But selectively, with regulatory scrutiny and special approval, points out Tamal Bandyopadhyay.
Yes, the entry of private bankers, particularly with global experience will add value to PSBs, points out Tamal Bandyopadhyay.
The drama unfolded after Majumdar, a Union minister of state, defied police restrictions and rode a motorbike to Bhabanipur to observe 'Paschimbanga Dibas' (West Bengal Day).
As deposit growth lags credit expansion, Indian banks face shrinking low-cost Casa inflows, rising funding costs, and structural shifts driven by UPI, e-Kuber, and digital savings trends, points out Tamal Bandyopadhyay.
While participants in the domestic financial market are expecting a 25 basis-point policy repo rate cut in the December meeting of the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI), economists remain torn between a reduction in rate cut and a pause.
'Corporates now have multiple funding sources beyond banks, and many are sitting on large cash reserves.'
CPGRAMS -- an online platform available to citizens 24x7 to lodge their grievances to public authorities on service delivery -- has existed for close to two decades. But it has never been this active, points out Tamal Bandyopadhyay.
'When the BJP wanted the election to focus on 'ghuspathiya' and promises that look like pies in the sky, we forced them to talk about jobs, giving free 125 units of power, and addressing women's indebtedness.'
Opening up the corner office is fine, but will the government be able to attract talent without giving a market-rate salary?, asks Tamal Bandyopadhyay.
Those who know Alapan Bandyopadhyay describe him as measured, tactical and extremely focused on achieving what he sets out to do. To many it came as a surprise that he would cut short a meeting with the prime minister.
For the time being, the RBI is done with the cuts. A cut in October, which many are still predicting, is not certain. Of course, if growth nosedives, the script will be different, expects Tamal Bandyopadhyay.
While the economy will wait for a rate cut in December, the banking industry should be happy with the wave of liberalisation -- a big push for growth in bank credit, points out Tamal Bandyopadhyay.
The poll is witnessing a direct contest between ruling NDA nominee C P Radhakrishnan and joint opposition candidate B Sudershan Reddy, with the BJP-led alliance having a clear edge in the poll necessitated due to the sudden resignation of Jagdeep Dhankhar.
Given that a sizeable part of this money is part of the coveted current accounts and savings accounts, it is surprising that banks are not in a hurry to revive these accounts, notes Tamal Bandyopdhyay.
The Centre has initiated 'major penalty proceedings' against former West Bengal Chief Secretary Alapan Bandyopadhyay, amid a tug-of-war between the Union government and the Mamata Banerjee dispensation over him, which may deprive him of post-retirement benefits, partially or fully.
UPI has catapulted India into the forefront on the global digital payments landscape. Working hand in hand, the AePS payments system is making life easy for rural folks, notes Tamal Bandyopadhyay.
West Bengal Chief Minister Mamata Banerjee on Wednesday asserted that her administration will stand by Alapan Bandyopadhyay in the tussle with the central government which has seen the former chief secretary of the state being recalled to Delhi and later served a notice by the Union Home Ministry for allegedly violating the Disaster Management Act, by not attending a meeting called by the prime minister.
Seventy years after Pather Panchali released on August 26, 1955, we finally get it. Shuttling between the village of Boral and a studio in Calcutta, caught between worrying about the next purse of funds and wondering which item to mortgage next, Satyajit Ray was explaining Indians to themselves, discovers Sreehari Nair.
In the past 10 years, over 500 PSB officers have died by suicide. When targets are overwhelming, senior management and customers are both impatient, and there is constant fear, not every banker has the resilience to survive and thrive, warns Tamal Bandyopadhyay.
Doctors found scratch marks on the body of Monojit Mishra, the arrested prime accused in the gang rape of a student at a Kolkata law college, a well-placed police source said on Tuesday.
Advocate Raju Ganguly, who appeared for Mishra in court, maintained that the suspect did not perpetrate any torture on the victim and referred to the presence of "love bites" on his client's body in support of his claim.
'Vigilance' is a dreaded term for PSB employees and there are instances where this fear is misused by the higher authorities to tame their subordinate officials. This fear always deters PSB executives from making decisions -- the fewer the decisions, the less the chance of falling into trouble, points out Tamal Bandyopadhyay.
