The talk of governance reforms at public-sector banks seems to remain on paper, as a majority of them continue to be working with just a handful board members. Half of the board seat at these banks have been vacant. Ten of the 12 public-sector banks, even large ones like Punjab National Bank, Canara Bank and Union Bank of India - all except State Bank of India (SBI) and Bank of Baroda - don't even have a chairman. In 2014, while splitting the post of chairman & managing director (CMD), the government had decided to appoint non-executive chairmen at these banks. SBI, which has an executive chairman and four managing directors, was an exception.
Barring stray references such as the 'dual control' of banks and shifting the goalposts during demonetisation, he is not in a fault-finding mode with the government, notes Tamal Bandyopadhyay.
While the proposed new tax regime is optional for taxpayers, the finance minister has said the government eventually wants to do away with all exemptions with a lower tax-rate simplified structure.
Bupa and Axa have already declared their intention to raise stakes.
rediffGURU Kirtan A Shah answers your personal finance queries.
It may sound bizarre, but incidents of public sector bankers dying by suicide could probably equal the number of such bankers quitting their jobs, reveals Tamal Bandyopadhyay.
Bharti will move FIPB soon for increasing Axa's stake to 49%
Six Indian women have made it to Asia's most powerful women list released by Forbes.
The NCLT said the new board must hold its meeting by October 8 and come out with a road map before the next hearing on October 31
UTI's legacy and brand recognition, together with a robust distribution network and access to public sector money, could work in its favour, and help it command a premium
High networth individuals selling stocks to buy real estate is among the key risks for the Indian markets.
Life insurers are launching these again. Invest if you are conservative.
Indian companies realise several business opportunities ahead of International Yoga Day on Sunday
UTI Asset Management Company will float an initial public offer by March-end 2008 to help its sponsors State Bank of India, Life Insurance Corporation, Punjab National Bank and Bank of Baroda -- offload up to 50 per cent stake.
The online channel has only been successful in making inroads in metro cities.
'SBI is already too big. Too big to fail.' 'It already is a moral hazard. What will it do with 20,000 branches that it cannot do with 14,000, especially in these days of online and mobile banking?'
Highest-ever mobilisation in first half of any fiscal year; bankers expect the trend to continue, given strong pipeline
Our focus around technology, cost efficiency, persistency and effective distribution channel will continue, says the ICICI Bank MD and CEO.
During the current financial year, 25 companies have raised Rs 28,220 crore through IPOs
Share rises further to 73 per cent from 66 per cent last year; Some overseas i-banks seen scaling down operations
'If you want it to grow well and serve the true needs of the economy, it needs a lot of freedom and flexibility, which comes in terms of the reform objective set by the regulator.'
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
This month, advertisements for managing directors and the senior management team for the National Bank for Financing Infrastructure and Development or NaBFID, should be out, signalling the start of a financial institution (FI) like no other the country has ever had. For this and other reasons government managers associated with the NaBFID project are convinced it should remain a 100 per cent government-owned entity. This is somewhat different from what former economic affairs secretary Tarun Bajaj said when the NaBFID Bill was being tabled in Parliament earlier this year: "To begin with, it will be 100 per cent government owned.
The Reserve Bank of India (RBI) cut its key repo rate by a bigger-than-expected 50 basis points.
In a bid to gain a bigger share of the customer's wallet, banks are ramping up their cross-selling initiatives.
Inflow of more funds is likely to widen the reach of insurance and drive M&A activities in the sector where growth has stalled.
Experts say the move will make matters worse for buyers, reports Karan Choudhury.
Retail investors usually get caught up in the frenzy of a bull market and burn their fingers in IPOs, warns Tinesh Bhasin.
'When buying a term insurance plan, you need to visualise today what could happen to your family tomorrow in your absence,' suggests Mahavir Chopra, director-health, Coverfox.com.
'At the first board meeting I chaired, I sensed that corporate governance is an issue in this company.' 'I started taking steps that may have aggrieved a few.' 'This has now become a mission I intend to accomplish before I step down.'
Sanjay Kumar Singh tells you what to watch out for when buying insurance and investing in MFs online.
There is a dearth of talent in the Indian banking industry. A testimony to this is the two new CEOs in the private sector -- Sandeep Bakhshi in ICICI Bank Ltd and Amitabh Chaudhry in AXIS Bank Ltd -- have come from the insurance sector, says Tamal Bandyopadhyay.
The rights issue price has been set at Rs 1,257 a share, a discount of nearly 14 per cent to the last closing price of Rs 1,459. The company had set May 14 as the record date for the rights issue, which meant shareholders as on that day would be eligible to apply. Shareholders will be able to apply for one share for every 15 shares held.
From the 30-share pack, 18 stocks ended with gains led by SBI, which surged 27.58 per cent, and ICICI Bank 14.69 per cent.
Harvard-educated Piramal is also in the boards of several companies, including Piramal Life Sciences, SBI Capital Markets Ltd and Prudential ICICI Management.
HDFC charges 9.85 per cent for women and 9.9 per cent for others.
Lenders are not enthused because, as brokers, their responsibility towards policyholders will be higher than corporate agents.
Some lenders in talks with LIC for pvt placement
MFs have benefited from a shift to financial assets from physical assets like real estate and gold.
If a name does not unify the three, there could be continued clash of identities, which could splinter the brand even before it takes shape, say Abhijit Lele and Nikhat Hetavkar.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances