Some banks have seen gross non-performing assets as high as 15 per cent in their education loan portfolios.
India appears poised to sustain its growth in a more durable way than before with the economy carrying the momentum from FY23 into the current fiscal year, the Annual Economic Review for 2022-23 released by the finance ministry on Thursday said. However, the report cautioned that escalation of geopolitical stress, enhanced volatility in global financial systems, sharp price correction in global stock markets, a high magnitude of El-Nino impact, and modest trade activity and FDI inflows, are factors that could constrain the pace of growth. "Should these developments deepen and dampen growth in the subsequent quarters, the external sector may challenge India's growth outlook for FY24," the finance ministry said.
'What is critical today in India is confidence of depositors.' 'If you have these kinds of problems spreading like this, the confidence level of a lot of people in the system gets shaken.'
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.
Religion matters. Aspirational India is still poor. India admires strong leaders. India values decency. Shreekant Sambrani highlights the reasons why the BJP pulled off improbable victories in the Hindi heartland.
The ICICI board is looking to the retired petroleum secretary to provide 'maturity and sagacity'.
No comments could be obtained from either ICICI Bank or Bank of Rajasthan. Pravin Tayal, the key promoter of the Bank of Rajasthan, could not be contacted for comments.
The 55 basis point (bps) spike in the US 10-year bond yield, triggered by a combination of FOMC's hawkish commentary and BOJ's relaxation of the yield control curve (YCC) has made analysts cautious on Asian equities and expect them to trade sideways in the short-to-medium term.
Bankers pay a small price for their misdeeds, no matter how large the cost to their banks or to the economy at large, says TT Ram Mohan.
ICICI Bank has the largest proportion of SDR loans as a percentage of its total, followed by state-run United Bank of India and Canara Bank.
Jet Airways HQ owner wants resolution professional to vacate premises. The licence for occupying the place has been terminated, on account of the airline having not paid the rent after March.
Gujarat State Co-operative Bank, the apex co-op bank in Gujarat, has already hiked salaries by 16 per cent, said Shailesh Shah, General Secreatary, Gujarat State Co-operative Banks' Employees' Federation. The bank has a workforce of 237 employees. Ahmedabad Co-operative Bank too has given Rs 1600 hike to their employees.
Prefer proposal for airline to float bonds guaranteed by govt.
Collectively, the pack of 12 has posted a 50 per cent rise in profits -- Rs 25,685 crore. On a quarter-on-quarter basis (that is, September over June), the rise is 68 per cent. Public sector banks have never had such a stellar performance, explains Tamal Bandyopadhyay.
A 2-1 victory gave the Chennai side their first victory in 17 matches in the Nationa.l Football League
What is more surprising is that a surge in Russian oil supplies has come after the G7 imposed stringent sanctions on Moscow.
Troubled banking giant Citigroup on Friday said it has completed the sale of its German retail banking business to European banking group Credit Mutuel-CIC for euro 5.2 billion ($ 6.6 billion) in an all cash deal.
'Let's walk on two legs: Facilitate better resolution under the present system and set up PARA as well by transferring loans amounting to, say, Rs 1 lakh crore.'
"Canara Bank is the lead banker of lenders' consortium to DCH and the bank is conducting forensic audit of DCH," Financial Services Secretary D K Mittal told reporters.
Debates on changing the name of India to Bharat continue to spark a crisis of identity without answering moot questions that stare us in the face. Ramesh Menon asks a few of those questions that do not have easy answers.
Israel needs to come terms with the new reality that they are no longer invincible or the dominant power in the West Asian region, observes Ambassador M K Bhadrakumar.
Insolvency professionals feel the bankruptcy code will deter defaulters, but NPAs will not cease unless banks are sensitised on credit appraisal and experts are hired by banks to inspect what is happening with their loans.
In the case of Iran, the lifting of sanctions has paved the way for direct relations.
Force India's 2015 Formula One car will not make its track debut until the third and final pre-season test in Barcelona some two weeks before the first race in Australia, the team said on Friday.
Sharma would be 60 in November 2018, and would have completed 10 years as Axis Bank's CEO the following year in June.
Currently, only three have completed more than six months of operation in the space - Fino Payments Bank, Airtel Payments Bank and Paytm
'The one sector where there is still a sense of crisis is banking, but the government has regrettably set its face against privatising any of the government-owned banks,' says T N Ninan.
The Trump Organisation has a secret server registered to Trump Tower that has been covertly communicating with a Russian bank, a media report said, in the latest allegation of questionable links between Donald Trump and Russia just a week ahead of the presidential polls.
Afwaah is a sum of Sudhir Mishra's thought-provoking reflections and appeal to question what's real, what's rumour, notes Sukanya Verma.
As part of its expansion plan to strengthen its base in North Maharashtra, Saraswat Co-operative Bank Ltd (SCBL), the largest multi-state co-operative bank in the country with a business turnover of Rs 17,000 crore, has acquired the financially troubled city-based Nashik People's Co-operative Bank (NPCB) with 14 branches.
Seeking ArcelorMittal be declared ineligible to bid for Essar Steel, the petition cited Section 29A of the Insolvency and Bankruptcy Code which bars promoters of defaulting companies from bidding for stressed assets.
In one of these clips or voice notes, he is heard stating that his company could not come out of the financial crisis it was facing because of the procedure adopted by the financial services firm.
Directing the Centre, states and Union Territories (UTs) to ensure the queer community is not discriminated against, the CJI, who is heading the constitution bench, said queer is a natural phenomenon known for ages and is neither urban nor elitist.
India Post will have to re-align its bloated staff well before getting transformed into a full fledged bank.
'The RBI is not releasing Rs 2,000 notes for the last 10 days; probably they have stopped printing it.'
Now, 83 per cent males and 77 per cent females have formal bank accounts but they are hardly using them
MF investors may not be able to support markets fall if selling intensifies
The agency is looking at alleged "diversion of funds and financial reporting frauds".
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances