The Securities and Exchange Board of India (SEBI) cancelled the certificate of registration of the credit rating agency due to repeated lapses in the functioning.
Swiss bank UBS Group expects S&P Global Ratings & Fitch Ratings to lower their outlook on the rating to negative from stable over the next couple of months.
ONGC’s largest shareholder, the central government, has been tapping state-run companies including India’s biggest energy explorer to bridge its fiscal deficit.
The collusion between the new class of bureaucrats, politicians, businessmen and trade union bosses perpetuates itself partly because of the short-run benefits and partly because they see no way out of the system, wrote author MH Mody in 1980.
IAF is firming up plans to revamp airlift capabilities with medium transport aircraft that will be assembled in India & serve as its main workhorse. Embraer is leading contender as of now.
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