Non corporate finance meaning

Rajnish Kumar’s three-year term as State Bank of India (SBI) Chairman was a roller-coaster ride from Day 1. A pandemic, a private bank bailout and a deep economic slowdown – all happened during his term. Kumar played a key role in bailing out Yes Bank. During his tenure, SBI has substantially cut down the chunk of toxic assets and successfully completed the amalgamation process of its associates. In an exclusive interview with Moneycontrol, Kumar opened up about the challenges he faced. Edited excerpts: How tough was your three years as SBI Chairman? Kumar : There were many challenges in the last three years. When I took charge, the merger process (with associates) was on, and then AQR (asset quality review) happened. There was significant stress on the books. And, of course, IBC (insolvency and bankruptcy code) also happened during that period. Having said that, I feel one can get tested only when there are challenges. If you are only doing your routine job, there is … [Read more...] about EXCLUSIVE: SBI needs to be watchful about corporate NPAs, COVID-19 impact, says Rajnish Kumar

When the government announced a vaccination programme for 12-14-year olds earlier this year, Neeta Singh (name changed), an educator at one of India’s biggest edtech unicorns, was excited as she thought she would be back in the classroom after almost two years. Singh said she was very keen to get back to her previous employer, a tutoring company, despite the lower compensation as she wanted to get out of the ‘extremely toxic’ culture at the edtech unicorn she had worked at for almost 15 months. “I am a single mother of two and I cannot stop working as both my kids are still in school. The local tuition centre I was working at had asked us to look for different jobs in March 2020, when the government announced the first lockdown,” said Singh. “Back then e-learning platforms were offering huge packages so I accepted it. I thought working from home would be better as I would be able to manage things better. But my incentives and job security were linked to the number of classes, … [Read more...] about Layoffs, restructuring, slowdown: India’s edtech firms are struggling post-pandemic

Representative image Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × HDFC Bank proposes to double its network of branches in the next three to five years by adding 1,500 to 2,000 branches annually, which would akin to adding a new HDFC Bank every five years, said its managing director and CEO Sashidhar Jagdishan. Outlining justification for merger of HDFC with the HDFC Bank in his letter to shareholders in the annual report 2021-22, Jagdishan said: "The proposed merger adds an entirely different dimension to the future. We believe that the runway is huge, and we can potentially add an HDFC Bank every five years." He further said that the bank proposes to nearly double its network of branches in the next three to five years by opening 1,500 to 2,000 branches every year. Currently it has over 6,000 branches across India. "The … [Read more...] about HDFC Bank to add 1,500-2,000 branches every year for 5 years

Yet the small rebound after Jay Powell’s press conference fizzled out in a day and the markets plunged again Dear Reader , Sentiment in the equity markets is at extreme lows. A Bank of America survey of global fund managers, carried out between the 3 rd and 10 th of this month, found that global growth optimism was at an all-time low, that fear of stagflation was the highest since the Global Financial Crisis, and their outlook on corporate profits the worst since the Lehman bust. Even before the Fed meeting, therefore, market sentiment was terrible, but a 75 basis point hike was already baked in , as was another 75 bps hike at the July meeting. With so much pessimism in the air, it was an ideal setting for a nice bear market rally. Yet the small rebound after Jay Powell’s press conference fizzled out in a day and the markets plunged again. What could be the reason? Yes, Powell was insistent that he was determined to stamp out inflation. But the markets already … [Read more...] about Moneycontrol Pro Weekender | When Jerome Powell sneezes…