Conversion of debt of the stressed telecom player Vodafone Idea Ltd (VIL) into equity could be an option to emerge out of the crisis, lenders led by State Bank of India (SBI) have suggested to Department of Telecommunications (DoT). DoT had called senior bank officials on Friday to discuss the stress in the telecom sector arising out of the Supreme Court order last month on the adjusted gross revenue (AGR)-related dues payable by telecom majors, including Vodafone Idea and Bharti Airtel, sources said. The top court has given a time period of 10 years to telecom service providers struggling to pay Rs 93,520 crore of AGR-related dues to clear their outstanding amount to the government.
State Bank of India has appointed valuer to assess the value of assets of Mallya.
A three-member delegation of the Indian Banks' Association met senior executives of the US Federal Reserve and New York Banking Department to explore the prospects for increased presence of Indian banks in the United States.
Moody's Investors Service has changed the outlook for the long-term foreign currency deposit ratings of a number of Indian banks -- currently rated Ba2 -- from 'negative' to 'stable' for India.
The Reserve Bank of India's (RBI's) move to ban Mastercard from issuing new cards for not complying with the local data storage guidelines may hit five private banks, a non-bank lender, and a major card-issuing company. The impact is expected to be felt for a few months as these players transition to other card networks. According to Nomura Research, RBL Bank, YES Bank, and Bajaj Finserv are the ones most impacted by the ban as all their credit card schemes are allied to Mastercard. Among others, IndusInd Bank, Axis Bank and ICICI Bank have 35-40 per cent of their credit card schemes tied to Mastercard, the report said.
Mark-to-market risks to the Indian banking sector are limited and manageable, says RBI
Sunday Seah and Mohammed Gafari's first half strikes propelled Dempo to a convincing 2-0 win over Indian Bank.
A second-half blitz gave the Goa side a 4-1 victory in the National Football League.
As the fight for deposits intensifies, the cost of money will rise and the margin will be under further pressure, points out Tamal Bandyopadhyay.
Gross NPAs of commercial banks in FY08 escalated by Rs 61.36 billion, according to the Reserve Bank of India.
Dudu Omagbemi scored a hat-trick as the former champions won the National Football League match 4-2.
Among the assets in question include the Force India and Indian Empress super-yacht - which was fitted with an Elton John piano around 2015, a fleet of high-value cars and some artwork from Mallya's Ladywalk property in the English village of Tewin in Hertfordshire.
International credit ratings agency Moody's Investors Service changed its outlook for India's banking system to negative from stable due to concerns that an increasingly challenging operating environment will adversely affect asset quality, capitalisation, and profitability.
Indian banks are facing restrictions in opening new branches in the US, Finance Minister P Chidambaram told the Rajya Sabha on Tuesday.
A fine brace by Brazilian striker Marcos Pereira gave the Goa side full points in the National Football League match.\n\n
Mallya is separately fighting extradition to India on fraud and money laundering charges worth an estimated Rs 9,000 crore
'We are also conducting ongoing training and grooming at the branch level to pre-empt such cyberattacks.'
Fifty per cent of bank restructured assets were in infrastructure, steel, power and telecom sectors.
Moody's Investors Service on Wednesday said the outlook for global banks for 2024 is negative as central banks' tighter monetary policies have resulted in lower GDP growth. It said Indian banks' profitability will increase further on lower provisioning expenses and robust growth in higher-yielding retail segments. "Our outlook for global banks for 2024 is negative as central banks' tighter monetary policies have resulted in lower GDP growth.
A stress test on 30 Indian banks, which account for 78 per cent of the banking system's assets, indicates that capital is protected for a majority of the banks. However, some weak banks would need to raise core capital to guard against the effects of the current downturn in the credit cycle, Fitch said in a statement.
More than half a dozen private-sector banks are awaiting regulatory approval for the appointment of a second whole-time director on their boards.
American banking major Citibank on Thursday announced that it will exit from the consumer banking business in India as part of a global strategy. The business comprises credit cards, retail banking, home loans and wealth management.
Postings to places at an altitude above 1,000 metres but less than 1,500 metres, between 1,500 and 3,000 metres, and above 3,000 metres entail different rates of allowances -- the higher the location, the bigger the allowance, reveals Tamal Bandyopadhyay.
Moody's expects that India will record the GDP growth of around 7.5 per cent in 2015 and 2016.
He claims that his offer to pay back the debt owed by his now-defunct airline had been rebuffed by the banks and the Indian government.
Bahrain has of late emerged as a regional hub for banking because of low tax rates and easy regulations. At present, 409 banks and financial institutions have operations there.
Indian Bank on Tuesday launched IndRemit, an online money transfer service that allows Non-Resident Indians in the United States to make online money remittance to India.
Rs 2.06 trillion, is the gross non-performing assets of Indian banks.
While the first three parts of the operation, codenamed 'Red Spider', dealt with Indian banks (both private and state-run), the fourth part targeted a couple of foreign banks.
The goalkeeper turned in a fine display as the bankmen beat Mahindra United 2-1 in the National Football League.
The sub-prime mess has presented the foreign units of domestic banks with lucrative investment opportunities. Global banks, struck by a severe liquidity crunch and risk aversion, are selling a lot of their investments in debt of Indian companies at a discount.
Sri Lankan defender Kamaldeen Fuard's 40-yard strike enabled the bankmen hold the defending champions 1-1 in the National Football League.
The Kolkata side rallied to scored a 3-2 victory in the National Football League.
Indian banks have the potential to go global, says ICICI Bank chief Chanda Kochhar.
Branch licensing (process) for Indian banks is rather slow in the US
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