Once these banks start showing losses, they will not be able to pay dividends to the government nor pay taxes, which will further aggravate the situation for the government as its return on investment as an investor would be very negligible for the next few years, says M V Subramanian.
RBI may also be open to injecting liquidity through open market purchases of bonds but is resisting relaxing capital buffers for banks.
'...Rs 137 lakh crores of people's money?' 'It is not the government's money, it is people's money.'
Next set of Q4 FY16 earnings, progress of monsoon along with election poll outcome will dictate market trend this week
BoB now has over 9,500 branches, 13,400 ATMs, 85,000 employees to serve 12 crore customers.
'The PCA framework was revised and tightened in April 2017, but there was no discussion in any board meeting. The government does not know the rationale behind revising the framework and how the RBI arrived at it. Similarly, there was no discussion in the board meeting on the revised NPA framework,' said an official.
Indira Gandhi valued Rahul Gandhi's 'grit and determination' and often considered him mature enough to be taken into confidence on subjects she avoided discussing even with his parents when he was barely 14, according to a new book.
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
According to the RBI's Financial Stability Report, the industry's gross bad-loan is at a 14-year high. As RBI's March 2017 deadline for banks to clean up soured credit looms closer, Shailajanand Mishra takes stock of just how bad the situation is.
After hearing a length petition filed by the Anjuman Intazamiya Masjid of Varanasi and other connected matters, Justice Prakash Padia adjourned the hearing of the case till July 6.
'I suspect the recovery that the banks are going to get out of this IBC is not going to be more than 30 per cent.' 'If you leave the steel industry aside, the recovery rates are not looking very, very healthy,' Jairam Ramesh tells the Rajya Sabha.
The S&P BSE Midcap and the S&P BSE Smallcap indices under-performed to lose 0.8% and 1.6%
According to ED sources Sunil Mehta said the fraud took place due to "systemic failure" and "procedural lapses", owing to lack of interface or proper links between the core banking software and the SWIFT interbank messaging system.
On BSE, 1,826 shares declined and 982 shares rose, while a total of 194 shares were unchanged
The Uttar Pradesh police on Thursday arrested five people, including a man who they claimed to be the personal secretary of former minister Swami Prasad Maurya, for allegedly duping unemployed youth on the pretext of giving them government jobs.
Lakhs of devotees on Thursday thronged the Ganga banks in Haridwar, including Har Ki Pauri, to take a dip in the sacred river on the occasion of Makar Sankranti which also marks the first major bath of the ongoing Ardhakumbh mela in Uttarakhand.
On the sectoral map, consumer durables stayed in the lead by surging 2.39 per cent, followed by realty index, oil and gas and infra.
Test your knowledge about India's cities.
Government to infuse funds in cash-strapped banks.
UV Asset Reconstruction Company Ltd has made the highest bid of Rs 16,000 crore to buy Anil Ambani group's Reliance Communications and Reliance Telecom, which are in the National Company Law Tribunal (NCLT). Last year it was the highest bidder for taking over Aircel's assets for an upfront payment of Rs 150 crore. Surajeet Das Gupta and Dev Chatterjee dig deeper to find out more about this little known company.
The 12,350 sq mt Villa was once used by Mallya to host lavish parties in his 'good times'.
Bharti Airtel , RCom and Tata Communications ended down between 0.1-1%.
Buyer actor-producer Sachiin Joshi, who owns Viiking Media, has reportedly bought the villa, spread over 12,350 sq ft or three acre at Candolim.
FinMin finally sacked executive directors K V Brahmaji Rao and Sanjiv Sharan on January 18. The bank's board, however, had felt they had no criminal intent and it was a case of 'casual oversight'
The S&P BSE Sensex closed 318 points at 24,455 and the Nifty50 shed 99 points to end at 7,438.
The venue for Saturday's meeting was shifted at the last minute from the headquarters of the India Banks' Association in Cuffe Parade to avoid media glare.
No Service Chief to date has had the guts to streamline the procedure in conjunction with the Election Commission and ensure every soldier votes in his/her place of posting, observes Lieutenant General Prakash Katoch (retd).
Broader markers outperformed their larger peers.
Metal stocks also had a good session, with JSW Steel zooming by 7%, and Tata Steel and Nalco gaining about 3% each.
'Imagine for a soldier -- first you conquer territory after fighting a fierce battle, suffer casualties and then you are ordered to come back to your side of the International Border in India.'
ugar mills in UP owe thousands of crores to cane farmers.
The Supertech twin towers in Noida were demolished on Sunday, a year after the Supreme Court's direction to raze the illegally built structures to the ground. The nearly 100-metre-high structures - taller than Delhi's iconic Qutub Minar (73 metres) - were brought to the ground in seconds literally like a house of cards by the 'waterfall implosion' technique, in a breathtaking spectacle of modern day engineering. They were the tallest structures to be demolished in India.
The force will provide security to the high court, district courts, administrative offices and buildings, Metro rail, airports, banks, financial institutions, educational institutions and industrial units. Members of this force can arrest any person without the orders of a magistrate or a warrant.
The benchmark BSE Sensex reclaimed the 28,000 mark, spurting by 409 points or 1.4% at 28,114 and Nifty settled above the 8,500 mark at 8,532, gains of 111 points.
As many as 17 locations in Delhi, Mumbai, Hyderabad, Jaipur and Surat were raided by the ED.
HDFC, TCS, RIL, ITC and ICICI Bank dragged the Sensex by over 100 points.
On Tuesday, Finance Minister P Chidambaram had more than adequately made clear that the government would be allocating Rs 14,000 crore through Budget, the Financial Services Secretary said.
Oil tanked to a 7-year low as OPEC decided to maintain production.
Two women candidates; Lok Sabha Speakers; Chief Justices; A Chief Election Commissioner; drafters of the Constitution; the RBI's first Indian governor; a farm leader who unsuccessfully contested four times; an iconic Bharata Natyam dancer...
The broader NSE index has fallen about 0.9% as investors wait for corporate results
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