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.
Yes, provided the financial health of banks is not impaired; but there is a great risk of companies misusing rescue funds.
FinMin's project will enable tax man to track electronic transactions like RTGS or NEFT.
Describing the annual monetary policy announced by RBI Governor D Subbarao as a progressive one, Ernst & Young India's Ashvin Parekh said, "We have almost reached a point where inflation has become unmanageable and RBI has clearly indicated that bringing down inflation to a comfortable level is its top priority."
Describing its choice as a "vote for the future", a distinguished four-member jury selected State Bank of India (SBI) Chairman Om Prakash Bhatt as Business Standard's Banker of the Year for 2006-07.
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.
Many are now cheaper after stock splits. But look at key parameters
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.
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.
The NDA government will be following the footsteps of its predecessor, the UPA, which had introduced the concept of "loan mela" to boost credit by directing banks to lend to people through public meetings.
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.
Banking secot to see major changes by 2020.
The bank will now be in a position to resume normal lending activity, including corporate lending, with tightened risk management framework.
The interest rate on FDs hasn't changed much over the years.
Amendment to the Act, sovereign guarantees, investment portfolio, realty holdings, and governance issues to shape valuation.
JM Financial Consultants, Arpwood Capital and Alvarez & Marsal will advise the board going forward
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.
RTGS is used to transfer large sums, the minimum amount being Rs 2 lakh. This mode is used primarily to facilitate trade and market transactions. The primary beneficiary would be the capital markets.
Calcutta HC dismisses United Bank of India's decision on technical grounds
For development finance institution to succeed now, the government must stand like a rock behind it and be patient.
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.
Question remains, what happens when the overseeing committees' members themselves are questioned by investigative agencies?
Bupa and Axa have already declared their intention to raise stakes.
Poor governance, constant interference of promoters, opposition from unions and talks of being an acquisition target seen as main deterrents.
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.
The proposal for listing public general insurers had come up in 2007.
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 gross bad debt of the Indian banking system as of March was at Rs 7.11 lakh crore
New SDR norms allow promoters to manage debt-laden firms.
Deutsche Bank could be the next to trim its retail operations.
Move to increase 90-day window to 120 days to give more time to borrowers to service loans.
It is up to the bank management to decide which application gets to interact with the CBS
It will allow more transparency in policies and flexibility in premium payment, besides improving processing of claims.
The move, amid a rise in slippages from restructured assets, is aimed at resolving stress in the banking system.
The onus is on you to reject financial products that don't suit your needs.
The move will have cascading effects for lot of related sectors
The first major aspect is that of the veto power to the governor.
Lenders can now review a borrower account within 30 days of default. Earlier, the banks had to start resolution within one day of default.
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