The higher rate cut by RBI is positive for rate-sensitive sectors in the medium to long term.
'We get to know secrets such as some of India's top-rated firms do not always make payments when due and many State-owned, listed, enterprises that borrow in bond markets default regularly.' 'Without naming the bank, he says that ever-greening of poor loans by a part of India's shadow banking lay at the doorstep of India's banking, notably 'one private bank'.' Viral Acharya's Quest for Restoring Financial Stability in India won't be music to many ears, observes Tamal Bandyopadhyay.
'Put the assets of PMC Bank and the personal assets of the HDIL promoters and head of PMC Bank in an escrow account and ring-fence it from the ad hoc action of the revenue departments and creditors,' recommends Debashis Basu.
Tracking the strong momentum in the broader market, as many as 99 stocks touched their one-year high level on the BSE on Monday.
Infosys, Bharti Airtel and ICICI Bank are the only companies who have managed to score 100% on a Composite Disclosure Index
BJP loss could trigger a correction
'A bold, progressive step forward,' Kotak Mahindra Bank CEO Uday Kotak said of Nirmala Sitharaman's corporate tax breaks.
Policies to break down the business group format are far more likely to be effective, argues Simon Commander.
The rally followed the govt's plan to bolster state-owned lenders.
'Public sector banks are like an extended arm of the government.' 'They rush to rescue certain sectors or they rush to invest in certain sectors to prop up the economy which the private banks don't.'
A declining rupee, elevated crude oil prices and sustained foreign fund outflows added to the gloom
There have been two changes announced so far as MF taxation is concerned.
Banking services are likely to be affected for the next four days as employees of PSU banks plan to go on a zone-wise relay strike beginning with Southern region from Tuesday, after wage revision talks failed.
Sensex, Nifty end lower on global concerns.
Indian elections are won and lost on 'negative' imageries and campaigns - but not certainly on 'negativity' as a political trait and electoral creed, asserts N Sathiya Moorthy.
Indices reversed all its losses during late trades.
SBI chief Rajnish Kumar said the focus going forward will be on cost reduction, rationalisation and reskilling of workforce, improving staff productivity and redeployment of workforce from admin offices to sales roles.
Earlier this year, the Union Cabinet gave the management of state-run companies the freedom to decide on divesting their subsidiaries. However, the very next day a meeting was held at the top level of the Government of India, for the presentation of proposals for more autonomy for state-run companies. Interestingly, no chiefs of any of these companies were invited. It is a problem that will stare the government in the face with the state-owned banks too, as talks have again begun for inviting strategic investments in these companies.
The circular says even a day's delay in servicing loans would be now taken as a 'default'. And once in default, for loans above Rs 2,000 crore, the banks will have to arrive at a resolution within 180 days, else lenders will have to file an application under the IBC within 15 days.
Will Arundhati Bhattacharya be the RBI's first woman governor? Or will Urjit Patel succeed Raghuram Rajanas RBI governor when his term ends on September 4?
While the fiscal year has just begun, any windfall surplus will be welcomed by the government as it bids to meet the fiscal deficit target of 5.9 per cent of GDP, amidst lack of clarity on exactly to what extent will recession in the West impact India's trade and tax collections.
'When fund managers talk of being bullish for the long term, they assume strong economic growth.' 'That is what they have assumed every year, naively believing the pronouncements and promises of ministers.' 'Unfortunately, they have been wrong year after year,' observes Debashis Basu, editor, www.moneylife.in.
Experts feel select companies in banking, automobiles, financial services & real estate will gain from lower interest rates
The UK government has promised to put in place measures worth hundreds of millions of pounds to support any rescue deal for the Indian group's UK business.
The dollar bond market has been a favourite for Indian firms in 2014.
The bulk of the erosion in terms of value took place in India's most-valued firms. For instance, Mukesh Ambani-led Reliance Industries alone has lost Rs 3.8 trillion in m-cap, followed by HDFC Bank, which has seen its value erode by Rs 2.45 trillion and Tata Consultancy Services (TCS), which has lost Rs 1.85 trillion to stand at Rs 6.24 trillion, making it India's most-valued.
'Else they will form a growing 'hospital sector' -- and the taxpayer will be asked to pick up a mounting bill,' warns T N Ninan.
'By not letting bankrupt banks fail, we have discouraged ordinary folk from taking precautions while choosing their bank or at least when they hear bad news about their bank,'says S Muralidharan, former MD, BNP Paribas.
Tamal Bandyopadhyay details HDFC Bank's digital journey.
'Macro headwinds are rising for Indian equities in the form of rising commodity prices, especially oil, depreciating rupee, fiscal challenges, election-related uncertainty and upside risks to inflation'
The Securities and Exchange Board of India (Sebi) on Monday relaxed the norms for valuing perpetual bonds. The norms, which had sought to value banks' deemed residual maturity of Basel III additional tier 1 (AT1) bonds as 100-year debt from April 1, were strongly opposed by the finance ministry. In a statement released on Monday, the regulator said the maturity would be 10 years until March 31, 2022, and would be increased to 20 and 30 years over the subsequent six-month period.
The BSE benchmark Sensex surged about 241 points to end at 35,165.48 and the NSE Nifty gained 84 points to close at 10,688.65.
In a boost to the embattled Adani Group, Mauritian Financial Services Minister Mahen Kumar Seeruttun has told the nation's Parliament that Hindenburg Research's allegations of the presence of 'shell' companies in the Island nation are 'false and baseless' and that Mauritius was in compliance with OECD-mandated tax rules. US short seller Hindenburg on January 24 alleged that billionaire Gautam Adani used shell companies based in Mauritius to manipulate stock prices of his Indian-listed companies.
The current sub-prime crisis, in the medium-to-long term period, will accelerate global sourcing adoption as financial institutions are exercising the option to cut costs. The institute predicts that outsourcing from the financial services sector have the potential to increase 40-45 times the current market size over the next five years, with key drivers of growth coming from cost pressures and the timely advent of more vertical-specific offerings by offshore suppliers.
...followed by financial services, IT, and sales and marketing.
The credit guarantee cover under the scheme would be both transaction-based (for single eligible borrowers) and umbrella-based (for a group of eligible borrowers).
'We are most bullish on all aspects of the financial sector -- private sector banks, even one state-owned bank, insurance, mortgage finance, broking, wealth management, gold finance, etc.'
Finance minister Nirmala Sitharaman on Wednesday exuded confidence that inflation would further decline and the government is on track to meet its budgetary target for deficit and said that there is no fear of stagflation in India. Replying to the debate on first batch of Supplementary Demands for Grants 2022-23 in Lok Sabha, the finance minister said inflation has come down and it is now in the tolerable band of the RBI. Inflation has been declining since April 2022 and it is declining further, she said.
Amendment to the Act, sovereign guarantees, investment portfolio, realty holdings, and governance issues to shape valuation.
