As a multi-disciplinary organisation, SFIO probes cases of financial frauds that are referred to it by Corporate Affairs Ministry
Analysts say there is still no visibility of earnings improvement.
Reliance Industries (RIL) is likely to be the lone bidder for Mangalore-based JBF Petrochemicals, which is up for sale after defaulting on bank loans worth Rs 5,000 crore. The lenders for the second time extended the deadline for submission of bids, which had ended on August 20, as several players, including public sector companies, were redrawing their acquisition plans, said people in the know. "There were several companies which had submitted their expressions of interest (EoIs) for the company but after due diligence decided to exit the race," said a source close to the development. "The new deadline for submitting financial offers is August-end," the source said.
The total quantum of non-performing assets in the Indian banking system increased to Rs 7.33 trillion as of June 2017, from Rs 2.75 trillion in March 2015.
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.
SBI, which has been operating in the UK for 95 years, said it is prepared to set aside 100 million pounds in ring-fenced capital and restructure its operations if that is necessary to keep operating on the high streets.
The recent three-bank merger seems to be grossly negative for Vijaya Bank and Bank of Baroda in the short term, as the negative net worth of Dena Bank will have to be absorbed by the merged entity
Shri Ram Janmabhoomi Teerth Kshetra secretary Champat Rai said people from all communities have generously donated for the construction of the temple.
The cumulative loss of 20 state-run lenders stood at Rs 14,000 crore during Q4
Shares of rate-sensitive realty, bank and auto sectors were on buyer's radar on Wednesday.
Banks are in need of government support to manage the stressed assets
Despite the rating agency CARE withdrawing the ratings assigned to the bank facilities of FIPL "with immediate effect" following the receipt of a no-objection certificate (NOC) from the banks, Modi's company received uninterrupted letters of undertaking (LoUs) from PNB, which were honoured by other banks until a few weeks ago.
The Reserve Bank's rate-setting panel will start its 3-day deliberations on Wednesday amid expectations of yet another rate hike of 50 basis points to check high inflation, in line with similar actions taken by other major central banks, including the US Fed. Based on the recommendations of the Monetary Policy Committee (MPC), the RBI had effected 50 basis points increase in repo rate each in June and August after raising the short-term lending rate by 40 basis points in an off-cycle decision in May. The MPC, headed by RBI Governor Shaktikanta Das, is scheduled to meet during September 28-30.
Bankers seem to be pleased with the government for keeping its promise of not interfering in operational matters, but are apprehensive about the intense scrutiny of their functioning.
The banking sector's credibility is on thin ice. Unless the government takes strict steps, things could get worse.
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.
The finance ministry on Thursday raised concerns over the possible impact of El Nio conditions on India this year, saying if recent forecasts came true, the country could see lower agricultural output and higher inflation. "Some meteorological agencies predict the return of El Nio conditions in India this year. "If these predictions are accurate, then monsoon rains could be deficient, leading to lower agricultural output and higher prices," the ministry said in its monthly economic review.
Given that it is only a temporary breather for PSBs, the government now needs to look at the harder options.
This is following revival of demand from the corporate sector and small and medium enterprises (SMEs), even as a nascent economic recovery is taking shape. Credit growth of scheduled commercial banks had accelerated to 9.2 per cent year-on-year (YoY) by the end of December 2021 after breaching the 7 per cent-mark in November, for the first time since April 2020.
The government has changed the criteria for infusion of capital.
'If private capex has to kick in, there should at least be 2-3 years of visibility.'
Analysts say loan growth, Casa ratio and exposure to sectors under pressure did not indicate any stress at United Bank.
While the first three parts of the operation, codenamed 'Red Spider', dealt with Indian banks (both private and state-run), the fourth part targeted a couple of foreign banks.
Top corporates have paid more advance tax in second quarter this year.
According to RBI sources, some banks had extended credit to existing borrowers to repay their debt, known as evergreening of loans in banking parlance.
There is a huge gap in service charges on other factors such as penalty on cheque return.
Finance Minister Arun Jaitley said the magnitude of the alleged black money transfer through state-owned BoB will only be known after completion of the multi-disciplinary probe.
The Garhwal region collectively has deposits worth Rs 2,100 crore and advances worth Rs 1,000 crore.
Finance Minister Arun Jaitley on Sunday said the government is planning to bring down its stake in public sector banks to 52 per cent so as to meet Rs 3 lakh crore capital requirement.
Nifty saw the biggest weekly gain since the first week of September and comfortably maintained its crucial 8250 levels in today's session
Govt renews search for five PSU bank chiefs; norms relaxed.
Days after the US Fed raised the interest rate, the RBI may go in for its third consecutive policy rate hike by at least 35 basis points to check high retail inflation, experts said. The central bank has already announced to gradually withdraw its accommodative monetary policy stance. The Reserve Bank of India's rate-setting panel -- the Monetary Policy Committee -- will meet for three days from August 3 to deliberate on the prevailing economic situation and announce its bi-monthly review on Friday.
'I find the RBI edict to the Kotak Mahindra Bank to reduce Uday Kotak's shareholding very unreasonable,' says Sudhir Bisht.
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.
While its deposits from Iran accounts have come down from a peak of around Rs 25,000 crore to Rs 2,200 crore, it's been offset by the bank receiving almost Rs 24,000 crore in deposits post note ban.
The RBI also looked into the effectiveness of systems and processes for implementation of KYC norms
The order grants permission to the UK High Court Enforcement Officer to enter the 62-year-old tycoon's properties in Hertfordshire, near London.
Fresh buying by domestic institutional investors and better-than-expected June quarter results from some blue-chip companies boosted investor sentiment
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