We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
The senior IPS officer said that 45 percent of cyber financial frauds taking place in the country are originating from the South East Asia.
Many banks' profits will take a hit and a few of them could even end up being in the red because of treasury losses, triggered by a sudden spike in government bond yields in the rising interest rate cycle, notes Tamal Bandyopadhyay.
Through Manorathangal, M T Vasudevan Nair makes himself available to a whole new generation of uninitiated viewers, who can familiarise themselves with his rich body of work and hope to learn a thing or two about life in all its messy grandeur and flawed imperfections, notes Arjun Menon.
Joy Thomas stated that one large account -- HDIL -- was the sole reason for the present crisis that led to the regulatory action on Tuesday when Reserve Bank of India superseded its management and placed it under an administrator for the next six months.
ICICI Bank, the country's second largest bank, has sold roughly 45 per cent of its sticky home loans to the Asset Reconstruction Company India Ltd (Arcil) in a first step towards creating a market for retail loans that have turned bad.ICICI Bank sold Rs 360 crore of non-performing home loans at a price around the book cost, confirmed Rajiv Sabharwal, senior general manager, ICICI Bank.
If credit card delinquency spells trouble, there may be questions with regard to the much bigger retail sub-categories of car and housing loans, notes T N Ninan.
Banks have written off bad loans worth Rs 10,09,511 crore during the last five financial years, finance minister Nirmala Sitharaman informed Parliament on Tuesday. The non-performing assets (NPAs), including those in respect of which full provisioning has been made on completion of four years, are removed from the balance sheet of the bank concerned by way of write-off, she said in a reply to Rajya Sabha. "Banks write off NPAs as part of their regular exercise to clean up their balance sheet, avail tax benefit and optimise capital, in accordance with RBI guidelines and policy approved by their boards.
'Nobody accepted me when I was a boy, but now people ask me to bless them.'
The government plans to bring down its stake to 26 per cent in these two banks, which are yet to be identified. This may not come in the way of getting investors for these banks, provided the government is willing to step back rather than run them the way it had been doing for over five decades since these banks were nationalised, points out Tamal Bandyopadhyay.
'I used to think I'll become a big heroine by 21-22, then I'll make a big, successful movie and then I would buy a house.' 'But when this was not happening for me, it was heartbreaking.'
Indians remitted close to $2 billion in November under the Reserve Bank of India's (RBI's) liberalised remittance scheme (LRS), latest data released by the central bank showed. Outward remittances under the scheme jumped 29 per cent to $1.99 billion compared to $1.54 billion in the year-ago month. Sequentially, outward remittances under the scheme were up about 3.5 per cent.
The banking regulator was uncomfortable with the runaway pace at which consumer credit was growing.
Punjab National Bank has the largest share.
Despite a significant improvement in asset quality, the country's banking industry might see its bad assets inching up in the months ahead, particularly in retail segment, global rating agency Fitch said.Rising bad loan assets had prompted many banks to sell their sticky assets to asset reconstruction companies, in order to transfer the risk and clean up their balance sheets.
The septuagenarian, who turned teary-eyed, submitted that he misses his wife Anita very badly and said she is in the advanced stage of cancer, according to court records.
'During times of adversity, a brick becomes better than a stone. That is how I look at the election season.'
Your promise to protect bankers for their commercial decisions is a huge confidence booster, but how does one define a commercial decision? Are our investigative agencies well equipped to dissect lending decisions of bankers?
How much will the banks' bad assets grow in March? It could be anywhere between Rs 1.2 trillion and Rs 2 trillion, observes Tamal Bandyopadhyay.
When a strong executive decides it wants something, even something that is dangerous and unconstitutional, there is little resistance from within to stop it, notes Aakar Patel.
Having issued over 21 lakh cards since lifting of curbs last year, the country's largest private sector lender HDFC Bank is planning to launch a slew of digital initiatives over the next few quarters, a top official said. The Reserve Bank had barred HDFC Bank from issuing new credit cards following incidents of outages in the lender's internet banking /mobile banking/ payment utilities over the previous two years. The curbs were partially lifted after eight months in August last year. Finally, in March 2022, the RBI lifted all restrictions placed on the bank, including digital launches.
At the heart of Paytm's slide lies the abject failure of its Super App strategy, notes Indrajit Gupta.
If there is any actor who emerges from this wreck with his talent unscathed, it is Vijay Raaz, observes Deepa Gahlot.
The correlation between withdrawal of deposits and the Covid death rate is stark, reveals Tamal Bandyopadhyay.
While a DFI will help banks derisk their loan portfolios, creation of a bad bank will clean up their balance sheets.
Where do Vijay and his TVK expect to get their votes from? Vijay has a huge fan following among women, but will they automatically become his voters like they had done for MGR's AIADMK, asks N Sathiya Moorthy.
For now, the concerns over bad loans have taken a back seat; a bigger challenge for the banking community is credit growth, explains Tamal Bandyopadhyay.
One smells a rat when cases are settled for too small a price offered either by the highest bidder or the promoter -- within and outside the legal ambit of insolvency process, observes Tamal Bandyopadhyay.
Government unlikely to bring in an ordinance to address the developments arising out of the Supreme Court order.
IMAGES from Day 5 of the Wimbledon Championships, at the All England Lawn Tennis and Croquet Club, London, on Friday.
Of the three major Budget announcements related to the banking sector, privatisation of PSBs is the most audacious, says Tamal Bandyopadhyay.
The incidence of corruption cases can be checked to a large extent if the suggestions already available with RBI and the government are taken seriously, says Shyamal Majumdar.
'Infusion of fresh capital, handsome growth in deposits and focus on recovery should bring Yes Bank back on the growth path in the next financial year,' observes Tamal Bandyopodhyay.
Bad loans in public sector banks more than tripled.
Given that Twelve Final Days doesn't really delve into the genesis of Roger Federer, the ups and downs of his career, the assumption is that it is meant for people who are already familiar with his work, observes Deepti Patwardhan.
Gross NPAs of public and private sector banks stood at Rs 2.41 lakh crore and 26,571 crore respectively.
Bad loans of PSBs are at Rs 20 trillion. Most of it is, I sense, due to corruption and behest lending. Nobody pays a price for this charade. Not the promoters, the bankers, RBI officials, finance ministry bureaucrats or politicians, points out Debashis Basu.
Axis Bank on Thursday reported a 54 per cent jump in its standalone net profit to Rs 4,117.77 crore for the quarter ended March 2022. The country's third-largest private sector lender had posted a net profit of Rs 2,677.06 crore in the year-ago period. The total income (standalone) rose to Rs 21,999.58 crore in the January-March period of 2021-22 against Rs 19,035.12 crore in the same period of 2020-21, Axis Bank said in a regulatory filing. For the full 2021-22, the net profit nearly doubled to Rs 13,025.48 crore from Rs 6,588.50 crore in 2020-21.
'One by one we are seeing these private banks taking people's money and mismanaging it.' 'In the last 30 years, 30 private banks have collapsed.' 'Nationalise all banks so that people's money is safe.'
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