Globally, the promotions this year are reflective of the firm’s strategic priorities, including investments in core businesses (investment banking division and global markets); growth strategies (asset management, consumer and engineering); and strategic locations (particularly Bengaluru, Salt Lake City and Dallas), the company said.
“I do not know the facts of the case but, based on what I have read, we really need to have a criminal justice system which protects bona fide actions by bankers for recovery of their money,” said veteran banker Uday Kotak, adding that there has to be a method by which that action has to be protected.
LRD is a globally popular credit instrument offered against rental receipts. This will likely ease the funds crunch in the real estate sector, hit hard by the pandemic. The bank will be setting up a separate team and infrastructure for this service line.
The Department of Personnel & Training circular, published about a couple of months ago and after the arrest of Bank of Maharashtra executives in another NPA case, had laid down standard operating procedures (SOPs) for action against government officials
The due process of law would have to be followed and there is very little the government can do, people privy to the development said.
Banks to include climate risk as part of risk management policy. IBA to coordinate for a common framework.
The group estimates resolution of the remaining nearly Rs 4,000 crore debt across 97 entities to move beyond March 2022 and thus achieve its overall debt resolution estimate of Rs 61,000 crore.
He also urged them to continue providing necessary support as the revival is still fragile.
The RBI-appointed committee also recommended that the minimum net owned funds requirement for asset reconstruction companies should be doubled to two billion rupees.
A bank is generally placed under the framework based on the audited annual financial results. However this does not bar RBI from imposing restrictions on any bank during the course of a year in extreme cases.
The mortgage lender said it would also be evaluating other alternatives to raise capital. Its capital adequacy ratio stood at 20.7% at the end of September, higher than regulatory stipulation of 15%. “The primary objective is to raise capital to support the growth of the company,” the company said.
Banks need to be agile and creative to stay ahead of the digital curve, but banks will have to align their products in compliance with existing laws and regulations.
Similar outreach programmes were held between October 2019 and March 2021 by banks and fulfilled all kinds of credit requirements of the RAM sector (Retail, Agriculture and MSME).