The move will have cascading effects for lot of related sectors
Which entrepreneur would willingly part with her or his hard-earned money for grasping, self-serving politicians? asks Debashis Basu.
'Earnings will be the catalyst for markets to march higher from here on out.'
Investors' wealth eroded by over Rs 4.90 lakh crore on Friday amid a sharp fall in equities. The 30-share BSE Sensex tanked 1,020.80 points or 1.73 per cent to settle at 58,098.92. During the day, it tumbled 1,137.77 points or 1.92 per cent to 57,981.95. The market capitalisation of the BSE-listed firms plummeted by Rs 4,90,162.55 crore to Rs 2,76,64,566.79 crore on Friday.
With March 2016 being the final quarter when banks will have to disclose their stressed assets, the markets are assuming the worst is yet to come
It will be headed by Secretary, Department of Financial Services.
'Your decisions should not be driven by your view on the market, but by your objectives, risk appetite, and time horizon.'
'Considering that an Internet company's market value is largely determined by its direct access to consumers for digital services, and largely served outside a sovereign country's control, it would appear reasonable in trade terms to discuss fees for a seat at the proverbial 'table' of opportunities in the largest open consumer market,' argues Venki Nishtala.
'This issue is related to national security because they were compromising the entire capital markets's core infrastructure by leaking confidential information.' 'What would have happened if the servers had come down?' 'Or some confidential information leaked to terrorists who could have knocked out our capital market?'
The BRICS Summit tonight decided to establish the new development bank with an initial authorised capital of $100 billion.
The Arun Jaitley-led finance ministry reiterated banks should act tough on wilful defaulters.
Tactical investors should have an investment horizon of around six months to one year, long-term investors should stick around for 10 years or more.
The government is considering a proposal to privatise some state-owned banks in phases.
The next step for the Life Insurance Corporation of India is to approach market regulator Sebi, as the bank, which is also state-owned, is a listed entity.
Indian banks have started exploring opportunities in the space, including lending to crypto exchanges, and accepting bitcoins as collateral, among others.
Metal stocks fell on Tuesday, with the S&P BSE metal index sliding 2.8 per cent compared to the 0.64 per cent fall in the benchmark S&P BSE Sensex
Fitch Ratings on Wednesday said India's high fiscal deficit would pose a challenge in lowering the debt to GDP ratio, which is expected to rise above 90 per cent in the next five years. It said India entered the pandemic with little fiscal headroom from a rating perspective. Its general government debt/GDP ratio stood at 72 per cent in 2019, against a median of 42 per cent for 'BBB' rated peers.
'The approach today is, instead of giving loans to 100 MSMEs, let us give one loan to a big-ticket corporate.' 'And so many of these big fish deceived the banks and the banks are in the doldrums now with high NPAs.'
The Securities and Exchange Board of India (Sebi) is in the process of issuing a standard operating procedure (SOP) for designated depository participants (DDPs) regarding disclosures and onboarding of foreign portfolio investors (FPIs), according to a regulatory document seen by Business Standard. DDPs act as a link between the markets regulator and overseas investors. The SOP, framed in consultation with the industry, aims to bring consistency across all players and avoid any form of regulatory arbitrage.
The total quantum of non-performing assets in the Indian banking system increased to Rs 7.33 trillion as of June 2017, from Rs 2.75 trillion in March 2015.
Sensex, Nifty end the day in red on unfavourable cues from global markets.
With their weak metrics and high bad loans, India's state-run banks have not been investor favourites
Banks are in need of government support to manage the stressed assets
Instead of getting swayed by market gyrations, investors must stay invested for the long term, advises Sarbajeet K Sen.
PEs and VCs are taking a closer look at their bouquet of investments. Leading voices in the sector are categorical that cash-burn rates -- that's blowing up equity to acquire market share -- as a business model can't continue to be the polestar.
India has a unique window of opportunity to effectuate long-lasting structural change in its banking sector, says Riju Agrawal.
Private sector lenders have been communicating to their customers about their strong capital positions but it has not put depositors at ease.
Currently bankers are trying to stave off bankruptcy even as media reports said Etihad Airways, which already owns 24 per cent in the airline, has teamed up with the Hindujas to buy the airline.
The evolving RBI-government relationship, a reversal in the interest rate cycle and return to profitability will dominate bankers' conversation this year, says Tamal Bandyopadhyay.
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
At its 58th annual convocation to be held on March 22, Bhattacharya will be conferred the prestigious Sir Jehangir Ghandy Medal for industrial and social peace.
Any change in rates would mean more volatility; else, poll outcome-fuelled rally expected to continue.
The International Monetary Fund (IMF) on Tuesday slashed India's growth forecast for 2022-23 (FY23) by 80 basis points to 7.4 per cent, citing less favourable external conditions and rapid policy tightening by the central bank. In its update to the April World Economic Outlook, the IMF said that though a global recession in 2022 was ruled out with a growth estimate of 3.2 per cent, the balance of risks was squarely to the downside, driven by a wide range of factors that could adversely affect the global economic performance. "The risk of recession is particularly prominent in 2023, when in several economies growth is expected to bottom out, household savings accumulated during the pandemic will have declined, and even small shocks could cause economies to stall.
Observing that there is liquidity overhand of Rs 13 lakh crore in the system, RBI Governor Shaktikanta Das said on Friday that the exceptional measures undertaken during pandemic will be dealt in sync with macroeconomic developments to preserve financial stability. Since the onset of the pandemic, the Reserve Bank has maintained ample surplus liquidity to support a speedy and durable economic recovery, he said while announcing the outcome of the Monetary Policy Committee (MPC) meeting. The level of surplus liquidity in the banking system increased further during September 2021, with absorption under fixed rate reverse repo, variable rate reverse repo (VRRR) of 14 days and fine-tuning operations under the liquidity adjustment facility (LAF) averaging Rs 9 lakh crore per day as against Rs 7 lakh crore during June to August 2021, he said.
Despite the national capital recording its best air quality on Diwali day in eight years, pollution levels may rise due to low night temperatures and sporadic burning of firecrackers though there is a ban on their manufacture, storage, sale and use within the city.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
'No commercial bank will be allowed to fail. There is nothing to worry about.'
India's economy continues to be robust, but downside risks such as rising crude oil prices, adverse weather conditions, and the global banking crisis outweigh the upside potential in gross domestic product (GDP) growth in the current financial year (FY24), the finance ministry said on Tuesday in its Monthly Economic Review for March. "We reiterate that downside risks to our official forecast of 6.5 per cent for real GDP growth in FY24 dominate upside risks," the review said. "Opec's surprise production cut has seen oil prices rise in April, off their lows of low-seventies per barrel in March.
On February 22, 2013, the Reserve Bank of India issued guidelines on 'Licensing of New Banks in the Private Sector'.
New regime on loans to one party to kick in by Apr 2019.
