Missing JNU student Najeeb Ahmed in Aligarh, claims suspicious letter

Jan 21: Indian policymakers may make it easier for companies to tap foreign funding, as a prolonged cash squeeze makes it tough for firms to borrow at home.

Investors are speculating about potential steps Finance Minister Nirmala Sitharaman could unveil when she presents the nation’s budget on Feb. 1. These measures may include freeing up firms to borrow at higher rates and offering tax breaks to global funds.

“The government will need to relax local rules to make it easier for Indian companies to raise debt overseas and tide over the funding crunch in the onshore market,” said Raj Kothari, London-based head of trading at Jay Capital Ltd. “At the same time, they need to ensure that the borrowers tapping offshore markets abide with stricter corporate governance so as to avoid further defaults.”

A prolonged crisis in India’s shadow bank sector and a pile of bad loans at traditional lenders is making it expensive for Indian companies, other than the best-rated firms, to access funding. The government has tried a series of measures to spur domestic credit, including providing so-called credit enhancement and allowing tiny firms to restructure debt.

Here are some steps Sitharaman may consider to spur foreign borrowing:

• She could raise the cap of 450 basis points above Libor, which limits overall foreign debt costs for Indian companies

• This could help lower-rated firms sell bonds abroad. Indian companies rated BBB currently borrow at more than 10%, about 3.8 percentage points more than their top-rated peers;

• Sitharaman could waive the withholding tax foreign investors need to pay on holdings of rupee-denominated debt sold by Indian companies abroad

• The waiver was offered between September 2018 to March 2019, but wasn’t extended as the highest global interest rates since the financial crisis deterred Indian borrowers. Since then, the three-month Libor has dropped by about 1 percentage point

• She could permit Indian property developers and housing finance lenders to sell overseas bonds for reasons beyond affordable housing projects

• New funding lines to the real estate sector, arguably ground zero of India’s economic slowdown, could help kickstart consumption and investment as the industry is the nation’s biggest job-creator.

New Delhi, Jan 15: The mother of 23-year-old paramedic student, who was raped and brutally assaulted by six men in December 2012, on Tuesday said she knew that the curative petitions of the convicts will be rejected and is confident that they will be hanged on January 22.

Her remarks came after the Supreme Court on Tuesday refused to stay the execution of two of the four death row convicts in the 2012 Nirbhaya gang rape and murder case while dismissing their curative petitions against their conviction and capital punishment.

"The curative please had to be rejected. This was the third time they had gone to the Supreme Court. Whatever pleas they file, we are ready to face them and we will fight it out. We feel that they will be hanged on January 22. We want that to happen," Nirbhaya's mother told PTI over phone.

The four convicts -- Vinay Sharma (26), Mukesh Kumar (32), Akshay Kumar Singh (31) and Pawan Gupta (25) -- are to be hanged on January 22 at 7 am in Tihar jail as a Delhi court issued their death warrants on January 7.

Vinay and Mukesh had filed curative petitions on January 9.

Shortly after the apex court refused to stay the execution of two of them, Mukesh moved a mercy petition before President Ram Nath Kovind.

Mukesh also approached the Delhi High Court for quashing the death warrant. The high court is expected to take up his petition on Wednesday.

New Delhi, Feb 29: Amid the raging communal violence in the entire north-east Delhi earlier this week, there were people who were trying to save persons and families from the "other community" from the fury of the mobs of their own community.

Naeem Ali Pradhan, 34, from Shiv Vihar, helped at least 7-8 Hindus on the night of February 24 -- when the violence was at its peak-- escape to safer locations. Shiv Vihar is one of the worst affected areas in the violence.

According to Naeem Ali, that night mobs attacked dozens of shops on the road and later tried to enter inside the residential areas.

Suddenly, he spotted a group of youth who were looking hassled and frantically asking for directions.

"I saw them. Thye were Hindus who were trying to escape a mob looking to target them. They had lost their way inside the streets of our colony. I along with other Muslim men escorted them to the nearby Hindu locality," Naeem, who is also a member of the Aman Committee constituted by the Delhi police, told ANI.

"Several shops which were on the roads including some showrooms were attacked by a group. These Hindus were worried as a mob which was on the main road was attacking people. They asked me the address of a colony as they were unable to find their way," Naeem said.