George Mathew


Banks Board Bureau: Government yet to clear several proposals to boost performance of PSU banks
Tue, Mar 20, 2018

Suggestions include management revamp, risk management functions, performance linked sops.

IRDA member slammed: SAT pulls up top official, says his order ‘abetting corruption’
Mon, Mar 19, 2018

In an order issued on Friday, SAT said the order passed by the IRDAI Member on January 9, 2018 “which, in our opinion, is passed in gross abuse of the process of law and dereliction of duty”.

RBI ban on LoUs: Lenders tighten process, import costs may go up
Fri, Mar 16, 2018

Top public sector bankers meet to assess situation, confirm genuineness of the remaining LoUs.

Nirav Modi fallout: RBI discontinues LoUs, may impact trade financing
Wed, Mar 14, 2018

The RBI, in a notification to all banks, said it has decided to discontinue the practice of issuance of LoUs and letters of comforts (LoCs) for trade credits for imports into India by banks with immediate effect.

To recover Rs 265,908 crore, banks sue 17,000 defaulters
Tue, Mar 06, 2018

Figures available from Transunion Cibil Ltd show that banks filed cases against 2,000 borrowers for recovery of over Rs 47,000 crore during the 12 months ended September 2017 even as Debt Recovery Tribunals (DRTs) started speeding up disposal of cases.

The 80:20 Scheme: What is it and who benefitted from it?
Tue, Mar 06, 2018

Last week, a sub-committee of the Public Accounts Committee (PAC), a panel of parliamentarians who audit the revenues and expenditures of the union government, discussed a CAG report published in 2016 that found the scheme had resulted in a loss of over Rs 1 lakh crore to the exchequer.

Banks hike lending rates, EMIs to go up
Fri, Mar 02, 2018

According to bankers, the decision to revise lending rates as reflected in the one-year MCLR was due to the rise in deposit rates, the overall cost of funds and shortage of liquidity in the system.

Vacancy at regulatory bodies: Irdai chairman retires, search panel yet to identify successor
Mon, Feb 26, 2018

Finance Ministry advertises again for the post of RBI DG for supervisory departments.

National Health Protection Scheme: HealthMin meets insurers to chalk out a roadmap
Fri, Feb 23, 2018

NHPS will be part of Centre’s Ayushman Bharat Yojana.

Rs 111,738 crore: That’s what 9,339 wilful defaulters owe, PSU banks hit most
Wed, Feb 21, 2018

The RBI is yet to disclose the full list of defaulters. In 2017, the RBI had told the Supreme Court that it was not in favour of publishing the list of loan defaulters who owe more than Rs 500 crore to public sector banks.

Punjab National Bank fraud: How the system was gamed
Mon, Feb 19, 2018

In a regulatory filing last week, Punjab National Bank reported a Rs 11,394 crore fraud involving billionaire jeweller Nirav Modi. The government has ordered a probe by agencies such as the CBI, Enforcement Directorate and the Income-Tax Department.

Budget proposal to combine three PSU general insurance firms: Post merger, there may be excess of 15,000 staff, Rs 3,000-crore savings
Fri, Feb 16, 2018

Merged unit will have 30 regional offices as against 90 of the 3 firms put together at present, and there might be 10,000-15,000 excess employees.

Nirav Modi case: Punjab National Bank admits Rs 11,000 crore fraud in South Mumbai branch
Thu, Feb 15, 2018

On February 5, CBI had booked diamond jeweller Nirav Modi, his wife Ami Modi, brother Nishal Modi and his maternal uncle Mehul Choksi in connection with an alleged Rs 280-crore cheating case after it received a complaint from PNB on January 29.

Monetary Policy: RBI keeps key rates steady, warns on five levies, fiscal slippage
Thu, Feb 08, 2018

Unveiling the bi-monthly monetary policy statement in Mumbai, RBI Governor Urjit Patel said “significant and postponed deviations” from fiscal targets would make matters “more challenging” going forward.

Why Indian investors are fretting over tax on equity gains, elections
Wed, Feb 07, 2018

Market crash and after: Rising bond yields, Fed rate hike fears give Wall Street the flu, Sensex sneezes.

BSE Sensex, Nifty witness sharp fall as US stock plunge sparks global sell-off
Tue, Feb 06, 2018

Premier indices in India fell around 3 per cent and mid and small cap indices fell over 5 per cent. This is largely due to a global sell-off on concerns of overheating in the US market and expectations of a rate hike by the Federal Reserve System, the central bank of the United States of America. 

RBI likely to keep policy rates unchanged for now
Mon, Feb 05, 2018

Higher minimum support price, fiscal slippages may force rate hike later

Day after budget: 10% tax, fiscal slip; Market wakes up rattled, slides over 800 points
Sat, Feb 03, 2018

Dalal Street witnessed mayhem Friday with the benchmark Sensex plunging 840 points. Worried investors dumped stocks across the board — they were also upset with the proposal of 10 per cent tax on distributed income from equity-oriented mutual funds. 

Union Budget 2018: Rs 5 lakh health cover for 10 crore poor, prescription awaited
Fri, Feb 02, 2018

Describing the scheme as “the world’s largest government-funded healthcare programme”, Finance Minister Arun Jaitley announced one medical college for every three Parliamentary constituencies, and at least one in every state.

Union Budget 2018, Insolvency Resolution: MAT relief for resolution of stressed companies, but experts want more
Fri, Feb 02, 2018

Provisions in the IT Act pertaining to carry forward and set off of losses in closely held firms would be relaxed for entities being dealt with under the code.