According to SBI executives, the aim is to do things efficiently with an eye on profitability, and get a feedback on areas, including which business to enter and which to exit.
The buyout will cost LIC about Rs 100 billion, based on the Rs 248 billion market capitalisation of IDBI Bank as on Friday, and assuming it acquires a 40 per cent equity stake from the government.
These recommendations are based on interactions held by the Banks Board Bureau with eligible candidates from PSBs towards appointment against vacancies in PSBs for the period 2018-19
Experts believe the move will have little impact given limited production of generic drugs and authority of doctors in prescribing medicines.
It was primarily due to a higher trade deficit ($41.6 billion) brought about by a larger increase in merchandise import.
The 'bad bank' -- which will help banks clear their balance sheets by transferring the NPAs to special purpose vehicles -- has been one of the most debated ideas for stressed asset resolution.
One thing is certain: The part-Goan, part-Malayali group CEO of Air Asia is not your usual boardroom CEO, and he cultivates the maverick businessman image, buying race car teams and football clubs and taking off-beat bets with his mentor and now buddy Richard Branson of Virgin.
The RBI has been critical of banks for using restructuring schemes to hide the stress.
Kardassis, who quit the airline in 2013, will advise Goyal and senior management on cost-saving and productivity improvement
Sources close to the development said a significant amount of around Rs 7,000 crore had been put into the SBI account with a proposal on escrow of the deposited funds.
IndiGo and other airlines have said they are improving their staff training, looking at better ways of communication and customer awareness on operational matters.
RBI may be inclined to impose severe restrictions on lending in the coming quarters.
A resurgent SpiceJet is spreading its wings and Vistara is set to challenge Jet on long-haul routes in the coming years.
The government proposes to divest 76 per cent of Air India, along with its shareholding in Air India Express and its ground-handling subsidiary, AISATS.
Aditya Ghosh, with no prior aviation background or MBA degree, managed not only to become the CEO of an airline but even piloted it to the top with almost half of the market.
RBI deputy governor N S Vishwanathan has said the new framework was in line with the Insolvency and Bankruptcy Code guidelines.
ICICI's board has denied any wrongdoing, highlighting that the loan was underwritten in accordance with the bank's credit standards and was extended as part of a consortium involving over 20 banks.
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.
The next step is the charter, which aims to safeguard consumer rights and address criticism about the government not doing enough for passengers.
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