City Union Bank has beaten larger rivals such as HDFC Bank & SBI, thanks to its successful record in lending to SME sector while keeping a lid on bad loans.
On Wednesday, the CEO and director of the Bank of Maharashtra were booked in a Rs 3,000-crore default case involving real estate developer DSK Group. The Indian Banks’ Association has condemned the arrests of bankers. Experts weigh in.
With general elections due next year, the bad bank idea looks like a politically expedient proposal of dubious economic merit.
Bad ideas keep returning to...
We need to give credit to our attention-starved scientists for their true achievements. Perhaps a good way to start would be to not mix science with religion.
The 125 APAs include 86 Unilateral APAs (UAPAs) and 39 Bilateral APAs (BAPAs). The total number of APAs since the start of the APA programme has risen to 641, with 506 UAPAs and 135 BAPAs.
1. Ms Nirmala Sitharaman, our Union Finance minister, has made an important announcement yesterday about merger of many public sector banks (PSBs) and it is a welcome announcement. It is also my wish that the Union cabinet soon takes a decision regarding according much-desirable autonomy to Boards of Directors of all the PSBs Mergers of PSBs would definitely provide strength to the PSBs. (2) In this context we cannot overlook fact that during last few years government has been compelled to infuse more and more funds in weak PSBs. (3) One can understand if employees have genuine grievances about mergers of PSBs and they have to be addressed to. But I say that United Forum of Bank Employees, (UFBU) as also the Officers’ Associations would be making a grave mistake if they oppose mergers just announced by Ms Nirmala Sitharaman. 4. Many of these Unions and Associations are controlled by the left parties. The Banks’ Union leadership is strongly opposed to BJP and one can understand that as ideologies of the Left and BJP are totally different. But citizen-voters like me wish that UFBU should not think of calling employees’ strike just to say that they are opposed to PSBs’ mergers. 5. There is little doubt that consolidation of PSBs would be a big step in meeting government’s goal of a 5 trillion economy.
According to news reports on 30 August , 2019 , RBI Annual Report has suggested that bank frauds saw a whopping 74% jump in value in 2018-19 as compared to the previous year. In terms of number of cases , it was up by 15%. Besides , GDP for Q1 of 2019-20 covering April -June in 2019 reportedly grew at 5% , lowest in over six years past. In the context of these major worrisome concerns in financial and economic sector in India , it is apt to refer readers to this Vedic astrology writer’s predictive alerts in article – “ The year 2019 astrologically for India” – published last year 2018 on 7 October at theindiapost.com. The predictive alert for more care and appropriate strategy reads like this in the article :-
“ February –March onward in 2019……………….Some sort of crisis or worrisome concerns in financial and economic sector look to be there.
July to September in 2019. These three months may also call for more care and appropriate strategy against floods , landslides , etc. Over reaction may not drag us to war or wastage. Distribution of central finances may be disputed by a State or States. Liabilities or restrictive complexion of the past policies may weigh heavily on the success or completion of the ongoing ambitious projects , particularly those related to energy generation.” These themes were also dealt with in predictive alerts in another article – “ World trends in April to August 2019” – brought to public domain widely in March and subsequently on 5 April 2019. The alert had said that a period of four and a half months from mid- April to August , particularly June around , in present year 2019 looked to be having major worrisome concerns in – “ financial and economic sector in India as well” calling for more care and appropriate strategy. A review of planetary impacts around May had suggested that such trends could reach out as far as mid-October , particularly about 7 August to 9 October , in 2019.
For all it’s so called differences with the Congress and the left, this government prescribed more of the same. A government that has learnt nothing and forgotten nothing. Just like the Air India – Indian airlines merger in the past, which continues to bleed the tax payer to date, now a PSB merger which promises more of the same. A government that wishes to run airlines, Banks, temples, hotels and what have you, all at tax payer’s expense. Instead of addressing the root cause, the government indulges in window dressing.
1. Ms Nirmala Sitharaman, our Union Finance minister, has made an important announcement yesterday about merger of many public sector banks (PSBs) and it is a welcome announcement. It is also my wish that the Union cabinet soon takes a decision regarding according much-desirable autonomy to Boards of Directors of all the PSBs Mergers of PSBs would definitely provide strength to the PSBs. (2) In this context we cannot overlook fact that during last few years government has been compelled to infuse more and more funds in weak PSBs. (3) One can understand if employees have genuine grievances about mergers of PSBs and they have to be addressed to. But I say that United Forum of Bank Employees, (UFBU) as also the Officers’ Associations would be making a grave mistake if they oppose mergers just announced by Ms Nirmala Sitharaman. 4. Many of these Unions and Associations are controlled by the left parties. The Banks’ Union leadership is strongly opposed to BJP and one can understand that as ideologies of the Left and BJP are totally different. But citizen-voters like me wish that UFBU should not think of calling employees’ strike just to say that they are opposed to PSBs’ mergers. 5. There is little doubt that consolidation of PSBs would be a big step in meeting government’s goal of a 5 trillion economy.
According to news reports on 30 August , 2019 , RBI Annual Report has suggested that bank frauds saw a whopping 74% jump in value in 2018-19 as compared to the previous year. In terms of number of cases , it was up by 15%. Besides , GDP for Q1 of 2019-20 covering April -June in 2019 reportedly grew at 5% , lowest in over six years past. In the context of these major worrisome concerns in financial and economic sector in India , it is apt to refer readers to this Vedic astrology writer’s predictive alerts in article – “ The year 2019 astrologically for India” – published last year 2018 on 7 October at theindiapost.com. The predictive alert for more care and appropriate strategy reads like this in the article :-
“ February –March onward in 2019……………….Some sort of crisis or worrisome concerns in financial and economic sector look to be there.
July to September in 2019. These three months may also call for more care and appropriate strategy against floods , landslides , etc. Over reaction may not drag us to war or wastage. Distribution of central finances may be disputed by a State or States. Liabilities or restrictive complexion of the past policies may weigh heavily on the success or completion of the ongoing ambitious projects , particularly those related to energy generation.” These themes were also dealt with in predictive alerts in another article – “ World trends in April to August 2019” – brought to public domain widely in March and subsequently on 5 April 2019. The alert had said that a period of four and a half months from mid- April to August , particularly June around , in present year 2019 looked to be having major worrisome concerns in – “ financial and economic sector in India as well” calling for more care and appropriate strategy. A review of planetary impacts around May had suggested that such trends could reach out as far as mid-October , particularly about 7 August to 9 October , in 2019.
For all it’s so called differences with the Congress and the left, this government prescribed more of the same. A government that has learnt nothing and forgotten nothing. Just like the Air India – Indian airlines merger in the past, which continues to bleed the tax payer to date, now a PSB merger which promises more of the same. A government that wishes to run airlines, Banks, temples, hotels and what have you, all at tax payer’s expense. Instead of addressing the root cause, the government indulges in window dressing.