Mukesh Ambani remains the country's wealthiest promoter as his stake in Reliance is now worth Rs 3.25 trillion!
The haircut for major banks stands at 52 per cent, if the dues of Jaypee Infrastructure, Lanco Infrastructure and Era Infrastructure are kept out of the calculation.
'While we note the very strong cyclical recovery in the economy, we believe there is still uncertainty over medium-term prospects.'
A giant effigy of embattled FIFA president Sepp Blatter will be set alight as part of the Bonfire Night celebrations of a small English town.
In the case of Iran, the lifting of sanctions has paved the way for direct relations.
Unless RBI temporarily relaxes the norms on recognising of bad loans, the pressure on this front could rise in the December quarter.
Anup Roy and Krishna Kant on the challenges the public sector banks face in revitalising themselves
Sharma to step down as Axis Bank chief on December 31.
State Bank of India and IDBI Bank have decided not to go to the IIMs this year.
Federal Reserve chairman Ben Bernanke touched off the biggest one-day rally in US stocks this month by hinting that the Central Bank is almost done with raising interest rates. The indices had their biggest rise since June 29.
While some states like Kerala and Telangana were badly hit by the strike, the impact was partial in Punjab, Haryana and Maharashtra
Dy Governor notes it's an era of job changes for better.
The association also wondered how the brand value of Kingfisher was considered as a collateral while sanctioning a loan, and alleged that even when RBI knew that this was a "deliberate default", no action was taken by the banks.
The bank's overall exposure to the 40 select accounts referred by the Reserve Bank to be resolved under bankruptcy laws is Rs 15,229 crore
'SBI is already too big. Too big to fail.' 'It already is a moral hazard. What will it do with 20,000 branches that it cannot do with 14,000, especially in these days of online and mobile banking?'
'Keeravaaniji doesn't work in isolation.' 'He responds to stories, situations and the emotional core of a film.' 'That's why his tunes are so different.' 'Unchiseled emotional masterpieces.'
The brokerage said the consolidated fiscal deficit, including that of the Union (3.6 per cent), the states (2.6 per cent) and the off-budget borrowings which are being resorted to increasingly is a worry.
The unions have called for a strike against proposed closure of associate banks and their merger with the State Bank of India
The combined market capitalisation of the 21 listed PSU banks declined by about Rs 76,000 crore to Rs 425,800 crore during the month.
Replying to a question on charges of money laundering by certain employees of three private sector banks, Chidambaram said the RBI and the Finance Ministry are looking into the issue.
They need to have 15 years of mainstream banking experience
In the same quarter a year before, most of them had reported a dismal performance.
Merely bringing down the government stake below 51% may not find any taker for the PSBs. The government must bring down its holding to at least 26%, recommends Tamal Bandyopadhyay.
'80% of the rural and urban population don't have enough purchasing power.'
Companies that loaded up on debt when India was being hailed as the world's second-fastest-growing economy are now deleveraging to clean up their balance sheets.
Jaitley said there was a need for the banking sector to fund infrastructure and manufacturing sectors to support the ambitions of higher growth.
Bankruptcy Code will consolidate existing laws related to liquidation and sick industries
According to a government reply in Lok Sabha, as on June 30, 2017, there were about 109,598 cases pending across debts recovery tribunals, with recovery dues of Rs 635,500 crore.
Note ban hits sales and registration of new cars; states work online payments model to deal with cash crunch. Ajay Modi and T E Narasimhan report.
The Arun Jaitley-led finance ministry reiterated banks should act tough on wilful defaulters.
The move will have cascading effects for lot of related sectors
To further strengthen the supervision on non-banking entities (NBFCs), the Reserve Bank on Tuesday issued revised guidelines on a Prompt Corrective Action (PCA) framework for such companies, excluding government-owned ones, effective from October 1, 2022, on the lines of what it had introduced for banks in 2002. The RBI came up with stricter supervisory norms under the PCA framework for banks after their bad loans mounted and balance-sheets bled badly. This involved restricting them from fresh lending, brand opening and, hiring, among others. The RBI said the revised PCA framework is also applicable to all deposit-taking non-banking financial companies (NBFCs), all non-deposit taking NBFCs in the middle, upper and top layers, including investment and credit companies, core investment companies, infrastructure debt funds, infrastructure finance companies and microfinance institutions.
Amid a rise in non-performing assets, most public sector banks have seen a substantial drop in their provision coverage ratio in the year since the reserve Bank of India (RBI) withdrew the 70 per cent provision coverage ratio norm.
The gross non-performing assets of public sector banks rose to 6.03% at the end of June.
Monetary transmission has been an issue for the Indian banking sector.
A bench headed by Chief Justice T S Thakur also sought a response on the question as to whether the recovery tribunals are equipped to decide the loan recovery cases within a fixed time frame, stipulated under the law.
Sweeping reforms mooted; feedback open till Aug 27.
Loan defaults and restructuring to limit profits.
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