George Mathew

Profile

Insurers say they can’t enforce Supreme Court order on PUC certificates
Mon, Nov 20, 2017

The SC bench headed by Justice Madan B Lokur also asked the Ministry of Road Transport and Highways to ensure that all fuel refilling centres in the National Capital Region (NCR) have PUC centres.

Moody’s India rating upgrade: Concerns over NPAs, private funds persist
Sat, Nov 18, 2017

Moody’s has already cautioned about the debt scenario. High debt/GDP ratio is likely to increase in the next two years on slower growth

Markets haven’t understood insurance sector: G Srinivasan, New India Assurance CMD
Fri, Nov 17, 2017

Srinivasan spoke about competition, growth in the sector, crop insurance, motor and health insurance.

Bad loans of private banks also spurt, keep pace with PSU counterparts
Fri, Nov 10, 2017

The RBI’s Financial Stability Report says that a severe credit shock is likely to impact capital adequacy and profitability of a significant number of banks.

Digital transactions fail to gather steam after initial demonetisation surge
Wed, Nov 08, 2017

Demonetisation anniversary: Digital business fell to a low of Rs 107 lakh crore in July 2017 and Rs 109 lakh crore in August.

One year after demonetisation: Credit card use up but balance due surges by 39 per cent
Wed, Nov 01, 2017

In fact, card outstandings have shot up by 77.74 per cent in the last two years, from Rs 33,700 crore in September 2015.

Recapitalisation monumental step, says RBI Gov Urjit Patel, better banks ahead in line for capital
Thu, Oct 26, 2017

Of the total of 22 PSU banks, as many as eight currently have gross non-performing assets (GNPA) above 15 per cent while 14 banks have GNPA of more than 12 per cent.

Recap bonds likely to raise debt levels, push back rating upgrade
Thu, Oct 26, 2017

Rise in debt to GDP ratio, already high against similar BBB-rated countries, a concern, say experts.

Must link all bank accounts with Aadhaar: RBI
Sun, Oct 22, 2017

The union government has said it would extend until December 31 the deadline to furnish Aadhaar to avail benefits of social welfare schemes.

GIC Re IPO scrapes through, poor response to retail quota
Sat, Oct 14, 2017

The qualified institutional quota (QIB) of the IPO received a good response from institutional buyers led by Life Insurance Corporation (LIC), bailing out the IPO. QIB portion was oversubscribed 2.25 times with the buyers putting Rs 12,770 crore against the reserved portion of Rs 5,680 crore

RBI panel reveals ad hoc, arbitrary practices by banks to inflate interest rates
Tue, Oct 10, 2017

The actual base rate worked out by one major private sector bank in March 2017 was almost 80 bps higher than suggested by the base rate formula.

RBI surveys show general economy in ‘pessimistic zone’, jobs big worry
Mon, Oct 09, 2017

Employment prospects have been the biggest cause of worry for respondents, with sentiment plunging further into the pessimistic zone; the outlook on employment has also weakened in the last two rounds.

New SBI chief Rajnish Kumar restructures top organisational set-up
Mon, Oct 09, 2017

Realigns various business groups and verticals under whole-time directors.

RBI cuts growth rate to 6.7%, cautions against fiscal stimulus
Thu, Oct 05, 2017

RBI Governor Urjit Patel said with the combined fiscal deficit of the Centre and state governments in the region of over 6 per cent of the GDP, the “national fiscal stance can hardly be described as tight”.

Govt appoints retired officials on public insurers’ boards
Tue, Oct 03, 2017

This is for the first time that so many retired officials of the public sector insurance companies have been named as the non-official directors of state owned insurance companies.

MPC policy review on October 3-4: RBI likely to hit pause button over high consumer inflation
Mon, Oct 02, 2017

Lower foodgrain output, rising crude cost likely to keep prices elevated

Disclosure of defaults by listed firms: Sebi defers proposal
Sun, Oct 01, 2017

The regulator has not disclosed reasons for putting off the move indefinitely.

Regional rural banks set to unlock value; listing of shares in the offing
Tue, Sep 26, 2017

In RRBs, 50 per cent is held by the Central government, 35 per cent by the sponsor banks and 15 per cent by the state government.

‘Post-merger concerns addressed; 4,000 employees took VRS’
Tue, Sep 26, 2017

Dinesh Kumar Khara, managing director, State Bank of India (SBI), said that the bank had engaged with the subsidiaries with the help of an internet site wherein they were allowed to share any of their concerns. And those concerns were addressed.

India Inc lines up to raise close to Rs 1 lakh crore through IPOs
Fri, Sep 22, 2017

According to analysts, a major reason for the long queue for the IPOs is the sustained rally on the stock market. Foreign investors and domestic mutual funds have been pumping money into the secondary markets.

