Before taking such loans, compare the interest rates charged by various players, advises Sanjay Kumar Singh.
Since January 2021, the inflation rate in health has stood in the range of 6.08-8.44 per cent.
State-run Bank of Baroda and Oriental Bank of Commerce are among those facing scrutiny.
A forensic probe has been ordered into alleged irregularities by the department of financial services.
The biggest headwind to the consumption story in FY23 is a sharp decline in government subsidies on food, fertiliser and fuel, and overall decline in revenue expenditure net of interest payments. This, analysts say, will adversely impact purchasing power of households at the lower end of the income pyramid, translating into lower spending on consumer goods and services.
However, it may still not change its stance on the policy rate as inflationary pressures are coming from high commodity prices.
The finance ministry on Wednesday allowed all private sector banks to participate in government-related business, like collection of taxes. pension payments and small savings schemes. At the moment, only few large private sector are allowed to conduct government-related business.
Fit-again India all-rounder Hardik Pandya is attempting to make his comeback by taking part in the D Y Patil T20 tournament, starting in Mumbai, on Monday. Shikhar Dhawan and Bhuvneshwar Kumar are also on their road to recovery after sustaining injuries.
The Bank has a total staff strength of over 36,000. The bank had opened 11 new branches abroad and 125 domestically, in 2007-08. At present, it has 74 branches abroad in 25 countries.
For the fiscal ended 2021, the group has made a loss of Rs 5,943 crore on sales of Rs 11,723 crore, a drop of 66 per cent over fiscal 2020. The group's total debt was up by 7 per cent to Rs 20,742 crore.
Hardik suffered an acute lower back injury five months ago and underwent a surgery in London, following which he has been rehabilitating at the National Cricket Academy in Bengaluru. Hardik Pandya hit four towering sixes and ran swiftly between the wickets at the DY Patil T20 Cup as chief selector MSK Prasad closely monitored his fitness.
"We remain positive on the outlook for the emerging market (EM) equities. Although this asset class is entering its sixth year of outperformance compared with the world equities, valuations are not yet expensive on a historic and relative basis, especially in the light of a much higher growth potential at the earnings level," says Angus Stening.
Emerging markets such as India have always run higher inflation rates than developed economies such as the US and countries of Western Europe. But for the first time in the past 30 years, the US reported a higher consumer price inflation (CPI) rate than India in five consecutive months. The US reported a CPI rate of 7.5 per cent in January 2022 against 6.01 per cent in India and analysts expect the trend to continue for at least a few months more
The branch managers have come out of their glass cabins and the sellers' market has transformed into a buyers' market, but there is no end to the harassment of customers, asserts Tamal Bandyopadhyay.
Amendments would be required in the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 for privatisation, sources said.
If the banks throw caution to the winds for building loan books, the hydra-headed bad loans may resurface and spoil the party, warns Tamal Bandyopadhyay.
Why are investors gung-ho about State Bank? asks Tamal Bandyopadhyay.
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.
A new wave of e-trading in partnerships with private broking houses is getting popular with banks in recent times.
The amount you can raise via a gold loan is higher than you can get via a personal loan.
Armed with court order, a consortium of lenders led by SBI can now sell certain real estate properties and securities belonging to fugitive Vijay Mallya to recover loans turned bad with failure of Kingfisher Airlines. A consortium of 11 banks that gave Mallya loans, led by State Bank of India (SBI), had approached a special Prevention of Money Laundering Act (PMLA) court seeking restoration of his properties seized by the Enforcement Directorate. The special PMLA court in Mumbai on Tuesday allowed the restoration of properties worth Rs 5,646.54 crore to banks.
Six nationalised banks, including Canara Bank and Bank of Baroda, on Wednesday signed an agreement with Indian Railways for setting up more than 700 ATMs at railway stations across the country.
Loans for Indian airlines have dried up as banks have become cautious to lend to the sector.
The Reserve Bank on Monday superseded the boards of Srei Infrastructure Finance as well as Srei Equipment Finance, citing concerns over governance and payment defaults, and decided to refer the two NBFCs for resolution under the insolvency law. This is only the second time in as many years that the Reserve Bank of India (RBI) is referring entities for the resolution process under the Insolvency and Bankruptcy Code (IBC) after taking first ever such step in the case of DHFL back in 2019. Superseding the boards of the crisis-hit Srei Infrastructure Finance Limited (SIFL) and Srei Equipment Finance Limited (SEFL), the RBI has appointed Rajneesh Sharma, former Chief General Manager of Bank of Baroda as the administrator to manage the affairs of the two companies.
The interest rate offered by PSBs like SBI, BoB and BoI hover around 8.9 per cent-10.50 per cent. For private banks, the range is between 10.49 per cent and 12 per cent.
Only BoB is making noise about customers and customer service
The Commission observed vulnerability of junior untrained staff on probation and their misuse by senior officials.
The amounts were transferred from HDFC Bank to BoB.
Since its launch in April, helpline 155260 has been able to prevent more than Rs 18.5 million of defrauded money from reaching the hands of fraudsters.
This is part of the first batch of Supplementary Demands for Grants for 2020-21 moved by Finance Minister Nirmala Sitharaman in the Lok Sabha.
Sidbi acquires Ahmedabad-based start-up at hefty premium; founders deny link to govt.
Kamalesh Chandra Chakrabarty has joined Punjab National Bank as its executive director and K Ramakrishnan has taken over as executive director of Bank of Baroda.
Not all public sector banks are back in the black, but their collective net profit for the year is Rs 32,346 crore against a Rs 9,013 crore loss in the previous year, points out Tamal Bandyopadhyay.
State Bank of India reported 544 cases of such frauds that caused a loss of Rs 191,295 lakh
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
We'll need to wait a couple of years to see how many restructured loans turn bad and whether some banks fall victim to their obsession for growth, explains Tamal Bandyopadhyay.
MCA blamed its financial troubles on non-receipt of payments from the Board of Control for Cricket in India for the last 10 months.
