'Nobody will wait now. Everyone will come to deposit their old notes. The confidence is shaken.'
Purists may balk at this level of public discourse, but no one can deny its ability to marshal opinion.
'So you have a middle class, and an elite that have seceded into outer space and they look down and say, "What's our bauxite doing in their mountains?" and "What's our water doing in their rivers?" There's a sense of entitlement there.' Arundhati Roy captures minds with her thoughts on capitalism, Indian politics, war, and more in New York.
Employee integration and branch rationalisation are major challenges.
'Consolidation was part of the Indradhanush package.'
Olympic medallists P V Sindhu and Saina Nehwal made a resounding start to their women's singles campaign but it was Sameer Verma who hogged the limelight with a stunning straight-game win over Korean Son Wan Ho in men's event in the opening round of the India Super Series in New Delhi on Wednesday.
Abhishek has been posting fond memories and interesting anecdotes on Instagram, recapping his #RoadTo20.
With the 50 bps rate cut now more banks are expected to reduce their base rate.
SBI raised Rs 8,032 crore (Rs 80.32 billion selling 5.13 crore shares through a QIP in January.
Star shuttler and Olympic bronze medallist Saina Nehwal of India will begin the hunt for her first title of the season and also eye a return to the top-5 when the China Open Super Series Premier starts with the qualifiers in Shanghai from Tuesday.
Financials emerged as the top gainers while auto shares rallied on robust September sales
Bankers said high interest rate could make Indian economy sluggish given that inflation is around 5%
Umar claimed that he was being labelled a terrorist because of Islam, which, he said, he did not practise.
SBI Chairperson Arundhati Bhattacharya said any rate cut by the bank would depend on a lot many factors.
'I assume Ramachandra Guha's neglect of this aspect of Gandhi grows out of the belief that Gandhi's life had no central text,' says Rudrangshu Mukherjee, professor of history, Ashoka University.
Rising shuttlers PV Sindhu and K Srikanth lead the way for Awadhe Warriors as they crushed Krrish Delhi Smashers 4-1 in the inaugural Indian Badminton League (IBL) in Pune.
Rashtriya Swayamsevak Sangh mouthpiece 'Organiser' has justified the action taken against a Dalit students body by IIT, Madras, and claimed educational campuses are "afflicted with red ideology."
The NITI Aayog may want us to believe this is one of the easiest payment systems in the world, but Tinesh Bhasin decodes the many unanswered queries and concerns involving the United Payments Interface.
SBI has been reeling under a mountain of bad loans for the past few years as the key sectors in the economy are faltering.
Within hours of rate cut announced by RBI, United Bank has reduced the benchmark lending rate by 0.25 per cent, while other banks including market leader SBI have indicated that they would follow suit.
Despite Indian economy recovering, there is very little room for loan growth, say bankers.
RBI said the outlook for economic growth for 2016-17 has turned uncertain after the unexpected loss of momentum by 50 basis points in Q2 and the effects of the withdrawal of banned notes
Hungarian author Laszlo Krasznahorkai won the prize worth worth 60,000 (Rs 59 lakh).
'The CAA should be kept in abeyance, without making it a prestige issue.'
'Laying down a clear policy on the future of illegal migrants will dispel anxieties and help in implementing the CAA, NPR and also the NCR,' suggests former Union home secretary Dr Madhav Godbole.
The development of the coal mine located at Queensland in Australia and required infrastructure including railways would cost $7.6 billion.
Lenders fret over stubbornly weak credit growth and still high funding costs.
India Inc has pitched for rate cut to boost economic activities.
Most say a rate cut could come in RBI's June policy.
The Reserve Bank is unlikely to lower the interest rates.
The gross non-performing assets of public sector banks rose to 6.03% at the end of June.
Another 24 filmmakers including Kundan Shah of "Jaane Bhi Do Yaaro" fame and Saeed Mirza and writer Arundhati Roy today returned their National Awards over "growing intolerance", voicing fears that the country's robust democracy might be "coming apart" in the current atmosphere.
The Ambani brothers, Mukesh and Anil, came together on Thursday to raise the issue of stalled projects plaguing India Inc and implored the Maharashtra government and the Centre to make Mumbai, India's financial capital, an easier place for business and investments. "Several projects are stuck for many years in Mumbai and we would like to know how the government intends to improve the financing and execution of projects, including those relating to infrastructure and education which have been in limbo for long and are affecting the growth of the city," Reliance Industries Ltd (RIL) Chairman Mukesh Ambani told Finance Minister Arun Jaitley. Seated on the same table was his brother, apart from Tata Group Chairman Cyrus Mistry and State Bank of India (SBI) Chairman Arundhati Bhattacharya. Jaitley was addressing the Mumbai Next MMR Transformation conclave, organised by the Maharashtra government and Mumbai First here, through video conference. In his reply, Jaitley said the government was exploring several options of infrastructure financing in India and that a number of international bodies were ready to fund infrastructure development projects. He added the government was keenly considering these funding sources. While praising Maharashtra Chief Minister Devendra Fadnavis for honesty, Jaitley also had a word of advice. Apart from being honest, the government had to be decisive, he said. On his part, Reliance Group Chairman Anil Ambani told the chief minister about his experience of decisions being delayed due to an indecisive bureaucracy and the need to protect officials who wanted to take quick decisions. "Through the past many years, we have faced a number of obstacles in decision-making," he said, adding he was speaking as someone who had lived and invested in Mumbai. Fadnavis responded by saying he would bring about a transparent process to ring-fence officials. Both the Ambani brothers have announced a number of infrastructure projects in and around Mumbai, including a world-class convention centre in Bandra Kurla Complex by RIL, but very few have actually fructified. RIL's special economic zone project failed to take off due to land acquisition problems in Raigarh, while a second SEZ near Mumbai is stuck due to lack of clarity in SEZ norms. The first phase of the Mumbai Metro, set up by Anil Ambani's Reliance Infrastructure, was marred by cost overruns and run-ins with the government over fares. Subsequently, the company withdrew from the second and larger phase, citing inordinate delay. Anil Ambani also withdrew from Mumbai's sea link project on the same grounds. The brothers had also bid for a trans-harbour sea link between Navi Mumbai and Mumbai under the Congress-Nationalist Congress Party government, but their bid was rejected. Reliance Infrastructure is also the power supplier to more than half of this city. Participating in the conclave, some of India Inc's leading bankers said making Mumbai a financial hub would take at least a decade. SBI's Bhattacharya said the Indian currency should be made fully convertible and facilities should be created for it. "However, for this, the economy needs to look up and that will happen only in the next 7-10 years, not immediately," she added. Sunil Kaushal, Chief Executive Officer of Standard Chartered, India, pitched for strong infrastructure to support development. "We will take a long time to develop into a global financial centre. We need to solve transport bottlenecks in Mumbai and have lifestyle facilities for people working in and around these areas," he said.
RBI rule, applicable prospectively, also for non-group guarantors.
The American, who moved from US Navy to the corporate world, is considered best suited for this role because of her understanding of both production and distribution. Arnab Dutta & Viveat Susan Pinto report.
Issues related with intellectual property rights, including piracy of films and software, figured prominently during the India-US CEO Forum in New Delhi attended by Prime Minister Narendra Modi and US President Barack Obama.
'RBI and the economy will gain tremendously from Urjit Patel's experience in both private and public sectors'
SBI had a tough journey in the last 40 years.
FinMin officials say an announcement could be made in the Budget.
Will demonetisation lead to a rate cut, leading to higher quantum of lending?
