The strike call is over privatisation, mergers, and also due to write-off of corporate NPAs, criminalisation of willful default
The provisions in the FRDI bill do not modify current protections for depositors adversely at all, the ministry held, maintaining that these rather provide additional protections in a more transparent manner.
The actual expenditure will only be marginally higher and hence, the multiplier effect will be muted.
Mired in corruption, politics and with a history of suicides by its hapless depositors, PMC Bank's revival is a challenge very different from Yes Bank and LVB, both for the regulator and the rescuer, observes Tamal Bandyopadhyay.
Gopalakrishna's name was in the reckoning for Deputy Governor in place of Anand Sinha who retired in January.
Why do we need a cure here for peculiarly Western diseases when we don't have those diseases, and which the West itself is not trying to cure, asks Debashis Basu.
Do not go for riskier options like co-operative bank only for the higher return. Even if you go for them, park only a small portion of your capital there, say Tinesh Bhasin and Sanjay Kumar Singh.
The 21st meeting of FSDC comes against the backdrop of the economy hitting a six-year low growth rate of 5 per cent in the first quarter of 2019-20. Even some of the macroeconomic data for the second quarter does not portray an encouraging picture of the economy.
KYC done while opening a bank account can be used to open a mutual fund account.
Moody's said the government will face challenges in achieving its deficit target for the fiscal year ending March 2021, amid persistent structural and cyclical headwinds to growth.
'No commercial bank will be allowed to fail. There is nothing to worry about.'
The regulatory actions, undertaken by the RBI and the government, came hours after finance ministry sources confirmed that SBI was directed to bail out the troubled lender. For the next month, Yes Bank will led by the RBI-appointed administrator Prashant Kumar, an ex-chief financial officer of SBI.
'The Insolvency and Bankruptcy Code is neither beneficial to banks nor helpful for the borrower.' 'Genuine people who are caught in economic stagnation will lose everything and thousands will lose jobs.'
Facing black money investigations in India and several other countries, global banking giant HSBC on Monday said it is also being probed in the US for hiring candidates related to government officials in Asia Pacific.
The Monsoon Session of the Lok Sabha was adjourned sine die on Friday after 19 sittings that saw the passage of 14 legislation while Rajya Sabha came to an end after passing nine bills.
Currently the currency in stock is about Rs 2 lakh crore and the reserves are adequate to meet any unusual spurt in demand
'Without appropriate supervisory constraints in place, banks are in a position to delay the recognition of losses and engage in ever-greening or zombie lending, which is essentially the rolling over of debts of unviable borrowers that would have otherwise defaulted,' points out RBI Deputy Governor Viral Acharya.
Upcoming payment banks will lift lower income groups in distant villages.
Tamal Bandyopadhyay, columnist and author of several books like From Lehman to Demonetisation: A Decade of Disruptions and Sahara: The Untold Story, tells Rediff.com why Yes Bank depositors should not panic and the current crisis at India's fifth largest private lender does not pose any systemic risk.
India has a unique window of opportunity to effectuate long-lasting structural change in its banking sector, says Riju Agrawal.
'We have promised to ensure reduced tax rates.'
With a sole mandate of inflation targeting, RBI wears many hats.
The US House of Representatives averted a government shutdown on Thursday, narrowly passing a $1.1 trillion spending bill despite strenuous Democratic objections to controversial financial provisions.
This is the first time that no-confidence motion notices have been moved against the Modi government in 4 years.
Even today, many MFIs already distribute pension and micro insurance products to low-income households.
In refusing to accept its failure, the government has sowed the seeds of further damage: by keeping India short of cash; reducing the headroom for responses to seasonal spikes in cash demand; and increasing the chances that groups will panic at temporary cash shortages, says Mihir Sharma.
Consumers will thank the Modi government for this simple yet revolutionary move, which is long overdue, says Debashis Basu.
South leads; North-East at bottom but moves ahead, finds out the IndiaSpend Team
Overhauling India's bloated and often sluggish state banks is critical for the government
Private banks are assumed to be more efficient at intermediating between depositors and investors.
Priya Nair finds out how investors of mutual funds, shares, unclaimed bank deposits, insurance policies can redeem long-forgotten investments.
India will welcome two trade missions in 2015 focused on meeting its infrastructure needs with US technology and services.
'The RBI is not releasing Rs 2,000 notes for the last 10 days; probably they have stopped printing it.'
In advanced economies where the financial system is more matured, the form of shadow banking is more of risk transformation through securitisation.
'We feel there is definitely something murky in the system.' 'Will anyone believe that Nirav Modi will go to a branch and bribe a low-level officer?' 'Just look at the people with whom he had moved around.'
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Cumulatively for the first two quarters till now, the advance tax collections from the Mumbai zone, which contributes over a third of the income tax collections nationally, have grown 11 per cent, the official said.
The prime minister and president stated their intention to expand defence co-operation to bolster national, regional and global security.
Banks get bonds boost to raise funds for core sector; up to Rs 50 lakh of home loans in metros and Rs 40 lakh in other cities not to have CRR, SLR requirements
If you are not already lost in the zeros this wealth stands at Rs 257 lakh crore or Rs 257 trillion, according to a report unveiled by Karvy Private Wealth for the year 2014.
FM needs to convince Indians to invest more in stocks.
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