Kapoor is already facing an ED criminal case for receiving alleged kickbacks, through companies purportedly controlled by his family, for going slow on bad loans extended by his bank to some big corporate.
'Visibly there is a posturing that everything is fine. That creates a bit of a problem.'
Tamil Nadu-based Lakshmi Vilas Bank (LVB) with pre-independence lineage on Friday lost its identity after its merger with the Indian subsidiary of Singapore's DBS Bank. The debt-ridden 94-year old old bank's fate was sealed with Union Cabinet headed by Prime Minister Narendra Modi approving Scheme of Amalagamation on Wednesday.
'The ship has been stabilised.' 'For the last 6-7 quarters, profitability is stable around Rs 250-Rs 300 crore.'
'The China opportunity, the digital opportunity and the end of geography opportunity are the three pieces of luck India got due to Covid.'
'I was not scared because I knew I had not done anything wrong. And I was walking for a good cause.'
A feature of 'Third World-ism' is lack of accountability. Whether and how the Modi government is held to account politically is a matter for the future, observes T N Ninan.
'On the evening of the 17th, the RBI said the bank was put on moratorium.' 'Within an hour, the RBI said it would be merged with DBS.' 'How did DBS come to know within an hour that LVB was in trouble?' 'It means, what happened was match-fixing.'
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
'...Rs 137 lakh crores of people's money?' 'It is not the government's money, it is people's money.'
The FIR was lodged at the Sector 20 police station in Noida following a complaint by a resident who alleged that "digital broadcast" and "social media posts" by these people were responsible for the violence during a tractor rally by farmers in the national capital. The journalists named in the FIR are Mrinal Pande, Rajdeep Sardesai, Vinod Jose, Zafar Agha, Paresh Nath and Anant Nath.
Listed companies' net profit as a percentage of gross domestic product (GDP) has hit a decadal high and is expected to edge even higher over the next two financial years. According to an analysis by ICICI Securities, India's Inc net profit stood at Rs 8.4 trillion, or 4 per cent of GDP of Rs 210 trillion for the trailing 12-month period ending September. This is the highest since financial year 2011-12 (FY12), when it was at 4.6 per cent.
Mired in corruption, politics and with a history of suicides by its hapless depositors, PMC Bank's revival is a challenge very different from Yes Bank and LVB, both for the regulator and the rescuer, observes Tamal Bandyopadhyay.
In mid-2020, when Kushal Pal Singh, the undisputed king of India's vast real estate market, relinquished the top post at the country's largest realtor, he left behind an empire that is best compared to the Greek myth of the Phoenix. Once the leader of Delhi's organised real estate market, DLF's steep decline in the 1970s and its majestic rise since has often been cited as a business resurrection story. Now, a year after his departure from the helm of affairs, history seems to be repeating itself at the real estate major. In the 1970s, it was the government prohibitions that had forced DLF to venture into uncharted territory; some five decades later, the Delhi-headquartered firm has set its eyes on another growth trajectory that holds immense potential.
Delhi Capitals' bowling coach James Hopes also said that Iyer's return has allowed the franchise to play an ideal line-up.
Markets regulator Sebi is contemplating reforms in the IPO norms, especially on the book building, fixed price aspects and certain provisions pertaining to price band, its chief Ajay Tyagi said on Wednesday. Apart from initial public offer (IPO), the regulator is looking into further reforms on preferential issue front, Tyagi said at the FICCI's annual Capital Market Conference. He further said that the focus on review of equity fund raising norms will continue in the near future.
Conversion of debt of the stressed telecom player Vodafone Idea Ltd (VIL) into equity could be an option to emerge out of the crisis, lenders led by State Bank of India (SBI) have suggested to Department of Telecommunications (DoT). DoT had called senior bank officials on Friday to discuss the stress in the telecom sector arising out of the Supreme Court order last month on the adjusted gross revenue (AGR)-related dues payable by telecom majors, including Vodafone Idea and Bharti Airtel, sources said. The top court has given a time period of 10 years to telecom service providers struggling to pay Rs 93,520 crore of AGR-related dues to clear their outstanding amount to the government.
Making a scathing attack against the Left government, he said the practice of giving pension benefits to the personal staff of ministers just after completing two years a few months ago was a 'gross violation and abuse of authority.'
The companies that have seen sharp erosion of market wealth include YES Bank, Indiabulls Housing Finance, Zee Entertainment, Vodafone Idea, and Bharat Heavy Electricals.
'India has many attractive features for the long-term investor; it combines: A low per capita income, a young population, and a heavier presence of high margin, asset-light firms in the technology sector.'
'Banking is a business of trust.'
With Delhi Capitals head coach Ricky Ponting calling Ravichandran Ashwin "one of the most successful spinners in IPL history", the 33-year-old feels he has started understanding his role better.
'There will always be a challenge to maintain a fine balance to ensure that the growth keeps happening and inflation is contained.'
'How can you explain the necessity of selling an institution that has been delivering regular returns to the government, that has never asked for any capital from the government, that has invested Rs 38 lakh crores in the Indian economy and that owns 4 per cent of the market capitalisation in India?'
Prime Minister Modi has certainly pulled back, and his political capital -- dependent as it is on an image that he knows best and never retreats -- may have taken a bit of a beating. But, equally, it is hard to say that the protesters have 'won', argues Mihir S Sharma.
'The government could not even ensure the payment of wages by the private sector during the lockdown.' 'We have experienced all kinds of exploitation during the pandemic.'
'It has taken us 15 years to get to where we are. It obviously doesn't happen overnight.'
Yes Bank was the top gainer in the Sensex pack, soaring 24.03 per cent, after the lender said it had received a binding offer for $ 1.2 billion funding from an overseas investor. SBI, Infosys, Tata Motors, Bharti Airtel, HCL Tech and HDFC too rallied up to 7.69 per cent.
'We need to retell this history from many different perspectives.'
This is a key reason for the finance ministry's objection to fixing the tenure at 100 years, as it is pushing PSBs to be self-dependent and raise funds from the market, reports Hamsini Karthik.
'There is fear that the president and prime minister are dragging their feet and won't resign.'
There are, however, a few aspects to factor in before considering G-Secs as an investment option, advises Bindisha Sarang.
'What do the moves towards protectionism suggest?' 'That we do not have Aatmavishwas.' 'If you have self-confidence, confidence in your ability to compete with the best in the world, why do you need protectionism?'
Nitin Menon left the IPL bio-bubble after his wife and mother tested positive for COVID-19.
Ishant Sharma bowled full tilt at the National Cricket Academy with an aim to get fit for India's four-match Test series in Australia,
The rot is is not limited to Chitra Ramkrishna and the yogi, observed Debashis Basu.
Ganguly said skipping matches is not the way to go.
'Kindling the private sector's animal spirits is more important than focusing on how government can give jobs on its own.'
'The fiscal pressure will be there, but the intent of the government behind this move is to spur demand and growth.'
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