'If there is a technical issue and the borrowers can resolve it within 30 days, you don't have to go through the bankruptcy court.' 'If the borrower is expecting a large disbursal of a facility or expecting a payment or receivables, in such cases it becomes practical to give a window for taking care of such circumstances. 'If banks had aggregated the assets and benefited with a long relationship with borrowers and now when assets get into a trouble, it is incumbent on banks to find resolution and take responsibility.'
Indian consumers are very much interested in owning and using pre-paid payment cards which affords a great opportunity for Indian banks and other financial institutions in this segment, a survey said here.
Indbank Merchant Banking Services (Indbank), a subsidiary of public sector Indian Bank, opened its first 'trading cafe' for stock trading in Chennai. It plans to open another 20 such cafes and 18 new branches during 2008-09 across the country.
PSBs were required to bring down government shareholding to at least 75 per cent, to comply with the amended Securities Contract (Regulations) Rules by August 2017.
'When an institution believes its knowledge and capability is superior to everyone, it behaves like a frog in the well.' 'And this is precisely the cause for the mess,' says J N Gupta.
Doubts about Force India being able to race at Spa, the first Grand Prix since the August break, emerged on Wednesday with reports of legal complications.
A day after large banks such as Punjab National Bank and IDBI Bank increased base rates, state-run lenders Indian Overseas Bank and Indian Bank followed.
The report also revealed the parlous finances of the Vijay Mallya-owned team at the time they were taken into administration last July.
Bank provides for Rs 7,178 crore, or 50 pf of the total amount of the Rs 14,356 crore scam, in the fourth quarter of 2017-18. The remaining amount will be covered in the three quarters of the current fiscal year.
The recent spate of rate reductions is among the sharpest in one shot since the cuts that followed the 2008 financial crisis
In all, 292 allegedly fraudulent LoUs and 224 foreign letters of credit were generated and money sanctioned to Nirav Modi's companies since 2011
They said creditors would be paid in full and all 405 jobs at the Silverstone-based team, that was co-owned by embattled Indian businessman Vijay Mallya and finished fourth last year, were safe.
'Under Modi Ji's 'Jan Dhan Loot Yojana', another scam!' he tweeted.
Day Two after the banks reopened following the prime minister's demonitisation announcement, the scenario remained just as chaotic as Day One, reports A Ganesh Nadar/Rediff.com.
The choice clearly is between prompt corrective action and slow but sure destruction, says Tamal Bandyopadhyay.
One incident should not be used to generalise the health of all cooperative banks, says RBI governor Shaktikanta Das.
Rising bad loans continued to haunt public sector banks (PSBs) in the March 2016 quarter.
There has been speculation within Formula One that Lawrence Stroll, the billionaire father of Canadian driver Lance, is willing to invest in Force India as part of a move for his son from Williams.
Promising swift action on the debit card data compromise issue, Economic Affairs Secretary Shaktikanta Das on Friday said there was no need to panic over the feared security breach that affected over 32 lakh cards.
The inefficient public sector with higher costs offers a lobbying cover for the entire sector, which confers even greater benefits on the private sector.
Business is down to such an extent that last year these firms could not even meet RBI's capital norm of Rs 50 million for partnerships and Rs 100 million for public and private firms in this line of business.
The Rs 11,400 crore PNB fraud saga unfolded after a bribery complaint by the Hong Kong branch of an Indian bank.
The provisions in the FRDI bill do not modify current protections for depositors adversely at all, the ministry held, maintaining that these rather provide additional protections in a more transparent manner.
The minister said that the priority for him will be "rolling out all stuck highway projects that include many of the IL&FS projects within 100 days".
The Indian businessman, who has a 42.5 percent stake, said there was a possibility of main sponsor BWT getting more involved and changing the team's name.
Money parked by Indians in Swiss banks rose over 50 per cent to CHF 1.01 billion (Rs 7,000 crore) in 2017, reversing a three-year downward trend amid India's clampdown on suspected black money stashed there.
Urjit Patel, Binny Bansal, Nirav Modi and Rahul Gandhi personify the big trends that defined 2018. Well, almost...
The company secured independent valuation for these properties and had shared the same with Mallya
Meanwhile, for the fortnight ended March 20, deposits grew 11.42% y-o-y.
With bank stability still high on corporate and investor agenda, Global Finance publishes its 18th annual list of the world's safest banks.
As their non-performing assets have risen sharply even as loans have remained stagnant, RBI steps in with stringent loan-management measures.
The recapitalisation, the finance minister said, will enhance the lending capacity of state-owned banks and help them come out of RBI's Prompt Corrective Action framework.
Once criticised as inhibitory, India's strict regulatory norms have protected local banks from the global financial tsunami.
On a sequential basis, banks have had to set aside a substantial amount for bad loans, up 30 per cent from Rs 3,459 crore in the June quarter to Rs 4,508 crore.
The 14 banks, led by State Bank of India, which lent Rs 6,500 crore (Rs 65 billion) to the airline, are now involved in litigation over the money, as Mallya has sued them in multiple courts.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
'We are working to put up an actual plan in play to deal with the banking situation, which is top of our agenda,' finance minister tells Harvard University students.
The ability of banks to continuously tap funds through the central bank's Liquidity Adjustment Facility lowers their need to raise cash in the markets, which has thwarted the development of a proper money-market yield curve.
Report says stressed asset level to peak at 15% in 2014-15.
