PSBs can't push people of choice on their boards

The central bank on Friday came out with new master directions on fit and proper guidelines for elected directors on the board of PSBs.

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Banking

The central bank on Friday came out with new master directions on fit and proper guidelines for elected directors on the board of PSBs.

from Banking/Finance-Industry-Economic Times https://ift.tt/2GKss55

At finance ministry briefing, reporters told to email their questions

The “new ground rules” triggered unease among reporters, who requested the officials to take questions as it was a normal news briefing.

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PNB fined for anti-money laundering rule violation

In one of the steepest ever penalties for violation of anti-money laundering rules by a bank, the Financial Intelligence Unit (FIU) has slapped a penalty of over Rs 15 crore on state-run Punjab National Bank.

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Some Siddhartha loans may not burden family

A significant part of the personal borrowings between CCD founder VG Siddhartha and private financiers are said to have been collateral-free and unsecured which is why these transactions unlikely to devolve on his family. Experts believe his family would be liable only for any debt that they have co-guaranteed. His personal loans are said to be over Rs 3,500 cr.

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Amarnath yatra curtailed: Airfares from Srinagar soar

Airfares for flying out of Srinagar have skyrocketed for this weekend after the state government asked Amarnath yatris and tourists to immediately curtail their stay in the valley and "return as soon as possible”.

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Delink business failure from entrepreneur: Nandan Nilekani

India needs a social fabric that does not equate the failure of a business with the person, which unfortunately in a market like India get clubbed together and leads to consequences, said Nandan Nilekani, current chairman of Infosys and also an investor in startups. Nilekani was speaking at a fireside session in Bengaluru along with renowned venture capital investor Vinod Khosla.

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At finance ministry briefing, reporters told to email their questions

The finance ministry sent out an invite for a briefing by senior officials of the ministry on Friday. The sudden briefing by the ministry, which has barred entry of journalists without appointment with officials after the Union Budget on July 5, triggered excitement and the small hall at the National Media Centre was full when the officials gathered to talk to the media.

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View: Enabling cities as drivers of economic growth

The view that cities are the epicentre of economic growth are supported by the fact that with only 50% of the world population, cities generate more than 80% of the global GDP.

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