The NDB will have an initial authorised capital of $100 billion.
Indradhanush-II is likely to chart out the process for resolution of non-performing assets.
Bankers have hailed the Prime Minister's call to end "financial untouchability" and opened millions of accounts on the inaugural day itself.
Once these banks start showing losses, they will not be able to pay dividends to the government nor pay taxes, which will further aggravate the situation for the government as its return on investment as an investor would be very negligible for the next few years, says M V Subramanian.
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Reliance, Birla Group, Airtel eye small finance banks.
Bad debt rules are steps in right direction.
United Bank of India has denied having defaulted to the tune of Rs 800 crore. It also dismissed any merger talk.
UCO Bank will not allow Kingfisher Airlines to be represented by lawyers in the wilful default case hearing.
With the euphoria over the National Democratic Alliance's victory in the stock market continuing, the rupee is likely to touch 57 to the dollar soon.
The Central Vigilance Committee has sought loan data from United Bank
A magistrate court in Dominica on Thursday sent businessman Mehul Choksi to a state prison, his lawyer in India said, but added that he would continue to remain in hospital as his medical condition "deteriorated".
Licence winners are expected to be announced by the first quarter of 2014.
At the bank's current market price, the stake on offer is worth about Rs 5,700 crore
The Indian Army has deployed a significant number of easily transportable M-777 ultra-light howitzers in mountainous regions along the Line of Actual Control (LAC) in Arunachal Pradesh, military officials said on Thursday.
Members of Parliament, state legislatures, and local governments not eligible to be members of PSB boards
In the week ending July 26 foreign exchange reserves had recorded a rise of $960.2 million to $ 280.16 billion
Two straight years of less than 5 percent economic expansion have led to a surge in bad loans for Indian lenders.
The total direct tax collection stands at a little over Rs 9 trillion, giving the taxman just few days to reach the 2018-19 revised target of Rs 12 trillion., reports Shrimi Choudhary.
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In the global market, the dollar was quoted lower in the early trade with investors looking ahead to the following day's European Central Bank policy decision.
If India grows at 8 per cent, the Indian banks will grow much faster.
For the first time in its history, state-run carrier Air-India will sell its six Airbus A310-300 aircraft to a European bank and lease them back to its fleet for operations, in a sale-and-lease back deal.
The country's merchandise deficit narrowed to $9.2 billion in November, but exports growth eased to 5.9 percent from 13.5 percent in October, government data showed.
BSE Sensex on Monday closed nearly 34 points higher at 26,350.17 with gains in realty, power, FMCG and oil & gas stocks amid sustained buying by domestic institutional investors.
Cairn Energy has threatened the Indian government that it is looking at executing the favourable $1.2 billion international tribunal award in the retrospective taxation case by seizing India's overseas assets.
Mid-cap and small-cap stocks on the BSE were on the buyers' radar on Tuesday as investors booked profits in large-cap shares and the benchmark Sensex fell 264.57 points from a record close.
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
In the offshore non-deliverable forwards, the one-month contract was at 62.26/36, while the three-month was at 62.83/93.
Chinese President Xi Jinping, who made a rare visit this week to the restive Xinjiang region which borders Ladakh, met the troops and officers stationed there and praised their "outstanding contributions" to the border defence and stabilisation of the volatile province.
Rich flow of funds has made Dharmaj one of the richest and most literate villages not only in the state but across the country
Given the pressure from India Inc and the banking fraternity, it is surmised that the portfolio rejig will take place before April.
In 2009, the UPA government, had announced a slew of measures to boost liquidity in NBFCs. These included a scheme for providing liquidity support to NBFCs having assets size of over Rs 100 crore through a SPV.
In the World Bank's rankings on the "Ease of Doing Business" India stands at 139 out of 189 economies surveyed in 2014; its position has in fact dropped from 131 last year.
Anandabazar Patrika reported that Rajan would prefer to go back to the United States after his three-year term expires in early September
However, the Indian capital markets regulator rejected the claim saying it neither received any such request, nor provided any such information to the concerned department in Antigua.
IndusInd Bank, Kotak Bank, ICICI Bank, Sun Pharma, Bajaj Finance and Ultratech Cement were prominent gainers. NSE Nifty rose 176.65 points to 14,867.35.
The rupee had plunged 65 paise in its biggest single-day drop in over six months to end at 61.49 in Wednesday's trade against the greenback, hit by spike in dollar demand and negative cues from local stocks.
Analysts say loan growth, Casa ratio and exposure to sectors under pressure did not indicate any stress at United Bank.
Nirav Modi, along with his wife Ami Modi, a US citizen, brother Nishal Modi, a Belgian citizen, and uncle Mehul Choksi, all accused in the CBI's FIRs in the case, left the country in the first week of January, weeks before country's biggest banking scam surfaced.
The sad truth is that the debt-to-GDP ratio will shoot up close to 90 per cent in the coming year, and the fiscal deficit glide path does not promise to reduce it substantially any time soon, predicts Mihir S Sharma.
Mundra fills the vacancy created by the retirement of KC Chakrabarty in April, two months before his five-year tenure was come to an end.
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