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.
Many are now cheaper after stock splits. But look at key parameters
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.
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.
Banking secot to see major changes by 2020.
The first major aspect is that of the veto power to the governor.
The gross bad debt of the Indian banking system as of March was at Rs 7.11 lakh crore
For development finance institution to succeed now, the government must stand like a rock behind it and be patient.
This gains importance in the backdrop of speculation on a second term for Raghuram Rajan.
Criterion for corporates will effectively rule out entry for business houses.
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.
Deutsche Bank in India has managed to avoid the bad-loan problems plaguing its rivals such as Standard Chartered Plc.
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