The Maharashtra State Cooperative Bank (MSCB), which is under administrator&rsquo;s rule since May, has missed the March 31 deadline for getting a banking licence from the Reserve Bank of India.

MSCB misses deadline for banking licence

Business Standard

Railway Minister Dinesh Trivedi's proposal to mobilise additional resources from commercial utilisation of land and air space in Mumbai has evoked a mixed reactions. While realty players and experts see it as a lucrative proposal, economists and transport consultant believe that it should not remain a statement of intention rather than a statement of action.

Mixed reaction to commercial use of rail land in Mumbai

In a bid to ease the pressure on suburban railway system due to rising passenger flow, the minister has proposed 75 additional services, 1,500 new coaches for Mumbai local trains, expansion of suburban rail networks and addition of more services in Mumbai.

Railway Budget: Bonanza for Mumbai commuters

Even as the Rail Budget proposal to commercially exploit the railways&rsquo; Mumbai land and airspace got a thumbs up from various quarters, the ministry has to tackle the issues of encroachment and infrastructure bottlenecks before the plan can be implemented.

Encroachments, bottlenecks may mar railways' plan for Mumbai land

Reports by the experts&rsquo; panel, came in handy for the Tamil Nadu government to give its approval for the Kudankulam nuclear power project downstate, it is learnt. The expert groups of both the central and state governments observed the proposed 2,000-Mw endeavour met current safety standards.

Nod for Kudankulam prompted by need for power

Larry Walther, member of the board of directors of the bank, told Business Standard, &ldquo;Exim Bank sees India as one of the most dynamic and growing economies in the world with unlimited potential.

US Exim Bank bullish over India's $1-trn infra investment plans

India and US, in a bid to promote trade and investments, have launched dialogue for the bilateral investment treaty. US Commerce Secretary John Bryson said the treaty would provide strong protection for investors of both countries. US exports have risen to $21 billion in 2011 from $4 billion in 2001 while US is receiving $36 billion in goods from India in 2011. Piramal Group has proposed to make an investment of $1 billion over the years in the US in the fields of bio pharma, space and defence and information management.

US, India bilateral investment treaty talks

Maharashtra has been in news for rising debt pressure on its finances. State finance minister Ajit Pawar, who recently presented the state's annual Budget for 2012-13, in an interview with Sanjay Jog, talks about the state's economy and the way forward.

We will not shy away from difficult decisions: Ajit Pawar

In a bid to boost private investment in the textile sector, the Maharashtra government will provide 10 per cent capital subsidy and up to 12.5 per cent interest subsidy for projects linked to the Textile Upgradation Fund Scheme (TUFS).

Maharashtra moots subsidies to boost textile investment

Maharashtra finance minister Ajit Pawar, who would present his second Budget tomorrow, faces several challenges in the wake of mounting debt and rising spending on salary, wages, pensions, interest payment and subsidies.

Introduction of new taxes likely in today's Maharashtra Budget

They are expected to soon resume discussions on a design for Indian conditions and safety regulations. NPC has yet to decide the site for installation. Prime Minister Manmohan Singh&rsquo;s ongoing visit to the South Korean capital, Seoul, to attend the Nuclear Security Summit, is expected to help expedite the process. Kepco has a $20.4-billion contract to build APR 1400 reactors in the UAE. Four units of the APR1400 are under construction in Korea.

Talks on Korean atomic reactors to resume soon

Indian businesses wishing to invest in South Africa need to be prepared to invest in value addition over time.

South Africa urges Indian investments

The Maharashtra government, which is striving to keep pace with competition from other states to attract investments, has once again ruled out the possibility of withdrawal of rules amended last year for value added tax (VAT) set offs.

Car makers mull options as VAT stays

The Congress and Nationalist Congress Party, partners in the governing coalition in Maharashtra, began a verbal duel today on their alliance.

Cong, NCP in verbal duel after local polls

The Maharashtra government has suspended principal secretary for expenditure Pradeep Vyas and senior IAS officer Jairaj Phatak, pending investigation in the Adarsh Housing Society scam, the state informed the Bombay High Court on Thursday. Vyas, along with three others, was arrested on Wednesday by the Central Bureau of Investigation, just five days ahead of the 2012-13 state budget presentation. While Vyas was the collector of Mumbai, Phatak was the municipal commissioner of the Municipal Corporation of Greater Mumbai when the scam took place. The court, meanwhile, wanted the scam-tainted Adarsh Housing Society to surrender the 31-storey building to the defence ministry on the ground the structure posed a threat to sensitive defence installations nearby .

Adarsh: IAS officers suspended

India&rsquo;s gross domestic product (GDP) can grow at seven per cent or more, provided the process of reforms is expedited, the World Bank has said.

World Bank: India can grow at 7% by expediting reforms

There is a marked slowness in the coutry&rsquo;s ongoing cotton procurement, as growers are expecting an increase in price after the partial lifting of a ban on cotton exports 10 days ago.

Cotton growers expect price jump

Nuclear Power Corporation (NPC) would soon approach Atomic Energy Regulatory Board to load fuel in the first unit, and start sourcing additional investment.

Hunt on for funds, fuel

National Bank for Agriculture and Rural Development (Nabard), currently in the midst of a restructuring and reorganisation exercise, plans to consolidate its position in microfinance, warehousing development and rural infrastructure, in the wake of increased budgetary allocation.

Nabard plans to use extra allocation to consolidate

The Budget proposals come at a time when 60 power projects under development face a loan default risk due to fuel shortages. Union power minister Sushilkumar Shinde speaks to Sanjay Jog on the state of the policy.

We've tried to address various power sector issues in this Budget: Sushilkumar Shinde

Chances of Maharashtra State Cooperative Bank (MSCB), which is under the administrator&rsquo;s rule since May last year, getting banking licence by March 31 have brightened after the state government made an adhoc provision of Rs 50 crore. The state government's move would help MSCB achieve the 4% capital to risk assets ratio (CRAR) as mandated by Reserve Bank of India and National Bank for Agriculture and Rural development (Nabard) to seek the banking licence.

Sanjay Jog

Sanjay Jog

Page 117 - Sanjay Jog