RBI outlines broad plans on $150 billion bank bad loan resolution

RBI outlines broad plans on $150 billion bank bad loan resolution
Standard

RBI outlines broad plans on $150 billion bank bad loan resolution

Mumbai: The Reserve Bank of India (RBI) on Monday outlined the outline of a plan to solve the problem of $ 150 billion of bad debt that plagues banks.

The move comes two weeks after the Indian government changed the rules, giving the central bank more power to deal with deteriorating loans.

Among plans announced Monday night, the RBI said it revised and revised the current guidelines for the restructuring of stressed loans. He is also working on a framework to help “facilitate objective and coherent decision making” for cases that may be subject to insolvency courts.

In order to prevent borrowers from seeking credit ratings, the RBI said that it “explored the possibility that the assessment scores are determined by the Reserve Bank itself and paid for by a fund created from the banks And the Reserve Bank “.

The RBI did not explain how the new system would work, but some have tentatively welcomed the move as a positive step.

“So far we have ignored a company if its rating was made by a rating agency considers less. But now, the RBI’s criteria in the assignment of ratings should help us to better clarify how we evaluate the odds,” said a major treasury Of a private sector bank.

The slowdown in economic growth and, in some cases, impaired lending practices were attributed to deteriorated loans higher, more than 20 majority-owned government banks that have the most poor resources.

The resolution of the problem loans problem is the centerpiece of the economic policy of the government of Prime Minister Narendra Modi and has issued an executive mandate earlier this month to change the rules of the country’s banking regulatory law.

In the expected increase in bankruptcy under the Bankruptcy and Insolvency Code, the RBI said it had already requested information from banks on the current state of their large stressed assets. The regulator said he plans to form a separate panel, which consists mainly of independent members, to advise on this.

The central bank said in the near future will also meet with stakeholders, including banks, asset reconstruction companies, rating agencies, and private equity firms, among others, for their cooperation and coordination.

In addition, the RBI said it would expand a follow-up committee to guide banks in restructuring the deteriorating loans.

In addition to the new members, the scope of the panel will be expanded to go beyond the limited mandate of the cases currently handled, the regulator said.

Tata Sons hires Saurabh Agrawal as group CFO

Tata Sons hires Saurabh Agrawal as group CFO
Standard

Tata Sons hires Saurabh Agrawal as group CFO

Tata Group President N Chandrasekaran said on Monday a key recruitment holding company Tata Sons veteran banker Saurabh Agrawal as CFO.

Agrawal, who will be joining in July, is currently the director of strategy with Aditya Birla Group. As CFO Group to Tata Sons, which will focus on the recovery of certain companies with losses on the track. Agrawal played a key role in managing the merger operation Idea-Vodafone, and merger-Grasim Aditya Birla Nuvo for the Birla entity. This will be the second major appointment of Chandrasekaran, following that of Ankur Verma, former managing director of investment banking for Bank of America Merrill Lynch, who joined the Tata Group in March.

Prior to Birla’s work, Agrawal led Standard Chartered Bank corporate finance in India and South Asia. He also served as director of investment banking for DSP Merrill Lynch, where he worked with Chandrasekaran on Tata’s Initial Public Offering in 2004, along with other acquisitions.
“Agrawal brings extensive knowledge of the capital markets and experience in different sectors of this critical leadership role in the Tata Group.His experience will help us to manage rigor and synergy in capital allocation decisions, investment management , As well as the consolidation and optimization of the group’s business portfolio, “said Chandrasekaran.

“I am honored to be part of the Tata Group. This is an exciting time for the group under the leadership of Chandrasekaran,” said Agrawal, IIT Roorkee graduate, graduated from IIM Calcutta.

One of the complaints was that Tata Group patriarch Ratan Tata against former Tata Sons chairman Cyrus Mistry was that he had not appointed the group’s chief financial officer after the release of Ishaat Hussain as Tata Sons CFO in 2012.

The financial director of the group is important and is considered a second link between Tata Sons and its subsidiaries, after the president. Hussain, for example, joined the Tata Sons board as chief executive in July 1999 and also was director of several companies, including Tata Tata Industries, Tata Steel and Voltas. He was also the President of Voltas and Tata Sky.

Group initiates said Agrawal quit because at least three entities – Tata Teleservices, the Mundra project to Tata Power and operations in the UK – Tata Steel need immediate attention.

