"This is the result of tighter fiscal discipline imposed by the fiscal responsibility framework ... and an optimistic revenue outlook driven by the buoyancy in revenue collections during the last three years of the 10th Plan," the 11th Plan document points out.
The divestment commission, which is currently in the process of firming up its recommendations on divestment of Power Finance Corporation, has sought borrower-specific details from the power lending agency.
A piece of slightly negative news can cause a serious setback, warns Debashis Basu.
India on Friday made a strong pitch for a sovereign rating upgrade with Moody's and also questioned the parameters based on which the US-based agency accords ratings, sources said on Friday. Ahead of its annual review of the sovereign rating, Moody's Investors Service representatives met Indian government officials during which the officials highlighted the reforms and strong fundamentals of the Indian economy. A higher rating for India would mean the nation is less riskier, translating into lower interest rates on borrowings.
The decision by the Reserve Bank of India to introduce a unified regulatory framework on connected lending for all the regulated entities (RE) is expected to reduce the influence of business conglomerates in the Indian lending space, said bankers and experts. "Connected lending pertains to lending to related parties within the same business group. "While the RBI might appear more agreeable to allowing business conglomerates to own banking licenses, it deems it crucial to bolster regulations that would prevent conglomerate-owned banks from gaming the system," said Shivaji Thapliyal, head of research and lead analyst, YES Securities.
The finance ministry has finalised the framework to issue sovereign green bonds in line with global standards, according to sources. The government intends to mobilise Rs 16,000 crore from the issuance of green bonds during the second half of the current financial year. It is a part of the borrowing programme for the second half of this fiscal. The framework is ready and it would be approved soon, the sources said.
From all indications, Sunil Kanugolu is here to stay, though whether his magic will help the Congress in the northern states in the Lok Sabha elections remains to be seen, wonders Aditi Phadnis.
A dialed-in Novak Djokovic disconnected Ben Shelton's dream US Open run in the semi-finals on Friday.
The government will borrow Rs 3.7 lakh crore from the market in the first half of 2012-13 through the sale of dated securities. This amounts to 65 per cent of the borrowing plan for the new financial year starting next month.
'Building a credit history is a gradual process that requires at least 6-12 months of consistent credit activity.'
Finance Minister Nirmala Sitharaman will be presenting her fifth Budget that may do a tightrope walk between staying fiscally prudent and meeting general public expectations of lower taxes and a wider social security net, while at the same time firing the engines of the economy.
The Damodaran committee appointed by the Reserve Bank of India (RBI) to revisit the issue of banks' customer services is likely to recommend capping on service charges to small borrowers or vulnerable sections of society.
Y M Deosthalee, chief finance officer and a member of Larsen & Toubro's board, said companies accessed the domestic market for capital requirements, which might cost them a little more.
Every banker loves the four-letter word Casa as it plays an important role in lowering the cost of deposits. Every bank wants to increase its Casa, as a higher portion of Casa in the overall deposit liability brings down its cost of money, points out Tamal Bandyopadhyay.
Rating agency Fitch on Tuesday downgraded the US government's top credit rating to AA+ from AAA, citing fiscal deterioration over the next three years and repeated debt ceiling negotiations. The development caused a flutter across equity markets, with most leading frontline global equity indices trading weak. Back home, the S&P BSE Sensex and the Nifty50 lost over 1 per cent each in intra-day deals to hit a low of 65,751.53 and 19,517.55 levels, respectively.
The second quarter results of banks show that net profits for the industry increased 57 per cent annually. The private sector banks recorded a 64 per cent rise in profits, whereas the net profits of public sector banks jumped 50 per cent in this period. A significant portion of this increase can be attributed to the rise in credit costs and a decline in non-performing assets (NPAs).
The 2024 Kia Sonet facelift impresses with its comprehensive upgrades, ranging from a refreshed exterior design to advanced safety and technological features.
