Punjab National Bank has made a name for itself in recovery of bad loan dues. Usha Ananthasubramanian, managing director and chief executive officer of the government-owned lender, explains how it has achieved this reputation.
Most borrowers of loans against property pin hopes on future cash flows from their business, but in case of failure to repay the loan, the lender can repossess the property and sell it.
The government is drawing up a relief package for industry with steps such as relaxation of asset-classification norms by banks, thus allowing companies to delay the repayment of loans, and tax holidays for the worst-hit sectors like aviation and hospitality. But it might not be enough to stop more bankruptcies from getting filed.
Gadkari, who handles key infrastructure-related portfolios, said there is no problem with the road sector at present and money is not an issue anymore.
Replying to the general discussion on Budget in Lok Sabha, she said the former Congress chief was creating fake narratives but does not have patience to listen to replies on allegations levelled against the government.
In another round of economic booster, Sitharaman announced steps to help homebuyers and push exports.
'NiMo having skipped, the next best bet is a high-profile banker.' 'Ms Usha happens to be in the wrong place at the wrong time.' 'Ms Usha's crime? That's as thin as it gets.'
In 2009, ArcelorMittal had picked up a stake in Uttam Galva Steels. A new Section 29A of the IBC prohibits promoters of companies with NPAs of more than a year from bidding for these companies.
This relaxation is available to entities running working capital accounts with any bank with the sanctioned limit of Rs 1 crore or less
Digital India and Make in India (initiatives) are designed to give special boost to manufacturing and India has huge potential in these areas.
While players in the financial ecosystem are opening up to the idea of receivables funding for the sector, this market needs a regulator, which a Parliament panel feels only RBI can provide.
V Vaidyanathan, former executive director at ICICI Bank who turned entrepreneur to run Capital First, an NBFC that caters to smaller businesses, tells Pavan Lall in an exclusive interview that his new entity post the merger of Capital First and IDFC Bank which will be called IDFC First will launch by January and cater to a new India with value services.
Banks have collected about 1,500 kg of gold from temples and trusts under the Gold Monetisation Scheme (GMS) since its launch last November.
'When the government wants to sell these assets, even if one set of assets gets caught in any quagmire, the whole process will fail.' 'The entire world is watching us.'
'We are at $2.7 trillion and 2024 is not far away.' 'The country will need to grow by 9% every year for 5 years continuously and raise the aggregate investment rate to 38% of GDP to achieve the government's target of turning India into a $5 trillion economy.' 'Given the fact that we are only growing at about 5% and our investment rates are only about 30%, it may take a number of years before we can reach that targeted level.'
The officers did not arrest Neeraj Singhal despite CBI Director Ranjit Sinha's orders.
Senior Executive Director & Co Head (Strategy) of Kotak Institutional Equities Sanjiv Prasad tells Prasanna D Zore/Rediff.com that even if there are a number of challenges facing the Indian equity markets, there are certain sectors that offer a ray of hope.
Higher provisioning drags net profit down by 7.8 per cent.
Reserve Bank of India (RBI) Governor Raghuram Rajan spoke on a host of issues at his last post-policy interaction with the media
'Fall in line or you will be in the line of fire.'
B Sriram, the senior-most managing director at SBI, along with fellow MDs Rajnish Kumar, P K Gupta, and Dinesh Kumar Khara had been interviewed for the post
GST stabilisation, DTC implementation and banking reforms are crucial for sustaining high growth for a long period, says Rashesh Shah.
The change may give "secure creditors" the first right to auction an asset in order to recover the dues.
If warranted they can initiate criminal proceedings including filing of FIR, a Finance Ministry official said.
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.
Managing expectations is a challenge for policymakers.
Tamal Bandyopadhyay, columnist and author of several books like From Lehman to Demonetisation: A Decade of Disruptions and Sahara: The Untold Story, tells Rediff.com why Yes Bank depositors should not panic and the current crisis at India's fifth largest private lender does not pose any systemic risk.
Rajan has been facing continuous attacks by Bharatiya Janata Party MP Subramanian Swamy and some other sections, who have alleged that he has failed to lower interest rates and boost the economy
Reserve Bank of India Deputy Governor Viral V Acharya further said that the impact of the notes ban would only be temporary and would help in bringing informal sector into the mainstream economy.
Surjewala alleged that Mehta and his family were allowed to leave India even when there were complaints pending against him with the CBI.
The BSE Midcap index has declined 5.7% thus far in May 2018. In comparison, the S&P BSE Small-cap index has lost 5.6%
The Congress president said the PM should apologise for the note ban decision.
'Rajan brought in a healthy air of competition in the banking sector.'
Governor Urjit Patel and his deputies spoke to the media about the central bank's decision to raise the repo rate.
Benchmark share indices trimmed intra-day gains after global crude oil prices resumed their downward trajectory after sharp gains on Friday.
Hyderabad-based Andhra Bank is aiming to get a significant proportion of the state government's business, to boost its share of low-cost deposits
A cut in rates would have encouraged the banks to lend aggressively on the retail front.
