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Edelweiss Group chairman Rashesh Shah and his wife Vidya Shah share views on a range of subjects, including business, credit crisis, corporate governance.
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It said that over the last one week there has been a lot of unwarranted speculations in the market about continuous weakening of DHFL's credit profile.
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The crisis-ridden infrastructure conglomerate, once a pioneer of public-private partnership, came under the scanner of multiple regulators besides SEBI post defaults in debt obligations.
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The State Bank of India has sold electoral bonds worth over Rs 3,622 crore in March and April this year, an RTI response has said. SBI said electoral bonds of Rs 1,365.69 crore were sold in March, which shot up by 65.21 per cent in April to Rs 2,256.37 crore.
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The country's largest lender State Bank of India (SBI) has reduced its marginal cost-based lending rate (MCLR) by five basis points (bps) with effect from May 10, the bank said in a statement. This is the second rate cut in this financial year. SBI had announced a 5 bps cut in MCLR across all tenors on April 10 in response to RBI's 25 bps repo rate cut.
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State Bank of India (SBI) reported a profit for the fourth quarter, compared with a record loss a year ago, as the country's largest lender benefited from better asset quality and higher income from its retail banking business.
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State Bank of India (SBI) reported a profit for the fourth quarter, compared with a record loss a year ago, as the country's largest lender benefited from better asset quality and higher income from its retail banking business.
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Speaking to TOI, SWIFT’s head of Asia-Pacific and Europe, Middle East & Africa, Alain Raes, said that the business model for remittance companies got created because of inefficiencies.
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Already immediate account-to-account transfers are possible in several jurisdictions like China and Australia.
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The bank is using its network to sell insurance policies and in turn planning to offer home loans to LIC’s customers.
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A consumer paying through Google Pay currently has to use UPI, which is connected to a specific bank account.
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The agency is seeking information about the funding of ITNL by IFIN since LIC was one of the lenders to IL&FS.
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The new management at IL&FS wants the court to vacate its order.
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Pai will be in charge of credit marketing, credit sanctions, branch banking & digital channels and transformation cell.
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In the year-ago fortnight, credit stood at Rs 85.17 lakh crore while deposits stood at Rs 113.81 lakh crore.
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RIL and TCS have in the past also competed with each other for the number one position in terms of market capitalisation. TCS is the country's most valued firm followed by RIL, HDFC Bank (Rs 6,24,362.11 crore), Hindustan Unilever (Rs 3,67,880.69 crore) and ITC (Rs 3,67,513.78 crore).
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RCom, which owes over Rs 50,000 crore to banks, has become the first Anil Ambani group company to be officially declared bankrupt after the NCLT on Thursday superseded its board and appointed a new resolution professional to run it and also allow the SBI-led consortium of 31 banks to form a committee of creditors.
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The bank opened 50 new branches 250 new DSCs (doorstep service centre) in the last fiscal.
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In terms of value, credit cards were ahead at more than $10 billion compared with slightly less than $8 billion for debit cards.
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State Bank of India, Axis Bank, IDBI and Punjab National Bank had complained that the ED had attached properties over which the banks had liens.
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IL&FS Group companies, with a collective debt of over Rs 90,000 crore, are going through resolution process.
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The Religare group company has been going through difficult times in the recent past on account of mismanagement and misappropriation of funds, RFL said in a release.
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As part of the resolution efforts, the group companies have been classified into three categories, mainly based on their financial positions -- green, amber and red.
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Describing Jet Airways’ 26th anniversary on this May 5 as “saddest of all days with no flights”, founder Naresh Goyal says he made Rs 250 crore available to banks from a group company. The airline’s taking to the skies again is now considered very difficult given its huge debt-cum-liabilities like payables to the tune of over Rs 25,000 crore.
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In theory, the central bank was doing what was needed to extend organised banking services to those left unbanked by traditional lenders.
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As of now, the expense caps are described according to product categories and the number of years a company has been in operations.
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The bank is using its network to sell insurance policies and in turn planning to offer home loans to LIC’s customers.
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Personal vehicle loan portfolio, comprising cars and two-wheeler loans, nearly halved in the last fiscal
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Describing Jet Airways’ 26th anniversary on this May 5 as “saddest of all days with no flights”, founder Naresh Goyal says he made Rs 250 crore available to banks from a group company. The airline’s taking to the skies again is now considered very difficult given its huge debt-cum-liabilities like payables to the tune of over Rs 25,000 crore.
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Presently, one share of HDFC Bank has a face value of Rs 2. Its shares closed at Rs 2,328 apiece on the Bombay Stock Exchange, down 1.7%. At present, the bank has issued about 272 crore shares of face value of Rs 2.
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The company has already invested USD 1 billion in the Indian market in the last five years.
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The crisis in the NBFC sector started with a series of defaults by IL&FS, which owes over Rs 99,350 crore to banks, from last September.
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Net profit dropped to Rs 969 crore ($139.71 million) in the three months ended March 31, from Rs 1,020 crore a year earlier when stricter central bank (RBI) rules had forced the country's third-biggest lender by assets to account for more bad loans.
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Major laggards on the 30-share BSE platform include Yes Bank, Tata Motors, Tata Steel, Bajaj Finance, HDFC twins (HDFC and HDFC Bank), IndusInd Bank and Reliance Industries with their shares sliding as much as 4.78 per cent. 24 out of 30 stocks on the BSE index closed in red. On NSE, except for Nifty IT, all other sub-indices ended in red with Nifty Media and Metal falling the most, down as much as 2.18 per cent.
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Bank loan growth to large corporates touched a five-year high in FY19 clocking 8.2% to Rs 24 lakh crore compared to growth of less than 1% a year ago.
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On the 30-share BSE index, major laggards include Tata Motors, Yes Bank, Tata Steel, Vedanta, HDFC and IndusInd Bank with their shares diving as much as 4 per cent. On NSE, all sub-indices started on a negative tone with Nifty Metal sliding the most, down 2.42 per cent.
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RBI may assign a ‘lower risk weight’ on loans to cos against which bankruptcy has been initiated.
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Crisis-hit IL&FS group's debt burden is estimated to be more than Rs 94,000 crore and various entities
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DIPAM officials said that next round for sale of majority government holding in companies will be offered to willing CPSEs proposing to give a good valuation for Centre's stake.
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