Kerala floods take a toll on small businesses, NBFCs brace for losses
"Our preliminary estimates show we may have to provide for around Rs 60 billion in the balance sheet for the quarter ending on March. The due date for LoUs amounting to Rs 60 billion is falling in the present quarter. This will be a contingent liability for the bank," said a senior executive, on condition of anonymity.
Use of blockchain technology will ensure that banks will not be blindsided like in the case of the Nirav Modi-Mehul Choksi blowout at PNB, says Raghu Mohan.
It is also considering to hike FDI cap for public sector from 20 per cent to 49 per cent
Meanwhile, for the fortnight ended March 20, deposits grew 11.42% y-o-y.
The CBI on Wednesday directed him to contact the embassy of India in a country where he is staying so that his travel to India can be arranged
As their non-performing assets have risen sharply even as loans have remained stagnant, RBI steps in with stringent loan-management measures.
The 14 banks, led by State Bank of India, which lent Rs 6,500 crore (Rs 65 billion) to the airline, are now involved in litigation over the money, as Mallya has sued them in multiple courts.
Demands include 5-day banking, PF to be calculated on total salary and allowances, not only on basic
'I love Vijay. My heart is really broken because I know this is not ideal in the short term for him, but the big picture is really different'
While everybody is talking about the vast potential of 5G, the uptake of such services in India depends on operators getting around 100 Mhz 5G spectrum. At the reserve price proposed by Trai, getting this spectrum will cost a telco around Rs 490 billion. Which amount could be difficult for operators to mop up, given the financial stress they are undergoing, says Kiran Rathee.
The circular says even a day's delay in servicing loans would be now taken as a 'default'. And once in default, for loans above Rs 2,000 crore, the banks will have to arrive at a resolution within 180 days, else lenders will have to file an application under the IBC within 15 days.
Mutual funds have invested nearly Rs 94,500 crore in equities thus far in CY17, compared to Rs 32,000 crore in the year ago period, at a time when foreign investors have turned net sellers of India since August.
The ability of banks to continuously tap funds through the central bank's Liquidity Adjustment Facility lowers their need to raise cash in the markets, which has thwarted the development of a proper money-market yield curve.
The market last tumbled 10% or more in December 2016 following demonetisation. The decline was followed by a sharp rebound. This time the chances of such a v-shaped recovery are less.
With bank stability still high on corporate and investor agenda, Global Finance publishes its 18th annual list of the world's safest banks.
PSB branches will work fulltime on the 1st and 3rd Saturday.
The government would also take steps to promote exports and restrict non-essential imports, said Jaitley
Once criticised as inhibitory, India's strict regulatory norms have protected local banks from the global financial tsunami.
The judge confirmed that the bulk of the evidence submitted by the Indian authorities will be admissible
Report says stressed asset level to peak at 15% in 2014-15.
On the macroeconomic data front, PMI data on manufacturing and services sector will also influence trading
The Reserve Bank of India also banned with immediate effect issuance of letters of comfort which, like LoUs, are used by importers to fund their overseas purchases.
Senior citizens are exempted and they can go to any bank branch to exchange notes tomorrow
The Congress chief spoke to the students on a host of issues, including demonetisation, job loss and his growth as a political leader.
Aircel executives said the company could offer value to big boys like Airtel or Jio as a low-end mobile services brand
Three members will be representatives from the government, and three from the RBI.
Vrde currently manages about $14 billion globally, and has invested nearly $500 million in India in the past five years
Their sky-high profits in an essentially commodity business reflects too little competition.
the training department in most banks is content with asking branch managers to send employees for drab classroom sessions once a year. The perception about such training is obvious from the fact that most branch managers send the names of employees they can do without.
McDonald's asks the consumer whether he wants a hamburger with cheese, with tomato or without tomato. We will also have to deliver products as and when and how the customer wants.
Bankers have decided to fight back against 'arbitrary arrests' and 'harassment' by probe agencies.
The staff of public sector banks had gone on a nationwide strike for two days beginning February 10 after discussions with the IBA failed.
The ministry seeks to make lending requirements flexible for banks financing key stalled projects.
Ajit Mishra, vice president, Research, Religare Broking, answers readers' queries on stocks they own or want to buy.
At present 100% FDI is allowed, of which up to 49% investment in a company can be done through the automatic route
Without bringing sound governance and technical capabilities into the RBI's work, injecting new money sets the stage for a next wave of bad behaviour by banks, warns Ajay Shah.
RBI might further cut rates by 50-75 basis points later.
Strike is total, impacts all branches of PSU and private banks. Clearing operation at RBI also hit.
Bad debt rules are steps in right direction.
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