In Debasish Panda's last board meeting as chairperson of the Insurance Regulatory and Development Authority of India (Irdai), the regulator approved the "R2" licence for Kamlesh Goyal and Prem Watsa-backed Value Attics Reinsurance, making it the first private-sector Indian reinsurer after GIC Re, the public-sector reinsurer. "The authority reviewed and approved the R2 application of Value Attics Reinsurance, making it the first private-sector reinsurer after GIC Re, the public-sector reinsurer.
The bank will now be in a position to resume normal lending activity, including corporate lending, with tightened risk management framework.
FinMin's project will enable tax man to track electronic transactions like RTGS or NEFT.
Analysts on Wednesday welcomed the Reserve Bank's decision to grant bank licences to Bandhan and IDFC, but expressed dismay that only two of the over two dozen aspirants made the cut.
The banking regulator is seeking an early exit mechanism for private banks under Prompt Corrective Action.
In addition to challenges such as reining in non-performing assets (NPAs) and boosting profits, Chaudhry will have to repair the bank's reputation, build internal controls, and improve regulatory relations.
Many are now cheaper after stock splits. But look at key parameters
Fresh hiring might slow as banks likely to focus on improving efficiencies.
The RBI has cited corporate governance and regulatory issues for not extending Kapoor's term. Further, the lender has been directed to search for a successor.
Linking all new floating rate loans to an external benchmark won't impact existing borrowers, so customers who have taken long-term home loans recently should watch things carefully, say Joydeep Ghosh and Sanjay Kumar Singh.
Twenty years after India's insurance sector was opened up, unshackling the control of state-owned companies, as many as 50 private players have set up shop. Along with their foreign partners, private players have brought about a sea change in the product offering, distribution and underwriting processes, and services levels. Yet, India's insurance penetration needle has not moved much.
The first major aspect is that of the veto power to the governor.
Amendment to the Act, sovereign guarantees, investment portfolio, realty holdings, and governance issues to shape valuation.
For development finance institution to succeed now, the government must stand like a rock behind it and be patient.
JM Financial Consultants, Arpwood Capital and Alvarez & Marsal will advise the board going forward
Banking secot to see major changes by 2020.
The interest rate on FDs hasn't changed much over the years.
Calcutta HC dismisses United Bank of India's decision on technical grounds
The windfall from RBI may be used to trim borrowing, help fund Rs 3.3 lakh crore capex plan, capitalise banks and provide fiscal stimulus to some stressed sectors, experts and economists said.
The main concern among industry and market experts is that the governance in these companies needs to be strengthened and the focus on social insurance has to come down.
Poor governance, constant interference of promoters, opposition from unions and talks of being an acquisition target seen as main deterrents.
The gross bad debt of the Indian banking system as of March was at Rs 7.11 lakh crore
The proposal for listing public general insurers had come up in 2007.
The culture of these firms is alien to the Indian financial system. Distressed assets funds are known for their ruthless recovery ethics. Slicing and dicing a company and selling it on a piecemeal basis is their usual practice. This is something Indian banks are finding a little uncomfortable.
Question remains, what happens when the overseeing committees' members themselves are questioned by investigative agencies?
New SDR norms allow promoters to manage debt-laden firms.
This gains importance in the backdrop of speculation on a second term for Raghuram Rajan.
Deutsche Bank could be the next to trim its retail operations.
Criterion for corporates will effectively rule out entry for business houses.
Lenders can now review a borrower account within 30 days of default. Earlier, the banks had to start resolution within one day of default.
The move, amid a rise in slippages from restructured assets, is aimed at resolving stress in the banking system.
It will allow more transparency in policies and flexibility in premium payment, besides improving processing of claims.
The finance ministry is not only keen to split the roles of CMD, but also wants to appoint them for a fixed tenure of five years.
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