A look at this week's hits and misses.
A look at this week's hits and misses.
'India is not so distant from years of high and entrenched inflationary expectations that it should start trying to play games with the economy the way the West's central bankers think they are entitled to,' argues Mihir S Sharma.
'The snakes and ladders game will continue till the consolidation process is complete simply because we don't know how bad the scene is, with some of the banks being merged,' says Tamal Bandyopadhyay.
Finance Minister Arun Jaitley said the magnitude of the alleged black money transfer through state-owned BoB will only be known after completion of the multi-disciplinary probe.
The recent three-bank merger seems to be grossly negative for Vijaya Bank and Bank of Baroda in the short term, as the negative net worth of Dena Bank will have to be absorbed by the merged entity
Private equity (PE) is set to play a bigger role in banks. Of 21 recommendations accepted by the Reserve Bank of India (RBI) out of 31 made by its Internal Working Group (IWG), its stance on non-promoter holdings in private banks is seen with excitement, though it doesn't refer to PEs explicitly. On non-promoter holdings in these banks, the RBI said this will be capped at 10 per cent of the paid-up voting equity share capital in the case "of natural persons and non-financial institutions and entities"; and "at 15 per cent for all categories of financial institutions, entities, supranational institutions, public sector undertaking, or the government." While this is a modification of the IWG's stance for the non-promoter holding in banks at up to 15 per cent, it does open up a huge window for PEs, all the same. This is because, while the RBI has remained silent on the eligibility of industrial houses for bank licences, fresh high-quality capital in large amounts can only come from PEs.
Liverpool's Trent Alexander-Arnold scored with a spectacular strike as they overcame the loss of three players to suspected positive COVID-19 tests and conceding an early goal to beat Newcastle United 3-1 in the Premier League on Thursday.
The Assam-Mizoram violence is an outcome of BJP trying too hard to 'integrate' distinct northeastern states, explains Shekhar Gupta.
Bank of America on Tuesday said it was committing additional capital to the tune of $175 million (Rs 767 crore) for shoring up its India franchise.
The Bank has a total staff strength of over 36,000. The bank had opened 11 new branches abroad and 125 domestically, in 2007-08. At present, it has 74 branches abroad in 25 countries.
BoB's offer of a lower home loan rate to customers with credit scores of 760 and above makes it incumbent on everyone to pay heed to this all-important number.
Piku, on the other hand, is a big hit.
Trade analyst Vinod Mirani gives the box office verdict for the week.
Many fear that in practice if banks make their customers pay to hold their money, it might lead to a situation where consumers hold on to cash.
The S&P BSE Sensex shed 119 points to close at 27,977 and the Nifty50 dropped 45 points to finish at 8,591.
In yet another ceasefire violation, Pakistani Rangers on Thursday night resorted to small arms firing on border out-posts along the international border in Jammu, prompting BSF to retaliate.
The group, headed by former RBI deputy governor H R Khan, has also pitched for liberalised investment cap, review of prohibited sectors for foreign investment for FPIs, permitting FPIs for off-market transactions and review of restriction on sovereign wealth funds for investment in corporate debt securities.
Driven by a surge in remittances by expatriates and software exports, India's balance of payments saw a surplus of $1.90 billion on current account for the first quarter ending June 2004 as against a deficit of $637 million
A look at the hits and flops of the week.
The choice clearly is between prompt corrective action and slow but sure destruction, says Tamal Bandyopadhyay.
After removing three PSBs - BoI, Mahabank and OBC from the framework, RBI, on Tuesday, took out three commercial banks - Allahabad, Corporation and Dhanlaxmi from the said list.
Indian banks have started experiencing the ripples of the US subprime crisis. While ICICI Bank is provisioning an additional $70 million (around Rs 280 crore) to cover its losses on exposure to credit derivatives, Bank of Baroda on Wednesday said it will provision an additional $2.50 million (around Rs 10 crore) for its investments in Credit Linked Notes.
Reserve Bank carried out the investigation and noted the deficiencies which were reflective of weaknesses and failures in internal control mechanisms
Violating the ceasefire, Pakistani troops on Sunday fired on border out posts along the International Border in Jammu district.
Board of Approval has asked the Goa government to compensate the denotified developers over the SEZ issue.
Gota has to decide if he could order elder brother Mahinda's arrest as the agent provocateur of Monday's violence. Then he has to prepare for an interim government, in which no one would now want to become a cabinet minister leave alone prime minister, explains N Sathiya Moorthy.
A look at this week's hits and misses.
The dry spell at the box office continues.
"According to the global financial services major, though CAD at 3.2 per cent of GDP is significantly lower than the 4.8 per cent it registered in fiscal year 2012-13 ", it still remains higher than the 2.4 per cent of GDP that we estimate as the optimal current account deficit".
Here's why Salman Khan is the numero uno of Bollywood!
A look at this week's hits and misses.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances