'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.'
A host of them have a tracking error of more than 1 per cent
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.
'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.'
Multiple levels of integrations with the bank servers are required for enabling transactions.
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.
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.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
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.
All in all, Cairn India shareholders are getting a 9.1 per cent premium based on closing prices of July 22
UTI Asset Management Company will float an initial public offer by March-end 2008 to help its sponsors State Bank of India, Life Insurance Corporation, Punjab National Bank and Bank of Baroda -- offload up to 50 per cent stake.
Visa group will invest Rs 4,500 crore (Rs 45 billion) for setting up a 1000-MW mega thermal power plant in Orissa and also engage in all-India power trading, diversifying from steel.
The government will raise at least Rs 2,250 crore (Rs 22.5billion) for selling its residual stake in the country's top carmaker Maruti Udyog Ltd to banks and financial institutions, as it has fixed a floor price of Rs 760 a share.
Of the 15 life insurance companies, just 10 make their portfolios available on their websites
The government on Friday cleared disinvestment in two bluechip state-owned companies IOC and Bhel, which would fetch over Rs 7,300 crore (Rs 73 billion) to the exchequer in the current fiscal.
Life insurance sector in India grew by 41 per cent in 2005-06 due to better performance of country's largest life insurer, LIC, and private players like Bajaj Allianz and ICICI Prudential.
The Budget emphasises on capacity building and empowerment of marginalised sections of society including farmers.
Transcript of the chat with the insurance expert.
IndusInd Bank Limited has applied to the Reserve Bank of India for floating an insurance broking subsidiary as an area of diversification, a top bank official said.
'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 his book Restart, Mihir Sharma minces no words in pointing out that faulty policies, the lackadaisical attitude of bureaucrats and a few wrong decisions of past governments have hampered India's growth.
The idea was that despite some defaults the high rates would assure good profits.
Under the scheme, which seeks to open 75 million accounts by January 26, 2015, an accident insurance cover of Rs 100,000 is provided with every RuPay debit card offered by the National Payments Corporation of India.
UTI's legacy and brand recognition, together with a robust distribution network and access to public sector money, could work in its favour, and help it command a premium
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.
Several institutional investors were ineligible to invest in these companies as they failed to meet the disclosure norms
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.
The court also dismissed petitions of his wife Pratibha Singh, son Vikramaditya Singh and another person.
You can still save money, says Samkit Maniar
Under the Goods and Services Tax, effective midnight of June 30, most of the financial services would attract a higher tax of 18 per cent as against 15 per cent as of now.
The cumulative m-cap of the companies listed on the BSE soared to a new peak of Rs 82,02,907 crore at 1200 hours.
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.
