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  • MoF asks PSU banks to focus on niche areas, infra sharing | The Financial Express
    asks banks According to the MoF the slippages continue to be higher than the reduction and increasing impaired assets How do the banks plan to tackle this situation The situation requires special focus in banks like Bank of India lOB Indian Overseas Bank Bank of Maharashtra UCO Bank and United Bank of India it said It says asset quality remains a concern for the public sector banks with impaired assets increasing from Rs 6 01 076 crore to Rs 7 00 622 crore which is nearly 12 58 per cent of the total advances Gross non performing assets NPAs increased by 25 19 per cent year on year from Rs 2 51 011 crore to Rs 3 14 230 crore constituting 5 64 per cent of total advances The ministry also sought to know about the steps being taken to improve credit growth What is the status post 50 bps reduction in rates by the RBI and all banks reducing their base rates it asked Historically the credit growth is better in second half of the year starting with the festive season However this year it has failed to pick up There were fresh slippages in loans of Rs 92 406 crore in the half year with a reduction of Rs 54 936 crore hence a net addition of Rs 37 470 crore to the NPAs The recoveries as well as upgradations are down on a year on year basis According to Uday Kotak chief of Kotak Mahindra group the right thing to do is to broad base public ownership of state owned banks Don t privatise but issue new shares to the public and broad base the shareholding below 50 per cent And over time as these banks raise capital government ownership keeps on getting diluted The issue is that if we do that it has to be combined with a very serious desire to fix governance he said in a recent interview to The Indian Express The cumulative net profit for public sector banks came down by 19 66 per cent Y o Y for the half year ended September 2015 from Rs 21 314 crore to Rs 17 124 crore The lower net profits are reflective of increased provisioning because of asset quality issues and low credit growth the note said First Published on January 11 2016 7 48 am Tags PSU Banks Please Wait while comments are loading More on this story Govt to infuse about Rs 5 000 cr in PSU banks this quarter PSU bank employees on strike today operations hit partially PSU bank employees to go on stike tomorrow Calculators Tax Calculator House Loan Calculator Financial Planner Inflation Planner Pension Calculator Employee PF Calculator Equity Screener Auto Loan Retirement Plan Savings Investment Guidance Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries

    Original URL path: http://www.financialexpress.com/article/industry/banking-finance/mof-asks-psu-banks-to-focus-on-niche-areas-infra-sharing/191751/ (2016-02-08)
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  • Rajan’s helping hand to start-ups, RBI to take steps to further ease of doing business | The Financial Express
    being issued separately Raghuram Rajan said In the recently announced action plan for start ups the government has announced exemption of capital gains tax But the exemption comes with a rider that such entities would have to invest capital gains in the Fund of Funds recognised by the government Startup India is about Indian Entrepreneur and foreign investor To ensure that substantial portion of the wealth created through Startup India benefits India Indian Institutional investors must participate in it The Indian entrepreneur and management can be suitably rewarded only if the ESOP Sweat Equity is practical to implement ESOP Sweat Equity shares should be taxed when they actually sell the shares and realize profits not when they are allotted the shares which is only paper money and not real money yet Srikanth Reddy founder chairman Palred Technologies LatestOne com on said on Budget expectation First Published on February 2 2016 11 43 am Tags RBI Monetary Policy Startups Ecosystem Please Wait while comments are loading More on this story RBI Monetary policy A matter of perspectives RBI stance on expected lines Economic affairs secretary RBI monetary policy review Bond yields up as RBI holds rates Calculators Tax Calculator House Loan Calculator Financial Planner Inflation Planner Pension Calculator Employee PF Calculator Equity Screener Auto Loan Retirement Plan Savings Investment Guidance Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2

    Original URL path: http://www.financialexpress.com/article/economy/startups-in-rbi-monetary-policy-review-steps-on-ease-of-doing-business/205688/ (2016-02-08)
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  • RBI sees FY16 growth above World Bank projection | The Financial Express
    The Reserve Bank continues to be accommodative even as it leaves the policy rate unchanged in this review while awaiting further data on the development of inflation Rajan said He added that structural reforms in the forthcoming Union Budget that boost growth while controlling spending will create more space for monetary policy to support growth given the condition retail inflation remains at RBI s target of 5 per cent by end of 2016 17 RBI expects the growth in the next fiscal to strengthen gradually notwithstanding the significant headwinds Weak domestic private investment concerns on stalled projects excess capacity and sluggish external demand dampening export to act as headwinds it said First Published on February 2 2016 2 13 pm Tags GDP Growth Please Wait while comments are loading More on this story GDP growth for 2014 15 marginally revised down to 7 2 per cent CAD to narrow to 0 5 per cent of GDP in 2016 Report India s GDP will grow marginally to 7 7 per cent in FY17 Citigroup Calculators Tax Calculator House Loan Calculator Financial Planner Inflation Planner Pension Calculator Employee PF Calculator Equity Screener Auto Loan Retirement Plan Savings Investment Guidance Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 New Mahindra cars at the Delhi Auto Expo 2016 In the news PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways

