Debt
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IMF provisionally agrees on USD 2.9 billion loan for crisis-hit Sri Lanka
World | Sep 01, 2022, 12:59 PM ISTIMF staff and the Sri Lankan authorities have reached a staff-level agreement to support Sri Lanka’s economic policies with a 48-month arrangement under the Extended Fund Facility (EFF) of about 2.9 billion US dollars.
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China's embattled property giant Evergrande fails to deliver debt restructuring plan
World | Aug 04, 2022, 12:27 PM ISTEvergrande has been at the heart of the country's real estate troubles since last year, and has become China's most indebted developer with $300 billion in liabilities.
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Mixed reaction to RBI article warning signs of stress due to high debt in several states
Business | Jun 18, 2022, 01:46 PM IST"The recent economic crisis in neighbouring Sri Lanka is a reminder of the critical importance of public debt sustainability. The fiscal conditions among states in India are showing warning signs of building stress," it had said.
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India extends duration of USD 400 mn currency swap facility with Sri Lanka
World | Apr 22, 2022, 05:15 PM ISTThis was the first extension of an international debt instrument to Sri Lanka after the government led by President Gotabaya Rajapaksa on April 12 temporarily suspended debt servicing.
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Russia-Ukraine war: Moscow makes debt payment in rubles, move that could result in historic default
World | Apr 07, 2022, 11:27 PM ISTThe Ministry of Finance said in a statement that it tried to make a $649 million payment toward two bonds to an unnamed U.S. bank — previously reported as JPMorgan Chase — but that payment was not accepted because new U.S. sanctions prohibit Russia from using U.S. banks to pay its debts.
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US debt default could trigger another recession: Reports
World | Oct 05, 2021, 06:15 PM ISTAs per reports, Treasury Secretary Janet Yellen believes the economy may fall into a recession if Congress fails to address the borrowing limit before an unprecedented default on the U.S. debt.
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GST paid on bad debtors must be reversed: DACAAI
Business | Jun 10, 2020, 09:33 AM ISTGST paid on invoices which have become bad debts must be paid back, Domestic Air Cargo Agents Association of India (DACAAI) said on Tuesday.At present, under the GST law agents have to up front pay 18 per cent GST on the invoices.
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IL&FS seeks extension of bid validity for 5 road projects facing Rs 10,500-cr debt
Business | Mar 08, 2020, 02:15 PM ISTBeing steered by a government-appointed and eminent banker Uday Kotak-led board on its path to recovery, crisis-hit IL&FS has sought extension of bid validity for five road projects that are faced with debts totalling over Rs 10,000 crore.
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Budget 2020: Debt increased by 71% in 5 years, address it on Feb 1, Congress tells govt
India | Jan 29, 2020, 05:06 PM ISTCongress spokesperson Gourav Vallabh has hit out at the government saying, "In the last 5.5 years, the country's debt has shown an increasing trend in terms of absolute amount. In March 2014, the total debt was Rs 53.11 lakh crore, whereas in September 2019 the same has increased to Rs 91.01 lakh crore."
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Banks allowed to utilise Vijay Mallya's movable assets to clear debt
Business | Jan 01, 2020, 02:45 PM ISTA special court here has permitted a consortium of 15 banks led by the State Bank of India (SBI) to utilise movable assets of former liquor baron Vijay Mallya towards repayment of his debt.
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Debt MFs see Rs 5k-cr outflow in Sep qtr on high pullout from liquid, credit risk funds
Business | Dec 01, 2019, 02:31 PM ISTAccording to Association of Mutual Funds in India (Amfi), mutual funds that invest in fixed-income securities saw an outflow to the tune of Rs 5,061 crore in the three months ended September 30, 2019 compared with an inflow of Rs 19,691 crore in the previous quarter.
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Power dept official falls off pole, dies in Srinagar
India | Nov 07, 2019, 03:56 PM ISTManzoor Ahmad, an inspector in the PDD, fell off a pole and died on the spot, the officials said.
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US debt exceeds $23 trillion for first time in history
Business | Nov 02, 2019, 12:43 PM ISTAccording to The Hill news, the national debt has grown by about 16 per cent since President Donald Trump came to power in January 2017 when it stood at $19.9 trillion. The US debt exceeded $22 trillion for the first time 10 months ago.
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Air India Assets Holding raises another Rs 7,985 crore
Business | Oct 17, 2019, 04:25 PM ISTRaising funds for the third time in little over a month, Air India Assets Holding Ltd (AIAHL) on Thursday raised Rs 7,985 crore through a bond sale, which was oversubscribed. A special purpose vehicle of Air India, AIAHL has mopped up a total of Rs 21,985 crore by way of bond issues since September 16 and the proceeds would be utilised to repay a debt of the national carrier.
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Goldman Sachs sacks India V-P for Rs 38 cr fraud
India | Sep 10, 2019, 11:29 PM IST"The employee (Jhunjunwala) has been immediately dismissed. We are also engaged with the authorities (police) to activate criminal proceedings," the company told IANS in an e-mail.
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Goldman Sachs VP deceives juniors, swindles firm of Rs 38 Crore to pay off poker debt
India | Sep 10, 2019, 06:16 PM ISTAshwani Jhunjhunwala, the firm's vice president, has been arrested and will be produced in court, deputy commissioner of police of Whitefield M N Anucheth told PTI.
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Lenders of troubled DHFL to meet on Monday
Business | Jun 30, 2019, 05:30 PM ISTThe consortium of 30 lenders led by state-run Union Bank of India, which includes banks and other financial institutions, may also consider the conversion of debt into equity that can make them the largest shareholder in the mortgage lender, sources said over the weekend.
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Debt of Air India runs into crores. Here's the total amount
Business | Jun 26, 2019, 09:36 PM ISTLast year, the Centre had invited Expression of Interest for strategic disinvestment of Air India, including its shareholding in Air India Express and Air India Air Transport Services Limited. However, it did not receive any bid till the last date on May 31, 2018.
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Anil Ambani claims to have repaid Rs 25,000 crore in past 14 months
Business | Jun 11, 2019, 02:01 PM ISTIn a conference call with media, he said the Rs 35,000 crore debt repayment includes debt servicing by Reliance Capital, Reliance Power and Reliance Infra and their respective affiliates.
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With CPEC and other projects China slowly dominating over debt ridden Pak
News | Nov 15, 2018, 11:08 PM ISTWith CPEC and other projects China slowly dominating over debt ridden Pak