DEBT

  • West Bengal: 27 Indians return from Iraq jobless, hounded by moneylenders July 15, 2014

    Nadia: The Iraq war has hit India. Even as 39 Indians remain in captivity in Mosul, thousands are hoping to come home. But heavily in debt, many of them are worried about what they're returning to. Twentyseven men have returned to West Bengal's Nadia jobless and being hounded by...
  • Fail to bear losses, couple commits suicide July 13, 2014

    Suffering heavy losses in business and reeling under mounting debt, a middleaged couple allegedly committed suicide here by consuming poison, police said on Saturday. The couple, identified as Rajesh Tripathi (46) and Renu (43), allegedly consumed poison on Thursday at their Paredeshipura residence. The couple was admitted at the nearby hospital...
  • Government to raise longterm capital gains tax on debt Mutual fund to 20 pc July 10, 2014

    New Delhi: In a move that may come as a blow to the mutual fund industry, the government on Thursday proposed to raise longterm capital gains tax on debtoriented mutual funds to 20 per cent from 10 per cent, to bring parity with banks and other debt instruments. However in the...
  • Debt-ridden man hangs himself to death April 15, 2014

    Facing financial problems, a man allegedly committed suicide by hanging himself at his residence in Souter Ganj area in Kanpur, police said. Amarnath Gupta was found hanging from a fan by his family on Monday night, following which they called the police, a police spokesperson said. Gupta, 45, ran a flour mill...
  • Debtridden farmer hangs himself in Sukkha Purwa Village February 14, 2014

    A debtridden farmer allegedlycommitted suicide by hanging himself in Sukkha Purwa Villagein Katra Bazar area in Gonda, the police said on Friday. Solhu (42) committed suicide by hanging himself on Thursdaynight at his house, they said. The police have sent his body for postmortem. According to villagers, the farmer was depressed dueto...
  • Debt ridden farmer shoots himself dead in Atrohana village January 7, 2014

    A debt ridden farmer inAtrohana Village in Muzaffarnagar district has allegedly committedsuicide by shooting himself at his house, the police said. Sanjay Tyagi (48), was depressed over the mounting debtsthat he had taken from a bank and as the bank officials werepressuring him to pay back the loan. On Monday, he...
  • India's external debt stands at $ 400 billion in September December 31, 2013

    India's external debt was at $ 400.3 billion including government debt of $ 77.3 billion at the end of September. "Government (Sovereign) external debt stood at $ 77.3 billion, (19.3 per cent of total external debt) at end September 2013 visavis $ 81.7 billion (20.4 per cent) at...
  • China's $3 trillion local government debt stirs alarm December 31, 2013

    Calls for China to accelerate financial reforms grew louder on Monday after figures showed its indebted local governments owe nearly $3 trillion in a debt buildup that some analysts called alarming. The National Audit Office, China's state auditor, said in a report local governments had total outstanding debt of 17.9 trillion...
  • Debtfueled growth: Can the west avoid a Japanese future? December 23, 2013

    Scientists study distant galaxies to gain a better understanding of our own planet. In the same way, Japan's experience provides important insights into current global economic problems. Unfortunately, the lessons from Japan are largely being ignored. As John Kenneth Galbraith wryly observed: "There can be few fields of human endeavour...
  • World View: US shutdown ends, is the relief only temporary? October 18, 2013

    The US Senate overwhelmingly approved a deal on Wednesday to end a political crisis that partially shut down the federal government and brought the world's biggest economy to the edge of a debt default that could have threatened financial calamity. ...
  • Obama and Republicans search for a deal on US fiscal impasse October 13, 2013

    Washington: President Barack Obama and congressional Republican leaders inched toward resolving their fiscal impasse on Friday, but struggled to agree on the length and terms of a shortterm deal to increase the US debt limit and reopen the government. Obama met Senate Republicans at the White House and spoke by phone...
  • Republicans consider shortterm US debt ceiling increase October 10, 2013

    US House of Representatives Republicans are considering signing on to a shortterm increase in the government's borrowing authority to buy time for negotiations on broader policy measures, according to a Republican leadership aide. How long the increase might suffice a few weeks or a few months was unclear. But...
  • US debt crisis threatens world economy: IMF October 4, 2013

    Washington: Terming the current debt crisis in America as "missioncritical", the International Monetary Fund has warned the US that its impending debt crisis could damage not only its domestic economy, but the entire global economy. "The ongoing political uncertainty over the budget and the debt ceiling does not help. The government...
  • Kerala's finances not in pink of health: state Finance Minister September 14, 2013

    Kerala's financial position is "certainly not in the pink of health", admitted state Finance Minister KM Mani. "Kerala's financial position is certainly not in the pink of health, but due to cautious managing of the finances, we are able to go forward. A white paper is not required," Mani told IANS. The...
  • Andhra Pradesh: Four debt-ridden farmers end life August 27, 2013

    Four debt-ridden farmers allegedly committed suicide in Andhra Pradesh's Karimnagar district in the last two days, the police said on Tuesday. Cotton farmers Vangapalli Bhoomesh (30) from Namili Gundupalli village and Aitha Malla Reddy (36) from Annaram village ended their life by consuming insecticide on Monday, they said. Bhoomesh had taken...
  • Pawan Hans Helicopters failed to collect dues worth Rs 171 crore: CAG August 11, 2013

