If credit card delinquency spells trouble, there may be questions with regard to the much bigger retail sub-categories of car and housing loans, notes T N Ninan.
'Quality of management, corporate governance, allocation of capital, full disclosures should form the basis to decide investing in a particular stock.'
The tiny Central American nation of El Salvador has embarked on an interesting experiment by recognising bitcoin as legal tender. This is proving painful for many of its citizens but it's a useful "pilot" project for larger economies that are contemplating the peculiarities of this new asset class. El Salvador has a population of 6.5 million and GDP of about $27 billion.
Park is charged with one count of conspiracy to commit computer fraud and abuse and one count of conspiracy to commit wire fraud.
The post of chairman and managing director has been split and the government has appointed managing directors and chief executive officers in four banks -- Indian Overseas Bank, United Bank of India, Oriental Bank of Commerce and Vijaya Bank.
The Union home ministry has issued strict guidelines for the enforcement of the 21-day complete nationwide lockdown in the wake of the covid-19 pandemic, invoking the National Disaster Management Act which may result in imprisonment of up to two years for any violation. All government offices, the offices of state and Union territory governments, autonomous institutions, public corporations, commercial, private, industrial establishments shall remain closed, the guidelines issued by the ministry said.
The company contented before the tribunal that the amount was paid outside India.
Institutions will wait till there is more clarity on Budget.
Abheek Barua & Bidisha Ganguly explain why the US treasury should intervene if the overvalued greenback continues to rise.
'I urged the chief minister even before she took her oath requesting her to send a tough message to the police and the administration that any violent activity, any destruction of property, any arson, loot in your area, they will be held accountable.' 'Her silence on this speaks volumes.'
Fadnavis's comments in the Maharashtra Assembly led to an uproar in the House, with the Shiv Sena raising the issue of alleged suicide of Dadra and Nagar Haveli Lok Sabha member Mohan Delkar.
The United States government has added a top Taliban commander in Afghanistan to its list of drug trafficking "kingpins", in the first such designation to a senior leader of the outfit.
'You should always maintain an allocation to gold as it has the ability to counterbalance any correction in the equity market.'
The government is open to discussions on all issues, the prime minister told journalists in Parliament complex ahead of the beginning of the session.
The government planned to borrow 10-15 per cent of the total borrowing offshore. That works out to at least Rs 71,000 crore, or about $10.4 billion at Friday's exchange rate.
There will be no Question Hour and private members' bills will not be taken up in the Monsoon session, while the Zero Hour will be restricted.
The state government as an interim measure would raise Rs 3,000 crore (Rs 30 billion) from market borrowings and Rs 500 crore (Rs 5 billion) as loan from small savings, Mitra told reporters at the state secretariat.
Pakistani security agencies on Thursday arrested two suspects involved in the car bomb blast outside the house of the 2008 Mumbai terror attack mastermind and chief of the banned Jamat-ud-Dawah (JuD) Hafiz Saeed, an official said.
'All that Mr Modi needed to do was to call Urjit Patel over for a cup of tea and ask him nicely, and this fuss would never have happened.'
Chief Economic Adviser K V Subramanian on Monday said India is likely to post current account surplus in the current financial year as there is moderation in import due to under heating of the economy triggered by the COVID-19 crisis. This crisis is different from what the world witnessed during the taper tantrum, he said while addressing a virtual conference organised by industry body CII. Taper tantrum phenomenon refers to the 2013 collective reactionary response that triggered a spike in US treasury yields, after investors learned that the US Fed was slowly putting brakes on its quantitative easing (QE) program.
The sudden movement of the rupee - post the monetary policy - is not a reason to panic, said currency dealers. According to them, a correction was overdue for the rupee that remained the best performing currency in the region for well over a month. The rupee closed at 74.72 a dollar on Friday from its previous close of 74.60. It had dropped 1.52 per cent against the dollar on April 7 after the Reserve Bank of India (RBI) announced its monetary policy, committing to buy Rs 1 trillion of bonds in the June quarter. A weak rupee goes well with the export narrative of the government, and is consistent with the RBI's intervention strategy that prevented an appreciation.
