With a potential liability of Rs 750-800 crore, sources say Clix Capital's stand on the matter would be crucial in finalising the merger valuation.
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The minister, who will also be meeting foreign institutional investors whose money is key to funding CAD in the afternoon, did not speak to reporters waiting outside.
It is difficult to say if the banking sector will see the worst behind it by March 2020, warns Tamal Bandyopadhyay.
The Reserve Bank of India does not have any estimate of alleged illegal gold transactions going on in the country, according an RTI reply.
A large part of the accretion to fixed deposits till March 16, 2007 was on account of a flight of funds from the low-cost CASA.
Nirma has roped in BCG and KPMG to advise it on the fundraising options for the acquisition. The company had earlier informed banks that it would raise Rs 5,000 crore to Rs 7,000 crore in the current financial year for the acquisition. Bankers said the company will rely on its funds and future GLS dividend to repay its debt for acquisition.
They have cited higher capital for bad-loan provisioning, pending legislative amendments, and delay in finalising rules by the Reserve Bank of India (RBI) as some of the reasons.
Bankers are worried the new model will affect their business of giving short-term loans to corporate clients at cheaper rates (sub-PLR loans) as lending rates on such loans will go up at least by 2 per cent in the base rate system.
In March this year, he quit to start his own firm for equity syndication to cater to small and medium enterprises in smaller towns. Huzefa Sitabkhan, who was working with one of the domestic investment banks (i-banks), left to start PNR Consulting, an advisory and consultancy firm for equity and debt syndication for SMEs.
Gaurav Mehta, one of 100 'Young Global Leaders', is tapping entrepreneurs inside rural Indians.
Pakistan's late military ruler Zia-ul-Haq's son has served a legal notice on a banker, who is at the centre of a scandal over the funding of politicians by the Inter-Services Intelligence in 1990, for claiming that he gave millions of rupees to his family.
Eleven companies have launched their initial public offerings (IPOs) in December 2023, making this month the second-best December for public offerings since 1996. Collectively, they are raising Rs 8,182.7 crore this month. In December 2021, 11 companies raised Rs 9,534 crore. However, excluding December 2021, this month marks the best December for IPOs since 1996.
Banks operating in India reported fraud of Rs 4.92 trillion as on March 31, 2021, which represents nearly 4.5 per cent of the total bank credit, showed Reserve Bank of India (RBI) data, which was sought under the Right to Information (RTI) Act by Saurabh Pandhare. The data showed 90 banks and financial institutions reported a total of 45,613 cases of loan fraud till March 31, 2021. State Bank of India - the country's largest lender - reported the highest amount of loans as fraud - Rs 78,072 crore as on March 31, 2021.
Commercial banks have not yet reduced their lending rates.
Debit card payments remained sluggish due to the surge in digital transactions after the pandemic, and the Unified Payments Interface (UPI) has emerged as the most popular mode of money transfer, particularly for small value transactions, according to RBI data. In July 2020, the total debit card spends stood at Rs 2.81 trillion, as compared to Rs 3.15 trillion in July 2023, reflecting a growth of 11.96 per cent. UPI spends have seen a whopping growth of 428 per cent, zooming from Rs 2.90 trillion to Rs 15.33 trillion during the same period, the data revealed.
Despite sanctioning the loans, bankers are worried whether to disburse the loan because of absence of an investment grade rating.
India's outward Foreign Direct Investment (FDI) nosedived to $11.12 billion in January-June (H1 2023) from $23.57 billion in the same period last year, indicative of the slowdown in the global economy, according to the Reserve Bank of India (RBI) data. The outward FDI expressed as the total financial commitment, has three components, namely equity, loan and guarantees. The sharp contraction in the commitments (outward FDI) was prominent in the April-June 2023 period.
'If supply of cash is not sufficient from the RBI, it may create difficulty for both banks and people.'
Bankers have been criticised for not passing the benefits of rate cuts
Group firms working on sound footing
The yen may have depreciated to 110 against the dollar from a high of 96 earlier this year, but bankers are advising extreme caution in using the Japanese currency for raising resources and hedging risks.
The problem here is that internal auditors are good at accounts, but they are not trained to track foreign exchange transactions
While Dhanlaxmi Bank faces governance issues similar to those in Lakshmi Vilas Bank, the financial profile of the Kerala-based bank is better.
The RBI governor's assurance should give investors enough confidence to start believing in the NBFC sector again, say bankers.
Say 30 days not enough to resolve stress; want higher provision norms deferred till economy picks up
'The CEO will neither be able to guide the senior team in operational matters nor decide on their appointment, compensation or removal.' 'Yet, the CEO is responsible for the profit and loss of the bank!' 'Why would the senior executives listen to him?' 'Which self-respecting professional would want to be a CEO with these constraints?' asks Tamal Bandyopadhyay.
Deepak Gupta grows chemical-free food and wants farmers to go back to the practices they once knew but have forgotten, says Aditi Phadnis.
HDFC Bank is on a global search to find a successor to the founding-chief executive Aditya Puri, as he would turn 70 next year.
Reflecting subdued global economic growth, India's outward foreign direct investment (FDI) fell by 33.3 per cent sequentially to $1.21 billion in August, compared to over $1.82 billion in July.
What will be its impact on the banks's balance sheets? Since banks need to provide for 10 per cent of the loans restructured, they would need Rs 50,000 crores to Rs 80,000 crore for this purpose, notes Tamal Bandyopadhyay.
A seasoned banker with over 30 years of experience, Bakhshi is a mechanical engineer from Punjab Engineering College, Chandigarh. He has a post-graduate degree in management from Xavier Labour Relations Institute.
Rajan, as expected, furthered his predecessors' agenda and continued with the same resolution to make India's financial system safer, and direct the economy towards further liberalisation
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.
Banks seems to be upset over RBI's move over rate cut.
Share rises further to 73 per cent from 66 per cent last year; Some overseas i-banks seen scaling down operations
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