Kapoor and his associate entities owned 10.6 per cent in the bank at the end of June 2019.
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.
'This award is funded by American money so I took this decision.'
As per the RBI directions to PMC Bank, withdrawals have been capped at Rs 1,000 per account and the bank is not allowed to make any fresh loans.
The government is set to earn an equity dividend of nearly Rs 13,800 crore from the listed public-sector banks (PSBs), all 12 of them, for FY23, up 50 per cent from Rs 9,210 crore in FY22. This will be the highest ever dividend for the government from PSBs. The 12 PSBs in our sample are paying an equity dividend of nearly Rs 21,000 crore for FY23, up 53 per cent from Rs 13,710 crore for FY22.
What connects P S Jayakumar of Bank of Baroda, V Vaidyanathan of Capital First Ltd and Chandra Shekhar Ghosh of Bandhan?
'Nobody expected the slowdown to go for these many days. Unfortunately, it is an unbelievably bad slow down.'
The strike call is over privatisation, mergers, and also due to write-off of corporate NPAs, criminalisation of willful default
The Governor had submitted his report to the Public Accounts Committee and put the blame on 'overall economic downturn'
'In Eastern Ladakh the Chinese attempted salami slicing.' 'Our response has been superb. Our military has responded magnificently.'
Mutual funds (MFs) are betting on a turnaround in the healthcare sector to boost returns but are divided on the prospects of the information technology (IT) sector amid uncertain growth outlook. At the end of June, all of the top 20 fund houses were overweight on the healthcare sector vis--vis the sector's presence in the BSE 200 index, shows a report by Motilal Oswal Financial Services (MOFS). In the case of the IT sector, only six of the 20 fund houses had overweight positions.
Collectively, the pack of 12 has posted a 50 per cent rise in profits -- Rs 25,685 crore. On a quarter-on-quarter basis (that is, September over June), the rise is 68 per cent. Public sector banks have never had such a stellar performance, explains Tamal Bandyopadhyay.
A bad Cibil credit score can limit your borrowing options; however there are few other options which you can explore for credit.
If the entire amount of Rs 24,000 crore is raised, then it would be the biggest fundraising exercise by any Indian company ever.
SBI has announced an investment of Rs 7,250 crore in Yes Bank through the acquisition of 725 crore shares at Rs 10 each.
The men with guns tend to know little finance, and establishing such a conspiracy then involves leakage of information, which is also dangerous, Ajay Shah points out.
Pai said he was also against 'naming and shaming' willful defaulters of bank loans.
Non-performing loans in the Chinese banking system stood at RMB 1.27 trillion at the end of 2015.
'The India which was all about glamour and razzmatazz through which he could earn the trust of people of the other India, which was Bharat.'
DHFL has been generating funds through various means and has exited from its subsidiary units to tide over the current financial crunch.
Being careless with money is often associated with bad financial habits. If you are not aware of what these bad habits are, here is a list that could well serve as a caution.
Banks to get more aggressive and act like PE investors
About 50 per cent of the accounts that availed of the EMI moratorium amid the pandemic, which made things worse in an already slowing economy, are expected to be restructured, and of these accounts that would undergo restructuring, one-third, or Rs 6-9 trillion, could turn into NPAs.
'The tragedy with Indian Muslims is that they do politics from the heart, not from the head.'
While 'staycation' means a holiday spent at home due to straitened financial circumstances, 'brickor mortis' is a period of difficult times in the housing industry, and 'bad bank' refers to a state-owned financial institution created to alleviate a financial crisis. As well as the economic downturn, the trend in social networking has also been recognised.
About 1 million bank officers are expected to participate in the strike on May 30 and May 31
Bad loans, however, continued to rise in the micro, small and medium enterprises category
The improved outlook on the Government of India announced by rating agency Moody's might need to be viewed with some scepticism. There is no doubt the performance of the Indian economy has sharply improved from the deep trough it hit last year. But the ability of the second largest global ratings agency to assess an upside and downside before events make everyone wise about India has been dismal for a long time, as the chart shows.
'The biggest risk to the Indian markets from a 12-18-month view is that the current government does not get re-elected, or loses in a way that is not represented at all in the next central government.'
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.
'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.
Monsoon delay? Claiming compensation from an airline isn't easy.
Public sector banks' need for capital should be used to make fundamental reforms to their governance and management.
Outward remittances in February under the Reserve Bank of India's (RBI's) liberalised remittance scheme (LRS) fell 23 per cent over January, latest data released by the central bank, in its monthly bulletin, revealed. In February, Indians remitted $2.1 billion under the RBI's liberalised scheme. On a year-on-year (YoY) basis - aided by international travel - LRS jumped 15.24 per cent. Further, in April 2022-February 2023, outward remittances under LRS stood at $24.18 billion, an all-time high.
While India won't be immune to global spillovers, we need to create the macro preconditions for sustained growth. Policy agility, prudence, and resilience will be key, suggests Sonal Varma.
The Income Tax department has suggested an amendment for taxation of bad debt to the Central Board of Direct Taxes
Banks make use of credit scores based on your credit history and repayment record.
Soma Ravi, an Indian caregiver in Ramat Gan, recounts the last 4 days in Israel and says the Indian embassy has been in constant touch.
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