'Lawyers don't know if a particular judge would like being addressed as 'Sir', and thus the colonial terms are 'safe' to use.'
India's inclusion in JP Morgan's bond index can channel billions of dollars into India. How will the government securities market handle it?
MUDRA bank will help microfinancing firms to lend more.
India has become the second biggest borrower in Asia Pacific by borrowing over $3.7 billion for project financing since the beginning of 2006, taking a big jump from its 10th position last year.
Actor-turned-designer Poornima Indrajith has some Onam style tips as well.
The Reserve Bank of India's (RBI's) latest order on unsecured loans is set to hit the banking sector's growth in the near-term, cautioned analysts, as they see banks slowing down on aggressive retail lending. Besides, cost of funds for non-banking finance companies (NBFC) is expected to inch up as banks will pass on higher capital charge to NBFCs. "We believe the fallout of the RBI action will be mainly on growth, given the rising dependence on unsecured retail loans and lending to NBFCs for growth.
The government has mopped up Rs 1,26,034 crore (Rs billion) till last week taking the gross market borrowing to over 88 per cent of the budgeted Rs 1,42,867 crore (Rs 1,428.67 billion) for the entire fiscal.
'To the believers of crypto regulations, I have only one question to ask, how will you regulate it?'
Road transport and highways minister Kamal Nath had said earlier this month after a meeting of an empowered group of ministers that the government wanted to borrow $2 billion.
Your awareness about the effect of the home loan tenure and EMI on your loan empowers you to take better decisions, explains Gaurav Mohta.
She has shown shrewdness, sensitivity, and courage. All of these will be needed in ample quantities for the real challenge that will emerge after the elections, notes Shreekant Sambrani.
The Reserve Bank has found gaps in banks' corporate governance despite issuing guidelines on the matter, Governor Shaktikanta Das said on Monday. Addressing directors of bank boards, Das said such gaps, which have been mitigated, could have caused "some degree of volatility". He also hit out strongly against "smart accounting" to conceal stress and bloat financial performance.
You and your spouse are co-borrowers on a home loan account. Your spouse, though, is not a co-owner. Can s/he claim tax benefits? Read on.
Savita Kanswal, 26, was posthumously awarded the highest adventure award at Rashtrapati Bhavan this month. She died heroically, as she had lived, doing what no woman had done before her.
Banks make use of credit scores based on your credit history and repayment record.
The ministry is of the opinion that there is a need for a rigorous regime for large unlisted companies, in contrast with the current "light-touch" regulation. "There is a defined regime for listed companies, by the Securities and Exchange Board of India (Sebi). "There is a view in the ministry that it needs to look at a framework for large unlisted companies," the senior official said.
Billionaire Gautam Adani-led group's renewable energy firm on Thursday announced plans to raise Rs 12,300 crore through a share sale to investors as the group continues to build on a comeback strategy to emerge out of allegations of fraud levelled by a US short-seller. Adani Green Energy Ltd in a stock exchange filing said its board has approved raising up to Rs 12,300 crore through an issue of equity shares by way of qualified institutional placement (QIP). The funds are intended to be used for meeting capital needs of the company's expansion plans.
Last year, the government had borrowed Rs 4.37 lakh crore.
After the Reserve Bank unveiled the third quarterly review of the monetary policy, several bankers said that they may not go in for rate cut immediately.
Quoting the company's Chief Financial Officer James M Follo, the report said real estate firm Cushman & Wakefield has been retained to act as its agent to secure financing, 'either in the form of a mortgage or a sale-leaseback arrangement'. The report said that the company's portion of the building is not currently mortgaged.
'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
If you opt for a term-life cover, buy separate policies to cover the loan for all the co-borrowers in a home loan for a sum assured equal to the home loan amount.
Borrowers should be careful if the app promises too-quick disbursal, and doesn't provide adequate information on the terms of the loan, such as interest rate, repayment schedule, etc.
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