'My resignation is a larger governance and governance-plus kind of an issue, which the board of directors of the bank should be introspecting.'
After several years of downgrades to the country's medium-term growth outlook, the estimates are likely to be upgraded now, Credit Suisse said in a report. The country's economy is showing signs of bottoming out, it said. According to the report, the consensus forecasts of GDP growth for FY2022 over FY2020 stopped falling after October 2020 (currently at (-) 1 per cent). Analysts at Credit Suisse expect these estimates to be revised upwards.
Former HDFC Bank chairman Atanu Chakraborty cites misselling of AT-1 bonds and underperformance as key reasons for his resignation, dismissing personal differences as a major factor.
More than 90 per cent of India's population belongs to the base tier (less than $10,000, or about Rs 730,000) when it comes to the distribution of wealth.
According to a Credit Suisse report, Indian GDP at the current price level of the rupee (Rs 40.76 per $) stands at $1trillion. The strengthening rupee has now made India the 12th country to achieve this milestone.
Say their aggregate borrowings were "well within the norms"
Q3 revenue growth estimated at 1-3% q-o-q, currency headwinds to weigh
The CAD has been narrowing since 2012 to an estimated 1.6% of GDP in 2014
Nomura has forecast the rupee at 61.6 against the dollar in Q1 and at 62 by Q4 of 2015.
The 30-share Sensex ended lower by 61 points at 29,122 mark and the 50-share Nifty slipped by 12 points to close at 8,797.
There seems to be no dearth of funds to fuel this growth, report Peerzada Abrar and Shivani Shinde.
Jain was the architect of Deutsche's investment banking business and placed one of his former trading heads, Alan Cloete, in Hong Kong as co-CEO for Asia Pacific in 2012.
The most preferred CoCo bonds are those through which banks raise their additional Tier-I capital.
The top losers from the Sensex pack are ONGC, Coal India, Vedanta, Reliance Inds and L&T.
In the near term, the key driver will still be the government's fiscal spending.
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