Former chief minister of West Bengal and Communist Party of India-Marxist patriarch Jyoti Basu continued to remain in a critical condition on Monday with doctors attending on him saying that lack of any improvement in his health was 'not a good sign.'
The origin of the challenge is the so-called "fresh start" process. Many in the MFI industry apprehend that such a law in India will encourage small unsecured borrowers to default and destroy the credit culture. So, while'Fresh start' is a welcome step as it will free up the debtors from the archaic laws of the colonial era, debtors need handholding and counselling to prevent any misuse, says Tamal Bandyopadhyay.
Anil Ambani Group firm Reliance Money on Monday said it is undertaking a performance monitoring exercise for its staff which could result in separation of about 300 employees due to their under-performance.
The BJP could win only 16 out of 57 seats where Shah campaigned.
Woefully inadequate infrastructure is just one of the many reasons why a case is not settled within 180 days and even 270 days as envisaged by the law, says Tamal Bandyopadhyay.
The evolving RBI-government relationship, a reversal in the interest rate cycle and return to profitability will dominate bankers' conversation this year, says Tamal Bandyopadhyay.
The TDP snapped its ties with the BJP alleging neglect of the southern state and failure of the Centre to grant special category state status to Andhra Pradesh.
'In their over-enthusiasm to clean up the system, both the banks and the regulator should not forget that the key to the insolvency law is revival of companies -- recovery of bank dues is an offshoot of that,' points out Tamal Bandyopadhyay.
If indeed we want the board to manage the RBI, probably the government should take a close look at the US Federal Reserve system which has a two-part structure - a central authority in Washington, DC, and a decentralised network of 12 Federal Reserve Banks located throughout the country, says Tamal Bandyopadhyay.
Spare the serious entrepreneurs but don't allow the rogues to use the shield of secrecy, writes Tamal Spare the serious entrepreneurs but don't allow the rogues to use the shield of secrecy, says Tamal Bandyopadhyay.
It was widely expected that this time around, the government would be less likely to initiate fresh reforms and rather loosen its belt a little to give various segments of the economy, especially the multitudes that truly constitute India, something to smile about, says Sudip Bandyopadhyay.
There is a dearth of talent in the Indian banking industry. A testimony to this is the two new CEOs in the private sector -- Sandeep Bakhshi in ICICI Bank Ltd and Amitabh Chaudhry in AXIS Bank Ltd -- have come from the insurance sector, says Tamal Bandyopadhyay.
The value-added feature would provide additional revenue stream for the company and it expects about 10-20 per cent of its two million customers to use this facility. The technical services are available for a free introductory 7-day trail period to the existing users. Thereafter, this service is available to users at a nominal subscription of Rs 99 for 3 months and for one year subscription, the fee would be Rs 299.
The RBI wants to include shares and options within the variable salary of the CEOs, proposed to be capped at 200 per cent of their fixed salary; the floor for it is 50 per cent.
With real estate valuations falling and other deals coming unstuck, the current management's improved target faces significant challenges.
Anil Ambani Group's Reliance Money today signed an agreement with Tata group's IT arm CMC Ltd for setting up financial retail kiosks, besides training students of the software solutions provider in finance.
Most of the NBFCs do not take public deposits but that does not mean they cannot create systemic risks. The banking system has at least Rs 57,000 crore exposure to IL&FS. Haven't the banks invested public money in IL&FS papers, asks Tamal Bandyopadhyay.
The assurance came hours after the Centre accused the Mamata Banerjee-led West Bengal government of obstructing a central team deputed to assess the coronavirus ground situation.
While IDBI Bank's 140 million customers and 1800-odd branches will come in handy for LIC to hawk insurance, the bank can use LIC's massive agent network to sell its retail loans. But if it is run the same way it had been in the past and LIC is a proxy of the government, then it has no future, says Tamal Bandyopadhyay.
Anil Ambani Group firm Reliance Money on Friday announced its foray into Europe by setting up operations in Ireland and the UK and is looking to tap over two million non-resident Indian population in the region.
Banking is a boring business but still the banker should enjoy it as fancy awards and cozy relationships with politicians, Bollywood stars and corporate honchos cannot save them if the job is not done properly. In the concluding part of the series Tamal Bandyopadhyay wonders how long Kochhar would need to wait for her redemption or downfall and atonement.
In a candid interview, 74-year-old Soumitra Chatterjee spoke about his tryst with the National Award, a partisan jury, film industry, his aspirations and regrets.
In the first of a two-part series, Tamal Bandyopadhyay explains why the ICICI Bank's board first rushed to deny all allegations against Kochhar and then took the extreme steps against her.
The department of telecommunication is expecting defence ministry to soon vacate the spectrum for mobile services, including 3G, as discussions with the armed forces are in final stages, a senior ministry official said on Wednesday.
Direct investors should stagger their investments over 1-2 months.
Two persons, including a child, died and another person was injured in a bomb blast at Mahabbatpur village near India-Bangladesh border, the police said on Wednesday.
The move is being seen as an attempt to forge opposition unity to defeat the BJP-led National Democratic Alliance.
Aditya K Poddar, chairman of Wellside International Pte Ltd, handed over a cheque for $100,000 to India's Acting High Commissioner Asoke Mukherji at India House in London.
What connects P S Jayakumar of Bank of Baroda, V Vaidyanathan of Capital First Ltd and Chandra Shekhar Ghosh of Bandhan?
Is the RBI unable to accept with grace that beyond 55, one can have the ability to head the compliance functions in a bank, asks Tamal Bandyopadhyay.
Mamata Banerjee was on Friday unanimously elected as the leader of the Trinamool Congress legislature party at its meeting in Kolkata.
Buoyed by tremendous consumer response and with banking on its huge roll-out plan, Anil Dhirubhai Ambani Group's brokerage and distribution arm Reliance Money expects to break-even by the end of the current fiscal.
Broking house Reliance Money on Thursday said it plans to expand its operations in the country by taking the number of outlets up to 10,000 by the end of this fiscal. The financial services and products distribution arm of Anil Dhirubhai Ambani Group currently has around 4,000 outlets, company's Director and CEO Sudip Bandyopadhyay told reporters.
R-Money, the Anil Ambani group's retail brokerage arm, will introduce gold coins in smaller denominations of half gram and one gram in the market. The market is currently dominated by 5-gm and 8-gm coins.
Interview with Tamal Bandyopadhyay, the author of Sahara: The Untold Story.
'Initially, Gift City was just another real estate project, but all that changed with Modi moving to New Delhi,' notes Tamal Bandyopadhyay.
If indeed the issues involved between the government and RBI are of immense public interest, why not make public the arguments of both the government and the RBI, irrespective of the outcome of the process, says Tamal Bandyopadhyay.However, the Act is silent on what happens if the governor's views differ from that of the government. If Patel does not want to budge from his stance the government can either see merit in the Governor's arguments and decide against going ahead with its plan or overrule him. My guess is that the issues raised by the government need to be sorted out not at the November 19 board meeting but between the Governor and the government, says Tamal Bandyopadhyay.
The choice clearly is between prompt corrective action and slow but sure destruction, says Tamal Bandyopadhyay.
'There are deeper, underlying, forces at work and we need institutional arrangements to guard against them.'
