Privatisation or consolidation into half a dozen large banks might not rescue public sector banks from the crisis they find themselves in.
'Today, bankers don't want to take risks as the good decisions taken by them were not protected.' 'There is risk involved in all decisions, like businessmen taking risks in their businesses.' 'A banker must have taken a decision when the economic condition was different, and you cannot question him on the basis of the present situation in hindsight.' 'Naturally, this has affected the morale of bankers.'
The enforcement agency is looking to ensure that no big deals or transactions, such as the one Mallya struck with Diageo for Rs 500 crore, take place.
SBI leads a 17-member consortium of lenders that is trying to recover dues running into over Rs 7,500 crore (Rs 75 billion) in principal alone from Kingfisher Airlines.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
SBI-led consortium of 17 banks had a total exposure of about Rs 6,500 cr to Kingfisher Airlines.
'SBI is already too big. Too big to fail.' 'It already is a moral hazard. What will it do with 20,000 branches that it cannot do with 14,000, especially in these days of online and mobile banking?'
AS Bindra, the father of ace shooter and Olympic gold medallist Abhinav Bindra, has defaulted to banks and financial institutions. The money claimed from Bindra is over Rs 75 crore (Rs 750 million). He had borrowed it in the 1990s to set up a meat processing plant under Punjab Meats Ltd.
Asian shares ended higher after a string of positive US economic data.
The court had, however, rejected ED's request for attachment of the liquor baron's overseas properties
RBI has, since January, cut its policy rate four times.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
R H Patil was on Thursday appointed chairman of UTI Asset Management Company, the country's largest mutual fund.\n\n
Capital goods shares continued to trade firm in late noon despite weak market trend on the back of encouraging core sector growth in February.
A consortium of six banks led by IDBI will finance the project to the tune of Rs 1,194 crore (Rs 11.94 billion), Rs 512 crore (Rs 5.12 billion) will be raised through equity while Rs 650 crore (Rs 6.5 billion) will come from the MMRDA as capital subsidy. The closure is unique in many ways as nearly Rs 200 crore (Rs 2 billion) have been spent on the project before the financial closure.
Gas prices have fallen to $10 per million British thermal unit. But the fate of the power project, run by Ratnagiri Gas and Power Pvt Ltd, will hang in balance till the committee takes a decision on gas pooling, reduction in certain taxes and providing per unit subsidy.
A customer wanting to buy a car would have to wait a long time for delivery.
Even as you fight the ongoing health challenge, here are some tips to strengthen your personal finance in the time of coronavirus.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' stock market queries. Ajit will offer his unbiased views on a weekly basis
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The NSE 50-share Nifty also closed higher by 61.60 points, or 0.59 per cent, at 10,504.80 after shuttling between 10,513 and 10,441.45.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Middle class Indians have grown up with the belief that living on credit is essentially a bad thing. You are in trouble if you think the same, cautions Rajiv Raj
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' stock market queries. Ajit will offer his unbiased views on a weekly basis
Beleaguered liquor baron Vijay Mallya on Wednesday announced he will retire as chairman of Sanofi India and will not seek reelection as a director of the drug maker.
Nifty September F&O series ended lower after seven consecutive positive series with Metal Index falling the most
'The approach towards Mallya is not right because his unit could have been turned around earlier with additional funds from his side and the bank's side.'
Pharma shares were the top gainers led by Lupin after the company received EIR from USFDA for its Goa facility
The S&P BSE Sensex ended down 371 points at 24,966 and the Nifty50 closed 101 points lower at 7,615.
Dabhol's assets will be demerged into the power plant and the LNG terminal.
'MFs acted as reckless lenders and not as prudent investors.' 'Clearly, how debt funds are being run is a systemic issue,' warns Debashis Basu.
The Securities and Exchange Board of India does not seem to have understood the enormity of what funds have been up to. If Sebi does not crack down on mutual funds using cooked-up credit ratings to hide behind promoter funding, this is bound to grow into a systemic menace, says Debashis Basu.But MFs decided to become lenders without the legal backing to secure themselves, or the skillset to assess lending risk. If Sebi does not crack down on mutual funds using cooked-up credit ratings to hide behind promoter funding, this is bound to grow into a systemic menace, says Debashis Basu.
The S&P BSE Sensex ended up 28 points at 25,844 and the Nifty50 ended flat at 7,915.
The BSE Midcap ended up 0.5% while the Smallcap index ended nearly 1% higher
Experts hail Budget 2015 as a progressive, growth oriented one.
It is hoped that the decision of India's apex court will send a signal to politicians and their cronies from the world of business that the rule of the law does eventually prevail, says Paranjoy Guha Thakurta.
New strategy for Infosys by October, says Nandan Nilekani. New chairman's other priorities: Hiring CEO, reviewing Panaya probe reports.
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