Advice to the new finance minister from former RBI governor Raghuram Rajan: 1. Clean up banks by reviving projects that can be revived after restructuring debt. 2. Improve governance and management at public sector banks. 3. De-risk banking by encouraging risk transfers to non-banks and the market. 4. Reduce the number and weight of government mandates for public sector banks, and for banks more generally.
'We are working with a few housing finance companies to drive affordable lending because that's where we believe our sweet spot is.'
'If we have to restrict and fight terrorism, first and foremost, we have to ensure communal harmony in the country.'
Members of Parliament, state legislatures, and local governments not eligible to be members of PSB boards
The average time lag between the date of occurrence of a fraud and its detection is 23 months; for large frauds (Rs 100 crore and above), it was 57 months.
Officials said 13 more families living in houses with huge cracks were moved by the administration to safe locations on Sunday.
'We will likely never know why Xi decided not to travel to New Delhi. One possible explanation could be his desire to avoid a meeting with US President Joe Biden.'
Banks feel happy shifting their toxic assets from loan books to investment books while the ARCs enjoy the management fees with a smile, observes Tamal Bandyopadhyay.
With Pakistan moving towards tactical nuclear weapons, there is an increasingly higher risk of nuclear theft, a US think-tank report has warned ahead of the Nuclear Security Summit in Washington later this month.
Indian society may be more advanced than we think it is, notes Ajit Balakrishnan.
Many lay folks cannot fathom the arcane language of the corporate governance brouhaha. I found that a mythological story connects very well, says R Gopalakrishnan.
The 41- year old is currently the head of macro trading in Goldman's Securities Division.
India must be prepared to deal with climate disasters, geopolitical confrontations, and social strife linked to global events, asserts Jayant Sinha, chairman of Parliament's Standing Committee on Finance.
Office politics exists in many organisations, so don't let that bother you, advises HR Guru Mayank Rautela.
The CBEC will itself be rechristened as the Central Board of Indirect Taxes and Customs and will supervise GST and Customs activities and provide the government policy inputs.
The finance minister also said that the merger would not result in any retrenchment but rather improve the benefit of the employees.
Women politicians bring to politics and policy a sensitivity that most of their male counterparts, at least until a generation back, lacked.
Known for weighing his options carefully before making any move, Kumar, upon a closer look, comes across as a risk taker who has not shied away from going against the tide.
'...by directing these draconian provisions against political and ideological opponents of the ruling group, minorities, and those who dare to dissent through and selective prosecution and prolonged incarceration as undertrials.'
The RBI was not party to the decision to demonetize 500 and 1,000-rupee notes, which was taken at the highest level of India's political leadership.
RBI conducts interviews for first lateral hire for CGM post; deputy governors to head four distinct verticals.
'Waiting for a market correction and optimising entry time in the markets will be akin to missing the woods for the trees.'
Chinese manufacturers are re-routing their products through the markets of other countries that India has Free Trade Agreements with.
The project involves development of a military-civil, dual-use airport; international container trans-shipment terminal; a gas, diesel, and solar-based power plant, and a township.
Banks do extensive investigation before declaring an account fraud; they owe it to us as they deal with our money. Why would they try to fix an innocent borrower? asks Tamal Bandyopadhyay.
The Reserve Bank of India (RBI) plans to impose stricter limits on how much a bank can lend to a single corporate group, a move aimed at curbing risk in the banking sector at a time when bad loans are on the rise.
Two straight years of less than 5 percent economic expansion have led to a surge in bad loans for Indian lenders.
The Reserve Bank of India on Friday decided to leave benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance as the economy faces heat of the second Covid wave.
Medical seats for under-graduates and post-graduates remaining vacant in the NEET era, together with the Centre 'freezing' the number of medical colleges and seats in (Dravidian) Tamil Nadu and the launch of the PM's 'Vishwakarma Scheme' for the nation's craftsmen, are all seen as a bid to further reverse the state's progressive socio-economic agenda of and its achievements of the past hundred-plus years, argues N Sathiya Moorthy.
The death toll in Turkey and Syria jolted by multiple earthquakes has reached more than 5,000, even as two fresh tremors hit eastern Turkey on Tuesday, reported the United States Geological Survey.
RBI may revise remuneration for banks.
Foreign portfolio investors (FPIs) are likely to seek from the finance ministry a six-month extension of the date for complying with the amendments to the Prevention of Money-Laundering Act (PMLA), citing implementation challenges. Sources said FPIs, through their custodians, were planning to approach the ministry, highlighting key concerns and seeking more clarification. The ministry, through a notification on March 7, lowered the threshold for reporting ultimate beneficial ownership (UBO) for non-profit organisations and politically exposed persons to 10 per cent from 25 per cent.
'The rising cost of construction, the cost of doing business, high compliance, and inflation/interest rates going up have already reduced returns to single digits.'
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While the systems in place at leading Indian bourses are considered to be very robust and can withstand any possible technical glitches, it is advisable to conduct a precautionary check after an unprecedented three-hour trading halt at a large exchange like Nasdaq, a senior Sebi official said.
Sebi splits CMD post and has directed listed companies to have at least six directors and at least one of them needs to be a woman.
The finance ministry on Friday asked state governments to accord priority to employees of banks and insurance companies for Covid-19 vaccination, saying they are exposed to high risks during these difficult times.
The biological weapons convention is a non-starter in spite of the efforts of many states in the world for the last five decades mainly because the US is not ready to accept the 'verification protocol' which could allow the formation of some official mechanism for inspections, says Ajay Lele.
She began her career as an aspiring model in the late 1990s. A few decades later, she is one of India's best known politicians.
The US dollar has risen about 15 per cent since mid-2015.
The immediate concern for all companies is to prepare themselves - and their vendors and suppliers - for the new GST return filing mechanism, being test piloted from April 1.
