ALSO READNews digest: Govt bank stocks on fire, RBI hails bank recap plan, and more Recapitalisation plan: Weak banks may not get growth capital Letters: Take the RRB route Govt's recapitalisation plan: Yield hardens on benchmark govt bond in early trade Govt clears Rs 2.11 lakh crore bank recapitalisation plan
Recapitalisation plan: Weak banks may not get growth capital Weaker banks are likely to be capitalised only to cover their provisioning requirements, while stronger banks would be provided capital for growth as well, sources in the finance ministry have said. Also, the Rs 1.35-lakh-crore worth of bank recapitalisation bonds — of the Rs 2.11-lakh-crore recap scheme offered by the government on Tuesday — would be issued by the government, senior officials confirmed. Read more Air India stake sale: 14 firms in race to assist govt As many as 14 companies have expressed an interest to collaborate with the government in the role of transaction and legal advisors for the divestment of national carrier Air India. Read more Ruias take Russian tie-up route for Essar Steel bid Russian financial services company VTB Capital is joining hands with the Essar promoters — the Ruia group — to bid for Essar Steel, it is learnt. Read more Navy drops cherished dream of nuclear-powered aircraft carrier The Indian Navy’s second indigenous aircraft carrier, INS Vishal, will not be – as has been widely reported – an American-style, nuclear-powered “flat-top”.
Instead, it will be a conventionally powered 65,000-70,000 tonne vessel, housing some 55 aircraft and incorporating a state-of-the-art “electro-magnetic aircraft launch system” (EMALS) to catapult aircraft off the carrier. Read moreDomestic brokerages cash in on D-Street party The record run-up in the market has helped domestic brokerages — both pure-play and diversified — shore up revenues. The euphoria is reflected in the doubling of share prices of all major listed players this year. Read more