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
BUSINESS
Banking Central: Why you will love good old bank FDs in new year (once again)
FD rates have been rising after the Reserve Bank of India (RBI) repo rate hikes. If you are someone looking to lock your funds in a safer instrument, FDs can be a good option at this environment.
BUSINESS
Chanda Kochhar, Rana Kapoor, Kapil Wadhawan: Meet the fallen stars of Indian banking
They ruled the banking industry but then greed struck. Money laundering, kickbacks and cheating are among a long list of accusations that people like Chanda Kochhar, Rana Kapoor face. How do dream careers end up in a nightmare, read on
BUSINESS
New RBI data shows wilful defaulters are laughing all the way away from banks
Banks are almost sitting ducks with wilful defaulters. Most of the money lent to these defaulters, besides the huge corporate loan write-offs, is as good as gone. Ultimately, this is public money
BUSINESS
Banking Central | The big challenges for RBI’s Shaktikanta Das in 2023
The biggest and most damning enemy of the central bank remains inflation in 2023. Crypto regulations are next.
BUSINESS
Interview | CreditAccess to enter India life insurance business, hopes to get approvals in the next 6 months
Interview| CreditAccess to enter India life insurance business, targets launch in 6 months
BUSINESS
Is Raghuram Rajan gunning to be the next Manmohan Singh of Congress party?
If one looks closely, the career graphs of both Rajan and Manmohan have striking similarities. Both served in the Indian government and the central bank and have international repute.
BUSINESS
Is November CPI inflation at 5.88% a game changer on RBI rate hikes?
Core inflation, which is the non-food, non-oil part of the headline inflation, remains sticky and elevated at over 6%. In fact, core inflation has averaged around 6.2-6.3% in fiscal year 2023. That is a worry for the RBI.
BUSINESS
Budget 2023: What is in store for banking sector? Will govt bite the bullet on crypto regulations?
The government should act urgently on crypto regulations and give clarity on the bank privatisation plan.
