Sources close to the bank said non-executive and non-independent director Ajai kumar had been recommended for the interim CEO role.
India and China will escape the downturn that other countries in the world are expected to face.
Eight investment banks including HSBC and India's ICICI Securities and SBI Capital have submitted bids to manage a 10-per cent stake divestment in state-owned Coal India.
In January 2003, the American Finance Association awarded Rajan the inaugural Fischer Black Prize for the best finance researcher under the age of 40.
Go First's lenders have agreed in principle to support the airline's request for Rs 400 crore interim funding to restart its operations. The airline temporarily halted operations on May 2, and its insolvency plea was admitted by the National Company Law Tribunal (NCLT) on May 10. On Wednesday, the airline's resolution professional Shailendra Ajmera submitted a business plan and a request for over Rs 400 crore funding to airline's committee of creditors (CoC).
Forget Starbucks coming into India. Witness the expansion of Caf Coffee Day, which is set to mushroom across the country.
Like the US, India too has a sub-prime market and it is booming. The success of early entrants like Citi Financial and GE Money has encouraged several others to enter the consumer lending business, nearly half of which is a sub-prime market.
Citing the sharp rise in food prices, economists at a foreign bank have forecast a steeply higher retail inflation print for July, pegging it at 6.7 per cent, up 190 basis points from the previous month. Deutsche Bank India economists led by chief economist Kaushik Das, in a report on Monday ahead of the monthly inflation print and the Reserve Bank's monetary policy review, said that the July consumer price-based inflation index (CPI) is likely to print at 6.7 per cent on-year as against 4.8 per cent in June. The Reserve Bank is widely believed to leave the key interest rates unchanged for the fourth time in its upcoming bi-monthly monetary policy decision on August 10.
Emerging economies, including India, are set to return to sustained growth trajectory by 2011 on growing domestic demand even as the downturn in the developed economies is likely to continue for the next several years, a report has said.
After the crunch period of 2009, the private banking industry, which caters to high net worth individuals, is once again in growth mode.
India imports more than it exports, so the rupee's decline will hurt more than it may help.
Steps to improve governance, instill confidence in the government machinery and streamlining function across the different ministries are also important to feed the positive mood, the DBS report added.
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.
Bank of Baroda has relatively better position on impaired assets.
India's leading corporate houses like Mahindra & Mahindra, Hindustan Construction Company, HDFC, Deutsche Bank and a few others have joined hands to help re-building work skills for the hearing-impaired, who are otherwise healthy and normal but rema
The Budget for 2016-17 has announced a massive rollout of ATMs and micro-ATMs.
Among Sensex components, shares of Reliance Industries, India's largest company by market value, stole the show by surging 1.61 per cent to their highest in over three months.
In India, it is not easy to fight it out with the large banks which are nimble-footed and technology-savvy and are continuously innovating on the retail turf with newer products for customer acquisition.
Banks can collapse, markets can be rigged, investment instruments can become worthless overnight, auditors can fail to blow the whistle, board directors can be asleep, and regulators can be incompetent, notes T N Ninan.
Aviation watchdog DGCA will conduct a special audit of grounded airline Go First's facilities in the national capital and Mumbai from July 4 to 6 before approving the revival plan for resumption of flights, according to a senior official. Cash-strapped Go First stopped flying on May 3 and is undergoing a voluntary insolvency resolution process. Meanwhile, a senior executive at the airline expressed hope of resuming ticket sales -- which was paused by DGCA following the grounding of the carrier -- from July 7 or July 8 and subsequent relaunch of the operations from middle of next month.
India can attain a higher GDP growth of 7-8 per cent annually to become the third largest economy after the US and China by 2020
Irrespective of demonetisation and GST blues, IIM Lucknow has been able to successfully place their batch of 459 students.
For the near term, Gill will have to improve relations with the Reserve Bank of India, which have been strained in recent times. He will also need to strengthen the bank's asset quality and improve governance standards and internal processes.
Billionaire Gautam Adani's group is planning to build 10 GW of integrated solar manufacturing capacity by 2027, as it looks to capture energy transition business, sources close to the company said. Adani Group currently has a solar manufacturing capacity of 4 GW. Adani Solar has a confirmed order book of over 3,000 MW in exports that are to be serviced over the next 15 months, they said, adding Adani, recently, raised $394 million for solar manufacturing from Barclays PLC and Deutsche Banks AG through a trade finance facility.
Speculation is growing that Anshu Jain may take over as the co-head of Deutsche Bank.
There is a dearth of talent in the Indian banking industry. A testimony to this is the two new CEOs in the private sector -- Sandeep Bakhshi in ICICI Bank Ltd and Amitabh Chaudhry in AXIS Bank Ltd -- have come from the insurance sector, says Tamal Bandyopadhyay.
Deutsche Bank expects the Sensex to climb only 8% in 2017 to 29,000, and expects high volatility.
The regulatory actions, undertaken by the RBI and the government, came hours after finance ministry sources confirmed that SBI was directed to bail out the troubled lender. For the next month, Yes Bank will led by the RBI-appointed administrator Prashant Kumar, an ex-chief financial officer of SBI.
Deutsche Bank bid the lowest--which was promptly matched by five others--according to the sources. They said DB quoted 0.00000000001 per cent of the issue size as bankers' fee. That works out to 80 paise. The banks were apparently willing to waive the fee altogether, but what deterred them was that UBS was recently disqualified on technical grounds from the NTPC FPO as it had quoted nil fee.
The loans are backed by a government guarantee.
A below-normal monsoon can bring down India's GDP growth by 0.50-0.75 per cent this financial year, forcing the Reserve Bank to delay rate cuts to 2015, Bank of America-Merrill Lynch (BofA-ML) said.
"Less than 10 per cent of all publicly announced job cuts at European banks since 2002 are due to offshoring. Internal restructuring accounts for the lion's share," according to a latest research report by German banking giant Deutsche Bank.
Debt levels of BRIC governments -- Brazil, Russia, India and China -- are likely to remain more or less unchanged during the next five years, while it will rise "dramatically" in the US, Japan, and the UK, says a report.
The BRIC (Brazil, Russia, India and China) economies will continue to grow significantly even as economic giants across the world are getting affected by the recessionary fears, says a report.
Indian firms have seen a significant fall in orders in the year-to-date period.
Apart from navigating the bank through the Covid crisis, Jagdishan may also have to deal with the latest development on the auto loan lending practice scam. He will be expected to deliver consistent profit growth of 20 per cent-plus quarter after quarter, irrespective of the operating environment.
