India’s economic growth is expected to recover in the last two quarters of the current financial year since consumer demand is expected to pick up during the festive season, the finance minister added. read more

More than 2.4% of total loans in India’s banking system may be under stress on top of the 9.6% bad debt ratio as of June, the highest among major economies, Credit Suisse estimates shows. read more

The Rajya Sabha MP from Rajasthan said the country needs principled, knowledgeable and visionary leaders in times to come to strengthen democracy. read more

Three private banks had NPA of less than 2% and eight had between 2-5% and five between 5-10%. IDBI Bank, UCO Bank and Indian Overseas Bank had NPA ratio of above 20% and one was very near at 19.9%. read more

The BJP government should not reject a good and timely idea purely on the basis of who came up with it read more

All banks are supposed to list on their websites unclaimed deposits and accounts that are inactive for more than 10 years. read more

PNB has been defrauded of over $2 billion in a separate scam that came to light last year. read more

In addition, the Survey highlights several positive changes in the social and health sectors such as an increase in the participation of women in the banking system, the declining maternal mortality ratio (MMR), among others. read more

Non-bank lenders have seen their source of funds suddenly dry up after a series of defaults by Infrastructure Leasing & Financial Services Ltd that triggered a liquidity crisis. read more

Some finance experts have been campaigning for the formal recognition of Islamic banking, arguing that it will bring more Muslims into the financial mainstream read more

The main challenge is not the unavailability of savings but the composition of savings and the intermediation to channel savings into investment. There is a deep link between tax incentives and household savings in pension and insurance. read more

In May, Choksi had alleged in a statement that Gitanjali Gems was “cynically destroyed by the PNB in a diabolical manoeuver to divert attention from its own wrongdoings.” read more

The overall picture emerging from the latest data on bank credit highlights the lack of fundamental reform in the banking sector read more

The currency was also buoyed on reports that India has lined up alternate sources to make up for likely shortfall in crude supplies, forex dealers said. read more

Ambedkar, incidentally, is being wooed by the Congress-NCP alliance and has been offered four seats. However, he has been demanding 12 seats which the alliance is unlikely to accept. read more