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Finance News - Page 17
Risk reduction: Sebi introduces new settlement guarantee safety net
The new system would enhance the robustness of the present risk management system of the clearing corporations to enable them to deal with defaults of the clearing members much more effectively
Indian mutual funds rope in KPMG to comply with new US tax law
FATCA, which took effect from July 1, may have significant implications for Indians residing in the US and investing in products offered by the Rs 10 trillion Indian mutual fund industry.<br />
Don't waive off farm debt: RBI gov Raghuram Rajan warns states
Rajan was addressing the chief secretaries from 15 states and finance secretaries of 27 states and nine Union Territories
Working on definition of deposits for financial entities, says RBI
Reserve Bank of India Deputy Governor R. Gandhi said on Monday that the central bank is working with the finance ministry on the definition of deposits for financial entities beyond banks.
Syndicate Bank scam: Can CBI unravel the dealings of Pawan Bansal, Altius Finserv?
The CBI has begun a probe into the functioning of Pawan Bansal and Altius Finserv in the Syndicate Bank scandal. Here's a look at the rise of Bansal from a fixed income specialist to the man who corporates turned to for loans.
Syndicate Bank scam: Criminality a major reason for current bad debt pile of lenders
The element of criminality in a banking transaction ultimately hits the banks, which are guardians of tax payers' money
Borrow less, don't blame RBI: Time Jaitley stops doing a Chidu on us
The thing with most politicians is that either they do not understand how a market operates or they pretend otherwise.
Dear Jaitley, to instil professionalism in public sector banks, stay away from them
At present, the finance ministry plays a big role, not necessarily a constructive one, in the operations of public sector banks
Decoding RBI annual report: Killing inflation only way to achieve sustainable growth
The RBI has embraced inflation-targeting as its central policy stance even though Rajan is yet to openly admit that
Why Arun Jaitley should no longer shun the P word - privatisation
The rise in public sector bad loans and the recent scams involving fraud at Syndicate Bank, Dena Bank and Oriental Bank of Commerce, the Modi government should not longer shun the P word - privatisation
Axis Bank to raise Rs 6,000 cr from bonds to fund its business growth
The board has approved issuance of long term bonds or non-convertible debentures.
RBI vows to continue inflation battle; says upside risks persist
The Reserve Bank of India (RBI) on Thursday said the upside risks to inflation, which has been the focus of its monetary policy, still persist.
RBI sees growth rising to 5-6% in FY15: Highlights from its annual report
Here are the highlights from the annual report released by the central bank today.
Andhra budget silent on farm loan waiver, Naidu may have no escape from his trap
Naidu is riding a tiger and it is difficult to get off unless some miracle happens, in the form of assistance from the Centre.<br />
RBI issues guidelines for NBFCs on lending against shares
With an aim to curb volatility in capital market, the Reserve Bank today asked NBFCs to maintain a loan-to-value (LTV) ratio of 50 per cent in case of lending against collateral of shares.
Decoding Dena, OBC deposit scams: Why top level bankers can't go scot-free
About Rs 436 crore is involved in the financial irregularities in these two banks. In a damage control exercise, both banks have suspended or transferred the 'erred' staff.<br />
Bhushan Steel to Dena Bank: Raft of loan scams could gum up works for banks, corporates
With CBI, enforcement agencies, and the Supreme Court now energetically pursing bank and other scams, the Modi government has to act proactively to prevent another paralysis in decision-making
RBI surplus falls to Rs 52,679 crore in FY14, transfers entire sum to govt
The surplus paid by the RBI for 2012-13 to the government was Rs 33,100 crore and this year's transfer was the largest ever by the central bank.
RBI Act must be changed to appoint COO, says FinMin official
Financial Services Secretary GS Sandhu was reacting to recent media reports that RBI Governor Raghuram Rajan was looking to establish a COO position
Govt drafts rules to give FMC more teeth to regulate intermediaries
Among the guidelines, the Finance Ministry has proposed to strengthen the Forward Markets Commission (FMC) with the power to cancel, suspend and debar the registration of an errant intermediary.<br />
Finance Ministry may give UTI Mutual Fund IPO in principle approval soon
Government has stake in the UTI Mutual Fund through public sector banks and insurance companies. State Bank of India, Punjab National Bank, Bank of Baroda and LIC hold stake in UTI Mutual Fund on behalf of the government.<br />
Splitting bank CMD posts before board empowerment is like putting cart before horse
In the absence of a strong bank board, there are chances of political influences playing a part in the appointments of critical posts in public sector banks, experts warn.
Syndicate Bank scandal fallout: Govt could split CMD post in PSU banks
In an attempt to bring in accountability to the positions, the government is likely to transfer MDs if banks fail to perform.<br />
Female bank employees to soon get transfer postings of choice
The Finance Ministry has asked the banks to formulate women-friendly transfer policies so that they can get transfers at places where their husbands are working or parents are living.<br />
Making ATM transactions expensive: Is RBI contradicting its own stance?
By suddenly making ATM transactions expensive, the RBI has broken the process of gradual transition to paperless banking and is sending people back to the congested bank branches to withdraw money.
Not just judges: It's time to reform appointments of auditors too
What is needed is a roots and branches reform of appointment of auditors - appointment through blind referencing, as it were.
Free transactions in other bank ATMs cut to 3 per month from 5
The Reserve Bank of India reduced free usage of other bank automated teller machines (ATMs) to three per month from five
United Bank posts rise in net profit; bad loans inch up to peak levels
United Bank of India managed to post a growth in net profit for the quarter, although the numbers were hit by a sequential rise in the provisions and weak growth in the net interest income.
Rajan's advice to Jaitley: Merging weak PSU banks with strong ones is a recipe for disaster
It is better to treat stress associated with each banks separately. Consolidation can happen in the cases of stronger banks, where, as Rajan said, there will not be any problems to fix other than the merger itself.<br />
Dalit-run firms starved of funds as banks fight shy of lending to medium sector
Small firms are facing stress, despite the current norms laid out by the Reserve Bank of India (RBI) requires banks to mandatorily lend a specific chunk of their total loans to such companies.