Banking Sector

Surprise Twist In Karnataka Elections Deflates Sensex Rally: 10 Points

Business | NDTV Profit Team | Tuesday May 15, 2018

The Sensex and Nifty ended flat today amid uncertainty over government formation in Karnataka. Though the BJP has emerged as the biggest party in the Karnataka elections, it is still short of majority, according to the latest trends. The Congress is making a bid to form a coalition government and has quickly arrived at an understanding with former ...

Fear Psychosis Among Banks Pushing Companies Into Liquidation: Report

Business | Anto Antony, Bloomberg | Tuesday May 8, 2018

Current and former top bankers from at least four state-run lenders are under investigation for alleged impropriety over their lending decisions, while the Central Bureau of Investigation has started a preliminary inquiry into an alleged nexus between Videocon Chairman Venugopal Dhoot and the spouse of ICICI Bank Ltd.

Third-Largest Economy "Systematically Dismantled" Says Manmohan Singh

Karnataka News | Reported by Maya Sharma, Edited by Anindita Sanyal | Monday May 7, 2018

Former Prime Minister Manmohan Singh, one of the world's best known economists, today accused the Narendra Modi government of 'systematically dismantling" Indian economy, the third largest in the world. The " virtuous intentions" of the Narendra Modi government has caused the country massive losses due to "lack of reasoning and analysis", he told t...

Spike In Withdrawals, Not Enough Deposits Caused Cash Crunch, Data Shows

India News | Edited By Aloke Tikku | Wednesday April 18, 2018

A spike in cash withdrawals from banks over the last fortnight that people did not deposit into the banking sector has contributed to the cash crunch faced in several parts of the country, official statistics accessed by NDTV has indicated. This increase, finance ministry officials said, had led to a mismatch between the availability of cash and de...

RBI Governor Asked To Appear Before Parliamentary Panel On Bank Scams

India News | Edited by Debanish Achom (with inputs from PTI) | Tuesday April 17, 2018

A parliamentary panel has asked Reserve Bank of India Governor Urjit Patel to appear before it on May 17 to clarify on recent banking scams, people familiar with the matter said. The standing committee on finance, headed by Congress leader M Veerappa Moily, today raised queries about the banking sector with financial services secretary Rajiv Kumar

'Rs 4 Lakh Crore Bad Loans Have Returned Due To Insolvency System'

Business | Indo-Asian News Service | Wednesday April 4, 2018

The figure was revealed by Corporate Affairs Secretary Injeti Srinivas.

Rs 2.4 Lakh Crore Loans Written Off In Over 3 Years, Mamata Banerjee Slams Government

Business | NDTV Profit Team | Wednesday April 4, 2018

"I am shocked to see that at a time, when the farmers in the country are crying and committing suicide for their loan burden and asking for waiver of farmers' loan, the Government of India have not even considered that," West Bengal Chief Minister Mamata Banerjee said.

Small Savings Interest Rates Kept Unchanged For June Quarter

Business | Press Trust of India | Wednesday March 28, 2018

The move is aimed at matching the hardening interest rates in the banking sector.

Bonds May Bruise State Banks By Rs 20,000 Crore In Q4, Says Credit Suisse

Business | Thomson Reuters | Wednesday March 7, 2018

Credit Suisse estimates that state banks hold on an average of about 10% more sovereign bonds than required by regulations.

Parliament Budget Session Highlights Updates: Multiple Protests Disrupt Lok, Rajya Sabha

India News | NDTV News Desk | Wednesday March 7, 2018

On day two, today, the Lok Sabha will debate cases of fraud and scams in the banking sector under Rule 193 which does not entail voting at the end of the discussion. The Congress has demanded that Prime Minister Narendra Modi make a statement in Parliament on steps being taken by him to bring back the accused in bank frauds, and alleged that the pe...

Opinion: How To Fix Banking Crisis, Stop Nirav Modi-Like Scams

Opinion | Yashwant Sinha | Monday March 5, 2018

The banking sector is the lifeline of the economy which will grow only if banks lend money to promoters for making fresh investments for genuine projects, specially in the private sector.

PNB Fraud Set To Rock Parliament, Congress To Talk To Other Parties

India News | Press Trust of India | Wednesday February 21, 2018

The multi-crore PNB bank fraud and the Rotomac issue is set to rock the second leg of Parliament's budget session with the Congress saying it would talk to other like-minded parties and demand answers from the government on the state of the banking sector in the country.

Nirav Modi Fraud: Government Seems To Blame PNB; RBI Panel To Probe Such Incidents

Business | NDTV Profit Team | Tuesday February 20, 2018

When the banking sector is busy counting its losses in one of the most gigantic banking frauds, the law enforcement agencies, CBI and ED, have raided properties linked to diamantaire Nirav Modi and Mehul Choksi's Gitanjali Jewels. The CBI has already arrested three persons, including the 2 PNB staffers, who have been sent to the judicial custody ti...

In Mumbai, Delhi, How Once-Hot Property Market Has Tanked

Business | Pooja Thakur, Upmanyu Trivedi and Dhwani Pandya, Bloomberg | Wednesday January 31, 2018

The property developers are adding to a pile-up of bad loans in India's banking sector, which is already struggling to manage a spike in stressed assets across several industries.

Bankers Suggest Lowering Of Corporate Tax To Boost Credit Growth, Says Survey

Business | Press Trust of India | Wednesday January 24, 2018

The survey findings reveal that banking sector performance during the July-December 2017 period remains more or less similar to the previous six months on the parameters studied.