Strict lockdown-like restrictions are already in place in the southern stateand the Pinarayi Vijayan government decided to clamp the complete shutdown in the wake of severe spike in the positive cases.
Is the worst over for Indian banks? The past two years saw them ride on treasury trades as deposits soared and credit growth dipped sharply. Gross and net non-performing assets (NPAs) moved south, and the provision coverage ratio (PCR), capital buffers, and profitability indicators are back at pre-pandemic levels. So, what's the plot ahead?
'In most schemes, where the monthly investment is a fixed amount, investors run the risk of the price of gold rising during the tenure of the recurring deposit,' notes Harsh Roongta.
The Mumbai-born gangster's nationality is listed as "Indian", with a recorded Indian passport which was subsequently revoked by the government of India and then goes on to list a string of Indian and Pakistani passports acquired by him and misused.
More than 10 speakers made their case during the no-confidence vote, the first faced by the Narendra Modi government. Here's a selection of the best speeches.
High inflation print is the price that the Reserve Bank of India (RBI) will have to pay to nurse a fragile growth back, say economists. Wholesale Price Index-based inflation rose to a record high of 12.94 per cent in May, aided by low base effect, but also because of higher fuel and commodity prices. Retail inflation, too, surprised by rising to 6.30 per cent, while the core inflation, which is the non-food and non-fuel component, rose to an 83-month high of 6.55 per cent. These numbers are much above RBI's upper limit of 6 per cent inflation target, but there is very little that the RBI can do at this moment.
'When bankers are hounded by investigative agencies for credit decisions going wrong and defaulters are treated like outcasts, who will borrow money and who will lend?' asks Tamal Bandyopadhyay.
The numbers, however, appear to be in favour of the ruling dispensation to get these bills passed from Rajya Sabha, while the lower house has already cleared them despite a key NDA member Shiromani Akali Dal vehemently opposing them.
With the Rs 1.45 lakh crore tax dole threatening to upset budgeted numbers, Economic Affairs Secretary Atanu Chakraborty sought to allay concerns saying the government is sticking to the glide path of keeping fiscal deficit at 3.3 per cent of the GDP in the current fiscal.
The finance ministry on Wednesday said the government will borrow Rs 4.34 lakh crore in the second half of the current fiscal to meet its expenditure requirement amid COVID-19 crisis afflicting the country's economy.
Xi Jinping is winning the war without firing a shot in Sri Lanka, observes Colonel R Hariharan (retd).
The final guidelines to link the interest rate to external benchmarks will be issued by the end of this month
Parliament has approved a gross borrowing for Rs 7.1 lakh crore for the entire 2019-20 fiscal.
The relaxation came amid indications that the number of new COVID-19 cases in Mumbai is more or less stabilising since the last few days.
Top gainers in the Sensex pack included Infosys, Bajaj Finance, Maruti, HUL, HCL Tech and Reliance Industries, while M&M, IndusInd Bank, ITC, PowerGrid and L&T were among the losers. The NSE Nifty settled 190.80 points, or 2.51 per cent, down at 7,801.05.
'There is a misconception that gold is a dead asset in India.' 'Around 30 per cent of agriculture loans are collateralised by gold, Soumya Kanti Ghosh and Saket Hishikar, economists at the SBI, point out.
In the 2015 bypoll in the same RK Nagar seat, she had declared total assets of Rs 117.13 crore.
The $14.29 trillion borrowing limit underscores the need for Congress to put in place a fiscal straitjacket like the CAP Act.
The United States has labelled a Pakistan-based money changer as a "global terrorist" for providing financial services to the banned Lashkar-e-Tayiba terror group that has been involved in a series of terrorist attacks in India, including the 2008 Mumbai attacks that left 166 people dead.
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