Aug 19, 2016 - The making of a global giant: Merger of SBI, associate banks okayed by their boards

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Sree Vijaykumar
Sree Vijaykumar
From the Editor's Desk
When customers enter the Honesty Coffee Shop in Batanes (Philippines), they will never encounter anyone manning the place. They help themselves to a cup of coffee or a bottle of cola, or can munch on biscuits, fried bananas and sweet potatoes that have been prepared and laid out for them at the counter. After a nice meal, they are expected to pay for the service by dropping cash or coins into a wooden "payment box" at the counter and scribble down what they bought on a notebook. The Honesty Coffee Shop has been operational for 17 years now. There is hope for humanity after all! More here

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SIDBI’s Standup Mitra Portal, set up under GOI’s Stand-Up India scheme, reaches over 96,000 loan sanctions

The Standup Mitra Portal, which was set up by Small Industries Development Bank of India (SIDBI), under the guidance of the Department of Financial Services, Ministry of Finance, to pioneer national mission of Stand-Up India has successfully recorded more than 96,000 loan sanctions worth more than Rs 21,000 crore as on September 30, 2020. The portal was launched in April 2016 to extend online financial assistance to the unserved and underserved segment of the society without the need of visiting any bank branch and apply for loan online under the Stand-Up India Scheme.

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Today's TradeBriefs Cartoon

India Streamlines Patent Rules To Promote Ease Of Doing Business

Requirements related to filing of Form 27 and submission of verified English translation of documents have been streamlined.

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We need domestic financing so that we are not dependent on vagaries of global capital: Jayant Sinha

"Its very important for private financing, venture capital and private equity that we need to have a level playing field. The gap now is that we do not have the domestic institutional investors that can enable us to create venture capital funds," Sinha said.

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View: How to make China’s loss in global FDIs India’s gain

In most cases, OECD economies will not move their China-based factories home. More likely is a steady, deliberate shift of marginal foreign direct investment (FDI) away from China and toward emerging economies. This redistribution will not be even — it will reward the winners of a competition among many nations to establish themselves as an attractive alternative to China.

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Banks turn to AI to curtail loan frauds

Having burnt its fingers in the Nirav Modi scam and seen quite a few wilful defaults, Punjab National Bank has decided to outsource its early warning signal (EWS) system

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SBI signs $1-bn loan agreement with Japan Bank for International Co-operation

The loan will provide funds for manufacturers, suppliers and dealers of Japanese automobiles in India

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Axis Bank posts Rs 1,682cr profit for Sept qtr

India Business News: Mumbai: Axis Bank has reported a net profit of Rs 1,682 crore for the quarter ended September as against a loss of Rs 112 crore in year-ago period.

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Facing credit card defaults, banks move to settle dues

Banks and card issuers have managed to show lower NPAs so far due to the moratorium that was valid till August 2020 — the issue of interest waiver is being heard in the Supreme Court.

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Mohit Talwar completes tenure as Max Group Vice Chairman

India's leading multi-business conglomerate Max Group announced today that its Vice Chairman Mohit Talwar, who is approaching retirement age, will relinquish his role as Vice Chairman, Max Group and Managing Director, Max India - the Group'

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Why this growth crisis can be an inflection point for India

One of nation's top fund managers, Navneet Munot, talks about why India should not fall prey to '5% is the new normal' narrative. He suggests key measures India must put in place to become a $5 trillion economy

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Centre raises hopes of free COVID-19 vaccine, but benevolence cant be at the cost of the economy

The same funds could be used to provide food, medical care or support businesses as India looks to revive its economy.

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US elections: What’s at stake for India’s economy?

Four more years of Trump could mean more hardship for Indian firms, but a Biden presidency may not be too different.

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5G: ‘mmWave’ spectrum can trigger USD 150 bn in additional GDP for India, says report

India will benefit significantly from mmWave-enabled 5G, said the latest report by global telecom industry body GSMA.

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