RCap had proprietary investment book of Rs 2,000 crore (Rs 20 billion) as on end-March and owns stake in a host of companies.
'When there is unlocking, there is demand revival.' 'This is going to be the main growth engine in this kind of an economic scenario.'
To ease pressure due to the coronavirus lockdown, corporate have asked banks and the government for a six-month liquidity line, so that they can pay off their suppliers and employees.
'The CM kept his cool, but his adviser was liberal with filthy language.' Tamal Bandyopadhyay recreates the diary of a general manager in a public sector bank, providing a glimpse of how they balance their work and life.
India may adopt norms similar to the US Federal Reserve model, which regulates conglomerate-led banks in the country.
No capital came in through the approval route, while the rest of $9,86,681 was by way of issuance of rupee denominated bonds.
The World Bank would provide loans to India at higher than its existing concessional rates but lower than the market rate.
After agonizing over this for weeks, he made a decision. When they met after work one evening, he startled her by blurting out, 'I think we should break up.' A moving excerpt from Chitra Banerjee Divakaruni's An Uncommon Love: The Early Life of Sudha and Narayana Murthy.
'We will test the waters, ferret out information through our business correspondents, and only then open a branch'
Banks to be permitted to raise long-term funds for lending to infrastructure sector with minimum regulatory pre-emption such as CRR, SLR and Priority Sector Lending.
After four-odd years of focusing on reducing debt, the series of deals with Etihad could finally get it out of the spiral.
Rajasthan is reeling under a huge financial burden with the state's debt having gone beyond Rs 5.59 lakh crores. Rajasthan has increased expenditure on education by 203.4 percent, by 105.4 percent on health, by 227.14 percent on housing. Its expenditure on social welfare schemes has increased by almost 2,475 per cent.
Cox & Kings had a total debt of Rs 3,238 crore at end of FY19 and this included both short-term and long-term loans.
According to highly placed sources, the finance ministry is likely to extend ECLGS and other loan guarantee schemes for micro, small and medium enterprises (MSMEs), hospitality and tourism sector, and the health infrastructure beyond March 31, Business Standard has learnt. This is likely to be announced by Finance Minister Nirmala Sitharaman as part of her Budget speech on February 1.
While weather forecasters remain divided on how the monsoons will play out in India over the next few months, analysts believe the news at the current juncture - at best - can trigger a knee-jerk reaction in the markets. They believe it is too early to say whether the sub-par monsoon on account of El Nino can seriously dent the market sentiment in the short-to-medium term. "These are just initial forecasts and we will have another round / status update from the weather forecasters a month down the line.
The action comes days after the CBI registered an FIR in the country's biggest alleged bank loan fraud case till date.
Non-performing loans in the Chinese banking system stood at RMB 1.27 trillion at the end of 2015.
'In their over-enthusiasm to clean up the system, both the banks and the regulator should not forget that the key to the insolvency law is revival of companies -- recovery of bank dues is an offshoot of that,' points out Tamal Bandyopadhyay.
Both Jet Airways and Go First have met with a similar fate of landing up in insolvency, albeit for different reasons. Whether Go First will be able to avoid the sharp erosion in value like in the case of Jet, experts say, will depend on how quickly it is able to restart operations and retain its slots at airports. Go First, owned by the Wadia group, filed for voluntary corporate insolvency resolution on May 2 due to inadequate capacity utilisation that led to a cash crunch.
'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.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
While the COVID-19 pandemic has completely halted production and new orders, exporters say that payments have also been delayed for the shipments sent before the lockdown. Exporters say some customers are not taking delivery of the shipments because they have shut shop. Ready-made garment players had been hoping for a revival in demand in China but with the virus spreading to Europe, the US and other major markets, there are no orders coming from the major retailers.
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
Did you know that an individual can, in addition to the tax benefits she/he is entitled to, also leverage the benefits available to family members to reduce this liability?
Since arraignment under money laundering is a tougher offence, the CBDT hopes it will also overcome its dismal score sheet to prove satisfactorily to the courts that these cases were genuine ones of tax evasion.
Longer-tenure FDs generally give higher returns. Nonetheless, going for a tenure higher than two to three years is not advisable.
The government plans to inject a total Rs 70,000 crore into the lenders over four years
Two straight years of less than 5 percent economic expansion have led to a surge in bad loans for Indian lenders.
The difference between what the banks play in the US and India is not that of soccer and football but rugby and football. SVB also has a unique character. But when risks are mispriced, the fallout could be very similar, points out Tamal Bandyopadhyay.
'This segment has performed very well for us and this is reflected in our bounce rate which is about three to four per cent.'
Apart from easing the NPA pressure on domestic banks, the RBI's move can allow companies to raise cheap, long-term loans easily now.
A large percentage of total tourism business activity of India, which is estimated at $28 billion+ in forex and upwards of Rs 2 lakh crore in domestic tourism activity will be at economic risk through the year.
India should have done more to protect jobs during the pandemic, a senior official from a global consultancy firm said on Tuesday. Alok Kshirsagar, a senior partner with McKinsey & Company, said the United Kingdom ran a very effective programme to protect employment through the payroll protection initiative, while the US was also not so effective because they were not well-targeted."I think in India, frankly, we should have done more to protect employment in some way, shape or form," Kshirsagar said while speaking at an event organised by industry lobby grouping CII. It can be noted that unemployment had touched record highs during the pandemic across the organised and unorganised sectors.
After Congress questioned the logic of the $1 billion loan to the Adani group, the Communist Party of India (CPI) on Friday joined issue demanding RBI's intervention in the matter.
After the Insolvency and Bankruptcy Code came into force, which calls for an auction of assets of loan defaulting entities, recoveries have picked up, said Jaitley.
In such frauds customers get calls asking them to share their OTP in order to postpone their loan EMIs. Once the OTP is shared the amount is immediately siphoned away by fraudsters.
Banks have written off bad loans worth Rs 10,09,511 crore during the last five financial years, finance minister Nirmala Sitharaman informed Parliament on Tuesday. The non-performing assets (NPAs), including those in respect of which full provisioning has been made on completion of four years, are removed from the balance sheet of the bank concerned by way of write-off, she said in a reply to Rajya Sabha. "Banks write off NPAs as part of their regular exercise to clean up their balance sheet, avail tax benefit and optimise capital, in accordance with RBI guidelines and policy approved by their boards.
Whether it was the MGNREGS or the NFSA or the Aadhaar-based DBT scheme for cash transfer, the Modi government has built on the basic architecture created by the Singh government. Policy makers in the Modi government, instead of discarding them as products of the previous political regime, worked on them, expanded their scope and reach, and used new tools to improve their performance, explains A K Bhattacharya.
These are the highlights of the seventh bi-monthly monetary policy statement for 2019-20 by the RBI amid COVID-19 pandemic:
With the merger between HDFC Bank and HDFC Ltd complete, analysts said the next key monitorable for the Street would be successful resolution of merger-related hiccups, including employee-related churn and roll out of complete banking services across branches. At the bourses, they expect the stock to perform in-line with the benchmark indices in the near-term. "There's usually an initial period of consolidation after a merger as the entities work towards integration.
