'These are only passing clouds. The banking industry is a century-old industry and this is not the first time it is going through such a crisis.' 'When the economy revives, those companies that are in the infrastructure fields will also get revived.' 'After all, a lot of money has gone into creating assets like power projects and roads, so you can't say money has been wasted.'
CEO Shashi Arora discusses his roadmap for Airtel Payments Bank with Karan Choudhury.
We are clearly focused on increasing our loan book in segments such as auto loans, home loans, commercial vehicles finance and corporate loans, says Chanda Kochhar.
Kapoor is already facing an ED criminal case for receiving alleged kickbacks, through companies purportedly controlled by his family, for going slow on bad loans extended by his bank to some big corporate.
The Sensex ended up 380 points at 27,888 and the Nifty advanced 111 points to end five points shy of 8,400.
Debt-saddled telecom operator Vodafone Idea Ltd's Rs 18,000 crore follow-on offering (FPO) opened to a modest response on Thursday with just 26 per cent of shares on offer being sought by investors. Of the 1,260 crore shares on offer, 331.24 crore was subscribed on Thursday, according to information on the BSE. Qualified institutional buyers picked up 61 per cent of their 360 crore shares reserved for them while non-institutional investors sought 28 per cent out of 270 crore shares earmarked for them.
Top gainers in the Sensex pack included Vedanta, ICICI Bank, ONGC, Kotak Bank, Axis Bank, SBI, M&M, Infosys, PowerGrid, HCL Tech, NTPC, Bajaj Finance and Reliance Industries, rising up to 2.72 per cent.
The crisis in Indian banking has now reached a point where the NPAs of many public-sector banks are higher than their net worth
'Inflation is not good for industry. Nor for the economy as a whole.'
Most adult Indians should have access to bank deposits, credit and remittance facilities as well as insurance and mutual fund products in the next decade, and technology will play a big role in this transformation, says Tamal Bandyopadhyay.
The cases under scanner include significant loan exposure of the bank to Videocon way back in 2012 and the alleged involvement of the Kochhar family in restructuring of that loan.
Apart from SBI, UPI 2.0 partner banks are HDFC Bank, Axis Bank, ICICI Bank, IDBI Bank, RBL Bank, YES Bank, Kotak Mahindra Bank, IndusInd Bank, Federal Bank and HSBC.
Financial services firm AnandRathi analysed the key points of the policy soon after it was announced.
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
Covering-up of pending short positions on expiry of the July derivatives contracts and a strengthening rupee propped up the markets at high levels
Collectively, the pack of 12 has posted a 50 per cent rise in profits -- Rs 25,685 crore. On a quarter-on-quarter basis (that is, September over June), the rise is 68 per cent. Public sector banks have never had such a stellar performance, explains Tamal Bandyopadhyay.
The blood bank was opened two months ago and so far about 40 dogs have benefited from it.
'I may not have accrued a large bank balance, but I think I've earned something far valuable. Respect.' 'That's what Andaz Apna Apna brought me, and I wouldn't exchange that respect for any amount of money in the world.'
Anup Roy and Krishna Kant on the challenges the public sector banks face in revitalising themselves
Yes Bank and Ola launched a mobile ATM service where customers of any bank can withdraw up to Rs 2,000 per card from PoS terminals
Rediff.com's A Ganesh Nadar takes a tour of banks in a Chennai suburb and finds that nothing has changed in one month since demonetisation.
Over the medium and long term, the BJP hopes to devour the AIADMK, they having identified the party as 'ideologically not as sound as the DMK', predicts N Sathiya Moorthy.
HCL Tech and ONGC were the top gainers in the Sensex, rising up to 3.40 per cent.
Market benchmark BSE Sensex declined over 247 points on Tuesday to close at 40,239 as heavy selling emerged mainly in power, oil & gas and IT stocks amid a strengthening rupee. Yes Bank was the biggest loser in the Sensex pack with 10.05 per cent fall, followed by PowerGrid, IndusInd Bank, NTPC, ITC, TCS, Axis Bank, Hero MotoCorp, M&M and HCL Tech, which lost up to 2.66 per cent. On the other hand, Bajaj Finance, HUL, HDFC Bank, ICICI Bank, and Bajaj Auto gained up to 1.06 per cent.
Recpaitalising banks through taxpayers' money will not solve the NPA problem.
DBS Bank India on Monday said customers of Lakshmi Vilas Bank, which has now been merged with it, can continue to access all banking services, and interest rates on savings and fixed deposits are unchanged as of now. Lakshmi Vilas Bank (LVB) has now been amalgamated with DBS Bank India Ltd (DBIL), the wholly-owned subsidiary of DBS Group Holdings Ltd, DBS Bank India said in a statement.
India's five leading wilful defaulters are Winsome Diamonds & Jewellery Ltd and associate Forever Precious Jewellery & Diamonds, Zoom Developers, Kingfisher Airlines, Beta Naphthol and Raza Textiles
Russian shipments averaged 1.67 million barrels per day in January compared to 1.48 million bpd in December and 1.53 million bpd a year earlier.
'By March-end, we should have closure of the PNC portfolio. After completion of PNC acquisition.'
Acceding to the demand of banks, the Reserve Bank of India on Friday deferred the date of implementation of the proposed base rate model to July 1 and also exempted three category of loans from the new system.
Jasprit Bumrah revealed that Mohammed Siraj has been bowling with a niggle and praised him for fighting through pain.
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Privatising public sector companies would have encountered significant opposition from their managers as well as from strong unions.
Advocate Abbad Ponda, his lawyer, said a person with low immunity is easily susceptible to catching coronavirus.
rediffGURU T S Khurana answers readers' personal income tax queries.
According to Merrill Lynch (BofA-ML) report, Domestic capital markets are likely to remain volatile in the September-November period due to factors like US Fed's policy action, second quarter corporate earnings and Bihar state elections.
Top laggards among the Sensex pack included Yes Bank, SBI, HDFC, Axis Bank, Kotak Bank, ITC, RIL, M&M, Tata Motors and ICICI Bank, losing up to 3.61 per cent.
Japan's Sony Corporation, which is merging its Indian television content company with Zee Entertainment Enterprises, is likely to seek a fresh forensic audit of the company after market regulator Sebi levelled fund diversion charges against Zee promoters, top lawyers said. The Sebi also barred Zee founder Subhash Chandra and its Chief Executive Officer (CEO) Puneet Goenka from holding any position as director. "As the Sebi has made fund diversion charges, which may change the nature of audited reports already filed, the acquirer (Sony) can seek a fresh forensic audit," said H P Ranina, a corporate lawyer.
'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?'
In the Sensex kitty on Wednesday, Tata Motors emerged as the top loser falling 3.01 per cent, followed by Vedanta shedding 2.92 per cent. Other laggards include HUL, Kotak Bank, NTPC, Infosys, HDFC Bank, Bajaj Finance, Hero MotoCorp, ICICI Bank, Yes Bank, HDFC, IndusInd Bank and PowerGrid, falling up to 1.77 per cent.
Why are DIIs holding such a high stake in Zee, which is beset with alleged governance issues? Perhaps they think Zee is a deep-value stock, observes Debashis Basu.
