Analysts say there is still no visibility of earnings improvement.
Judge Andrew Henshaw refused to overturn a worldwide order freezing Mallya's assets and upheld an Indian court's ruling that a consortium of 13 Indian banks were entitled to recover funds amounting to nearly $1.55 billion.
Of the total 53,334 cases of frauds reported during 2008-09 and 2018-19 fiscal years, involving a whopping Rs 2.05 lakh crore, a highest of 6,811 cases were reported by the ICICI Bank.
The Reserve Bank has asked the public to pay their income tax dues well in advance so as to avoid standing in long queues and stated that 29 agency banks are also authorised to accept such payments.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The enforcement agency had received queries from the Interpol to this effect in May last week.
The trouble-torn 2,184 MW Dabhol power project is all set to be restarted with General Electric, one of the major equity holders, slated to reach an agreement with Indian financial institutions by this month end.
The Industrial Development Bank of India-led consortium will meet the foreign lenders in London on Wednesday for taking over their outstanding dues in the troubled Dabhol Power project.
Anil Khandelwal, Chairman of Bank of Baroda, expects a 25% credit growth in FY07. He says that BoB did not bid for UWB due to their existing presence in Maharashtra. He adds that the UWB branches will give IDBI good reach and size.
The Bombay high court has given its go ahead for transfer of assets of the 2,184 MW Dabhol power plant to Ratnagiri Gas and Power Pvt Ltd, paving the way for restarting the plant before the end of 2006.
Kotak Mahindra Bank's acquisition of ING Vysya Bank is the country's first ever amalgamation of a profit earning entity post the global financial meltdown in 2008.
PNB reported the maximum number of such frauds.
R H Patil was on Thursday appointed chairman of UTI Asset Management Company, the country's largest mutual fund.\n\n
The Empowered Group of Ministers looking into the Dabhol power project fiasco is likely to meet on Friday to discuss ways to restart the plant that has been lying idle for over three years.
The Empowered Group of Ministers, which is looking into the debacle of the Dabhol power project
The banks used for the fraud include ING Vysya Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, IndusInd Bank, Dhanlaxmi Bank, YES Bank and DCB Bank.
However, it is understood that the liquor baron has suggested his legal team can help ED in taking the probe forward.
A detailed assessment and internal inspection of the Dabhol power plant equipment by concerned parties including NTPC, GE India and Bechtel is necessary to ascertain the time frame for restarting it.
Why doesn't anybody ask the PSU State Bank of India under RTI on how much they are spending on legal fees trying to recover money from me in the UK when I have offered 100 per cent payback in India, asked Mallya.
RBI had asked banks to price fixed rate loans of up to three years based on marginal cost of funds from April 1
First case filed after new norms come into force, NCLT admits plea.
'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.'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The government will soon come up with detailed guidelines for private banks including hike in the foreign holding from 49 to 74 per cent and allowing foreign banks to set up subsidiaries in the country.
