Bankers and industry analysts say a number of public and private sector banks have expressed willingness to offer fresh loans to Indian companies to help them repay their overseas dues maturing in the near term.
Despite the demonetisation of 2016 and the rise in digital transactions that followed, the economy's dependence on cash has remained as high as ever. So when the Reserve Bank of India (RBI) introduced a pilot project of its version of digital cash - called the central bank digital currency (CBDC) - on December 1, many questions were asked. Can the CBDC replace physical cash, even partially? Can it match cash in terms of convenience? Are CBDC transactions truly anonymous?
Reflecting moderation in economic growth, bank credit contracted by about Rs 25,000 crore (Rs 250 billion) in January 2009 compared with the outstanding credit of Rs 11,85,530 crore (Rs 11855.30 billion) around December 2008.
Jaitley said the government had earmarked Rs 25,000 crore (Rs 250 billion) for recapitalisation.
The filing of offer documents with the capital markets regulator - Securities and Exchange Board of India - has more than halved this financial year (2022-23, or FY23) as the outlook for new share sales has worsened, following correction in the secondary market. So far in FY23, 66 companies filed their draft red herring prospectus (DRHP), as opposed to 144 in the preceding financial year (2021-22, or FY22).
From zeroing in on the best means for stake dilution to moving beyond microfinance, Bandhan navigates a tough path. Namrata Acharya reports.
The move is aimed at offering better compensation to mid-level employees in government-owned banks to not just retain talent but also attract specialists from outside. "We can hire specialists on contract, but there are a lot of issues with the compensation structure," said a bank chief. There are seven pay scales in public sector banks, but the difference between private and public sector compensation structure widens as employees move up the hierarchy.
The amount of loans that carry a high risk of slippage into the NPA category over the next few quarters is about Rs 2.8 trillion.
The contempt petition in the Karnataka High Court has been filed only against liquor baron Vijay Mallya alleging breach of an oral undertaking given before the Debt Recovery Tribunal that they would not alienate unencumbered assets nor deal with them, Counsel for a consortium of banks clarified on Wednesday.
Rajan said India's good economic fundamentals would allow it to overcome any 'sharp corrections' in global markets
Reserve Bank Governor Raghuram Rajan today criticised multilateral institutions like the IMF and the World Bank saying "they are not immune to cognitive capture".
Union Finance Minister P Chidambaram will meet the heads of public sectors banks and financial institutions, like IFCI and Small Industries Development Bank of India (Sidbi) on Tuesday to review their performance for the second quarter ended September 2008.
RBI may be inclined to impose severe restrictions on lending in the coming quarters.
Banks have urged the Reserve Bank of India to allow time till July to implement the proposed base-rate model, which was introduced by the apex bank early this month to bring in transparency in the lending.
Asserting that the non-performing assets in the banks have been contained, bankers on Tuesday said that they were monitoring it on a constant basis.
The cash transactions have been stopped at the branches belonging to the Jammu and Kashmir Bank and Ellaquai Dehati Bank.
It's not e-retailers alone. Bankers are also celebrating initiatives like 'Big Billion Day Sale' this festive season.
Bankers and other stakeholders are now almost certain that the Reserve Bank of India (RBI) will increase the key policy rate, or the repo rate, by 25 basis points (bps) on Tuesday.
The RBI, had, earlier in the day, hiked CRR by 0.75 per cent in two tranches, a move, it said, would help flush-out Rs 36,000 crore (Rs 360 billion) from the system.
With rise in NPAs, want more corporate loans to go for the arrangement.
The chairman of the JSW Group of companies, Sajjan Jindal, whose stake in the group is valued at $14.5 billion (Rs 1.1 trillion), is betting $4.5 billion of his personal fortune in the firm's bid for Ambuja Cements. According to bankers, Jindal's contribution will be a combination of share sale and debts raised by pledging the stake of the target entities with private equities. The JSW Group chairman has offered $7 billion for Ambuja Cements, including $2.5 billion of investments from private equities, the Financial Times reported on Tuesday.
Banks cut interest rates, processing fees; offer discounts for online shoppers.
2013 foreign currency non-resident deposits to mature in Sep-Nov
The meeting will be attended by all heads and EDs of public sector banks
The pick-up in credit demand in coming months looks uncertain.
A total of 49 companies raised Rs 81,615 crore in Samvat 2077, more than the preceding four years and almost double the amount raised in the previous year. Samvat 2078 appears even more promising with mega issues of Paytm and Life Insurance Corporation (LIC) of India. However, Paytm's record could be short-lived as state-owned LIC is planning to launch a Rs 1-trillion IPO by March 2022.
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.
However, the country has not put any restrictions on the entry of new foreign banks, since it wants a reciprocal gesture as Indian banks increasingly are plan to expand overseas.
MCA blamed its financial troubles on non-receipt of payments from the Board of Control for Cricket in India for the last 10 months.
The Reserve Bank of India (RBI) is planning to introduce plastic currency notes as an experiment in five cities.
'The Reserve Bank's independence has remained a work in progress, an enduring challenge that the nation has been grappling with on an ongoing basis,' says RBI Deputy Governor Dr Viral Acharya.
The bank board had decided to launch an enquiry to be headed by an "independent and credible person", to examine and enquire into an anonymous whistle blower complaint alleging that the bank MD & CEO had not adhered to code of conduct
The government on Wednesday announced the appointment of veteran banker K V Kamath as chairperson of the newly set up Rs 20,000 crore development finance institution NaBFID to catalyse investment in the funds-starved infrastructure sector. Parliament had in March cleared the National Bank for Financing Infrastructure and Development (NaBFID) Bill 2021 to support the development of long-term non-recourse infrastructure financing in India, including the development of the bonds and derivatives markets necessary for infrastructure financing.
Latest figures for HDFC Bank aren't available.
Factors like dedicated recovery teams, centralised follow-up on bad loan accounts and resolutions via NCLT are driving the trend
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