The choice clearly is between prompt corrective action and slow but sure destruction, says Tamal Bandyopadhyay.
Mundra fills the vacancy created by the retirement of KC Chakrabarty in April, two months before his five-year tenure was come to an end.
Even as you fight the ongoing health challenge, here are some tips to strengthen your personal finance in the time of coronavirus.
This was among the few times that TCS had to deploy rapid application development mode, which means changes in the application happen on-the-go.
A mix of industrialists and businessmen, who have inherited riches or rose from humble backgrounds and even endured boom and bust cycles, the top five MPs are illustrative of how the political stock of the wealthy is increasing rapidly.
Meet to review progress on lending, impact of recent rate cuts and what is being done on NPAs, among other things
Banks are seeking an order that Mallya should appear in person before the court.
Some lenders in talks with LIC for pvt placement
RBI declines to accede to plea, upheld by Padmanabhan panel, for priority sector tag; feels move would dilute claims of those needing it more.
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Bank stocks have underperformed in the second quarter of FY'14 with the BSE Bankex declining 18 per cent compared to fall of 1 per cent in the BSE 30-stock index, Sensex, during this period.
Natco Pharma, Wockhardt and Marksans have rallied between 50 and 70 per cent in the year till date.
The Central Bureau of Investigation has started a preliminary enquiry looking into the Rs 950 crore (Rs 9.5 billion) alleged bad loan given by IDBI Bank to Kingfisher Airlines ignoring the company's negative credit ratings and net worth.
United Progressive Alliance-led government proposed lenders as insurance brokers; new FM not too keen, say insurers.
Vijay Mallya on Wednesday gave a proposal to the Supreme Court to repay around Rs 4,000 crore (Rs 40 billion) loan to banks by September this year.
Non-performing assets of banks have been on the rise for past several months due to slowdown in the economy.
In a message to public sector banks (PSBs) that only performers will survive, the government, in an unprecedented move, has decided to allocate capital to only nine PSBs.
SBI leads a 17-member consortium of lenders that is trying to recover dues running into over Rs 7,500 crore (Rs 75 billion) in principal alone from Kingfisher Airlines.
Eight Sensex biggies such as Reliance, L&T, BHEL, SBI and ICICI Bank are among the worst hit.
Lending rates in certain segments may be increased; fixed depositors may lock into existing rates.
On Tuesday, Finance Minister P Chidambaram had more than adequately made clear that the government would be allocating Rs 14,000 crore through Budget, the Financial Services Secretary said.
Rush to offload bad loans indicates a revival in asset-sale market
Indian banks are the 2nd-fastest-growing ones.
The decision in this regard, however, is expected to be taken by the new government.
For the first time, PSU banks will have a non-executive chairman, giving operational responsibility to managing director and chief executive officer.
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Prior RBI permission a hurdle, given its views; business interest needs to be clearer.
Eleven years on, while 80% of scam-hit investors have been fully compensated, more than 50% of the sum is yet to be distributed.
The move also invalidates, albeit temporarily, Mallya's repeated assurances to the court and the public of a revival plan for the carrier.
The fact that Tamil Nadu Chief Minister J Jayalalithaa approved an expenditure of Rs 29 crore for the World Chess Championship between Viswanathan Anand and Norway's Magnus Carlsen to be held here points to the significance the event has for the state government.
Relaxation in KYC guidelines has helped meet the target but this could lead to money laundering and financial malfeasance, it is feared.
India's five leading wilful defaulters are Winsome Diamonds & Jewellery Ltd and associate Forever Precious Jewellery & Diamonds, Zoom Developers, Kingfisher Airlines, Beta Naphthol and Raza Textiles
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Modi government has taken some interesting policy decisions in the 100 days since the time he met President Pranab Mukherjee to present his claim as Prime Minister of the world's largest democracy, says Tanmaya Nanda.
'These are only passing clouds. The banking industry is a century-old industry and this is not the first time it is going through such a crisis.' 'When the economy revives, those companies that are in the infrastructure fields will also get revived.' 'After all, a lot of money has gone into creating assets like power projects and roads, so you can't say money has been wasted.'
'SBI is already too big. Too big to fail.' 'It already is a moral hazard. What will it do with 20,000 branches that it cannot do with 14,000, especially in these days of online and mobile banking?'
Ten trade unions with a combined membership of 15 crore workers in public and private sector, including banks and insurance companies, are on a nationwide strike to protest against changes in the labour laws.
Once these banks start showing losses, they will not be able to pay dividends to the government nor pay taxes, which will further aggravate the situation for the government as its return on investment as an investor would be very negligible for the next few years, says M V Subramanian.
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