'The Insolvency and Bankruptcy Code is neither beneficial to banks nor helpful for the borrower.' 'Genuine people who are caught in economic stagnation will lose everything and thousands will lose jobs.'
Riding on a strong market sentiment, these stocks have outperformed the bellwether. The flip side is, they can fall faster when the tide turns.
Five photos of western style toilets were presented to convince the court that acceptable standards would be extended to Mallya.
Investment advisor S P Tulsian and Shahina Mukadam (of IDBI Capital Market) pick out the winners and losers, based on Q1 results of companies.
Mallya has lived on the edge for long enough to know that his extradition from UK is not a given, says N Sundaresha Subramanian.
The Reserve Bank has asked the public to pay their income tax dues well in advance so as to avoid standing in long queues and stated that 29 agency banks are also authorised to accept such payments.
The value of transactions through debit and credit cards used at the PoS fell to Rs 64,200 cr in February
However, it is understood that the liquor baron has suggested his legal team can help ED in taking the probe forward.
The 17-lender consortium, led by State Bank of India had put on auction the property with a reserve price of Rs 115 crore, which was 15% less than the second auction of the property held in August
RBI had asked banks to price fixed rate loans of up to three years based on marginal cost of funds from April 1
The next phase is when factors such as prison conditions in India are likely to take centre-stage.
PNB reported the maximum number of such frauds.
Diageo, which had acquired Mallya's United Spirits nearly six years ago, is claiming $40 million paid to the liquor tycoon as part of an alleged breach of agreement.
Kotak Mahindra Bank's acquisition of ING Vysya Bank is the country's first ever amalgamation of a profit earning entity post the global financial meltdown in 2008.
The banks used for the fraud include ING Vysya Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, IndusInd Bank, Dhanlaxmi Bank, YES Bank and DCB Bank.
Friday's US data showed addition of 173,000 jobs in August.
The trouble-torn 2,184 MW Dabhol power project is all set to be restarted with General Electric, one of the major equity holders, slated to reach an agreement with Indian financial institutions by this month end.
Though most experts remain bullish on the banking space, they suggest investors buy only those banks whose NPAs are at a manageable level of 3% to 4% and there is credit growth or earnings visibility.
The Industrial Development Bank of India-led consortium will meet the foreign lenders in London on Wednesday for taking over their outstanding dues in the troubled Dabhol Power project.
Anil Khandelwal, Chairman of Bank of Baroda, expects a 25% credit growth in FY07. He says that BoB did not bid for UWB due to their existing presence in Maharashtra. He adds that the UWB branches will give IDBI good reach and size.
Sebi takes 6 merchant bankers to task for lapses in IPO
The Bombay high court has given its go ahead for transfer of assets of the 2,184 MW Dabhol power plant to Ratnagiri Gas and Power Pvt Ltd, paving the way for restarting the plant before the end of 2006.
The country's largest lender, SBI, has reduced marginal cost of funds based lending rate by 0.9 per cent from 8.90 per cent to 8 per cent for one-year tenure, the bank said in a statement.
State Bank of India (SBI) on Wednesday reduced interest rates on loans for car and consumer durables and also decided to lower processing charges to cash in on the festival season demand.
Senior bankers are trying to impress upon the central bank that the shift to external benchmark-linked lending be postponed to April 1, 2020.
Auto stocks are weighing on the indices.
RBI Governor Raghuram Rajan asked banks to follow suit and pass on the rate cuts.
Mallya said the allegations of money laundering and stealing money against him are 'completely false'.
Corporate ministry documents show that the Siva's firm kept taking loans from public sector banks like State Bank of India, Punjab National Bank which gradually turned to bad loans.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances