'The shadow banks are currently facing a liquidity and solvency crisis.' 'The danger is that it could potentially engulf the entire financial system because shadow banks have borrowed huge amount of money from banks, mutual funds, pension funds, and insurance companies.'
'Every few days, I wake up with a sense of restlessness that time is running out'... 'We have created a due process for stressed assets to resolve, but there is no concrete plan in place for public sector bank balance sheets,' says RBI Deputy Governor Viral Acharya.
The agency on Friday also carried out searches on the premises of the Gitanjali Group at 20 places in Mumbai, Pune, Surat, Jaipur, Hyderabad and Coimbatore.
Real estate sector cheers reforms in the Budget.
Recent tribunal rulings open prospects of large haircuts and barriers to auctioning of personal guarantees, among other issues
The Reserve Bank of india is likely to tell state-run United Bank of India (UBI), which has seen erosion of capital due to bad loans and higher provisioning to implement prompt corrective action.
In fact, no other recent Union Budget has held so much significance for the Indian economy as the one to be presented in about six weeks from now, notes A K Bhattacharya.
Many in the US establishment must hope that the crisis would put the brakes on China's growing military might. Well, it ain't gonna happen, says T T Ram Mohan, who was appointed a member of the prime minister's economic advisory council on Wednesday, October 28, 2021.
The central bank dashed hopes of any steep interest rate reduction.
Every 30 seconds its website is connected to an SME for a loan, every five minutes it evaluates a loan, and every 20 minutes it disburses a loan.
According to SBI executives, the aim is to do things efficiently with an eye on profitability, and get a feedback on areas, including which business to enter and which to exit.
Kerala floods take a toll on small businesses, NBFCs brace for losses
Even as you fight the ongoing health challenge, here are some tips to strengthen your personal finance in the time of coronavirus.
HFCs and banks expect a drop in demand for housing loans in the short-term.
Moody's said the negative outlook reflected uncertainty over the refinancing of Macrotech's (formerly Lodha Developers) upcoming debt maturities.
Instead of the minority stake they held earlier, now they have controlling stake in many firms
In a statement, the central bank said heightened volatility in capital markets in reaction to Covid-19 has imposed liquidity strains on mutual funds (MFs), which have intensified in the wake of redemption pressures related to closure of some debt MFs and potential contagious effects therefrom.
Wondering if mutual fund investments can help you make you enough money for your retirement and child's marriage? Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Finance Minister Arun Jaitley sought parliament's approval on Friday to increase the spending budget for this fiscal year by $4 billion, with almost half to be used to inject extra capital into state banks struggling with bad loans.
'MFs have a combined exposure of Rs 3.2 lakh crore to NBFCs, out of which Rs 1.1 lakh crore matures by September 2019.'
While the COVID-19 pandemic has completely halted production and new orders, exporters say that payments have also been delayed for the shipments sent before the lockdown. Exporters say some customers are not taking delivery of the shipments because they have shut shop. Ready-made garment players had been hoping for a revival in demand in China but with the virus spreading to Europe, the US and other major markets, there are no orders coming from the major retailers.
The deal, as well as some other strategic and financial investments in works, will help Ambani cut debt at RIL.
The trick is to know how long you are supposed to hold which document, observes Bindisha Sarang.
The immediate concern for all companies is to prepare themselves - and their vendors and suppliers - for the new GST return filing mechanism, being test piloted from April 1.
RBI governor on the stress in public sector bank due to NPAs, and what is needed to be done to get the system back on track.
Finance Minister Arun Jaitley on Monday presented the Union Budget for 2016-17.
Experts prefer domestic consumption-driven plays and defensives such as information technology and pharmaceuticals
The IL&FS group has a complicated structure, with the holding company owning stakes in its financial services arm as well as the subsidiaries that operate its infrastructure assets.
Vodafone Idea, the promoter of Aditya Bira Idea Payments Bank, said in a notification to the exchanges late on Friday that the board of the bank approved winding up the business, subject to approval from the Reserve Bank of India.
Since January 1, the rupee value has fallen by 5.5 per cent against the US dollar and touched life-time low of 58.98 on Tuesday.
Even if you get a bit late in buying things you need, it is always better to avoid debt traps, advises Vishwajeet parashar
Jaitley promised higher investment in roads and railways.
The windfall from RBI may be used to trim borrowing, help fund Rs 3.3 lakh crore capex plan, capitalise banks and provide fiscal stimulus to some stressed sectors, experts and economists said.
A section of analysts feel now may not be a bad time to buy select PSBs.
The time is ripe for a merger of eight fund houses indirectly owned and controlled by the central government, says N Sundaresha Subramanian.
The Arun Jaitley-led finance ministry reiterated banks should act tough on wilful defaulters.
'His (Das) approach to work seems that of working as a team with ease in communication.'
The cutback on export credit refinance facility is another step towards a shift away from sector-specific liquidity allocations.
Lenders can now review a borrower account within 30 days of default. Earlier, the banks had to start resolution within one day of default.
Tamal Bandyopadhyay, columnist and author of several books like From Lehman to Demonetisation: A Decade of Disruptions and Sahara: The Untold Story, tells Rediff.com why Yes Bank depositors should not panic and the current crisis at India's fifth largest private lender does not pose any systemic risk.
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