In addition to making entities that are not profitable and allocate capital through the companies, Chandra and the group’s chief financial officer will also ensure that Tata Sons gives enough dividends to Tata Trust, which holds a 66% stake in ‘ business. One of the reasons given by Tata for the removal of Mistry was that he was not able to do so.

Live: Sensex Falls Nearly 200 Points, Sun Pharma Shares Slump 8%

Live: Sensex Falls Nearly 200 Points, Sun Pharma Shares Slump 8%
Standard

Live: Sensex Falls Nearly 200 Points, Sun Pharma Shares Slump 8%

The Sensex fell nearly 200 points and then moved Nifty 9400 due to weak pharmaceutical capital, consumer goods, banking, real estate and energy. Pharmaceutical stocks were among the most affected by trade so far with top-tier pharma stocks like Sun Pharma, Cipla and Aurobindo Pharma, ranging from 3 to 5 percent each. Analysts say the Nifty is likely to trade in the range of 9400 to 9500 and on the rise and any leaks on either side of the ridge will determine the trend of the future index.

12:34: The width of the market is still very bearish, while 2122 stocks fall, while stocks of 409 advance on the BSE.
12:05: shares of gas company owned GAIL India, have fallen more than 6 percent to Rs 365.50 on Tuesday after reporting after Monday market hours, 69% of its profit. For the quarter from January to March due to the value of its investment in the Dabhol power plant. Gail India reported a gain of Rs. Rs 260 million for 4Q against Rs. 832 crore profit for the same period the previous year. Analysts surveyed by NDTV Profit had estimated that the net profit of Rs. 1,113 crore.

11:30: Real estate stocks reflect the selling pressure. The BSE index of real estate fell by 2.32 percent; HDIL was the top loser of this space, up to 5.47% Rs. 84.75. DLF, Unitech, Oberoi Realty, Indiabulls Real Estate, Phoenix Ltd and Sobha Ltd. were also among the losers, behind 1 to 3.65% each.

11:11: Videocon Industries was the top loser of small space cap 20 percent at Rs 64.80. Tanla Solutions Dhunseri Petrochem Limited, Indo Count Industries, Den Networks, Mirza International and Sharda Cropchem were also among the losers, front To 7.8 to 15% each.

10:50 Shares of Sun Pharma extend losses, fell 7 percent to reach a 52 week low of Rs 589 ..

10h30: the width of the market was extremely bearish, since 1969 shares declined, while only 269 advanced to the Bombay Stock Exchange.

10:16 am Sun Pharma shares fall 6 percent to reach a new 52-week high Rs. 601 after its US-based subsidiary, Taro Pharma has reported lower than expected earnings.

10:06: Sales pressure visible through the table excludes some IT stocks.

9:59 am: Adani companies was the top loser of the average space, 7% to Rs 112.60 .. Reliance Communications, Bank of India, Indian Bank, Adani Power, Havells India, GMR Infra, minimum required limit, Infra and Jindal Steel were also among the losers, down from 4.6 to 7% each.

09:45: GAIL India was one of the best Nifty losers, a 5.2 percent to Rs 369.85 after the company unveiled the market hours reported on Monday a 69% fall in net income in the fourth. Quarter after realizing the value of its investment in the Dabhol power plant.

Net income for the January-March quarter of the last fiscal year was Rs. Rs 260.16 million or Rs. 1.54 per share, compared to Rs. Rs 832.13 million or Rs. 4.92 per share, net profit for the same period last year.

9:41: The shares of the PSU banks extended their movement yesterday. The sub-index of the PSU PSSE NSE-Nifty bank index fell 1.73 percent; Bank of India was the best loser in this space 5% to Rs. 150. Oriental Bank of Commerce, Bank of Allahabad, Union Bank, Punjab National Bank, Andhra Bank, Baroda Bank and IDBI bank were among the laggards.

9:31 am: Broad markets posted a lower performance analysis. The indices of the mid-body and the small BSE lid fell by more than 1.5% each.

09:24: In the Nifty stock basket, 37 was reduced, while the advanced 14. Sun Pharma was the loser at the top Nifty, 5% at Rs. 607. GAIL India, Aurobindo Pharma, Cipla, Baroda Bank, Indiabulls Housing Finance, State Bank of India, Harbors Adani, Tata Power and Ambuja Cements were also among the losers, down 1.6 to 4.7 percent each.

09:20: Stock markets decline after a positive start. Sensex drops 56 points at 30515 and Nifty slides 24 9415.

