The issues relating to strengthening of credit underwriting standards, monitoring of large exposures, implementation of External Benchmark Linked Rate (EBLR) Guidelines, bolstering IT security and IT governance, improving recovery from written-off accounts, and timely and accurate sharing of information with credit information companies were also discussed.
"So far as India is concerned, both regulators and regulated entities need to stay the course with an unwavering commitment to ensuring a stable financial system," RBI Governor Shaktikanta Das wrote in the semi-annual Financial Stability Report. "It has to be remembered that seeds of vulnerability often get sown during good times when risks tend to get overlooked."
Fitch Ratings said that Indian law-enforcement agencies' investigations could potentially damage a corporate's business reputation and constrict funding access, particularly when there is reduced market confidence, despite no wrongdoing being identified. This warning comes after the recent searches by the Enforcement Directorate at Manappuram Finance.
CNK submitted the draft report on October 24, and the PFS management is in the process of providing its response on the draft report immediately, in order to complete the forensic audit at the earliest.
With a huge capital at hand and rapid growth in the periphery, investing the money at hand becomes all the more important. This way, until you find the best way to spend your money like hiring top talents or developing phenomenal products, you can produce yield from the funds you have. Aiming for the best interest rates and returns will be the agenda when you dive into the investments but the catch is a risk.
The SEBI is also said to have pulled up PTC India Financial Services (PFS) for the action taken report that it had asked the lender to file in the light of the governance concerns raised by the independent directors in their resignation letters.
SEBI cannot assume the role of a post office to receive and deliver the document, writes Ex ICAI president Amarjit Chopra.
Experts say that the Covid surge has caused disruption to working practices and changed resource demand suddenly.
Lakshmi Vilas Bank was on Tuesday put under a 30-day moratorium amid financial and governance concerns. Reserve Bank appointed its own administrator to run the bank affairs, and proposed its merger with DBS Bank India. Lakshmi Vilas Bank follows the suit of Yes Bank, PMC Bank, DHFL and IL&FS, where RBI had to intervene. What does the RBI’s decision to rescue LVB imply for its shareholders? Could the regulator have stepped in earlier? Where is LVB headed in the days to come? Lastly, what are the lessons from this episode for the banking sector?
The Reserve Bank of India (RBI) has sought details on an internal investigation conducted by HDFC Bank on its vehicle finance unit and its head Ashok Khanna on the grounds of ‘improper lending practices and conflict of interests’
The committee will examine and suggest relevant recommendations to strengthen corporate governance for insurers in India across compliance, internal audit & risk management functions.
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