United Bank of India has already declared Kingfisher a wilful defaulter while State Bank of India, Punjab National Bank and IDBI have initiated such a move.
'This is not just the IREDA's IPO. It is the success of the ministry of new and renewable energy and of the renewable energy industry.'
West Bengal Chief Minister Mamata Banerjee's maiden visit to the financial capital Mumbai drew an enthusiastic response from India Inc with industry captains queuing up to attend the meeting called by her.
Experts interviewed CMDs of nine public sector banks on Friday and Kamath is believed to be in the reckoning
It further asked the government to make suitable arrangements for smooth functioning of the bank.
Coming out of its self-imposed shell, Union Bank of India, the fifth largest public sector bank in the country, is moving forward to opening branches overseas. The bank has over 2,000 branches across India, but no branch overseas.
State-run Central Bank of India on Thursday said Reserve Bank of India's credit policy initiative has increased pressure on interest rates.
Sebi on Tuesday restrained two Brightcom Group officials, M Suresh Kumar Reddy and Narayan Raju, from holding any managerial position in the company or its subsidiaries until further orders. Reddy is the promoter-cum-chairman and MD of Brightcom Group Ltd (BGL) while Raju is the chief financial officer. Besides, the regulator also banned Reddy from the securities market until further orders.
A panel headed by RBI Governor selects PSU bank chiefs.
In FY23, the State Bank of India (SBI) reported a 57.4 per cent jump in its net profit to Rs 55,684.17 crore. But the chairman of the country's largest bank, Dinesh Khara's annual pay for this creditable performance was just Rs 37 lakh (his peers at state-run banks are no better off). Look at his private bank rivals - most pocketed in excess of Rs 7 crore annually - plus stock options.
The Enforcement Directorate (ED) on Tuesday arrested the former CFO and internal auditor of the Cox and Kings Group in connection with its money laundering probe in the Yes Bank alleged loan default case. The agency said ex-chief financial officer Anil Khandelwal and internal auditor Naresh Jain were arrested under the provision of the Prevention of Money Laundering Act
In the first two years, we spent Rs 15,000 crore, which was more than our target, says S K Chaturvedi, CMD, Power Grid Corp.
'If 99.99 per cent of these micro borrowers are good at repaying their loans, why can't we look at the SMEs and MSMEs and replicate the same model for them with our stringent risk management system,' Chandra Shekhar Ghosh, chairman and managing director of India's newest private sector bank, tells Prasanna D Zore/Rediff.com.
Move to hasten rollout and, if successful, set a precedent for new banking firms.
The candidate will be expected to have at least two to three years of remaining service.
The state-owned Central Bank of India on Friday said it plans to open over 100 branches during the current fiscal.
Admitting that there are governance issues in the public sector banks, RBI Governor Raghuram Rajan underlined the need for improving transparency in sanction of loans.
His statement assumes significance in the light of scams in the state-owned banks.
These businessmen represent the top five firms that have taken loans from the crisis-hit Yes Bank and these debts were either in the red or were stressed, officials said.
Interest rates are set to fall again with public sector banks today agreeing to lower deposit and lending rates next month.
In August, the central bank had announced that it will set up the Reserve Bank Innovation Hub (RBIH) to promote innovation across the financial sector by leveraging on technology and creating an environment that would facilitate and foster innovation.
India is in a much better position to deal with the challenges related to growth and inflation, said Sanjiv Bajaj, president of industry body CII. According to official figures, India's retail inflation continues to remain above the Reserve Bank's tolerance level of 6 per cent since January, while the economic growth in the first quarter of the fiscal was 13.5 per cent, lower than the central bank's estimate of 16.2 per cent. "I don't want to say we don't have our own challenges with growth, with inflation but we are in a much better position and credit must go to everybody including the central and state governments.
The CBI has been carrying out searches at various locations for the past few days to locate assets acquired from the proceeds of the scam, officials said.
As many as 6,801 cases of fraud were reported by scheduled commercial banks and select financial institutions involving an amount of Rs 71,542.93 crore in the last fiscal.
The finance ministry is not only keen to split the roles of CMD, but also wants to appoint them for a fixed tenure of five years.
The Reserve Bank of India's ongoing inspection of the book of accounts of Syndicate Bank is unconnected with last week's arrest of S K Jain, its chairman and managing director.
The talk of governance reforms at public-sector banks seems to remain on paper, as a majority of them continue to be working with just a handful board members. Half of the board seat at these banks have been vacant. Ten of the 12 public-sector banks, even large ones like Punjab National Bank, Canara Bank and Union Bank of India - all except State Bank of India (SBI) and Bank of Baroda - don't even have a chairman. In 2014, while splitting the post of chairman & managing director (CMD), the government had decided to appoint non-executive chairmen at these banks. SBI, which has an executive chairman and four managing directors, was an exception.
The meeting will be attended by all heads and EDs of public sector banks
The Finance Ministry has invited private sector bankers.
At the NSE, it tumbled 8.45 per cent to Rs 132.10.
High interest rate, policy uncertainty in the year of elections, along with risk aversion led to slow takeoff in credit demand on the corporate front.
The managing director and CEO of India's second largest bank is already walking the talk by organising roadshows all over the world to showcase upcoming highway projects.
An administrative enquiry is under way to find out why United Bank's non-performing assets had been under-reported.
Describing RBI policy as not surprising, State Bank of India Managing Director and Chief Financial Officer Diwakar Gupta said there is room for the central bank to look at the long-term and not too much on the short-term issues like rupee fall and the CAD.
The RBI's decision to hike the benchmark interest rate will make home loans costlier and affect housing sales, especially in affordable and mid-income segments, according to property consultants. The RBI on Wednesday hiked the key benchmark rate by 50 basis points. Property consultancy firms Anarock, Knight Frank India, JLL India, Colliers India, India Sotheby's International Realty and Investors Clinic said that the RBI's move was on the expected line to control inflation and this would result in an increase in interest rates on home loans.
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Banks had a tough time in recovering loans from corporates in 2014.
The Central Bureau of Investigation has started a preliminary enquiry looking into the Rs 950 crore (Rs 9.5 billion) alleged bad loan given by IDBI Bank to Kingfisher Airlines ignoring the company's negative credit ratings and net worth.
