Ananthasubramanian, 55, started her career in 1982 at Bank of Baroda as a specialist officer in the planning stream.
NPA problem to continue for next 2-3 quarters: banks to FinMin
Growth rate in per capita income is projected to fall to the lowest in 21 years this financial year - except for the financial years 2019-20 (FY20) and 2020-21 (FY21) - according to the first advance estimates. During the last 21 years, the two periods - FY20 and FY21 - saw growth rates in per capita income lower than 7.9 per cent, seen during FY24. This was despite the real gross domestic product (GDP) being projected to grow by 7.3 per cent in the current financial year by the first advance estimates.
Bond markets, global as well as domestic, are likely headed towards hard times over the next three to six months, as higher vegetable prices, rising fuel costs, and improved wages may keep inflation hot, believe analysts, who expect the yields to hit 7.5 per cent in the near-term from the current 7.234 per cent. In this backdrop, they suggest investors can put in money in funds/instruments with residual maturity of 4 to 6 years, while longer-term investors can allocate cautiously to the longer end in the range beyond 7 years.
Banks were the frontrunners on the bourses early today as investors were deeming their valuations offered a chance for appreciation. \n\n
Banking PSU stocks made a brave comeback on Monday after succumbing to losses Friday following the Union Budget's ignoring a long-standing demand by the sector on FDI limits.
Vikram Kothari took a loan of Rs 485 crore from Mumbai-based Union Bank of India and a loan of Rs 352 crore from Kolkata-based Allahabad Bank. A year later, Kothari has reportedly not paid back either the interest or the loan.
Despite the objections raised by Reserve Bank of India and Election Commission, India's politics has been funded anonymously and it is time to end this, asserts Aakar Patel.
In India, it is not easy to fight it out with the large banks which are nimble-footed and technology-savvy and are continuously innovating on the retail turf with newer products for customer acquisition.
The meeting will review annual financial performance of public sector banks, credit offtake in the economy, priority sector lending and progress made under various social sector schemes, including Atal Pension Yojana (APY) and Pradhan Mantri Jan Dhan Yojana.
A top-class board is important from a systemic point of view, more so at a time when the wider financial world and India Inc is chasing the same talent as banks.
Of the total, the financial creditors - banks, bond holders and other financial institutions - have claimed Rs 86,892 crore.
Punjab National Bank, Bank of Baroda, Bank of India and Canara Bank already charge their customers a levy for failing to maintain a minimum balance for a quarter or a month.
Bank stocks took a hammering today as the Centre said it was not in its policy to take back its equity from public sector banks at par value.
Between April and August, it issued request seeking LoC against 147 individuals to prevent them from leaving the country, the bank said in response to a Right to Information query filed by Pune-based activist Vihar Durve.
The broader NSE Nifty reclaimed the key 10,000-mark and touched a high of 10,143.50 before finally settling at 10,130.65
Some of the public banks showed improvement; much more still needs to be done
The financial position of India's public sector banks (PSBs) has deteriorated sharply over the past financial year.
What connects P S Jayakumar of Bank of Baroda, V Vaidyanathan of Capital First Ltd and Chandra Shekhar Ghosh of Bandhan?
The recapitalisation, the finance minister said, will enhance the lending capacity of state-owned banks and help them come out of RBI's Prompt Corrective Action framework.
'We can't have the best of both worlds -- large, efficient, world class government-owned banks, doing social banking and making profits. 'Why not set them free from the shackles of such obligations and run them as business units?' says Tamal Bandyopadhyay.
The Reserve Bank is likely to maintain status-quo on the key interest rates for the third time in a row in its upcoming bi-monthly policy review despite the US Federal Reserve and the European Central Bank hiking benchmark rates, as domestic inflation is within the RBI's comfort zone, say experts. The borrowing cost which started rising in May last year has stabilised with RBI keeping the repo rate unchanged at 6.5 per cent since February when it was raised from 6.25 per cent. In the previous two bi-monthly policy reviews in April and June the benchmark rate was retained.
New investment projects announced in the manufacturing sector declined in the three months ended June 2023. The value of new projects was lower than in the March quarter, as well as the year-ago period, shows data from project tracker the Centre for Monitoring Indian Economy (CMIE). The new project announcements worth around Rs 85,000 crore in the manufacturing segment in June were a 48 per cent decline from the Rs 1.6 trillion in March and a 66 per cent decline from the Rs 2.5 trillion seen in June 2022.
Amul's move is being seen by many, especially opposition parties, as a threat to KMF's famed dairy brand 'Nandini'.
The mergers will not involve any cash but only share swaps
The government-appointed Satyam board had recently said that it secured Rs 600-crore (Rs 6-billion) bank loans, which would help it fulfil its immediate fund requirements. The lender's board, which met on January 23 to take a call on the IHFL sale, had deferred the decision, citing the need for more information about prospective buyers.
The meeting is expected to chart a road map for cleaning up their balance sheets and boost credit flows, reports Somesh Jha.
The Reserve Bank of India (RBI) will maintain the policy repo rate at 6.5 per cent during its upcoming June 8 announcement, considering the easing of retail inflation in April and the potential for further decline, indicating the effectiveness of previous policy rate actions, anticipate experts. Headed by Reserve Bank Governor Shaktikanta Das, a meeting of the six-member Monetary Policy Committee (MPC) is scheduled for June 6-8. The decision of the 43rd meeting of the MPC would be announced on Thursday, June 8.
Agency sources said that besides Mallya, his companies Kingfisher Airlines and United Breweries Holdings Limited have been named as accused in the FIR.
The broader Nifty ended on top of 9,800 again.
PSU bank stocks are witnessing hectic activity these days and are now among the top traded stocks on the bourses.
Shares of Adani group firms have faced heavy drubbing since Tuesday's close last week, after US-based short seller Hindenburg Research made damaging allegations against the conglomerate. Most of the group firms fell for the third day running on Monday. Since Tuesday's close last week, shares of Adani Transmission have tumbled 41.66 per cent, Adani Total Gas tanked 39.57 per cent, Adani Green Energy declined 37.55 per cent and Adani Ports fell 23.75 per cent on the BSE.
'There are occasions when the prices of individual items like food raise inflation; then supply-side measures must be taken.' 'But if there is continued inflation, it means liquidity is aggravating the situation.'
As per the mega consolidation plan, Oriental Bank of Commerce and United Bank of India will merge into Punjab National Bank (PNB); Syndicate Bank into Canara Bank; Andhra Bank and Corporation Bank into Union Bank of India; and Allahabad Bank into Indian Bank. Following this merger, PNB will become second largest after the SBI, Canara Bank fourth, Union Bank of India fifth and Indian Bank seventh biggest public sector lender.
Top corporates have paid more advance tax in second quarter this year.
Talking about home loan rates, there is good news for borrowers.
PSU bank stocks held the market's attention in morning trades on Tuesday as there's much anticipation that the Union Budget for 2003-04 may bring about the raising of foreign holding ceiling in these banks.
Did you know that your home insurance covers valuables in bank locker?
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