The size of the hole in today's banking crisis appears to be roughly 10 per cent of GDP.
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.
'Since September 1, a senior cabinet minister has been to-ing and fro-ing between Jalna and Mumbai by chartered flight every single day with messages from the two deputy chief ministers and the chief minister to get Manoj Jarange-Patil to back down from his agitation.'
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.
Customers using e-commerce websites are young and techno-savvy.
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.
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.
Delhi Capitals will need their under-performing Indian batters to deliver when they take on the mighty and versatile Gujarat Titans in the IPL match in Ahmedabad on Tuesday.
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.
A total of 11 international banks have publicly distanced themselves from the project.
FinMin officials say an announcement could be made in the Budget.
The ban was being imposed with investigations revealing that in most of the cases of bank robbery, the criminals used their cellular phones.
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.
The Ministry of External Affairs (MEA) on March 17 had announced that State Bank of India (SBI) would extend a term loan of $1 billion to Sri Lanka, fully guaranteed by the Indian government, and this was part of India's financial aid to the troubled island nation. Ministry of External Affairs (MEA) spokesperson Arindam Bagchi was quoted saying by news agency PTI that the loan would be used for importing food, medicines, and other essential items. "India has always stood with the people of Sri Lanka and we will continue to extend all possible support at this juncture.
June was a memorable month for the 101-year-old Tamilnad Mercantile Bank (TMB). Last month, the Thoothukudi-based bank witnessed two new landmarks in a history in which the last three decades could easily qualify for a Kollywood blockbuster.
"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.
Mutual funds, bonds, PPFs, equity and real estate are some options which offer varying rates of return.
Investors need to identify banks which have a proven track record of growth mainly in terms of their advances.
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.
Loans make money for the lender in the initial years but losses come later when they turn bad.
'The central BJP leaders were determined to push Hindutva hard, and it failed.'
Udayanidhi has handed over to the BJP one real issue to draw the line between it and the INDIA alliance, predicts N Sathiya Moorthy.
A lot depends on how Srei shapes up under the new administrator and his team, which is critical for investors' interest.
Nikesh Arora is indeed paid a lot, networks hard, and has made some punchy bets.
Say 30 days not enough to resolve stress; want higher provision norms deferred till economy picks up
Mumbai Indians face an uphill task against the firepower of Kolkata Knight Riders batters when the teams clash in Mumbai on Sunday in the Indian Premier League, with both former champions looking to get their campaigns back on track.
Shobha Warrier/Rediff.com travels to Pullampara to discover how it became India's first digital literate village.
'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.
The crisis-ridden Global Trust Bank would be merged with Oriental Bank of Commerce, RBI said on Monday.
Foreign portfolio investors (FPIs) turned net buyers in October after being net sellers in the previous month. In October, FPIs bought shares worth nearly Rs 8,430 crore ($1 billion) against net selling of Rs 13,405 crore ($1.6 billion) in September. Positive flows during three of the previous four months have pushed the domestic markets towards fresh all-time highs. At present, the Sensex and Nifty are less than 2 per cent shy of breaching record highs logged in October 2021. A rally in equity markets in the US and Europe is in hopes that the Federal Reserve may go soft on rate hikes after its November meeting.
Over the short to medium term, valuations are more likely to move down than up.
The Reserve Bank of India (RBI) raised the minimum capital requirement for so-called shadow banks and tightened rules on deposits and bad loans to avoid any potential risk to the economy from these rapidly growing finance firms by regulating them like traditional banks.
If credit card delinquency spells trouble, there may be questions with regard to the much bigger retail sub-categories of car and housing loans, notes T N Ninan.
Reserve Bank of India (RBI) Governor Raghuram Rajan on Tuesday cautioned against extrapolating the issue of alleged graft charges in a public-sector bank to the entire public sector banking system.
Both are finding it difficult to sell one each of their plants -- Chennai Maraimalai Nagar (Ford) and Talegaon near Pune (GM) -- and are finding the road blocked by employee severance snarl-ups, report Sohini Das and Shine Jacob.
India's $121 billion troubled debt pile, over $100 billion of which is on the books of state-owned banks, has come under close scrutiny from prosecutors, the media and politicians
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