The Central Bureau of Investigation has started a preliminary enquiry looking into the Rs 950 crore (Rs 9.5 billion) alleged bad loan given by IDBI Bank to Kingfisher Airlines ignoring the company's negative credit ratings and net worth.
The repo rate has been unchanged since January, when the RBI increased it by a quarter percentage point.
The banking sector's credibility is on thin ice. Unless the government takes strict steps, things could get worse.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers's queries on stocks they own or want to buy.
Markets crashed due to domestic worries; bluechip stocks tanked too.
Raghuram Rajan's 'surgery' uncovers more bad loans
Banks want lower provisioning burden on recast debt, interest on cash reserve ratio deposits.
Only six sectors are likely to report good set of numbers in Q4 FY15.
ICICI Bank extended yesterday gains, rising 10% in two trading sessions
Group policies are more suitable for diabetics; these are negotiable & flexible.
The S&P BSE Sensex plunged 301 points to close at 25,490 and the Nifty50 fell 86 points to end at 7,815.
Nifty 50 firms' net profit estimated to grow by a modest 3.1% in Q2, reports Krishna Kant.
Through the past 12 months, the Bank Nifty has risen 55%
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' queries on stocks they own or want to buy.
Apart from streamlining loan processing, most public sector banks charge lower interest rate, an aspect which seems to be game changer.
Vijay Mallya on Wednesday gave a proposal to the Supreme Court to repay around Rs 4,000 crore (Rs 40 billion) loan to banks by September this year.
SBI leads a 17-member consortium of lenders that is trying to recover dues running into over Rs 7,500 crore (Rs 75 billion) in principal alone from Kingfisher Airlines.
The committee's suggestion that existing commercial banks be allowed to hold payment banks as subsidiaries is also seen as unviable by RBI and the finance ministry.
Prabhu-led advisory group also suggests JVs with mining and infra firms.
In a proposal to FinMin, the Banks Board Bureau suggests asset sales to PSUs within a deadline to recover bad loans.
A decline in the real estate sector, rising debt and the company's alleged involvement in 2G scam caused damage to the business and its image.
The finance ministry is working on a Cabinet note for establishing a full-fledged Public Debt Management Office, officials told Business Standard.
Banks have taken this aggressive posture even as liquidity has become comfortable on the back of increased government spending.
The fuel reforms are a very important signal of the government's commitment to tough economic reforms.
The RBI cut rates for third time in 2015 due to favourable economic conditions.
23 Nifty companies reported an annual decline in net profit.
The estimated cost breakdown is one of the most important forms in the construction loan package.
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.
While Modi must worry about the electoral backlash of bailing out state-owned banks, China's communist rulers face fewer constraints.
On Tuesday, Finance Minister P Chidambaram had more than adequately made clear that the government would be allocating Rs 14,000 crore through Budget, the Financial Services Secretary said.
Enforcement Directorate is jointly probing the case.
The CBI has shared its findings with the Enforcement Directorate.
Banks are in need of government support to manage the stressed assets
Market breadth continued to remain strong, with 1899 gainers and 674 losers on the BSEs.
Bankers said the mammoth task of cleaning up the PSBs and improving their health will be a mammoth task for any chief executive.
The Bank of Japan's action has nullified the effects of the end of the US' quantitative easing programme but the dependence of foreign institutional investors remains a concern
Reserve Bank Governor Raghuram Rajan is widely expected to hold the key rates citing high inflation at the fourth bi-monthly monetary policy announcement on Tuesday, even though the pro-growth lobby has been wishing for a rate cut.
Most of the index heavyweights are yet to declare their results.
India's state banks are under pressure to improve profitability.
The rally followed the govt's plan to bolster state-owned lenders.
