Jul 5, 2016 - Why we need to worry about Indian banking

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Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
"Why is it that the normal diet is three meals a day plus snacks? It isn't that it's the healthiest eating pattern. There are a lot of pressures to have that eating pattern, there's a lot of money involved. The food industry - are they going to make money from skipping breakfast like I did today? No, they're going to lose money. If people fast, the food industry loses money. What about the pharmaceutical industries? What if people do some intermittent fasting, exercise periodically and are very healthy, is the pharmaceutical industry going to make any money on healthy people?" More here

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Today's TradeBriefs Cartoon

[Startup Bharat] How fintech startup Finology grew from a YouTube channel to Rs 2.2 Cr annual revenue

Raipur-based financial education and investment platform Finology aims to be a one-point solution for investors by facilitating education, advisory, and transactions.

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Canara Bank 'cheated' of Rs 174.89 Cr: CBI searches premises of Punjab Basmati Rice Ltd in Amritsar

​​The searches took place at the premises of the company office and accused directors Kulwinder Singh Makhani, Jasmeet Kaur and Manjeet Singh Makhani in Punjab's Amritsar, officials said.

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Zetwerk, an Indian B2B marketplace for manufacturing items, raises $21 million

Zetwerk, an Indian business-to-business marketplace for manufacturing items, has raised $21 million in a new financing round as it looks to scale its operations in the nation and help local businesses find customers overseas. San Francisco-based investment firm Greenoaks led the two-year-old Indian

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Niti Aayog plans to hire chief economist

The post will attract remuneration of up to Rs 3,30,000 a month. The appointment would initially be for three years, and can be extended up to five years, depending on the requirements or till the age of 60 years, whichever is earlier.

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Bank credit grows 6.18%, deposits 11%: RBI data

Rating agency Crisil in a recent report said bank credit growth is likely to nosedive to a multi-decadal low of 0-1 per cent in 2020-21 as economic activity is sharply impacted by the COVID-19 pandemic.

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What India's PMC Bank scam can teach you about managing money

The moment people put their money in a bank, they assume it is safe, forgetting that banking is just another business.

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HDFC Bank to offer contactless, instant auto loans in 1,000 cities

India Business News: HDFC Bank has launched pre-approved instant auto loans to its customers across 1,000 cities. HDFC Bank’s online auto loan offering. ZipDrive, is a tec

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Axis Bank to close UK subsidiary, focus on Indian business

Axis Bank share price fell after two sessions of gain today despite the lender' s board clearing the proposal to raise up to Rs 15,000 crore to increase capital buffers amid coronavirus pandemic. Share price of Axis Bank fell 2.76% to Rs 421.30 against p

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RBI supplies liquidity to Indian shadow banks 'to avoid systemic risk'

Non-banking financial sector has faced major difficulties over last two years

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India needs Rs 50-60 lakh cr foreign investments to bolster coronavirus-hit economy: Gadkari

India needs foreign direct investments worth Rs 50 to 60 lakh crore and the money can be tapped mainly through infrastructure projects as well as MSME sector to accelerate the wheels of coronavirus-hit economy, according to Union minister Nitin Gadkari.

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KKR to buy JB Chemicals Pharma in $500 million deal

The stock has appreciated 60% in the past three months in anticipation of a transaction.

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Post lockdown, there is a big shift in sectors finding favour with PE investors: EY

‘A large part of PE investments is due to the spate of announcements by Jio platforms which is an outlier and a one-off.

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Exclusive | Ex-ICICI Bank executive Murali Ramakrishnan likely to be named as CEO of South Indian Bank

If the proposed move fructifies, Ramakrishnan would be the first MD & CEO of South Indian Bank coming on board from a private sector lender.

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Robust growth, shifting supply chain draw PE firms to speciality chemicals biz

Within the broader manufacturing space, speciality chemicals is one of the few bright spots, which has witnessed strong growth both in the domestic market, as well as on the export side

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Building robust trade practices: Protectionism and India in the age of an open economy

While India has projected itself as a balanced inward- and outward-oriented economy, the accuracy of that assertion will have to be tested, especially in light of the stringent amendments introduced in the Customs Act, 1962.

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India’s economy may contract more than estimated earlier; firms won’t operate at over 70% capacity

The fall in demand, job loss, and low purchasing power amid the coronavirus-led economic crisis may lead India’s GDP to shrink by 6.4 per cent.

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Axis Bank gets board’s nod to raise up to Rs 15,000 crore

Axis Bank's overall capital adequacy stood at 17.53% with a common equity tier I (CET I) ratio of 13.34% as at the end of FY20.

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JSW Group to boycott China: Parth Jindal assures to cut imports from China to NIL in two years

JSW Group has a net annual import of $400 million from China and it pledges to bring this down to zero in the next 24 months.

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Ease of doing business: India’s rank improves, but ground reality different

With innumerable acts, rules and regulations to abide by, businesses in India are weighed down by compliance issues.

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Modi govt’s move to disinvest in LIC may well end up destroying the bluechip public sector company

Govt is already engaged in dealing with bids from consulting firms, investment bankers and financial institutions, to be opened on July 14. That will be the beginning of the process of killing the LIC.

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MSMEs key to economic revival; India needs Rs 50-60 lakh cr in FDI to reverse coronavirus blow: Gadkari

Credit and finance for MSMEs: With coronavirus puncturing India’s economic growth, the country now needs Foreign Direct Investment worth Rs 50 to 60 lakh crore to get back on the growth track and increase liquidity into the market.

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Corona Impact: Worried bankers want to function at 50% strength

All India Bank Employees' Association (AIBEA) has written to the chief secretary of Maharashtra, and Indian Banks’ Association (IBA) to allow banks to function at 50% strength.

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EMI Moratorium: Opting for home loan moratorium? How will this impact your tax benefits?

As home loan repayment is eligible for tax deductions, can opting for a home loan moratorium affect one's tax benefits?

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