Ramesh Gelli, then 37, was the youngest chairman in Indian banking industry when he headed Vysya Bank in 1983. Now 58, he plans to retire from banking for ever.
The rising pitch of road shows and long rallies with hectoring pitches seem to have exhausted and numbed the audiences, rather than motivating them to vote for the party, observes Shreekant Sambrani.
While Sunak has maintained a dignified silence over the recent crisis, his supporters have not lost any opportunity to point out how the former finance minister had got the economic forecasts right.
Analysts said even though the Indian economy is expected to slow down to 7.2 per cent in fiscal 2020, it is still the best bet for investment for foreign investors.
One thing is for sure: It smacks of the regulator's lack of confidence in the bank's board, points out Tamal Bandyopadhyay.
The RBI, which has no interest or mechanism to get feedback from bank customers, is unaware of this. If made aware, it remains silent, proving that it has no problem in allowing lenders to short-change its customers, says Debashis Basu.
German tennis great Boris Becker was jailed by a London court on Friday for hiding hundreds of thousands of pounds of assets after he was declared bankrupt.
The IPO lane will continue to be busy in December as 10 companies have lined up initial share-sale plans worth more than Rs 10,000 crore, merchant banking sources said on Wednesday. Moreover, the initial public offerings of Star Health and Allied Insurance and Tega Industries are currently open for public subscription. This comes after 10 firms successfully concluded their initial public offerings (IPOs) in November. Among the companies that scheduled their IPOs in this month include RateGain Travel Technologies, travel and hospitality technology services provider, and Anand Rathi Wealth Ltd, part of Mumbai-based financial services group Anand Rathi.
HDFC Bank is on a global search to find a successor to the founding-chief executive Aditya Puri, as he would turn 70 next year.
The probe into alleged tax evasion and holding of directorship in multiple firms against the former banker pertains to a time period between 2015-17, they said.
The government holds 90 per cent stake in ITI which is valued at Rs 7,550 crore.
B Sriram, the senior-most managing director at SBI, along with fellow MDs Rajnish Kumar, P K Gupta, and Dinesh Kumar Khara had been interviewed for the post
Frenzied scenes were witnessed at the airport this morning when Pele landed in the Kolkata after 38 years as the 74-year-old Brazilian turned emotional and stood on the floor of his SUV to wave at the crowd, who kept chanting his name.
It is up to the bank management to decide which application gets to interact with the CBS
The problem here is that internal auditors are good at accounts, but they are not trained to track foreign exchange transactions
FSN E-Commerce Ventures, which runs online marketplace for beauty and wellness products Nykaa, has filed preliminary papers with markets regulator Sebi to raise Rs 3,500-4,000 crore through an initial share-sale.
No new capacity addition is planned for 2018 and capital expenditure plans are on hold
Relations with the government, the bank's majority owner, are a tricky issue for all SBI chiefs, and, like all his predecessors, Khara will be closely watched for his equations with the finance ministry representative on the SBI board.
For the AI bid, Interups has joined hands with a few employees of the airline, and plans to raise funds by splitting some of its infrastructure-related assets into an aviation InvIT, which will have underlying assets such as air routes, ground handling, repairs, and training etc.
Listed companies have seen equity deals worth Rs 23,500 crore in March.
The market buzz is that the GoAir promoters are hoping for a valuation that is at least a little more than double its closest rival SpiceJet.
A seasoned banker with over 30 years of experience, Bakhshi is a mechanical engineer from Punjab Engineering College, Chandigarh. He has a post-graduate degree in management from Xavier Labour Relations Institute.
Apart from easing the NPA pressure on domestic banks, the RBI's move can allow companies to raise cheap, long-term loans easily now.
With the management of most State-owned banks hardly having time to concentrate on big-ticket business, growing the business of loan disbursals has been pushed down the priority order.
Raghuram Rajan has appointed him as head of several committees soon after taking charge.
'She was either overconfident that nothing will happen to her or she underestimated the gravity of the allegations.'
The IEMs could be those former officers of government and PSUs who have retired from top management positions and also eminent persons and executives from the private sector.
After Chakrabarty's exit there will be two vacancies for deputy governors in the central bank.
The retirement age for public sector bank employees is 60 years. The PFRDA chairman can serve till the age of 65. Sources said the proposal was being sent to the appointments committee of cabinet.
Gopalakrishna's name was in the reckoning for Deputy Governor in place of Anand Sinha who retired in January.
A bench comprising Justices S A Bobde and A M Sapre also said that they will appoint three more members to the CoA and the orders to this effect would be passed in chambers.
Experts said the 20 per cent drop in the market poses a challenge for companies that have set the ball rolling on their IPO plans as valuations will now have to realign. This could entail more dilution or lowering of the issue size.
While student housing, retirement homes, and co-living spaces are going to be new realty growth drivers, Parekh also said foreign investors have also been investing in a big way in good commercial projects, while warehousing is another segment where they are showing keen interest.
He was previously Prasar Bharti CEO.
An Indian diplomat should aspire to represent something even larger than the government, even larger than the somewhat abstract concept of the 'Indian State'. He should rejoice in representing the ethos of India and all of its grand sounding facets: Civilisation, culture, customs and cuisine, says recently retired Ambassador B S Prakash.
Y H Malegam, 80, will head the panel that will look into non-performing bank assets and their relation to the Rs 114-bn PNB scam.
The central bank has nine executive directors, and one of them -- S Karuppasamy -- retired recently. R Gandhi, who was executive director, has now been promoted to the post of deputy governor.
A career Citibanker, 'Selva' came into the spotlight as the person who rewired the financial behemoth's Indian retail operations.
At the recently concluded Dubai airshow, Akasa, Rakesh Radheyshyam Jhunjhunwala's new airline, signed a $9 billion deal with American aircraft maker Boeing to buy its 737 MAX planes and a $4 billion one for engines with CFM, a joint venture between GE of the US and Safran of France. Unlike his financial doppelganger Warren Buffett, who divested billions from his airline stock portfolio at the start of the pandemic, Jhunjhunwala is wagering his billions in a brand new airline. The legendary investor bought a roughly 40 per cent stake in SNV Aviation in September, Akasa's holding company, started in March by three former Jet Airways colleagues. With aviation still to recover from its pandemic slump, the big question around his foray into domestic aviation, due to take off in summer 2022, is whether it is another pie in the sky.
In a major top-level management restructuring, India's second largest software firm Infosys on Saturday named veteran banker K V Kamath as the new chairman to succeed founder N R Narayana Murthy, who retires in August.
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