The overarching talking point will be the reluctance on the part of private banks to loosen their purse strings and increase lending substantially, even as the central bank believes there is adequate liquidity within the system.
Business is down to such an extent that last year these firms could not even meet RBI's capital norm of Rs 50 million for partnerships and Rs 100 million for public and private firms in this line of business.
Foreign flows into Indian equities are expected to pause in the short to medium term, say analysts. The outlook is influenced by multiple factors, including rising oil prices, actions from global central banks, climbing bond yields, and the dollar index gaining prominence. "Valuations appear rich with the markets at record highs.
K V Kamath to take charge of BRICS Bank in July.
The Securities and Exchange Board of India (Sebi) has cleared the draft red herring prospectus (DRHP) of the state-owned Life Insurance Corporation of India (LIC). According to investment banking sources, the so-called final observations were issued by the market regulator on Tuesday evening. Following the market regulator's nod to the IPO papers, the insurer can launch its share sale. However, LIC may not launch its IPO immediately given the current volatile market conditions.
Prefer proposal for airline to float bonds guaranteed by govt.
"I have no personal grudge against Ravinder Reddy, the rural bank manager. It was an unfortunate incident. The truth would come out later. However, I tender unconditional apology to him and bankers to put an end to this. I don't want to put the people to inconvenience due to the bank union's agitation," Jagannath told reporters in Delhi.
'Sell part of your portfolio where you're making good money, especially in small caps and mid caps.' 'The money which you take home is yours. The money which is there on paper is not yours.
"Large-scale corruption is being alleged in schemes being executed through banks... the top authorities must take the matter seriously and help curb corruption," Kumar said while addressing the meeting of the State Level Bankers' Committee (SLBC).
Do you save more money if you use bank portals for online shopping?
In addition to the problem of long queues at automated teller machines, there would be the problem of guiding new cardholders, especially in rural and semi-urban areas, on how to use those cards, some bankers told Business Standard.
'It's a toss-up between a fire sale of equity or merger with a strong bank,' points out Tamal Bandyopadhyay.
The finance minister asked lenders to identify eligible borrowers and reach out to them and urged for quick implementation of a sustained resolution plan for the revival of every viable business.
Currently, the fee is Rs 15 per financial transaction. This has been recommended to be revised to Rs 16.50, plus service tax (12%), taking the amount to Rs 18.48.
The Ministry of External Affairs (MEA) on March 17 had announced that State Bank of India (SBI) would extend a term loan of $1 billion to Sri Lanka, fully guaranteed by the Indian government, and this was part of India's financial aid to the troubled island nation. Ministry of External Affairs (MEA) spokesperson Arindam Bagchi was quoted saying by news agency PTI that the loan would be used for importing food, medicines, and other essential items. "India has always stood with the people of Sri Lanka and we will continue to extend all possible support at this juncture.
HDFC Chairman said a rock-bottom level of investment cycle in the country has indeed taken a toll on banking sector.
Compared to other emerging markets, accelerated growth in the domestic economy provided greater business opportunities to foreign banks in India, resulting in higher profitability.
The central bank says interest on card balance should not be levied till next bill.
Banks and financial institutions are seeking more flexibility in dealing with commercial and industrial loan accounts, which are seeing pressure due to cash flows and repayment.
The latest fraud is a failure of management supervision and accountability, as no bad debt was generated and no cash was involved
Move comes after the country's monetary authority tightened credit norms
The company agrees to give interim funding till the airline gets an equity partner
ICICI Bank has the largest proportion of SDR loans as a percentage of its total, followed by state-run United Bank of India and Canara Bank.
According to bond dealers, the spike in CD issuance could indicate that liquidity won't remain as comfortable by the end of the financial year (March 31) as it now is.
RBI Governor Shaktikanta Das on Wednesday defended the Reserve Bank's handling of the price situation, saying acting prematurely on inflation would have exerted a heavy cost on the economy and citizens. Acknowledging that the inflation target has been missed, Das said the RBI decided to support the economy by not introducing a rate hike in face of a spike in inflation. "We prevented a 'complete collapse of the economy' by keeping rates lower and stayed away from premature tightening," Das said speaking at the annual FIBAC conference of bankers in Mumbai.
Conditions attached by RBI ensure it won't take off, contend experts.
Currently, foreign lenders are present in India only through branches or representative offices.
Reserve Bank of India Governor D Subbarao on Wednesday contested the idea of "making banking boring" to bring back economic stability, mooted by Nobel laureate Paul Krugman in the wake of global financial meltdown.
Lenders are not enthused because, as brokers, their responsibility towards policyholders will be higher than corporate agents.
The country's top bankers met RBI deputy governor Subir Gokarn on Thursday for the customary pre-policy meeting, where bankers pitched for a cut in savings bank rate, which will help them improve their net interest margins.
After due deliberations, the lenders have decided to seek resolution for Jet Airways under the bankruptcy code since only a conditional bid was received.
With the spate of businesses turning their attention to Ayodhya, land rates have shot up, in some pockets by as much as 10 times. Whether one walks into a hotel lobby or sits down for a meal, land deals are being discussed at every other table -- one on one or among groups.
To discuss ways of increasing lending to optimise stimulus package impact.
The company's IPO -- the first by a private bank in a decade -- was oversubscribed a staggering 69.62 times.
Banks are busy advertising attractive deposit rates that are on offer, lining up roadshows and door-to-door campaigns. Some of them are even offering incentives to their employees to woo depositors. As a result, they expect to mop up more than 20 per cent of what they usually do during November. Banks have also stepped up the deposit-mobilisation drive because they will be reducing interest rates from December.
The deadly terror attacks, which crippled Mumbai on Thursday also, will not be able to dent the confidence of India's banking and financial system, which, bankers feel, will bounce back to normal soon.
Voices from the Treasury are clamouring for lowering rates as this would boost demand.
According to ICRA, even in a high-growth scenario, wherein the second half of FY20 sees the incremental bank credit rise to Rs 6.5-7 trn, there will still be a 40-45% year-on-year decline.
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