But remember that many banks such as Bank of India, Bank of Maharashtra and OBC that were under PCA have successfully come out of the tag. In the private sector, Dhanlaxmi Bank too managed to shed the tag. Much will also depend upon the economic recovery and ability of borrowers to generate cash flows to repay.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app. … [Read more...] about RBI wants to punish weaker banks that are perennially sick. But how far can it go?
Years for generation y
Since coming to power in 2014, the Narendra Modi-government has pumped in around Rs 2.8 lakh crore in state-run banks. In FY20 so far, the government has infused close to Rs 70,000 crore as capital. But that was inadequate considering the fact that banks required a substantial chunk of money to clean up their bad loans besides meeting their Basel-III requirements. … [Read more...] about Budget 2020: What lies in store for state-run banks ravaged by bad debt?
R N Khanna, founder and chairman of C&S Electric, said in the statement, "Having been a leading participant in the Indian switchgear market since 1966, we are now delighted to be part of the Siemens family, an organisation that has pioneered and developed the switchgear market in India and globally for many decades." … [Read more...] about Siemens inks pact to acquire 99% equity in C&S Electric for Rs 2,100 crore