India Post will have to re-align its bloated staff well before getting transformed into a full fledged bank.
The agency is looking at alleged "diversion of funds and financial reporting frauds".
On October 5, the Directorate General of Civil Aviation, or DGCA, finally wrote to the troubled Kingfisher Airlines, asking it to show cause why its licence should not be revoked.
Ten public sector banks and two private banks have an exposure of $1.08 billion to US financial majors Wachovia Corporation, Washington Mutual, AIG, Lehman Brothers and a European financial institution Fortis. About $445.60 million was fund-based exposure, while $634.20 million was non-fund based exposure.
Shelar demanded that Desai's death should not be treated just as a case of accidental death, but must be dealt with from a larger perspective.
The ban was being imposed with investigations revealing that in most of the cases of bank robbery, the criminals used their cellular phones.
Government's reforms agenda in Parliament is in for trouble with its biggest ally Shiv Sena on Monday joining some Opposition parties in declaring resistance to a bill on raising FDI cap in insurance sector from 26 per cent 49 per cent.
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.
The size of the hole in today's banking crisis appears to be roughly 10 per cent of GDP.
Customers using e-commerce websites are young and techno-savvy.
Benchmark BSE Sensex and NSE Nifty closed marginally down in a volatile trade on Wednesday due to profit taking by investors after two straight days of gains amid mixed global trends and foreign fund outflows. The 30-share Sensex dipped 17.15 points or 0.03 per cent to settle at 60,910.28. During the day, it declined 213.66 points or 0.35 per cent to 60,713.77.
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.
Now, 83 per cent males and 77 per cent females have formal bank accounts but they are hardly using them
'The RBI is not releasing Rs 2,000 notes for the last 10 days; probably they have stopped printing it.'
Coffee Day Enterprises Ltd has reported a total default of Rs 465.66 crore on payments of interest and repayment of principal amount on loans from banks, financial institutions and Unlisted Debt Securities as NCDs and NCRPS, for the quarter ended September 30, 2022. Coffee Day Enterprises Ltd (CDEL) which is paring its debts through asset resolution, has a total debt of Rs 490.66 crore, including short-term and long-term debt. "The delay in debt servicing is due to liquidity crisis," said Coffee Day Enterprises Ltd (CDEL) in a regulatory update.
'My wife, family members as well as members of the workers will be trustees.' 'The trust will take all decisions -- no family member can individually take any decision.'
MF investors may not be able to support markets fall if selling intensifies
While the corporate sector has benefited from massive capital expenditure, leading to sky-rocketing stock prices, investors would do well to keep an eye on the macroeconomic picture and government finances, not just corporate profits, for signs of trouble, alerts Debashis Basu.
Delhi International Airport Ltd, the five-company consortium led by Bangalore-based infrastructure conglomerate GMR Group that is upgrading Delhi airport, has managed to raise over Rs 1,000 crore (10 billion) to meet its financial obligations for the Rs 8,890-crore (80 billion) project.
'Given that the market is now demanding disciplined growth, well-run companies should be able to demonstrate profitability with the cash on hand.'
A total of 11 international banks have publicly distanced themselves from the project.
FinMin officials say an announcement could be made in the Budget.
It is for China to decide what role it plays at the G20 summit in New Delhi, a top US official has said, asserting that if Beijing wants to come in and be a "spoiler", that option is available to it.
"ICICI Bank is aware that rumours are being repeatedly being circulated in certain centres regarding the financial strength of the bank. The bank states that these rumours are baseless and malicious," ICICI Bank CEO and Managing Director K V Kamath said on Tuesday.
Investors need to identify banks which have a proven track record of growth mainly in terms of their advances.
What's different this time is that global financial stress -- which has its genesis in four policy choices made in recent years -- is juxtaposed with a more resilient real economy, observes Sajjid Z Chinoy, chief India economist at J P Morgan.
The men with guns tend to know little finance, and establishing such a conspiracy then involves leakage of information, which is also dangerous, Ajay Shah points out.
The Singapore-based DBS Bank has said its total exposure to Dubai is around $1.28 billion and out of this only $400 million is to the troubled Dubai World, but the bank believes that the situation is manageable.
Benchmark BSE Sensex rose by 319 points on Monday on gains in IT and financial stocks after positive quarterly results amid supportive global cues. The 30-share BSE barometer rose by 319.90 or 0.53 per cent to close at 60,941.67. The index opened higher and gained more than 400 points to scale the 61,000 level. It touched a high of 61,113.27 and a low of 60,761.88 in the day.
In a meeting on Thursday evening, the RCom management, led by CEO Punit Garg, requested the bank representatives to release Rs 260 crore it received as I-T refund so that it could repay the dues to Ericsson.
'Hamas is going to be prepared. There will be booby traps and tunnels; it's going to be door to door fighting.'
Loans make money for the lender in the initial years but losses come later when they turn bad.
Mutual funds, bonds, PPFs, equity and real estate are some options which offer varying rates of return.
'Israelis not only harassed Palestine Muslims, but also Christians.' 'Palestinians have been telling Israel that this will blow up the situation, but they would not listen to us.'
Say 30 days not enough to resolve stress; want higher provision norms deferred till economy picks up
'We wrote to the bank a few weeks ago. We don't expect an immediate response as these things take time but we disagree with the claims they've made,' Australian IT quoted Tech Mahindra executive vice-chairman Vineet Nayyar as saying in Sydney. Satyam was blacklisted last September and a month later was forced to deny reports that its contractors had installed spy software on World Bank computers.
Group term insurance is far more cost-effective than an individual cover.
The crisis-ridden Global Trust Bank would be merged with Oriental Bank of Commerce, RBI said on Monday.
