BUSINESS
Rs 4,760 crore bank fraud: CBI registers case against GTL Ltd directors, bankers
Enquiries revealed that GTL was extending advances to vendors year on year without supply of material and goods. Around 24 banks have together lent money to GTL that include Canara Bank, Dena Bank and ICICI Bank among others.
BUSINESS
Exclusive: Videocon loan case: Dhoot co-founded NuPower at own office address, documents reveal
Dhoot’s Supreme Energy was incorporated just six months before Deepak Kochhar’s NuPower at the same address in 2008, indicating their association before the alleged loan scam.
BUSINESS
Banking Central | Yes Bank AT1 bond holders knew the risks, they simply ignored it
Retail investors in bonds and debentures are generally supposed to be savvier than retail stock investors. Hence, they have to take part of the blame.
BUSINESS
MC Explains | The Yes Bank AT1 bond and why Bombay High Court refused a write-off
The issue, however, is far from resolved. On January 21, Yes Bank said it will move the Supreme Court against the high court order, starting another round of legal battle
BUSINESS
The great Indian banking baraat: Megaphones, grand processions, music—all to lure the elusive depositor
Bankers are running baraat-like shows on streets in a desperate bid to garner deposits. Is making a show to market deposit products a new norm?
BUSINESS
Budget 2023 | Can FM Sitharaman crack the Crypto code in the Budget?
The finance minister has a golden opportunity to set the tone for crypto regulation taking cues from the Reserve Bank of India’s clear messaging on crypto dangers.
BUSINESS
Banking Central | Bank bad debt load would look scary sans huge corporate loan write-offs
The amount of money written off largely comprises of loans given to corporate borrowers
BUSINESS
PTC Financial Services under RBI scanner as corporate governance issue lingers
The PFS management has dismissed the findings of a forensic audit, citing views of E&Y and a former chief justice of India.
BUSINESS
How ICICI Bank burned an $850 million hole with wrong bet on Australian coal mine
Three other Indian banks also put money on the table for the acquisition of the Griffin Coal mine by Lanco, which went bankrupt. The loans turned bad in 2017 and ICICI Bank is learned to have fully provided for the losses in FY18.
BUSINESS
Rs 100-crore scam: How a Kerala couple duped HNIs, doctors and retired govt officers to splurge at Goa casinos, on foreign trips
The couple—Ebin Varghese and wife Sreeranjini—duped 80-85 investors promising 20-40 percent returns.
BUSINESS
Banking Central | IDBI Bank divestment will set the tone for PSB privatisation
While PSBs are struggling with legacy issues, private banks are gaining market share. A successful template can give confidence to the government and attract more buyers.
BUSINESS
Chanda Kochhar's release procedural, won't affect facts of the case, say lawyers
The Bombay High Court granted bail to the former ICICI Bank chief and her husband, Deepak Kochhar, saying the arrests were not in accordance with law
BUSINESS
Budget 2023: Higher allocation for agriculture, infrastructure is the key, says Rajnish Kumar
The former SBI chairman said he would be very happy if there is any relaxation in income tax in the Budget 2023 but it was unlikely
BUSINESS
BharatPe Chairman Rajnish Kumar: I'll never stoop to Ashneer Grover's level, I don't change my colours
Ousted BhratPe co-founder Ashneer Grover had tweeted that Rajnish Kumar was his biggest hiring mistake
BUSINESS
Rajnish Kumar Interview | Action must against bankers for quid pro quo deals but can't blame only them for NPAs
The comments come a few days after former ICICI Bank CEO Chanda Kochhar was arrested by the CBI in the Videocon loan scam
BUSINESS
MC Exclusive | BharatPe's Rajnish Kumar denies leadership crisis, looks for fresh talent
On January 3, CEO Suhail Sameer stepped down, following a series of other senior level exits in the company
BUSINESS
Exclusive | Former SBI chief Rajnish Kumar bats for reforms in Kisan Credit Cards
Kumar’s comments come just a month ahead of Union Budget 2023 and banking sector is eagerly looking for supportive measures for growth from government.
BUSINESS
Exclusive | Ex-SBI chief pitches for greater autonomy, professionalism in public sector
Rajnish Kumar's comments assume significance in the backdrop of a prolonged debate on autonomy, especially for public sector banks (PSBs), and the bid to privatise at least some of the state-run lenders
BUSINESS
Banking Central | 5 key things to watch out in Indian banking sector in 2023
The year 2022 was a rollercoaster ride for India’s banks - RBI’s unprecedented aggression on inflation, arrest of a top banker in a loan scam and continuing collapse of India’s cooperative banks. What’s 2023 hold? Let’s take a look.
BUSINESS
RBI Financial Stability Report: Gross NPAs of Indian banks fall to seven-year low in September
Macro stress tests for credit risk reveal that banks would be able to comply with the minimum capital requirements even under severe stress scenarios, the RBI report said.
BUSINESS
How Chanda Kochhar’s family built a green power firm with blessings from Dhoots
Both the Dhoot and Kochhar families were closely involved in NuPower Renewables from its early beginnings, contrary to claims, evidence shows
BUSINESS
Exclusive Interview | Chanda Kochhar’s arrest only tip of iceberg, more beneficiaries involved, says whistle-blower Arvind Gupta
In a free-wheeling interview with Moneycontrol, Gupta said the role of ICICI Bank management, named in the CBI First Information Report (FIR), needs to be probed thoroughly.
BUSINESS
Chanda Kochhar, Venugopal Dhoot not cooperating with probe, CBI tells court
Both Chanda and Deepak Kochhar were arrested on 24 December in connection with the Rs 3250 crore Videocon loan scam
BUSINESS
How Venugopal Dhoot’s quid-pro-quo money led to Kochhars’ downfall
Dhoot’s investments Deepak Kochhar’s companies, shortly after securing a loan from Chanda Kochhar-headed ICICI Bank, became the corner stone of India’s biggest banking scandal
