The bosses of SBI, Union Bank and Central Bank have been driving down to their offices everyday to take stock of the biggest loan drive ever undertaken for MSMEs, discovers Tamal Bandyopadhyay.
'Initially, Gift City was just another real estate project, but all that changed with Modi moving to New Delhi,' notes Tamal Bandyopadhyay.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'It may sound like sacrilege, but does it really matter if the global raters downgrade India for fiscal slippage?' asks Tamal Bandyopadhyay.
While IDBI Bank's 140 million customers and 1800-odd branches will come in handy for LIC to hawk insurance, the bank can use LIC's massive agent network to sell its retail loans. But if it is run the same way it had been in the past and LIC is a proxy of the government, then it has no future, says Tamal Bandyopadhyay.
Rama Newsprint & Papers allotted 5632129 shares to ICICI Bank Ltd .
In the first of a two-part series, Tamal Bandyopadhyay explains why the ICICI Bank's board first rushed to deny all allegations against Kochhar and then took the extreme steps against her.
Chanda Kochhar, managing director and chief executive officer of ICICI Bank Ltd, the second biggest lender, expects loans to grow 16 per cent in the year to March and sees lending rates rising during the year.
The loan is funded by a consortium of banks led by Australian and New Zealand Banking Group Ltd, BNP Paribas, Credit Agricole Corporate and Investment Bank, DBS Bank Ltd and Intesa Sanpaolo Spa, RCom said in a filing to the Bombay Stock Exchange.
Canara Bank Ltds Canbank Financial Services Ltd plans to discontinue non-banking finance company activities.
The Axis Bank share sale was launched on Thursday in an indicative price band of roughly Rs 1,290 to Rs 1,357 a share.
Mahindra Satyam had filed a lawsuit in a New York court against Upaid, seeking to make it solely responsible for any tax liability arising from an out-of-court settlement reached by them.
The court ruled that an interim debt order in favour of SBI and other banks seeking access to funds in the Mallya's ICICI UK bank account "should remain in force" but the application to make it final should be adjourned until after the hearing of his pending bankruptcy petition.
'One way of doing this could be offering credit guarantee to the banks, say 10 per cent, for fresh loans given to micro, small and medium enterprises,' observes Tamal Bandyopadhyay.
With the addition of the seven banks - South Indian Bank, Karur Vysya, State Bank of Hyderabad, State Bank of Bikaner, State Bank of Travancore, State Bank of Mysore, and Punjab and Sind Bank - the number of banks allowed to import the precious metals now stands at 30.
Eonour Technologies Ltds System Telecom and Data Services received a system integration contract from Federal Bank Ltd.
In a ruling in May, a UK high court judge had refused to overturn a worldwide order freezing Mallya's assets and upheld an Indian court's ruling that the consortium of 13 Indian banks were entitled to recover funds amounting to nearly 1.145 billion pounds.
'No one cares about fiscal deficit now. Or for that matter, inflation.' 'The focus is on growth and growth alone.' 'RBI needs to break the risk aversion of banks and infuse adrenaline in their veins', says Tamal Bandyopadhyay.
UTI Bank Ltd plans to issue shares on a preferential basis to certain investors to raise Tier 1 capital.
Centurion Bank Ltd said it hasnt taken any decision on the proposal received from Sabre Capital Worldwide Inc.
UTI Bank Ltd allotted 900 equity shares at Rs 38.63 to two employees under an employee stock option plan.
'As banks grapple with risk aversion and savers see an erosion in the value of money, the P2P platform can be a win-win for both borrowers and lenders,' notes Tamal Bandyopadhyay.
The bank expects its order-book to grow led by an average 20-25 per cent growth in these sectors, Mantri said. "Infrastructure and pharma are expected to grow by around 20-25 per cent in 2009-10. Besides, we see a 15-20 per cent overall business growth in the SME (small and medium enterprises) segment," he said on the sidelines of an SME Expo.
'In times of recovery, we may see a rural-urban divide with the urban pockets affected more by COVID-19, but the MFI business model should encourage banks to handhold them in this hour of crisis,' notes Tamal Bandyopadhyay.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
Government suspended trading in equity shares of Nedungadi Bank Ltd from February 5 in relation to the banks amalgamation with Punjab National Bank.
Mirza Tanners Ltd redeemed non-convertible debentures issued to Jammu & Kashmir Bank Ltd totaling Rs 100 million before maturity period to reduce costly funds.
'We do not know when we will get to the business-as-usual mode.' 'Many borrowers may not be able to pay up.' 'The incidence of cheque bouncing has doubled or even trebled, some lenders say,' says Tamal Bandyopadhyay.
'The new ceiling will cover around 93 per cent of all deposit accounts, up from 90 per cent earlier,' notes Tamal Bandyopadhyay.
Gaurav Garg, Head of Research, CapitalVia answers readers' stock market queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'When bankers are hounded by investigative agencies for credit decisions going wrong and defaulters are treated like outcasts, who will borrow money and who will lend?' asks Tamal Bandyopadhyay.
Jammu & Kashmir Bank Ltd said the Bank is intending to offer stake in its equity holdings to foreign partner. However, no formal steps have been initiated at Board level in this respect.
Growth impulses, while improving, remain fragile, and a rate hike will be disruptive to interest costs.
ICICI Bank Ltd has informed BSE that its board will consider the audited financial results for the third quarter ended December 31, 2002 at its forthcoming meeting to be held on January 31, 2003.
The rupee will be a key determinant for stock markets.
Tata Telecom Ltd said a Rs 200-million commercial paper, issued on November 22, has been repaid and fresh commercial paper for Rs 200 million has been issued, which was subscribed by Development Credit Bank Ltd.
Individual banks should break away from the industry pact and have their own settlements with the unions, recommends Tamal Bandyopadhyay.
'The no-rate cut policy and preference to wait for the Budget and clarity on the fiscal front demonstrate RBI Governor Shaktikanta Das is maturing in his new role,' notes Tamal Bandyopadhyay.
"There is an enormous amount of interest in investing in India," Mehra said at ICICI Bank's office in Dubai. "We could be doing at least another 10 deals over the next year".
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