Indian banks, which are increasingly getting worried due to asset-liability mismatch, have sought the government's approval to float tax-free bonds.
Bankers on Tuesday ruled out any immediate reduction in lending rates, saying any step in that direction will be determined by the cost of funds.
There's a long way to go before human beings are replaced by machines -- in banks at least.
Pratham Barot, CEO and co-founder, Zell Education, explains how specialised courses in finance can help you earn a cushy six-figure salary.
AIBOC in a letter to the Prime Minister, has said the government should not expect the banking fraternity to "join the political campaign of #MainBhiChowkidar" unless issues related to merger of banks, salary revision and staff recruitment, among others, are addressed.
Tata Consultancy Services has won the 'The Banker Technology Award 2003', co sponsored by the UK-based Financial Times Group and the Banker Magazine's, in the stock exchange category
'As a child, I didn't even know that he was an IPS officer... It was much later when I came back to India'
The Adani group is in advanced talks with top sovereign funds based in West Asia to raise up to $2.6 billion for its airport expansion and green hydrogen projects. The group, which expects to close the ongoing financial year ending March with Rs 80,000 crore of Ebitda (earnings before interest, tax, depreciation, and amortisation), has held a series of road shows in London, Dubai, and Singapore with potential investors, briefing them about their future growth plans. The group's flagship, Adani Enterprises, may dilute part of its stake in the airport-holding firm and/or the green hydrogen business to these funds, which are keen to invest in the Indian infrastructure sector, said a source close to the development.
Asia's richest man Mukesh Ambani drew nil salary from his oil-to-telecom-and-retail conglomerate Reliance Industries for the fourth straight year in a row while his children earned a sitting fee and a commission for being on the board of India's most valuable company. Ambani, 67, had capped his annual remuneration at Rs 15 crore from financial year 2008-09 (April 2008 to March 2009) to 2019-20 (FY20); and since FY21, he opted to forego his salary, due to COVID-19 pandemic, until the company and all its businesses were fully back to their earnings potential.
'My trajectory right now is five steps forward, two steps backwards.'
Question remains, what happens when the overseeing committees' members themselves are questioned by investigative agencies?
Bankers were optimistic about the Reserve Bank's annual credit policy, which left all key rates unchanged, but feared that there could be tightening measures in the near future if it had to contain inflation around five per cent.
Trailblazing careers apart, today's hottest investment bankers have a lot in common. They are below 40, represent big finance and have been either colleagues or classmates.
A post in Humans of Bombay's Facebook page from a manager of a bank will give you an insight of what the bankers are going through and will urge you to cooperate with them.
Let's take a look at the best and worst central bankers.
Mining conglomerate Vedanta Limited has received approvals from the majority of its creditors for a proposed demerger of businesses, marking an important step in the company's plan to split into six independent listed companies. "I am happy to let all of you know that we have received the 52 per cent plus the additional percentage, which is required for us to reach 75 per cent. "We have crossed that threshold as well. Most of the lenders have approved it," a senior Vedanta executive said in a recent bondholder conference call.
The chaos and fear created by the deadly protests remained. Gangs of criminals have been looting and robbing homes in the absence of law enforcers over the last two days.
Why is the RBI harsh on Paytm Payments Bank? Why did it give Rana Kapoor of Yes Bank Ltd such a long rope?Often, it's a long investigation process, but the RBI doesn't discuss this openly since that can threaten financial sector stability, explains Tamal Bandyopadhyay.
Moitra's electoral triumph not only secures her seat in Parliament, but also serves as a defiant retort to attempts to sideline her from the political arena.
The message to bankers from Raghuram Rajan was clear.
Nine of 10 bankers who attended the meeting admitted their sanctioned loan pipeline was shrinking fast due to tepid demand.
With credit demand picking up and liquidity crunch yet to ease, bankers are expecting a cut in key policy ratio - Cash Reserve Ratio (CRR) - by one per cent in the mid-term monetary policy review by RBI, a top bank official said.
Bankers, who spoke to PTI, point to the above indicators and aver the Reserve Bank of India is unlikely to hike reverse repo and repo rates this month.
The share of foreign loans in total Adani group debt portfolio dropped to 61 per cent by September 2023 from 63 per cent as of March 2023, as the group repaid part of its foreign loans and refinanced part of older loans. The share of Indian lenders, on the other hand, rose to 39 per cent in the total debt pie in September 2023 from 37 per cent in March after a report by US-based short seller Hindenburg Research in January last year, which led to volatility in the share prices of group companies. The group's total debt remained static at Rs 2.26 trillion in the same period.
The government on Wednesday decided to speed up the process for appointment of merchant bankers for its Rs 400 billion (Rs 40,000 crore) divestment plan.
CEOs of leading banks say third straight rate hike by RBI inevitable, though not desirable.
India's leading steel companies hope the Modi 3.0 Budget will continue the massive capital expenditure currently underway, focusing on infrastructure development, manufacturing, and fair trade. The infrastructure segment is the largest steel user, and the government's focus has fuelled steel consumption even as international markets have underperformed. According to provisional statistics, steel consumption grew 13.6 per cent in FY24, reaching 136 million tonnes (mt), according to a CRISIL report.
Bankers said the outlook of M&As in India in 2024, especially in the second half after the Lok Sabha election, seems relatively better.
The revival in Mumbai's property market could help the group.
'It's a debatable topic, and we will submit our comments to the RBI by June 15.'
Investment bankers have dismissed the capital market regulator Sebi's concerns over near-zero fee for managing public sector issues.
A cut in the CRR will help banks release their funds stuck with the RBI on which they do not get any interest from the regulator.
The message is clear: The 60-year-old wise uncles need to handhold the 40-year-old entrepreneurs when, obsessed with ambition and greed for growth, they become a victim of hubris, points out Tamal Bandyopadhyay.
Finance Minister P Chidambaram is slated to meet bankers on November 18, to review performance of PSU banks and discuss ways of augmenting their capital by Rs 60,000 crore (Rs 600 billion) in the next 5-6 years.
