Of the three major Budget announcements related to the banking sector, privatisation of PSBs is the most audacious, says Tamal Bandyopadhyay.
Recalibrating data of past years using 2011-12 as the base year instead of 2004-05, the Central Statistics Office estimated that India's GDP grew by 8.5% in the financial year 2010-11 and not at 10.3% as previously estimated.
Consumers are paying an exorbitant 180 per cent tax on petrol, and 140 per cent on diesel in Delhi and in most other towns in India. Little wonder then that the central government expects a staggering Rs 3.46 trillion by levying excise duties on retail sale of the two fuels this year, and Rs 3.2 trillion the next. States would generally have had reason to cheer, as they command a 41 per cent share in Centre's tax revenues. But as the Centre has raised excise duties in the form of "cess," the revenue proceeds are by nature not shareable with states.
Arvind Subramanian was appointed CEA in October 2014 and got a year's extension in September 2017
There would be an increase in NRI investment in India post elections.
The 13 firms under consideration had nearly a million employees as of March 2018, including contractual and temporary workforce.
In a bid to gain a bigger share of the customer's wallet, banks are ramping up their cross-selling initiatives.
Although demonetisation and improper implementation of GST along with falling prices are being blamed for much of the distress in rural India for some time, experts believe those may not be the only reason.
Cox & Kings had a total debt of Rs 3,238 crore at end of FY19 and this included both short-term and long-term loans.
Axis Bank dismisses 24 staffers, suspends 50 accounts after I-T raids
'One way of doing this could be offering credit guarantee to the banks, say 10 per cent, for fresh loans given to micro, small and medium enterprises,' observes Tamal Bandyopadhyay.
Though Dentsu Aegis says C P Arora left the business in July 2016, his Twitter handle and LinkedIn profile continue to refer to him as Group CFO of Denstu India.
However, the road to profitability has already hit some hurdles for the Delhi-based bank as the Union government has rejected its demand for an additional capital infusion of around Rs 8,000 crore in 2018-19
Iran is India's largest importer of tea in value terms while in terms of volume, it is the second largest after Russia
FATCA will facilitate flow of financial information between countries.
Heads of various public and private sector banks on Thursday sought to present a counter-narrative on RBI Governor Shaktikanta Das warning lenders about the perils of extreme risk aversion in the pandemic-stricken environment where credit demand is on the wane.
Barack Obama on Friday warned that the race to the White House was not a "reality show".
'The CEO will neither be able to guide the senior team in operational matters nor decide on their appointment, compensation or removal.' 'Yet, the CEO is responsible for the profit and loss of the bank!' 'Why would the senior executives listen to him?' 'Which self-respecting professional would want to be a CEO with these constraints?' asks Tamal Bandyopadhyay.
SBI was the top gainer after it reported lower-than-expected rise in bad loans
Diageo, the world's largest distiller, has been focusing on compliance at United Spirits Ltd (USL) after its acquisition of a controlling stake in India's largest spirits maker.
RBI Governor Shaktikanta Das and Finance Secretary Subhash Chandra Garg are also expected to attend the meetings.
As a step to protect its interest as a lender, SBI will look at the financial stability and corporate governance practices in companies where it has exposure.
Although now free, Mangal's ordeal may be far from over.
While money is among the key reasons why employees move to a new company, a strong company culture can also attract employees.
A senior executive of NIA confirmed the development and said that the insurance company is assessing damage to the airport's assets
Over 93% of the orders in the year came from the central and state governments, PSUs, and NHAI.
The combined entity is set to be the third largest bank in India, behind State Bank of India and ICICI Bank.
The panel may include or seek inputs from former RBI Governor Urjit Patel, former chief economic advisor Arvind Subramanian, Sajjid Chinoy of the PM-EAC, Rathin Roy, among others.
The Income Tax Act empowers the CBDT to capture information in respect of payments to non-residents, whether taxable or not
The Centre has advised banks to make a 20 per cent reduction in expenditure related to non-core business activities, along with deferring "avoidable expenditure" on "purchase of staff cars", "refurbishment of guest houses" and on the interior decoration of administrative and back offices.
According to RBI sources, some banks had extended credit to existing borrowers to repay their debt, known as evergreening of loans in banking parlance.
Fraud is a big concern among many board members.
The possibility of the slowdown affecting more players is greater if the industry doesn't get access to easier finance in the next six to eight months.
If indeed we want the board to manage the RBI, probably the government should take a close look at the US Federal Reserve system which has a two-part structure - a central authority in Washington, DC, and a decentralised network of 12 Federal Reserve Banks located throughout the country, says Tamal Bandyopadhyay.
Samridhi Bhardwaj analyses the dynamics of duty-free liquor allowance in India.
Such listings will help internationalise our currency, give us economic heft, compel best in class regulations and further develop the professional-services ecosystem., says Amit Tandon.
GIFT is a financial centre almost entirely devoid of bankers and, indeed, of people.
Is the RBI unable to accept with grace that beyond 55, one can have the ability to head the compliance functions in a bank, asks Tamal Bandyopadhyay.
The correlation between withdrawal of deposits and the Covid death rate is stark, reveals Tamal Bandyopadhyay.
The two-day G20 Summit saw the Indian side making "significant contributions" on resolve to counter terrorism and boost global trade and investment.
