The stress in the banking sector, which mirrors the stress in the corporate sector, has to be dealt with in order to revive credit growth.
The government's move to sell enemy shares comes when it is struggling to meet its target of raising Rs 800 billion from the sale of State assets in the fiscal year ending in March 2019. The Custodian of Enemy Property of India holds around Rs 3,000 crore worth of equity shares besides land and property across India.
The central bank has ordered lenders to clean up balance sheets by March 2017
It is also learnt that Deutche bank has initiated a search for a new head of its private wealth management business in India
Most NBFCs will have to slow down their loan growth. Some of the most leveraged will have to sell a part of their assets (or loan book) to banks to raise incremental capital. Others may have to knock on the door of their deep-pocketed parents.
New technologies such as block chain are throwing up new opportunities; so the axe is bound to fall on those who are still stuck in the past and not reskilling themselves, says Shyamal Majumdar.
This was the second consecutive yearly outflow from such funds.
At gross level, MFs mobilised Rs 43.67 lakh crore (Rs 43.67 trillion) in August.
Mallya, whose Kingfisher Airlines owes money to several banks, had on Thursday said he will challenge UBI's decision to declare him a willful defaulter.
The strong inflow in MF schemes coincided with a gain in BSE's benchmark Sensex by two per cent last month.
Bollywood starlet Rakhi Sawant who is contesting from Mumbai North West seat has declared herself an "illiterate" with total assets of Rs 14.69 crore.
Firebrand Aam Aadmi Party leader Shazia Ilmi has declared a liability of Rs 59,000 as power bill dues even as she holds assets of over Rs 4.42 crore.
Gold exchange-traded funds (ETFs) have further lost favour among Indian investors.
Coming down heavily on MF players who in recent past chose to use shareholder fund to buy out debt of bleeding invested companies, Sebi said MFs can't have standstill agreements with companies and will take action against fund houses for such deals.
Many of India's sleepy state banks don't have the management capacity they need to tackle bad debts and deals at the same time, says Una Galani.
Reliance Industries will announce its unaudited financial results for the third quarter ended December 31, 2003 on Thursday, January 29, 2004.
Out of the 167 candidates, 54 are crorepatis. Manipur Election Watch and Association for Democratic Reforms ADR said.
Bank of Baroda is likely to merge its housing finance arm with itself in view of duplicating loan portfolio and increased cost of deposits and the need to maintain separate capital adequacy for BoB Housing Finance.
The RBI is exploring ways to allow banks more flexibility in loan restructuring.
Among India's capital-starved local banks, Essar is viewed as too big to fail.
The Attorney General said that Mallya has not disclosed full details of his assets.
What was recovered from Bhajiawala family: Rs 1.45 crore cash, of which about Rs 1.05 crore was in new currency notes, bullion worth Rs 1.49 crore, gold jewellery valued at Rs 4.92 crore, other ornaments worth Rs 1.39 crore and silver ingots priced at Rs 1.28 crore.
The parents of Brazil forward Neymar have denied any wrongdoing after a judge froze 188.8 million reais ($47.6 million) of the player's assets in a tax evasion case.
The Shiv Sena is leading currently in terms of criminal candidates. Out of the 14 declared by them in the first list 12 have a criminal background, as per the Association for Democratic Reforms.
National Demorcatic Alliance ministry's list of assets is fairly wide -- from land and property to vehicles and, for quite a few, guns. Nivedita Mookerji reports
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