George Mathew

Profile

Interview with Uday Kotak: ‘Massive amount of Indian savers’ money is now going into few hundred stocks’
Mon, Jan 15, 2018

Uday Kotak said four out of five top private banks are majority owned foreigners, benefiting foreign savers.

Uday Kotak red flag over market rally, says savings going to ‘few hundred stocks’
Mon, Jan 15, 2018

He said a lot of domestic savings were flowing to “a few hundred stocks” of firms whose governance standards fuel concern.

As states waive loans, farmer default spikes 23 per cent in a year: RBI data
Wed, Jan 10, 2018

According to RBI data, agriculture NPAs rose over 23 per cent from Rs 48,800 crore in 2016 to Rs 60,200 crore in 2017.

Maharashtra: Profits of DCCBs decline, bad loan ratio rises
Sat, Jan 06, 2018

In terms of bad loans, Maharashtra ranks fourth behind Jharkhand that reported NPAs of 47.6 per cent, Bihar, 24.5 per cent and Jammu & Kashmir at 15.1 per cent.

Insurers cut ‘own damage’ premium by up to 20 per cent
Fri, Jan 05, 2018

The premium reduction is largely due to the IRDAI’s MISP (Motor Insurance Service Provider) circular which reduced the commission to auto dealers.

IRDAI top post: Insurance sector CEOs, bureaucrats in the fray
Wed, Jan 03, 2018

Earlier in November, the committee had interviewed candidates to select two Members (life and finance) of the IRDAI.

Foreign Investment rise in 2017: Liquidity surge in markets invites cautious trading in new year
Tue, Jan 02, 2018

Experts say that 2018 might not be smooth for the markets due to rising inflation, fiscal deficit and general elections in 2019.

SBI cuts base rate by 30 bps; home loan fee waived till March
Tue, Jan 02, 2018

Move to help reduce EMI burden of over 80 lakh existing customers.

FRDI Bill: Depositors are not going to suffer because of the bail-in clause, says KC Chakrabarty
Thu, Dec 21, 2017

Chakrabarty says, “how long will tax payers bail out banks? If the bank survives because of bail-in provision, even uninsured money can be saved.”

‘Government to clarify on FDI status in pension fund sector’
Wed, Dec 20, 2017

More than 5.36 lakh subscribers have joined NPS under NPS-all citizen model. The overall number of NPS and APY subscribers has crossed 1.80 crore with total assets under management (AUM) of more than Rs 220,000 crore.

Property loan segment: Rising defaults, declining growth
Fri, Dec 15, 2017

Delinquencies are on rise due to increasing competition & sluggish realty market; lenders that prudently assess borrower cash flows, practice strict valuation can sustain profitable business over longer term.

Banks set to initiate insolvency proceedings against 2 dozen companies
Thu, Dec 14, 2017

Bad debt resolution became a hot issue with the promoters of insolvent steel companies bidding for assets.

Debit cards: Merchant acquirers demand a higher share of MDR
Tue, Dec 12, 2017

Issuers of prepaid payment instruments (PPIs) are unhappy as they are treated as merchants liable to pay MDR.

RBI keeps rates unchanged, warns against higher inflation, fiscal deficit
Thu, Dec 07, 2017

The RBI panel said there have been several significant developments in the recent period which augur well for growth prospects, going forward.

PSU banks write off Rs 55,356 crore in six months
Mon, Dec 04, 2017

The write-off in the last six months comes at a time when banks are struggling to resolve many cases of repayment of loans and recover money stuck with corporate defaulters through insolvency proceedings.

Inflation, fiscal deficit woes: RBI likely to opt for status quo
Mon, Dec 04, 2017

The year-on-year (YoY) CPI inflation hardened to a seven-month high 3.6 per cent in October 2017 from 3.3 per cent in September 2017.

IRDAI panel for dilution of compulsory cession for certain biz
Fri, Dec 01, 2017

If implemented by the regulator, this provision is likely to hurt public sector GIC Re — the beneficiary of compulsory cession — and benefit private and foreign reinsurers, industry officials said.

PFRDA moves closer to one-crore-account target under Atal scheme
Sun, Nov 26, 2017

Atal Pension Yojana is open to all bank account holders.

Bad debt: Banks look for credible buyers; no fall in value of assets, says SBI chairman Rajnish Kumar
Fri, Nov 24, 2017

The RBI's Internal Advisory Committee (IAC) had identified 12 large accounts of corporate borrowers who owe over Rs 5,000 crore each with an overall amount of over Rs 2,40,000 crore for insolvency proceedings under the newly enacted IBC.

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.