Prem Watsa gets IRDAI nod for new insurance venture
Thu, Sep 21, 2017

Earlier this year, Fairfax’s proposed deal to acquire a 51 per cent stake in Kerala-based Catholic Syrian Bank fell through over differences in valuation. Fairfax was founded in 1985 by the present chairman and chief executive officer V Prem Watsa.

Wilful defaults in banks cross Rs 1 lakh crore
Mon, Sep 18, 2017

Among financial institutions, LIC's wilful defaults came down from Rs 1,304 crore in March 2016 to Rs 1,034 crore by March 2017 and IFCI's rose from Rs 1,069 crore to Rs 1,274 crore during the year ended March 2017.

Discuss ways to merge at board level: govt to banks
Sun, Sep 17, 2017

The rising bad loans have underlined a growing need for huge capital infusion. The government had indicated earlier that it would provide Rs 70,000 crore as capital for these banks over four years.

Interview with A Balasubramanian: ‘Domestic funds have become a big counter-force to FIIs’
Fri, Sep 08, 2017

In an interview to The Indian Express, Balasubramanian, who manages assets worth over Rs 205,000 crore, spoke about the fund industry, prospects, growth and investors strategy.

RBI’s return on foreign currency assets down at 15-year low of 0.80%
Tue, Sep 05, 2017

Income from foreign sources fell by 35.27% from Rs 28,713 crore in 2015-16 to Rs 18,586 crore in 2016-17

Demonetisation, GST and RERA impact: Falling interest rates fail to lift home loan demand
Fri, Sep 01, 2017

Despite rate cuts by some banks, home loan growth has fallen to 10.5 per cent in the year to July as against 17.2 per cent a year ago

Demonetisation: Almost 99 per cent of Rs 500, 1000 notes back, discloses RBI
Thu, Aug 31, 2017

As on November 8, 2016 — the day demonetisation was announced — there were 1,716.50 crore pieces of Rs 500 and 685.80 crore Rs 1,000 notes in circulation.

Look who’s cashing in on crop insurance plan-insurance firms
Mon, Aug 28, 2017

Insurers did not lose much money on claims made by farmers either, as 80-85 per cent of the premium is reinsured with reinsurance companies.

MFs want Nandan Nilekani back at Infosys in ‘suitable capacity’
Thu, Aug 24, 2017

After Vishal Sikka’s appointment on the Infosys board, the company has had one extra-ordinary general meeting (in which Sikka was appointed), three annual general meetings and has approached shareholders five times through a postal ballot.

Infosys CEO Vishal Sikka exits amid corporate governance issues, stock falls seven per cent
Fri, Aug 18, 2017

This is the second high profile exit of a well-known CEO of a top business group in the last 12 months. The sacking of Cyrus Mistry as Tata Sons Chairman last year had also raised corporate issues with Ratan Tata questioning many decisions of Mistry. Infosys CEO Vishal Sikka's resignation came through even before the dust had settled on Mistry's sacking.

RBI’s dividend to Government falls by almost half to Rs 30,659 crore
Fri, Aug 11, 2017

For the year 2015-16, the RBI board had approved the transfer of surplus amounting to Rs 65,876 crore to the government. In the previous year, the Central bank had paid Rs 65,896 crore to the government, which came as a boon to the government in covering the deficit.

Want to invest 50% of govt staff pension fund in market, says regulator
Tue, Aug 08, 2017

The EPFO, which has a corpus of close to Rs 10 lakh crore, decided last month to pump in Rs 22,500 crore in exchange traded funds in 2017-18 following approval from its central board of trustees to increase the equity investment from 10 per cent to 15 per cent.

Over-regulation to blame for woes: Ex-IRDAI member
Tue, Aug 08, 2017

Enlisting the growth barriers, the report explained that currently the regulations are prescriptive and rule-based, and often there is carping on ‘market not mature’ and ‘data not adequate’. Private players reported underwriting losses of Rs 2,500 crore in FY 2017.

Loan-pricing systems: For better transmission, RBI in search of yet another benchmark
Tue, Aug 08, 2017

After prime lending rate, benchmark prime lending rate, base rate and marginal cost of funds-based lending rate, the central bank is planning to come up with another system to price loans.

Stage set for RBI policy panel to go for cut in repo rate
Mon, Jul 31, 2017

The 10-year benchmark government securities (G-Sec) yield has fallen by around 25 bps since the beginning of FY 2018 to 6.42 per cent, which has partly raised the likelihood of a rate cut by the MPC next week.

FMCG, Realty, banking stocks lead rally: Nifty briefly breaches 10K mark on liquidity surge
Wed, Jul 26, 2017

The Nifty, which has been steadily gaining ground over the last one year amid high liquidity, rose 44.90 points to reach an all-time high of 10,011.30 points crossing its previous intra-day high of 9,982.05 yesterday. However, it fell quickly after valuation concerns.