PNB has rich experience in the integration of commercial banks.
It has been a year since the Reserve Bank of India (RBI) initiated prompt corrective action (PCA), an exercise that puts weak banks under central bank scrutiny, against the 94-year-old Lakshmi Vilas Bank (LVB). But recently, this low-profile Chennai-headquartered bank found itself attracting some unwonted publicity when 60 per cent of its shareholders voted against a proposal to re-appoint seven directors, including one of the promoters, K R Pradeep (who holds around 2 per cent), and the company's managing director & chief executive officer S Sundar.
Fund managers said investors remained positive on the pharma manufacturing activity in India, which further strengthened during the Covid-19 period, on account of restrictions imposed on pharma imports from China.
While Dhanlaxmi Bank faces governance issues similar to those in Lakshmi Vilas Bank, the financial profile of the Kerala-based bank is better.
Nearly half of the investments by various US-based investors have been made in Reliance subsidiary Jio.
The public sector lenders saw the biggest rebound in inquiries in July and August 2020, most likely because they were early in recommencing operations than their private and finance counterparts.
Banks say they themselves red-flagged the transactions to RBI. It must be noted that these transactions are not outright evidence of fraud or proof of nefarious activities.
The drop was the result of the change in FDI rules, which was amplified by the border standoff between India and China.
Recovery was largely driven by the European Union markets.
'The economy is expected to bounce back and things are expected to recover faster than what we previously thought.'
The pandemic has confined students across all ages to home and digital education is the only way to continue learning.
Seed and early-stage start-ups are high-risk businesses, rarely have collateral and only 1 in 10 of them makes it to becoming a viable company.
As macroeconomic numbers continue to disappoint, reaching pre-Covid level is unlikely in FY21.
The company signed a JV agreement with Coal India to set up 5000 Mw of solar and thermal projects. These projects are expected to commence between 2023 and 2027.
Relations with the government, the bank's majority owner, are a tricky issue for all SBI chiefs, and, like all his predecessors, Khara will be closely watched for his equations with the finance ministry representative on the SBI board.
Increase in kharif sowing area, good monsoon, rural cash flows and base effect among factors that have driven volumes.
The net outward foreign direct investment went up from $9.1 billion in 2017-18 to $12.6 billion in 2018-19 and moved further north to $13 billion in 2019-20.
The dispute arose after Nissan alleged that Tamil Nadu hadn't paid certain incentives under a 2008 agreement to set up a car plant at Oragadam, near Chennai.
'Mostly, the relief, if needed, would be for housing loans where a person has lost a job and is unable to pay his EMI or there has been a temporary salary cut.'
An EV has to be purchased along with the battery as there are hardly any battery swapping, rental, or leasing business models available across India.
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