The Reserve Bank on Wednesday said the amalgamation of Lakshmi Vilas Bank with DBS Bank India will come into force from November 27 and the moratorium imposed on the crisis-ridden lender will be removed on that day. The RBI issued the statement within hours of the Cabinet clearing the Scheme of Amalgamation of Lakshmi Vilas Bank Limited (LVB) with DBS Bank India Limited (DBIL).
'A change we have seen after the Russia-Ukraine war is the energy crisis in Europe.' 'Earlier, in Europe, people used to change their clothes after 5 washes, now they are using it till 15-20 washes.' 'They used to change their entire wardrobe after 2 months or so, but because of the economic conditions, it has changed.' 'It has affected exports as 40% of our exports is to Europe, 30% to the US and 10% to the UK.' 'The war has to end for better days to come.'
'Top lines will grow, volume growth will be there, but margins might also be impacted.'
'You can't be leading when you're batting at number 7.'
RBL Bank is no Yes Bank. It's not fraught with fraud. It's a story of limitless ambition and greed for growth under a leader who doesn't want to give up, says Tamal Bandyopadhyay.
'2022 has not been -- and will not be -- the kind of 2021 bull market, which lifted all boats.'
'War is never a solution. It's nothing but real estate business I am against any kind of violence.'
Both Chakravarthy and Warrier did not show any major symptoms for the infection.
Poor governance and mediocre short-sighted politics are destroying the paradise that Goa was as its environment, water table, culture and way of life is drastically threatened by tourism and migration, points out Ramesh Menon.
'For a responsible person like him to utter such nonsense is shameful.' 'He is not fit to be a director on the RBI central board.'
A new generation of investors has taken to stock trading on mobile phones with a renewed zeal, driven mainly by social changes after the Covid-19 pandemic breakout. The proportion of the cash market turnover ascribed to mobile phones has jumped from 5.3 per cent in June 2019 to 18.7 per cent in June this year, reveals BSE data. The share of mobile trading on the National Stock Exchange (NSE) for June this year stood at 19.5 per cent.
Former India captain Sunil Gavaskar picked Rohit Sharma to lead India in T20 Internationals after Virat Kohli, while KL Rahul and Rishabh Pant are his two options as the vice-captains in the shortest format.
'You have to be a total anti-national bozo to shut down the Nokia plant in Sriperumbudur, which was the first large manufacturing plant for mobile phones in India.' 'Why was the unit shut down? Because of somebody's ego.'
'I'm terrible at goodbyes, the world's worst'
We'll need to wait a couple of years to see how many restructured loans turn bad and whether some banks fall victim to their obsession for growth, explains Tamal Bandyopadhyay.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
ATKMB were scheduled to leave for Maldives on Monday but that plan stands cancelled after the AFC's announcement, which did not specify why the games were being postponed.
'All three games we were in it but we were not able to finish it off'
If the industrial sector expanded, growth rate is likely to rise in the remaining quarters to reach 7.6-7.8 per cent for 2017-18.
Poonawalla also warned against the return to 'the business as usual' approach of the administration in the national capital, saying 'we can't afford to put a price tag on the life of a citizen' as the pandemic is 'not behind us yet nor we know by when it will be'.
The legendary Sunil Gavaskar wants Rishabh Pant to succeed Virat Kohli as the next India Test captain as he believes a sense of responsibility will make the glovesman a better cricketer in all forms of the game.
DBS Bank India on Monday said customers of Lakshmi Vilas Bank, which has now been merged with it, can continue to access all banking services, and interest rates on savings and fixed deposits are unchanged as of now. Lakshmi Vilas Bank (LVB) has now been amalgamated with DBS Bank India Ltd (DBIL), the wholly-owned subsidiary of DBS Group Holdings Ltd, DBS Bank India said in a statement.
Pakistan's National Assembly resumed its crucial session on Monday after a two-day recess where Opposition is likely to formally table the no-trust motion against embattled Prime Minister Imran Khan amidst fluid political situation in the country.
'The prospects for both India and the global economy is that we are headed towards a very difficult time.' 'I see very uncertain at least 8-10 months for both India and the rest of the world.'
'I'm 79 + now, and I've been doing all this since my late 20s.' 'Sometimes the ideological war extends to the home as well.' 'Many nights I couldn't sleep when someone close to me uttered the smallest insult.' 'It would cause me a lot of pain. But one has to be honest to oneself.'
Flush with liquidity, banks are eager to lend. And, therein lies the problem, warns Tamal Bandyopadhyay.
Delhi Capitals head coach Ricky Ponting was awestruck by Mahendra Singh Dhoni's cool demeanour under pressure, describing the legendary Chennai Super Kings skipper as one of the greatest finishers of the game.
'The IPL was a big learning for me that whatever you do at this level, you should be confident about yourself.'
Axar Patel starred with the ball in the Super Over to help Delhi Capitals edge past Sunrisers Hyderabad in a thrilling IPL match at the MA Chidambaram Stadium in Chennai on Sunday.
The Securities and Exchange Board of India does not seem to have understood the enormity of what funds have been up to. If Sebi does not crack down on mutual funds using cooked-up credit ratings to hide behind promoter funding, this is bound to grow into a systemic menace, says Debashis Basu.But MFs decided to become lenders without the legal backing to secure themselves, or the skillset to assess lending risk. If Sebi does not crack down on mutual funds using cooked-up credit ratings to hide behind promoter funding, this is bound to grow into a systemic menace, says Debashis Basu.
Axis Bank's acquisition of Citibank's consumer finance business for Rs 12,325 crore - the second biggest deal in the Indian banking sector - is seen as a good deal at a good price. The acquisition enables Axis Bank to close the gap with competition in some key segments such as credit cards. At the same time, there are some key issues that are crucial for the deal's success, apart from the fact that it will take some time for Axis to reap the full harvest of its investment.
'This issue is related to national security because they were compromising the entire capital markets's core infrastructure by leaking confidential information.' 'What would have happened if the servers had come down?' 'Or some confidential information leaked to terrorists who could have knocked out our capital market?'
The Reserve Bank of India's (RBI's) move to ban Mastercard from issuing new cards for not complying with the local data storage guidelines may hit five private banks, a non-bank lender, and a major card-issuing company. The impact is expected to be felt for a few months as these players transition to other card networks. According to Nomura Research, RBL Bank, YES Bank, and Bajaj Finserv are the ones most impacted by the ban as all their credit card schemes are allied to Mastercard. Among others, IndusInd Bank, Axis Bank and ICICI Bank have 35-40 per cent of their credit card schemes tied to Mastercard, the report said.
Delhi Capitals skipper Rishabh Pant credited his bowling unit, especially experienced leg-spinner Amit Mishra, for his side's six-wicket victory over defending champions Mumbai Indians in a low-scoring IPL match, in Chennai, on Tuesday.
'They are not tom-tomming what a great thing the Supreme Court decision is.' 'If they say it was a great thing, the public will react because people suffered and are still suffering.'
Biden previously stated he did not believe the Russian leader had made up his mind but acknowledged his insights into Putin's thinking were limited.
His advice was to always start with small positions because we are bound to make mistakes; and remain humble because the markets can be merciless, remembers Debashis Basu.
'If you persist in opposing the government, they set the ED or the NIA on you. And the courts have not given us much hope.'
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Zee Entertainment last week witnessed shareholder activism that saw an open call for the ouster of promoters and the incumbent management led by Punit Goenka. Besides, Dish TV also faced a similar call earlier this month. The trouble at Zee Entertainment can be gauged from the fact that this is a unique company wherein the promoters own just 3.99 per cent, but fully control the firm.
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