A report from Standard & Poor’s (S&P) warned that the declining asset quality of banks in India would affect their performance adversely. Recently, the global credit rating agency released the report titled “Slack Economic Growth Dents Recovery Prospects for Indian Bank. In the next 18-24 months, the Indian banking sector may not recover because of sluggish economic activity and
Tag: economy
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FSDC panel discusses stability of financial system
The sub-committee of Financial Stability and Development Council (FSDC), chaired by RBI Governor D Subbarao met recently to discuss potential risk to stability of the domestic financial system. The sub-panel expressed concern on the deteriorating asset quality of public-sector banks and discussed corrective measures for
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Govt mulls overseas debt issuance by PSUs
The Indian government is mulling various steps to prevent further depreciation of rupee against the dollar. One of the steps considered by the government is to ask financially strong state-run companies to raise debt from overseas investors. According to one estimate, state-run companies could raise $25-30 billion of capital through issue of bond
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Govt mulls overseas debt issuance by PSUs
The Indian government is mulling various steps to prevent further depreciation of rupee against the dollar. One of the steps considered by the government is to ask financially strong state-run companies to raise debt from overseas investors. According to one estimate, state-run companies could raise $25-30 billion of capital through issue of bond
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FIIs buy govt stake in state-run firms
The government raised about Rs 23,830 crore offloading stake in 7 state-run firms during 2012-13. 39 percent of this amount came from FIIs, union government said in a press release. Only about 25 percent came from Insurance Companies including LIC and less than 10 percent from banks including Public Sect
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Banks request regulatory forbearance from RBI
Reserve Bank of India (RBI) received request from some banks to give concessions on the prudential guidelines owing to unfavourable liquidity condition in the banking system. One of the concessions sought by banks is the waiver of the additional 75 basis points provisioning on restr
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Steel sector holds bright prospect: SAIL chief
Speaking to a leading newspaper, CS Verma, Chairman of Steel Authority of India (SAIL) said the Indian steel sector holds bright prospect going forward. He hinted that demand for steel may increase in the country as the government has given thrust to investment in key infrastructure sector during the 12th five
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Govt finding new Governor of RBI
Finance Minister P Chidambaram informed reporters that the government was looking out for a new Governor for Reserve Bank of India (RBI). It is learnt that the present Governor D Subbarao is due to retire in September. The government is reportedly considering some names like the Planning Commission member Saumitra Chaudhuri, Economic Affairs Secretary Arvind May
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RBI steps help stabilise rupee exchange rate
The recent measures taken by Reserve Bank of India (RBI) has some effect on stabilising rupee exchange rate against dollar. The central bank took some measures in order to make the domestic currency much costlier. In recent trading session, rupee-dollar exchange rate is hovering in a 58.80 to 59.20 range. Some sources hinted that foreign banks were seen selling the doll
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PE investors struggle to exit investment
A study by Deloitte India shows that private equity investment in India exceeded $100 billion since 1995, but only $25 billion of the investment has been withdrawn. In other words, in 80 per cent of investment, PE players have not got their money back, are struggling to find an exit and in some cases even written off their investment