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Generations of foreign royals – particularly from the Middle East – have learned to be military leaders at the UK’s Sandhurst officer training academy. But is that still a good idea, asks Matthew Teller. Since 1812, the Royal Military Academy Sandhurst, on the Surrey/Berkshire border, has been where the British Army trains its officers. It […]
IDBI Bank out of PCA framework March 10, 2021 This is following the lender’s written commitment on complying with PCA norms The Reserve Bank of India has decided to take IDBI Bank out of the Prompt Corrective Action (PCA) framework, subject to certain conditions and continuous monitoring. This development comes in the backdrop of the Budget announcement that the government is working towards strategic disinvestment of its stake in IDBI Bank in FY2022. The central bank had invoked the PCA against IDBI Bank in 2017 in view of its high non-performing assets and negative return on assets. Under...
IDBI Bank is planning to set off accumulated losses of about Rs 44,500 crore against the balance standing to the credit of the Securities Premium Account (SPA) after the declaration of its fourth quarter (Q4FY21) financial results. According to the Draft Scheme for setting off accumulated losses as on April 01, 2021 against SPA, this balance sheet neutral exercise of re-arrangement of liabilities will enable the bank to represent its true financial position. It will also help the bank to raise resources via AT (Additional Tier) 1 Bonds in the near future as it will become eligible to make cou...