Industry leaders including Google's India-born chief executive Sundar Pichai on Wednesday mourned the death of Ratan Tata, saying the veteran industrialist cared about making India better. "He leaves an extraordinary business and philanthropic legacy and was instrumental in mentoring and developing the modern business leadership in India. He deeply cared about making India better," Pichai said in a post on X. Pichai recalled that his last meeting with Tata was at Google's office where they spoke about the progress of self-driving car Waymo.
US investment banker JP Morgan has given 'overweight' rating on four Adani group bonds, comforted by ability to scale and grow using internal cash flows which reduces the scope for credit stress. In a report, JP Morgan gave 'overweight' rating on three bond issues of Adani Ports & SEZ and one by Adani Electricity Mumbai Ltd (a subsidiary of Adani Energy Solutions Ltd). It has taken neutral stand on other five Adani bonds and is underweight on one bond issued by Adani Green Energy Ltd.
Trump's sweeping tariffs and penalties on China-built ships have turned global shipping into the front line of economic war, observes Shyam G Menon.
Exuding confidence in sustaining the tempo of credit growth, public sector bankers said on Wednesday that consolidation in the public sector bank (PSB) space has given them a robust base to scale. The privatisation of PSBs can be done through divestment of government stake to a wider base of investors without haste. There is nothing to worry about at this point (high credit offtake) as underwriting standards and risk management are much better.
Gaurav Deepak has raised funds for about 100 new-age entrepreneurs.
'In India, managers and the leadership almost glorify overworking.'
Bharatiya Janata Party legislature party leader Devendra Fadnavis was sworn-in as new chief minister of Maharashtra while allies Eknath Shinde and Ajit Pawar took oath as deputy CMs at a grand ceremony in Mumbai on Thursday evening.
Siddharth Roy Kapur's RKF aims to raise around $50 million by offering up to a 50 per cent stake in the company.
'The book captures Rana Kapoor's hunger for real estate leading to bungalows in Delhi, Mumbai, London and other cities; the multiple companies -- over 100 -- to fund his family's various ventures; the attempt to game the system by showing lower non-performing assets,' notes Joydeep Ghosh.
Temasek is nearing a deal to acquire a 10% per cent stake in Haldiram Snacks Foods, valued at $10 billion.
'He asserted in his usual jovial style that he was not an MBA like his audience at IIM-Ahmedabad but perhaps had an even better business degree: MBB'. 'He went on to explain to his perplexed, blue chip B-School audience that MBB stood for "Marwadi by birth"!' Shivanand Kanavi salutes Shashi Ruia, co-founder of the Essar group who passed into the ages on November 25, 2024 in Mumbai.
'IPOs have performed exceptionally well, with a notable increase in average ticket size from Rs 800 crore in the last financial year to around Rs 1,300 crore in this financial year.'
Sanyal, 57, had joined the Aam Aadmi Party after quitting her job as the country chief executive of Royal Bank of Scotland, and contested the Lok Sabha election in 2014.
Speaking at the Business Standard Banking Round Table in Mumbai on Monday, five of the six bank chiefs said 'no' when asked whether RBI should raise rates in the second quarter review of the monetary policy on October 25.
The time-bound nature of the bankruptcy code, envisaging resolution within 180 to 270 days, would put enormous pressure on the existing judicial infrastructure.
'What is Balaji without Ekta (Kapoor), what is Dharma without Karan (Johar?)'
The comments come within a month of the arrest of seven people, including the chief executive of LIC Housing Finance by the Central Bureau of Investigation in connection with the scandal.
Traffic jams deny 'family time' to people and cause three per cent of divorces in Mumbai, former Maharashtra chief minister Devendra Fadnavis's wife Amruta Fadnavis has claimed.
Bankers said India's structural story from medium to long term was intact and they were optimistic about the future.
'The FSIB will conduct interviews for the SBI chairman position on May 21-22 as the tenure of the current chairman Dinesh Kumar Khara is scheduled to end by August.'
Chidambaram first met bankers and industrialists in Mumbai to seek ways to revive slowing economic growth.
Why is the RBI harsh on Paytm Payments Bank? Why did it give Rana Kapoor of Yes Bank Ltd such a long rope?Often, it's a long investigation process, but the RBI doesn't discuss this openly since that can threaten financial sector stability, explains Tamal Bandyopadhyay.
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
The biggest challenge was the large government borrowings that are likely next year to finance the government's fiscal deficit, bankers said at the Business Standard Banking Round Table in Mumbai on Tuesday. According to initial estimates put out by the government, the fiscal deficit will be 5.5 per cent of gross domestic product.
Rather, the existing ones should be implemented speedily to clean up the mess.
The revival in Mumbai's property market could help the group.
P Chidambaram's appointment as India's Home Minister and his finance portfolio going to Prime Minister Manmohan Singh will boost investors' confidence and stock markets will take it positively, bankers, analysts, investors said on Sunday.
The bank was worth over Rs 80,000 crore as recently as September 2017. The lender had grown at breakneck speed, helped perhaps by Rana Kapoor's reputation as a banker, willing to aggressively write checks.
The Adani group, buoyed by a sharp recovery in its share prices over the past year, is set to embark on a series of roadshows this week to raise up to $4 billion (approximately Rs 33,254 crore) through equity and refinancing of older debt, according to banking sources. The roadshows, scheduled to take place in major cities, will inform investors about the group's investment plans across renewable energy, petrochemicals, and infrastructure development.
It may sound bizarre, but incidents of public sector bankers dying by suicide could probably equal the number of such bankers quitting their jobs, reveals Tamal Bandyopadhyay.
The Softbank-backed company has set a price band of Rs 72 to Rs 76 per share for the maiden share sale and is expected to test the appetite for new-age loss-making companies.
The government has set a growth target of 20 per cent for banks both in the credit and deposit segments in the current fiscal.
Lenders, with Rs 600-cr exposure to telco, want it to sell properties to repay loans.
CEOs of leading banks say third straight rate hike by RBI inevitable, though not desirable.
Sir Osborne Smith was the first governor of the Reserve Bank, serving from April 1, 1935, to June 30, 1937.
'Lending to Mr Mallya was the bankers' season ticket to corridors of power and glamour. Borrowing from them was like a favour Mallya did to them,' says Shekhar Gupta.
Every defaulter is not a wilful defaulter who has the capability of paying back and is yet not servicing the bank loan, observes Tamal Bandyopadhyay.
Relaxation in KYC guidelines has helped meet the target but this could lead to money laundering and financial malfeasance, it is feared.
