The RBI has cited corporate governance and regulatory issues for not extending Kapoor's term. Further, the lender has been directed to search for a successor.
In addition to challenges such as reining in non-performing assets (NPAs) and boosting profits, Chaudhry will have to repair the bank's reputation, build internal controls, and improve regulatory relations.
The new requirements include a shift to cassette swap system, mandate armed guards while transferring money as well as a host of other measures that would require huge investments.
For financial institutions, it will be an opportunity to provide better lending options. For instance, customers who pay their overdrafts on time will get access to more credit and probably at a cheaper rate.
HDFC Bank managing director Aditya Puri, ICICI Bank MD and CEO Chanda Kochhar, and Axis Bank MD and CEO Shikha Sharma did not receive their bonuses in full for financial year 2016-17
Signs of financial stress were visible when the airline reported a loss of Rs 10.40 billion.
Factors like dedicated recovery teams, centralised follow-up on bad loan accounts and resolutions via NCLT are driving the trend
A representative of the Confederation of ATM Industry said ATM players were not consulted about the move and they received the news via media platforms.
Cos ask US treasury to discuss data localisation norms with Indian officials at all platforms the two countries would meet, including G-20, US-India Strategic Dialogue, and IMF Annual Meet.
It is, thus, logical that some compensation is paid to a lender, especially when a customer is poached within two years, Parekh noted.
Analysts say strengthening bank's capital will boost earnings, bank needs chief with long stint to run show
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.
In addition, he will have to move swiftly to control any damage that may have been caused to the bank's image and investor confidence due to the loan controversy
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
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.
The RBI has been critical of banks for using restructuring schemes to hide the stress.
The RBI on April 6 directed all payments service providers to make sure "that the entire data relating to payment systems operated by them are stored in a system only in India."
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.
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