George Mathew

Profile

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.

Reliance Jio disrupts market: JioPhone, unlimited calls and 4G data at Rs 153 a month
Mon, Jul 24, 2017

News of the launch pushed share prices of RIL’s rivals down on the stock exchange. Bharti Airtel shares fell by 2.05 per cent Rs 153 a month and Idea Cellular by 3.11 per cent while RIL shares soared 3.76 per cent during the day.

Finance Ministry warns PSU general insurers on huge underwriting losses
Tue, Jul 18, 2017

The government’s warning has come at a time when PSU insurers are getting ready to come out with initial public offers (IPOs) and list their shares on the bourses.

142 per cent rise in bad education loans in 3 years
Mon, Jul 17, 2017

More than half of education loans were taken by applicants in southern states, which have also reported most defaults. Students from Tamil Nadu and Kerala are in the forefront of taking loans, said an official of a nationalised bank.

Interview with Shardul Shroff: Next 90 days will see some form of action, there will be some revival plans or insolvency
Mon, Jul 17, 2017

Shroff, who represents lenders in the litigation, said buyers for the assets are waiting in the wings and banks will get to know the realisation — of course with haircuts and after long-drawn proceedings.

Maharashtra regains top recipient status for FDI inflows
Sat, Jul 08, 2017

Within Vidarbha, the textile park in Amravati attracted huge investment largely led by policy shift to have textile units only in cotton producing areas.

Regulator to initiate action: Over 1K firms listed on defunct bourses not traceable, says Sebi
Sat, Jul 08, 2017

Such firms to be included in corporate affairs ministry's ‘vanishing’ firms list

Recovery of $580 million against Essar arm’s loan default: ICICI Bank’s Singapore arm moves UK court
Thu, Jul 06, 2017

In September 2016, ICICI’s Singapore branch had moved the New York Supreme Court seeking $560 million in damages

Supply chain, infra not GST-ready: Small traders
Mon, Jun 26, 2017

Despite efforts by the government, the transitional provisions have failed to account for or facilitate transition of credit and stocks in many scenarios relevant to businesses. According to sources, the textile and garments sector workers are going on a strike from June 26 against the high rate of GST.

Transition to GST: Banks, insurers say systems in place despite challenges
Mon, Jun 26, 2017

With the implementation of GST less than a week way, experts have warned of a short-term liquidity shortage as there could be input credit lock up of of over Rs 100,000 crore, of which close to Rs 50,000 crore could be blocked for about two months.

Monetary Policy: US Fed hike signals RBI cut
Fri, Jun 16, 2017

India’s central bank, which has kept the benchmark repo rate steady at 6.25% in the last four policy reviews awaiting the US Federal Reserve’s decision and the progress of monsoon, may opt to go for a bigger cut in the next policy review

RBI identifies 12 mega defaulters for insolvency, their total NPA Rs 175,000 cr
Wed, Jun 14, 2017

25% of total NPA in these accounts with overdue above Rs 5,000 crore each.

Despite decline in interest rates, industry’s loan exposure plummets
Tue, Jun 13, 2017

India Inc’s bank exposure has declined to Rs 24,94,100 crore in April 2017, from March 18, 2016 high of Rs 27,30,700 crore, according to the Reserve Bank of India data.

Two French reinsurance companies join race in India
Mon, Jun 12, 2017

Seven global players — Swiss RE, Munich Re, Hannover Re, Lloyd’s, XL Catlin, RGA and Gen Re — have already received approvals from insurance regulator IRDAI.

Loan waivers increasing fiscal slippage risk, RBI warns Govt
Thu, Jun 08, 2017

A Bank of America Merrill Lynch report has said various state governments are expected to waive off $40 billion, or Rs 257,000 crore, of farmers’ loans in the run-up to the 2019 general elections.

‘National Insurance’s actuary understated claims by 4000 crore’
Sun, Jun 04, 2017

IRDAI bars official Actuary Sandilya for 2 years

PSU banks face RBI corrective action, curbs on operations
Tue, May 30, 2017

In extreme cases, the PCA framework provides the RBI with powers to force mergers or even wind up the non-compliant banks.

India entry: Warren Buffett’s reinsurance company clears final hurdle
Tue, May 23, 2017

The new branch structure will now allow Gen Re to deliver underwriting and risk management expertise locally rather than cross-border.

Foreign Inflows cross Rs 1 lakh crore in 2017: As FPIs, mutual funds play big bulls, insurance firms pull out
Mon, May 22, 2017

While insurance companies pulled out over Rs 10,000 crore in the fourth quarter alone, FPI investments in both equity and debt markets have touched Rs 1,08, 484 crore in 2017

Insurance: LIC sees growth phase, offers 8% assured return in new 100-year scheme
Fri, May 19, 2017

The latest plan which provides cover up to age 100 offers a combination of income and protection