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 veteran IM won the National women's 'B' chess title on better progressive scores.
The assets mentioned in the Sebi order are already in possession of the ED for violation of an anti-money laundering law by Mallya and PMLA overrides all other laws, providing ED first right over the assets.
As per the existing process of law under the PMLA, the ED could confiscate the assets only after the trial in a case finishes which usually takes many years.
This comes at a time when competition has increased significantly.
With the management of most State-owned banks hardly having time to concentrate on big-ticket business, growing the business of loan disbursals has been pushed down the priority order.
Idea Cellular Ltd has achieved financial closure of over Rs 2,225 crore for its telecom venture with a project cost of around Rs 5,000 crore from IDBI Ltd and Rabo India Finance Pvt Ltd.
Power Ministry on Tuesday held discussions with National Thermal Power Corporation and financial institutions, including IDBI, as part of efforts to restart power generation at the idle Enron-promoted Dabhol Power project.
The finance ministry is not in favour of providing further budgetary support to ailing IFCI, but is considering a proposal to restructure the oldest financial institution and then merge it with a major bank or FI other than IDBI.
The treaty can be invoked in a criminal probe case seeking the transfer of persons, including persons in custody, for the purpose of assisting in investigations or giving evidence
Moody's Investors Service on Thursday downgraded subordinated debt ratings of 11 Indian banks, including SBI, ICICI Bank and HDFC Bank.
Probe agency to set up special software to probe money trail in the case.
The economic slowdown took a heavy toll on some of the financial institutions like IDBI, IFCI and IIBI, with the cumulative loan disbursement falling by 22.4 per cent at Rs 17,878 crore in the last fiscal.
The overdues of Essar group as reported by ICICI, IDBI, IFCI and the RBI totaled Rs 1,039 crore, Minister of State for Finance and Company Affairs Anandrao Adsul said Tuesday.
Indian banks are the 2nd-fastest-growing ones.
Allowing it to lapse leaves you unprotected and can, in some cases, cause loss of premiums paid, experts tell Sanjay Kumar Singh.
Nifty saw the biggest weekly gain since the first week of September and comfortably maintained its crucial 8250 levels in today's session
Most of these road contracts are spread across Andhra Pradesh, Haryana, Karnataka, Odisha, Rajasthan, Tamil Nadu, Uttarakhand and West Bengal, with the government struggling to restart them.
Birla Sun Life Mutual Fund, which manages assets over Rs 9,000 crore (Rs 90 billion), is eyeing acquisition and targets to grow by over 30 per cent this fiscal.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your mutual funds-related queries.
Over two dozen companies have announced bonus issue so far in 2017
'For so many years, I did whatever I wanted to do and the camera captured that.' 'But then suddenly I was asked to do particular things and then the camera captured that, so it was a bit different for me, a big change.'
Unlike in the past, when old private banks compromised upon underwriting standards to take on the bulk, they've now realised that scaling up at the cost of quality isn't worth the while. These banks have also readjusted growth targets when required, and rebalanced books to preserve capital and asset quality.
SFIO is looking into the role of Grant Thornton LLP which had valued the brand.
Mallya in a tweet distanced himself from an interview that quoted him saying that time was not 'right' to return to the country
British magistrate presiding over Mallya extradition case says India's prison standards are not up to the mark
The agency is looking at alleged "diversion of funds and financial reporting frauds".
The total quantum of non-performing assets in the Indian banking system increased to Rs 7.33 trillion as of June 2017, from Rs 2.75 trillion in March 2015.
From crisis leaders to future Goliaths, India Inc saw them all in 2017, says Shailesh Dobhal.
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