'On the evening of the 17th, the RBI said the bank was put on moratorium.' 'Within an hour, the RBI said it would be merged with DBS.' 'How did DBS come to know within an hour that LVB was in trouble?' 'It means, what happened was match-fixing.'
The bosses of SBI, Union Bank and Central Bank have been driving down to their offices everyday to take stock of the biggest loan drive ever undertaken for MSMEs, discovers Tamal Bandyopadhyay.
Beginning in 1990, Japan suffered a collapse in real estate and stock market prices that pushed major banks into insolvency
The Modiquake has devastatingly hit all Opposition, says Nazarwala.
The Economic Survey prescribed on Thursday a new bankruptcy law for ensuring speedy disposal of insolvency petitions. Tabled in parliament, the survey called for a new bankruptcy law to 'ensure speedy and effective bankruptcy so as to save/preserve assets for alternative use.'
RBI deputy governor N S Vishwanathan has said the new framework was in line with the Insolvency and Bankruptcy Code guidelines.
The domestic deal-making activities were hit by weak corporate governance and a huge liquidity crunch in 2019, while the global deals were also hard to come by due to various factors including uncertainties caused by the US-China trade war, which left many investors in a wait-and-watch mode.
The company faced severe demand contraction in its principal market segments due to the global financial crisis. Trevira manufactures high-value branded polyester fibers and filament yarns for the automotive industries, home textiles as well as for technical applications.
'No commercial bank will be allowed to fail. There is nothing to worry about.'
'Should the government be in the business of running banks?' 'Particularly when it does not have the fiscal strength to continuously infuse capital into such banks?'
In a pre-Budget meeting with Finance Minister Nirmala Sitharaman, the corporate leaders highlighted several issues, including certain income tax matters which were coming in the way of mergers and acquisitions or slowing them down and roles that need to be played by state businesses to prosper at the ground level.
'There are deeper, underlying, forces at work and we need institutional arrangements to guard against them.'
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.
It had been pointed out to the banking regulator that one-day default was difficult to monitor in large companies, especially where cash flows are dependent on government payments.
Let all the stakeholders, especially the government, remember that if the Make in India lion needs to roar and rise again, it won't happen unless India Inc rises too, points out Shekaar Subramanian.
'It may sound like sacrilege, but does it really matter if the global raters downgrade India for fiscal slippage?' asks Tamal Bandyopadhyay.
'We get to know secrets such as some of India's top-rated firms do not always make payments when due and many State-owned, listed, enterprises that borrow in bond markets default regularly.' 'Without naming the bank, he says that ever-greening of poor loans by a part of India's shadow banking lay at the doorstep of India's banking, notably 'one private bank'.' Viral Acharya's Quest for Restoring Financial Stability in India won't be music to many ears, observes Tamal Bandyopadhyay.
Listing the series of reforms which led to the upgrade, he said while demonetisation took the economy towards greater formalisation and digitisation, use of Aadhaar ensured targeted delivery of government benefits.
Following several instances of poor drafting of Cabinet notes and bills in the recent past, on September 11, the Cabinet Secretariat wrote to all ministries and departments to read up paragraph 55 of the 'Handbook of Writing Cabinet Notes'. Archis Mohan reports.
Of the seven surveys presented under Modi govt, predictions of three were quite close to the actual GDP growth rate, one saw the base year change in between, but the last three were way off the mark.
News of all that transpired on and off the football field.
'Now we will have real employees as the owner of the airline.'
A source said that the lenders have proposed to change the management of the beleaguered air carrier as they feel it is not possible to run the company with present management.
Should we trust the folks who brought us Lehman and AIG with a privatized Social Security system? Should we trust them with our 401(k)s?
Entities like CarDekho, Cartrade and a host of other online players went live even as Carnation, former Maruti managing director Jagdish Khattar's first entrepreneurial venture, was searching for the right business model, says Ajay Modi.
Real Mallorca are still in talks with former Newcastle United chairman Freddy Shepherd about a possible takeover, the Spanish Primera Liga club said on Wednesday.
Several leading industrialists, including Reliance Industries CMD Mukesh Ambani, Vedanta Resources Limited executive chairman Anil Agarwal, chairman emeritus of Tata Sons Ratan Tata, Mahindra Group chairman Anand Mahindra, Paytm Founder and CEO Vijay Shekhar Sharma, Welspun Group chairman and Assocham president B K Goenka, attended the swearing-in ceremony.
A long crisis with a lack of sound short-term, long-term actions can result in sluggish growth in India, similar to that in Japan.
The 'mystery' of the education business sale by Cox & Kings is part of an Enforcement Directorate investigation, which is also examining the siphoning-off of funds to the tune of Rs 21,000 crore to dozens of so-called related-parties, highlighted by the forensic auditor.
Financial globalisation - or ultra globalisation - has done more harm than good to the majority of economies, say Anshuman Gupta & Karunakar Jha.
The apex court said Ambani and the others will have to purge contempt by paying Rs 453 crore to Ericsson in four weeks. A bench comprising Justices R F Nariman and Vineet Saran said if the 'contemnors' failed to make the payments within the specified period, they will undergo a jail term of three months.
The financial year ending Saturday saw such big-ticket events that set the directional tone for the country's business journey.
'Those who come from outside are surprised at the relatively small strength of the RBI supervisory cadre, relative to the needs of the country and the needs of the financial sector.'
Governments that did not respect the central bank's independence would sooner or later incur the wrath of financial markets, ignite economic fire, and come to rue the day they undermined the regulatory institution, Deputy Governor Viral Acharya warned.
As the government plans to take sector-specific steps to tackle the slump, Finance minister Nirmala Sitharaman will soon hold talks with representatives from various sectors to get and take steps so that the confidence of those sectors can be restored.
For state-run lenders, the average NPAs shot up to 14.5 per cent, with IDBI Bank, UCO Bank and Indian Overseas Bank having their NPAs at above 25 per cent.
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.
Gadkari, who handles key infrastructure-related portfolios, said there is no problem with the road sector at present and money is not an issue anymore.
The three companies for sale are Reliance Communications, Reliance Telecom and Reliance Infratel.
The prospects of India becoming a credible manufacturer of defence platforms or major weapon systems for export are remote, says Vice Admiral Premvir Das (retd).