    Original URL path: http://www.financialexpress.com/article/economy/rbi-sees-economy-growing-at-7-4-in-fy16-above-world-bank-projection/205778/ (2016-02-08)
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  • Print: RBI on wait and watch mode on 7th Pay Commission – The Financial Express - Page 99
    as to what government does in the Union Budget and what big states are doing with their own state pay commissions Punjab UP WB Kerala and Tamil Nadu all election bound and HP have already announced setting up of their respective Pay Commissions and likely to be followed by the remaining Inflation has evolved closely along the trajectory set by the monetary policy stance With unfavourable base effects on the ebb and benign prices of fruits and vegetables and crude oil the January 2016 target of 6 per cent should be met Rajan said but added a caveat on the impact of the seventh pay commission implementation on the price index Going forward under the assumption of a normal monsoon and the current level of international crude oil prices and exchange rates inflation is expected to be inertial and be around 5 per cent by the end of fiscal 2017 RBI said However the implementation of the Seventh Central Pay Commission award which has not been factored into these projections will impart upward momentum to this trajectory for a period of one to two years The Reserve Bank will adjust the forecast path as and when more clarity emerges on

    Original URL path: http://www.financialexpress.com/article/economy/rbi-monetary-policy-on-7th-pay-commission-recommendation-implementation/205748/99/print/ (2016-02-08)
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  • Banks, Reserve Bank square off over cash shortages | The Financial Express
    lending rates by only 60 bps India s daily money market cash deficit has stayed well above the RBI s comfort level of 1 trillion rupees 14 81 billion since the start of December as the government has pared spending ahead of the end of the fiscal year in March That has kept short term interest rates high sending three month commercial paper above 9 percent for the first time since March Consequently the RBI has stepped up bond purchases buying in 200 billion rupees 2 96 billion worth since December and planning to take another 100 billion rupees worth next week But even after those purchases the total amount of debt bought since Rajan s appointment in late 2013 would total only 900 billion rupees significantly less than the 1 5 trillion rupees his predecessor bought in a single year A senior official with a state owned bank said the RBI needed to do even more and cut reserve requirements as well but suspected that such a call would be rejected We believe that liquidity is at this point of time quite stressed And there is definitely scope for doing something for it and they RBI do not believe that said the official At a small gathering with reporters on Tuesday Rajan said calls for the RBI to increase bond purchases or cutting reserve requirements were the standard menu markets always wanted What we would like to know is this genuinely about liquidity Or is it about rates they would like to come down he said If it s about liquidity that is something we can fix If it s about rates being too high that s a market determined factor Bankers say they expect Rajan will propose tweaking existing repo structures unveiling longer debt maturities or resort to more technical measures But they say these actions will prove ineffective I don t think adding duration alone will help the state owned bank official said We can try it out to see how it works But I am not too sure that it will really resolve the issue First Published on February 5 2016 1 32 pm Tags Raghuram Rajan RBI Please Wait while comments are loading More on this story RBI s booster dose for startups Interest rates not holding back economy says RBI Guv Raghuram Rajan Raghuram Rajan sees himself teaching in US in five years Calculators Tax Calculator House Loan Calculator Financial Planner Inflation Planner Pension Calculator Employee PF Calculator Equity Screener Auto Loan Retirement Plan Savings Investment Guidance Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85

    Original URL path: http://www.financialexpress.com/article/economy/indian-lenders-central-bank-square-off-over-cash-shortages/207628/ (2016-02-08)
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  • Print: Planning to invest in retirement home? Coimbatore and Bhiwadi could be a good choice – The Financial Express - Page 99
    homes have evolved as a viable option for many old citizens in the country Considering the fact that at present about 98 million Indians are above 60 years of age which is expected to increase to 240 million by 2050 demand for the senior living townships in the country is expected to gain momentum Vikas Malpani co founder and head of CommonFloor Groups said Although retirement homes are a niche residential segment but there has been a paradigm shift in the perception and thus it has been witnessing an increasing presence across various cities in India This has prompted many developers to cash in on the growing opportunity and come up with projects targetting the senior citizens who vie for a hassle free and independent life through retirement home With the emergence of organised developers in this segment accessibility to quality houses with suitable amenities have increased considerably as the segment offers a practical solution for senior citizens by allowing them to lead their lives comfortably though these community livings According to Cushman Wakefield the senior living spaces in India include independent living units for senior citizens above 55 years with good health and assisted living for senior citizens in need of assistance of nurse workers servants Realising the potential of this segment there are talks about establishing continuing care centers which are integrated campus developments providing special services including nursing care and space for independent and assisted living all in one location said Khurshed Gandhi managing director consulting Cushman Wakefield These retirement homes are not just confined to Tier 1 cities but are slowly catching up in Tier 2 and Tier 3 cities as well With their social medical and physical infrastructure these cities through their one campus offer both independent and assisted living along with skilled nursing care

