IL&FS failed to service principal and interest on loans from banks, inter-corporate deposit and commercial papers totalling 33.9 crore rupees due for the period from Sept 30 to Oct 4
For all its obvious blemishes, capitalism alone holds out the most creative and dynamic force that any civilization has ever discovered, wrote BP Godrej in 1980.
SEBI probe concluded that purported loans and fund transfers were paid back in full and did not amount to deceptive market practices or unreported related party transactions.
This is the first major attack on central security forces since last November, when a CRPF jawan was killed and four were injured in an ambush in Jiribam on Manipur-Assam border.
Many really smart people now share the position that playing cricket with Pakistan is politically, strategically and morally wrong. It is just a poor appreciation of competitive sport.
The RBI is in a tough spot. It needs to protect the rupee, fight inflation, but not throw in the towel on growth either. To be perfectly fair, a 25 basis points increase would not have put out the raging fires either. India has been on a 24 / 7 election fighting mode for so long, we seem to have forgotten that there is something called an economy that needs to be helmed, mentored, managed.
The RBI is in a tough spot. It needs to protect the rupee, fight inflation, but not throw in the towel on growth either. To be perfectly fair, a 25 basis points increase would not have put out the raging fires either. India has been on a 24 / 7 election fighting mode for so long, we seem to have forgotten that there is something called an economy that needs to be helmed, mentored, managed.