The problem here is that internal auditors are good at accounts, but they are not trained to track foreign exchange transactions
Upgradation to the new product (from Infosys) will stabilise by this month-end
The latest fraud is a failure of management supervision and accountability, as no bad debt was generated and no cash was involved
Experts said the new framework has ensured that the focus has moved to creditor protection from debtor protection.
Banks given 180-day time for NPA resolution, matter to be referred to Insolvency Board within 15 days.
Banks argued that loans of most lenders are funded primarily by retail deposits and not from the wholesale market as was the practice abroad
Even as the government's move to hike import duties on 45 items is seen as a sign of protectionism, the prime minister was himself involved in the process.
If an equity share is purchased before January 31, 2018, at Rs 100 and the highest price quoted on January 31, 2018, in respect of this share is Rs 120, there will be no tax on the gain of Rs 20.
The existing double taxation avoidance agreements will not be covered by the proposed change, implying that in order to tax Facebook, Google and the like, India will require to renegotiate tax treaties.
"Growth is expected to moderate gradually in China... pick up in India, and remain broadly stable in the Asean-5 region."
'If you consider only demonetisation and GST as my government's work, it will be a big injustice to me.'
Foreign banks were ahead in terms of technology, but that is no longer the case as Indian private banks steal the innovation march.
7 million jobs will be created in formal sector in FY18
Instead of a rate hike, or even a pause, there could be a window for the RBI for an interest rate cut
On the basis of Budget projections, the Centre needs Rs 7.3 trillion revenue during December-March and its expenditure must be limited to Rs 6.7 trillion.
Growth impulses, while improving, remain fragile, and a rate hike will be disruptive to interest costs.
Loans, cash credits, and overdrafts at the end of December 22, 2017, stood at Rs 81,287.32 billion, against Rs 73,340 billion in the year-ago period.
Banks might not have realised the exact implication of risky projects under PPP projects, which were getting implemented under high leverage
While RBI's foreign exchange reserves have swelled to over $400 billion, it has a 'sell' position of $981 billion.
Will the Financial Resolution and Deposit Insurance Bill endanger our bank deposits?
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