'We are all in a tizzy about NBFCs in the aftermath of the IL&FS default.' 'We tend to jump to the notion that an NBFC is like a bank. But banks make a promise that deposits are liquid and have an assured return.' 'NBFCs make no such promises,' points out Ajay Shah.
The instruction is that audit of large units be completed within seven working days, of medium units in five working days and of small ones in three.
The event will also hurt PNB's asset quality in the March 2018 quarter. While the finer details of the fraud have not been provided, making it difficult to gauge the exact impact, analysts say it will dent the bank's financials.
The photograph/s that we post, the comments and likes that we share on other people's timelines are all important reference points for hiring managers and recruiters, says Aashish Taneja.
In a recent blogpost, Google said hijackers routinely attempt to sign in to sites across the web with credentials exposed by third-party breaches. If netizens use strong, unique passwords for all their accounts, this risk disappears, it said.
'Those who come from outside are surprised at the relatively small strength of the RBI supervisory cadre, relative to the needs of the country and the needs of the financial sector.'
The ED is of the opinion that the authority stepped into the shoes of the trial court and commented on the preliminary investigation done by the CBI in the impugned order.
On this Teachers Day, I once again bow my head as I remember all the teachers who had taught me in school, college, military academy, army courses and so on. But Ms Shantha Potty Aunty, this one more head bow is specially for you, admirably says Colonel K Thammayya Udupa (retd).
Experts say the impact on the schemes' NAVs may vary in the coming days, depending upon how fund houses treat the developments on VIL and whether there are any further rating downgrades or credit events.
One might wonder what's wrong if one were to get the best of both worlds by buying one product. There are basically two problems... cautions Rajiv Raj
Credited with turning around Tata Steel in the 1990s, J J Irani has stepped down on turning 75, from the company Board, bringing to an end his 43 years of association with the world's seventh largest steel making company.
EBay spokeswoman Amanda Miller told Reuters those passwords were encrypted and that the company had no reason to believe the hackers had broken the code that scrambled them.
Here's what borrowers must pay attention to before going for such medical loans.
With the implementation of the goods and services tax less than 75 days away -- assuming July 1 as the roll-out date -- Sudipto Dey provides a guide to how businesses can navigate the transition.
Simple to follow and effective ways to get cheaper two-wheeler insurance
Stick to export-focussed plays, large-caps, say analysts
According to industry players, over 50 FMPs have exposure to Zee Group companies.
Last month, the bank was placed under Prompt Corrective Action due to high level of bad loans, lack of sufficient capital to manage risks and negative return on assets for two consecutive years.
Credit card issuers use a decision model to decide whether or not to issue a credit card to an applicant, and the credit limit to offer in case they decide to issue one. It is the same with loan companies. In all such cases, the decision model analyses the information provided by the applicant and to arrive at a decision. The yardsticks of such decision models are based on statistics of past experiences.
Writer Apurva Asrani slams Kangana Ranaut for staking a claim to writing Simran's story.
If you are raring to go this festive season, here are a few tried and tested tips to help you avoid online shopping pitfalls.
As a percentage of the aggregate Budget expenditure, it is 12 per cent.
Karan Bahree, an employee of the Gurgaon-based call centre in the middle of a scam involving leakage of credit card information
Beware of spot offers and discounts aimed to lure you into binge buying.
The first stage of the inclusion strategy was focussed on opening bank accounts, logically seen as creating the last-mile channels for financial access.
The CAG audit and other data suggests it could be far from the efficient new alternative that was once conceptualised. A conclusive review remains elusive till the government begins to release more granular and comparable data on the complex backend of GST to a deeper scrutiny, by researchers, auditors and the public.
Wanted diamond merchant Nirav Modi appeared via videolink from his London prison for a regular call-over hearing at Westminster Magistrates' Court on Friday, when he was further remanded in custody until February 25, when the judgment in his extradition case is to be handed down. District Judge Angus Hamilton informed Modi that he would most likely be appearing again via videolink on the day of the ruling, which will decide whether the 49-year-old jeweller has a case to answer before the Indian courts on fraud and money laundering in relation to the Punjab National Bank (PNB) scam case. Last month, District Judge Samuel Goozee had confirmed the timeline for the judgment at the end of closing submissions in the case, during which he heard that Modi is responsible for overseeing a "ponzi-like scheme" that caused enormous fraud to PNB.
IFMR Capital previously pioneered the multi-originator securitisation.
Foreign banks set the template in consumer banking in its infancy, but have almost vacated this booming space.
Applying for a loan? Check if you've paid your telephone bill or insurance premium first. Soon, your loan proposals will not depend only on your credit card and debt payment record with banks but also on whether you've paid your phone bill, insurance premium and stock broker dues on time.
China had been trying hard to enter the Indian market, without opening its own to Indian products. There is an economic crisis in India-China relations that the Chennai Connect barely scratched the surface, points out Srikanth Kondapalli.
While taking gold out of the closet to borrow money is no longer taboo in Indian households, the sharp drop in gold prices is hitting the newest loan product on the banking turf hard, explains Tamal Bandyopadhyay.
Rajiv Kochhar, who was asked to appear at the CBI office in Mumbai, was examined about the loan and his links with Venugopal Dhoot, the promoter of the Videocon Group, and Videocon.
Uber had run into trouble with the RBI over the two-payment process
This is the first big move in the investigation of the British Virgin Islands list where the I-T department has found a significant amount of tax evasion.
The possibility of the slowdown affecting more players is greater if the industry doesn't get access to easier finance in the next six to eight months.
'When you don't have food to eat, will you be worried about the virus or the next meal?'
Private banks and start-ups offer instant loans on apps as well as through ATMs.
Beware, it's not just criminals who want your data!
