Bankers said the mammoth task of cleaning up the PSBs and improving their health will be a mammoth task for any chief executive.
Top bankers have hailed the contributions of the outgoing Reserve Bank Governor Duvuuri Subbarao saying he did his best during a tenure that was marked by difficult times for the economy.
Wipro, Steel Authority of India, HDFC Bank, Mahanagar Telephone Nigam, Bharat Heavy Electricals and Reliance Commnications among companies reporting a decline in headcount in FY17.
Home loans also pose lower bad-debt risks for the banks than corporate loans.
The government is expected to dole out some populist policies, especially for the rural / farm sector while presenting the interim budget, given that the country is heading towards general elections over the next few months.
'If their allocation to certain segments have become high due to strong returns over the past three-four years, they should rebalance their portfolios and bring them in line with their long-term asset allocation.'
The preference for digital banking now cuts across all customer segments.
Overseas investors, as well as other key stakeholders, such as brokers, custodians, and clearing corporations, are yet to iron out critical issues, even as the shift towards a shorter trade settlement cycle approaches new phases. Several industry players said foreign portfolio investors (FPIs) are still facing impediments over the trade confirmation timelines, foreign exchange (forex) bookings, and pre-funding requirements. This could potentially act as a roadblock when it comes to moving entirely to the new T+1 settlement cycle from next year.
'The book captures Rana Kapoor's hunger for real estate leading to bungalows in Delhi, Mumbai, London and other cities; the multiple companies -- over 100 -- to fund his family's various ventures; the attempt to game the system by showing lower non-performing assets,' notes Joydeep Ghosh.
The Reserve Bank of India (RBI) recently said no entity in the card transaction or payment chain, apart from the card issuers and card networks, will be allowed to store sensitive user data from January 1, 2022. Instead, in transactions card data will be converted to tokens.
RuPay is working on how to increase offers to customers. It is also focused on technology innovation in the card payment system.
Report holds Hitachi responsible for debit card data theft. When the data theft came to light, Hitachi had denied that its systems were compromised.
RBI seeks detailed report on what happened between 2011 and now; bankers to recall loans to Nirav Modi entities.
The agency on Monday questioned three general managers of the Punjab National Bank who have handled the -International Banking Division and Treasury department of the bank, officials said without revealing their identity.
He will be in Mumbai for a day to deliver a keynote address at Future Unleashed.
Recently, Slice, a payment app, acquired a 5 per cent stake in North East Small Finance (NESF) for $3.42 million - the first such deal by a fintech in a small finance bank. Slice (valued at $1.5 billion, and backed by Tiger Global, Blume Ventures and Axis Bank) will technically get a toehold in a scheduled commercial bank if NESF were to get a licence to morph into one down the line Such a transition is well within the banking regulator's declared framework. The transaction has to be seen in a larger context.
Select companies in infra, capital goods, private banks, auto, oil & gas, and mining could be considered by investors.
More than ever before, women voters can make or mar a political party's electoral fortunes.
Tesla Inc chief Elon Musk is set to acquire micro-blogging site Twitter for about $44 billion. Back home, India Inc, too, is seeing aggressive merger and acquisition (M&A) activity with PVR-Inox and HDFC-HDFC Bank announcing their mergers recently. While Axis Bank recently acquired Citi India's India retail business, reports suggest Larsen & Toubro Infotech (LTI) and Mindtree could be eyeing a merger.
'Start-ups that generate a majority of their income in India are likely to opt for an Indian listing.'
For FY21, CSB is looking at growth of around 25 per cent and is confident of doubling it in two years. And it is also exploring options to acquire a mid-size bank with a good client base and branches in the north to acquire an all-India presence.
The jewellers and companies linked to Nirav Modi and Mehul Choksi had allegedly colluded with PNB officers to obtain fake bank guarantees to get loan from overseas branches of Indian banks including Allahabad Bank, Axis Bank and UCO Bank.
Apart from fulfilling banking services, one can access more than 100 e-commerce sites, book tickets, and even pay for small value groceries through the app. The bank is now proposing to allow other banks to use this to serve their own customers.
There is a dearth of talent in the Indian banking industry. A testimony to this is the two new CEOs in the private sector -- Sandeep Bakhshi in ICICI Bank Ltd and Amitabh Chaudhry in AXIS Bank Ltd -- have come from the insurance sector, says Tamal Bandyopadhyay.
It's not e-retailers alone. Bankers are also celebrating initiatives like 'Big Billion Day Sale' this festive season.
'By not letting bankrupt banks fail, we have discouraged ordinary folk from taking precautions while choosing their bank or at least when they hear bad news about their bank,'says S Muralidharan, former MD, BNP Paribas.
Axis Bank, HCL Technologies, Maruti Suzuki, NBCC and Union Bank are their top five stock picks.
Analysts expect the indices to dip further if the global macros do not stabilise
21 banks have launched United Payments Interface application.
'She was either overconfident that nothing will happen to her or she underestimated the gravity of the allegations.'
State Bank of India hikes lending rates, and other banks pick up the signal.
June was a memorable month for the 101-year-old Tamilnad Mercantile Bank (TMB). Last month, the Thoothukudi-based bank witnessed two new landmarks in a history in which the last three decades could easily qualify for a Kollywood blockbuster.
The interface allows you to add multiple banks and transfer money, even between payment wallets, for a fraction of existing costs
Shareholder advisory companies are raising eyebrows at the ICICI Bank board not being aware of Firstland's investment in NuPower
Experts tell Tinesh Bhasin how to pick one to save money as well as some troubles later
The CBI and ED are keeping a close eye on several bank accounts.
'Policy was more in line with the expectations.'
HR experts believe however that times are changing and more and more companies are planning a revamp of their appraisal systems
Major global indices like CAC 40, DAX Shanghai Composite, Hang Seng, Nikkei, Straits Times, Sensex, Nifty have lost 1% - 10% in a week
