Washington-based International Finance Corporation is likely to invest in more private banks in India, including Kotak Mahindra Bank, although it has cut exposure in Centurion Bank and Global Trust Bank.
IFFCO is reaching out to the young Indian urban professional.
The prime minister, who is visiting the US at the invitation of President Biden and First Lady Jill Biden, will join them for the state banquet along with a number of dignitaries on Thursday.
Vice President Jagdeep Dhankhar on Thursday said "dangers are emanating from outfits", including some foreign universities, doubling up as centres of subversive anti-India activities out to demolish the country's civilisation ethos and sully and muddy its growth.
He last visited India in November 2019 and also celebrated his 71st birthday with schoolchildren in Mumbai and earlier this week he told British Indian peer Lord Karan Bilimoria at a pre-Coronation reception that he looks forward to making a State Visit to India soon.
Indian start-ups breathed a sigh of relief after the UK government facilitated the acquisition of the now-defunct Silicon Valley Bank's (SVB's) British arm by HSBC. In a bid to allay fears, the US Federal Deposit Insurance Corporation (FIDC) announced recently that it had transferred all deposits of start-up-focused SVB to a newly created bridge bank and all depositors would have access to their money. President Joe Biden also sought to reassure jittery depositors that they can have confidence that the US banking system is "safe".
After consolidating its foothold in south India through the acquisition of Global Trust Bank, Delhi-based Oriental Bank of Commerce.
Oriental Bank of Commerce, which acquired Global Trust Bank last year, has filed 30 first information reports against GTB defaulters to recover Rs 1,300 crore (Rs 13 billion) of bad loans.
The withdrawal limit from the Global Trust Bank is likely to be enhanced soon, Union Finance Minister P Chidambaram said on Wednesday.
Chinese telecom gear giant Huawei Technologies has sought permission for access to the government's 'Trusted Telecom Portal' which went live on June 15 so that it can share details about the telecom products which telecom service providers have agreed to buy from it. The move is significant as sources close to the development say that, according to Chinese telecom companies' interpretation, the new National Security Directive on the telecom sector does not in any way prohibit them from participating in the process of selling telecom equipment of any kind to private telcos. The firm is waiting for a response from the government. It declined to comment.
Market regulator Sebi on Monday assured the investors not to panic over the crisis in the Global Trust Bank with its Chairman G N Bajpai saying that there was no problem of settlement and stock market will function "normally".
The Union government has issued a three-month moratorium on Hyderabad-based Global Trust Bank, effective close of business on Saturday in the interest of public and depositors.
A group of lenders to educational technology (edtech) giant Byju's has told the firm that they're open to negotiations with the company to resolve litigation and other disputes, according to people familiar with the matter. However, they have told Byju's that they will not engage in the firm's proposal for one-on-one meetings, according to sources. Byju's recently filed a suit against US-based investment management firm Redwood to challenge the acceleration of the $1.2-billion Term Loan B (TLB) facility, and disqualify the lender for its "predatory tactics".
India Inc is not in the dark about moonlighting employees. According to a forensic accountant, companies can easily turn to experts and deploy digital tools that can be used to check if an employee is doing a second job or not - reaffirming fears of many who are wary of the practice in the context of the recent sacking of moonlighters by IT major Wipro. Arpinder Singh, global markets and India leader, forensic and integrity services, EY, said that EY had been involved with several companies to gauge moonlighting.
The mixed narratives emerging from Russia undermine Mr Putin's position and authority even more than the actual facts, observes Mihir S Sharma.
Securities and Exchange Board of India, on Tuesday, debarred promoters of Global Trust Bank Ramesh Gelli and associates, and Ketan Parekh entities from dealing in GTB scrip in any manner.
Clock 11% growth in the first 11 months of 2022.
The government will soon come up with detailed guidelines for private banks including hike in the foreign holding from 49 to 74 per cent and allowing foreign banks to set up subsidiaries in the country.
Even as our tier-2 and tier-3 cities become increasingly well-mapped, and well-documented through myriad tech-driven data, the Indian film-maker's dominantly urban gaze turns to regions not crowded by data, area codes, or directions, observes Debarghya Sanyal.
Oriental Bank of Commerce is set to carry out a major manpower restructuring especially at the acquired Global Trust Bank unit, after it gets a report from National Institute of Bank Management.
The Securities and Exchange Board of India has found no insider trading in the shares of erstwhile Global Trust Bank before its merger with Oriental Bank of Commerce.
The government on Wednesday rejected in the Lok Sabha the demand for setting up of a joint parliamentary committee into the collapse of Global Trust Bank
With the merger of erstwhile Global Trust Bank starting to yield rich dividends, Oriental Bank of Commerce aims to grow its business to Rs 90,000 crore (Rs 900 billion) this fiscal and trim non-performing assets to 0.5 per cent. \n
Modi said that in the last four years the government has worked for creating a New India by 2022.
Ramesh Gelli, then 37, was the youngest chairman in Indian banking industry when he headed Vysya Bank in 1983. Now 58, he plans to retire from banking for ever.
