The country's largest private lender, ICICI Bank, on Monday said it expects lending rates to go up after September as credit offtake is likely to pick up in the second half of the current fiscal.
The Reserve Bank of India's move to pause its hawkish Monetary Policy stance is on expected lines as high interest rates affect the economic growth, bankers and analysts said.
Its registration is unusual because the firm appears twice in the RoC database, but different identification numbers.
The visiting US treasury secretary Timothy F Geithner today said Washington will closely work with New Delhi to promote a more balanced and greater economic cooperation between the two nations.
The committee is considering 1,300 names for this year's awards from which it is likely to select 120.
These are the highest-earning bank CEOs in India.
The RBI, according to the source, wants details on the procedure followed for credit appraisal by the bank while giving loans to Videocon.
Indian govt is trying hard to get global investors to invest in the country.
It was merely an obligation in the past, but financial inclusion has now turned into a big business opportunity for private banks.
Industrialists Anand Mahindra and Ratan Tata will co-host a power lunch for CEOs with the visiting US Treasury Secretary Timothy Geithner on April 7.
If India grows at 8 per cent, the Indian banks will grow much faster.
Markets regulator Sebi has ordered the attachment of bank and demat accounts as well as mutual fund holdings of Videocon Group founder Venugopal Dhoot to recover dues totalling Rs 5.16 lakh. The latest decision has been taken after Dhoot failed to pay the fine imposed on him in March by Sebi for not making disclosures about his interest in Supreme Energy as well as for not disclosing that Quality Techno Advisors Pvt Ltd (QTAPL) and Credential Finance Ltd (CFL) were related parties with respect to certain transactions. In an attachment notice on Monday, Sebi said the pending dues of Rs 5.16 lakh include the initial fine of Rs 5 lakh, interest of Rs 15,000 and a recovery cost of Rs 1,000.
For one, women comprise almost half of India's population, yet less than 5 per cent women are corporate directors and less than half of that are independent directors.
An app by the bank lets customers carry out a slew of banking functions via the social media site.
Chanda Kochhar, CEO and managing director of ICICI Bank, spells out ICICI's work culture and employee philosophy.
United States Secretary of State Hillary Clinton on Saturday had a breakfast meeting with top honchos of India Inc at the iconic, sea-facing Taj Hotel in Mumbai. Amongst those from India Inc who were present at the meeting included Ratan Tata, chairman of Tata Group and Reliance Industries' Mukesh Ambani. Others present were the chiefs of India's two largest banks, O P Bhatt of State Bank and Chanda Kochhar of ICICI Bank, Swati Piramal and Sudha Murthy.
India Inc on Monday welcomed the focus on reviving economic growth to nine per cent as also the indications for bold tax reforms, but expressed regret that the Minimum Alternate Tax was raised and Security Transaction Tax was let to continue.
Home, consumer, corporate and personal loans are likely to become cheaper with the Reserve Bank cutting its key short-term repo rate by 1 per cent to 8 per cent, the first since 2004, bankers said. After slashing the cash reserve ratio by 2.5 per cent from 9 to 6.5 per cent with effect from October 11, the Reserve Bank cut the repo rate on Monday, which is the rate at which banks borrow from the apex bank.
Puri earned a salary of Rs 7.39 crore in FY15, up 21.74% from last year
Bankers on Tuesday said interest rates have bottomed out in the second quarter and rates may start rising in the coming months in line with a pick-up in credit off take, expected on the back of a revival in the economy.
'When Pinnacle Trust bought the stake of Supreme Energy, it included a liability of Rs 640 million. The purchase was at a fair market value (prevailing price) of Rs 8.80 per share,' Deepak Kochhar said in a telephonic conversation with Business Standard.
The bank has increased its spreads or mark-up over base rate paid by a borrower by 0.10 per cent.
The ICICI board is looking to the retired petroleum secretary to provide 'maturity and sagacity'.
HDFC Bank managing director Aditya Puri, ICICI Bank MD and CEO Chanda Kochhar, and Axis Bank MD and CEO Shikha Sharma did not receive their bonuses in full for financial year 2016-17
With the 50 bps rate cut now more banks are expected to reduce their base rate.
SBI's Bhattacharya is ranked second on the list, while ICICI's Kochhar is 5th and Axis's Sharma is 19th in the Fortune list
Of the existing set of potential leaders, Bakhshi was clearly the only choice as he beat out other high-level candidates that included executive directors Anup Bagchi, Vishakha Mulye, NS Kannan, and Vijay Chandok who were lacking the all-round game that Bakhshi has.
The agency's poor track record in convictions is the only light at the end of a rather long tunnel for the couple, observes Shyamal Majumdar.
Governor Raghuram Rajan lowered the benchmark repurchase rate to 7.75 per cent from 8 per cent, the first reduction since May 2013.
Pictures from the Swachh India campaign.
However, the remuneration of Puri and Kochhar are not strictly comparable as the two banks follow different accounting practices.
Other private banks also planning to employ bots soon
The bank, which has suffered reverses following a massive spike in dud assets and also the dismissal of its chief executive Chanda Kochhar over governance issues, however, hinted that the worse is behind.
India's top banker Chanda Kochhar shares valuable life lessons in a letter to her daughter.
'We focused on de-risking our balance sheet but we are very clear that the steps we have taken over the past few years, about changing the proportion of the loan mix, improving the ratings of the incremental portfolio, and reducing the concentration risks have now created a strong position that will allow us to attain growth with stability.'
Black and gold dominate the red carpet!
The bank's overall exposure to the 40 select accounts referred by the Reserve Bank to be resolved under bankruptcy laws is Rs 15,229 crore
Chanda Kochhar is among the three Indians in Time's Most Influential list.
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