Though Indian banks don't have large exposure to subprime mortgages, analysts are worried at the rise in their restructured loan portfolios and deterioration in credit quality.
'Mrs Gandhi had nothing to do in the day-to-day working of Dr Singh's government.' 'People say Mrs Gandhi's office used to give orders, which is nonsense.'
On the 10th anniversary of the global financial crisis, a multi-part series analyses the lessons learnt and those not learnt.
Many in the US establishment must hope that the crisis would put the brakes on China's growing military might. Well, it ain't gonna happen, says T T Ram Mohan, who was appointed a member of the prime minister's economic advisory council on Wednesday, October 28, 2021.
Lehman Brothers' bankruptcy filing may well prove to be the last straw for Indian IT firms, which were expecting the second half of FY09 to be better. As a result of the United States' financial market crisis, analysts do not expect Indian IT firms to sign any significant contracts in the banking, financial services and insurance space in the months to come.
For the banking system a new cycle starts in FY2024. It's fraught with fresh challenges on asset quality and profitability, warns Tamal Bandyopadhyay.
Two successive reports, one by Percy Mistry in 2007 and the other by Raghuram Rajan in 2008 had provided the RBI and the finance ministry with blueprints of what to do next. Both reports, unfortunately, was put on ice. The global meltdown saved the RBI. It also saved the finance ministry from having to work on the two reports.
The reality is that this is an unprecedented time, and the environment far murkier than usual. While a trading rally is clear, it is to my mind premature to make any statement beyond that. While it is probably dangerous to have very high cash levels, I find it difficult to be fully invested, either, says Akash Prakash.
Pushing through structural reforms in the face of opposition from its Left allies is a challenge for the UPA government, but reforms have a chance after the next general elections, says a report by global investment bank Lehman Brothers.
Once the drought and its difficult fall-out are dealt with, good times should be round the corner, says T N Ninan.
"We forecast 7.3 per cent GDP growth (current financial year). We expect fundamentals to improve next year, propelling a recovery in H2 FY10," Lehman Brothers said in a report. For the first quarter ended June 2008, the economy registered a growth of 7.9 per cent against 9.2 per cent in the same period last year.
Sales have started picking up and the company has cut down losses. It's now looking to expand in other markets.
Stimulus was given in phases after Chidambaram had left the finance ministry to head the home ministry in December 2008.
Not only has the Sensex swung wildly in the interim, staying below 10,000 for months in late 2008, but the market's winning stocks have changed in composition and character.
Regardless of who is right, Rajan has to quickly come to grips with a number of obvious challenges, ranging from the immediate to the medium term.
This is how Imarticus Learning plans to train freshers become job-ready as investment bankers
Finance plays a key role in bringing the ambitious growth plans of dynamic businesses to life.
Leading B-schools are not taking any chances and are inviting more companies than usual.
Global financial crisis has created an adverse impact on the economy especially on the Indian IT industry.
Radhika Gupta and Anant Jatia, start-up entrepreneurs, speak about the impetus for their unusual start up, that led them to switch countries and gamble on their futures. They also discuss what it takes to succeed with their unique business proposition, why they quit lucrative careers to start a company in India and their success mantras.
How to survive a layoff? A BPO employee who was sacked twice and is perhaps preparing for another one, reveals his successful fight against pink slips.
How to survive a layoff? A BPO employee who was sacked twice and is perhaps preparing for another one, reveals his successful fight against pink slips.
Takumi Shibata, chief operating officer, Nomura Holdings, said, "India is one of the most important regions for Nomura's global expansion. Under the leadership of Vikas Sharma, president and CEO of Nomura India, and with a strong team combining Nomura and former Lehman Brothers' expertise in India, I am confident that our footprint in India will significantly expand." Currently, Nomura employs over 2,600 people in India.
Japan's nuclear crisis and the devastations caused by last Friday's earthquake and tsunami are unlikely to trigger a global recession as happened in the aftermath of the collapse of the US investment bank Lehman Brothers three years ago, according to leading economists.
Economists and industry chambers are divided whether the Indian economy is headed towards the same slow growth as was the case during the time of global financial crisis.
At 19 times the trailing earnings, valuations are above 2003, 2009 levels.
The global financial system needs more regulatory reforms to reduce the possibility of another meltdown, according to experts at International Monetary Fund.
Finance Minister Nirmala Sitharaman will present her sixth straight Budget ahead of the Parliamentary elections, matching the record of former Prime Minister Morarji Desai. Sitharaman in her pre-election Budget, which technically is a vote on account and popularly termed an interim Budget, will seek Parliament's nod for a grant in advance to meet the central government's essential expenditure for the first four months of the new fiscal year that starts in April. A new government elected after the April/May general elections will present the full Budget, likely in July.
Insurance, telecom, infrastructure, FMCG and energy are unlikely to downsize; Elsewhere, only top performers are safe.
Fearing the "inevitable" global recession following the US financial meltdown, Japanese Prime Minister Taro Aso said the magnitude of the turmoil was increasing in "seriousness" and wanted the international community to make "concerted efforts" to tackle the crisis.
The outspoken filmmaker of documentaries such as Sicko and Roger and Me, promoted his latest work, Capitalism: A Love Story at the Toronto International Film Festival.
According to analysts, everyone across the globe has learnt several important lessons from the financial turmoil during the past year or two, which has made them highly risk averse.
ICICI now plans to be more aggressive, while HDFC is in no mood to allow its bigger rival regain lost market share.
US President Barack Obama has released his plan to reform Wall Street. A look...
The global financial crisis that started in the later part of 2008 following the collapse of the Wall Street investment bank Lehman Brothers may be over but the cleaning up process is still on, said Chairman of Federal Deposit Insurance Corporation Sheila Bair on Tuesday.
There is little doubt that the global economic crisis has worsened Indias growth prospects, but the slowdown began long before the US financial meltdown began.
These companies are noteworthy for the transparent and conservative accounting and prudent management.
History books will document that the global economy experienced a sudden stop after September 15.
'There is a long-term bull market that commodities will witness. This can take 2-3 years to start. There have been some large moves in foreign exchange. We have seen the pound depreciate by 25 per cent against dollar. We have seen the yen appreciate against the dollar. When the markets start stabilising, these trends will reverse. This will give good trading opportunity. But it is not clear whether any one should do anything yet,' says Robert Morrice, MD, Barclays Wealth.
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