Tata Capital, the financial services arm of the country’s largest business house, is sticking to its 25-30% growth target for FY19 despite the turbulence in the non-banking financial companies’ sector (NBFC).
"It is far below our expectation. We have urged upon them to improve their offer," said Rajen Nagar, president at All Indian Bank Employees Association.
Gurumurthy, who joined the RBI in August, is now one of the country's most influential economic voices.
UIDAI said the matter has been carefully examined, and the apex court has upheld the constitutionality of the Aadhaar programme, specifically Section 7 of the Aadhaar Act.
Banks had however lent support to NBFCs by purchasing loan portfolio from them to help them tide over in liquidity crunch.
Union Food Processing Minister Harsimrat Kaur Badal termed food processing as "golden sector" and said India has the potential to become world food factory.
The bank's board on January 13, 2018 had approved a composite scheme of amalgamation of Capital First, Capital First Home Finance and Capital First Securities (collectively referred as amalgamating companies) with IDFC Bank.
Fresh credit to deposit ratio is at 122% as of November 9, compared with 90% a year ago, show the latest data from the Reserve Bank of India (RBI).
NCLT took action following a petition filed by operational creditors to the company and appointed an interim resolution professional, prompting the financial creditors led by State Bank of India to swing into action.
Monitoring committee will petition NCLT to seek more time to look for new takers, among other options.
In addition to an increase in the MCLR, the spread over MCLRs for various categories of loans is also going up, resulting in an increase in the overall rates in the banking system.
Seven Indian workers from infrastructure financing firm IL&FS, which rocked financial markets after it began missing debt payments in late August
Exporters get the subsidy under the 'Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit'.
While issuing the guidelines in May this year, the RBI had said the date of its implementation would be notified in a due course.
The proposed transaction values SBI GI at over Rs 12,000 crore. The deal is subject to regulatory approvals, said SBI.
The private sector lender will recommend the name of new chairman for approval by the RBI after the meetings of the Nomination and Remuneration Committee (N&RC) and the board of directors scheduled for December 13.
The RBI has eased norms for NBFCs to sell or securitise their loan books, in a bid to ease stress in the sector.
There were widespread opposition to the decision with political parties terming it a move to curb J&K's financial autonomy.
According to a RBI July 6, 2017 circular, banks must have registered mobile number of their customers for SMS alerts for electronic banking transactions like internet and mobile banking.
Covenants suggest that the value of Yes Bank shares be at least Rs. 1,890 crores, according to transaction summary provided by Templeton.
Currency in circulation has dipped Rs 11,365 crore since the Diwali week when it reached a peak of Rs 20.2 lakh crore to Rs 20.1 lakh crore as of November 23, according to the latest figures released by the RBI.
The renewable assets of the group include operating wind power plants with an aggregate capacity of 873.5-mw, and under-construction wind power plants worth 104 mw capacity.
The bank also set a target on consumer loans to grow by 50 per cent in financial year 2018-19 to Rs 5,000 crore, ICICI Bank, Executive Director, Anup Bagchi told reporters here.
The private sector lender, which is grappling with governance as well as NPA issues, has seen resignations of three independent directors, including Chairman Ashok Chawla.
As per the news report, the problem is so intense that apart from the new Rs 2,000 and Rs 500 notes, new Rs 10 notes issued in 2018 are also becoming 'unusable'.
An application by the State Bank of India that ET has reviewed said it was approaching the tribunal as the Dhoots did not respond to a guarantee invocation notice sent to them.
NBFCs can take a leaf out of Darwin's theory that it’s not the strongest but the most adaptable that survives.
it is not unusual for a central bank to transfer a part of its profits to fiscal accounts — if a government so desires, says James McCormak.
The deal would help the insurance behemoth to enter the banking space and would provide business synergies despite the IDBI Bank's stressed balance sheet.
The plan submitted to the NCLT also hinted at non-transparent and illegal transactions by the previous management in selling a group entity in June 2017.
RBI will have to come with a plan to prevent banks accumulating bad loans rather than just penalizing them.
In his new role, Khandelwal will guide Elysium to strengthen existing business lines and help taking informed strategic decisions to pursue new growth areas.
The interest payment on both NCDs were due on November 26, the company said in a filing to the exchanges.
The government earlier this year pumped Rs 11,336 crore in five PSBs -- PNB, Allahabad Bank, Indian Overseas Bank, Andhra Bank and Corporation Bank -- to improve their financial health.
To make sure sudden defaults don't occur at big companies, the government will use artificial intelligence to sniff out risky companies.
Such lenders are competing with the likes of ICICI Bank and HDFC Bank for home loans and car loans, wresting market share.
The bank recapitalisation requirement may undergo a change if the yields get reduced further; mark-to-market provision may come down, said Garg.
Munich Re to exit after the deal. Apollo will own a small stake in the merged entity with HDFC Ergo
The IL&FS saga aptly underscores India’s lack of preparedness to handle the big shift in lending.
The bank has invited expressions of interest (EoIs) from ARCs for the sale of its non-performing assets (NPAs) by November 30, according to the tender document.
Another impact which the secretary highlighted was the conversion of NPA accounts in standard accounts by virtue of the borrowers making payments that were overdue.
Digital lenders are set to see operational costs increase as they will no longer be able to use a completely paperless model for automated collection of loan payments from customers.
The Reserve Bank began to place state-run banks under PCA framework first time in September 2016, when their NPAs soared beyond the regulatory tolerance levels.
The State Administrative Council (SAC) which met in Jammu Thursday evening under the chairmanship of Governor Satya Pal Malik approved the proposal for treating the J&K Bank Limited as a PSU, the official said.
The statement comes a day after the Confederation of ATM Industry (CATMi) said changes in the regulatory landscape are making it unviable to operate ATMs
In the previous fortnight ended October 26, 2018, credit had grown by 14.57 per cent to Rs 90.37 lakh crore, while deposits rose by 9.01 per cent to Rs 117.71 lakh crore
According to a communique issued by Axis Bank to Axis Capital Mehta had been asked to proceeds on leave, sources said.
The company also said it would expand its branch network 236 by the end of this year from the current 216 branches.