Between April and August, it issued request seeking LoC against 147 individuals to prevent them from leaving the country, the bank said in response to a Right to Information query filed by Pune-based activist Vihar Durve.
'After a long time, we have a governor who is approachable. The RBI's interactions with us are now much better.'
IBA has commissioned a study to evaluate the pros and cons of keeping banks shut on Saturdays.
State-run lenders will take a lead in creation of the bad bank, but the sick asset resolution platform needs the support of private banks and other lenders to be successful, State Bank of India managing director Swaminathan J said on Thursday. If all lenders come on board, the National Asset Reconstruction Company (NARC) announced in the budget will be able to aggregate 100 per cent of a sick company's outstanding loans, which shall ultimately lead to better resolution of the asset quality stress for all. The government is yet to announce the specific contours of the NARC or the bad bank and has also only said that it is willing to provide some sovereign guarantee to help the platform.
Rajan sees banks passing on the benefit of lower rates regime to customers.
Sources say given the complexity involved in the process of creating a holding company, which will ultimately be the parent company of banking and other businesses, banks are going slow in acquiring stakes in insurance arms or mutual funds of other lenders.
Senior bankers are trying to impress upon the central bank that the shift to external benchmark-linked lending be postponed to April 1, 2020.
The ongoing Hamas-Israel conflict has disrupted India's efforts to gain from a recent fall in crude oil prices. Since Hamas' invasion of southern Israel on October 7, petroleum has become costlier by around $5 per barrel, threatening to stoke prices and impact growth. Brent crude was trading at $89.8 per barrel on October 9 (9.15 pm IST), up over 4 per cent, thwarting India's anticipation of a period of declining oil prices - after the leading global petroleum benchmark declined by around 11 per cent last week.
Business is down to such an extent that last year these firms could not even meet RBI's capital norm of Rs 50 million for partnerships and Rs 100 million for public and private firms in this line of business.
According to a 2021 Redseer report, India's overseas education market is estimated to more than double to $80 billion by 2024.
India's $121 billion troubled debt pile, over $100 billion of which is on the books of state-owned banks, has come under close scrutiny from prosecutors, the media and politicians
Rural markets can provide 25 per cent growth over the next decade, says CLSA's Aashish Agarwal.
Rural markets can provide 25 per cent growth over the next decade, says CLSA's Aashish Agarwal.
Mallya, once known as the "King of Good Times" for his flamboyant lifestyle, has until Friday to appear before an IDBI committee to explain why he should not be declared a "wilful defaulter".
The Finance Ministry has invited private sector bankers.
The board is likely to take up the matter this month.
The septuagenarian, who turned teary-eyed, submitted that he misses his wife Anita very badly and said she is in the advanced stage of cancer, according to court records.
These PSU banks also account for the lion's share of bad loans or NPAs plaguing the sector and need crores of rupees in new capital in the next two years to meet global Basel III capital norms.
ICICI Bank has the largest proportion of SDR loans as a percentage of its total, followed by state-run United Bank of India and Canara Bank.
Govt renews search for five PSU bank chiefs; norms relaxed.
Banks are set to sell dud-loans worth Rs 90,000 crore of 22 firms in the first tranche to the National Asset Reconstruction Company (NARCL). It's reason for cheer given that such sales to asset reconstruction companies (ARCs) have been poor in recent times. In fiscal 2020, their assets under management (AUM) contracted by 4 per cent; and in fiscal 2021, it fell by another 100 basis points to Rs 1.07 trillion. So, why are we where we are?
Unlike in the past, when old private banks compromised upon underwriting standards to take on the bulk, they've now realised that scaling up at the cost of quality isn't worth the while. These banks have also readjusted growth targets when required, and rebalanced books to preserve capital and asset quality.
India's largest private sector lender ICICI Bank has hit the Chinese debt market for a benchmark issue of about $500 million.
Though Indian banks don't have large exposure to subprime mortgages, analysts are worried at the rise in their restructured loan portfolios and deterioration in credit quality.
Changing tracks helps. But, not taking the beaten path isn't always helpful. This is the story of two of India's biggest privatisations - Air India and Bharat Petroleum (BPCL). Nearly two decades after the last privatisation, a landmark divestment concluded this year when the loss-making national carrier Air India was sold to the Tatas.
Disgruntled executives are already pinning hopes on the new banks, too.
Habib Bank along with state-run National Bank of Pakistan had applied to RBI, India's banking regulator, for starting operations in India, while SBI, PNB and Bank of India had sought appoval for going to Pakistan.
All political parties put together received more than Rs 12,000 crore till last fiscal since the introduction of the now-annulled electoral bond scheme in 2018, of which the ruling BJP got nearly 55 per cent or Rs 6,565 crore, according to the data available with Election Commission and Association for Democratic Reforms (ADR).
The NPA of the public sector banks rose to 6.03% as of June 2015.
The maximum number of banks are from the US (74), followed by China (29) and South Korea (26).
For the baning sector, 2018 was a 'Year of Exits' - borrowers fled from the country as loans went kaput and many bank CEOs were forced to leave
Only three of India's 45 commercial banks have cut base lending rates since the Reserve Bank of India's surprise easing this month, hurting the government's drive to lift business investment.
While the government has infused huge capital into PSBs, the same has largely been used to mitigate losses and has failed to contribute meaningfully to credit growth.
Finance secretary Rajiv Kumar was positive in formation of a committee consisting all concerned to address the issues arising out of the proposed merger of 10 banks including preserving the identity of all the banks.
The probe into selections for banks such as Bank of Baroda and Canara Bank followed the arrest of Syndicate Bank CMD S K Jain for alleged graft.
Rajan said RBI should pay as much dividend as possible to the government, which over the past two years has run into billions of dollars
China on Tuesday announced that its Defence Minister General Li Shangfu will visit India this week to attend the meeting of SCO defence ministers from April 27 during which he is expected to hold talks with his Indian counterpart Rajnath Singh on ending the prolonged eastern Ladakh standoff which has severely strained bilateral ties.
The rise in reserves was $2.12 billion.
Forex dealers said besides dollar's gains against other currencies overseas, increased demand from oil importers for the US currency put pressure on the rupee.
Letter to corporate affairs ministry cites slowing economy, capital challenges.
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