Deputy Managing Director

Status Quo Policy: Withdrawal limit restriction may go beyond Dec, say experts

Both V Srinivasan of Axis Bank and Ashish Parthasarthy of HDFC Bank agree that the withdrawal limit could extend beyond December 30 because the limit depends on the availability of currency.

Winds of change at L&T: SN Subrahmanyan now Deputy MD, Prez

The appointment comes close on the heels of the Group Executive Chairman AM Naik's recent comments suggesting that there could be a structural rejig at the top of one of the country's biggest conglomerate.

Reserve Bank of India may limit size of lender consortiums

Reserve Bank of India Deputy Governor R. Gandhi told a conference on Tuesday that banks with small exposures assume less responsibility when loans sour â€“ a major problem for India, as it seeks to tackle $50 billion of bad debt that‘s slowing credit growth and hampering a broader economic recovery.

JMC Projects Q1 net profit rises 47.78% to Rs 6.34 crore

The company, a subsidiary of Kalpataru Power Transmission, had reported Rs 4.29 crore profit in the corresponding quarter last fiscal, it said in a statement.

IMF official warns of market disorder from Fed rate hike

The International Monetary Fund's deputy managing director warned on Monday that there is "considerable" risk for negative spillover from the US Federal Reserve's pending interest rate hike.

Air India seeks one-year extension for Director-Finance

The extension granted to the current CMD Rohit Nandan expires in August. After a streak of losses, Air India had reported a net profit of Rs 14.6 crore in December last year, from a loss of Rs 168.7 crore in the corresponding period of 2013.

SBI launches pre-paid card, expects to garner CASA deposits

India‘s largest lender State Bank of India (SBI) on Tuesday launched a pre-paid card christened as "SBI Smart Payout Card" for students, employees, workers, and contract labourers. Customers need not to open any bank account for the same.

Budget 2013-14: Likely to be austere on threat of credit rating downgrade

The Union Budget for FY 2013-14 will be designed to augment economic growth while ensuring fiscal consolidation and other structural reforms. FM P. Chidambaram â€“ credited with the dream Budget of FY 1997-98 â€“ is expected to attempt a balance between supporting growth by making expenditure more effective and ensuring fiscal discipline.

Lend to midcap cos carefully, not slowly: SBI Dy MD Acharya

SBI is no exception when it comes to the credit quality jolts that banks received in the last one year. It is the mid size companies, which defaulted the most leaving bankers dumbfounded over rising pile of bad loans. However, the bank will continue to extend credit carefully but not slowly.

SBI modifies mid corporate credit structure, eyes 5% NPA

Reeling under a series of asset quality pain exacerbated by economic downturn the State Bank of India (SBI) has incorporated structural changes in its mid corporate credit segment. Those range from creating new vertical, reducing work loads, to adding a few more senior officials at the helm of affairs.

Expect loan book to grow 12% this fiscal: IDBI

The youngest public sector lender IDBI Bank figures in some big loan restructuring cases of corporate borrowers. Like many other state-owned banks, it continues to experience stress in some big accounts as well. According to B K Batra, deputy managing director of the bank, there is a fair amount of stress in the whole industry.

Banks' credit rises over 16% y-o-y, deposits up at 14%

The non-food credit or the amount banks lend to individuals and companies rose more than 16% year-on-year to around Rs 46.74 lakh crore for the fortnight ended September 23, 2012. The growth in bank deposits increased nearly 14% y-o-y to Rs 62.90 lakh crore, according to the latest RBI data released on Wednesday.

FinMin appoints Tilak Bajalia as DMD of SIDBI

The ministry of finance, on Wednesday appointed Tilak Raj Bajalia as deputy managing director of Small Industries Development Bank of India (SIDBI).

Banks to restructure Rs 2 lakh cr loans by end-FY13: Crisil

Asset quality concerns continue to haunt the Indian banking industry. The total amount of restructured loans during 2011-12 and 2012-13 is expected to be at around Rs 2 lakh crore (Rs 2 trillion) with a significant portion from large-sized corporate entities, stated Crisil Ratings in a report released on Tuesday.

Cheaper loans: Banks start slashing rates, more to follow

Three banks including ICICI Bank, Punjab National Bank and Bank of Maharashtra (BoM) on Thursday slashed their lending and deposit rates to the tune of 25-10 basis points. Many more banks including State Bank of India, Central Bank of India Corporation Bank, Indian Overseas Bank and IndusInd Bank are likely to follow the suit soon.

High input costs, interest drag Ceat Q2 net down 63% YoY

Tyre manufacturer Ceat’s second quarter net profit plunged 63% year-on-year to Rs 516 crore. Ceat said exports surged 90% during the quarter, and the full impact of the price hike taken in the first quarter was also realized in July-September. However, the gains were offset by a sharp rise in raw material costs and higher interest.