SKS Microfinance board members unanimously oppose giving a board seat to its founder Vikram Akula saying his return is not in the best interest of either the company or its borrowers,
Under this window, banks can swap the dollar deposits raised from non-resident Indians with rupee deposits. And for this hedge, banks will have to pay RBI an interest at just 3.5 percent per annum, against current hedging costs of 7 percent. This will bring the total cost of FCNR deposits down to around 9 percent.
It is independence week and it is time for stocktaking, to be sure we have done well these 66 years, reports CNBC-TV18‘s Gopika Gopakumar.
Around Rs 47,359 crore of loans were referred to the corporate debt restructuring (CDR) in just one month, which is over half of what was referred in the last year
ICICI Bank's managing director, Kochhar took Rs 5.12 crore as her take home salary in FY13. She has topped the list of the bankers getting high remuneration.
CNBC-TV18‘s Gopika Gopakumar reports that PSU banks have begun to use publicity to recover dues from big borrowers.
The Finance Minister P Chidambaram, who has been on a week-long tour of Canada and US, claimed that investors are convinced about the Indian government's intention and commitment towards reforms, reports CNBC TV18's Gopika Gopakumar.
Today, Finance Minister P Chidambaram met with bankers and industry leaders in Mumbai to take stock of the infrastructure projects which are being stalled.
Technology has saved public sector banks hundreds of crore this year. However, it has also cost the jobs of many auditors.
Can RBI use the opportunity to issue new bank licences to make a big difference to the unbankable? None of the indian PSUs and private banks have cracked the bottom-up model.
The insurance sector seems to have mixed feelings for Budget 2013. While the opening up of the bank insurance route has been hailed as a key reform. The lack of additional tax concessions has disappointed insurers.
Some public sector banks are likely to see higher tax outflow. It was after the government clarified in the Budget that banks cannot claim double tax allowance on provisions made on rural loans and written off bad loans. CNBC-TV18‘s Gopika Gopakumar, reports
The government proposed Rajiv Gandhi Equity Savings Scheme (RGESS) is creating a rift amongst mutual fund houses.
The wind turbine maker Suzlon can now heave a sigh of relief. Lenders have approved the company's Rs 9600 crore worth corporate debt restructuring package.
Tough times are not yet over for PSU banks. These banks are set to see higher provisioning before the end of the financial year.
CNBC-TV18's look at the challenges these districts are facing in implementing the government's ambitious direct cash transfer. Gopika Gopakumar reports from Wardha, one of the districts selected for the pilot project.
The new securitisation rules have made the sale of home loans from HDFC to HDFC Bank less lucrative for HDFC Bank.
The all important GDP numbers for the first quarter or the April-June quarter will be announced tomorrow.