Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The total exposure of top 50 defaulters of PSBs as on December 2015 was Rs 1,21,832 crore.
To ease pressure due to the coronavirus lockdown, corporate have asked banks and the government for a six-month liquidity line, so that they can pay off their suppliers and employees.
SBI and other public sector banks have decided to lend Rs 4,000 crore to Patanjali Ayurved for the acquisition of Ruchi Soya, which was facing bankruptcy proceedings under the Insolvency and Bankruptcy Code. The money lent by banks will help the PSBs to settle their exposure to Ruchi Soya with a haircut of 65 per cent. Banks led by SBI and others had earlier made claims of over Rs 12,146 crore against Ruchi Soya after the company failed to repay its loans.
Among other demands, the unions are also seeking immediate introduction of five-day week in full and reduction of cash transaction hours and regulated working hours.
Cyber crimes in 2016-2017: 1,372 cases. Cost: Rs 423 million.
Shortly after the Reserve Bank of India cut its signaling rates and the announcement of stimulus package, leading lenders HDFC Bank and Union Bank of India on Monday reduced their benchmark prime lending rates (PLR).
Union Bank of India, United Bank of India reduced base rates.
Before taking such loans, compare the interest rates charged by various players, advises Sanjay Kumar Singh.
The proposal to increase public float, hike income tax surcharge, move to tax share buybacks and lack of stimulus to shore up economic growth has hurt investor sentiment.
Corporation Bank is the biggest beneficiary of this round of capital infusion with Rs 9,086 crore of funding, followed by Allahabad Bank with Rs 6,896 crore.
The CBI has initiated the action on the complaint of Bank of Baroda, which was a member of consortium led by Bank of India, which had approached the agency fearing that Kothari may flee the country like Nirav Modi and his uncle Mehul Choksi.
Against the targets, which were upwards of 25 per cent for players such as State Bank of India and Union Bank, these banks are showing sub-20 per cent growth. Now, SBI is willing to settle for up to 18 per cent credit growth by March-end, while Union Bank Chairman and Managing Director MV Nair said that overall bank credit was expected to grow at around 15 per cent.
To begin with, there would be the immediate integration of various technology stacks. This would create more business for global consulting and IT services entities such as KPMG, PwC, EY, Accenture and IBM, among others. Indian service providers - Infosys, Tata Consultancy Services (TCS), and Wipro, for instance - would also cash in.
Bank unions - officers and workmen - had buried their differences and sat across the table on August 29 to work out a fresh deal with the IBA involving a 20 per cent wage hike.
'Like doctors, health workers, police, bankers are also COVID warriors,' notes Tamal Bandyopadhyay.
At least two public sector banks Union Bank of India and Indian Overseas Bank have quietly increased interest rates on short-term deposits to raise resources and manage asset-liability mismatch. Union Bank has announced a special deposit scheme for 400 days, which offers 9 per cent interest. The scheme was launched much before the announcement of the monetary policy. Chennai-based Indian Overseas Bank has also raised rates for large deposits.
Mahindra MF, which began operations in July 2016, is currently a bit-player and placed 31 among 42 fund houses, with assets under management of about Rs 4000 crore
Between April and August, it issued request seeking LoC against 147 individuals to prevent them from leaving the country, the bank said in response to a Right to Information query filed by Pune-based activist Vihar Durve.
Various corporate houses and banks including TVS Motors, India Cements, Hyundai Motor India Limited and State Bank of India on Tuesday contributed a total of Rs 22 crore.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Today, the economy requires a certain amount of push not just from the monetary policy but also from its transmission: Das.
'The cost of funds has come down, which will lower lending rates'.
Union Bank of India, Canara Bank, Andhra Bank, Saraswat Co-operative Bank and YES Bank have come together to allow inter-bank fund transfers through debit cards.
Investors lost around Rs 1.57 lakh crore in market valuation on Friday.
The country's largest lender State Bank of India will get the largest sum of Rs 8,800 crore as government's capital infusion.
Among PSBs, the top gainers have been Union Bank of India and Corporation Bank, whose shares have rallied more than 15% each. Indian Bank and Bank of Baroda, too, registered double-digit rise
In the past few months, 45 companies have signalled their intent to raise money through the institutional placement route.
The biggest gainers in the Sensex pack in Friday's session were Yes Bank, Bharti Airtel, Tata Motors, Vedanta, SBI and Axis Bank, spurting up to 3.05 per cent. The losers included HCL Tech, TCS, Infosys, Hero MotoCorp, IndusInd Bank and Sun Pharma, falling up to 1.55 per cent.
The prosecution's pursuit of this tiny detail was because they believed the charge from Google, on Indrani's account, was to restore Sheena's Gmail account, via the Google account recovery toolkit, since Indrani did not have the password.
Banking shares are down up to 11% after the Reserve Bank of India has increased the policy repo rate by 25 basis points from 7.25% to 7.5% with immediate effect.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The first such interaction would be in Mumbai on Monday.
A Ganesh Nadar/Rediff.com attends Finance Minister Nirmala Sitharaman's presser in Chennai to tom-tom the government's achievements in its first 100 days in office.
United Bank of India has denied having defaulted to the tune of Rs 800 crore. It also dismissed any merger talk.
Firms sold $6.3 bn of bonds abroad in the three months ending March 31.
UV Asset Reconstruction Company Ltd has made the highest bid of Rs 16,000 crore to buy Anil Ambani group's Reliance Communications and Reliance Telecom, which are in the National Company Law Tribunal (NCLT). Last year it was the highest bidder for taking over Aircel's assets for an upfront payment of Rs 150 crore. Surajeet Das Gupta and Dev Chatterjee dig deeper to find out more about this little known company.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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