'The CM kept his cool, but his adviser was liberal with filthy language.' Tamal Bandyopadhyay recreates the diary of a general manager in a public sector bank, providing a glimpse of how they balance their work and life.
Against predictions by most exit polls that the ruling Congress had an edge in the state, the BJP banked heavily on the charisma of the PM.
The chief minister said no one should indulge in vote bank politics
Personal loans have about 80 per cent share in exposures restructured under regulatory package 2.0 by eight banks who have declared results for the second quarter. The remaining 20 per cent are loans to individuals used for business and credit to MSMEs. The total recast exposure of these banks under One Time Restructuring (OTR 2.0) was Rs 27,708 crore.
Banks' bad loans might cross Rs 10 lakh crore by the end of this fiscal, mainly on account of slippages in retail and MSME sectors, a study said on Tuesday. "NPAs are expected to rise to 8.5-9 per cent by March 2022, driven by slippages in retail, Micro, Small and Medium Enterprise (MSME) accounts, besides some restructured assets," the study by industry body Assocham and ratings firm Crisil said. The study titled 'Reinforcing the Code' said the Gross Non-Performing Assets (GNPAs) of banks are expected to cross Rs 10 lakh crore by March 2022.
The draft amalgamation scheme of Punjab and Maharashtra Co-operative (PMC) Bank with Unity Small Finance Bank (SFB) allowed quick relief to depositors with savings of up to Rs 5 lakh, but a long wait for those who had their nest egg with the scam-tainted bank. If the scheme gets approved, 96 per cent (or 880,000 of 924,000) depositors will get their full money straightaway after PMC is merged with Unity SFB. According to the draft scheme, retail investors may get up to Rs 5 lakh from the Deposit Insurance and Credit Guarantee Corporation (DICGC) instantly, and then some more in phases till they can recall their full deposits after 10 years.
Large urban co-operative banks may come to be solely under the provisions of the Banking Regulation Act, even as the smaller among them are to remain within the exclusive fold of the Registrar of Co-operative Societies. The upcoming changes will bring the curtains down on the vexed issue of dual control of UCBs, which has been in vogue for 54 years. The new framework will affect 1,551 UCBs in the country, which had a total business of Rs 7.36 trillion.
'The last year's growth is a foretaste of things to come in the retail credit market.'
Rulers in New Delhi and their political aides in sensitive states like Tamil Nadu have to be doubly careful not to provoke a situation whose consequences may be much more than visible now to the naked eye, notes N Sathiya Moorthy.
'From where I started, I was pretty proud of myself to be able to give myself another chance to be here, to qualify and play a second round. It's a good feeling.'
The disagreement over liability further complicates any early conclusion of the Rafale contract.
'One way of doing this could be offering credit guarantee to the banks, say 10 per cent, for fresh loans given to micro, small and medium enterprises,' observes Tamal Bandyopadhyay.
Speaking at the Congress manifesto launch programme, Gandhi said it is a much closer contest than what is propagated by the media, and expressed confidence in winning the polls.
'Fawad wants to take my place as president of the bank in a fictional country.' 'That way I got to tell one of the most talented actors in Pakistan what to do all the time.' 'I enjoyed that.'
The Reserve Bank on Thursday proposed tighter norms for treatment of wilful defaulters under which banks and other lenders will be required to examine all accounts with outstanding amount of Rs 25 lakh and more to see if the borrower is deliberately not repaying the loan. The central bank has issued a 'Draft Master Direction on Treatment of Wilful Defaulters and Large Defaulters' on which comments have been invited till October 31. According to Reserve Bank of India (RBI), the draft Master Direction expands the scope for regulated entities which can classify borrowers as wilful defaulters and broadens the definition of wilful default.
Recent tribunal rulings open prospects of large haircuts and barriers to auctioning of personal guarantees, among other issues
This will pave the way for emergence of 24,000 new panchayat-level leaders in Telangana, he said.
Rajasthan is reeling under a huge financial burden with the state's debt having gone beyond Rs 5.59 lakh crores. Rajasthan has increased expenditure on education by 203.4 percent, by 105.4 percent on health, by 227.14 percent on housing. Its expenditure on social welfare schemes has increased by almost 2,475 per cent.
