Thursday, October 15
The finance ministry has called on banks, debt recovery tribunals and other stakeholders to work together to reduce the backlog of pending cases and create a more effective recovery ecosystem, to help free up capital stuck in litigation.This capital could be redeployed "for productive use in the economy," the ministry said in a statement on Saturday.The appeal was made during a colloquium held earlier in the day with chairpersons of Debt Recovery Appellate Tribunals (DRATs), presiding officers of debt recovery tribunals (DRTs), and representatives of various public and private sector banks as well as the Indian Banks' Association.Among the key issues deliberated were prioritisation of high-value cases, use of alternate dispute resolution mechanisms such as Lok Adalats, and further reforms
Punjab chief minister Bhagwant Mann on Saturday made a slew of demands for the state's border areas, including the installation of 50 more drone jammers along its 553-km border with Pakistan.The demands were raised during the NITI Aayog's 10th governing council meeting, chaired by Prime Minister Narendra Modi here. Mann said the jammers were needed to counter drone attacks from across the border.Pakistan had launched a wave of drone strikes on border states of India during the recent escalation of tensions between the two countries. India had successfully neutralised these drones.Mann also sought from the Centre infrastructure grants for comprehensive development of six border districts of Amritsar, Gurdaspur, Tarn Taran, Ferozepur, Fazilka and Pathankot.Besides, the chief minister demande
U.S. stocks fell on Friday, notching a weekly loss, after President Donald Trump recommended 50% tariffs on European goods, reopening a new front in global trade tensions and unleashing a fresh wave of market uncertainty. All three main Wall Street indexes pared early losses but each still ended lower and shed more than 2% for the week. Technology, communication services and consumer discretionary stocks were the biggest losers of the S&P 500's 11 subsectors. Utilities, consumer staples and energy stocks gained. Apple touched a two-week low and finished down 3% after Trump warned the iPhone-maker it could face potential 25% tariffs on phones sold to U.S. customers but not manufactured in the country. Treasury yields eased from multi-month highs, falling 4.4 basis points to 4.509% for t
