George Mathew

Profile

ICICI Bank may get new chairman this month; Former BoB, SBI top bosses in the fray
Wed, Jun 20, 2018

ICICI Bank: MK Sharma who came on board as ICICI chairman on July 1, 2015, has already indicated that he was not keen on another term as the chairman.

Rs 1.44 lakh crore: That’s the record bad loan write-off by banks in 2017-18
Fri, Jun 15, 2018

The last financial year was also the worst for the sector as banks were forced to stop evergreening of bad loans and go for NPA recognition amid huge losses to their government securities portfolio following the rise in bond yields.

SBI chief Rajnish Kumar says bank already big, more mergers are not advisable
Fri, Jun 08, 2018

In the past, too, many mergers in the banking sector have been forced ones. The SBI is seen as a candidate given its size and strength to take over any troubled banks if its principal shareholder does have its way down the line.

SBI Chairman Rajnish Kumar interview: ‘Days of over leveraging, thin equity are behind us; NPAs will also start to come down soon’
Fri, Jun 08, 2018

There’s greater realisation now. One is about the borrowing itself. I think the days of over leveraging and thin equity are over, says Rajnish Kumar

RBI increases repo rate to 6.25%, loans to cost more now
Thu, Jun 07, 2018

The RBI may also have taken into account the fact that many other central banks in emerging markets too have raised rates in the face of rising inflation and weakening of their currencies with rising interest rates in the US and elsewhere, a strong US dollar and outflows.

What RBI’s rate hike indicates
Thu, Jun 07, 2018

Through the first increase in repo rate since the NDA came to power four years ago, the Reserve Bank has underlined the upside risk to inflation projections, and reiterated its mandate to check rising prices.

MPC meet from today: RBI likely to withdraw accommodative policy
Mon, Jun 04, 2018

While the MPC is likely to maintain the repo rate at 6 per cent on June 6, there’s a 40 per cent probability that the MPC will pre-emptively hike rates by 25 bps in the June policy meeting, analysts said.

Complaint by ICICI insider forced board to probe Chanda Kochhar
Sat, Jun 02, 2018

On May 30, the bank stated in a regulatory filing that its board has decided to institute an “enquiry” into a new complaint received from an anonymous whistleblower, alleging non-adherence of code of conduct, conflict of interest and quid pro quo by Kochhar while dealing “with certain borrowers”.

Third party cover: Insurers critical of ministry directive on compulsory PUC
Fri, Jun 01, 2018

In a directive to the Managing Directors of general insurance companies on May 30, the Ministry had said: “It must be ensured that no third-party insurance policy is issued or renewed without ascertaining the availability of a valid PUC."

Banking: 17 PSU lenders post Rs 59,145-crore losses in Q4
Tue, May 29, 2018

It’s double whammy as their banks’ gross non-performing assets (NPAs) have shot up 46.70 per cent to Rs 8,40,868 crore as of March 2018 with the recent Reserve Bank circular scrapping loan recast schemes adding to the woes.

Four years of Modi government — Banking: NPA woes continue despite insolvency reforms
Fri, May 25, 2018

Rs 29,343 cr of Rs 2.72L cr written off bad loans recovered; Bhushan Steel only resolution so far in RBI list of 12 large NPAs

What the rupee’s fall means
Thu, May 24, 2018

Importers are hit, exporters have gained; foreign holidays and education abroad are costlier. With international crude prices rising and India’s trade deficit widening, the economy is badly impacted.

In five years, pvt banks see 450 per cent spike in bad loans
Mon, May 21, 2018

Among private banks, ICICI Bank, whose MD and CEO Chanda Kochhar is facing allegations of conflict of interest while sanctioning loans to the Videocon Group, topped the NPA table with Rs 54,063 crore in bad  loans.

Finance Ministry to select CMDs for three general insurance firms
Fri, May 18, 2018

The search for CMDs is an indication that the merger of these insurers (NIA, UII and Oriental Insurance) is unlikely to happen in the current financial year.

Unwinding of carry trade, FPI outflows hit Rupee
Thu, May 17, 2018

The rupee has fallen 3.8 per cent in the current financial year with the dollar exchange rate dropping from 65 to 68.07 from March 28, 2018 to May 15, 2018.

Peter Moore interview: ‘We’re investing a lot into rapidly expanding our infrastructure here’
Mon, May 14, 2018

Peter Moore, Managing Director (Worldwide public sector, Asia Pacific and Japan), Amazon Web Services (AWS), said: “We’re investing every month into additional capabilities. Every month we’re hiring more people.”

Farm credit: UP, TN forge ahead of Maharashtra, shows RBI data
Sat, May 12, 2018

In other words, while farm credit in Maharashtra has gone up, other states like UP and Tamil Nadu witnessed more credit disbursals to farmers.

Flipkart-walmart deal impact: Grocery retail to become Rs 10,000-crore business in two years, say experts
Fri, May 11, 2018

The deal will also will effectively consolidate the Indian retail sector into a two-player market – Amazon and Walmart -- and the ensuing balance sheet strength will drive investments in infrastructure, especially in sourcing and logistics.

Hemendra Kothari interview: ‘Parted ways with BlackRock as I did not want to be in the minority’
Wed, May 09, 2018

Hemendra Kothari says the growth in the mutual fund industry in the next two years will be higher than in the last two years.

Maharashtra’s outstanding debt highest in country
Sat, Apr 28, 2018

Debt servicing unlikely to cause state any problem as its debt to GSDP ratio is low.

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