Xiaomi Redmi 4 review: Redmi 3S Prime HD remaster

Xiaomi Redmi 4 review: Redmi 3S Prime HD remaster
Standard

Xiaomi Redmi 4 review: Redmi 3S Prime HD remaster

The new redmi 4 Xiaomi borrows greatly from last year’s redmi 3S (Prime) in almost all major departments, however, when first seen and carried out in the car, is a whole new ball game . This is refining the jagged edges of the original classic, a trait that only the best in the company could deepen.

Xiaomi already had a fantastic phone on redmi 3S (Prime), after all. Not surprisingly, it has sold more than 40 lakh phone units in India in just 9 months. There was so much he could add to his successor as to justify an update. Look.

Design and quality of construction
Redmi 4 closely resembles redmi. Note 4. Only smaller. Okay, the redmi 4 is for someone who prefers a smaller phone. An accuracy of 5 inches. Because it takes a lot to the aesthetic of the Redmi Design Note 4, the 4 Redmi invariably shares both its inevitable and disadvantages.
It is a spectator, the redmi 4. There is absolutely no way in this. As a Redmi 4 note, the Redmi 4 also comes with a matt black (and gold) that gives it a sleek look and feel challenging for its most affordable price. It looks like an expensive phone, which is not cheap.

The first redmi 3S comes with a full metal body: a first for any smartphone in and around its product category. With redmi 4 Xiaomi added a 2.5D curved glass with rounded edges and polished antenna lines, into the mix. Xiaomi has stuck with the correct formula “if it is not broken, do not fix it” here. Which is good because there was not much to complain about the Redmi 3S Primer design anyway. At the same time, additions such as acoustic fan 2.5D curved glass and the bottom of the trigger upper fan that redmi 4 did not end up being a 3S redmi recycled Prime. Like the first redmi 3S, the crack redmi 4 on a large 4100 mAh battery inside, and like the first redmi 3S, the redmi 4 also practically feel the same, no matter how it holds it. An all-metal construction, however, comes at a price. Things are bound to be a bit slippery at times. But in the case of redmi 3S, a strip of chrome in the front (and chaflanes) contributed a lot to balance the equation and improve the take, the redmi 4 – because it is much simpler compared – it is not the all metal smartphone More ergonomic (the prize) as his predecessor was back in the day. The Redmi 3S Prime is still almost the King in the North in this sense.

The redmi 4 is refining the jagged edges of redmi 3S, a feature that only the best in the company could deepen

Going up the redmi 4 – just like the redmi 3S – has always opened fingerprint scanner (it works fine most of the time, unless you have fat or sweat fingers) and physical capacitive keys in before ( Always) is not backlit. The power button and the rocker are straight, while the two-SIM card slot is on the left. Overall, the Redmi 4 is a well-designed smartphone that shouts prime from every corner and corner, just like its predecessor. In any case, it is even better than the first redmi 3S.

to exhibit
The redmi 4, like redmi 3S Prime, comes with a 5 “IPS 720p LCD. Brightness levels are more or less adequate and adaptive brightness functions as it should. The colors are rich and vibrant – a bit hot by default – but there is a manual correction mode on the inside that achieves better results, albeit slightly. There is also a built-in playback mode that changes color to a warmer finish of the spectrum for night reading.

Paytm Payments Bank Launched: Here’s What It Means for You

Paytm Payments Bank Launched: Here's What It Means for You
Standard

Paytm Payments Bank Launched: Here’s What It Means for You

 

Tuesday Paytm announced the launch of its payment bank in India with a public notice in newspapers and a blog. This comes after months of delays, but according to the notice, the company’s Paytm portfolio is transferred to the newly formed entity, Paytm Payments Bank Ltd (PPBL). Paytm was ready to begin operations throughout the past year Independence Day.

In 2015, the RBI has granted approval, in principle, the founder Vijay Shekhar Sharma to set up a payment bank with 10 other people. So far, apart from Paytm only Airtel got its bank payment execution.

