank is putting its focus on bad loans resolutions. It is also willing to take a 40-45 per cent haircut for bigger cases under the National Company Law Tribunal (NCLT) to keep its books sticky assets free, RK Takkar, managing director and CEO of the bank, (in pic) said.

Contours of Team Rahul starts to get shape

The contours of team Rahul Gandhi have begun to emerge as senior leaders, Ghulam Nabi Azad and P. Chidambaram are expected to be appointed as the two vice presidents in the new set-up of office bearers to be announced soon.

Before his elevation as the party president, Rahul Gandhi had held the post of the vice president since 2013 and has functioned as the number two in the organisation.

3.2% fiscal deficit goal likely for FY19

A fiscal slippage in FY18 will likely result in the government opting to go for a wider gap for 2018-19 in the upcoming budget, according to foreign lender DBS on Thursday.

The fiscal deficit number for 2017-18 will come at 3.5 per cent against the targeted 3.2 per cent of the GDP (gro­ss domestic product) and it will result in the government opting to settle for a target of 3.2-3.3 per cent rather than the 3 per cent under the fiscal consolidation roadmap.

BSF destroys 2 Pak posts; kills intruder along IB

BSF troops on Thursday destroyed two Pakistani posts in retaliation to the killing of its jawan in unprovoked firing and foiled an infiltration bid, killing an intruder along the International Border (IB) in Jammu  district. Following the killing, the force launched “Operation Alert” along the over 200-km long IB) to curb the increasing movement of infiltrating militants from across the border.

Pak releases another ‘confessional’ video of Jadhav

Pakistan on Thursday released another video of Kulbhushan Jadhav in which he purportedly claimed that he has not been harmed in custody, prompting a strong reaction from India, which called it a “propagandistic exercise” by Islamabad that simply carried no credibility.

Cong flags Rs 5.5L cr oil duty in House

The Cong­r­­ess on Th­u­rsday accused the Narendra Modi government of not passing on to consumers the benefits of revenue it has earned by hiking excise duty on oil products, saying it garnered over Rs 5.5 lakh crore and should tell the people what it has done with the money.

Mallikarjun Kharge, Congress leader, raised the issue in the Lok Sabha, noting that the price of crude was $110 per barrel in March 2014, two months before the BJP came to power, which had come down to $40 in June 2016. It was $60 on Wednesday, he said.

India risks landing on currency manipulator watch list

India and Thailand may have to give freer rein to the rupee and baht this year to avoid triggering US accusations that they’re manipulating their currencies to support exports. The Reserve Bank of India has already exceeded a key threshold on how much it can intervene to curb the rupee’s gains that the US monitors, according to Nomura Holdings Inc.

Policymakers in Thailand have also passed this level with the baht, said Bank of Tokyo-Mitsubishi UFJ.

Maharashtra bandh turns violent; rail, road traffic hit

The day-long Maharashtra bandh to protest the violence post an event to mark 200th anniversary of Bhima Koregaon battle, was called off on Wednesday evening. Bharipa Bahujan Mahasangh leader and Dalit icon BR Ambedkar's grandson Prakash Ambedkar, who had called the bandh, told reporters that nearly 50 per cent of the state’s population took part in the shut-down. Road blockades, arson and stone-pelting incidents were reported in Mumbai and elsewhere during the day. However, Ambedkar, claimed that the bandh was peaceful.