    Stateowned Pawan Hans Helicopters Limited (PHHL) has not collected dues worth over Rs 171 crore as it lacks a proper system for expeditious recovery of debts, government auditor CAG has said. "There was no system for timely recovery of debts due to which there was huge outstanding of Rs 171.87...
  • Debtridden man commits suicide, wife tries to set herself ablaze August 3, 2013

    Upset over financial issues, a man allegedly committed suicide by hanging himself, while his wifetried to set herself ablaze at their home in Jagdamba Nagar locality here in Jaipur, police said on Saturday. Madhusudan (34), a tailor by profession, had an heated argument with his wife Lalita (30) over some domestic...
  • Reliance Communications clears debt of Rs 6,000 crore July 1, 2013

    New Delhi: Reliance Communications on Monday said it has made full repayment of two loans amounting to $ 1 billion (around Rs 6,000 crore), during the June quarter. The company has completed full repayment of two Syndicated ECB loan facilities of $ 500 million each, which were availed in 2007 from...
  • Indian bankers suit up for war on debt defaulters June 3, 2013

    Mumbai: Fed up with a profitable textile company's failure to repay its loan, UCO Bank has taken its grievance public, placing newspaper ads last month that brand the industrialist owner of S Kumar's Nationwide Ltd a defaulter. State Bank of India (SBI), Bank of India Ltd and Bank of Baroda...
  • Protesters block streets around European Central Bank June 1, 2013

    Frankfurt: Crowds of anticapitalist protesters on Friday blocked streets leading to the European Central Bank in Germany's financial capital, Frankfurt, to protest its role in pushing for austerity cutbacks as a way to fight the continent's debt crisis. Members of the Blockupy alliance linked arms for several hours in a steady...
  • Farmer commits suicide in the village adopted by Rahul May 28, 2013

    Lucknow: A farmer identified as Kapoor Singh allegedly committed suicide by hanging himself in Madhavpur village of Uttar Pradesh's Banda district. According to the police, Kapoor Singh hanged himself as he was unable to pay off his Rs 5 lakh debt that he had taken for the marriage of his...
  • Actor Bradley Cooper helps friends pay off debts May 18, 2013

    Los Angeles: Fame hasn't gone to actor Bradley Cooper's head. He readily came to the rescue of his friends and their families to pay off their debts in their hard times. The 38yearold admits that finding fame has been disorientating, but he hasn't let his star status go to his head. "There...
  • How a student took on Harvard economists over errors and won April 18, 2013

    New York: When Thomas Herndon, a student at the University of Massachusetts Amherst's doctoral program in economics, spotted possible errors made by two eminent Harvard economists in an influential research paper, he called his girlfriend over for a second look. As they poured over the spreadsheets Herndon had requested from...
  • Punjab is most 'corrupt' state, says Manpreet Badal April 17, 2013

    Jalandhar: Terming Punjab as the most 'corrupt' state in the country, People's Party of Punjab leader Manpreet Badal accused the state finance minister of acting as merely the 'munim' (accountant) of the government. "Punjab is the most corrupt state in the country. The people looting the state are being actively...
  • Gujarat's loan has risen to Rs 1.72 lakh cr: Digvijaya April 15, 2013

    Shajapur: Congress General Secretary Digvijaya Singh on Sunday slammed Gujarat Chief Minister Narendra Modi for making "tall claims" about development, and claimed that despite all talks of progress every citizen of Gujarat is burdened with a debt of Rs 26,000. "When Modi became Gujarat Chief Minister for the first time,...
  • Delhi: 'Debtridden' family including 2 children charred to death April 6, 2013

    New Delhi: In a tragic incident, a family of four including two children was charred to death in Uttam Nagar. Police sources said that prima facie it appears to be a case of suicide. Meanwhile, the neighbours claimed that the family had a financial debt of over Rs 40...
  • Suzlon to sell $ 650 mn bonds overseas on Monday March 24, 2013

    Mumbai: Suzlon Energy, which recast its loans in January, is hitting the overseas bond markets to raise USD 650 million to prepay its forex debts, making it the first domestic company under CDR to do so, according to company and merchant banking sources. The USD 650million dollardenominated bonds sale programme,...
  • Finance Ministry moves Cabinet note for setting up of DMO March 23, 2013

    New Delhi: Finance Minister P Chidambaram on Friday said the ministry has moved the Cabinet note for setting up of a Debt Management Office (DMO), which will handle the government's borrowing programme. "The Paper (for setting up of DMO) has gone to Cabinet," he told reporters in New Delhi. At present,...
  • Citigroup agrees to pay $730 million to settle with investors March 19, 2013

    New York: Citigroup Inc has agreed to pay $730 million to settle a class action lawsuit on behalf of investors who said they were misled by the company's disclosures. Purchasers of the bank's debt and preferred stock between 2006 and 2008 claimed there were misstatements and omissions in the disclosures, Citigroup...
  • Have proof of corruption in farm debt waiver scheme: Anna March 17, 2013

    Nagpur: Anti-corruption activist Anna Hazare on Sunday claimed to have sufficient proofs of alleged irregularities committed in the farmers's loan waiver scheme of the Centre which was brought out by CAG report recently. "If the state government is interested in going through the proofs, I am willing to hand them over...