All Paytm portfolio accounts will be automatically transferred to new bank payments. If you do not want to continue with the bank, you need to unsubscribe by sending an email to or visiting [email protected] paytm.com/care to withdraw and change your balance by transferring your bank account.
Your account will remain a PPBL account portfolio, not a bank account. Inactive accounts for six months and that have a balance of zero will be transferred to PPBL there are no options. In addition to the wallet account, you can also open a Paytm bank payment or checking account. Although both have the same connection, it is necessary to open a separate bank account.
Paytm accounts are being deployed in beta for employees and associates. Other people may also request an invitation to become account holders at the bank. These accounts have a limit of Rs. 1 lakh per customer, and they are different portfolios as they can offer debit and interest cards.
For a Paytm bank account, you must visit the Paytm Bank page and click Request an Invitation. To do this you will need to log in to your Paytm account, and once you do, you automatically register your interest in being an account holder.
If the transfer of more than Rs. 25,000 in your Paytm bank account, you will receive a refund of Rs. 250 (1%), up to four times.
There is no minimum balance in the bank account. In addition, online transactions (such as IMPS, NEFT, RTGS) will have no charge.
One big difference between a portfolio and a paying bank is that it can offer an interest. Paytm pay 4% per year. This is below the 7.5% interest payment offered by the Airtel bank, and in line with what is obtained from the Axis, ICICI and HDFC.
On the other hand, unlike the portfolios, payment banks can offer debit cards (but not credit). According to the Paytm website, physical services such as a check book, debit cards and projects will be available from Paytm bank payments at a low price. Interestingly, Airtel offers no physical debit card, virtual, but to use online.
The bank will issue a Paytm Rupay debit card, which will be free but will be charged Rs 100 + shipping costs at annual rates. A lost card replacement will also be Rs. 100 + delivery. A checkbook of 10 sheets also cost Rs. 100 + shipping costs.
Paytm does not have its own ATMs. However, the debit card can be used free of charge five times in a non-meter or three times in the meter subway stop. Then there will be an Rs. 20 Cost of withdrawing cash, while other operations, such as check balances, will cost Rs. 5.

Adani Enterprises defers investment decision on Australian coal project

Adani Enterprises defers investment decision on Australian coal project
Standard

Adani Enterprises defers investment decision on Australian coal project

Adani Indian companies Monday postponed the final investment decision on their long-running Carmichael Australia coal project while the Queensland government had not yet signed a royalty agreement for the mine.

The company plans to take a final investment decision (FID) at the proposed coal mine and lane 25 million tonnes per year by the end of May.
“Adani is informed that the Queensland Council of Ministers has not considered submission or royalties decisions by the Adani project today’s decision,” said company spokesman in Australia, Ron Watson.

“In light of this, Adani today postponed the Board’s decision on the IDF until the government makes a decision.”

The Queensland government is considering ways to extend royalty payments to promote employment and investment in a state characterized by declining output over the last five years.

However, the Labor government faces opposition within its own ranks, having vowed that no taxpayer money is used to subsidize the controversial Carmichael project in the Galilee Basin without exploding.

Queensland’s Prime Minister Anastasia Palazsczuk said on Monday the issue had not been discussed by the Cabinet but said any change in the state’s royalty regime would not only be for Adani but would be a series of new developments Miners and gas.

“I think that as a government, we can see clearly to try to open the Galilee (and other areas),” he told reporters.

“At the end of the day, it’s about work, and that’s what people want from Queensland.”

Adani fought green groups over the past six years, seeking to block what would become Australia’s largest coal mine. Opponents argued that coal exports could fuel global warming and that the project would require port expansion that could damage the Great Barrier Reef.

The expansion of the port is no longer necessary as the company reduced the first phase of the mine to 25 million tonnes from 40 million tonnes per year as it aims to improve affordability and my rail project around 4 billion Of dollars, instead of more than 10 billion.

Seven Reliable Sources to Learn About beauty services at home

Seven Reliable Sources to Learn About beauty services at home
Standard

The beauty services at the home are the best way to get the best beauty treatment for better care of your skin. It provides the best opportunity of the beauty services at home, which is the comfortable thing for you and also placed for you at your convenient place ever.

There are the seven reliable sources to learn about beauty services at home, which is the best way to get the best beauty services of glow up India.

  • The experienced person gives the best and useful tips of the beauty services at home is that they afford the best beauty services at home and it will be more beneficial for you.
  • Always experienced person gives the tips to another person, those have not the time to go to the salon and they are busy, so they must choose the beauty services at home for the betterment of them.
  • The experienced person must give the useful tips to other that they can also save the money by choosing the beauty services at home.
  • You can get the best beauty treatment at your home without going anywhere, because if you will go for salon outside, then it can also prove for you very expensive
  • You can save your valuable time by choosing the beauty services at home in Mumbai and you can get your time for your family
  • You can get the best beauty along with the great rest by choosing the beauty services at home because some housewives not getting to care of herself
  • You can better select that all cosmetics, which suits to you and perfect for you, then you can say to the beautician for change this cosmetic and they will do it for better care of your skin.