George Mathew

Profile

RBI opposes Govt plan for separate payments regulator
Sat, Oct 20, 2018

Slamming the government’s move to make PRB an independent regulator, the RBI said, “The composition of the PRB is also not in conformity with the announcements made in the Finance Bill by the Finance Minister.”

Data Storage: As deadline ends, many firms yet to comply with RBI norms
Tue, Oct 16, 2018

Payment firms like Visa and MasterCard which currently store and process Indian transactions outside the country fear that shifting the data storage to India will cost them millions of dollars.

Data Storage In India: Visa, Mastercard among 15 payment firms yet to comply with RBI norms
Fri, Oct 12, 2018

According to top-level government sources, out of about 78 payment firms, around 62 have complied with the RBI directive and set up local data storage systems in India.

Under conflict of interest and nepotism cloud, Chanda Kochhar quits ICICI Bank
Fri, Oct 05, 2018

The board decided to appoint Sandeep Bakshi as Managing Director & Chief Executive Officer. His appointment will be for a period of five years until October 3, 2023, subject to regulatory and other approvals.

Sandeep Bakhshi: An ICICI hand for more than 32 years
Fri, Oct 05, 2018

Bakhshi has extensive experience of leading both corporate and retail businesses across the ICICI Group.

Chanda Kochhar: The CEO who rose through the ranks at ICICI
Fri, Oct 05, 2018

Before the story of Chanda’s conflict of interest and quid pro quo broke, pressure had also started building with the divergence in its numbers following the asset quality review by the RBI and build up of bad loans.

We tried to bring in strategic investor, special audit, but nothing worked: Ex-IL&FS Director
Thu, Oct 04, 2018

The ousted board, in a last-ditch attempt, planned a special audit of the group to ascertain the real assets being held by group companies in the wake of a series of defaults.

IL&FS mess got deeper but its top risk committee never met in last two years
Wed, Oct 03, 2018

On Monday, the government said there is deep-rooted mismatch in the debt-equity ratio because of excessive leveraging which has put a question mark on its ability to continue in the hands of the present management.

Revamp plan: Government steps in, names a new board for IL&FS
Tue, Oct 02, 2018

On September 24 and 26, IL&FS Financial Services had defaulted on repayment of commercial papers. Over Rs 5,700-crore worth of debt is due for repayment over the next one year.

IL&FS: Institutions get a breather, board revamp to ease pressure on lenders
Tue, Oct 02, 2018

When contacted, the top official of a financial institution said: “We have escaped (from bailing out IL&FS) for the time being. It was a good decision by the government to reconstitute the IL&FS board.”

Annual General Meeting: To stay afloat, Infrastructure Leasing & Financial Services unveils 3-pt strategy
Sun, Sep 30, 2018

Revamp plan on cards; no concrete plan on funding by institutions; shareholders express concern.

IL&FS defaults, NBFC whiplash: understanding the debt market crisis
Wed, Sep 26, 2018

The panic in the fixed income market due to the IL&FS default has led to a liquidity freeze, and fund managers say it is putting pressure on the equity markets too, especially on HFC and NBFC stocks.

There’s no cause for concern on IL&FS: SBI Chairman Rajnish Kumar
Mon, Sep 24, 2018

There’s no cause for concern. Some solution will have to be found out. We have much bigger problems in other sectors. Resolution will happen in the IL&FS. IL&FS will have to come out with a package.

Free fall
Sun, Sep 23, 2018

With the rupee hitting an all-time low of 72.98 against the US dollar on September 18, The Indian Express examines what a weak currency means for the national economy — and personal finance.

Shareholders of IL&FS yet to decide on bailout
Thu, Sep 20, 2018

The promoters and shareholders are expected to reveal their funding plan by September 29. IL&FS has indicated that it was open to the idea of bringing in a strategic investor to put the group back on track.

BoB, Dena Bank, Vijaya Bank Merger: Bankers say consolidation good for public sector banks
Tue, Sep 18, 2018

Vijaya Bank posted a 43.3 per cent decline in net profit at Rs 144.34 crore for June quarter even though NPA ratio improved. In absolute terms, gross NPAs however rose to Rs 7,579.11 crore as on June 30, 2018 against Rs 6,812.21 crore a year ago.

Kerala floods: Insurers receive Rs 1,500-crore bill
Thu, Sep 13, 2018

Claims due to floods are just 7.5% of the losses, showing the poor insurance penetration in the country.

Videocon loan case: No RBI clean chit yet to ICICI Bank, says still ‘engaged’, probe is ongoing
Fri, Oct 05, 2018

Chanda Kochhar is on leave pending an independent investigation by retired Supreme Court judge, Justice B N Srikrishna, into various allegations against her and the bank.

Pradhan Mantri Fasal Bima Yojana: Farmers wait up to 18 months for claims
Mon, Sep 10, 2018

Two years after the launch of the PMFBY, majority of farmers are still not aware of the scheme.

‘Kerala’s economy likely to bounce back by December’
Wed, Sep 05, 2018

The maximum impact was witnessed by the businesses that have been physically damaged. Also, people who have Rs 100 to spend will spend Rs 90 on building back, said Shyam Srinivasan.

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