In a notification, the Reserve Bank of India (RBI) informed that it would issue clarification on the final guidelines for new bank licences in response to queries raised by intending applicants. It may be noted that the central bank has been receiving queries from applicants seeking clarifications on the guidelines on licensing of new banks in the private sector
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Indian banking sector has less systemic risk
Industry players feel that the systemic risk in the Indian banking sector is muted because of the existence of many medium and small size banks. It may be noted that systemic risk arises when there are large-sized or too big to fail banks. However, in India, many banks are medium and small-sized and hence there is less risk of inter-connectedness, indu
Shriram Group mulls foray into banking business
With the Reserve Bank of India (RBI) releasing guidelines for new bank licenses, a slew of industry conglomerates are interested to make a foray into banking business. One among them is the Chennai-based Shriram Group, promoted by R Thyagarajan. The group, which is one of the contenders for a banking licence, said it want
S&P expects improvement in bank performance in FY15
Ratings agency Standard & PoorÂ’s (S&P) expects the performance of Indian banks to improve only in 2014-15. The agency feels that till then the banking sector would continue to face hurdles, in terms of asset quality and earnings. In 2013-14, the agency expects improvement in the economic growth and corporate performance aided by vario
Care expects banks to recast Rs 577 bn worth loan
According to a report by ratings agency Care, banks in the country would restructure new loan worth Rs 57,782 crore and this would raise the total recast loan book to Rs 312,022 crore next fiscal (2013-14). The report expects banks to carry out most of the restructuring in pipeline during the fourth quarter of this fiscal and through next fiscal if the draft RBI guidelines on re
Care expects banks to recast Rs 577 bn worth loan
According to a report by ratings agency Care, banks in the country would restructure new loan worth Rs 57,782 crore and this would raise the total recast loan book to Rs 312,022 crore next fiscal (2013-14). The report expects banks to carry out most of the restructuring in pipeline during the fourth quarter of this fiscal and through next fiscal if the draft RBI guidelines on re
Morgan Stanley upgrades ratings on oil firms
Following the centre's move towards deregulating diesel prices, financial services firm Morgan Stanley upgraded the ratings on Oil and Natural Gas Corporation (ONGC) and Hindustan Petroleum (HPCL) to 'overweight' from 'equalweight'. On January 17, the central government allowed state-owned oil firms to raise prices in small measures every mon
Karaikal Port tries to overcome debt problem
According to media reports, Karaikal Port (KPPL) is finding ways to overcome its huge debt. Among the plans are refinancing or restructuring of debt or terminalisation of its port infrastructure. It is learnt that the port's projection of a sharp growth of traffic from items like fertilisers, crude or petroleum, and containers has not materialised. This is poss
Rangarajan favours non corporates for bank licenses
Agency reports suggest that C Rangarajan, Chairman of Prime Minister's Economic Advisory Council wants the Reserve Bank of India (RBI) to give first priority to non-corporate applicants for banking licenses. Rangarajan has reportedly said that the central bank must look at various types of financial institutions that
Stiglitz cautions against bank license to corporates
At a time when Reserve Bank of India (RBI) is planning to give banking licenses for new players, some experts caution against allowing corporates to set up banking business. Highliting the risk of conflict of interests, Nobel laureate Joseph Stiglitz said corporates should not be allowed to enter banking