And will sell its 50 per cent stake to State Bank of India in Russia as part of rationalisation of overseas branch network.
Experts say the new guideline is likely to hurt foreign players more, especially card companies such as Visa, MasterCard and American Express who process and store credit card transaction data outside of India.
What matters is the culture and the atmosphere of the workplace, and whether employees get treated fairly. 'It is also important for the employee to feel s/he is part of a winning team,' Credit Suisse's Mickey Doshi tells Niraj Bhatt.
IBoard defends MD on nepotism charges, quashes allegations; it also reviewed its internal processes and exposure to the Videocon group
With the management of most State-owned banks hardly having time to concentrate on big-ticket business, growing the business of loan disbursals has been pushed down the priority order.
The government has asked the Indian Banks' Association to make sure that IDBI Bank's wages are on a par with other banks.
RBI seeks detailed report on what happened between 2011 and now; bankers to recall loans to Nirav Modi entities.
The amount of loans that carry a high risk of slippage into the NPA category over the next few quarters is about Rs 2.8 trillion.
Loss takes analysts by surprise, as they were expecting the bank to post a net profit of Rs 19 billion.
It is also considering to hike FDI cap for public sector from 20 per cent to 49 per cent
The one common theme across companies that have rewarded shareholders is consumption.
'Our real future is the boy in the slum and the girl in the village.' 'We need to find the voices that can empower them to lead a better life,' TED Talks' Chris Anderson tells Niraj Bhatt.
State Bank of India (SBI) chairman Rajnish Kumar, in conversation with Abhijit Lele, also says that the overhang of corporate debt stress will begin to recede in the next two-three quarters.
The bank is also working on a three-year business plan, nearly coinciding with the time its new chairman Rajnish Kumar would be in the corner office.
Essar group, Bhushan Steel and JSW group likely to be impacted by changes
Daniel Wu, chairman of the Asian Bankers Association (ABA), says there is merit in merging some of the less efficient public sector banks in the country.
'The 5.7% growth in the April-June period is an aberration because of GST.' 'Business activity in the last 15 days of the quarter was minimal or zero.'
The move will have cascading effects for lot of related sectors
On a sequential basis, banks have had to set aside a substantial amount for bad loans, up 30 per cent from Rs 3,459 crore in the June quarter to Rs 4,508 crore.
PE firm True North's investment model is to take 51% stake in mid-sized companies and make them large, says Niraj Bhatt.
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