Some measures announced in Indradhanush -- a 7-point Modi plan to revamp State-owned banks but not completed -- may be taken up again.
Ranjan was nominated to the board of ICICI Bank on April 7
The government must set up a Bank Investment Company to shrink its role in PSBs, if we are serious about tackling the two persistent issues - lax corporate governance practices and discretionary decision-making, says Shyamal Majumdar.
Non-Performing Assets are a wake-up call for public sector banks.
Ashoka University co-founders Vineet Gupta and Pranav Gupta, who were booked last week by the Central Bureau of Investigation in a Rs 1,600 crore fraud case, on Thursday stepped down from all boards and committees of the varsity.
Many bankers say the move will have a serious impact on the chain of command of nationalised banks and that it would only enable the government to dish out favours to a few of their own men.
The government on Tuesday appointed SBI's senior-most managing director Dinesh Kumar Khara as the chairman of the the country's largest lender. He replaces Rajnish Kumar, who completed his three-year term on Tuesday.
Nitin Bhatnagar, a Maltese citizen and a former relationship manager of the Bank of Singapore, was taken into custody under the provisions of the Prevention of Money Laundering Act on Tuesday.
Analysts were expecting the government to propose higher capital infusion for banks.
Chanda Kochhar, who was arrested for a cash-for-loan scam on Friday, was once a powerful banker and instrumental in making ICICI Bank the country's biggest private sector lender. Kochhar, a regular feature on Forbes top global honchos lists, was arrested by the Central Bureau of Investigation (CBI) along with her husband Deepak Kochhar in connection with alleged cheating and irregularities in loans sanctioned by ICICI Bank to Videocon Group companies. Kochhars were called to the agency headquarters and arrested after a brief questioning session. Her chapter at ICICI Bank ended abruptly in 2018 when the board of directors approved a request from Kochhar to seek early retirement following allegation of corruption and quid pro-quo while extending loans to the now bankrupt Videocon Industries.
"I think bankers have expressed some concern that they should not be held liable for actions that are taken in the full spirit of what is needed," Raghuram Rajan said.
Does the Union government or the RBI see itself as Krishna beheading Shishupal and what will constitute the 101st or indeed the past many sins for which a Sudarshan Chakra will have to be used? More importantly, what are those sins?
Budget 2015 has blessed the banking sector.
The need to allow government shareholding in public sector banks to come down below 51 per cent
The cumulative loss of 20 state-run lenders stood at Rs 14,000 crore during Q4
RBI says haste in easing norms for banks harmful to economy.
"If HR isn't responsive, it's critical to keep records of all interactions -- e-mails, dates and any conversations you had. If HR fails to help, escalate the matter to higher management or the internal complaints committee," says Smita Shetty Kapoor.
'The government must find worthwhile private owners for some of the banks, increase the share of private sector banking in the system, and then ask the remaining government banks to face the discipline of the market and compete, or shrink into irrelevance,' says T N Ninan.
Bankers seem to be pleased with the government for keeping its promise of not interfering in operational matters, but are apprehensive about the intense scrutiny of their functioning.
The government package for public sector banks, announced last Friday, has been welcomed by the stock market with the PSU banking index booking smart gains.
'The one sector where there is still a sense of crisis is banking, but the government has regrettably set its face against privatising any of the government-owned banks,' says T N Ninan.
The proposed IFC disrupts existing regulatory structures.
The cacophony of uninformed voices should not impact decision making process of bank executives.
'The entire government-owned banking system (excluding SBI) is now in the red.' 'But worse is to come,' warns T N Ninan.
Given that it is only a temporary breather for PSBs, the government now needs to look at the harder options.
Jet Airways founder Naresh Goyal's cancer was at a preliminary stage and not life threatening, a special court said here on Thursday while refusing to grant him interim bail on medical grounds. The court, however, permitted Goyal, arrested in a money laundering case, to undergo cancer treatment at a hospital of his choice for two months. Goyal (74), who is lodged in Arthur Road jail in central Mumbai, had sought to be released on interim bail to undergo treatment for cancer.
On government's last week's announcement of revamping of PSU banks, Fitch Ratings said the move is "credit positive, but risks remain".
India's ailing banks need immediate attention.
Ranneeti: Balakot And Beyond veers between intriguing and boring, observes Deepa Gahlot.
'Let's walk on two legs: Facilitate better resolution under the present system and set up PARA as well by transferring loans amounting to, say, Rs 1 lakh crore.'
The Enforcement Directorate (ED) has filed its first chargesheet in connection with a money-laundering probe linked to alleged irregularities in the Delhi Jal Board (DJB), official sources said on Saturday.
The NPA of the public sector banks rose to 6.03% as of June 2015.
The RBI, according to the source, wants details on the procedure followed for credit appraisal by the bank while giving loans to Videocon.
The International Film Festival of India kicked off in style on November 20 in Goa.
The central bank dashed hopes of any steep interest rate reduction.
What was the RBI doing, what was the PNB top management doing, what were the auditors doing, asks Debashis Basu.
Private banks are assumed to be more efficient at intermediating between depositors and investors.
More than 60 people from Gujarat on board the Nicaragua-bound plane, which was sent back from France over suspected human trafficking, had agreed to pay Rs 60 lakh to Rs 80 lakh to immigration agents, who promised to cross into the US illegally after reaching the Latin American country, officials said.
The income tax department will share PAN and bank account details of any entity with 10 investigative and intelligence agencies, including the CBI and NIA, under the integrated counter-terrorism platform NATGRID, according to an official order.
Banks in India must have a modern approach, suggests a panel comprising of banking bigwigs.
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