Gujarat government reveals new monetary provisions for citizens

Edit The Times of India 14 May 2016
The state health department has brought out fresh provisions to curb delays in monetary help to be provided to needy patients. Under this provision patients who submit claims between Rs 1 lakh to Rs 2 lakh the ......

Provision of IT Act junked, IPC's upheld

Edit The Times of India 14 May 2016
... IT Act by Justices J Chelameswar and R F Nariman on March 24 last year on a petition by law student Shreya Singhal was quoted extensively by Justices Dipak Misra and P C Pant on Friday while upholding the validity of provisions on criminal defamation....

Union Bank posts 78% slide in Q4 net on higher bad loans provision

Edit DNA India 14 May 2016
The bad loan provisioning zoomed over three-fold to Rs 2,008 crore. State-run Union Bank of India on Friday reported a 78% plunge in the March quarter profit at Rs 96.12 crore as the bank made higher provisions for bad loans which zoomed over three-fold to Rs 2,008 crore ... Provisions for loan losses jumped to Rs 2,008 crore during the quarter from Rs 833 crore in the year-ago period....

Grandfathering provision may lead to FDI surge from Mauritius

Edit The Times of India 14 May 2016
NEW DELHI ... The biggest share of this could be venture capital going into startups, analysts said. "There is a good chance that investors would try to invest before April 1, 2017, due to the grandfathering provision," a senior government official told ET ... "Some of the structures in other jurisdictions may be unwound or moved to Mauritius, to take the benefit of the grandfathering provisions available ... Download it Now! ....

Senate committee's defense bill has Oklahoma-related provisions

Edit Tulsa World 14 May 2016
A bill that calls for a 1.6 percent pay hike for troops and more construction and maintenance work at Oklahoma military bases cleared the Senate Armed Services Committee late Thursday after four days of closed deliberations ... ....

Six PSU banks report Rs 7,000 crore loss as defaults mount

Edit The Times of India 14 May 2016
Bank of Baroda's results surprised markets as the management had made huge provisions in the third quarter stating that it has set aside the full amount required in respect of accounts identified by the Reserve Bank of India as a non-performing asset ... Its third quarter provisions were almost three times the provisions of Rs 631 crore in the corresponding quarter last year....

Column | Real Estate Regulation Act: Beginning of a new era

Edit Yahoo Daily News 14 May 2016
The ministry of housing and urban poverty alleviation had—in its notification dated April 26—fixed May 1, 2016, as the date on which certain provisions of the Act would be come into force. Some of the key provisions within the ambit of the enforcement notification include the establishment of the real estate regulatory authority, central advisory committee and the real estate appellate tribunal....

Real Estate Bill: New era begins; law will ensure sectoral bodies equipped to deal with duties

Edit Yahoo Daily News 14 May 2016
The ministry of housing and urban poverty alleviation had—in its notification dated April 26—fixed May 1, 2016, as the date on which certain provisions of the Act would be come into force. Some of the key provisions within the ambit of the enforcement notification include the establishment of the real estate regulatory authority, central advisory committee and the real estate appellate tribunal....

Bank of Baroda surprises on NPAs, loss

Edit Yahoo Daily News 14 May 2016
Public sector lender Bank of Baroda (BoB) on Friday reported a net loss of Rs 3,230.14 crore in the three months to March, with provisions more than trebling year-on-year to Rs 6,857.66 crore, up from Rs 1,817.5 crore ... Of the total provisions, Rs 4,880 crore has been set aside for loan losses ... The central bank had suggested lenders should spread out the provisions over two quarters....

Union Bank net profit plunges 78.5%

Edit Yahoo Daily News 14 May 2016
Public sector lender Union Bank of India on Friday reported a 78.5% Y-o-Y decline in its net profit for the March quarter at Rs 96.1 crore on the back of lower net interest income -- the difference between interest earned and interest expended -- and a 54.9% (Y-o-Y) rise in provisions necessitated by a 84.5% jump in gross non performing assets (GNPAs)....

Here's how some banks are bleeding

Edit The Times of India 14 May 2016
The bank set aside Rs 6,857 crore as provisions, up 3.5 times from the Rs 1,817 crore in March 2015. Provisions included Rs 1,564 crore for pension liabilities and Rs 300 crore for NPAs in the bank's branches in UAE ... Kolkata based UCO Bank reported a record loss of Rs 1,715 crore because of a near 2.5 time rise in provision to cover for NPAs ... However, provision for NPAs increased to Rs 2008 crore from Rs 833 crore a year ago....

Cultural activities proposed in defunct theatres

Edit Indian Express 14 May 2016
A part of the chapter titled “Art, Culture, Recreation and Leisure”, which will be included in the draft of the revised DP 2014-34, the civic body also lists provisions for educational institutions, open spaces and heritage buildings for hosting cultural events ... The provision is aimed at allowing dead assets to be utilised for more productive and contemporary uses....

Service tax on lawyers: Supreme Court takes up plea to transfer petitions

Edit Yahoo Daily News 14 May 2016
Various HCs, while seeking response from the finance ministry and the service tax department, have stayed the relevant provisions of the three notifications dated March 1, 2016 that imposed service tax on senior lawyers with effect from April 1....
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