New-generation private sector banks such as ICICI, HDFC, Axis, Kotak etcetera owe their existence to the recommendations of the first Narasimham Committee.
In FY23, the State Bank of India (SBI) reported a 57.4 per cent jump in its net profit to Rs 55,684.17 crore. But the chairman of the country's largest bank, Dinesh Khara's annual pay for this creditable performance was just Rs 37 lakh (his peers at state-run banks are no better off). Look at his private bank rivals - most pocketed in excess of Rs 7 crore annually - plus stock options.
Since March 31, 2022, the PSBs' market cap has risen 43.7 per cent, from Rs. 7.29 trillion to Rs. 10.47 trillion. It's time for the government, the majority owner of public sector banks, to reap the benefit of the rally in bank stocks, recommends Tamal Bandyopadhyay.
I thought Saudi Vellakka a glancing, loving depiction of the judicial system as a pageantry filled with performers trying to do right by everyone, do everything by the book, and failing despite their best attempts, observes Sreehari Nair.
The central bank held 72.5 per cent equity in Nabard worth Rs 1,450 crore, of which 71.5 per cent amounting to Rs 1,430 crore were divested way back in October 2010 and the residual shareholding was divested on February 26, 2019.
Never before has the need for creating an ambience for economic policy reforms been as critical as it is now, points out A K Bhattacharya.
Indeed, there were frauds, and the politician-banker-industrialist nexus played a role in the rise of NPAs, but governance issues in Indian banking are far more nuanced and complex, reveals Tamal Bandyopadhyay.
Get your lowdown on what's happening in Malayalam cinema.
The Malayalam movie brings together celebrated directors and outstanding actors from the movie industry.
No government can 'ignore inclusiveness in a democracy', Montek Singh Ahluwalia tells Anjuli Bhargava.
This Chennai eatery serves pretty much any cuisine that a hole-in-the-wall eatery can offer.
Sri Manikanta Associated is looking for summer interns to promote Medical Insurance and Real Estate in and around Hyderabad.
However, The Lok Sabha did not take up notices for no-confidence motion
Banks feel happy shifting their toxic assets from loan books to investment books while the ARCs enjoy the management fees with a smile, observes Tamal Bandyopadhyay.
But their trajectory and direction have been largely influenced by politics and the political leadership's understanding of how the economy needs to be managed, explains A K Bhattacharya.
The TDP snapped its ties with the BJP alleging neglect of the southern state and failure of the Centre to grant special category state status to Andhra Pradesh.
Credit rating agency ICRA has said that mergers are one of the best options for growth of Indian banks but warned that it may not solve some "basic problems" of Indian banks plagued by inferior asset quality, poor management and lack of autonomy.\n\n\n\n
Chandrababu remarked that the whole nation was watching how each party was behaving.
For development finance institution to succeed now, the government must stand like a rock behind it and be patient.
Jalan has unquestionably left an indelible mark on Mint Street.
A lowdown on all the goings-on in the Malayalam film industry.
As soon as the Zero Hour commenced at noon, AIADMK and TDP members trooped in the Well, raising slogans and carrying banners demanding stalling of a dam on river Cauvery and special state status to Andhra Pradesh respectively.
YSR Congress chief Jagan Mohan Reddy has written to leaders of various parties seeking their support for the motion.
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Addressing a Ficci-organised banking summit in Mumbai, he at the same time said that it will take several years for the country's banks to achieve the status of a large global bank.
It rejected Mann's apology saying his statements to the panel were contradictory with the MP from Sangrur denying the charge that he had breached Parliament's security arrangements.
'We can't have the best of both worlds -- large, efficient, world class government-owned banks, doing social banking and making profits. 'Why not set them free from the shackles of such obligations and run them as business units?' says Tamal Bandyopadhyay.
Chandy said Modi had kept mum on the controversy and what Keralites want is not his silence, but an unconditional apology from the prime minister.
As soon as Speaker Sumitra Mahajan took up the Question Hour, members from these parties trooped into the Well holding placards.
The discussion paper is released at a time when the central bank is sifting through 26 applications seeking an entry into the fray.
The government is considering a proposal to privatise some state-owned banks in phases.
The Eastern Naval Command is all geared up to host the International Fleet Review in the Bay of Bengal off Visakhpatnam coast which begins on Wednesday, a mega event that will witness participation from nearly 50 countries.
Ahead of the visit of an all-party delegation to Jammu and Kashmir, political parties on Saturday pitched for holding dialogue with "all stakeholders", including Hurriyat, to douse the unrest and banning the use of pellet guns by security forces.
Normal life remained paralysed for the second consecutive day in the 13 districts of the coastal Andhra and Rayalaseema regions of the state following the bandh call by Andhra Pradesh Non-Gazetted Officers and YSR Congress against the tabling of the Telangana bill in Lok Sabha.
On July 25 too, the speaker had asked Mann not to attend the House till a decision was arrived at.
This is the first time that no-confidence motion notices have been moved against the Modi government in 4 years.
Treading a cautious path on the Telangana issue, Andhra Pradesh Chief Minister N Kiran Kumar Reddy said in Hyderabad on Thursday that the Centre should address the complicated issues concerned with the bifurcation of the state first before it embarks on the process.
The enquiry committee has been asked to file its report by August 3 and Mann has been asked to make a statement on Tuesday at 10:30 am.
The Governor had submitted his report to the Public Accounts Committee and put the blame on 'overall economic downturn'
Government employees in 13 districts of coastal Andhra and Rayalaseema launched an indefinite strike on Tuesday protesting the proposed bifurcation of Andhra Pradesh.
Rajnath Singh led the delegation of 26 MPs from 20 parties which stayed overnight in Srinagar before stopping over in Jammu this afternoon.
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