Though encouraged by the turn of events in just a few months of having taken over the reins of the United States, Obama, however, cautioned his fellow citizens that not all of the bailouts is going to be that sweet.
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.
A year ago, Greece's bankers thought they were on the cusp of a new era.
Banks completed a full circle in 2008, as famed lenders from New York to Tokyo turned beggars who lined up for bailouts from their respective governments.
It is time for India to raise its voice not just through military prowess, but through professionalism, principled voting and partnerships, asserts Deepak Mishra.
The International Monetary Fund (IMF) has slapped 11 new conditions on Pakistan for the release of the next tranche of its bailout programme and warned that tensions with India could heighten risks to the scheme's fiscal, external, and reform goals, according to a media report on Sunday.
'We've moved from thousands killed yearly in Jammu and Kashmir to 127 last year.' 'Cross-border terrorism in Kashmir is being solved. We are winning it.'
With this the federal exchequer has so far received a total of $116 billion of its bailout money.
The battered entity had received taxpayers money to the tune of $25 billion in October 2008 and another $20 billion during the time of Bank of America's takeover by Merrill Lynch earlier this year.
For the banking system a new cycle starts in FY2024. It's fraught with fresh challenges on asset quality and profitability, warns Tamal Bandyopadhyay.
Shares of Yes Bank may face selling pressure as the Reserve Bank-mandated three-year lock-in period for individual investors and exchange-traded funds is ending on Monday, according to analysts. The analysts expect distress on the bank counter on Monday as they expect investors, primarily the nine banks led by State Bank, which picked up almost 49 per cent of its stocks in March 2020 for Rs 10 per share -- at a premium of Rs 8 on the face value as part of the RBI bailout, making an exit. Exchange-traded funds are also likely to press the exit button.
It's hoped the negotiations can be wrapped up by August 20.
The Bank of America has proposed to repay part of the US government bailout money, while the US is pressing the bank to pay at least $500 million to defer a tentative agreement that would have the government share its losses on certain assets, says a media report.
Formal negotiations are due to start in Athens on Friday.
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The move draws a line under the Swiss government's rescue of UBS nearly five years after the bank threatened to collapse under the weight of more than $50 billion in losses on mortgage securities.
Greece awoke with a political hangover on Thursday after parliament approved a stringent bailout programme, thanks to the votes of the pro-European opposition, amid the worst protest violence this year.
The agreement is subject to approval by the IMF management and consideration by its executive board, which is expected in early April.
Energy Minister Panagiotis Lafazanis and Deputy Labour Minister Dimitris Stratoulis also voted against the package.
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
EU authorities made a last-minute offer to salvage a bailout deal that could keep Greece in the euro as the clock ticked down on Tuesday, with Germany warning that time had run out to extend vital credit lines to Athens.
Goldman Sachs and American Express played a large role in boosting the US Treasury's coffers by agreeing to pay a favourable price for the warrants received in return for the aid, the Financial Times said citing a study by the consultancy SNL Financial.
Greek Finance Minister Yanis Varoufakis announced his resignation on Monday, a day after Greeks delivered a resounding 'No' to the conditions of a rescue package.
US Senate on Wednesday passed the $700 billion financial bailout package by a wide margin of 74-25 votes.
The legislation passed with 230 votes in the 300-seat chamber.
Capital Goods shares ended mixed on the back of weak IIP numbers. L&T ended down 0.7% while BHEL ended with marginal gains.
An International Monetary Fund study published on Tuesday showed that Greece needs far more debt relief than European governments have been willing to contemplate so far, as fractious parties in Athens prepared to vote on a sweeping austerity package demanded by their lenders.
The mission to secure a six billion pound ($10.18 billion) bailout package is led by Shaukat Tareen, Pakistan Prime Minister's Finance Adviser and Shamshad Akhtar, the Governor of Pakistan's central bank, Daily Telegraph reported. Oil-rich Gulf states have also been tapped to match Western funds with extra billions to ensure that Pakistan, which until recently touted itself as the 'next Asian Tiger', avoids a balance of payments crisis, the report said.
The proposals appeared so far apart that success seemed higly unlikely
Cash-strapped Pakistan on Tuesday moved closer to securing a massive $11 billion economic bailout package from international donor agencies including the IMF, to revive the ailing national economy.
Battling financial crisis, Kingfisher Airlines Chairman Vijay Mallya on Tuesday said he has not asked for a bailout from the government but wants the lenders to help with Rs 700-800 crore (Rs 7-8 billion) working capital as short-term need and interest concessions.
Foreign brokerages said if SBI decide to buy stake in the bank, they should buy it at Rs 1 per share as the net worth is hugely impaired.
The Citigroup may cut a deal with the US government on Monday that will allow it to repay the bailout fund the financial entity had received at the height of the global financial crisis, says a report.
Athens bowed to demands to phase out tax breaks for its islands.
The regulatory actions, undertaken by the RBI and the government, came hours after finance ministry sources confirmed that SBI was directed to bail out the troubled lender. For the next month, Yes Bank will led by the RBI-appointed administrator Prashant Kumar, an ex-chief financial officer of SBI.
Ordinary folk, every newspaper and TV channel in the country, Congressmen (including the ones who were screaming for bank bailouts during 2008) and even people on the Wall Street (what an irony!) are furious that AIG should be paying some of its executives handsome bonuses while on the dole. The details of the AIG bailout that have been made public, reluctantly, by the government focus the spotlight more clearly on the faults of the system as a whole.
Positive cues from the global market front aided the rally.
The financial sector has been deeply troubled since 2013. It is now in a full-blown crisis, warns Devangshu Datta.
Since March 31, 2022, the PSBs' market cap has risen 43.7 per cent, from Rs. 7.29 trillion to Rs. 10.47 trillion. It's time for the government, the majority owner of public sector banks, to reap the benefit of the rally in bank stocks, recommends Tamal Bandyopadhyay.
Athens has pushed two reform packages through parliament
A second vote will be held on Wednesday, on measures including justice and banking reforms, when a similar outcome is expected.
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