The prime minister made the charge at a rally in Ajmer just ahead of the announcement of assembly election dates for Rajasthan and four other states in November and December.
This brand of funny by the virtue of I-know-I-cracked-a-bad-joke doesn't quite tickle, says Sukanya Verma.
Capital infusion seen necessary for banks to maintain regulatory norms at the time of paying interest towards AT-1 bonds
The country's largest lender State Bank of India (SBI) on Wednesday reported a 69 per cent jump in its consolidated net profit at Rs 8.889.84 crore for the second quarter ended September 30 on account of decline in bad loans. The bank's net profit was Rs 5,245.88 crore in the July-September quarter of previous fiscal, SBI said in a regulatory filing.
With many getting payment reminders, confusion prevails among borrowers, term-plan investors and credit cardholders over the implementation of the three-month moratorium on all loan repayments amid disruptions caused by the coronavirus outbreak. As part of measures to alleviate hardships faced by people, the Reserve Bank of India, on March 27, announced a slew of steps, including a three-month moratorium on loan repayments.
The remarks came amid reports of mounting tension between the finance ministry and the RBI over the autonomy of monetary policy makers.
'She was either overconfident that nothing will happen to her or she underestimated the gravity of the allegations.'
From zeroing in on the best means for stake dilution to moving beyond microfinance, Bandhan navigates a tough path. Namrata Acharya reports.
With strong long-term fundamentals, banking sector cannot be completely ignored
The Reserve Bank of India (RBI) raised the minimum capital requirement for so-called shadow banks and tightened rules on deposits and bad loans to avoid any potential risk to the economy from these rapidly growing finance firms by regulating them like traditional banks.
The NPA of the public sector banks rose to 6.03% as of June 2015.
'These are only passing clouds. The banking industry is a century-old industry and this is not the first time it is going through such a crisis.' 'When the economy revives, those companies that are in the infrastructure fields will also get revived.' 'After all, a lot of money has gone into creating assets like power projects and roads, so you can't say money has been wasted.'
The Serious Fraud Investigation Office is under the administrative control of the Corporate Affairs Ministry, and is being readied to become an investigation body at par with the Central Bureau of Investigation and the Enforcement Directorate.
The Constitution bench is hearing a batch of 58 petitions challenging the demonetisation exercise.
Bankers pay a small price for their misdeeds, no matter how large the cost to their banks or to the economy at large, says TT Ram Mohan.
Two of the highest-profile recent cases of alleged wilful default involve Winsome Diamonds and Jewellery and Deccan Chronicle Holdings
Without bringing sound governance and technical capabilities into the RBI's work, injecting new money sets the stage for a next wave of bad behaviour by banks, warns Ajay Shah.
Vijaya Bank assured employees that the service conditions 'will remain unaffected and staff benefits retained'
The buyout will cost LIC about Rs 100 billion, based on the Rs 248 billion market capitalisation of IDBI Bank as on Friday, and assuming it acquires a 40 per cent equity stake from the government.
Public sector banks (PSBs) have written off a massive Rs 8 trillion of loans in the seven years of the Narendra Modi government in office. This is more than twice the capital infused by the Bharatiya Janata Party-led government during the period. Between 2014-15 and 2020-21 (FY21), the Centre had infused Rs 3.37 trillion into PSBs. At Rs 1.06 trillion, FY19 saw the highest capital infusion.
In a proposal to FinMin, the Banks Board Bureau suggests asset sales to PSUs within a deadline to recover bad loans.
Arcil acquires non-performing loans from banks and financial institutions along with the underlying securities mortgaged or hypothecated by borrowers to the lenders.
The most preferred CoCo bonds are those through which banks raise their additional Tier-I capital.
Banks recovered Rs 18,933 crore (Rs 189.33 billion) worth of bad loans during the April-December period.
For the baning sector, 2018 was a 'Year of Exits' - borrowers fled from the country as loans went kaput and many bank CEOs were forced to leave
North East were 65 for 2, 475 runs in arrears, when bad light and rain forced an early closure to their first dig on Thursday.
Discussion paper fixes Rs 1,000 cr as minimum capital for these specialised banks
Invest 5 to 10 per cent in a banking sector fund. Ensure that mutual fund's portfolio includes all three players -- private sector banks, public sector banks and NBFCs.
Banks may also rate students every year and fix interest rates according to the ratings.
With credit growth remaining high despite deterioration in the economic environment, the Reserve Bank of India (RBI) on Wednesday asked banks to initiate measures to keep the fresh accretion of bad debt to the minimum and also improve the recovery process.
In another development, SBI Capital Markets, which had issued the expressions of interest on April 8, extended the deadline for submission of initial bids to April 12.
Generally, the central bank grants its approval by mid-March, or latest by March 31, but most banks have not received RBI approval on bonus packages this year.
A long crisis with a lack of sound short-term, long-term actions can result in sluggish growth in India, similar to that in Japan.
Analysts, however, said the timing of the infusion was good.
Some leading private and foreign banks in the country have started checking scores of credit information companies such as Credit Information Bureau Ltd as part of their pre-employment screening process.
'Banks, fund managers, NBFCs, rating agencies, those buying into debt funds -- all of them will have to watch their step as India's financial system enters a new phase,' warns T N Ninan.
Demands include 5-day banking, PF to be calculated on total salary and allowances, not only on basic
The bank, which has suffered reverses following a massive spike in dud assets and also the dismissal of its chief executive Chanda Kochhar over governance issues, however, hinted that the worse is behind.
The speed at which he led the central bank in different areas -- ranging from internal reorganisation to inflation fighting, stabilising the currency, taking on rogue corporations, cleaning up bank balance sheets, and opening the sector -- makes one believe that Rajan knew he had only three years to do his job. A fascinating excerpt from Tamal Bandyopadhyay's MUST-READ Roller Coaster: An Affair with Banking.
"The fundamental credit outlook for the Indian banking system remains negative, reflecting the currently challenging economic conditions and the rising level of problem loans," Moody's said in a report.
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