State Bank of India (SBI), the largest lender in the country, has launched a share sale to institutional investors to raise upto Rs 25,000 crore, the biggest qualified institutional placement (QIP) so far by an Indian firm, and has set a floor price of Rs 811.05, which is at a 2.5 per cent discount on Wednesday's closing price.
'That way you're not hostage just to US sort of exports to India.'
FIFA needs to bring its member associations into line as well as cleaning up its own act, the man called in to head its new independent watchdog said on Wednesday.
The Bharatiya Janata Party regime will have to make good on this election slogan to restore state-owned banks to health, says Rajiv Lall.
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.
The RBI was not party to the decision to demonetize 500 and 1,000-rupee notes, which was taken at the highest level of India's political leadership.
This issue was discussed at the Gyan Sangam addressed by Prime Minister.
'The macro-economic stresses -- high interest rates, rupee depreciation and capital flows -- have receded now.' 'Interest rates have come down, inflation is down and the rupee has bounced back.' 'If oil prices continue at this level, there will be no vulnerability.' 'Growth is a different story.'
'Without appropriate supervisory constraints in place, banks are in a position to delay the recognition of losses and engage in ever-greening or zombie lending, which is essentially the rolling over of debts of unviable borrowers that would have otherwise defaulted,' points out RBI Deputy Governor Viral Acharya.
Move to increase 90-day window to 120 days to give more time to borrowers to service loans.
Under the Indradhanush roadmap announced in 2015, the government will infuse Rs 70,000 crore in state banks over four years while they will have to raise a further Rs 1.1 trillion from the markets to meet their capital requirement in line with global risk norms, known as Basel III.
Fitch said the full implications of Patel's resignation will only become clearer once there is some indication of the RBI's policy approach under his replacement, Shaktikanta Das
It will be headed by Secretary, Department of Financial Services.
Analysts say strengthening bank's capital will boost earnings, bank needs chief with long stint to run show
State Bank of India is also expected to tap the markets this year
'There is merit in keeping the central bank's balance sheet strong if the government's fiscal balance sheet is weak.'
Privatisation or consolidation into half a dozen large banks might not rescue public sector banks from the crisis they find themselves in.
Their net NPA as a proportion of net advances were 2.2 per cent, compared with 1.7 per during the same period a year earlier.
'The new ceiling will cover around 93 per cent of all deposit accounts, up from 90 per cent earlier,' notes Tamal Bandyopadhyay.
Reserve Bank Governor Raghuram Rajan on Thursday said the central bank will continue its focus on taming inflation, speeding up resolution of distressed projects and ensuring enough capital for banks through balance sheet clean-up.
Ironically, bad loans and non-performing assets are on the rise in public sector banks in India, say sector watchers.
'I am sure Dr Patra will get the fullest cooperation from the finance minister who needs workhorses, not prima donnas constantly looking to improve their CVs,' says T C A Srinivasa-Raghavan.
Pulbic banks have no reason to cheer Budget announcement.
P Chidambaram said to be able to play a meaningful role in the global governance, the G-20 agenda should be sharper and focused only on those issues on which it can make a distinctive contribution, particularly, on economic and financial matters.
If the new governor can think out of the box even as he signals that he can bat for the RBI cadre and respect its institutional memory, that will go a long way in getting out of the current impasse.
Is the RBI unable to accept with grace that beyond 55, one can have the ability to head the compliance functions in a bank, asks Tamal Bandyopadhyay.
Public resources are scarce and need to be used well.
'Space out when raising funds; Sebi mulls securitisation platform'
What was the RBI doing, what was the PNB top management doing, what were the auditors doing, asks Debashis Basu.
"Fitch Ratings has placed Punjab National Bank's (PNB) Viability Rating of 'bb' on Rating Watch Negative (RWN), following the large fraud reported by PNB," the US-based agency said in a statement.
'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.
Capital adequacy and tighter regulation are just one step forward.
The need for larger investment in infrastructure that is the biggest shortcoming, says A V Rajwade.
Though Indian banks don't have large exposure to subprime mortgages, analysts are worried at the rise in their restructured loan portfolios and deterioration in credit quality.
'I have grown up in an environment where the dominant narrative of Indian sporting achievement was -- We can't.' 'These achievers have fought hard, built on each other's body of work and knowledge, and have today changed the script to -- We can,' notes Rahul Dravid,cricketing legend.
Prime Minister Narendra Modi will hold discussions with public sector banks (PSBs) and financial institutions to draw up an action plan for banking reforms
In the Anti Money Laundering (AML) Basel Index 2013 India has been ranked 93rd and 70th in 2012 and 2013 respectively out of 140 countries.
Rate sensitive sectors rallied the most led by banks while metals surged on rebound in commodity prices
Summary of sports events and persons who made news on Tuesday
The World War I had been triggered by an assassination in then relatively unknown Serbia.
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