The RBI, which has no interest or mechanism to get feedback from bank customers, is unaware of this. If made aware, it remains silent, proving that it has no problem in allowing lenders to short-change its customers, says Debashis Basu.
High delivery costs, caused primarily by a fragmented supply chain, bad logistics, together with poor standards are hurting India's horticulture exports much more than trade barriers, according to a World Bank report.
However, despite the reduction, their interest rates would be about 50-100 basis points higher than those of banks
This comes at a time when competition has increased significantly.
The earnings of India Inc hit a record high in the 2022-23 (FY23) January-March quarter (fourth quarter, or Q4), compared with their poor showing in the previous two quarters of the financial year. The rise in earnings, however, is exclusively led by banking, financial services, and insurance (BFSI) companies. A better-than-expected showing by banks and non-bank lenders in Q4FY23 more than compensated for the earnings contraction in the non-BFSI space.
The loss to policyholders due to massive mis-selling of insurance policies by trusted private sector and public sector banks will be well in excess of Rs 2 trillion, warns Harsh Roongta.
Axis Bank dismisses 24 staffers, suspends 50 accounts after I-T raids
'If you ask India's finest business leaders, they now tell you -- in whispers, of course -- that the mood has never been so glum after 1991,' says Shekhar Gupta.
It has Rs 20,500 crore of standard stressed pool outstanding as of June 2018. Thus, the entire stressed book (net NPAs and standard stressed pool) is nearly two times its net worth.
Housing loan customers may have to repay part of their borrowings or suffer very high EMIs, as there is a scurry among banks to avoid bad debts following successive interest rate hikes in the last six months.
Only NIIF has stayed the course as a viable infrastructure financing institution.
According to officials, the Ganga was flowing at 463.20 metres following which water filled up in Sangam Ghat, Ramkund, Dhaneshwar Ghat and Fuladi Ghat. There was also a tremendous jump in the water level of the Ganga after 2,000-3,000 cusecs of water was released from the dam of the GVK hydroelectric project built on the Alaknanda river.
Without naming either the alleged kingpin of the fraud, billionaire jeweller Nirav Modi, or Punjab National Bank, Jaitley questioned the ethics of some businesses in the country and asked as to why the bank's internal and external auditors could not detect the fraud which had been going on for 7 long years.
With their weak metrics and high bad loans, India's state-run banks have not been investor favourites
New Development Bank plans to issue $300-500 mn worth masala bonds in rupee: K V Kamath.
The sudden harsh ouster of Thomas Patrick as Merrill Lynch's executive vice chairman, may spell bad news for India-born Arshad Zakaria, who is head of institutional banking at Merrill, said the New York Times in a report.
The PM blamed the UPA regime for the problems in the banking sector.
Nothing has ever been done to make bank officers accountable, except for the rare actions when there is a public controversy, argues Debashis Basu.
Sectorally, telecom, realty, auto and banks were among the top losers, shedding as much as 2.22 per cent.
These together account for 40 per cent of bad loans of around Rs 4 trillion.
Banks are in need of government support to manage the stressed assets
Its total income during the September quarter also slipped to Rs 30,191 crore, as against Rs 32,435 crore in the year-ago period
There will be a lot to repair and rejuvenate -- if that opportunity even presents itself, warns Rathin Roy.
The cause of the explosion could not be known immediately, but local residents suspected chemicals illegally stored inside the building, mostly used as an office and business complex, might have sparked the blast.
12 out of 21 public sector banks reported declines in their loan books in the last financial year against seven such banks in 2015-16 and none in 2013-14.
When traders got caught fiddling Libor, their employers blamed a few bad apples.
If a holiday, banks will have to report the details on the next working day.
Bad loans are turning nightmarish for Indian banks.
'Modi wants to reverse everything Nehru did, but is shy of touching his daughter's most unwise policies.' 'There is no example of this more stark than bank nationalisation,' says Shekhar Gupta.
'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.'
Rs 2.06 trillion, is the gross non-performing assets of Indian banks.
The choice clearly is between prompt corrective action and slow but sure destruction, says Tamal Bandyopadhyay.
Hindenburg Research has alleged that Adani Group was "engaged in a brazen stock manipulation and accounting fraud", a charge the conglomerate described as malicious, unsubstantiated, one-sided, and having done with malafide intention to ruin its share-sale.
'I find the RBI edict to the Kotak Mahindra Bank to reduce Uday Kotak's shareholding very unreasonable,' says Sudhir Bisht.
Apart from easing the NPA pressure on domestic banks, the RBI's move can allow companies to raise cheap, long-term loans easily now.
Religion matters. Aspirational India is still poor. India admires strong leaders. India values decency. Shreekant Sambrani highlights the reasons why the BJP pulled off improbable victories in the Hindi heartland.
Ajit Balakrishnan on understanding the anti-cash chorus.
'The day-to-day control of banks is in the hands of political bosses and bureaucrats who are not answerable.' 'The political system uses the banks as a helicopter to throw money to the sector they want to patronise in order to win the next election.'
The bank saw loans worth Rs 7,000 crore (Rs 70 billion) slipping into NPAs during the March quarter, taking the gross NPA ratio to 5.82 per cent.
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