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.
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.
Experts argue that the top two players in each category will receive funding sooner or later, but for laggards, the market is still challenging
In an email interview with Ranju Sarkar, International Finance Corporation's South Asia director Mengistu Alemayehu explains why the firm is bullish on building affordable homes in India.
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.
Few angels have seen exits; till that happens, they won't be rushing to invest again.
Four years after setting up a "home away from home" in the Franschhoek winelands of Cape Town, he is increasing his investments in the hospitality sector in South Africa.
It is also considering to hike FDI cap for public sector from 20 per cent to 49 per cent
Univariety offers career guidance that is rooted in the real world.
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.
Start-ups line up food street with new-age menu.
Essar group, Bhushan Steel and JSW group likely to be impacted by changes
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