'The new ceiling will cover around 93 per cent of all deposit accounts, up from 90 per cent earlier,' notes Tamal Bandyopadhyay.
'In times of recovery, we may see a rural-urban divide with the urban pockets affected more by COVID-19, but the MFI business model should encourage banks to handhold them in this hour of crisis,' notes Tamal Bandyopadhyay.
In the second part of the series on three Indian Americans who are pushing the boundaries in their respective fields, Arthur J Pais speaks with Kirin Sinha, winner of the prestigious Marshall Scholarships, who fuses dance and maths.
Saumil Bandyopadhyay was named a recipient of the second annual American Ingenuity Awards by Smithsonian magazine, the flagship publication of Smithsonian Media, for a unique, sensitive infrared radiation detector.
'We may bite the bullet and draw up plans for privatisation.' 'If that is done now, the sale of the government stake will fetch money; a delay will see erosion in whatever value is left in these banks,' says Tamal Bandyopadhyay.
'When bankers are hounded by investigative agencies for credit decisions going wrong and defaulters are treated like outcasts, who will borrow money and who will lend?' asks Tamal Bandyopadhyay.
'We do not know when we will get to the business-as-usual mode.' 'Many borrowers may not be able to pay up.' 'The incidence of cheque bouncing has doubled or even trebled, some lenders say,' says Tamal Bandyopadhyay.
If indeed the gate opens for big industrial houses, the RBI needs to be smarter than them and demonstrate it through action, not reaction, observes Tamal Bandyopadhyay.
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
In the concluding part of this series on three young Indians American who are pushing the boundaries in their respective fields, Arthur J Pais speaks with Dr Manu Prakash whose low-cost microscope and oral cancer detector that can save millions of lives were born out of empathy for poor people.
Individual banks should break away from the industry pact and have their own settlements with the unions, recommends Tamal Bandyopadhyay.
Exquisitely shot, with shadows and light capturing the hypnotic mood of the film, Jalsaghar is a viewing treat you owe yourself.
'The no-rate cut policy and preference to wait for the Budget and clarity on the fiscal front demonstrate RBI Governor Shaktikanta Das is maturing in his new role,' notes Tamal Bandyopadhyay.
'The RBI has not allowed any commercial bank to fail in the past three decades.' 'It has always played the role of a matchmaker, but this is the best deal it has stitched,' notes Tamal Bandyopadhyay.
'The snakes and ladders game will continue till the consolidation process is complete simply because we don't know how bad the scene is, with some of the banks being merged,' says Tamal Bandyopadhyay.
Fix India's real estate sector. Fix India's public sector banks, advises Tamal Bandyopadhyay.
The two leaders also discussed the special category status promised to the southern state.
'It's a toss-up between a fire sale of equity or merger with a strong bank,' points out Tamal Bandyopadhyay.
After a bitter separation with the Congress, the Trinamool Congress is mulling moving an adjournment motion under rule 184 that entails voting in the Winter Session of Parliament against the "anti-people" policies of the United Progressive Alliance government.
TMC Rajya Sabha MP and leader of the party in the Upper House Derek O'Brien and Sudip Bandyopadhyay, Lok Sabha MP and leader of the party in the Lower House, have written to presiding officers of both Houses, urging then to wind up proceedings on Monday (March 23).
Probably in August. We can argue whether RBI is dovishly neutral or neutrally dovish but the telltale signs of at least one more rate cut are strewn all over the policy statement, points out Tamal Bandyopadhyay.
'We can't have the best of both worlds -- large, efficient, world class government-owned banks, doing social banking and making profits. 'Why not set them free from the shackles of such obligations and run them as business units?' says Tamal Bandyopadhyay.
Three men, with their faces covered, came on a motorcycle to her house in Konnanagar Jorapukur Ghat at 9 pm and started hurling bombs. They barged into the house, smashed a windowpane, damaged furniture, and abused and assaulted her, Bhattacharya said in her police complaint. The BJP leader said in her complaint that it was the handiwork of "anti-socials harboured by the TMC".
Ganesh Pyne, one of the most legendary artists of our times, passed away after a cardiac arrest on March 12. Fellow artist Ramananda Bandyopadhyay pays tribute.
Heads of various public and private sector banks on Thursday sought to present a counter-narrative on RBI Governor Shaktikanta Das warning lenders about the perils of extreme risk aversion in the pandemic-stricken environment where credit demand is on the wane.
Asked whether Trivedi would remain as railway minister, he said, "Trivedi is an individual. Trinamool Congress is of the opinion that he should not remain as railway minister unless he withdraws the hike (passenger fares in the railway budget).
In his remarks in New Delhi at an all-party meeting held virtually, Modi said healthcare workers involved in treating COVID-19 patients, frontline workers, who include police personnel and municipal staff, and old people suffering from serious conditions would be inoculated on priority.
HDFC Bank was penalised R15 lakh in April 2011 for its role in the so-called derivatives scam. By no means is this big money for the bank but such regulatory actions tarnish the image of a bank. In the financial world, they call it reputation risk. HDFC Bank couldn't escape this despite its hatred for risks. What went wrong? Journalist Tamal Bandyopadhyay lifts the veil off the incident, and the bank's response, in this fascinating insight from his forthcoming book
The BJP could win only 16 out of 57 seats where Shah campaigned.
Bandopadhaya claimed he was innocent and had no involvement in the scam.
Eight-term member Sumitra Mahajan was on Friday unanimously elected Speaker of the 16th Lok Sabha, becoming the second woman presiding officer of the Lower House after her predecessor Meira Kumar.
Trinamool Congress MPs are likely to meet Prime Minister Manmohan Singh in Delhi on November 8 against the backdrop of the UPA ally's threat to pull out of the government on the petrol price rise issue.
Promoters increasing stakes is definitely a positive signal for the market and investors.
Enjoying the backing of the regulator, Gill has identified the core problems, ring-fenced the banks from "influencers" and is in the process of building a new team. Now, he needs to play a Vikram Pandit for YES Bank, says Tamal Bandyopadhyay.
Directed by Dibakar Banerjee, Detective Byomkesh Bakshy will release on April 3.
'Most importantly, marking a departure from the past, the RBI has made it clear that it is not overtly worried about the level of the local currency,' notes Tamal Bandyopadhyay.
None of the four benchmarks suggested by the RBI is ideal as banks in India create loan assets from their deposits and not borrowing from the regulator or market, says Tamal Bandyopadhyay.
The origin of the challenge is the so-called "fresh start" process. Many in the MFI industry apprehend that such a law in India will encourage small unsecured borrowers to default and destroy the credit culture. So, while'Fresh start' is a welcome step as it will free up the debtors from the archaic laws of the colonial era, debtors need handholding and counselling to prevent any misuse, says Tamal Bandyopadhyay.
As part of our ongoing series we invite readers to share their recipes with us! Sudeshna Bandyopadhyay wrote in to us and showed us how to make Apple Crumble
The Serious Fraud Investigation Office is under the administrative control of the Corporate Affairs Ministry, and is being readied to become an investigation body at par with the Central Bureau of Investigation and the Enforcement Directorate.
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