If you disagree with the notice, be ready to explain.
Cox & Kings had a total debt of Rs 3,238 crore at end of FY19 and this included both short-term and long-term loans.
The bank expects to grow loan book by 10 per cent in the current financial year with calibrated exposure to corporate accounts and thrust on the retail segment.
The PCA plan covers various suggestions or measures to recover non-performing assets (NPAs), reduce costs, boost capital, downsize risk-weighted assets, and improve profitability, among others. The LVB management is in the process of implementing all of these, said sources.
Corporation Bank is the biggest beneficiary of this round of capital infusion with Rs 9,086 crore of funding, followed by Allahabad Bank with Rs 6,896 crore.
The government has proposed "drastic changes" in the rules framed to retune the composition of three committees of the RBI: Board for Financial Supervision, the Board for Payment and Settlement Systems and the Committee of the Central Board.
Economic Affairs Secretary Subhash Garg is the finance ministry's primary liaison with the RBI.
Tamil Nadu-based Lakshmi Vilas Bank (LVB) with pre-independence lineage on Friday lost its identity after its merger with the Indian subsidiary of Singapore's DBS Bank. The debt-ridden 94-year old old bank's fate was sealed with Union Cabinet headed by Prime Minister Narendra Modi approving Scheme of Amalagamation on Wednesday.
A day after the RBI put in public domain a draft scheme of merger of Lakshmi Vilas Bank (LVB) with subsidiary of Singapore-based DBS, public sector banks' officer union AIBOC on Wednesday said the amalgamation is not in the national interest and demanded the consolidation with any PSB. The proposed amalgamation of the cash-strapped LVB with DBS Bank India seems to be a ploy to provide entry of foreign banks into the country in a big way, All India Bank Officers' Confederation (AIBOC) president Sunil Kumar said. The Indian banking sector provides huge opportunity for growth, so the foreign banks have been looking at inorganic route to expand their presence for long, he said.
Most of the pharma units are failing in documentation, and validation processes, and many don't have full-fledged quality control laboratories.
The Centre should privatise all public sector banks (PSBs), except the State Bank of India (SBI). This is because private banks have emerged as a credible alternative to PSBs with substantial market share. Also, government ownership hinders the ability of the Reserve Bank of India (RBI) to regulate the sector, according to a report by the National Council of Applied Economic Research (NCAER).
Anti-corruption activist-turned-politician Arvind Kejriwal on Saturday called on citizens of Delhi to burn their electricity bills, as he believed that this would prompt the Delhi government to take corrective action to end inflated power bills in the national capital.
Zero-coupon bonds don't give out interest but are issued at a deep discount to the face value, making it difficult to ascertain the net present value.
If the new governor can think out of the box even as he signals that he can bat for the RBI cadre and respect its institutional memory, that will go a long way in getting out of the current impasse.
'This is the first time we will see how SIP investors react to market correction.'
Highly-placed sources in the government say that none of the senior ministers had any inkling of Patel's resignation
The meeting came amid a face-off between the central bank and the finance ministry over issues ranging from appropriate size of reserves that RBI must maintain to ease of lending norms to step up growth in an election year.
West Bengal Chief Minister Mamata Banerjee on Thursday termed the cancellation of over 25,000 school jobs as 'gross injustice' and alleged that it was a ploy by the Bharatiya Janata Party to stop these job losers from being deployed in poll duty.
At present, bank depositors get an insurance cover of Rs 1 lakh on their amount by the Deposit Insurance and credit Guarantee Corporation.
RBI may be inclined to impose severe restrictions on lending in the coming quarters.
For state-run lenders, the average NPAs shot up to 14.5 per cent, with IDBI Bank, UCO Bank and Indian Overseas Bank having their NPAs at above 25 per cent.
'Let them put their house in order first.' 'Let the RBI first rectify themselves.'
Jeera July futures in NCDEX touched a record high of Rs. 58,085 per quintal on Monday, before coming down to around Rs. 55,500 on Tuesday. This was due to profit booking and extension of additional surveillance margin of 2.5 per cent till July 18, including on all contracts to be launched in the future. The softening, according to some reports, is also because of fears of regulatory action on jeera traders over allegations of excessive speculation.
Sports of Authority of India (SAI) has decided to go for a performance review of all its regional centres after national hockey chief coach Harendra Singh complained about sub-standard food and hygiene in the Bengaluru facility.
LVB had faced some serious flak in terms of bad loans, earnings and credit rating downgrades, since 2016.
The combined market capitalisation of the 21 listed PSU banks declined by about Rs 76,000 crore to Rs 425,800 crore during the month.
The general nervousness because of the IL&FS default will prevail in the system for now.
Missing the deadline for filing Income Tax returns can lead to consequences.
Patel, who headed the RBI from September 2016 till his sudden resignation in December 2018, says in his book thta the government seemed to lose enthusiasm for the new bankruptcy law in the middle of the year he left the central bank. Though Patel does not name anybody in the book, the mid-2018 period he refers to is the time when Piyush Goyal held temporary charge of the finance ministry between May and August.
The meeting is expected to chart a road map for cleaning up their balance sheets and boost credit flows, reports Somesh Jha.
The coming years could be exciting for Bandhan Bank, IDBI Bank, IDFC First Bank, Federal Bank, and CSB Bank.
The Reserve Bank on Wednesday said the amalgamation of Lakshmi Vilas Bank with DBS Bank India will come into force from November 27 and the moratorium imposed on the crisis-ridden lender will be removed on that day. The RBI issued the statement within hours of the Cabinet clearing the Scheme of Amalgamation of Lakshmi Vilas Bank Limited (LVB) with DBS Bank India Limited (DBIL).
The main reason was that CPI inflation would likely remain below 4 per cent till July.
'The corruption charges in FCI are not the first and won't be the last.'
'There is merit in keeping the central bank's balance sheet strong if the government's fiscal balance sheet is weak.'
CII suggested the policy measures required to ease the tight liquidity situation by cutting CRR by at least 50 basis points.
Given the pressure from India Inc and the banking fraternity, it is surmised that the portfolio rejig will take place before April.
RBI says haste in easing norms for banks harmful to economy.
The government wants the RBI to part with most of its profit as dividend.
The problem for the NBFC sector is the funding inertia by banks and not lack of funds.
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