Analysts say strengthening bank's capital will boost earnings, bank needs chief with long stint to run show
The talk of governance reforms at public-sector banks seems to remain on paper, as a majority of them continue to be working with just a handful board members. Half of the board seat at these banks have been vacant. Ten of the 12 public-sector banks, even large ones like Punjab National Bank, Canara Bank and Union Bank of India - all except State Bank of India (SBI) and Bank of Baroda - don't even have a chairman. In 2014, while splitting the post of chairman & managing director (CMD), the government had decided to appoint non-executive chairmen at these banks. SBI, which has an executive chairman and four managing directors, was an exception.
It further asked the government to make suitable arrangements for smooth functioning of the bank.
Households with only one employed person can be considered to be somewhat vulnerable. Their proportion is rising. Also rising is the proportion of highly vulnerable households with no person employed, observes Mahesh Vyas.
Only West Asia and North Africa have a lower employment rate than India, points out Mahesh Vyas.
'We are today worse off today compared to where we were two years ago by as much as 43 per cent,' notes Mahesh Vyas.
With a revival in demand and consumption, FMCG companies are looking forward to 2022 with positivity and hopes of sustaining a healthy growth trend across both rural and urban markets while gearing up to cater to the ever-increasing digitally active consumers and tackle the challenge of higher commodity prices. Health and wellness and convenience are going to remain key trends and FMCG companies are strengthening their core brands, driving premiumisation across their portfolios with targeted innovations as consumers are gravitating towards trusted brands looking for quality, purity and hygiene, in continuation of the trend that started since the pandemic last year. FMCG makers are accelerating digitalisation and are investing in building capability in e-commerce and Direct-to-Consumer channels, identifying it as a key vector of their growth as the threat of a possible third wave is still not away.
Institutional Investor Advisory Services had recommended investors to vote 'against' the proposal, while Stakeholders Empowerment Services asked investors to vote 'for' the proposal.
Axis Bank's acquisition of Citibank's consumer finance business for Rs 12,325 crore - the second biggest deal in the Indian banking sector - is seen as a good deal at a good price. The acquisition enables Axis Bank to close the gap with competition in some key segments such as credit cards. At the same time, there are some key issues that are crucial for the deal's success, apart from the fact that it will take some time for Axis to reap the full harvest of its investment.
Mercedes-Benz India started producing the new generation cars (NGC) in its global assembly network along with sedans and SUVs locally.
'It is critical that the Covid curve does not have a fat tail and the chain is broken quickly.'
Former CEA Arvind Subramanian called for research in the area and urged the NSE Centre for Behavioural Science in Finance, Economics and Marketing to explain why as the economy has been going down, the stock market has been going up.
Jignesh Shah, who is fighting legal cases in the NSEL's Rs 5,600-crore scam, has resigned as the Managing Director of Financial Technologies India, a company set up by him, and will become its Chairman-Emeritus.
From the 30-share basket, 28 scrips suffered losses. Over 200 stocks were at their 52-week low in Tuesday's trade.
As per the RBI Act, the central bank should have four deputy governors - two from within the ranks and one commercial banker and the fourth one an economist to head the monetary policy department.
Business executives are finally dusting off their long-unused suitcases to resume travel, thanks to a good vaccination rate, a drop in fresh cases, and an easing of travel restrictions. It comes as a huge relief for the ravaged aviation, travel and hospitality sectors. "We are witnessing a 40 per cent recovery on pre-covid volumes from our business travellers, signalling the return of corporate confidence in air travel," said Indiver Rastogi, president & group head, Global Business Travel, Thomas Cook (India) & SOTC.
The challenges of transition to stricter emission norm BS-VI from BS-IV and compliance to new safety norms thereby making vehicles costlier are lurking around the sector.
World No 1 shuttler Saina Nehwal presented the racquet with which she won a silver medal at the Badminton World Championships to Prime Minister Narendra Modi as an advanced birthday present, on Wednesday.
Almost all banks that issue contactless cards provide users with a 100 per cent liability cover.
Rapid strides in digital payments notwithstanding, the Indian economy will likely remain cash-dependent for many years to come, at least that's what the automated teller machine makers and cash logistics companies are betting on. After growing at over 20 per cent for most of 2020, currency in circulation growth fell to 8.5 per cent as of October 29 this year, shows data from the Reserve Bank of India (RBI). The reason for the steep rise in currency last year was the uncertainties related to the Coronavirus (Covid-19) pandemic, where people preferred to hoard cash to meet exigencies.
Tendulkar will join thousands of runners during the IDBI Federal Life Insurance New Delhi Marathon, on Sunday, to raise funds for the families of the martyrs of the Pulwama terror attack.
The tax portal problem is a goof-up by both sides, and making Infosys the only villain in the story is quite unfair, argues Shyamal Majumdar.
Affordable pricing, a variety of themes, and the ease of transacting are among key reasons that have made smallcases a hit among young investors.
Labour seems to have found employment as maids, cooks, gardeners, security guards and the like -- a transition that could be described as from farms to the kitchen sink, instead of farms to factories, observes Mahesh Vyas.
These products are extremely transparent and are the lowest charged products in the insurance space. The policyholder has to only pay the fund management charge. Hence, from the cost side, ULIPs are very competitive.
In the past 12 months, since September 2020, the net cumulative increase in employment has been just 44,483. This is negligible -- just 0.04 million on a base of over 400 million jobs, reveals Mahesh Vyas.
After Chanda and Deepak Kochchar, the Kudvas are the second power couple in the financial world to come under the regulatory glare.
The bank's board has already established a search and selection committee comprising three members from the existing nomination and remuneration committee along with two external experts to identify Kapoor's successor.
The Economic Survey will remain a documentation of the government's resolve to not recognise the severe stress on the labour markets and on the livelihoods of Indian households arising out of the pandemic and the consequent lockdown, observes Mahesh Vyas.
C K Birla group company Hindustan Motors (HM) has drawn up plans for restructuring of the company which was suffering from poor cash flow due to lack of vehicle sales.
Byju Classes' founder Byju Raveendran, Zomato co-founder Gaurav Gupta, CEO of Antara Senior Living, Tara Singh Vachani, Vinati Organics' MD & CEO Vinati Mutreja and Swapan Mehra, CEO of Iora Ecological Solutions are among 115 young leaders.
Infosys has a new M&A head to enhance trust on inorganic growth.
MD Chanda Kochhar says the facility 'has the potential to increase security and convenience'
Mercedes-Benz on Friday said it will announce the launch of a separate brand for pre-owned cars in December.
While many of the lost jobs will come back, the current loss is huge and its impact on the households that have suffered because of this cannot be captured in the comfort that jobs will come back eventually, observes Mahesh Vyas.
Gold loan companies offer loans to financially-excluded customers and MSMEs by enabling them to monetise their gold without the need for documentary proof of income
A Delhi University alumnus with an MBA in finance and a doctorate, Vaish started his career as a banker in 1984, became an academician a few years later and joined the capital market in 1998.
Petrol variants of the car are priced between Rs 6.38-7.09 lakh.
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