Bankers seem to be pleased with the government for keeping its promise of not interfering in operational matters, but are apprehensive about the intense scrutiny of their functioning.
Of the three major Budget announcements related to the banking sector, privatisation of PSBs is the most audacious, says Tamal Bandyopadhyay.
IHMCL implemented the FASTag electronic tolling of national highways, but due to technical glitches, road ministry is mulling the option of offering this job to a Korean company
COVID-19 forced people to work from home turned into the fuel for new demat accounts, observes Debashis Basu.
'We try to pick up stocks early and hold onto them for the long term.' 'We are not someone who buys and sells on a daily basis.'
On February 11, 2009, Subhiksha announced that it was closing down all its 1,600 outlets till May 2009.
Vikas Khemani, President & Head-Institutional Equities, Edelweiss Securities, feels Finance Minister Pranab Mukherjee could really make Union Budget 2012-13 an important one.
Let all the stakeholders, especially the government, remember that if the Make in India lion needs to roar and rise again, it won't happen unless India Inc rises too, points out Shekaar Subramanian.
'When bankers are hounded by investigative agencies for credit decisions going wrong and defaulters are treated like outcasts, who will borrow money and who will lend?' asks Tamal Bandyopadhyay.
The Prevention of Money Laundering Act, 2002, requires all financial institutions, banks and intermediaries like merchant bankers, FIIs and stock brokers to submit reports on suspicious transactions above Rs 1 million in Indian or foreign currency. According to FIU's annual report for 2007-8, while the agency received 2.2 million such cash transaction reports from banks, other financial intermediaries put together have submitted only 2,500 suspicious transaction reports.
The finance ministry has put out a revised draft in public domain.
Experts said equity raising was also hampered due to flight of capital from foreign investors. FIIs have sold more $500 million (Rs 3,200 crore) in October.
'There are deeper, underlying, forces at work and we need institutional arrangements to guard against them.'
Stressed MSME borrowers would be eligible for restructuring of debt, if their accounts were classified standard.
For large start-ups the US market is considered to be a preferred destination, as Indian investors were seen as hesitant to pay the kind of valuation private equity investors or the US markets pay. However, Zomato's listing has quashed these notions.
Why are investors gung-ho about State Bank? asks Tamal Bandyopadhyay.
If indeed the gate opens for big industrial houses, the RBI needs to be smarter than them and demonstrate it through action, not reaction, observes Tamal Bandyopadhyay.
Relations with the government, the bank's majority owner, are a tricky issue for all SBI chiefs, and, like all his predecessors, Khara will be closely watched for his equations with the finance ministry representative on the SBI board.
The market buzz is that the GoAir promoters are hoping for a valuation that is at least a little more than double its closest rival SpiceJet.
The second day of the placement season at Indian Institute of Technology (IIT) - Madras on Tuesday saw e-commerce major Flipkart Internet Pvt Ltd recruiting 19 students - the highest offer so far this season.
'Those who come from outside are surprised at the relatively small strength of the RBI supervisory cadre, relative to the needs of the country and the needs of the financial sector.'
Why can't we have a sunset clause for the ARCs, which is a global norm? questions Tamal Bandyopadhyay.
In the new decade, the scene will change because the banks till recently had been challenged by the fintechs, but the techfins have now entered the arena, observes Tamal Bandyopadhyay.
'What made him different was that he was not a banker at all by temperament.' 'He was a businessman, a typical lalaji at that.' 'He had to win at any cost.'
The collection of mostly small and medium sized businesses is a hotchpotch of ventures and include design schools, schools, villas for hire in Goa and a country club in Gurgaon.
Banks operating in India reported fraud of Rs 4.92 trillion as on March 31, 2021, which represents nearly 4.5 per cent of the total bank credit, showed Reserve Bank of India (RBI) data, which was sought under the Right to Information (RTI) Act by Saurabh Pandhare. The data showed 90 banks and financial institutions reported a total of 45,613 cases of loan fraud till March 31, 2021. State Bank of India - the country's largest lender - reported the highest amount of loans as fraud - Rs 78,072 crore as on March 31, 2021.
The Department of Telecommunications (DoT) has initiated discussions with banks to address financial stress in the telecom sector, particularly Vodafone Idea Ltd (VIL) that urgently requires fund infusion to stay afloat. There was a meeting of DOT officials and senior bankers on Friday on the issue of Vodafone, sources said, adding that banks have been asked to look for a solution within the prudential guidelines. According to sources, senior officials from the country's biggest lenders State Bank of India and Bank of Baroda were also present among others in the meeting. More such meetings are expected to take place in the coming days, they said.
Commercial banks are also expected to be soft on loan repayments and restructure the loans, if not write them off.
The insolvency and bankruptcy code will strengthen the hands of lenders to recover outstanding debts by setting a deadline of 180 days for companies to pay or face liquidation
'In their over-enthusiasm to clean up the system, both the banks and the regulator should not forget that the key to the insolvency law is revival of companies -- recovery of bank dues is an offshoot of that,' points out Tamal Bandyopadhyay.
Under KV Kamath's leadership, ICICI Bank's revenues grew multi-fold.
After the recent attack on debit cards exposed the gaps in their security systems, banks are getting serious about data privacy.
Sources now believe that the next few months can see more companies raising money through qualified institutional placements and private equity. The success of the Unitech and DLF block deals have encouraged other companies to jump onto the bandwagon.
After a long gap, the Reserve Bank of India on Tuesday allowed registered foreign institutional investors and their sub-accounts to short-sell, lend and borrow equity shares in Indian companies.
Experts said the 20 per cent drop in the market poses a challenge for companies that have set the ball rolling on their IPO plans as valuations will now have to realign. This could entail more dilution or lowering of the issue size.
The government kept its nerve in the face of a massive shock. It chose not to resort to a massive fiscal stimulus. It focused instead on providing liquidity support and easing restrictions on movement in stages, observes T T Ram Mohan.
Union Finance Minister P Chidambaram will meet the heads of public sectors banks and financial institutions, like IFCI and Small Industries Development Bank of India (Sidbi) on Tuesday to review their performance for the second quarter ended September 2008.
'I want to leave behind the bank stronger and better than when I took over.'