With no apparent wave on the ground or pressing everyday issues, that's what it boils down for voters as Rajasthan readies for assembly polls this week.
The court's observation came while granting bail to a person accused of running call centres in the country and defrauding United States citizens to the tune of about $20 million.
'What's happening in Gaza is another ethnic cleansing, a repeat of what happened in 1948.' 'That is why people do not want to evacuate. Either you evacuate or you die.'
Understand the pros and cons of SGBs before rushing to invest in them based on past returns.
Consensus remained elusive on a common BRICS currency as business leaders from the five-bloc nations debated the pivotal issue at a business forum on the periphery of a summit of the five-member bloc being hosted here by South Africa. In their two addresses at the Summit so far, the leaders of Brazil, Russia, India, China and South Africa have made no or scant references to the issue either. "The BRICS Business Forum discussed the international payments system in detail. "Participants also debated the question of whether a BRICS currency is possible or desirable, with strong views expressed both for and against and little consensus reached," Sim Tshabalala, chief executive of Standard Bank Group, told several hundred captains of industry from the partner countries and over 40 other nations across the globe at the Summit.
Both the BJP and the Congress have their share of challenges, with finding winning horses on top of this list.
The interest offered is mostly 0.5 to 1 per cent more than what other banks offer. Moreover, customer service and long-term association spanning generations are also other reasons for the popularity.
'There is no scope for any doubt. This was a scheme designed to enrich the ruling party.'
SpiceJet owes around Rs 240 crore (Rs 2.40 billion) to the Airports Authority of India (AAI) for using its airports in the country.
If indeed the gate opens for big industrial houses, the RBI needs to be smarter than them and demonstrate it through action, not reaction, observes Tamal Bandyopadhyay.
SpiceJet in a statement said that there is no default in payment to AAI since January this year.
Australian players who were part of the Pune Warriors squad in the Indian Premier League have received only 65 per cent of the total amount due to them by the now defunct franchise.
In a major relief to media major Zee Entertainment Enterprises Ltd (ZEEL), the National Company Law Appellate Tribunal (NCLAT) on Friday stayed the insolvency proceedings initiated against it earlier this week. Admitting a petition filed by ZEEL Managing Director and chief executive Punit Goenka, the appellate tribunal issued notices to private sector lender IndusInd bank and the interim resolution professional directing them to file a reply in two weeks. NCLAT said the submissions made by both sides need a detailed hearing.
A large percentage of total tourism business activity of India, which is estimated at $28 billion+ in forex and upwards of Rs 2 lakh crore in domestic tourism activity will be at economic risk through the year.
Samajwadi Party chief Akhilesh Yadav attacked its INDIA block ally Congress on caste census, reminding them that the party did not conduct a caste census when it was in power.
All banks are eligible for privatisation. A committee of secretaries will decide which banks will be privatised, says Financial Services Secretary Debasish Panda.
What will be its impact on the banks's balance sheets? Since banks need to provide for 10 per cent of the loans restructured, they would need Rs 50,000 crores to Rs 80,000 crore for this purpose, notes Tamal Bandyopadhyay.
The Indian Cricket Board has incorporated strict guidelines in their 19-page 'Request For Proposals' (RFP) from interested companies.
The poll results show that the BJP has increased its base among the SC, ST communities in the state. However, the party's prominent tribal face and Union minister Faggan Singh Kulaste lost the election.
Asked about him sticking with the Congress since he got the parliamentary polls ticket from Moradabad in 2009, he said loyalty is very important to him since the beginning.
Record liquidity infusion by the central bank in the banking system during the financial year 2020-21 amid sluggish economic activity resulted in banks investing more in safe government papers than in extending loans, data from Reserve Bank of India (RBI) showed. This trend has not been seen in nearly two decades, barring 2016 - the year of demonetisation.
Various airlines, including the defunct Kingfisher, owed Rs 3,030 crore (Rs 30.30 billion) to the Airports Authority of India (AAI) at the end of December last year.
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