Banks have been struggling hard to recover dues from grounded Kingfisher Air.
Referring to the government's Make in India initiative, he said India has become a hub of mobile phone manufacturing, which has provided employment to 4-5 lakh youth in the last four years and has helped the country save Rs 3 lakh crore foreign exchange.
If the interest rate on bank deposits is linked to any external benchmark, it would jeopardise the banks' fund-raising ability. Interest rates on small savings schemes are likely to be reduced very shortly, to maintain parity. All these steps would indeed affect retired people, and particularly those dependent on interest income, says Arindam Gupta.
India Inc is borrowing from global firms as interest rates sky rocket in India.
Officials of 17 banks which gave loan to Kingfisher Airlines and UB Group are also under the agency's scanner
Why doesn't anybody ask the PSU State Bank of India under RTI on how much they are spending on legal fees trying to recover money from me in the UK when I have offered 100 per cent payback in India, asked Mallya.
'We may bite the bullet and draw up plans for privatisation.' 'If that is done now, the sale of the government stake will fetch money; a delay will see erosion in whatever value is left in these banks,' says Tamal Bandyopadhyay.
Analysts expect modest recovery in Indian economy.
The broader Nifty ended on top of 9,800 again.
Close to 9 lakh registered companies are not filing annual returns with the ministry of corporate affairs and are a potential source of money laundering, Revenue Secretary Hasmukh Adhia said on Saturday.
Individual banks should break away from the industry pact and have their own settlements with the unions, recommends Tamal Bandyopadhyay.
While the formation of a holding company will not outright privatise State-owned banks, officials believe it will help the Centre deflect criticism arising out of the latest banking scams.
BBPS allows you to pay electricity, telephone, water supply, gas and DTH bills. Its scope will be expanded to include other payments like school and university fees, government taxes, insurance premiums, mutual fund investments, even credit card bills.
As a multi-disciplinary organisation, SFIO probes cases of financial frauds that are referred to it by Corporate Affairs Ministry
Did you know that your home insurance covers valuables in bank locker?
Bankers say there is palpable fear among erring promoters that the banking system just cannot be taken for granted, and any delay in loan repayment could mean promoters losing business
Though most experts remain bullish on the banking space, they suggest investors buy only those banks whose NPAs are at a manageable level of 3% to 4% and there is credit growth or earnings visibility.
The cumulative loss of 20 state-run lenders stood at Rs 14,000 crore during Q4
The Finance Ministry has invited private sector bankers.
Top corporates have paid more advance tax in second quarter this year.
The time is ripe for a merger of eight fund houses indirectly owned and controlled by the central government, says N Sundaresha Subramanian.
Money managers have turned cautious about the technology space.
Private sector banks are way behind their PSU peers when it comes to opening financial inclusion accounts under the Prime Minister's Jan Dhan Yojana
'It is never easy to run a campaign as a woman, particularly a minority woman, especially when you are bucking the establishment.' 'My entire campaign is an act of resistance.'
Nifty snaps 10-day winning streak
The RBI also looked into the effectiveness of systems and processes for implementation of KYC norms
SBI has the highest exposure of Rs 1,600 crore to the beleaguered Kingfisher Airlines.
The Indian Consulate in Sydney was on Monday evacuated in view of the hostage situation in a caf near its premises and all the staff members are safe, the external affairs ministry said.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
B Sriram, the senior-most managing director at SBI, along with fellow MDs Rajnish Kumar, P K Gupta, and Dinesh Kumar Khara had been interviewed for the post
'Investors should not commit fresh money to these stocks right now, unless they can hold for the next three to four years.'
The mass cancellation of coal blocks by the Supreme Court has sent banks in a jittery mode as they have extended over Rs 1 lakh crore loans to power plants that were fed by these mines.
In January 2017, the growth in total premium was Rs 13,138 crore, against Rs 10,284 crore in January 2016, a growth of 28 per cent.
'We can't have the best of both worlds -- large, efficient, world class government-owned banks, doing social banking and making profits. 'Why not set them free from the shackles of such obligations and run them as business units?' says Tamal Bandyopadhyay.
Govt renews search for five PSU bank chiefs; norms relaxed.
BoB's offer of a lower home loan rate to customers with credit scores of 760 and above makes it incumbent on everyone to pay heed to this all-important number.
CEA offers three compelling arguments in his case for privatisation of government-owned banks.
The Enforcement Directorate, which continued its searches against Modi, Choksi and their companies for the fourth day on Sunday , is also moving to attach at least two dozen immovable properties under the Prevention of Money Laundering Act.
