'Since there is no photo-op, or quick fix solutions, politicians do not want to address climate change. It is very unfashionable.'
Former managing director of Maruti Suzuki India, Jagdish Khattar, passed away on Monday morning following a cardiac arrest, according to people close to him. Khattar (79), a former bureaucrat, was considered as one of the most high profile leaders of the Indian automotive industry, laying the foundation for Maruti's future growth after the government began its disinvestment in 2002 and gradually exited from its joint venture with Suzuki Motor Corporation (SMC). He had joined the then Maruti Udyog Ltd in July 1993 as director (marketing) and went on to become executive director (marketing) in the next six years.
Despite a shaky Q3, conviction over the stock remained high, with 65 per cent of the analysts polled on Bloomberg retaining their 'buy' recommendation.
'Should the government be in the business of running banks?' 'Particularly when it does not have the fiscal strength to continuously infuse capital into such banks?'
The finance minister said easy access and efficiency in providing banking services will help in revival of businesses which are restarting operations after the lockdown.
The story of Sahara India Pariwar founder Subrata Roy, who died in Mumbai on November 14 aged 75, is the stuff of movies - of a spectacular rise and an equally spectacular fall. Born in Araria, Bihar, Roy was 30 when he set up Sahara in 1978. He started with a capital of about Rs 2,000, a peon, a clerk and his father's Lambretta scooter in Gorakhpur, eastern Uttar Pradesh, writes Tamal Bandyopadhyay in his 2014 book, Sahara: The Untold Story. Sahara was not his first venture.
How much will the banks' bad assets grow in March? It could be anywhere between Rs 1.2 trillion and Rs 2 trillion, observes Tamal Bandyopadhyay.
Reserve Bank Governor Raghuram Rajan on Thursday said the central bank will continue its focus on taming inflation, speeding up resolution of distressed projects and ensuring enough capital for banks through balance sheet clean-up.
'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.'
'He's at best a holding-CEO. Not one who will re-imagine the bank,' a senior banker and former colleague tells Raghu Mohan about HDFC Bank CEO & MD Sashidhar Jagdishan.
The Lok Sabha contest in Thiruvananthapuram is shaping up to be a significant battle involving key candidates like Shashi Tharoor, Rajeev Chandrasekhar, and Panniyan Ravindran. This three-cornered fight highlights the political dynamics in Kerala's capital city, with each candidate bringing their own vision and promises for the region's development, notes Rajeev Srinivasan.
Or a brief stop on the way to better times, asks Ajit Balakrishnan.
'But he was very quick and did a very stylish adab.' 'Of course, I didn't expect him to hug.'
Paying for facilities like issuance of demand drafts, cheque books, credit or debit cards and ATM interchange may soon become passe as public sector lender IDBI Bank on Wednesday waived-off all service charges on current and savings accounts (CASA), the first by any bank.
It has been a year since the Reserve Bank of India (RBI) initiated prompt corrective action (PCA), an exercise that puts weak banks under central bank scrutiny, against the 94-year-old Lakshmi Vilas Bank (LVB). But recently, this low-profile Chennai-headquartered bank found itself attracting some unwonted publicity when 60 per cent of its shareholders voted against a proposal to re-appoint seven directors, including one of the promoters, K R Pradeep (who holds around 2 per cent), and the company's managing director & chief executive officer S Sundar.
A common feature in India is the lag between the occurrence of frauds and the time they are actually reported.
Companies don't have to be in the field to nudge people to return money they owe lenders.
The most important lesson is that you have to build your political proposition, and sell it yourself. You can't leave it to the courts, media, NGOs and civil society and expect them to play the role of the Opposition. That's precisely what Mr Modi's challengers have been doing and we know the results, notes Shekhar Gupta.
From zeroing in on the best means for stake dilution to moving beyond microfinance, Bandhan navigates a tough path. Namrata Acharya reports.
'It is flabbergasting to think that this heavenly region has, for decades, been coveted by India's aggressive neighbours,' says Claude Arpi after a recent visit to Ladakh. 'Wanting to use the newly created infrastructure to defend the borders after the clash of 2020 with China and the resulting standoffs, the home ministry is keen to boost border tourism to show that these areas are controlled by India.'
The RBI was not party to the decision to demonetize 500 and 1,000-rupee notes, which was taken at the highest level of India's political leadership.
The accused robbed them of about Rs 2 lakh on Saturday when they were on their way in a taxi to Gurugram in Haryana to deliver the money.
Pakistan Tehreek-e-Insaf activists staged a protest after Khan was disqualified by the Election Commission of Pakistan in the prohibited funding case last year.
Everything about Sharmila was a gift from the Divine: The graceful way she twirled her paintbrush, the naughtiness with which she teased his desperate attempts at cooking her favorite dishes, the gentleness when her lips touched his, the softness of her hair as it fell on his face, the flowery smell of her perfume when he nuzzled her neck, the mole near her quivering lips that he kissed every opportunity he got.
What was the RBI doing, what was the PNB top management doing, what were the auditors doing, asks Debashis Basu.
The crisis at the bank is attributed to loans made to realty player Housing Development Infrastructure Ltd, which were allegedly hidden from regulators' scrutiny, turning non-performing assets.
'Article 370 laid down the edifice of the relationship between J-K and the Union of India.' 'If you look at the Article, what is there now is a provision which states that all provisions of the Constitution of India applies to J-K.' 'The veto that the state could exercise previously on most Union laws has ended.'
'The CM kept his cool, but his adviser was liberal with filthy language.' Tamal Bandyopadhyay recreates the diary of a general manager in a public sector bank, providing a glimpse of how they balance their work and life.
The village in Maharashtra has continuously sent soldiers to the Army since World War I. Every other person you meet is a soldier or a retired soldier or is aspiring to be a soldier.
The Nifty50 slipped 33 points to close the session at 8,509 after hitting an intra-day high of 8,587.
A special Central Bureau of Investigation court in Mumbai has convicted four former bank officials in one of the multi-crore securities scam cases and sentenced them to three years imprisonment, 25 years after the scam involving 'Big Bull' Harshad Mehta came to the fore.
Banks are in need of government support to manage the stressed assets
All public sector banks have moved to such a regime voluntarily, while private banks are yet to. The state-run banks have introduced repo-linked products for floating-rate home and auto loans, but the RBI said loans to micro, small and medium enterprises (MSMEs) should also be linked to an external benchmark.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Indrani is in a buoyant and energetic frame of mind these days -- in a full-on Mood Positive. She has a tell-all book titled Unbroken out, that she terms as an 'eet ka jawab kalam se' and appears in media interviews all over the place, when she is not kick-boxing, doing yoga, or travelling, visiting temples, or floating in shikaras on Srinagar's Dal Lake.
'People are blowing up their entire retirement fund; they are selling their land and house to spend on one day for a marriage.'
Senior bankers are trying to impress upon the central bank that the shift to external benchmark-linked lending be postponed to April 1, 2020.
A suspected agent of Pakistan's Inter-Services Intelligence was arrested in Meerut on Saturday on the charge of passing defence information to the ISI, a senior police officer said.
Merely bringing down the government stake below 51% may not find any taker for the PSBs. The government must bring down its holding to at least 26%, recommends Tamal Bandyopadhyay.
The move will to a large extent speed up the monetary transmission process--which is banks passing on the rate cuts that the Reserve Bank announces to their borrowers without much delays--something that has been missing all these while and something that the RBI has been unhappy with.
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