'We are totally in favour of the country on matters of external affairs. Naming representatives for diplomatic multi-party delegations to counter Pak-backed terrorism is the choice of parties, not of the Centre'
The Indian government briefed an all-party meeting on Thursday on the success of "Operation Sindoor", the retaliatory airstrikes against Pakistan following the Pahalgam terror attack. Top government functionaries and opposition leaders met for a second time in a fortnight amid rising tensions between India and Pakistan. The meeting was chaired by Union Home Minister Rajnath Singh and attended by several prominent leaders from various political parties. The government highlighted the strikes on nine terror targets in Pakistan and Pakistan-occupied Kashmir, including the Jaish-e-Mohammad stronghold of Bahawalpur and Lashkar-e-Taiba's base Muridke.
Interacting with reporters in Kolkata, the Trinamool national general secretary reiterated that his party stood with the government in matters of national interest, combating cross-border terrorism, and safeguarding sovereignty.
While a giant, it's a nimble-footed one, and is growing at a speed that even some of its private sector peers find enviable.
Between FY18 and FY24, it doubled its balance sheet. Despite being a late entrant in some segments, it has been able to grab market share, observes Tamal Bandyopadhyay.
Bandyopadhyay had approached the high court in February seeking regular bail on health grounds.
A home ministry official said the notice was served on Bandyopadhyay hours before his retirement on Monday for refusing to comply with the Central government direction, which he said constituted a violation of section 51-B of the Disaster Management Act, 2005.
Another TMC MP Tapas Pal has been sent to judicial custody after six days in CBI custody.
The diplomatic exercise aimed at presenting India's stance against Pakistan on terror comes in the wake of Operation Sindoor -- the Indian offensive against terror camps in Pakistan and Pakistan-occupied Kashmir following the April 22 terror attack in Pahalgam in which 26 people, mostly tourists, were killed.
The government will send seven all-party delegations to key partner countries, including members of the United Nations Security Council, later this month to convey India's message of zero tolerance against terrorism following the Pahalgam terror attack and Operation Sindoor.
Net NPAs increased to Rs 36,260 crore in the December quarter from Rs 34,843 crore in September and Rs 33,116 crore in December 2023, observes Tamal Bandyopadhyay.
Defence Minister Rajnath Singh told an all-party meeting that at least 100 terrorists were killed in the Indian strikes on terror sites in Pakistan and Pakistan-occupied Kashmir under 'Operation Sindoor'. Leaders from various parties showed maturity and extended all support to the government and armed forces.
In 2023-2024, 95 scheduled commercial banks received over 10 million complaints from their customers. The process of KYC at many banks has become 'HYC' -- harass your customer, points out Tamal Bandyopadhyay.
India's Parliament is set to begin its Budget session on Friday, with opposition parties poised to demand a discussion on the alleged mismanagement of the Maha Kumbh festival in Prayagraj, where 30 pilgrims died in a stampede. The opposition also accused the government of politicising parliamentary committees and pushing its agenda through its majority. The session will start with President Droupadi Murmu addressing both houses of Parliament. Finance Minister Nirmala Sitharaman will present the Union Budget on Saturday for the eighth consecutive time.
'If it doesn't, it will continue with measures to infuse liquidity, signalling a new cycle,' predicts Tamal Bandyopadhyay.
The bank made a Rs 67 crore net profit, up 21% from the previous year. Its deposits grew 8%, the loan book 10%. Net bad loans dropped from 7.53% to 6.07%. So why was the banker, who headed the bank, not promoted?
Privately, many bankers admit their immediate goal is not growth but slowing the erosion of Casa deposits, reveals Tamal Bandyopadhyay.
The number of cyberfraud cases has skyrocketed from 2,677 in 1999-2000 to 29,082 in FY24 -- more than a 10-fold increase. The RBI pegs digital payment frauds at Rs 1,457 crore in FY24, up more than five times in a year. It's not just the number of frauds. What's alarming is the growing sophistication of the fraudsters, exposing the vulnerabilities within the financial system, observes Tamal Bandyopadhyay.
