Grounded Kingfisher Airlines has written to UCO Bank wanting to know the basis of attaching the 'wilful defaulter' tag on the carrier.
While the RBI can nudge things along, ultimately bank owners must recapitalise and review internal processes to ensure that a culture of irresponsible lending doesn't continue, says Devangshu Datta.
Bringing in the untapped informal sector into the formal one will benefit business.
With the assembly polls only two years away, in 2026, any demoralising defeat in 2024, would challenge not only the party's continued relevance but also EPS's leadership, asserts N Sathiya Moorthy.
Voices from the Treasury are clamouring for lowering rates as this would boost demand.
'The rate of interest from the EPF is still attractive compared to the rates on fixed deposits, National Savings Scheme, Public Provident Fund...'
The BJP and TRS took digs at each other over the celebrations marking the annexing of the erstwhile Nizam-ruled Hyderabad state to the Union of India, with the former slamming vote bank politics behind the lack of official commemoration so far while the ruling party warned against communal forces trying to divide the society.
'The stimulus packages, sector reliefs, loans etc are coming to industry, but state governments have not got any money from GST, no money from excise, no money from any income source.'
The Supreme Court has agreed to hear on Friday a plea seeking a direction to the Centre to constitute a committee monitored by a retired apex court judge to inquire and investigate into the Hindenburg Research report which has made a slew of allegations against the business conglomerate led by industrialist Gautam Adani.
Since April, India has seen multiple strains of the coronanavirus sweep the nation, upending life and businesses alike. Out-of-home retail and discretionary categories such as durables, auto, fashion, lifestyle, hospitality, food services, travel, and tourism have been the worst-hit as Covid cases remain high, leaving state governments with no option but to curtail mobility and economic activity.
About 150 years ago, in British India, big farmers in the western region of Maharashtra agitated over unfair lending practices and demanded a more fair and inclusive financing structure. People say this is where the seeds of the cooperative movement, now omnipresent in the country, were sown. Today, more than 800,000 cooperative societies thrive in India, with 300 million members, a number close to the population of the United States. Despite a reach this deep--grass roots as they call it--cooperatives do not occupy a lion's share in the Indian economy.
Chinese Foreign Minister Wang Yi on Sunday met Sri Lanka's top leadership and discussed a host of issues, including the debt crisis faced by the island nation, investments, promoting tourism and the fight against the COVID-19 pandemic as the two countries marked the 65th anniversary of diplomatic ties.
Reliance improved its ranking this year to 121 from 142 last year, with a market value of $50.6 billion and assets worth $91.5 billion.
The lender, however, is not likely to reduce its base rate to which all loan rates are linked.
India's real GDP growth is set to exceed 7 per cent for CY-2015.
The outstanding credit card base dropped to 77.99 million in August from over 80 million in July, mainly on account of the new norms of the Reserve Bank of India (RBI) that warrant the deactivation of cards that are inactive for a year. While there was a 2.8 per cent decline in net card additions on a month-on-month (MoM) basis in August, a first in many months, credit card spends slipped 3 per cent on a high base. Still, spends topped the Rs 1-trillion mark for the sixth consecutive month.
NITI Aayog has not said what the reasons were for having achieved or not having achieved what was sought to be achieved, or what lessons can be learned for the future, points out Aakar Patel.
Only three of India's 45 commercial banks have cut base lending rates since the Reserve Bank of India's surprise easing this month, hurting the government's drive to lift business investment.
The RBI, which has been keeping rates at an elevated level citing the high inflation, wants to bring it down to 6 per cent by January 2016.
The bulk of the incremental profits will come from oil & gas and automobile sectors.
Their net NPA as a proportion of net advances were 2.2 per cent, compared with 1.7 per during the same period a year earlier.
Party claims people in Mysore are very enthusiastic and are looking for a change, reports Gouri Satya.
A report stated that despite initial setbacks from demonetisation and Goods and Services Tax, "all in all" the Indian economy has done well.
Public sector banks are inefficient, poorly governed and beset by largescale corruption.
At a time when Manipur is burning, voices like Colonel Sapam's serve as a healing balm. 'These are voices that need to heard and their stories of peace and reconciliation must be retold -- over and over again.
ICICI Bank was the top gainer in the Sensex pack, surging over 3 per cent, followed by HDFC, Bajaj Auto, HDFC Bank, SBI, Kotak Bank and Bajaj Finance. NSE Nifty jumped 109.75 points to 14,406.15.
I challenge the thief to come out on the field with a bow and arrow and we will counter it with a flaming torch, Thackeray said.
The states have outstanding liabilities of a whopping Rs 59,89,360 crore as on March 31, 2021, and the new sources of risk have emerged in the form of rising expenditure on non-merit freebies, the Supreme Court was told on Thursday by a PIL petitioner opposing irrational handouts.
Growth might be impacted by up to 0.30 per cent in the March quarter as normal economic activities come under pressure due to restrictions being imposed by more states to curb rising Omicron cases, economists at the country's largest private sector lender HDFC Bank said on Tuesday. The economists said they were earlier estimating Q4 growth to come at 6.1 per cent, which can get impacted by 0.2-0.3 per cent because of the Omicron threat. "With states imposing Covid-related restrictions (night curfew on movement of people, restaurants allowed at 50 per cent capacity, offices to operate at 50 per cent capacity in various states), economic activity is likely to get impacted in Q4FY22," they said.
India Inc's profit share in the country's GDP at 15-year low in 2018. Since 2013, net profit for top 500 companies has remained in the range between Rs 4 trillion and Rs 4.8 trillion despite steady growth in nominal GDP.
'India cannot allow Beijing's policy of stabilising and destabilising the border at will to perpetuate its own ends.' A riveting excerpt from Manish Tiwari's 10 Flashpoints; 20 Years National Security Situations That Impacted India.
SBI comes second and Bharti Airtel is third
The bank has already set up 68,000 'Yono cashpoints' and is in the process of scaling it up massively to over 1 million in the next 18 months, which will make the necessity to have a card even less.
UCO Bank will not allow Kingfisher Airlines to be represented by lawyers in the wilful default case hearing.
The other two companies were Spanco Limited (Rs 37 crore or Rs 370 million) and Arch Pharma (Rs 56 crore or Rs 560 million).
'For a responsible person like him to utter such nonsense is shameful.' 'He is not fit to be a director on the RBI central board.'
Deficits could come under more pressure in coming years as states implement their own Pay Commissions.
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
In 2006-07, TCS had employed 7,000 people in the eastern states.
Unless Punjab has a chief minister who is able to look beyond community/vote bank politics, carry all sections of society, stop appeasing while addressing genuine concerns and break the stranglehold of the SGPC over Sikh affairs, my beloved home state is bound to die and conversions will be rampant, warns Sanjeev Nayaar.
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