In similarly-worded notices of attachment dated October 17, Sebi asked 11 banks, including ICICI Bank, Bank of Baroda, HDFC Bank, IDBI Bank, Indian Overseas Bank and Standard Chartered Bank, to attach the accounts of the three individuals.
Sensex eneded 374 points higher on rate cut expectation from the RBI.
Lenders are not enthused because, as brokers, their responsibility towards policyholders will be higher than corporate agents.
'China could intentionally release excess water.' 'The North East is already flood-prone during the monsoon, and even a controlled release from Chinese dams (during the monsoon) could worsen flooding.'
The giant statue of Sardar Vallabhai Patel is most impressive and a trip to the viewing gallery on top is the high point of a trip to Kevadia, Gujarat.
Sixteen merchant banks are in the fray to act as book running lead managers (BRLM) for the initial public offering of Life Insurance Corporation of India (LIC). These merchant banks will have to make a presentation before the Department of Investment and Public Asset Management (DIPAM) on August 24-25. The shortlisted banks are BNP Paribas, Citigroup Global Markets India, BofA Securities, Goldman Sachs (India) Securities, HSBC Securities and Capital Markets(India), J.P. Morgan India, Nomura Financial Advisory and Securities (India), Axis Capital, DAM Capital Advisors, HDFC Bank, ICICI Securities, IIFL Securities, JM Financial, Kotak Mahindra Capital, SBI Capital Market, and Yes Securities India.
The Reserve Bank on Wednesday said it plans to issue new bank licences around January, "consistent with the highest standards of transparency and diligence."
While Chanda Kochhar got a pay of Rs 2.66 crore, Arundhati Bhattacharya took home only Rs 28.96 lakh
Indian banks are the 2nd-fastest-growing ones.
rediffGURU Major Inderpaul Singh (retd) offers career guidance and helps students and individuals handle challenges in their professional lives.
The metro, it seems, is politics-proof -- even if it comes at a high cost.
'Consider 40% to 50% in equities, 10% in gold as a hedge, and the remaining 30% to 40% split between multi-asset funds and hybrid funds.'
'We still need a certain number of large public sector banks for financial inclusion and stability purposes.'
'It was inspired by the Hamas attack and was like their attack -- well planned and well executed.'
'She was either overconfident that nothing will happen to her or she underestimated the gravity of the allegations.'
Investors took the Yes Bank event negatively because it raises a question on the stability of the overall Indian financial system.
Markets regulator Sebi on Monday barred Essel Group chairman Subhash Chandra and Zee Entertainment Enterprises Ltd (ZEEL) MD and CEO Punit Goenka from holding the position of a director or key managerial personnel in any listed company for siphoning off funds of the media firm. The case pertains to Chandra, who was also the chairman of ZEEL during the alleged violation, and Goenka having abused their position as directors or KMPs of a listed company for siphoning off funds for their own benefit. In its interim order, Sebi noted that Chandra and Goenka alienated the assets of ZEEL and other listed companies of Essel Group for the benefit of associate entities, which are owned and controlled by them.
The recent depreciation of the rupee along with sharp fall in the country's foreign exchange (FX) reserves has sparked a debate whether stability of the exchange rate is necessary and desirable. The rupee was one of the least volatile currencies among peers for almost two years before the current downward pressure started in September after the US Federal Reserve lowered interest rate.
Sustained foreign fund inflows and strengthening rupee are among the main reasons behind the market rally.
They are realising unstructured data generated from social media and mobiles is vital for business decisions.
'I have a deep affection for Indian cricket. If someone asked me to come back, I wouldn't say no.'
The RBI wants to include shares and options within the variable salary of the CEOs, proposed to be capped at 200 per cent of their fixed salary; the floor for it is 50 per cent.
The scrutiny is expected to be over this month itself.
'We do not know when we will get to the business-as-usual mode.' 'Many borrowers may not be able to pay up.' 'The incidence of cheque bouncing has doubled or even trebled, some lenders say,' says Tamal Bandyopadhyay.
