Investment banking star and Moelis India Chief Executive Officer Manisha Girotra remembers a colleague who wanted to resign because she needed to attend to her parents' health issues in a different state. Rather than quit a promising career, she was given the flexibility of working from home on Fridays, which was unusual in the pre-pandemic days. This allowed her to take care of her parents' visits to the doctor and other health-related needs without quitting her job. She would be back in the city office on Mondays.
"We are already restructuring viable accounts, which are facing temporary cash flow problems," says S Sridhar, Chairman & MD, Central Bank of India.
It is impossible the control or reduce the fury of nature but, at a lower scale, it is worth experimenting to modify it, says Ajay Lele.
In a bid to gain a bigger share of the customer's wallet, banks are ramping up their cross-selling initiatives.
The 'context' of the launch of GSAT-15 highlights that India has much ground to cover in the transponder arena while in satellite navigation arena ISRO's progress has been satisfactory, says Ajey Lele.
Corporate lending has not slowed down. There is no slowdown in manufacturing and services, says M D Mallya.
Owing to the risk perception attached with the segment by banks, the residential realty segment has been increasingly relying on non-banking financial companies and housing finance companies to raise debt financing, reports Abhijit Lele.
'67 per cent of our transactions happen digitally and about 93 per cent of transactions happen outside the branch.' 'Despite that, there is ample scope for promoting banking-related activities in branches.' 'So, for some time, we will have to, probably, live with the same structure.'
Lenders can now review a borrower account within 30 days of default. Earlier, the banks had to start resolution within one day of default.
It has been a year since the Reserve Bank of India (RBI) initiated prompt corrective action (PCA), an exercise that puts weak banks under central bank scrutiny, against the 94-year-old Lakshmi Vilas Bank (LVB). But recently, this low-profile Chennai-headquartered bank found itself attracting some unwonted publicity when 60 per cent of its shareholders voted against a proposal to re-appoint seven directors, including one of the promoters, K R Pradeep (who holds around 2 per cent), and the company's managing director & chief executive officer S Sundar.
Branch networks will give preference to pensioners and labourers for withdrawing money.
Today, the biggest challenge for any state is to evolve indigenous hardware options. It is important for the states like Germany, India etc to increase their stakes in the global IT setup and this could allow them to control the US domination, says Ajey Lele.
Governments that did not respect the central bank's independence would sooner or later incur the wrath of financial markets, ignite economic fire, and come to rue the day they undermined the regulatory institution, Deputy Governor Viral Acharya warned.
Former India skipper Dilip Vengsarkar made a startling revelation, on Monday, about underworld don Dawood Ibrahim entering the Indian team's dressing room and offering the players cars if they beat Pakistan in the final of the Sharjah tournament in 1986.
'The economy is expected to bounce back and things are expected to recover faster than what we previously thought.'
'If government thinks that they can reduce the shortage of surgeons available in rural areas by promoting mixopathy, then the consequences will be disastrous.'
RBI says haste in easing norms for banks harmful to economy.
'The effect will be seen two-three quarters down the line.'
'The rate cut will reduce the stress on customers and help the bank reduce its provisioning bill.'
Kolkata tops the list with 617 cancellations, New Delhi stands second with 203, followed by Mumbai at 190.
'We tightened our risk frameworks once the Covid crisis started.' 'We are slowly lightening this as we see economic activity pick up, salaries getting restored, and people getting back into jobs.'
Such cold-shoulder by banks also indicates a credit freeze that is hard to overcome, unless the government comes out with credit guarantee schemes for loans given by banks. Since that is not happening, and there is no indication of that too, banks are not willing to listen to RBI prodding.
'When there is unlocking, there is demand revival.' 'This is going to be the main growth engine in this kind of an economic scenario.'
Banks have reported that banknotes worth Rs 592,613 crore have been issued to the public.
During the fourth quarter (January-March), banks step up the activity to meet annual targets. This leads to a race to raise funds from markets often by jacking up deposit rates. This time around, the market has not seen such trend yet.
Among the states due for election next year are AP, Haryana and Odisha, which have a fair share of agri credit. If these states individually announced debt relief, the combined waiver would be at least around Rs 600 bn to Rs 700 bn. Clearly, this will be a frightening challenge for Indian banks.
Lenders say settlements will cross over 100 accounts in the March quarter.
'The strange thing is that they (Sri Lanka) did not face any problem till the lunch time of the second day. But as soon as they were handed masks following lunch, the 6 to 7 players were seen wearing masks on the field. And the two fast bowlers who were already facing problems were handed bowling'
The growth story of India depends on its achievements in the S&T sector. There is a need to revolutionise the landscape of Indian science and technology and this is only possible if the scientific community is allowed to work 'professionally and scientifically' without burdening them with the baggage of the past, says Ajey Lele.
Demonetisation impact: Money lenders make a comeback.
This is one of the many such cases that helped to create an acute fear psychosis among public sector bankers, reveals Tamal Bandyopadhyay in his fascinating new book Pandemonium: The Great Indian Banking Tragedy.
In the aftermath of the Karvy incident, lending against third-party collateral facility raises questions over regulations concerning banks and brokers which are at loggerheads. While Sebi and NSDL have ordered the transfer of securities, which were kept as collateral, lenders followed the old business model of sanctioning loan against shares and allegedly overlooked certain parameters. Legal experts feel that this could lead to a collapse of the loan-against-shares market as it raises questions over the sanctity of the pledged securities.
Godrej and some other firms are frustrated at what they say is the slow execution of projects and lack of government support, which are hampering India's efforts to compete with China and Russia as a cheaper option for launching satellites.
The mergers will not involve any cash but only share swaps
The combined entity is set to be the third largest bank in India, behind State Bank of India and ICICI Bank.
The problem for the NBFC sector is the funding inertia by banks and not lack of funds.
'His (Das) approach to work seems that of working as a team with ease in communication.'
Indian bankers are fearful that going out of their way to save Jet could lead to subsequent harassment from investigative agencies.
The loss of income has severely dented the loan repayment ability of small borrowers
'We have collected Rs 83,702 crore in deposits in five days.'
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