The global turmoil in the banking sector has made analysts cautious, who advise that investors stay away from stocks of this sector till the overall sentiment improves. The recent trouble for the banking sector started with the collapse of US-based Silicon Valley Bank (SVB), Silvergate Capital and Signature Bank. On its part, Moody's Investors Service has also cut its outlook for the US banking system to 'negative' from 'stable', citing the run on deposits at these three banks that led to the collapse of these banking majors in less than a week.
For the banking system a new cycle starts in FY2024. It's fraught with fresh challenges on asset quality and profitability, warns Tamal Bandyopadhyay.
Their sky-high profits in an essentially commodity business reflects too little competition.
While the collapse of a large financial intermediary can wreak havoc on the system because of the interconnectivity, a large business conglomerate too can play spoilsport if the banks have too much exposure to the entity, explains Tamal Bandyopadhyay.
The Waqf (Amendment) Bill, 2025 was passed in the Lok Sabha early Thursday, with 288 members supporting it and 232 against it.
Nadaaniyan's lack of charm, chemistry and cheek fails to create any ripples sighs Sukanya Verma.
A five-judge bench of the Supreme Court will consider review pleas challenging the October 2023 verdict that declined legal sanction to same-sex marriage. The review pleas will be heard in chambers on January 9, with Justice P S Narasimha being the only member of the original bench that delivered the verdict.
The American Gambits scored a crucial victory against the Ganges Grandmasters in the opening round of day four of the Tech Mahindra Global Chess League on Sunday. Hikaru Nakamura and Elisabeth Paehtz lead the winning charge for the American Gambits.
Bank of Baroda (BoB) has made prudential provision of Rs 500 crore for exposure to Go First, which has sought bankruptcy protection after the National Company Law Tribunal (NCLT) admitted its plea for voluntary insolvency. Sanjiv Chadha, managing director and chief executive officer of BoB, said the bank identifies issues in advance and makes provisions if required. The Mumbai-based public sector lender has an exposure of Rs 1,300 crore to the troubled airline.
The difference between what the banks play in the US and India is not that of soccer and football but rugby and football. SVB also has a unique character. But when risks are mispriced, the fallout could be very similar, points out Tamal Bandyopadhyay.
He drew the roadmap of India's economic reform, unshackled it from the licence raj and pulled it back from the brink when even its gold reserve was pledged.
The Supreme Court on Thursday dismissed a batch of pleas seeking to review its October 2023 verdict declining legal sanction to same-sex marriage.
Troubled edtech firm Byju's founder Byju Raveendran on Thursday said that he is willing to pay back the entire money to lenders if they are willing to work with him. During a two-and-a-half-hour call with the media, Raveendran said that lenders will not get any money if the process of insolvency against the company continues. "If they are willing to work with me, I am willing to give them money back before I take a single rupee out.
It was a protest which held a mirror to the government of a state taking pride in its commitment to democracy, gender equality and social indices.One person, who in his employed days had known governments and political parties at close quarters, told me that public perception of how the Kerala government handled the ASHA workers' strike had been terrible, reports Shyam G Menon.
Not all public sector banks are back in the black, but their collective net profit for the year is Rs 32,346 crore against a Rs 9,013 crore loss in the previous year, points out Tamal Bandyopadhyay.
Difficulties in containing the virus, an anaemic policy response, and underlying vulnerabilities, especially across the financial sector, are leading us to expect growth to fall by 5 per cent this fiscal year before rebounding in 2021, S&P said in a report.
'The BJP has killed public anger. They have killed people's self-respect.'
Transiting from "survival mode", which took most of the management time in FY21, the bank has been able to take a long-term view in terms of growth and preparing technology in the past 12 months.
'Does 99 percent guarantee character and capacity for an independent awareness of life or does it make you -- barring exceptions -- a compliant careerist beholden to governments and corporations?' 'What kind of political and social choices would such minds make?' asks Shyam G Menon.
Reliance Power (RPower) has defaulted on payment of interest worth Rs 1.17 crore to DBS Bank India and Rs 44 lakh to IDBI Bank. It failed to pay up interest on October 30, 2021. The firm, part of the Anil Ambani-promoted Reliance group, in filing with BSE, said it has term loans and working capital arrangements with three lenders - YES Bank, IDBI Bank and DBS. Its stock closed 1.41 per cent lower at Rs 12.6 per share on the BSE on December 1. About exposure of YES Bank, there is a 'standstill' applicable till December 26, 2021.
Zee Entertainment last week witnessed shareholder activism that saw an open call for the ouster of promoters and the incumbent management led by Punit Goenka. Besides, Dish TV also faced a similar call earlier this month. The trouble at Zee Entertainment can be gauged from the fact that this is a unique company wherein the promoters own just 3.99 per cent, but fully control the firm.
European Commission charges follow a two-year investigation.
Pakistan's current account deficit (CAD) increased to a 4-year high of $17.4 billion in the fiscal year of 2021-22, indicating more troubles for the ailing economy of the cash-strapped country. The State Bank of Pakistan (SBP) on Wednesday reported that the country recorded a CAD of $17.406 billion in FY22 compared to a gap of just $2.82 billion in FY21. According to Dawn newspaper, the massive CAD speaks a lot about the severe problem of the balance of payments.
Come October 1, merchants, payment aggregators and acquiring banks can no longer store the card details of customers.
The central bank is engaged with other financial institutions for investment as part of the scheme to resurrect Yes Bank under RBI imposed moratorium since March 5.
The 'bad bank' -- which will help banks clear their balance sheets by transferring the NPAs to special purpose vehicles -- has been one of the most debated ideas for stressed asset resolution.
'I am optimistic about the Budget because of the fiscal discipline the government has committed to.'
India's largest IT services firm TCS on Thursday reported a 4.99 per cent increase in its September quarter net profit at Rs 11,909 crore. The Tata Group company had reported a net profit of Rs 11,342 crore in the year-ago period, while in the preceding quarter, it had a post tax net of Rs 12,040 crore, a company filing said.
'We are going to need more technical people in government.' 'You can't expect a generalist to understand the complicated world of financial engineering.' 'I regret to say that most of our politicians have no competence to deal with these things. Nor is there a willingness to learn.'
Public sector banks, in a frenzy to cash in on the retail credit boom during the three years beginning 2003-04
Stumbling England and Netherlands get shot at redemption
The restructuring of banks' loans to troubled airlines, which the Reserve Bank of India (RBI) has allowed, is taking its time.
The federal agency issued a statement, saying it has attached fresh assets worth more than Rs 35 crore that are "beneficially-owned and controlled" by the PFI "in the name of various trusts, companies and individuals" as part of its ongoing probe against the outfit and entities linked to it.
Kumar was apprehended with the help of sketches and CCTV camera footage, senior superintendent of police Anurag Arya said.
The new season coasts along on the simple anecdotes that make up the piggy bank of family lore; the performances are as wonderful as before, but the sharpness of humour is starting to dull a bit, observes Deepa Gahlot.
Trumponomics, poor growth, and high valuation certainly don't make a bullish recipe for Indian markets, warns Debashis Basu.
rediffGURU T S Khurana answers readers' personal income tax queries.
'The problem is that the bubble may not only be in valuations, but also in investors' minds.'
the three investors that have submitted their final bids are not commercial banks. Among the three, one is a non-banking financial company. Another distinctive feature of the revival is that PMC may lose its cooperative bank characteristic after its reconstruction.
SBI's ownership should give confidence to depositors and lenders about the bank's solvency.
