Bank Bailouts

The International Monetary Fund in March this year approved a 48-month, $2.9 billion extended arrangement under the Extended Fund Facility (EFF) to support Sri Lanka's economic policies and reforms

Pramod Mittal, whose career in the steel industry has been less glittering than his better-known sibling has a string of abandoned factories and a trail of unpaid debts to his name

The IMF on Thursday said it has concluded constructive and productive discussions with Sri Lankan authorities, but warned that the crisis-ridden island nation needs to do more on debt restructuring

That deal, approved by 90% of Siva Industries lenders, was signed as there were no other suitable offers; lawyers say it will set a bad precedent

A more caring India would provide for Universal Basic Income

According to the reconstruction scheme, 75 per cent of the total investment by the bank would be locked in for three years, ICICI Bank said

More companies are likely to approach the nodal agency for taking benefit of this window from next week, she said

Without bringing sound governance and technical capabilities into the RBI's work, injecting new money sets the stage for a next wave of bad behaviour by banks