Finance News - Page 8

RBI surprise rate cut: ‘Let the party begin’ says the God of Mint Street

When an inflation-skeptic like Raghuram Rajan obliges you with an unexpected rate cut, it means he too is convinced that the tide has turned. The rate cut signals that the economy is now ready for growth

Rockstar Rajan's first rate cut: Decoding the surprise element

Rajan has been under pressure both from the government and industries to go for an early rate cut

Surprise move in middle of war against inflation: What experts said after RBI cut interest rates

The RBI cited lower-than-expected inflation, weak crude prices and weak demand, as well as the government's commitment to sticking to a fiscal deficit target.

Finance Ministry welcomes RBI rate cut, says it vindicates govt efforts

The finance ministry welcomed an inter-meeting rate cut by Reserve Bank of India (RBI) on Thursday.

Full Text: RBI cuts repo rate by 25 basis points citing lower inflation

Here's the full text of the RBI statement made after it reduced the repo rate by 25 basis points

Industrial output bounces back but UPA legacy is holding back real recovery

To make sure economic revival is real, thus, the Modi government and the central bank will have to work on both sides of the problem almost simultaneously

Watch out Vijay Mallya: SBI is readying to tag you wilful defaulter soon

SBI is currently in the process of reconstituting the grievance committee authorised to classify an account as wilful defaulter

India Post's focus should be inclusion, not universal banking; we don't need another PSU bank

If Postal Bank of India wants to become a full service bank and engage in corporate lending, it would, somewhat, be the creation of yet another public sector bank -- a puppet of the government to roll out its populist measures and feed corporate greed.

Banks may cut deposit rates further, but don't expect your loan rates to fall before March

Banks are unlikely to reduce their base rates in the same fashion and quantum they have cut their deposit rates

Mr Modi, forget about reforming PSBs unless trade unionism is addressed

Unless the governments steps into the picture and take meaningful steps to address the concerns of employees in state-run banks, the present scenario will continue

Bankers' meet: PM statement on autonomy clear signal of coming reforms

If Modi can ensure the legal changes, then one can be bullish on public sector banks for longer term

Jaitley is repeating Sinha, Chidu: To ring in autonomy govt must cut bank stake below 51%

Without government ceding the control, absolute autonomy for state-run banks will not happen

Stop it now: After RBI's Rajan, now PSU banks' heads speak up against farm loan waivers too

Andhra Pradesh and Telangana governments had declared loan waivers for the farmers hit by cyclone Phailin last year

If Modi wants to get savers off gold, he should try inflation-indexed FDs

You cannot wean people away from gold unless you offer at least one of its benefits - as an inflation hedge - in a new instrument. People don't like complicated inflation-indexed bonds. They may be willing to try fixed deposits

Memo to PM ahead of bank meeting: Sell off weak state-run banks, not merge them

Perhaps, Modi should take a lesson or two from Rajan before hurrying with the bank merger, if that indeed is a proposal

Crystal-Ball gazing: Why 2015 will be good for the economy & markets

Barring a few potential mishaps, the chances are 2015 will be better for the economy and hence the markets

Mr FM, cut flab, not muscle. Growth needs more plan spend, bank recap

Faced with a huge drop in tax revenues, the fiscal deficit target for 2014-15 will be missed without spending cuts. The finance minister is likely to cut plan spending. But he should be speeding plan spending and bank recapitalisation

RBI data belies optimistic govt data: More reforms needed to ring in 'achche din'

There is some good news and some bad news to welcome the New Year.

The Best Banks of 2014: Axis, Citibank and, surprise, City Union Bank

The Reserve Bank released performance parameters for 90 Indian and foreign banks a few days ago. Firstpost has used the same data and parameters to rank banks through a widely-accepted methodology. Here's what the numbers say.

Modi's gift for 2015: With ATMs and all, 'Post Bank' is readying itself to serve the poor

The entry of post to the scene can change the game in banking. May be, that’s the best gift Modi can offer to India’s poor in 2015

3 Modi mantras for PSU banks: less capital, more autonomy, productive staff

The PM the finance minister need to focus on making public sector banks guzzle less capital. This can only happen with autonomous management and more efficient staff.

Ahead of Modi's meet with bank chiefs, RBI report highlights systemic rot

Until the time government handholds these banks and micromanages them, it is unlikely that state-run banks will see any major change in the way they operate

Banks struggle with bad loans will worsen if economy falters further, warns RBI

If the recovery fails to materialize and the current conditions worsen, banks' GNPA level can worsen to 6.3 percent by March 2016

Banks reach target of 10 cr Jan Dhan Yojana accounts, but nearly 75% have no money in them

The government has listed PMJDY as an achievement of the finance ministry in the last six months

Vijay Mallya’s relief on wilful defaulter tag may not last beyond a fortnight

Once clarity emerges, other banks too will tag Kingfisher and Vijay Mallya wilful defualters

ING Bank staff want job safety post merger with Kotak, plan strike on 7 Jan

The ING Vysya Bank unions also made allegations against the senior management about money laundering and granting housing loans with high leverage

HC order on Mallya's wilful default will warm cockles of crony capitalists

The Calcutta High Court rejected the UBI's decision to call Vijay Mallya a wilful defaulter on a technicality. If courts are going to go by mere technicalities to delay banks from recovering their dues, only crony capitalists will celebrate

For state-run banks, delayed economic recovery would mean more pain from restructured loans

The time is perhaps right for the government to look at privatising some of the state-run banks

RBI's credibility loss: It's wrong to blame Subbarao alone; UPA is equally responsible

The monetary authority did not have any support from the fiscal authority, when Subbarao headed the central bank

Rate cut: Raghuram Rajan's inflation fight gets support from the North Block advisor

If the change in language in the economic review represents the overall thought-process in the finance ministry, it augurs well for Rajan and his team