ICICI Prudential Life Insurance has become the first private insurance company to cross Rs 10,000 crore sum assured over a premium income of Rs 680 crore within 3 years of operations and plans to hike its capital further to expand the business.
A day after its bigger rival ICICI Bank cut its lending rate, the third-largest private lender, Axis Bank, on Friday lowered its base rate by 0.10 per cent to 9.85 per cent, effective June 30.
The step followed Reserve Bank Governor Raghuram Rajan's hard talk.
'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.
Banking stocks led by SBI, ICICI Bank, Bank of Baroda, PNB, Kotak Bank, HDFC Bank, Axis Bank, Federal Bank and Yes Bank fell as much as 2.77 per cent.
In addition to challenges such as reining in non-performing assets (NPAs) and boosting profits, Chaudhry will have to repair the bank's reputation, build internal controls, and improve regulatory relations.
However, the remuneration of Puri and Kochhar are not strictly comparable as the two banks follow different accounting practices.
She pocketed Rs 9.12 crore as remuneration in FY16
While Chanda Kochhar got a pay of Rs 2.66 crore, Arundhati Bhattacharya took home only Rs 28.96 lakh
The RBI has cited corporate governance and regulatory issues for not extending Kapoor's term. Further, the lender has been directed to search for a successor.
Gill, who studied at Modern School and Hindu College in Delhi, joined Deutsche Bank in 1991 and became its India CEO in 2012.
The 57-year-old Bhattacharya, front-runner for the post on account of years of service left, was managing director and chief financial officer of the bank prior to her elevation.
Women dominate Indian banks's clerical and officer rolls, but few make it to the executive office these days, notes Tamal Bandyopadhyay.
ICICI's Chanda Kochhar, ranked highest among Indian women, has been ranked second across the region
Persistent capital inflows by domestic institutional investors and retail investors kept the markets in fine nick
The prime minister's sop is expected to give a massive boost to priority-sector housing loans, thereby pulling the entire housing loan portfolio of banks.
He will be in Mumbai for a day to deliver a keynote address at Future Unleashed.
Sebi found that on average, the remuneration paid to CEOs in certain Indian companies are far higher than the remuneration received by their foreign counterparts.
As liquid tightening measures were likely to be temporary, any change in lending rates would depend on the length of these measures, according to bankers.
For the baning sector, 2018 was a 'Year of Exits' - borrowers fled from the country as loans went kaput and many bank CEOs were forced to leave
With the 50 bps rate cut now more banks are expected to reduce their base rate.
The non-watchlist stress emanated from over five year-old loans in the iron and steel, infrastructure and construction sectors.
Generally, the central bank grants its approval by mid-March, or latest by March 31, but most banks have not received RBI approval on bonus packages this year.
Top bankers have hailed the contributions of the outgoing Reserve Bank Governor Duvuuri Subbarao saying he did his best during a tenure that was marked by difficult times for the economy.
The resignation is sure to create more political firestorms for the government as it comes on the eve of the winter session of Parliament where the Opposition has already made it clear to the treasury benches that infringing on the RBI autonomy would be a big talking point for them.
Six Indian women have made it to Asia's most powerful women list released by Forbes.
Market leaders in this line of business - New India Assurance and Tata AIG - have begun to reassess the premium on risk exposure of their portfolio in the director's and officer's liability business.
Raghuram Rajan has appointed him as head of several committees soon after taking charge.
A revival in investment is likely to be a key near-term initiative.
Unified Payments Interface launched to simplify mobile banking.
Have you heard of the 'chillow' that can cool your pillow? Or the 'bedroom plant'?
The committee's suggestion that existing commercial banks be allowed to hold payment banks as subsidiaries is also seen as unviable by RBI and the finance ministry.
Our busy schedules, our living conditions where sunlight is often a luxury, pollution as also social mores that frown upon exposure are collectively responsible.
After the recent attack on debit cards exposed the gaps in their security systems, banks are getting serious about data privacy.
As pollution reaching alarming levels in Delhi, Veer Arjun Singh guides you how to protect yourself.
With pollution reaching alarming levels post Diwali, what is the best way to cope?
CEOs of leading banks say third straight rate hike by RBI inevitable, though not desirable.
When it comes to key hands-on management positions, India Inc is still largely run by men.
'She was either overconfident that nothing will happen to her or she underestimated the gravity of the allegations.'
Jammu and Kashmir MLA Ramesh Arora wants momos banned, but are they really unhygienic and harmful?
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