Several banks and housing finance companies have come under the scanner of the competition watchdog for imposing penalty on pre-payment of loans.
There were instances of 'rasta roko' at various places in rural Maharashtra
Taking advantage of attractive valuations, life insurers bought equities in the bulk deal segment during the last six months against selling by them during June-November 2008.
'They want (the ownership and management of PSU banks) to pass into the hands of a private sector entity.' 'Ownership of these banks will go from the public sector to private sector.'
The insurance sector is making a strong comeback. Buoyed by a steep rise in sale of single premium policies, the industry clocked a 53.25 per cent rise in November.
'I have been advising investors since the last couple of months to at least take their capital out.' 'Most of the people have made 50-60 per cent in the market, if not more, they must at least take their capital out.'
It will bring in more transparency and reduce mis-selling
Clearly, the extra borrowing of Rs 4.2 trillion the government has planned so far will not be enough to meet the shortfall in revenues which could be between Rs 8 trillion and Rs 10 trillion, points out A K Bhattacharya.
Cairn, which is sitting on a cash pile of about $3 billion, in a statement said its board has approved buying 17.09 crore shares or 8.9 per cent of the total shareholding, from open market at no more than Rs 335 apiece.
PFRDA, India's new pension regulator, has introduced New Pension System will help working Indians lead a dignified retired life.
'There is merit in keeping the central bank's balance sheet strong if the government's fiscal balance sheet is weak.'
'Imagine the message it sends to people. They will think tobacco cannot be a killer because LIC is investing in it.' 'The so-called rakshak (protector) has become a bhakshak (destroyer).'
Following the AMFI approval, these entities would be given the clearance by CDSL Ventures Ltd, the nodal agency for MIN issuances.
Padmini Rout is well-placed along with four foreigners atop of the points' table after seven rounds in the LIC World Junior Chess Championships, being played at Hotel Hyatt, in Pune. With six rounds left in the tough 13-round Swiss league event, the players in both sections are tightly bunched, making the hunt for the title quite open.
Pressure on the government increased with the Reserve Bank of India's surprise move on Thursday to cut interest rates
Famous and long believed to be trusted Indian brands have wilted against foreign brands, says Mohan Guruswamy.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
State Bank of India plans to open its office in Dubai International Finance Centre in a few weeks, a move which will boost India's largest bank's presence in the Gulf region.
Tax deduction limit up Rs 50K for investment in pension fund.
The report has identified 29 instances where it appears that the loans disbursed to borrowers were in turn utilised by their group companies to repay the existing debt obligations with IL&FS Financial Services Limited.
Barclays Plc, UK's third-largest bank by assets, plans to enter the emerging credit card market in India.
High fiscal deficits raise inflation which hits the lowest income and salaried classes.
A day after applying for a bank licence, Aditya Birla Group chairman Kumar Mangalam Birla on Wednesday said the new bank licence norms announced by the Reserve Bank are not discriminatory towards large corporate houses.
As the government tabled insurance bill in the Parliament on Monday, trade unions of public sector firms called for a strike on Tuesday against the move that aims to raise FDI limit in the private insurers to 49 per cent and the minimum paid up capital in LIC to Rs 100 crore (Rs 1 billion).
Say cost of funds too high to lower lending rates.
A corporate lawyer said that this is the biggest failure of corporate governance in this country. He pointed out that American investors can even take the bank to court for giving false statements to stock exchanges and even file class action suits. Some even questioned how RBI overlooked Kochhar's misdeed.
Multiple levels of integrations with the bank servers are required for enabling transactions.
A host of them have a tracking error of more than 1 per cent
If purists are surprised as to why and how people are not demanding prohibition or not talking about past promises, both in the election manifestos five years back and even those made to the courts, the answer lies in how the state has been evolving and changing these past few years, says N Sathiya Moorthy.
The Budget emphasises on capacity building and empowerment of marginalised sections of society including farmers.
'RBI was focusing on public sector banks perhaps thinking that private sector banks are managed efficiently while PSU banks are not.' 'Now, RBI has to focus on private sector banks too.'
In the last few years, unit-linked insurance plans (Ulips) have quietly become one of the largest players in the Indian stock market. With a total investment estimated at Rs 1.5 lakh crore to Rs 2 lakh crore, they are almost close to the investment made by equity mutual funds.
Mutual fund houses are bullish on the financial sector, notwithstanding the recent beating at the stock market. Fund houses like Kotak Mahindra AMC, Sundaram BNP Paribas & LIC Mutual Fund have drawn up plans to introduce products aimed at the financial services sector. Bank stocks for long had been one of the favourite picks for many fund managers. There was a slowdown in valuations of financial sector stocks but Indian corporate entities still continue to remain attractive.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The regulatory actions, undertaken by the RBI and the government, came hours after finance ministry sources confirmed that SBI was directed to bail out the troubled lender. For the next month, Yes Bank will led by the RBI-appointed administrator Prashant Kumar, an ex-chief financial officer of SBI.
All in all, Cairn India shareholders are getting a 9.1 per cent premium based on closing prices of July 22
YES Bank, Bank of Baroda, SBI, IndusInd Bank, and RBL Bank are amongst the banks, Jefferies says, are most prune to "high risk" emanating from ADAG, Cox & Kings, CG Power, DHFL and Essar Shipping.
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