HDFC BankNSE 1.10 % managing director Aditya Puri said there is no need for pessimism despite the economic slump. “My view is that there are some very good things happening,” he told ET in an interview, among them the transformation that will be wrought by the digital revolution. While his bank has raised red flags […]

Few notions among those who do business in India are perhaps as pervasive and deeply held as the one about doing business with the government. It’s a bit like a visit to the dentist — best avoided, but if you must, then pain and unpleasantness can’t be escaped. Complex procurement norms, bureaucratic hurdles, nepotism and […]

MUMBAI: The government has set up a screening committee to track the status of bankruptcy cases in which promoters are suspected to have siphoned off funds as it looks to crack down on such diversions, four people aware of the matter told ET. The committee will check if there is fraud by communicating directly with […]

The cabinet approved key changes in the Insolvency and Bankruptcy Code (IBC) aimed at restricting the resolution process to 330 days, including time for litigation, and ensuring the primacy of financial creditors over operational ones in case of recoveries. This clarifies ambiguities that had arisen following a recent ruling by the National Company Law Appellate […]

NEW DELHI: YES Bank NSE -10.92 % on Wednesday said its profit plunged 91 per cent on a yearly basis to Rs 113.80 crore in the June quarter, dented by one-off impact from mark to market provisions of Rs 1,109 crore. Analysts in an ET NOW poll were projecting a profit of Rs 164 crore. […]

State-owned Punjab & Sind Bank Wednesday reported over Rs 238 crore fraud by Bhushan Power and Steel, a third such instance after similar disclosures made by PNB and Allahabad Bank recently. “On the basis of forensic audit investigation findings and CBI filing FIR, on suo moto basis, against the company and its directors, alleging diversion […]