News digest: Five banks face PCA, Fugitive Economic Offenders Bill and more

Yogi Adityanath - who completes his first year as the Uttar Pradesh Chief Minister on March 19 - has spent the last 12 months sizing up his potential challengers, consolidating and expanding his turf

Five PSBs on brink of being put under RBI's prompt corrective action plan

Five public sector banks (PSBs), including Canara and Union Bank of India, are on the brink of being put under the Reserve Bank of India’s (RBI’s) prompt corrective action (PCA) plan. According to rating agency Icra, their net non-performing assets (NPAs) rose above 6 per cent in December 2017. Read More...

Insolvency process: ArcelorMittal's bid for Essar Steel illegal, says VTB

ArcelorMittal is “spoiling” the bidding game of Essar Steel. Despite its lobbying with the Indian government, its “illegal bid” should not be cleared as it does