Innovation and prudence combined necessary in the current regulatory environment: SBI MD
Delivering the keynote address at ETBFSI CIO Digital Conclave 2024, he said innovation should be able to achieve scale to make an impact.
Delivering the keynote address at ETBFSI CIO Digital Conclave 2024, he said innovation should be able to achieve scale to make an impact.
Khara told ET that India’s focus on building manufacturing muscle would further strengthen the growth capex trend and, in turn, banks that are expected to help finance India's spectacular and exciting journey along the competitiveness gradient.
The Reserve Bank of India (RBI) has imposed penalties totaling almost Rs 3 crore on State Bank of India, Canara Bank, City Union Bank, and Ocean Capital Market Ltd for violating regulatory norms.
More banks, contrary to expectations, are busy building brick-and-mortar presence across the country for access to something that has defined banking since it began: Deposits.
In the ranking of top 10 most valued firms, Reliance Industries continued to rule the chart followed by Tata Consultancy Services, HDFC Bank, ICICI Bank, SBI, Infosys, Life Insurance Corporation of India, Bharti Airtel, Hindustan Unilever and ITC.
In a response to emailed queries by ET, Oyo said the information is inaccurate. Oyo’s first public offer filing was returned by the markets regulator in January 2023, requiring the SoftBank-backed firm to refile its draft red herring prospectus (DRHP) with updates and revisions. The startup then made a confidential pre-filing with Sebi for a significantly smaller-sized IPO.
The government has recently announced the appointment of Rajay Kumar Sinha as the member of finance and investment at the Insurance Regulatory and Development Authority of India (IRDAI). Sinha, who is currently serving as the MD and CEO of SBI Capital Markets Limited (SBICAPS), will hold the position for a duration of three years from the date of assuming charge. This appointment comes as the term of the previous member, Rakesh Joshi, came to an end in November.
Highlighting the government's focus on fostering capital expenditure and new investment in the economy, Joshi called for a pull in "one direction" from the three key players in capital expenditure and investment - private sector entrepreneurs, bankers, and the government.
Fund mobilisation through corporate bonds that are privately placed has hit a record ₹8.97 lakh crore in 2023, with three weeks left in the year. Fund managers attribute the unprecedented mobilisation to the heightened demand for credit driven by increased economic activity amid faster-than-expected growth, coupled with the low cost of funding.
“ The bank has been showing some financial stress for some time. One of the indicators is fall in profits” said a consultant to cooperative banks requesting anonymity. A long term analysis of financial data shows that profits started falling steeply from 2016 onwards. Net profits fell from a peak of Rs 98 crore in March 2014 to Rs 16.2 crore in March 2020, according to the figures posted on the bank’s website.
This is the second bank objection to the loan default resolution of Lavasa Corporation, billed as the first private hill town project to be built since Independence. It comes almost two years after creditors approved the plan overwhelmingly in December 2021 and months after the NCLT gave its nod in July this year.