The meeting will focus on how to make the crisis an opportunity for India.
.jpg)
Indian companies are keenly waiting for reforms on rules related to land acquisition, labour, coal and power sector, and foreign direct investment in insurance sector.
'It's a toss-up between a fire sale of equity or merger with a strong bank,' points out Tamal Bandyopadhyay.
The central bank has, so far, cut its repo rate by 125 bps.
The progress we made in recent past should not detract us from making further structural reforms: Rajan
'Credit expansion is probably the quickest way to get the economy going again.' 'Easy credit is like a shot of nitro in a race car: In timely, small, quick, doses it can give a tremendous boost but carried to extreme it can destroy the engine,' points out S Muralidharan, former managing director, BNP Paribas.
With RBI likely to make credit costlier and banks to follow, some ideas on switching money to be able to do this.
.jpg)
At the retreat, PSBs had suggested the government cut its stake in these entities to less than 51 per cent over a period of time and empower the boards of individual banks.
An estimated 223 people have lost their lives since August 8 in Kerala's worst floods in decades that has caused damage worth more than Rs 20,000 crore.
The meeting will be attended by all heads and EDs of public sector banks
Moody's earlier this week lowered its growth forecast to 7 per cent, from 7.5 per cent.
The evolving RBI-government relationship, a reversal in the interest rate cycle and return to profitability will dominate bankers' conversation this year, says Tamal Bandyopadhyay.
RBI on Monday conducted an unprecedented level of liquidity infusion to the tune of Rs 3.3 lakh crore, in which banks bid for as much as Rs 4.5 lakh crore. The central bank said it would conduct a liquidity infusion auction of Rs 1 lakh crore on Tuesday as well, to help banks tide over the liquidity crisis.
BoB now has over 9,500 branches, 13,400 ATMs, 85,000 employees to serve 12 crore customers.
The government cleared the proposal despite opposition from the petroleum ministry, which says this is not the right time for divestment as the sector is moving from trade parity to export parity pricing.
The BJP had not filed till May the expenses statement for the Karnataka Assembly elections held last year in July.
Day 2: Syed Firdaus Ashraf attempts to deposit Rs 500, 1,000 notes in his bank account.
The move will to a large extent speed up the monetary transmission process--which is banks passing on the rate cuts that the Reserve Bank announces to their borrowers without much delays--something that has been missing all these while and something that the RBI has been unhappy with.
Parekh says drafting new I-T law is hindered by the lack of experience.
The RBI plans to increase e-smart facility.
'According to politicians, farmers are the fourth grade citizens of India.' 'We farmers could meet the prime minister and ministers during Congress rule.' 'But none of the BJP ministers want to even meet us.' 'The prime minister has time only for foreigners, but has no time to meet us farmers.'
Raghuram Rajan's exit reminds Syed Firdaus Ashraf of Kafka's The Trial.
Are we adopting an idea whose time has come and gone? My feeling is, yes, says ex-banker C Joseph Chacko in the fourth article of the series on inflation targeting.
The Reserve Bank left interest rate unchanged.
Will Arundhati Bhattacharya be the RBI's first woman governor? Or will Urjit Patel succeed Raghuram Rajanas RBI governor when his term ends on September 4?
The biggest-ever seizure of cash in new currency grew to over Rs 5 crore on Friday even as the Income Tax department said it detected unaccounted income worth Rs 152 crore after it conducted searches in a dozen premises in Bengaluru and other locations.
The Central Bank has stonewalled almost every RTI query pertaining to demonetisation citing one or the other reason.
Formula One Chief Executive Bernie Ecclestone has been indicted in Germany in a case relating to the sale of a stake in the motor racing business eight years ago, a spokesman for a Munich court said on Wednesday.
Mundra fills the vacancy created by the retirement of KC Chakrabarty in April, two months before his five-year tenure was come to an end.
Banks are clear that lending rates are not going to fall further, say Hamsini Karthik and Anup Roy.
India's top private banks might soon exit from the gold coin business.
Out of nearly 30 public sector undertakings and assets under 'strategic sale' plan, only the ONGC-HPCL plan has been completed
Experts hail 2014 as the worst year for banks.
.jpg)
Top firms will have enough firepower to go for foreign M&As, given their balance sheet growth, say bankers.
Significant investors in government bonds FIIs have been net sellers since May 22.
RBI governor Raghuram Rajan says, laws must be tightened for freeloaders.
There will very little direct impact from the US Fed's rate hike this time, as we are well prepared both to handle liquidity, outflow of FII funds and managing our currency. But that doesn't mean India will be out of the woods anytime soon, says M V Subramanian.
The rupee had gained 24 paise to close at nearly one-week high of 60.95 against the dollar yesterday following selling of the US currency by exporters and some banks, amid sustained heavy capital inflows.
The mergers will not involve any cash but only share swaps
