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'Opposition looking to form majboor govt but citizens want majboot leaders': Narendra Modi at BJP national convention
Politics

'Opposition looking to form majboor govt but citizens want majboot leaders': Narendra Modi at BJP national convention

On the second and last day of the BJP National Convention in New Delhi, Prime Minister Narendra Modi launched attacks on the Congress and other Opposition outfits over various issues, including the Rafale deal and the Ayodhya issue.

Crisis to crimp operating profits of NBFCs by up to 0.5%; non-bank lenders build extra liquidity buffers to tackle crisis: Study
Business

Crisis to crimp operating profits of NBFCs by up to 0.5%; non-bank lenders build extra liquidity buffers to tackle crisis: Study

As the going gets tough, all the NBFCs have started building extra liquidity buffers, which will narrow the net interest margins by up to 0.15 percent, thereby impacting the profitability, it said.

RBI's New Year gift to MSME sector: Central bank allows one-time restructuring of loans up to Rs 25 cr
Business

RBI's New Year gift to MSME sector: Central bank allows one-time restructuring of loans up to Rs 25 cr

The decision will help the micro, small and medium enterprises (MSMEs) which are facing cash crunch in the wake of demonetisation and GST implementation.

Religare approaches Corporate Ministry with complaint against Singh brothers, ex-chairman Sunil Godhwani
Business

Religare approaches Corporate Ministry with complaint against Singh brothers, ex-chairman Sunil Godhwani

Earlier on Wednesday, Religare Finvest lodged a criminal complaint with the Economic Offences Wing (EOW) of the Delhi Police against the Singh brothers.

Arun Jaitley says government does not need RBI funds in next six months, Centre keen to gain control over bank reserves
India

Arun Jaitley says government does not need RBI funds in next six months, Centre keen to gain control over bank reserves

Critics accuse the government of trying to undermine the RBI's authority, but Arun Jaitley said the BJP-led government respected the institution’s independence.

Pakistan cuts CPEC investment in railways by $2 billion; railway minister says Islamabad 'cannot afford' huge burden of loans
India

Pakistan cuts CPEC investment in railways by $2 billion; railway minister says Islamabad 'cannot afford' huge burden of loans

The announcement gives credence to reports that the Imran Khan government intends to scrutinise the $62 billion CPEC infrastructure and power projects,

IL&FS fiasco singeing mutual fund investors: What happened to fund houses’ much-vaunted research capabilities?
Business

IL&FS fiasco singeing mutual fund investors: What happened to fund houses’ much-vaunted research capabilities?

That IL&FS would default to its bondholders could have been easily ferreted out had the fund houses upped their ante on the back of their famed research capabilities.

Ratings agency Moody's Investor Services agrees to pay $16 mn to settle SEC charges over flawed credit ratings
Business

Ratings agency Moody's Investor Services agrees to pay $16 mn to settle SEC charges over flawed credit ratings

According to the SEC, Moody's failed to establish and enforce proper internal controls for models used to rate mortgage-backed securities between 2010 and 2013.

Google for India: Digital payment app Tez has now been renamed as Google Pay
News & Analysis

Google for India: Digital payment app Tez has now been renamed as Google Pay

At the moment, nothing is changing about the experience in India other than the name to Google Pay.

NPA crisis: RBI sticking to its deadline is fine; it means the days of compromise are over but courts still have final word
Business

NPA crisis: RBI sticking to its deadline is fine; it means the days of compromise are over but courts still have final word

The fact remains that the NPA issue has ballooned over the years and even today one is not sure if all of them have been recognized and provided for.

Bad loans issue: Raghuram Rajan called by Parliamentary panel to brief on mounting NPAs
Business

Bad loans issue: Raghuram Rajan called by Parliamentary panel to brief on mounting NPAs

The banking sector is grappling rising NPAs which touched Rs 8.99 trillion or 10.11 percent of the total advances at December-end 2017.

Root cause of NPAs is mega PSB loans: With funds distributed in dollops, reforms to sanctions will bode well for the sector
Business

Root cause of NPAs is mega PSB loans: With funds distributed in dollops, reforms to sanctions will bode well for the sector

Bank loans are not meant for big ticket borrowers and the government should shut the PSB doors to loans to big industrial houses.

Public sector banks account for 85% of over 6,500 bank fraud cases: RBI
Business

Public sector banks account for 85% of over 6,500 bank fraud cases: RBI

Financial Stability Report, according to a Economic Times report. The top 10 banking frauds in 2018 lead to a financial loss of Rs 10,000 crore

Narendra Modi to inaugurate third AIIB annual meet in Mumbai today: All you need to know about China-led bank
World

Narendra Modi to inaugurate third AIIB annual meet in Mumbai today: All you need to know about China-led bank

Monsoon rains notwithstanding, the two-day meet will host policy makers, ministers, participants from partner institutions, the private sector and civil society.

In letter to Piyush Goyal, Devendra Fadnavis asks Centre to direct all Maharashtra banks to fast-track crop loan disbursal
India

In letter to Piyush Goyal, Devendra Fadnavis asks Centre to direct all Maharashtra banks to fast-track crop loan disbursal

Devendra Fadnavis wrote a letter to the Centre, demanding that all banks be directed to expedite the process of disbursing crop loans to farmers.

RBI ups repo rate to 6.25% after four-and-a-half years; get ready to pay more on your home, auto loans soon
Business

RBI ups repo rate to 6.25% after four-and-a-half years; get ready to pay more on your home, auto loans soon

The RBI's decision to hike the repo rate will soon impact the common man, as banks will start raising their lending rates.

RBI has not taken banks to task for customer unfriendly practices, says AIBEA, NGOs
Business

RBI has not taken banks to task for customer unfriendly practices, says AIBEA, NGOs

Over the years, the RBI has remained silent on several anti-depositor actions of banks, according to a Memorandum signed by All India Bank Employees' Association along with NGOs.

The great Indian banking circus: A guide on how to use the Aam Aadmi and Mr Fraud counters
Business

The great Indian banking circus: A guide on how to use the Aam Aadmi and Mr Fraud counters

The common man’s role in this saga is to pay taxes on time to help refuel banks, so that lenders don’t run out of funds to feed Mr Fraud.

PNB Rs 11,000-crore fraud: Bank took 7 years to detect Nirav Modi scam; is another Vijay Mallya in the making?
Business

PNB Rs 11,000-crore fraud: Bank took 7 years to detect Nirav Modi scam; is another Vijay Mallya in the making?

The nature of the Punjab National Bank fraud is such that there may not be a big direct fund exposure to the alleged fraudster.