Digitisation is changing the banking business. This shift has resulted in a change in banking job profiles.
With the stock coming under pressure, the MF holding value could have dropped to Rs 50 billion, back-of-the-envelope calculations show.
Energy's exit is a cautionary tale for several foreign investors in India as close to 16 Gw of solar and wind power projects languish without any power purchase agreement, 24 Gw without transmission connectivity and around 2 Gw unilaterally cancelled by project developers.
'By not letting bankrupt banks fail, we have discouraged ordinary folk from taking precautions while choosing their bank or at least when they hear bad news about their bank,'says S Muralidharan, former MD, BNP Paribas.
Royal Challengers Bengaluru's IPL 2024 campaign is just one-match old, but it has already exposed their biggest chink. It's fragility in bowling, and they need better returns from bowlers against a confident Punjab Kings at an unforgiving M Chinnaswamy Stadium, in Bengaluru, on Monday.
For non-banks, the IL&FS crisis was nothing short of India's Lehman moment, which has for a foreseeable future reset the sector on multiple grounds.
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
RBI's oversight cadre move creates HR trouble, officers threaten agitation.
Former RBI governor R Gandhi said that the RBI needs to re-introduce a one-time restructuring package and mere moratoriums will not suffice in unprecedented times like the COVID-19 pandemic.
The Reserve Bank Officers Cooperative Credit Society, which caters to the credit needs of RBI officers posted all over India, has a fixed deposit of Rs 105 crore in the bank on which the RBI has placed various curbs for six months following revelations of irregularities.
Trouble at a single bank among the top five most connected lenders could wipe out nearly 50% of Tier I capital
The problem is actually acute in the diamond jewellery industry where there is no uniform criteria of inventory valuation unlike gold, whose prices are uniform and widely quoted.
In the current economic scenario, most banks around the world have experienced some jitters and felt the jolt. However, some banks have managed to steer away from the storm and stay resistant to the troubles whirling around the sector.
The MNS chief started his speech with the name of Nehru, then paused. After a few tense seconds, he resumed: "After Nehru, here is the only politician who will be PM for the third term."
Many users did not know that their entitlement was not coming to their regular bank account but going to an account which they had not applied for.
It has been a year since the Reserve Bank of India (RBI) initiated prompt corrective action (PCA), an exercise that puts weak banks under central bank scrutiny, against the 94-year-old Lakshmi Vilas Bank (LVB). But recently, this low-profile Chennai-headquartered bank found itself attracting some unwonted publicity when 60 per cent of its shareholders voted against a proposal to re-appoint seven directors, including one of the promoters, K R Pradeep (who holds around 2 per cent), and the company's managing director & chief executive officer S Sundar.
Unlike any other business, banking is a turf where the captain's role is the most critical. Often a bank is defined by the personality of the CEO who runs it. Both HDFC Bank and Kotak Mahindra Bank are the creation of their CEOs, notes Tamal Bandyopadhyay.
According to police, Javeed allegedly thrashed Samina on Monday when she was celebrating the victory of the BJP in the recently-held assembly elections, counting for which was done on December 3.
MCA blamed its financial troubles on non-receipt of payments from the Board of Control for Cricket in India for the last 10 months.
The court noted that despite repeated orders, Mallya did not appear in the court and it was inevitable for the state machinery to intervene and ensure his presence.
HCL Tech led the Sensex gainers' chart, spurting 3.58 per cent, followed by UltraCement, Nestle India, Tata Steel, Kotak Bank, ICICI Bank, Bharti Airtel and HDFC twins. In contrast, ITC, Maruti, NTPC, Asian Paints and Sun Pharma were among the main laggards, shedding up to 1.51 per cent.
The Supreme Court on Wednesday asked the Jalan-Kalrock consortium, the new owners of cash-strapped Jet Airways, how much have they paid towards dues on account of provident fund and gratuity to the former employees of the troubled airline. The top court made the query while commencing the hearing on a batch of petitions, including the one filed by the Jet Aircraft Maintenance Engineers Welfare Association, against the October 21, 2022 order of the insolvency appellate tribunal NCLAT.
Though Indian banks' exposure to the troubled euro zone is negligible, funding pressure could impact them, Economic Survey 2011-12 said.
To a question related to RBI's policy rate, Rajan said no amount of interest rate cut is going to help if credit growth is weak.
Mergers to create at most six state banks
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.
Kharge also targeted Prime Minister Narendra Modi, saying the people should not believe Modi's "guarantees".
Many stalled projects are about to get going again, providing potential relief to banks, says T N Ninan.
Boom, bust or a bit of both: as the jury bides time before ruling on the US 'recession', the economy's vital signs at a perplexing time of high-interest rates, still-punishing inflation, and surprisingly strong economic gains are a study of a growing debate over whether the world's largest economy is barrelling into a new downturn. With the US Federal Reserve's (Fed's) inflation fighters attempting the risky pursuit of 'pillow-soft landings' and its economy sending out mixed signals, if there is indeed a recession, it could spell trouble for domestic equities and corporate earnings growth.
The National Company Law Tribunal has admitted an Indusind Bank plea for insolvency proceedings against Zee Entertainment Enterprises Limited (ZEEL). The division bench of judicial member H V Subba Rao and technical member Madhu Sinha on Wednesday also appointed Sanjeev Kumar Jalan as the resolution professional in the matter. The matter pertains to a default of Rs 89 crore by Zee Group's multisystem operator arm Siti Networks claimed by Indusind Bank, for which ZEEL was a guarantor.
Do central banks also suffer from moral hazard? Are they part of the problem or the solution?
The Reserve Bank on Wednesday said the amalgamation of Lakshmi Vilas Bank with DBS Bank India will come into force from November 27 and the moratorium imposed on the crisis-ridden lender will be removed on that day. The RBI issued the statement within hours of the Cabinet clearing the Scheme of Amalgamation of Lakshmi Vilas Bank Limited (LVB) with DBS Bank India Limited (DBIL).
The ED said that the investigation further revealed that there are 78 companies owned by the accused and his family members and it needed to probe whether the money went into these companies.
The decision was taken at the State Bank of India headquarters in Mumbai on Monday when the top managements of the lenders met.
Domestic equity investors' wealth eroded by more than Rs 4.43 lakh crore on Monday as fears of a financial contagion triggered by one of the biggest bank failures in the US roiled market sentiments. After a strong opening, Indian stocks went into a tailspin with the benchmark 30-share BSE Sensex tumbling nearly 900 points to close at 58,237.85 points -- sliding for the third straight trading session. The NSE Nifty too declined 258.60 points to end at 17,154.30 points.
The government must set up a Bank Investment Company to shrink its role in PSBs, if we are serious about tackling the two persistent issues - lax corporate governance practices and discretionary decision-making, says Shyamal Majumdar.
Banks will remain open for the public even on the weekend
At least five Chinese nationals were among the six persons killed on Tuesday when an explosive-packed vehicle rammed into their bus in Pakistan's troubled northwestern province of Khyber-Pakhtunkhwa, officials said.
The market could be influenced by events elsewhere in the world and regardless of what happens to India's economy
