UBS reiterated its Nifty target of 9,200 by December as it expects growth to gather steam
The Union Budget 2016-17 has cheered the NBFC sector
RBI had on February 12, 2018 issued a circular saying that lenders have to provide for resolution plan within 180 days in case of large account of Rs 2,000 crore and above.
'If any party talks too much about Muslims, it will lose.'
NPA ratio declined to 3.4% of total loans outstanding, from 3.6% in the Jul-Sept quarter last year.
Many are now cheaper after stock splits. But look at key parameters
Banks have started organising silent demonstration in front of houses of defaulters.
United Bank of India and Andhra Bank employees start organising silent protests.
Gross NPA of PSBs at the end of March quarter stood at 5.20 per cent, against 5.63 per cent in December.
The BSE Midcap and the BSE Smallcap indices pared all intraday gains to end 0.3% and 0.5% lower
Uttar Pradesh and Punjab have announced loan waivers for farmers, while Maharashtra has not despite Opposition pressure. Sanjeeb Mukherjee reports.
Profit taking in index heavweights RIL and HDFC weighed on sentiment while ICICI Bank surged 7%.
Here are the key decisions announced by the Reserve Bank of India on Thursday.
The scheme, touted as a panacea to burgeoning CAD, was a huge flop that fostered a spike in smuggling and allowed several Gitanjali-like players to make a killing
'I have been most pained at being painted as an absconder'.
The market sentiment was also impacted by mixed global cues as setbacks for a healthcare overhaul in the US raised doubts over prospects for a range of reforms backed by President Donald Trump.
The latest fraud is a failure of management supervision and accountability, as no bad debt was generated and no cash was involved
The finance minister has said that United Bank has managed to reduce its non-performing assets.
'If this is the India you're talking about, where there is no space for minorities, where you have hate, where people can enter universities and beat students up, let me be anti-national.' 'I'll carry that as a badge of honour.'
The NSE 50-share index, after moving between 10,469.90 and 10,395.25, finally concluded at 10,458.65, up 41.50 points
It was a roller-coaster week for the markets, amid talk of a fiscal stimulus by the government. Saurabh Mukherjea, chief executive officer, and Prashant Mittal, strategist, at Ambit Capital tell Puneet Wadhwa the recent flows into equity mutual funds are largely speculative in nature and pose a risk of reversal.
As industrialist Vijay Mallya fights his wilful defaulter tag, former CAG Vinod Rai has said Kingfisher Airlines' loan default is just a "trickle" and the overall problem of huge bad loans at public sector banks can be blamed on 'cronies' using connections to borrow money.
M R Venkatesh, chartered accountant turned political commentator tells Shobha Warrier/Rediff.com that Modi's war is not against the opposition parties or the Congress but against the bureaucracy and the establishment.
'Through the course of the year, we expect the economic weakness generated by demonetisation will give way to normalisation of growth conditions.'
Banks and financial institutions provide 6-12 months of additional time, beyond which you need to negotiate.
At a time when the asset quality of state-owned banks is deteriorating, the Reserve Bank of India is also planning harsher penalties for wealthy promoters of wilful defaulters.
State Bank of India (SBI) chairman Rajnish Kumar, in conversation with Abhijit Lele, also says that the overhang of corporate debt stress will begin to recede in the next two-three quarters.
Bankers seem to be pleased with the government for keeping its promise of not interfering in operational matters, but are apprehensive about the intense scrutiny of their functioning.
Among other stocks, IT firm Mphasis today reported a 15.30% increase in consolidated net profit at Rs 184.72 crore for the quarter ended September 30, 2015.
A freely convertible country must have sound macroeconomic policies.
'The RBI is something like a seat belt. As a driver, the driver being the government, it has the possibility of not putting on a seat belt but of course if you do not put on your seat belt you get into an accident and the accident can be quite severe,' Raghuram Rajan told CNBC TV18. 'The aim of the board is to be Rahul Dravid -- sensible, thoughtful and not, with due respect, Navjot Sidhu,' he added.
The choice clearly is between prompt corrective action and slow but sure destruction, says Tamal Bandyopadhyay.
Also build a contingency fund equal to 9 to 12 months of expenses.
RBI has already come out with a discussion paper on banking sector in India, on which the regulator has invited comments from stakeholders.
'The household sector, which is still the largest contributor of financial savings, has been experiencing a decline in the last six years, and it has fallen below 8% of GDP.'
Cases filed in 3 high courts.
The Reserve Bank could consider setting up of a Fraud Registry on the lines of Credit Information Bureau to check criminal activities in the financial sector.
Instead of a consumption stimulus the government must address the NPA issue with a war footing and invest in infrastructure, affordable housing and exports, says Sanjeev Nayyar.
To facilitate such restrictions on entities found to have 'wilfully' defaulted on bank loans, the Reserve Bank is exploring ways to share details of these defaulters with Sebi on a real time basis.
'We feel there is definitely something murky in the system.' 'Will anyone believe that Nirav Modi will go to a branch and bribe a low-level officer?' 'Just look at the people with whom he had moved around.'
