'What the RBI is doing is trying to catch the mouse when they have to catch the tiger.'
Did the transaction fail? Did you receive your money on time?
Sensex ends belowe 26,800 on domestic concerns.
For the first time, the bank is recruiting the CFO from outside its experienced talent pool of top management.
Twenty years after India's insurance sector was opened up, unshackling the control of state-owned companies, as many as 50 private players have set up shop. Along with their foreign partners, private players have brought about a sea change in the product offering, distribution and underwriting processes, and services levels. Yet, India's insurance penetration needle has not moved much.
Sandeep Bakhshi named chief operating officer, who would be handling all the businesses.
'When fund managers talk of being bullish for the long term, they assume strong economic growth.' 'That is what they have assumed every year, naively believing the pronouncements and promises of ministers.' 'Unfortunately, they have been wrong year after year,' observes Debashis Basu, editor, www.moneylife.in.
In all this, the political establishment -- and especially the finance ministry -- appears the weakest link, and worse still, the possible reason for the political backing to Narain and Ramkrishna that emboldened them to defy all the sentinels -- the independent board, the auditors, top management persons like the chief compliance officer, the company secretary, and unbelievably the super-regulator Sebi, observes V Ranganathan.
Videocon group promoter Venugopal Dhoot on Friday appeared before a court in Mumbai in the alleged ICICI Bank-Videocon money laundering case, and was granted bail.
A well-run non-banking company has better margins than a bank, but the objective of setting up Ujjivan was to provide comprehensive financial inclusion, Ujjivan Small Finance Bank MD & CEO Samit Ghosh tells Anup Roy in an interview.
By 2025, Uber projects that 25,000-30,000 cars -- or 12 to 16 per cent of vehicle additions -- would be EVs, reports Surajeet Das Gupta.
With around 33 deals valued at USD 647.5 million, India has the highest investment in the fintech segment compared to China's USD 284.9 million during the quarter ended June 30, 2020, the report released by RBSA Advisors said.
Murkumbi will continue to retain his post till the stipulated notice period of 90 days or completion of open offer by Wilmar, whichever is later.
Post graduate colleges are aggressively tying up with banks to introduce banking courses.
'Earning expectations remain strong.'
Come October 1, merchants, payment aggregators and acquiring banks can no longer store the card details of customers.
Barring stray references such as the 'dual control' of banks and shifting the goalposts during demonetisation, he is not in a fault-finding mode with the government, notes Tamal Bandyopadhyay.
This is one of the many such cases that helped to create an acute fear psychosis among public sector bankers, reveals Tamal Bandyopadhyay in his fascinating new book Pandemonium: The Great Indian Banking Tragedy.
The chargesheet, filed in a special court in Mumbai, also names several other top officials of the bank.
RBI has cut the rates thrice so far in 2015 by 25 bps each.
'It could tempt investors to pick stocks that are not fundamentally sound.'
Arundhati Bhattacharya, the chairperson of country's largest bank SBI, has been named as the most-powerful woman in business in India by Fortune magazine.
Indian equity markets have seen huge inflows of foreign money recently, which many attribute to lower valuations and reduced flow of negative news.
A list of at least 20 individuals has been sent to the immigration department to prevent them from flying overseas.
The delay will increase the provisioning burden on lenders and will also postpone the benefit of reversal of money set aside as provisions.
The Reserve Bank has taken some steps to shore up the domestic currency.
After Chanda and Deepak Kochchar, the Kudvas are the second power couple in the financial world to come under the regulatory glare.
'Banks have to be braver, willing to take more risks and give confidence to the customer,' observes Joydeep Ghosh.
From the peak of $3.67 trillion in January, India's market cap has eroded by $676 billion amid rising bond yields and a record-breaking sell-off by overseas investors.
Investor wealth zoomed over Rs 10.48 lakh crore in two days as the Budget-driven market euphoria continued to charge bulls on Tuesday.
Many in the US establishment must hope that the crisis would put the brakes on China's growing military might. Well, it ain't gonna happen, says T T Ram Mohan, who was appointed a member of the prime minister's economic advisory council on Wednesday, October 28, 2021.
'Banking is a business of trust.'
Despite the rally, on the basis of valuations, Indian markets aren't too expensive, says Christopher Wood, managing director and equity strategist at CLSA.
The sudden movement of the rupee - post the monetary policy - is not a reason to panic, said currency dealers. According to them, a correction was overdue for the rupee that remained the best performing currency in the region for well over a month. The rupee closed at 74.72 a dollar on Friday from its previous close of 74.60. It had dropped 1.52 per cent against the dollar on April 7 after the Reserve Bank of India (RBI) announced its monetary policy, committing to buy Rs 1 trillion of bonds in the June quarter. A weak rupee goes well with the export narrative of the government, and is consistent with the RBI's intervention strategy that prevented an appreciation.
The sudden resignation and almost-immediate announcement of a successor came as a surprise to many.
Debt-ridden telecom operator Vodafone Idea is evaluating the option of converting interest dues arising out of the deferment of statutory payments into equity, a senior company official said on Monday. The company is also in talks with banks and investors for raising funds and part of the proceeds is likely to be utilised towards meeting obligations related to debt maturing this fiscal, Vodafone Idea Limited (VIL) chief financial officer Akshay Moondra said during the company's earning call. VIL MD and CEO Ravinder Takkar said the company expects to conclude fund raising plan by the end of the current financial year.
Reserve Bank of India (RBI) Governor Shaktikanta Das on Sunday said he has tested positive for coronavirus and will work from isolation while the central bank will continue to function normally. Das said he is asymptomatic and has alerted those who came in contact with him in recent days.
The NSE International Exchange (NSE IFSC) on Monday said trading in select US stocks will soon be facilitated through its platform. The Exchange will soon announce the operational details and will launch the product at the earliest possible time, NSE IFSC said in a statement. It further said depositories, banks and brokers have already started working with NSE IFSC to enable these investment products for Indian investors.
Debt-ridden telecom operator Vodafone Idea on Friday reported widening of its consolidated loss to Rs 7,230.9 crore for the third quarter ended December 2021. The company had posted a loss Rs 4,532.1 crore in the same period a year ago. Consolidated revenue from operations declined by 10.8 per cent to Rs 9,717.3 crore from Rs 10,894.1 crore in the year-ago period.
Housing sales are likely to be hit, especially in affordable and mid-income categories, following the RBI's decision to hike repo rate, according to real estate developers and consultants. However, the impact of RBI's decision to raise the benchmark lending rate by 50 basis points to 5.40 per cent is expected to be for a short term, they added. This is the third consecutive rate hike after a 40 basis points and 50 basis points increase in May and June, respectively.
