Mallya is separately fighting extradition to India on fraud and money laundering charges worth an estimated Rs 9,000 crore
Agency sources said that besides Mallya, his companies Kingfisher Airlines and United Breweries Holdings Limited have been named as accused in the FIR.
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.
'We may bite the bullet and draw up plans for privatisation.' 'If that is done now, the sale of the government stake will fetch money; a delay will see erosion in whatever value is left in these banks,' says Tamal Bandyopadhyay.
If the interest rate on bank deposits is linked to any external benchmark, it would jeopardise the banks' fund-raising ability. Interest rates on small savings schemes are likely to be reduced very shortly, to maintain parity. All these steps would indeed affect retired people, and particularly those dependent on interest income, says Arindam Gupta.
Why doesn't anybody ask the PSU State Bank of India under RTI on how much they are spending on legal fees trying to recover money from me in the UK when I have offered 100 per cent payback in India, asked Mallya.
Banking shares are down up to 11% after the Reserve Bank of India has increased the policy repo rate by 25 basis points from 7.25% to 7.5% with immediate effect.
Referring to the government's Make in India initiative, he said India has become a hub of mobile phone manufacturing, which has provided employment to 4-5 lakh youth in the last four years and has helped the country save Rs 3 lakh crore foreign exchange.
The Central Bureau of Investigation has arrested an Reserve Bank of India official and a JDS leader K C Veerendra, who is also a casino owner, in connection with separate cases relating to alleged illegal conversion of currency post-demonetisation.
Individual banks should break away from the industry pact and have their own settlements with the unions, recommends Tamal Bandyopadhyay.
Piramal will join the JSW, Vedanta and Tata groups, which are bidding aggressively for distressed assets, especially in the infrastructure and steel sectors.
Banks have issues with their balance sheet profiles, say PSB executives.
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The rupee had earlier this month touched a life time low of 61.21 to a dollar.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Banks and insurers are beginning to reward customers who show exemplary conduct with lower prices and penalise those who behave poorly by imposing higher costs.
The agency noted that the reviews of these banks' sub-debt ratings were not indication of any change in the affected banks' fundamental credit quality.
The central bank has nine executive directors, and one of them -- S Karuppasamy -- retired recently. R Gandhi, who was executive director, has now been promoted to the post of deputy governor.
'It is never easy to run a campaign as a woman, particularly a minority woman, especially when you are bucking the establishment.' 'My entire campaign is an act of resistance.'
The post of chairman and managing director has been split and the government has appointed managing directors and chief executive officers in four banks -- Indian Overseas Bank, United Bank of India, Oriental Bank of Commerce and Vijaya Bank.
Officials of 17 banks which gave loan to Kingfisher Airlines and UB Group are also under the agency's scanner
While the formation of a holding company will not outright privatise State-owned banks, officials believe it will help the Centre deflect criticism arising out of the latest banking scams.
Banks have been struggling hard to recover dues from grounded Kingfisher Air.
The broader Nifty ended on top of 9,800 again.
India Inc is borrowing from global firms as interest rates sky rocket in India.
Bankers say there is palpable fear among erring promoters that the banking system just cannot be taken for granted, and any delay in loan repayment could mean promoters losing business
Close to 9 lakh registered companies are not filing annual returns with the ministry of corporate affairs and are a potential source of money laundering, Revenue Secretary Hasmukh Adhia said on Saturday.
Did you know that your home insurance covers valuables in bank locker?
BBPS allows you to pay electricity, telephone, water supply, gas and DTH bills. Its scope will be expanded to include other payments like school and university fees, government taxes, insurance premiums, mutual fund investments, even credit card bills.
Though most experts remain bullish on the banking space, they suggest investors buy only those banks whose NPAs are at a manageable level of 3% to 4% and there is credit growth or earnings visibility.
Analysts expect modest recovery in Indian economy.
As a multi-disciplinary organisation, SFIO probes cases of financial frauds that are referred to it by Corporate Affairs Ministry
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The cumulative loss of 20 state-run lenders stood at Rs 14,000 crore during Q4
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The time is ripe for a merger of eight fund houses indirectly owned and controlled by the central government, says N Sundaresha Subramanian.
'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.
Top corporates have paid more advance tax in second quarter this year.
Money managers have turned cautious about the technology space.
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