'The ship has been stabilised.' 'For the last 6-7 quarters, profitability is stable around Rs 250-Rs 300 crore.'
Several malls and retailers downed shutters in the commercial capital city of Mumbai. Kishore Biyani's hypermarket chain Big Bazaar closed two stores its stores in Mumbai Central and Parel, which are half-an-hour's drive from South Mumbai.
Gagan Banga talks about how one of India's largest NBFCs still retains the financial discipline of a start-up.
Scores of employees took to social media to express disappointment and said they were asked to resign over WhatsApp calls. On Twitter, some said they had been asked to resign by May 31 and that there was no severance package and salary would be paid only for May.
Bankers have been criticised for not passing the benefits of rate cuts
Last month, the bank was placed under Prompt Corrective Action due to high level of bad loans, lack of sufficient capital to manage risks and negative return on assets for two consecutive years.
The prime minister's sop is expected to give a massive boost to priority-sector housing loans, thereby pulling the entire housing loan portfolio of banks.
An NBFC must actively manage its collateral positions, differentiating between encumbered and unencumbered assets, and monitor such assets so that they can be mobilised in a timely manner, central bank says in circular.
For those who find the online facility difficult, there is an electronic tutorial, and staff to assist you.
Some initial reactions to Prime Minister Narendra Modi's announcement of demonetisation of Rs 1,000 and Rs 500 notes with effect from midnight.
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