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View: How the government can truly make India’s state-run banks efficient just like their private sector peers

View: How the government can truly make India’s state-run banks efficient just like their private sector peers

Finance
Budget 2021 has finally made long-awaited policy pronouncements of a reformist nature in the banking and financial sector. Governments are prone to make announcements that catch headlines, but soon fade away with only half-hearted implementation. One says this with the hindsight of the declaration of divestment of the Industrial Development Bank of India (IDBI) in 2015 and later of Air India. But genuine enthusiasm arises from the fact that after declaring that GoI would privatise public sector banks (PSBs), set up an asset reconstruction company (ARC) and establish a development finance institution (DFI) among others, the administration has started to take steps to implement these. It is encouraging that the finance ministry has already sought timelines from ministries on getting the deci...

Op-ed: You’ve been asked to invest in a private venture. Here’s when to say ‘yes’ and when to walk away

Finance
Tetra Images | Tetra images | Getty ImagesA few years ago, I had a client tell me he invested in a fancy bowling alley — the new party hot spot in town. It's since shut down. Another client shared that he joined the board of a start-up and they're looking to raise capital. He wants to figure out the right dollar amount to invest.High-net-worth investors are approached often to put their money into a private company looking to grow. The offers come in all shapes and sizes: Small companies need capital to expand, start-ups often need several rounds of financing, and friends or family members with a "Shark Tank" type idea want to make a run at creating their dream.These investment ideas often sound exciting and exclusive and seem to hold the potential for much higher returns than a traditiona...
Gaurav Trehan to head KKR India’s private equity business

Gaurav Trehan to head KKR India’s private equity business

Finance
Mumbai: Global buyout major KKR on Monday said Gaurav Trehan, a recent hire from rival TPG, is taking over as the head of its private equity business in India. KKR India chief executive Sanjay Nayar, who has been with the private equity fund since 2009, will transition to a new role as the chairman, an official statement said. Trehan joined KKR earlier this year from TPG Capital Asia, where he was a partner in the India office. He will head KKR's private equity business in India. "We are grateful to Sanjay for his role in establishing our business in India, partnering with and empowering local entrepreneurs to build their businesses into local and global champions, making KKR a leading investor in India, and helping to grow our Asia Pacific business," Joseph Bae, KKR's co-president and ...
Monetary policy transmission of PSU banks stronger than private lenders: RBI paper

Monetary policy transmission of PSU banks stronger than private lenders: RBI paper

Finance
Mumbai: The monetary policy transmission of state-owned banks in the short-run is stronger than their counterparts in the private sector, and can be improved further with capital infusion, said a RBI working paper. The credit channel of monetary policy transmission is robust in India and its efficacy can be reinforced by better capital position of banks, said the working paper on 'Asset Quality and Credit Channel of Monetary Policy Transmission in India: Some Evidence from Bank-level Data'. "Controlling for asset quality, in the short-run, the credit channel of monetary transmission of public sector banks is stronger relative to that of private sector banks," it said. The Reserve Bank of India said the views expressed in the paper are those of the authors and not of the central bank. Ac...
Watch: USS Delbert Black commissioned at private ceremony

Watch: USS Delbert Black commissioned at private ceremony

Business
Sept. 26 (UPI) -- The USS Delbert Black was commissioned at Port Canaveral in Florida on Saturday. The ceremony was private, with a small number of in-person guests and speakers, due to COVID-19. But it was livestreamed, with some Navy and political leaders delivering remarks remotely. Advertisement Those attending in person included Ima Black, widow of Delbert Black, the Navy's first Master Chief Petty Officer and the ship's namesake, and James Geurts, the Navy's assistant secretary of research, development and acquisition. Speakers praised the ship's namesake, who oversaw the creation of the Master Chief Petty Officer of the Navy during the Vietnam War and guided the branch through that era. Russel L. Smith, the Navy's current MCPON, was the principal speaker, and several of Black's su...