Insurers cover the house on market value, and not on construction cost. They also don't insist on bills when giving the policy
He endorsed transparency and financial stability in addition to issues related to inclusive growth and development, write Puran Singh and Nupur Pavan Bang.
'For a responsible person like him to utter such nonsense is shameful.' 'He is not fit to be a director on the RBI central board.'
Penalty must act as a deterrent. If it is too low, it could encourage the regulated entities to lap up penalty instead of complying with the norms, suggests Tamal Bandyopadhyay.
Bad loans continue to originate mainly from state-owned banks, where the top management's responsibility is not linked to career prospects nor has legal consequences, says Debashis Basu.
'The RBI has not allowed any commercial bank to fail in the past three decades.' 'It has always played the role of a matchmaker, but this is the best deal it has stitched,' notes Tamal Bandyopadhyay.
Arun Jaitley had a tough fiscal hill to climb.
'By not only decriminalising routine business failures, but by ensuring that institutional lending and corporate rescue frameworks are strengthened via the IBC, the prime minister has ensured there is no room anymore for the proverbial 'reckless, prodigal debtor',' notes Sanju Verma.
The gross bad debt of the Indian banking system as of March was at Rs 7.11 lakh crore
The economy hasn't gathered even half the traction that some of us assumed it would just a year back.
Such measures are expected to further enhance the protection of investors in the securities market
'The Budget has maintained fiscal prudence while announcing a number of steps to boost growth, particularly in infrastructure and rural sectors.'
While IDBI Bank's 140 million customers and 1800-odd branches will come in handy for LIC to hawk insurance, the bank can use LIC's massive agent network to sell its retail loans. But if it is run the same way it had been in the past and LIC is a proxy of the government, then it has no future, says Tamal Bandyopadhyay.
Conversion of outstandings into equity even partially should be a strict no-no says Chatered Accountant S Murlidharan
At present, Sebi norms bar wilful defaulters from issuing convertible debt instruments.
'Real estate loans are given in the garb of retail loans, sourcing money cheap from the NHB refinance window.' 'This loophole is being plugged,' notes Tamal Bandyopadhyay.
Lack of decisiveness and courage to deal with PSBs may turn out be the biggest impediment to the Modi government's economic initiatives, says Debashis Basu.
SBI has the highest exposure of Rs 1,600 crore to the beleaguered Kingfisher Airlines.
The choice clearly is between prompt corrective action and slow but sure destruction, says Tamal Bandyopadhyay.
The system envisaged under the FRDI Bill, if implemented properly, would help improve the efficiency of capital allocation without harming consumers, and without risking the stability of financial firms, says Ajay Shah.
Indradhanush-II is likely to chart out the process for resolution of non-performing assets.
Dr Swarnim Wagle, the official behind Nepal's reconstruction strategy, speaks to Patrick Ward.
RBI governor Raghuram Rajan says, laws must be tightened for freeloaders.
Industrialist Pawan Ruia's (think Dunlop and Jessop) arrest this month for cheating and criminal breach of trust marked a new low, but the tide had been turning against him for a while now. Ishita Ayan Dutt & Avishek Rakshit report.
In the broader markets, the BSE Midcap and Smallcap indices were up 0.5% each
On Wednesday, the collector had issued an order in favour of the 17-banks consortium led by SBI to take physical possession of the villa
Despite the Indian government's recent efforts anecdotal evidence indicates that there has been little change in the extortionist behaviour of a significant proportion of tax and police officials, says Jaimini Bhagwati.
The Bankruptcy Bill seeks to ensure predictability of outcome for creditors.
Getting the first tyres out from the Sahaganj plant will still require a lot of effort, but with the state government on its side, the hopes are high.
Unless the Taliban goofs up in a big way, which seems highly unlikely, we are looking at a regime that will be around for quite a long while and present a level of governance that the puppets of the richest and most advanced countries failed to provide, predicts Ambassador M K Bhadrakumar.
Finance minister Arun Jaitley has delivered a Arun Jaitley delivered a bold, far sighted budget
Did Jayalalithaa, who was also in jail then, know about these transactions?
'The hour is very late, and the choice between triumph and tragedy knocks at our door,' says Ajay Shah.
'What is critical today in India is confidence of depositors.' 'If you have these kinds of problems spreading like this, the confidence level of a lot of people in the system gets shaken.'
The meeting will be attended by all heads and EDs of public sector banks
Pulbic banks have no reason to cheer Budget announcement.
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.
Govt must take few steps to improve business environment.
The government has provided a long-term vision.
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