The Direct Benefits Transfer pilot for subsidised foodgrains in Nagri block has, ironically, led to a quantum jump in cash transactions, inconveniencing beneficiaries and dealers as also putting enormous pressure on banks, even as 25% people still remain excluded.
According to ex-employee Nitin Balchandani, ICICI Prudential had filed an FIR against him in April 2016 to pre-empt him to “shut his mouth”.
In a statement, the central bank clarified that it puts into circulation the coins minted by government mints.
In India, there is an unmet market need for such products. Why can’t it come in the category of another financial product aimed at a niche audience?
It is unethical on the part of public sector banks to extract a penalty from financially weaker account holders while writing off huge loans to corporate customers, says the Centre for Financial Accountability.
The World Bank’s chief economist said he would recalculate national rankings of business competitiveness going back at least four years.
A bail-in should never be carried out as a means of complying with BASEL norms. Recent news of bank NPAs and recapitalisation of public sector banks through bailouts – whether it is through budgetary allocation or the issue of bonds – has evoked much debate. The failure of […]
Despite the fears of the public over the ‘bail-in’ clause, the FRDI Bill is an impending necessity in the context of global financial reform.
The amount surpasses the bank’s second quarter net profit of Rs 1,581.55 crore.
A strange picture of India’s financial system is being drawn, where privatisation is being pushed even as critical analysis and reporting on private sector entities is slowly being discouraged.
Cryptocurrencies are not legal tender and have no regulatory permission or protection in the country, the finance ministry said in a statement.
‘Jan Gan Man Ki Baat’ Episode 171: Modi’s ‘New India’ Dream and Allegations of Fraud Against ICICI Bank
Vinod Dua discusses Modi’s ‘New India by 2022’ claim and Rajasthan police’s special operations group’s investigation against multiple ICICI bank officials for misleading customers and violating IRDAI norms.
An enquiry has revealed that lender’s leaked earnings closely match with actual figures; the regulator has asked Axis Bank to conduct an enquiry and submit a report within three months.
Rajasthan’s state police special operations group is investigating multiple company officials for misleading customers and violating IRDA norms.
LPG subsidy payments worth Rs 190 crore was allegedly routed to over 30 lakh Airtel payment bank accounts, with some of the accounts even having been opened without informed user consent. How did this happen?
While stakeholders within the system have complained that the rules may hurt clean bidders too, the insolvency and bankruptcy board appears in no mood to review the ordinance.
Tuesday’s notification is in line with the Centre last week informing the Supreme Court that it is willing to extend till March 31 the deadline fixed for mandatory linking of Aadhaar to avail various services and welfare schemes
As India and the rest of the world hurdles from one banking crisis to the other, we look to bail-outs and now bail-ins as solutions. We need to go beyond this and adequate equity capital is the answer.
The decision to stand pat was widely expected after the annual rate of consumer inflation increased in October to 3.58%, driven by higher food and crude oil prices.
According to banking sector experts, write-offs help bring down their tax burden.
More distressed debt private equity funds focused on India have raised more money in the last few months than in the last ten years put together.
According to Venkatesh Nayak, the new system is being implemented without talking to stakeholders and will make political funding even more opaque.
The recapitalisation package of Rs 2.11 trillion is not sufficient to cover additional capital of Rs 2.82 trillion required by public sector banks, let alone providing them headroom to grow their advances.
As India Rushes Towards Digital Money, Are We Doing Enough For the Elderly and Those With Disabilities?
A recent RBI circular reminds us that digital banking, welcome as it is in the overall context, does not benefit all sections of society equally.
Most cashless modes saw growth spike in the immediate months after demonetisation but subsided in the following months.
Years of political instability and economic mismanagement under the rule of ZANU-PF have left Zimbabwe’s financial system in chaos.
The way the Banks Board Bureau has been allowed to function so far does not create much hope for reforms.
While the government needed to kick-start growth and private investment, it is absolutely essential that promoters of defaulting corporate groups don’t end up laughing all the way to the bank.
While it will almost certainly impact the fiscal deficit, this needs to be accompanied by an aggressive recovery of loans so that moral hazard doesn’t set in.
The central bank thus dismissed reports claiming it was not necessary to link national identity card numbers to bank accounts.
The total stressed loans of the banks – including non-performing and restructured or rolled over loans – rose 4.5% in the six months to end-June.
The RBI also kept the reverse repo rate unchanged at 5.75%.
Although Roopa Kudva quit the bank transparency body in July 2017, there has been no public intimation of this development.
Last month, the SEBI had directed listed companies to disclose from October 1 any payment defaults to banks and financial institutions within one working day of such a miss.
State governments are building land banks, using both private and common lands, to attract investment in manufacturing and infrastructure, but at the cost of people’s rights.
Over the last five years, wilful defaults have risen by over Rs 84,000 crore, according to data put out by credit rating agencies.
It’s not easy to defend a failing flagship policy, especially when the central premise is shaky. When the foundation is built on wishful thinking, the supporting ‘evidence’ is bound to stray into fiction too.
Obese banks are generally unhealthy for the economy. But the government is happily fattening banks thinking they are becoming “stronger” in the process.
Former RBI head says he warned of the potential pitfalls if preparation was not adequate, concludes that demonetisation has not been an “economic success”.
Former finance minister P. Chidambaram also questioned the Narendra Modi government whether its demonetisation decision was designed to convert black money into white.