    Original URL path: http://www.financialexpress.com/article/personal-finance/planning-to-invest-in-retirement-home-coimbatore-and-bhiwadi-a-good-choice/208099/99/print/ (2016-02-08)
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  • Editorial: Getting rid of dead wood | The Financial Express
    then went on to say according to the DoPT circular For better administration it is necessary to chop off dead wood but the order of compulsory retirement can be passed after having due regard to the entire service record of the officer In another case State of UP vs Vijay Kumar Jain the court had said the government could compulsorily retire an employee if conduct of a government employee becomes unbecoming or obstructs the efficiency in public services The problem however is that compulsory retirement can also become a tool to persecute bureaucrats since the SC orders can be interpreted quite widely Indeed it is worrying to see the DoPT circular cite an SC ruling S Ramachandra Raju vs State of Orissa which says that while there may not be sufficient evidence to take punitive disciplinary action but his conduct and reputation is such that his continuance in service would be a menace to public service and injurious to public interest While many would sympathise with this view it is prone to serious abuse and may be difficult to defend in court The government for its part has tried to make the process as abuse free as possible by saying that the officers entire service record is to be kept in mind before compulsory retirement is considered and laid down rules for setting up review committees for this While the courts will eventually decide if the process is fair it is certain many of those asked to retire will head to court the fact that the review will have to be conducted before an officer is 50 55 years old means the bureaucracy has been put on notice Perform or perish is the new mantra First Published on September 18 2015 12 13 am Tags Retirement Supreme Court Please Wait while comments are loading More on this story Planning to invest in retirement home Coimbatore and Bhiwadi could be a good choice Drunk Salman Khan was behind wheels on fateful night Maharashtra to SC Plea in SC against PM for alleged poll code violation Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 New Mahindra cars at the Delhi Auto Expo 2016 In the news PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 India s biotech moment A made in India Zika virus vaccine Sanam Teri Kasam collections at Rs 1 25 cr Valentine s Day booster shot missing New Mahindra cars at the Delhi Auto Expo 2016

    Original URL path: http://www.financialexpress.com/article/fe-columnist/getting-rid-of-dead-wood-govt-uses-supreme-court-rulings-to-issue-circular-on-babus/137490/ (2016-02-08)
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  • Saving for retirement? Why annuity products make sense | The Financial Express
    provision for payment of 50 of annuity to the spouse of the annuitant after the death of the annuitant Annuity for life with the guarantee of payment of 100 of annuity to the spouse after the death of the annuitant Annuity for life with the guarantee of payment of 100 of annuity to the spouse after the death of the annuitant with return of purchase price on death of the spouse Most people buy annuity with return of purchase price Since the longevity has increased when the annuitant and his spouse die the children would not depend on their parent s money So the annuitant can easily increase his annuity amount by opting for a pension without return of purchase price Those without dependants can increase the annuity rate further by opting for an annuity for life Some insurers give additional pension for higher purchase amount say when the purchase price is above R5 lakh Many insurers also give incentives for buying immediate annuity online For example under a popular product of a leading insurer if an annuitant opts for annuity for life with an option for 100 of pension for his wife after his death without return of purchase price the return can be as high as 8 03 If the annuitant has no dependant and opts for annuity for life i e an annuity payable as long as only he is alive the return can be as high as 9 35 If someone buys this product at a higher age he will get higher return Deferred annuity policies are more of endowment type where regular premiums are payable by the policyholder In some products the annuitant can pay just a single premium or pay premiums for a limited period only Minimum age at entry can be as low as 20 Annuity generally starts when one is at least 55 Like any other endowment policy this policy also participates in profits Many insurers give guaranteed additions too in the initial years At maturity a good pension corpus in created The annuitant has an option to commute a portion of it The balance amount has to be used in buying a deferred annuity at the prevailing annuity rate The writer is research associate ZTC Kolkata LIC of India Views are personal First Published on August 18 2015 12 03 am Tags Retirement Please Wait while comments are loading More on this story Planning to invest in retirement home Coimbatore and Bhiwadi could be a good choice Income tax laws and retirement Top 7 empowering points Editorial Getting rid of dead wood Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again

    Original URL path: http://www.financialexpress.com/article/personal-finance/saving-for-retirement-why-annuity-products-make-sense/120909/ (2016-02-08)
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