'Those who should have been affected benefitted from demonetisation.' 'And the vast majority who should not have been affected lost out.' 'That is the ultimate result of demonetisation.'
For now, the concerns over bad loans have taken a back seat; a bigger challenge for the banking community is credit growth, explains Tamal Bandyopadhyay.
With the Budget barely a week away, the Prime Minister's Economic Advisory Council on Monday made a case for withdrawing some of the tax incentives to the industry to put the economy back on track for fiscal consolidation.
The top four Indian IT firms have cash reserves of nearly $15 billion with TCS alone holding $5.9 billion in reserves, followed by Infosys with $3.6 billion, and Wipro with $3.4 billion. HCL Technologies has cash reserves of $1.75 billion.
Casual labour, which is the type of employment provided by agriculture, yields much lower wages -- of the order of Rs 291 per day. Labour would not voluntarily shift to this lowest wage-rate sector unless it had no better option, observes Mahesh Vyas.
Today, bookMyShow is India's premiere online ticketing site, having sold movie tickets worth Rs 6.21 crore (Rs 62.1 million) for Avatar and Rs 9 crore (Rs 90 million) for 3 idiots early this year.
Corporate indebtedness is now twice what it was before the global financial crisis; banks' bad loans ratio is 3.5 times higher.
Senior executives and auditing firm Ernst & Young have been criticised, among many others, for the failure of Lehman Brothers, by an official report that delved deep into the collapse of once-famed Wall Street major.
India was, relatively, less affected, as the central bank here did not allow the banks to speculate with people's money on the market.
Despite global financial crisis, trade volume between India and Egypt stood at $3 billion in the last fiscal, Indian Ambassador to Egypt R Swaminatan has said.
The global financial crisis has empowered fiscal conservatives in India.
The gist of the reactions from various quarters to the Reserve Bank of India's (RBI's) discussion paper on entry criteria for new banks in the private sector, as published by RBI, shows that most would like RBI to ensure utmost transparency and discretion in the next stage of growth of Indian banking.
Recovering from the impact of global financial crisis in the second half of 2009-10, Indian industry unleashed pent-up investments in the economy.
With exorbitant executive payouts attracting severe criticism in the wake of the global financial crisis, most banks have reworked their compensation structures, especially cutting down bonuses, a survey by HR consultancy Mercer says.
The global financial crisis that started in the later part of 2008 following the collapse of the Wall Street investment bank Lehman Brothers may be over but the cleaning up process is still on, said Chairman of Federal Deposit Insurance Corporation Sheila Bair on Tuesday.
Rating agency Standard & Poor's is using the experience of working with the Indian rating agency, Crisil, a subsidiary of S&P, to its advantage. Deven Sharma, president, Standard & Poor's, spoke to Rajesh Bhayani
The intensification of global financial crisis in the second half of 2008 had forced Indian companies to put on hold their global plans. When going was good till early 2008, Indian banks -- both public and private sector -- played their part, albeit as junior partners to large international banks, in funding deals.
US President Barack Obama has claimed victory as the Senate voted to end debate on a massive Wall Street overhaul package, which is said to be the most sweeping reform of the country's financial regulatory system since the Great Depression.
American International Group Inc has repaid another $6.9 billion to the US government, using proceeds from the sale of the insurance firm's stake in MetLife.
The bank's governor, Sultan Nasser al-Suweidi, said he did not see "any reason for concern because UAE banks have increased their capitals, (and) as commercial banks have proven their ability to face the consequences of the world financial crisis."
India's exports, which saw the steepest fall of 39.2 per cent in May at the height of the global financial crisis, stands arrested at 6.6 per cent in October, and the government said it would provide more support to select segments in December.
Economic Survey says Indian carriers operate in an exceptionally high-cost environment.
The civil aviation industry, which was hit hard by the global financial meltdown and high fuel cost, saw a strong recovery in 2010 with the domestic passenger traffic rising 19 per cent to 51.53 million, the Economic Survey said on Friday.
he Securities and Exchange Board of India asked credit rating agencies to disclose the fees they charge companies for assessing their debt profile and the default rate on their previous ratings.
"Despite the global financial crisis, newspaper circulation grew 1.3 per cent worldwide in 2008," WAN president Gavin O'Reilly said here, while contradicting the 'misleading reports predicting the imminent death of newspapers'. Elaborating on the current state of the newspaper industry, the WAN President said that 1.9 billion people read a paid daily newspaper every day and newspapers reach 41 per cent more adults than the world wide web.
"India's resilience (during the global financial crisis) has been recognised internationally. In my view, India may be beginning to see a multi-decade bull market," Jhunjhunwala said at a seminar organised by the Indian Institute of Foreign Trade in Mumbai.
The WEF will be celebrating 25 years of its engagement with India at the annual economic summit.
Institutional desks of many brokerages in India are in the process of selling about Rs 2,000 crore worth of equity holding of bankrupt US investment bank Lehman Brothers Inc in some Indian companies.
'Over the next two quarters, markets will be guided by observing the earnings resilience of corporates during the second lockdown, progress of the monsoon and the damage, if any, to rural spending power due to the second wave.'
Lehman Brothers, whose collapse worsened the global financial crisis in late 2008, slumped into bankruptcy as the entity failed to get the necessary support from the US authorities, former chief Richard S Fuld has said.
Addressing the industry's concerns that banks were not lending to the MSME sector, he said credit flow to MSMEs had doubled from Rs 1,27,000 crore (Rs 1,270 billion) in 2006-07 to Rs 2,57,000 crore (Rs 2,570 billion) in 2008-09. In 2007-08, credit flow to the sector was Rs 2,13,000 crore (Rs 2,130 billion).
With signs of economic revival becoming more pronounced, the government has relaxed the austerity drive undertaken last year and from April 1, government employees will be allowed to fly first class.
The first thing the new government has to do is to spell out its plan to deal with the mounting fiscal deficit.
Tobin Tax has immense potential when used along with complementary policies such as counter-cyclical and macro-prudential measures.
Exorbitant executive pay packets have come under fire from different quarters internationally, with many even blaming the practice for the ongoing financial turmoil.
Foreign direct investment in India may erode sharply from the record $42 billion in 2008 with trans-national corporations going slow on expansion plans following the global financial meltdown, says an UNCTAD report.
India's gross domestic product product (GDP) growth rate between 2011-12 and 2016-17 should be about 4.5 per cent instead of the official estimate of close to 7 per cent, he said in a research paper published at Harvard University. "The Indian policy automobile has been navigated with a faulty, possibly broken, speedometer," he says in the paper.
With global financial crisis forcing the banks to tighten interest rates, fixed deposits have somewhat reclaimed its past glory. Once again, people have started opting for bank term deposits as one of the safest investment scheme.
Reliance Industries on Wednesday said good oil and gas properties are likely to be available for acquisition globally in six months, providing Indian firms -- with deep pockets -- excellent opportunity to consolidate their portfolio.
China's new confidence 'borders on arrogance' which is starting to create problems for world affairs, Kenneth G Lieberthal, director, John L Thornton China Center and Senior Fellow at the Brookings Institution said in New Delhi.
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