The clean-up process begun by the Reserve Bank of India runs the risk of spiralling out of control.
Dr Raghuram Rajan's departure holds lessons for all, be it sections of the media, politicians or the people themselves. We need to learn how to value and retain talent. At the same time the talented must realise that talent alone does not ensure the top job, says Sanjeev Nayyar.
The Reserve Bank of India (RBI) is planning to introduce plastic currency notes as an experiment in five cities.
Financials and auto stocks were the top losers while energy and IT shares recovered
Spare the serious entrepreneurs but don't allow the rogues to use the shield of secrecy, writes Tamal Spare the serious entrepreneurs but don't allow the rogues to use the shield of secrecy, says Tamal Bandyopadhyay.
The ministry seeks to make lending requirements flexible for banks financing key stalled projects.
After visiting two Central Asian countries, Prime Minister Narendra Modi arrived in Ufa on Wednesday on a three-day trip during which he will attend the BRICS and Shanghai Cooperation Organisation summits.
Kaushik Basu, whose stint at the World Bank ends on July 31, was being looked at as a serious contender, the sources said
From zeroing in on the best means for stake dilution to moving beyond microfinance, Bandhan navigates a tough path. Namrata Acharya reports.
The appeals came against orders of the Central Information Commissioner in various cases.
In 1910 the who's who of Wall Street met in total secrecy in an American town to work towards the first draft of the bill that would finally give the United States a central bank.
What connects P S Jayakumar of Bank of Baroda, V Vaidyanathan of Capital First Ltd and Chandra Shekhar Ghosh of Bandhan?
The culture of these firms is alien to the Indian financial system. Distressed assets funds are known for their ruthless recovery ethics. Slicing and dicing a company and selling it on a piecemeal basis is their usual practice. This is something Indian banks are finding a little uncomfortable.
In a nation divided by many things, the 12-digit unique identity number is holding lives to ransom.
The committee's suggestion that existing commercial banks be allowed to hold payment banks as subsidiaries is also seen as unviable by RBI and the finance ministry.
The government has opted for the RuPay debit card over the Aadhaar-based platform for "last-mile" authentication in its Pradhan Mantri Jan Dhan Yojana.
'Debt mutual funds are a good option now because interest rates are coming down.' 'Retail investors must put a majority portion of your money in short-term debt funds (1 to 3 years) and only a small portion in actively managed dynamic funds.'
Even if they score administratively, state governments ruled by the party suffer from an inability to communicate positively, say observers.
In a proposal to FinMin, the Banks Board Bureau suggests asset sales to PSUs within a deadline to recover bad loans.
The billionaire jeweller, who has fled the country, in the letter also disagreed with the loan default amount of Rs 11,400 crore and pegged the amount his companies owe to the bank at under Rs 5,000 crore.
GIFT is a financial centre almost entirely devoid of bankers and, indeed, of people.
Bankers and executives involved in ATM operations said challenges abounded in this segment.
A new generation of scholars -- this time, sociologists and anthropologists, who hitherto have been busy with researching social practices of primitive tribes and social structures like India's caste system -- are starting to cast their eyes on the financial sector.
Rajan said whatever answer he gives on Modi will be 'problematic'
There has been an increase of $17 trillion in total debt in China.
As with TCS, most companies put their money in mutual funds, corporate bonds and bank deposits, which are losing their appeal versus government bonds in terms of both returns and safety.
The party's research department is quietly collecting data, facts and figures to puncture the Modi government's claims on the note ban, the goods and services tax, and the economic growth.
ICICI Bank and SBI were among the top Sensex gainers along with FMCG majors ITC and HUL.
'What do you think the Congress is today?' 'Is it a political party heading for a life-and-death battle?' 'Or an NGO, just doing its thing and hoping it will improve the state of the world?' asks Shekhar Gupta.
Payments banks will mainly deal in remittance services and accept deposits of up to Rs 1 lakh.
A host of lenders, including State Bank of India, IDBI Bank, Indian Bank and Andhra Bank, have lined up meetings of their asset-liability committees this week, to review their lending and deposit rates.
Lack of decisiveness and courage to deal with PSBs may turn out be the biggest impediment to the Modi government's economic initiatives, says Debashis Basu.
'The temptation of governments, to have a finger in the RBI pie will be just too great to resist, unless extensive amendments are carried out in the RBI Act treating it almost as the fourth branch of the government.'
The Central Bureau of Investigation has arrested an Reserve Bank of India official and a JDS leader K C Veerendra, who is also a casino owner, in connection with separate cases relating to alleged illegal conversion of currency post-demonetisation.
'Last year, Rs 20,000 crore was ripped off from the banking system.' 'The situation has deteriorated under the Modi government.'
During deleveraging the income falls more than reduction in debt due to the austerity measures.
Over 15 years, with seven per cent growth, the Indian economy will be three times bigger.
Many factors leading to the 2008 financial crisis still exist.
Thanks to Rajan we are an inflation-targeting country now
'Tilting at the Government in English in front of India may make him feel like Joan of Arc, but without a feel for Bharat he will merely be Don Quixote,' says S Muraleedharan, former managing director, BNP Paribas.
