Over the past several months, the airline has struggled to pay vendors and staff salaries on time.
There would be no retrenchment of employees and that their services conditions would also not be affected post merger.
Analysts say there is still no visibility of earnings improvement.
Cascading effect of rising raw materials will result in inflation, high rates, slow capex
The central bank says that PSU banks need to generate more internal capital and that the government should cut stake.
Finance Minister P Chidambaram on Thursday announced a slew of legislations that would be brought in during the winter session of Parliament, including amendments to the NPA Act and regulation of credit information companies.
There is little sense in trying to find stocks that will not be vulnerable in a situation where 87% of the market is trending down and India is getting set for a crucial election, says Devangshu Datta.
'There is no difference between the earlier government and the present government.' 'They are all following the economic policy based on the Chicago School of thought.' 'This school of thought says the government should have very little role in governing the country and the majority of the work should be handed over to the private sector.' 'This has not succeeded in the US.' 'Yet, it is being tried here by people like Arvind Subramaniam, Arvind Panagariya, Urjit Patel and Raghuram Rajan.'
'Ultimately, people will revolt at one time or the other.' 'You cannot feed the public with cultural issues forever.'
Thanks to the recapitalisation by the government and measures taken by the central bank, collapse of any large housing finance company won't pose as big a risk as it had six months ago.
The RBI left the policy rates unchanged in Tuesday''s sixth bi-monthly monetary policy review.
RBI proposed that at least half of the compensation of a CEO should be variable. It also said that stock options should be part of the variable pay, against the extant practice of keeping it beyond and above the scope of the official compensation package.
The career bureaucrat-turned-central banker walked into the 19th floor corner room of the Reserve Bank on December 12, 2018. Since February 2019, the Das-led RBI has cut the repo rate by a whopping 135 basis points to support the sagging growth, including an unprecedented 35 bps reduction in August. As he completes one year at the helm, woes in the NBFC sector, overall health of the banking sector and steeply falling economic growth are among the major challenges that needs to be tackled sooner than later.
Their net NPA as a proportion of net advances were 2.2 per cent, compared with 1.7 per during the same period a year earlier.
Nitin Desai suggests some concrete measures to revive investment and boost growth.
Total income increased to Rs 41,833 crore (Rs 418.33 billion) during the quarter from Rs 37,199.92 crore (Rs 371.99 billion) in the corresponding period last year.
Bad loans in public sector banks more than tripled.
The Budget will obviously be crucial. But US President Donald Trump may have even more of an influence than Finance Minister Arun Jaitley when it comes to sentiment, argues Devangshu Datta.
Besides 15 loan transactions to the Siva group of companies, the former directors also used unique methods to ensure the group did not get into the default list.
Bankers have decided to fight back against 'arbitrary arrests' and 'harassment' by probe agencies.
The BSE Sensex spurted 130.00 points to end at 35,980.93, while the broader NSE Nifty advanced 30.35 points to 10,802.15.
SBI's net profit for the quarter rose 30.3% to Rs 2,910 crore ($468.4 million), from Rs 2,234 crore a year earlier on the back of rise in net interest income, fees, and control on employee costs.
In a message to public sector banks (PSBs) that only performers will survive, the government, in an unprecedented move, has decided to allocate capital to only nine PSBs.
The bank, however, maintained that the incremental benefit from the MCLR based lending rates introduced in April 2016 as an alternative to the earlier system of base rate, was positive.
This is the highest closing for both the indices since May 15.
The bank board had decided to launch an enquiry to be headed by an "independent and credible person", to examine and enquire into an anonymous whistle blower complaint alleging that the bank MD & CEO had not adhered to code of conduct
The RBI has been critical of banks for using restructuring schemes to hide the stress.
The Congress said arrogance of the BJP has touched its zenith as it turned 'blind' to farm distress.
In December 2016, RBI had granted additional 60 days for repayment of certain loans
Bandhan Bank to fund SMEs, create jobs, says FM
Jaitley also asked banks to take steps to ensure smooth credit flow to projects.
The stock was the top gainer among the blue-chips on both Sensex and Nifty.
Raghuram Rajan, whose current three-year tenure ends on September 4, has already said no to a second term.
'We focused on de-risking our balance sheet but we are very clear that the steps we have taken over the past few years, about changing the proportion of the loan mix, improving the ratings of the incremental portfolio, and reducing the concentration risks have now created a strong position that will allow us to attain growth with stability.'
Gross NPAs of public sector banks were Rs 41,378 crore (Rs 413.78 billion) in March 2006, which came down to Rs 38,305 crore (Rs 383.05 billion) in March 2007 because of better economic environment.
'Normally, the system is geared towards counting notes -- it is equipped to do x amount of work and one day you are asking them to do 20 x.' 'The processes involved are very complex.'
Shareholder advisory companies are raising eyebrows at the ICICI Bank board not being aware of Firstland's investment in NuPower
RBI may also be open to injecting liquidity through open market purchases of bonds but is resisting relaxing capital buffers for banks.
Asserting that foreign funds are very bullish on investment opportunities in India, a senior government official said on Friday the country was a profitable place to do business and would soon become an easier place for business.
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