Karnataka Deputy Chief Minister D K Shivakumar denied on Monday making any comments regarding changing the Constitution to accommodate four per cent reservation for Muslims in the state. He claimed he was "misquoted" and warned of moving a breach of privilege motion. Shivakumar's remarks came after the BJP forced repeated adjournments in the Lok Sabha over his alleged comments on the matter. The BJP has accused Shivakumar of seeking to change the Constitution for political gain, highlighting the ongoing controversy surrounding reservation policies in India.
Kotak Mahindra Bank was the biggest gainer on both the indices, ending nearly 9 per cent higher following reports that Warren Buffett's Berkshire Hathaway Inc was planning to pick up stake in the private sector lender.
The NSE Nifty settled the day 38.85 points or 0.37 per cent lower at 10,500.90 after shuttling between 10,590.55 and 10,456.65, intra-day.
'My advice: Don't mark your portfolio to market every day. Focus on survival.'
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
The Enforcement Directorate has arrested the chairman and the managing director (MD) of Mumbai-based Omkar Realtors and Developers in connection with a money laundering case against them linked to the alleged loan fraud in Yes Bank, official sources said on Wednesday.
Ashok Leyland, ITD Cementation India have more than doubled.
Other members of the high-level advisory committee are former RBI Deputy Governor Usha Thorat, former Securities and Exchange Board of India Chairman C B Bhave, and Nachiket M Mor, Director of the Central Board of Directors of RBI, Governor Raghuram Rajan said.
Moreover, all her existing and future entitlements such as any unpaid amounts, unpaid bonuses or increments, unvested and vested and unexercised stock options, and medical benefits will be revoked.
Tina Ambani, wife of Reliance ADA Group chairman Anil Ambani, on Tuesday appeared before the Enforcement Directorate (ED) in Mumbai for questioning and recording her statement in connection with an investigation linked to the alleged contravention of the foreign exchange law, official sources said. Anil Ambani had recorded his statement in the case on Monday under sections of the Foreign Exchange Management Act (FEMA) and he is expected to appear before the central agency again later this week for completion of the exercise.
Reliance Power (RPower) has defaulted on payment of interest worth Rs 1.17 crore to DBS Bank India and Rs 44 lakh to IDBI Bank. It failed to pay up interest on October 30, 2021. The firm, part of the Anil Ambani-promoted Reliance group, in filing with BSE, said it has term loans and working capital arrangements with three lenders - YES Bank, IDBI Bank and DBS. Its stock closed 1.41 per cent lower at Rs 12.6 per share on the BSE on December 1. About exposure of YES Bank, there is a 'standstill' applicable till December 26, 2021.
The mass cancellation of coal blocks by the Supreme Court has sent banks in a jittery mode as they have extended over Rs 1 lakh crore loans to power plants that were fed by these mines.
The Reserve Bank of India's (RBI's) latest order on unsecured loans is set to hit the banking sector's growth in the near-term, cautioned analysts, as they see banks slowing down on aggressive retail lending. Besides, cost of funds for non-banking finance companies (NBFC) is expected to inch up as banks will pass on higher capital charge to NBFCs. "We believe the fallout of the RBI action will be mainly on growth, given the rising dependence on unsecured retail loans and lending to NBFCs for growth.
A day after the Reserve Bank of India (RBI) lifted its ban on HDFC Bank on issuing new credit cards, the country's largest private sector lender on Wednesday said it had resources and plans in place to "further reinforce pole position in the credit card segment" and that it would "come back with a bang". "We will aggressively go to the market, with not just our existing suite of credit cards but also new offerings in the form of co-brands and partnerships," Sashidhar Jagdishan, managing director and chief executive officer of HDFC Bank, said in a letter to his employees. The bank's management had earlier indicated that the lender had been sourcing liability customers aggressively over the past few months.
'Thankfully, as Indians, we have a long history of trans people in our culture, in our religions, in our mythology.' 'It's not a fad which has suddenly come into existence, the way that a lot of Americans treat it.'
Fresh buying by domestic institutional investors and better-than-expected June quarter results from some blue-chip companies boosted investor sentiment
