Banks tighten hold on Mallya for defaults on KFA loans
Fix India's real estate sector. Fix India's public sector banks, advises Tamal Bandyopadhyay.
Judge Andrew Henshaw refused to overturn a worldwide order freezing Mallya's assets and upheld an Indian court's ruling that a consortium of 13 Indian banks were entitled to recover funds amounting to nearly $1.55 billion.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
'Clearly, the depositors of cooperative banks need the maximum protection.'
Banks are pushing into credit cards and personal loans, using blanket advertising, cold call campaigns and even sending employees to malls to lure customers.
Standard Chartered Plc on Tuesday reached an agreement to acquire US-based American Express Bank Ltd for about 431 million pounds ($860 million) in cash
Why doesn't anybody ask the PSU State Bank of India under RTI on how much they are spending on legal fees trying to recover money from me in the UK when I have offered 100 per cent payback in India, asked Mallya.
As part of its expansion plan to strengthen its base in North Maharashtra, Saraswat Co-operative Bank Ltd (SCBL), the largest multi-state co-operative bank in the country with a business turnover of Rs 17,000 crore, has acquired the financially troubled city-based Nashik People's Co-operative Bank (NPCB) with 14 branches.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
Federal Bank Ltd has posted a net profit of Rs 311.20 million for the quarter ended December 31, as compared to Rs 219.30 million in the quarter ended December 31, 2001.
The government of India has nominated Vinod Rai as the government nominee on the board of ICICI bank in place of Vineeta Rai with effect from January 3, 2003.\n\n
ICICI Bank fixed May 19 as the record date for ascertaining the eligible shareholders of Sangli Bank, which was merged with the country's largest private sector lender in April.
ICICI Bank Ltd, India's biggest private sector lender, posted its slowest quarterly growth in four years as asset quality worsened and funds set aside for bad loans and contingencies almost doubled from a year earlier.
ICICI Bank Ltd has posted a net profit of Rs 3303 million for the quarter ended December 31, 2002 as compared to Rs 700.20 million in the quarter ended December 31, 2001.
Dhanalakshmi Bank Ltd has posted a net profit of Rs 44.50 million for the quarter ended December 31, 2002 as compared to Rs 32.70 million in the quarter ended December 31, 2001.
Mallya is separately fighting extradition to India on fraud and money laundering charges worth an estimated Rs 9,000 crore
The company will transfer its wallet business, which has over 218 million mobile wallet users, to the newly incorporated entity -- PPBL -- under the payments bank licence awarded to Vijay Shekhar Sharma, the founder of One97 Communications that owns Paytm.
ICICI Bank UK Ltd, a wholly owned subsidiary of ICICI Bank Ltd, India's second largest Bank, has enhanced its presence in the United Kingdom by inaugurating branches in Manchester and Southall on Thursday.
The bank is also mulling a mega Tier 2 bond issue in June-July 2006 to support credit growth.
Probably in August. We can argue whether RBI is dovishly neutral or neutrally dovish but the telltale signs of at least one more rate cut are strewn all over the policy statement, points out Tamal Bandyopadhyay.
B Chandramouli and P Kumar were on Monday appointed the chief operating officer and head of business services, respectively, at YES Bank Ltd.
Jammu & Kashmir Bank Ltd has posted a net profit of Rs 891.80 million for the quarter ended December 31, 2002 (DQ-02) as compared to Rs 663.20 million in the quarter ended Dec 31, 2001(DQ-01).
The country's second largest lender ICICI Bank Ltd on Thursday said it would raise upto Rs 5,750 crore (Rs 57.5 billion) through public offer of equity shares.\n
Diageo, which had acquired Mallya's United Spirits nearly six years ago, is claiming $40 million paid to the liquor tycoon as part of an alleged breach of agreement.
ICICI Bank Ltd on Wednesday opened its first overseas offshore branch in Singapore.
ICICI Bank Ltd has acquired 3.6 crore shares, aggregating 12.65 per cent of Himachal Futuristic Communications Ltd, due to a default in loan payment by the latter.
As part of its vision to become a multinational corporation, State Bank of India is now scouting for more banks in South Asia and Africa while steadily consolidating its seven associate banks.
Despite constraints, if the new government is able to iron out such drags, the outlook for the rupee will be more positive in the near future.
The Cabinet has approved the amalgamation of privately-owned cash-strapped Nedungadi Bank with leading state-run Punjab National Bank, a government spokesman said
Global business process management solutions provider Staffware Plc launched its Indian operations on Thursday and received a BPM contract from HDFC Bank Ltd.
Achieving inflation target of 4 per cent, recovery after remonetisation and hardening profile of oil prices are some of the risks which the RBI is watching closely, says Gaurav Kapur.
Mumbai-based Maratha Mandir Co-operative Bank Ltd witnessed panic withdrawals of up to Rs 10-12 crore (Rs 100-120 million) by depositors in three branches.
City-based the South Indian Co-operative Bank Ltd saw a run on its deposits on fears of the bank being saddled with huge non-performing assets.
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