'The Insolvency and Bankruptcy Code is neither beneficial to banks nor helpful for the borrower.' 'Genuine people who are caught in economic stagnation will lose everything and thousands will lose jobs.'
The banks provided the 'living wills' road maps that were requested by US regulators to help the banks' liquidation in a financial crisis.
Byju's, India's most-valued startup, has decided to put two of its key assets -- Epic and Great Learning -- on the block to generate $800 million-$1 billion in cash, with an aim to meet the edtech firm's various commitments, including repaying the entire $1.2 billion term loan B (TLB) within six months, according to sources. The cash-strapped company has proposed repaying $300 million of the $1.2 billion loan in the next three months, depending on whether the lenders accept Byju's amendment proposal, said the people familiar with the development. "This loan repayment proposal has been submitted to the lenders and conversations are going in the right direction," said a person in the know.
Both Europe and the US can learn a lesson from American history to overcome their debt problems.
The Pandays aka The Travelling Family are making a trip around the world. Three days spent in the Amazon were unforgettable.
Aditi Ashok has risen to 15th on the LPGA's Race to CME Globe and could well go better than career-best 48th in world rankings.
Pruthviraj Kandepi, who hailed from Guntur district of Andhra Pradesh, was killed in the shootout.
Consolidation will help banks derive economies of scale, but integration will not be easy.
Banks' loans are set to grow at the slowest pace in a decade this financial year, as companies continue to shy away from borrowing in the current uncertain macro-economic environment.
The financial services industry, especially banking, is in the midst of massive upgrade of existing IT set ups to cope with future regulatory and customer-driven online and mobile services, said Vijay Sharma, vice president & head domain & industry advisory services for banking, financial services and insurance.
As India's stock rises, the resolution of the border row may become even more difficult, warn Harsh V Pant and Kalpit Mankikar.
Beginning in 1990, Japan suffered a collapse in real estate and stock market prices that pushed major banks into insolvency
'Israel has received an extremely hard and rude reminder that it cannot go ahead and talk of normalisation of relations with other Arab countries without addressing the issues pertaining to Palestine.'
Amidst global private equity investment firms making a beeline for India and the growing dominance of PE players in the M&A deals executed by India Inc, US-based banking giant Bank of America has pulled curtains on its private equity division in Mumb
It is believed that the new draft guidelines will encourage foreign banks to acquire stakes in Indian banks.
Further, as a part of its continued expansion plan across Latin America, TCS has set up its delivery centre in Argentina. This is the eighth centre for the company in the region at a cost of $2 million (around Rs 10 crore). The centre, spread over 10,000 square metres, will initially employ 250 professionals, but has the capacity to house 1,000 people.
The Reserve Bank on Monday asked banks to put in place additional arrangements for export and import transactions in Indian rupees in view of increasing interest of the global trading community in the domestic currency. Before putting in place this mechanism, banks will require prior approval from the Foreign Exchange Department of the Reserve Bank of India (RBI), the central bank said in a circular. "In order to promote growth of global trade with emphasis on exports from India and to support the increasing interest of global trading community in INR, it has been decided to put in place an additional arrangement for invoicing, payment, and settlement of exports / imports in INR," it said.
While rate cuts may increase churn between banks, these may not boost credit offtake meaningfully.
Brand India's societal divisions and distortions have remained as much relevant in 'liberal' America and Europe as it still is in the structurally stratified Indian society of the 21st century, observes N Sathiya Moorthy.
India CEOs of 12 banks form pressure group within IBA.
India should be wary of Pakistan, Yashwant Sinha, senior leader of the Bharatiya Janata Party, tells Aasha Khosa.
Analysts believe that new companies getting into banking space will look at acquiring old private banks. Following this view, there has been a significant rally in banking stocks.
'Society deals with you the way they do, or forms an opinion, depending on if your family is with you every step of the way.'
There are concerns that his arrest and arraignment could bring with it a repeat of the kind of violence and protest seen during the January 6, 2021 attack on the US Capitol building by pro-Trump rioters in the aftermath of the 2020 presidential election that Trump lost to Joe Biden.
The existing SAARC Development Fund could be merged into the bank.
Indian banks are the 2nd-fastest-growing ones.
India witnessed a 12 per cent year-on-year (YoY) jump in total household wealth last year, at $14,225 billion, according to the Global Wealth Report 2022 by Credit Suisse. The report also forecasts the number of millionaires in the country to more than double from 796,000 in 2021 to 1.6 million in 2026. According to the report, which is based on data for the wealth holdings of 5.3 billion adults across nearly 200 countries, global household wealth rose 9.8 per cent in 2021 to $463.6 trillion, driven by widespread gains in share prices and a favourable environment created by central bank policies in 2020 to lower interest rates but at the cost of inflationary pressure.
Share rises further to 73 per cent from 66 per cent last year; Some overseas i-banks seen scaling down operations
Sundararaman Ramamurthy has been an interesting choice for the publicly-listed BSE, which has seen its chief move to bigger rival -- the National Stock Exchange (NSE) -- in July. Having spent nearly two decades at the country's largest bourse, Ramamurthy is among the early architects of NSE and understands all the cogs of the exchange wheel like only a few others in the country. Just like NSE's core team, which includes its founder RH Patil, the 59-year-old Ramamurthy has worked at the Industrial Development Bank of India (IDBI) before moving to NSE in 1995.
The Trump Organisation has a secret server registered to Trump Tower that has been covertly communicating with a Russian bank, a media report said, in the latest allegation of questionable links between Donald Trump and Russia just a week ahead of the presidential polls.
A raft of banks could face tough questions in the sweeping US crackdown on alleged corruption in global soccer as prosecutors review how much they knew about millions of dollars in bribes flowing through the US banking system to accounts around the world.
The CBI has registered 11 cases against cyber criminals involved in financial fraud using the internet and the agency conducted searches at 87 locations while 28 locations were raided by the state police forces, they said.
The price range and size are yet to be determined, according to the term sheet, which also did not specify the timeframe.
'Every time a new tech comes in, there are a set of people who will predict that this will be the end of Indian IT and every time the Indian IT industry and overall technology providers have proven to be resilient.'
Canara Bank, celebrating its centenary year, is eyeing operations in South Africa, north America and the Middle-East as part of its overseas expansion plans, its chairman and managing director M B N Rao said on Thursday.
Shaktikanta Das is a master of the finest balancing act who listens to all but takes his own decisions, discovers Tamal Bandyopadhyay.
There was a time when experts, analysts, rating agencies found it very easy to describe the best banks.
Broking firm Jefferies says Indian financial system is now flooded with the kind of liquidity witnessed in 2005-07 and 2009-10
Abheek Barua & Bidisha Ganguly explain why the US treasury should intervene if the overvalued greenback continues to rise.
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