Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
SBI raised Rs 8,032 crore (Rs 80.32 billion selling 5.13 crore shares through a QIP in January.
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Foreign investment cap in insurance sector raised to 49 per cent.
Any revision in loan rates would be visible next month.
The central bank gave 11 entities licences to start payments banks.
SBI asked RBI to allow lenders sell loans below the base rates.
With enough liquidity in the system, lending and deposit rates are likely to fall further
With the 50 bps rate cut now more banks are expected to reduce their base rate.
Within hours of rate cut announced by RBI, United Bank has reduced the benchmark lending rate by 0.25 per cent, while other banks including market leader SBI have indicated that they would follow suit.
SBI Chairperson Arundhati Bhattacharya said any rate cut by the bank would depend on a lot many factors.
Given that it is only a temporary breather for PSBs, the government now needs to look at the harder options.
Kaushik Basu, whose stint at the World Bank ends on July 31, was being looked at as a serious contender, the sources said
The development of the coal mine located at Queensland in Australia and required infrastructure including railways would cost $7.6 billion.
Employee integration and branch rationalisation are major challenges.
Despite Indian economy recovering, there is very little room for loan growth, say bankers.
RBI rule, applicable prospectively, also for non-group guarantors.
'Consolidation was part of the Indradhanush package.'
Rather, the existing ones should be implemented speedily to clean up the mess.
Lenders fret over stubbornly weak credit growth and still high funding costs.
India Inc has pitched for rate cut to boost economic activities.
Most say a rate cut could come in RBI's June policy.
The Reserve Bank is unlikely to lower the interest rates.
Bankers said high interest rate could make Indian economy sluggish given that inflation is around 5%
'RBI is taking all steps to complete the process expeditiously so as to release firm figures at an early date.'
The Ambani brothers, Mukesh and Anil, came together on Thursday to raise the issue of stalled projects plaguing India Inc and implored the Maharashtra government and the Centre to make Mumbai, India's financial capital, an easier place for business and investments. "Several projects are stuck for many years in Mumbai and we would like to know how the government intends to improve the financing and execution of projects, including those relating to infrastructure and education which have been in limbo for long and are affecting the growth of the city," Reliance Industries Ltd (RIL) Chairman Mukesh Ambani told Finance Minister Arun Jaitley. Seated on the same table was his brother, apart from Tata Group Chairman Cyrus Mistry and State Bank of India (SBI) Chairman Arundhati Bhattacharya. Jaitley was addressing the Mumbai Next MMR Transformation conclave, organised by the Maharashtra government and Mumbai First here, through video conference. In his reply, Jaitley said the government was exploring several options of infrastructure financing in India and that a number of international bodies were ready to fund infrastructure development projects. He added the government was keenly considering these funding sources. While praising Maharashtra Chief Minister Devendra Fadnavis for honesty, Jaitley also had a word of advice. Apart from being honest, the government had to be decisive, he said. On his part, Reliance Group Chairman Anil Ambani told the chief minister about his experience of decisions being delayed due to an indecisive bureaucracy and the need to protect officials who wanted to take quick decisions. "Through the past many years, we have faced a number of obstacles in decision-making," he said, adding he was speaking as someone who had lived and invested in Mumbai. Fadnavis responded by saying he would bring about a transparent process to ring-fence officials. Both the Ambani brothers have announced a number of infrastructure projects in and around Mumbai, including a world-class convention centre in Bandra Kurla Complex by RIL, but very few have actually fructified. RIL's special economic zone project failed to take off due to land acquisition problems in Raigarh, while a second SEZ near Mumbai is stuck due to lack of clarity in SEZ norms. The first phase of the Mumbai Metro, set up by Anil Ambani's Reliance Infrastructure, was marred by cost overruns and run-ins with the government over fares. Subsequently, the company withdrew from the second and larger phase, citing inordinate delay. Anil Ambani also withdrew from Mumbai's sea link project on the same grounds. The brothers had also bid for a trans-harbour sea link between Navi Mumbai and Mumbai under the Congress-Nationalist Congress Party government, but their bid was rejected. Reliance Infrastructure is also the power supplier to more than half of this city. Participating in the conclave, some of India Inc's leading bankers said making Mumbai a financial hub would take at least a decade. SBI's Bhattacharya said the Indian currency should be made fully convertible and facilities should be created for it. "However, for this, the economy needs to look up and that will happen only in the next 7-10 years, not immediately," she added. Sunil Kaushal, Chief Executive Officer of Standard Chartered, India, pitched for strong infrastructure to support development. "We will take a long time to develop into a global financial centre. We need to solve transport bottlenecks in Mumbai and have lifestyle facilities for people working in and around these areas," he said.
'Nobody will wait now. Everyone will come to deposit their old notes. The confidence is shaken.'
Issues related with intellectual property rights, including piracy of films and software, figured prominently during the India-US CEO Forum in New Delhi attended by Prime Minister Narendra Modi and US President Barack Obama.
SBI had a tough journey in the last 40 years.
Financials emerged as the top gainers while auto shares rallied on robust September sales
Stating that its ATM operations are making losses, nation's largest bank SBI has said it is all for charging customers for transactions.
The gross non-performing assets of public sector banks rose to 6.03% at the end of June.
Generally, the central bank grants its approval by mid-March, or latest by March 31, but most banks have not received RBI approval on bonus packages this year.
SBI Caps readies plan, identifies 4 assets; bankers say there are enough bidders.
In an interview with Business Standard, Arundhati Bhattacharya says she expects stalled projects coming back on track in two quarters.
SBI has been reeling under a mountain of bad loans for the past few years as the key sectors in the economy are faltering.
The country's two biggest state-run lenders on Saturday pitched for treating a portion of their gold deposits as part of the mandatory cash reserve ratio (CRR) or statutory liquidity ratio (SLR), both of which banks consider as non-productive.
Ruling out a cut in lending rates, bankers said the status quo policy stance of the Reserve Bank will be followed by them, at least in the near-term.
Dalal Street is bullish on invest
The NITI Aayog may want us to believe this is one of the easiest payment systems in the world, but Tinesh Bhasin decodes the many unanswered queries and concerns involving the United Payments Interface.
RBI said the outlook for economic growth for 2016-17 has turned uncertain after the unexpected loss of momentum by 50 basis points in Q2 and the effects of the withdrawal of banned notes
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