The ailing United Western Bank on Thursday submitted a scheme of reconstruction to the regulator Reserve Bank, which has placed it under moratorium due to erosion of networth.\n
Global rating agency Standard & Poor's said on Thursday United Western Bank's huge bad loans may affect IDBI's financial profile negatively.
The board of directors would meet on September 21 to discuss the details of the scheme, a bank source told PTI in Mumbai.
Temples across Uttar Pradesh were packed with devotees on Sunday for Ram Navami, with Chief Minister Yogi Adityanath leading prayers at the Gorakhnath Temple. Heavy crowds were witnessed at temples in Lucknow, Gorakhpur, and Varanasi, where security was heightened. In Gorakhpur, Adityanath performed the traditional kanya pujan ritual, while in Varanasi, a 51-foot statue of Lord Ram has become a major attraction. The festival was celebrated with enthusiastic fervor across the state.
The trigger for international gold prices rising to $3,000 per ounce was Germany's upcoming heavy government borrowing.
Russian shipments averaged 1.67 million barrels per day in January compared to 1.48 million bpd in December and 1.53 million bpd a year earlier.
If as critics point out, the environmental impact assessment study was commissioned only after the auction process got underway with not all the stakeholders getting to know of it, then the government has already compromised the trust it could have enjoyed with Kerala's public including its coastal communities, points out Shyam G Menon.
The solution to Manipur's problems lies in the government giving concessions to Meitis in jobs and education and to accept autonomy for the tribal dominated areas inhibited by the Kukis, suggests Colonel Anil A Athale (retd).
The US involvement in Ukraine and the Middle East is a distraction which has to end quickly so that the main business of China can be focussed on. China is America's only peer competitor, not Russia and not anybody else. Therefore it makes little sense to be diverted from the overall mission, explains Aakar Patel.
Its obsession for growth, chasing corporate clients and giving up its original mandate of meeting the needs of local trade and businesses. A quarter of its loan book has gone bad. That's an error of business strategy, points out Tamal Bandyopadhyay.
The sanctions by Western nations came in response to a report by the UN atomic watchdog International Atomic Energy Agency about Iran's nuclear programme and after their proposal to impose new sanctions in the United Nations was blocked due to opposition from Russia and China.
Mining magnate Anil Agarwal's conglomerate on Friday announced a major business shake-up, with flagship Vedanta Ltd approving a spin-off of its metals, power, aluminium and oil and gas businesses into separate listed entities and an overhaul of lucrative zinc unit planned as part of value creation and reducing debt load. Vedanta will issue one share of the five demerged businesses for every share held in the company, the firm said in a statement. The entire exercise, which would require shareholder and lender approval as well as a nod from the stock exchanges and courts, is expected to be completed in 12-15 months, its president for finance Ajay Agarwal said.
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.
In the months immediately following the 2024 tragedy, reporting on the landslide per se had been a straightforward affair. On one side was death and destruction. On the other side, survivors and the business of survival. It was black and white. What direction to take was clear. Rehabilitation in comparison, felt like a complex situation. One that is fraught with shades of grey. As grey as human life, explains Shyam G Menon.
'The race is now on for Indian IT firms to develop their AI prowess and focus on a software-first approach to services as the people element becomes more complicated with Trump's expected new regulations.'
Five photos of western style toilets were presented to convince the court that acceptable standards would be extended to Mallya.
The banking regulator is seeking an early exit mechanism for private banks under Prompt Corrective Action.
These sweeping financial sanctions follow the action earlier this week to cut off Russia's frozen funds in the United States to make debt payments.
SP president Akhilesh Yadav and RLD chief Jayant Chaudhary announced the tie-up on social media for the elections later this year.
For the party's traditional vote bank -- traders -- demonetisation was a 'political betrayal.'
The United Kingdom government on Tuesday imposed tough sanctions against five Russian banks and three super-rich oligarchs from the country over President Vladimir Putin's aggressive action on the Ukraine border.
Russia proceeds "from the postulate, a negotiated solution to the Palestinian-Israeli conflict has no alternatives," said Putin while speaking at the Commonwealth of Independent States summit in Bishkek, Kyrgystan on Friday.
A US special envoy met senior Taliban representatives in Tashkent, Uzbekistan, and discussed the issue of Afghan central bank reserves.
'INDIA will easily cross 50 seats out of 90 in Jammu and Kashmir.'
In March 2021, Ola Electric founder Bhavish Aggarwal was seen surveying an empty 500-acre land surrounded by shoe factories, temples, bakery shops, coconut trees and dusty roads in Pochampalli town of Krishnagiri district, Tamil Nadu. Many excavators and workers were busy at the construction site to build the Ola Futurefactory for electric vehicles.
'I think of that young baby, still in her diapers, balancing with her arms held up by her mother, a Tamil woman wearing a salwar kameez and a dupatta, seated on a stoop,' recalls Aseem Chhabra.
Will the Financial Resolution and Deposit Insurance Bill endanger our bank deposits?
The response was tepid in other parts of the country even as several INDIA bloc parties as well as other non-BJP outfits extended their support to the bandh.
'There's no pro-China tilt in BRICS.' 'All these countries want to be close to China, but they are all good friends of India also.'
The SP president and the RLD chief announced the tie-up on social media for the general elections later this year.
There is a sudden realisation in party circles that prolonged court cases could damage its standing, both among the cadres and voters, observes N Sathiya Moorthy.
The oil industry experienced three upheavals between 1973 and 1991, which seem to be etched in the memory of the industry's decision makers. Naturally, at the sign of a new crisis, the decision makers like to dip into those tumultuous decades to find ways to deal with the new shock, in addition, of course, to expert reports and forecasts. So, the industry bigwigs turned the pages of history to get a peek into the future of oil price movements after Russia invaded Ukraine in 2022, Israel attacked Gaza in 2023, Iran-linked Houthi rebels pounded tankers crossing the Red Sea in support of Palestine the same year, and Iran rained missiles on Israel in 2024.
The meeting is expected to chart a road map for cleaning up their balance sheets and boost credit flows, reports Somesh Jha.
'But unlike Bond who killed an individual, Israel is killing a nation.'
India's voting pattern in the United Nations with regard to the Israel-Palestine conflict is lately marked by a calibrated distancing from Israel, observes Ambassador M K Bhadrakumar.
According to Association officials, Indian Banks' Association offered only a 11.5 per cent increase in hike compared to 17.5 per cent offered in 2011-12.
India's first-ever Olympic medallist in women's boxing Mary Kom has been honoured with the Global Indian Icon of the Year award at the annual UK-India Awards in Windsor.
