However, the Indian capital markets regulator rejected the claim saying it neither received any such request, nor provided any such information to the concerned department in Antigua.
The bosses of SBI, Union Bank and Central Bank have been driving down to their offices everyday to take stock of the biggest loan drive ever undertaken for MSMEs, discovers Tamal Bandyopadhyay.
'The solution is to enable a graceful transfer of the deposit and funding 'franchise' from capital-deficient firms to capital-surplus firms.' 'This will expand credit intermediation, bring down its costs, and put the financial sector on a definite path of recovery,' argues former RBI deputy governor Viral Acharya.
The only real solution to the jobs crisis, whether in India or abroad, is to direct tech innovation towards job enhancing sectors, and disincentivising job-replacing ones, observes R Jagannathan.
Re-rating of Bharat Petroleum Corporation, Container Corporation, Shipping Corporation, SAIL, and Hindustan Copper, for which the government has already shown intent to divest its stake, possible now, say analysts.
Most of the session's gains for both the indices were wiped out as investors rushed to book profits ahead of F&O expiry on Thursday and also due to concerns over stretched valuations.
The insurance regulator wants the removal of the minimum entry capital requirement of Rs 100 crore for setting up an insurance business in a bid to facilitate the entry of multiple players such as standalone micro insurers and niche players. Debasish Panda, chairman, Insurance Regulatory and Development Authority of India (Irdai), said it should be left to the regulator instead to decide what should be the entry fee for interested players, depending on the size of the business and operations. According to the current norms, insurers are required to have a minimum paid-up capital of Rs 100 crore.
Provided talks on the matter are fruitful, the dividend payout will made during the current RBI financial year ending June 30, 2018.
'At the first board meeting I chaired, I sensed that corporate governance is an issue in this company.' 'I started taking steps that may have aggrieved a few.' 'This has now become a mission I intend to accomplish before I step down.'
The 30-share Sensex ended down 215 points at 27,011.
India's good fortune, experts in the US feel, is not the result of a fundamentally strong economy, but because it is the best of a bad set of options.
SBI is keen on big overseas acquisitions that will give it a 'strategic fit' along with new products and access to cheaper capital. SBI is not keen on small foreign banks worth a few millions, chairman O P Bhatt said.
China's economy is in transition, with rising wage costs and massive overcapacity.
Country's largest lender SBI on Tuesday said it is likely to raise Rs 50,000 crore (Rs 500 billion) capital for its expansion plans in domestic and overseas markets in the next three years and proposed a holding company for its non-bank subsidiaries.
Even if Mudra steps in to play its main role of refinancing at some stage, the responsibility for the bad loans remains with the banks.
The system envisaged under the FRDI Bill, if implemented properly, would help improve the efficiency of capital allocation without harming consumers, and without risking the stability of financial firms, says Ajay Shah.
Sensex is trading firm; FMCG, real estate going strong.
Market experts on why the bulls will be on the rampage first thing on Monday after the scrapping of enhanced surcharge on FPIs and other measures to ease the systemic liquidity squeeze and boost demand. Prasanna D Zore reports.
Fresh buying by domestic institutional investors and better-than-expected June quarter results from some blue-chip companies boosted investor sentiment
Did you know that women can avail for a loan of upto Rs 20 crores to set up a manufacturing business?
After 3 weeks of consecutive rally, this week was a breather for the index, which corrected by almost 1.5%.
Currently, banks follow system of internal benchmarks, including Prime Lending Rate, Benchmark Prime Lending Rate, Base rate and Marginal Cost of Funds based Lending Rate.
One-sponsor-one-fund rule may set off merger as Amundi seen sponsoring two funds following buyout.
Pharma shares extended losses after the government's ban on combination drugs.
Under Section 71 of the legislation, which took effect this month, corporate bond issuers have to create a debenture redemption reserve equivalent to at least 50% of a planned bond sale before the maturity of the security.
Fitch said the full implications of Patel's resignation will only become clearer once there is some indication of the RBI's policy approach under his replacement, Shaktikanta Das
Analysts said even though the Indian economy is expected to slow down to 7.2 per cent in fiscal 2020, it is still the best bet for investment for foreign investors.
The sad truth is that the debt-to-GDP ratio will shoot up close to 90 per cent in the coming year, and the fiscal deficit glide path does not promise to reduce it substantially any time soon, predicts Mihir S Sharma.
The finance minister is ready to present a second financial package. The Centre has ruled out a mega stimulus and will rely on targeted, incremental packages. Industry is clamouring for a bailout, the liquidity upheaval in capital markets is nowhere close to being sorted out, and all budgetary forecasts now stand irrelevant, reports Arup Roychoudhury.
'At present Metaverse is a hype cycle.' 'If it succeeds, then I would like to see TCS there, too.'
Sensex climbs higher at close, bluechip stocks in focus.
DEA is currently headed on an interim basis by Corporate Affairs Secretary Tapan Ray
State Bank of India on Monday invited bids from strategic as well as financial bidders for stake sale in ailing Jet Airways, and the bids have to be submitted by April 10, said a public notice.
Auto stocks led the rally with Tata Motors, Hero MotoCorp and Maruti Suzuki leading the gains.
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.
To attract potential suitors, the government will ease asset valuation norms for Air India by allowing bidders to put in offers on an enterprise value basis, a source said on Monday. To begin with, the government is likely to further extend the deadline for putting in a preliminary expression of interest for the loss-making national carrier to December 15. The source said bids will be sought on an enterprise value basis - a popular valuation methodology for takeover deals.
During the current financial year, 25 companies have raised Rs 28,220 crore through IPOs
WhatsApp on Wednesday said it expects to facilitate the purchase of "affordable sachet-sized" health insurance through its platform by the end of the year as part of its efforts to provide users in India with greater access to financial solutions. The Facebook-owned company noted that its 'Payments' feature is now available to users across the country (currently up to 20 million users) with support from banking partners - State Bank of India, HDFC, ICICI and Axis Bank.
'I can confidently say there will be another financial crisis soon enough, and probably more than one global crisis within the next century, given the increasingly integrated nature of the global economy.'
