Finance News - Page 18

India in talks to simplify foreign investment process: RBI

On Wednesday, Reuters reported India was considering joining Euroclear, the world's largest securities settlement system, with the condition that only long-term foreign investors trade Indian government debt for now.<br />

Full Text: Raghuram Rajan explains why crony capitalism persists in India

Earlier this week Reserve Bank Governor Raghuram Rajan came out strongly against "crony capitalism", saying it kills transparency and competition and hence is harmful to free enterprise, opportunity and economic growth.<br />

Merging weak banks could create bigger problem for economy, says RBI chief Rajan

Rajan said that if two unhealthy banks are merged, the created entity will also be unhealthy and it could create a bigger problem in the economy.<br />

Public sector bank chief appointments: Why the rot runs a lot deeper

Bankers accepted money for wrongdoings through middlemen. In several cases bankers either offered loans to corporations violating prudential norms or facilitated illegal transactions involving huge amounts.

SBI, PNB, IDBI to begin process to declare Kingfisher Airlines wilful defaulter

Vijay Mallya-promoted Kingfisher Airlines has an outstanding debt of about Rs 4,022 crore to a consortium of banks, led by SBI. <br />

CBI finds foul play in Jain's appointment as Syndicate Bank chief

The Central Bureau of Investigation (CBI) on Tuesday said it has found irregularities in the appointment of S K Jain as the chairman and managing director of Syndicate Bank during the regime of United Progressive Alliance government, marking a significant turn in the Syndicate bank bribery case.<br />

RBI probing over 34,000 NBFC firms for running with authorisation: govt

The Reserve Bank is looking intoparticulars of more than 34,000 firms allegedly runningbusinesses on lines of Non-Banking Financial Companies

No revival in sight: More companies fail to regain financial health despite loan recasts

Analysts expect a quarter of the total restructured loans to turn bad in the absence of economic revival

Banks need not report individual purchases of overseas immovable property: RBI

Earlier in June this year, RBI had raised the remittance limit for individuals to $125,000 per year from previous limit of $75,000 and later on eased it further by allowing the use of same for buying immovable property overseas.<br />

Syndicate bank bribery case: Three accused sent to judicial custody till 25 Aug

Accused Vineet Godha, Puneet Godha and Vijay Pahuja were produced before the court after expiry of their police custody and the agency moved an application saying they be remanded to judicial custody.

Rs 40,000 cr question: Why banks were so eager to overlook the mess at Bhushan Steel

The reasons for Bhushan Steel's financial ill-health were not necessarily attributable to genuine industry issues

SBI's profit grows first time in 6 quarters to Rs 3,349 cr; surprises street

Net interest income of the bank increased 15 percent to Rs 13,252 crore

Banks' bad loan addition slows in April-June; bankers hopeful of revival

With a stable government at the centre and positive growth indicators, bankers are expecting a reversal in the bad loan scenario

Syndicate Bank is no one-off: Dear Rajan, here's what you must do to clean up public banks

Here are three fundamental factors that could lead to Syndicate Bank-like instances in other government banks.

Global markets at risk of crash when world less capable of bearing cost: RBI Gov Rajan

The former chief economist at the International Monetary Fund compared the current global markets to the 1930s - a period marked by the Great Depression.<br />

IDBI Bank Q1 net down 66% on lower interest income, bad loans; shares plunge

Net interest income, the core income of the lender, fell by 15 percent to Rs 1,250 crore

Decoder: What RBI's Raghuram Rajan is saying by keeping interest rates steady

Rajan's message is one of calm caution. He believes things are moving in the right direction, but does not want to act prematurely and make a fool of himself in case CPI gets out of hand again

Inflation still a threat: RBI keeps key rates unchanged, cuts SLR by 50 bps

The RBI move is in line with market expectations

Possible steps Raghuram Rajan can take today: What to expect from RBI policy

A status-quo in the key lending rate is the most likely outcome of today's policy according to majority of the economists

New bill gives Sebi teeth to tackle ponzi schemes, ensures speedy trials

The Securities Laws (Amendment) Bill, 2014, aims to empower capital market watchdog Securities and Exchange Board of India (Sebi) by giving powers such as authority to seek call data records.<br /> <br />

Beyond Syndicate Bank: Officials at these banks also bent laws to help rich clients

This isn't the first time the top executives at state-run entities have been charged in graft cases. Here are some of the other past instances where top executives from government-owned corporations had run-ins with the law.

Syndicate Bank fallout: Corporate lending to take a hit as fear grips state-run banks

The development could result in a significant slowdown in bank lending to corporations in the coming months

Vijay Mallya to Vinod Kambli: How Syndicate Bank-like scams can be avoided

We have mollycoddled industrial loans long enough. It is time we read the riot act to our industrialists. Jaitley does not have to legislate afresh. He must ask banks to dust up Securitization Act, 2002.

Lower provisions boost Union Bank April-June earnings; but stress on the rise

The jump in net profit cheered investors who pushed up the shares of Union Bank 7.03 percent in the intraday

Open 7.5 cr accounts in a year: Jaitley tells state-run banks

Some of the bankers, who met Jaitley in Delhi, said the target is as "uphill" task to achieve in a period of one year and there are cost implications on rolling out such large number of accounts in rural areas

Andhra bank to issue Rs 1000 crore infrastructure bonds

Money raised through such bonds will be used to fund infrastructure projects and affordable housing projects in the country.

Decoding the bad loan trend of banks: There's more than meets the eye

In the absence of an economic boost and timely removal of structural bottlenecks, there is a clear danger of bad loans emerging from the restructured loan pile.

ICICI bets on retail loan growth, says corporate recovery still a few quarters away

ICICI Bank posted a net profit of Rs 2,655 crore in April-June beating an estimate of Rs 2,573 crore forecast by analysts in a CNBC-TV18 poll.

ICICI Bank beats street with 17% rise in net profit despite spike in provisions

The bank's provisions witnessed a sharp 22 percent jump on year

Modi invokes imaginative powers of aam aadmi to liven up BJP's mega financial inclusion plan

The government is making preparations on war footing to push its mega plan of distributing 15 crore free bank accounts with benefits to unbanked citizens in the far-flung areas of the country.<br />