Lenders can now review a borrower account within 30 days of default. Earlier, the banks had to start resolution within one day of default.
'Funds based on this theme offer socially conscious investors an option to invest in a portfolio that is aligned to their beliefs.'
Nimesh Shah, managing director & CEO of ICICI Prudential Asset Management Company, tells Chandan Kishore Kant that he is bullish on the Indian market.
Taking on board India's concerns, the G-20 Summit on Friday acknowledged that excess volatility of financial flows and disorderly movements in exchange rates can affect economic and financial stability of emerging markets and called for sound policies to address it.
The move, a part of the new set of prudential norms being discussed by financial sector regulators across the globe in the wake of the credit crisis, was being discussed in view of the reputational risk arising from undertaking such activities, RBI said in its annual report for 2008-09.
The government would be ironing out issues related to the controversial 'bail-in' clause in the earlier Bill, explore hiking the deposit insurance cover of customers, and decide whether the resolution framework should apply to public sector banks.
Coming down heavily on MF players who in recent past chose to use shareholder fund to buy out debt of bleeding invested companies, Sebi said MFs can't have standstill agreements with companies and will take action against fund houses for such deals.
For willful defaulters, change in ownership accompanied by punitive action against the defaulting management is the way to go.
Draft guidelines for Small Banks and Payments Banks were issued by the RBI in July and comments were invited till August 28.
This came even as the airline recorded the fastest domestic passenger growth rate of 26 per cent.
Currently, banks follow system of internal benchmarks, including Prime Lending Rate, Benchmark Prime Lending Rate, Base rate and Marginal Cost of Funds based Lending Rate.
'Without appropriate supervisory constraints in place, banks are in a position to delay the recognition of losses and engage in ever-greening or zombie lending, which is essentially the rolling over of debts of unviable borrowers that would have otherwise defaulted,' points out RBI Deputy Governor Viral Acharya.
energy is India's binding supply-side constraint for inclusive growth.
The move comes within months of a crisis at JPMorgan Asset Management Company.
Opportunity for India to take leadership in economic diplomacy.
In advanced economies where the financial system is more matured, the form of shadow banking is more of risk transformation through securitisation.
Indian regulators have identified certain groups as 'financial conglomerates' and they are being monitored closely for any systemic risks they may pose.
Voices from the Treasury are clamouring for lowering rates as this would boost demand.
Soon after Prime Minister Modi's assertion, the G20 countries also came down heavily on terrorism.
'The Reserve Bank's independence has remained a work in progress, an enduring challenge that the nation has been grappling with on an ongoing basis,' says RBI Deputy Governor Dr Viral Acharya.
The goal of the Committee on Comprehensive Financial Services for Small Businesses and Low-Income Households, a panel chaired by Nachiket Mor that submitted its report to the Reserve Bank of India last week, is truly a BHAG.
DEA officials to push for this at a meeting with FM Jaitley.
The need to allow government shareholding in public sector banks to come down below 51 per cent
Here's a look at how key Tata group companies fared under Cyrus Mistry's stewardship.
"The poor will not suffer disproportionately due to bouts of sharp inflation, and the middle class will not see its savings eroded," Raghuram Rajan said.
Pope Francis on Friday called upon the world community to put aside their "partisan interests and sincerely strive to serve the common good".
