At India Economic Convention organised by India Foundation, Parekh said the country needs $1 trillion in the 12th Plan of which 47 per cent was to come from private sector, but it has not happened in the first two years of the Plan period.
United Bank of India has denied having defaulted to the tune of Rs 800 crore. It also dismissed any merger talk.
'It is going to be a buyers' market and you will get a good number of companies at reasonable valuations and that's when one has to be very greedy.'
The rally followed the govt's plan to bolster state-owned lenders.
In 2009, ArcelorMittal had picked up a stake in Uttam Galva Steels. A new Section 29A of the IBC prohibits promoters of companies with NPAs of more than a year from bidding for these companies.
Rajan said it is hard to offer an objective self-assessment but the RBI should probably have raised more flags about the quality of lending in the early days of banking exuberance.
The government plans to bring down its stake to 26 per cent in these two banks, which are yet to be identified. This may not come in the way of getting investors for these banks, provided the government is willing to step back rather than run them the way it had been doing for over five decades since these banks were nationalised, points out Tamal Bandyopadhyay.
The country's largest bank registered a consolidated net profit of Rs 4,448.15 crore in the same quarter last year.
Standalone total income increased to Rs 74,457.86 crore in the first quarter of 2020-21, from Rs 70,653.23 crore in the same period a year ago.
A freely convertible country must have sound macroeconomic policies.
The government had announced a waiver of over Rs 60,000 crore (Rs 600 billion) in advances to farm sector as a one time measure in the budget of 2008 following stress in the rural sector.
MF investors may not be able to support markets fall if selling intensifies
With over Rs 15,000 crore in deposits, its strategy is a hit for now, but the real test will come when it starts lending to retail and corporate customers in a big way
The 'bad bank' -- which will help banks clear their balance sheets by transferring the NPAs to special purpose vehicles -- has been one of the most debated ideas for stressed asset resolution.
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2014 made a lot of promises; can the new year deliver?
Factors like dedicated recovery teams, centralised follow-up on bad loan accounts and resolutions via NCLT are driving the trend
Report points out corporate vulnerability indicators remain elevated.
About 50 per cent of the accounts that availed of the EMI moratorium amid the pandemic, which made things worse in an already slowing economy, are expected to be restructured, and of these accounts that would undergo restructuring, one-third, or Rs 6-9 trillion, could turn into NPAs.
The consolidated entity can target good growth FY18 onwards, analysts say.
Mutual funds, bonds, PPFs, equity and real estate are some options which offer varying rates of return.
The central bank has not set a deadline for banks to conclude the stress-test exercise, but senior bankers opine that some were already looking at this, and will now fast-track it by September-end, when they will have a better picture of their books after the moratorium on the servicing of loans and a 180-day view on the performance of borrowers' accounts.
CM Stalin has a procedural problem. Nominating new ministers would entail his having to seek formal permission from governor R N Ravi. Stalin does not want to interact with the person of this governor, as far as possible, predicts N Sathiya Moorthy.
Watsa, who has always believed in founders and management of the companies he invests in, has said that he restarted talks for the Catholic Syrian Bank deal due to CEO C V R Rajendran's initiatives
Mid-cap information technology (IT) stocks dominate the list of companies that are trading significantly above their 200-DMA
In his first comments after resigning as RBI governor on December 10 last year amid sharp differences with the government, Patel said banks indulged in over-lending, while the government did not "fully play" its role, and also conceded that the regulator should have acted earlier.
'We will test the waters, ferret out information through our business correspondents, and only then open a branch'
Hudco had in 2006 given a loan of Rs 62.38 crore to Bakshi's private venture, Ascot Hotels and Resorts, for a commercial project in Noida. The loan, however, turned NPA in 2011.
Non-Performing Assets are a wake-up call for public sector banks.
Bombay Bullion Association to develop a software for the same.
Currently, banks are closed every second and fourth Saturday of a month. Why shouldn't they be shut every Saturday? When most customers carry their banks in their pocket (the app on the mobile phone), there is no need to keep banks open on Saturdays, argues Tamal Bandyopadhyay.
While analysts remains overweight on financials, property, discretionary, industrials and materials, they maintain a neutral stance on pharma, telecom and energy; and underweight on staples, utilities, and IT services.
The rise in government borrowings through bonds is impeding the growth of the corporate debt market in the country.
LVB had faced some serious flak in terms of bad loans, earnings and credit rating downgrades, since 2016.
Raghuram Rajan, whose current three-year tenure ends on September 4, has already said no to a second term.
Your money is protected by the Deposit Insurance and Credit Guarantee Corporation.
Governor Rajan stressed on the benefits over a medium-term.
Economic Affairs Secretary Subhash Garg is the finance ministry's primary liaison with the RBI.
As a result of this moratorium, individuals' EMI payments of loans taken will not be deducted from their bank accounts, providing much needed liquidity to borrowers whose income has been disrupted due to the lockdown till May 31.
The gross bad debt of the Indian banking system as of March was at Rs 7.11 lakh crore
Letter to corporate affairs ministry cites slowing economy, capital challenges.
