'It's a debatable topic, and we will submit our comments to the RBI by June 15.'
The Reserve Bank of India's decision to up commercial real estate property loan provision of banks may force the lenders to hike lending rates to the sector in the near term, said bankers.
Benefiting from higher credit off-take and loan repricing, listed commercial banks are expected to post 43.9 per cent year-on-year (YoY) growth in their net profit in the quarter ended June 30 (Q1FY24), analysts have said. Controlled credit costs due to a healthy asset quality profile and a steady treasury book will also support a strong bottom line for the lenders in the first quarter. However, net profit may shrink sequentially, according to analysts' estimates for 13 banks sourced from Bloomberg data.
Believe it or not, the regulator is even stretching its arm to identify stressed borrowers and gauge the 'distance to default' as a measure of a particular bank's fragility, reveals Tamal Bandyopadhyay.
Emily In Paris Season 4 offers more drama, high fashion, scandal and chaos to keep you entertained, observes Divya Nair.
Initial public offerings (IPOs) by start-ups are bringing cheer to investors and investment bankers alike. After food delivery company Zomato, Nykaa has issued the fattest pay cheque to the managers of its share sale -- Rs 148 crore, or 2.8 per cent of its issue proceeds of Rs 5,300 crore. In absolute terms, this is the second-highest amount paid to investment bankers for handling an IPO, while in percentage terms, it is the highest for large IPOs (>$300 million) in the last one year, shows an analysis of the data provided by Prime Database, a primary market tracker.
Sebi also plans to examine if any comments made by company officials or the bankers could have misled investors.
'There is no irrational exuberance when it comes to mainboard IPOs.' 'Most issues are by good quality businesses.'
In a bid to ease compliance towards companies planning public offers (IPOs), the Securities and Exchange Board of India (Sebi) has notified norms that open more avenues to meet the minimum promoters' contribution (MPC). The market regulator has permitted promoter group entities and non-individual shareholders to contribute to the mandated promoters' contribution in the case of a shortfall without being identified as a promoter.
The message is clear: The 60-year-old wise uncles need to handhold the 40-year-old entrepreneurs when, obsessed with ambition and greed for growth, they become a victim of hubris, points out Tamal Bandyopadhyay.
Why is the RBI harsh on Paytm Payments Bank? Why did it give Rana Kapoor of Yes Bank Ltd such a long rope?Often, it's a long investigation process, but the RBI doesn't discuss this openly since that can threaten financial sector stability, explains Tamal Bandyopadhyay.
Your promise to protect bankers for their commercial decisions is a huge confidence booster, but how does one define a commercial decision? Are our investigative agencies well equipped to dissect lending decisions of bankers?
With the government clearing the decks for direct listing at the Gujarat International Finance Tec-City (GIFT City) International Financial Services Centre (IFSC), issuers will wait for the ecosystem to develop further before firming up their listing plans. In the meantime, most companies may continue to prefer listing in the onshore market, even as the new avenue provides key benefits such as tax waivers and reduced foreign exchange risk. Sources said that a few key things need to be ironed out further.
PSB chiefs tried to argue that liquidity is in surplus in the system and the problem was related to lack of demand in the economy, instead of banks' reluctance to lend, but 'the FM said it is a perception issue that loan is not available, which we need to dispel,', reports Somesh Jha.
India's banking system is expected to remain unscathed from the troubles in Credit Suisse as it has a very small presence in the country, experts said. Although Credit Suisse is more relevant to India's financial system than Silicon Valley Bank (SVB), it has very limited operations, according to a report by Jefferies India. The Switzerland-based bank, the report said, "has less than Rs 20,000 crore in assets (12th among foreign banks), presence in the derivatives market and funded 60 per cent of assets from borrowings, of which 96 per cent are up to two months.
The comments come about a week after PSU bank employee unions went to a four-day relay strike to press for early revision of wages.
'The FSIB will conduct interviews for the SBI chairman position on May 21-22 as the tenure of the current chairman Dinesh Kumar Khara is scheduled to end by August.'
During a three-hour long virtual meeting with CEOs of large public and private sector banks along with heads of NBFCs, the prime minister assured them that the government is ready to take all steps to support the financial sector.
Bankers have decided to fight back against 'arbitrary arrests' and 'harassment' by probe agencies.
Sir Osborne Smith was the first governor of the Reserve Bank, serving from April 1, 1935, to June 30, 1937.
Bharatiya Janata Party leader Shaurya Doval has said he has never expressed desire to contest elections but is open to the idea if the party decides to field him.
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
'Today, bankers don't want to take risks as the good decisions taken by them were not protected.' 'There is risk involved in all decisions, like businessmen taking risks in their businesses.' 'A banker must have taken a decision when the economic condition was different, and you cannot question him on the basis of the present situation in hindsight.' 'Naturally, this has affected the morale of bankers.'
Public sector banks' cumulative profit crossed the Rs 1 lakh crore-mark in the financial year ended March 2023, with market leader State Bank of India (SBI) accounting for nearly half of the total earnings. From posting a total net loss of Rs 85,390 crore in 2017-18, the Public Sector Banks (PSBs) have come a long way as their profit touched Rs 1,04,649 crore in 2022-23, according to an analysis of their financial results. These 12 PSBs witnessed 57 per cent increase in total profit compared to Rs 66,539.98 crore earned in 2021-22.
Bonuses are typically commensurate with deal activity in any given year. Investment banks, on average, pocket 2-3 per cent as fees for managing an IPO and 1.5-2 per cent for handling QIPs.
With Rs 17,087 crore raised so far this calendar year, the total is already 2.4 times that of the full year of 2023, which stood at Rs 7,266 crore.
Soorma, a dashing six-footer, expressed gratitude towards his family for supporting his and wants to give them back by winning a medal at the Paris Paralympics.
'Confidentiality needs to be maintained.'
There was no smooth surge in middle class prosperity for foreign businesses to tap into because of the Indian economy was mismanaged, argues Debashis Basu.
Every defaulter is not a wilful defaulter who has the capability of paying back and is yet not servicing the bank loan, observes Tamal Bandyopadhyay.
In the first nine months of 2017, investment banks pocketed Rs 500 crore for helping companies raise Rs 30,853 crore through IPOs.
Sanyal, 57, had joined the Aam Aadmi Party after quitting her job as the country chief executive of Royal Bank of Scotland, and contested the Lok Sabha election in 2014.
Are you a first-time IPO investor? Even if IPOs appear attractive with expectations of high returns, they come with risks and complexities, cautions Sheetal Jhaveri and shares her checklist to help you navigate through the world of IPOs
Will the Financial Resolution and Deposit Insurance Bill endanger our bank deposits?
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.
Speaking at the Business Standard Banking Round Table in Mumbai on Monday, five of the six bank chiefs said 'no' when asked whether RBI should raise rates in the second quarter review of the monetary policy on October 25.
Rogue lending under political influence was rife in the Congress-led regime and is not happening in the Modi regime, certainly not on that scale. But if PSBs cannot lend as indiscriminately as they did last time in the name of 'credit expansion', how well will these banks do, asks Debashis Basu.
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
'After a long time, we have a governor who is approachable. The RBI's interactions with us are now much better.'
After being on the defensive for the last two years, global bankers are making their presence felt in Davos.
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