Bond issuances dipped 31.4% during January-June
Patra, as executive director of the central bank, was the principal advisor to the Monetary Policy Department since July 2012.
Equity benchmark Sensex rebounded 454 points on Thursday, boosted by gains in index heavyweight Reliance Industries amid a positive trend in global markets.
Anshuman Jain became the co-head of Deutsche Bank in 2012 along with Juergen Fitschen.
Gold as well as crude oil prices surged, with the latter even crossing the $103 per barrel mark. The domestic stock market opened deep in the negative territory, tumbling over 1,700 points and eroding investors' wealth by more than Rs 8 lakh crore in less than an hour of start of trade on Thursday.
Adani group stocks have taken a beating on the bourses after Hindenburg Research made a litany of allegations, including fraudulent transactions and share price manipulation at the Gautam Adani-led group. The group has maintained it complies with all laws and disclosure requirements.
For India's leading MFI-turned bank, the challenge is to stay competitive while pricing its loans
Norms governing investments by provident funds bar these from depositing funds in a commercial bank in case the NPAs of that bank exceed two per cent of net advances.
After a hiatus of nearly two decades, the government's programme to privatise state-owned firms restarted with the handing over of debt-laden national carrier Air India to the Tata Group. With the new owner shelling out Rs 18,000 crore for the buyout of the 'Maharaja', this would be the highest-ever amount garnered through privatisation, and is even more than the cumulative sum mopped up through strategic sales from 1999-00 to 2003-04. The government had in October last year inked the share purchase agreement with the Tata Group for sale of national carrier Air India for Rs 18,000 crore. Tatas would pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt.
The Indian Institute of Modern Management, Pune invites applications for its two-year, full-time, job-oriented post-graduate diploma in management.
Axis Bank was the top loser in the Sensex pack, shedding over 4 per cent, followed by Asian Paints, SBI, IndusInd Bank, ICICI Bank, Bajaj Finance, HDFC and Reliance. On the other hand, Bajaj Auto, Hindustan Unilever, UltraTech Cement, TCS, Bajaj Finserv and Infosys were the gainers.
'Consolidation was part of the Indradhanush package.'
'This is happening regardless of the Budget.'
'The actions of Indian monetary authorities will depend on how quickly they want the inflation to come down to 4 per cent.'
'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.
SBI was the top loser in the Sensex pack, shedding around 3 per cent, followed by Kotak Bank, IndusInd Bank, NTPC, ICICI Bank, Axis Bank and HDFC Bank. On the other hand, HUL, ITC, L&T, Bajaj Finserv and Tech Mahindra ended with gains.
Tamal Bandyopadhyay offers some unsolicited advice for a government wh,ich came to power, with brute majority and the nation's pragmatic chief money man.
Tamal Bandyopadhyay discusses his latest book Bandhan: The Making of a Bank at Bandhan headquarters in Kolkata.
Tata Steel was the top loser in the Sensex pack, sinking over 5 per cent, followed by SBI, IndusInd Bank, Bajaj Finance, HDFC Bank and NTPC. NSE Nifty tanked 371 points to 16,614.20.
According to NABARD, around 60% of India's population lacks access to financial institutions.
Concerned by GDP slowdown and unrealistic tax targets, the economists urged Finance Minister Nirmala Sitharaman to implement long-term structural steps like land and labour reforms. Warning against any off-Budget financing the economists said the government should prepare a statement of intent for its social, rural and welfare sector expenditure.
L&T was the top gainer in the Sensex pack, soaring around 7 per cent, followed by Bajaj Finance, IndusInd Bank, NTPC, PowerGrid, M&M and Axis Bank. On the other hand, Reliance Industries Bharti Airtel and Maruti were the laggards.
Here's the full text of Prime Minister Narendra Modi's address to a joint session of the United States Congress, delivered on Thursday.
'For the common man, the economic conditions are not going to get better.'
Bringing in the untapped informal sector into the formal one will benefit business.
IIM-B, professor R Vaidyanathan talks to Shobha Warrier about black money, Mudra Bank and Jaitley's Budget.
'At the heart of the strategic relationship between our countries are economic ties.'
'We have set out a timetable to reduce income tax rates for all incomes below Rs 50 lakh, and to progressively eliminate the surcharges on income above Rs 50 lakh, by 2024.' The Budget speech past CII president Naushad Forbes wants to hear.
One can expect significant changes at India's banks in ensuing months.
India's macroeconomic situation is certainly better than what it was a year ago, eminent economist Pinaki Chakraborty said on Monday, while expressing hope that the country will be back on the path of economic growth if there is no major third wave of the COVID-19 pandemic. In an interview with PTI, Chakraborty, who is the director of the National Institute of Public Finance and Policy (NIPFP), said that inflation may remain at an elevated level as there was a significant fiscal and monetary expansion in the last 18 months. "The current macroeconomic situation is certainly much better than what it was one year back. We are seeing recovery in most sectors," he said. Chakraborty noted that COVID-19 vaccination has been going on at a very fast rate in India.
SBI, PNB, Bank of Baroda, Canara Bank, Dena Bank, Central Bank of India ended down 3%-12% each.
Foreign Secretary Vinay Kwatra on Wednesday refused to speculate on whether the G20 foreign ministers' meeting would be able to come out with a joint communique against the backdrop of widening differences between the West and Russia on the Ukraine conflict.
Students pursuing professional courses can now get loans up to Rs 4 lakh (Rs 400,000) at concessional rates, following a directive from the government that banks should step up education loans.
There was a massive 24% decline in India's gems and jewelry exports to $2,321 million for September 2018 as against $3,053.38 million in the same period last year.
'The shadow banks are currently facing a liquidity and solvency crisis.' 'The danger is that it could potentially engulf the entire financial system because shadow banks have borrowed huge amount of money from banks, mutual funds, pension funds, and insurance companies.'
Finance Minister Nirmala Sitharaman on Saturday said the new tax regime will benefit the middle class as it will leave more money in their hands. Talking to reporters after the customary post-Budget address to the central board of the RBI, she said it is not necessary to induce individuals to invest through government schemes but give them an opportunity to make a personal decision regarding investments. "...the way we allowed for standard deduction and also the rates which have been fixed, tax rates which have been fixed for different slabs, it has actually left more money in the hands of the people, the taxpayer, the household," she said.
Non-Performing Assets are a wake-up call for public sector banks.
Public sector banks are inefficient, poorly governed and beset by largescale corruption.
According to highly placed sources, the finance ministry is likely to extend ECLGS and other loan guarantee schemes for micro, small and medium enterprises (MSMEs), hospitality and tourism sector, and the health infrastructure beyond March 31, Business Standard has learnt. This is likely to be announced by Finance Minister Nirmala Sitharaman as part of her Budget speech on February 1.
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