11:51 PM
Blogger
For Avendus, the IL&FS default and the ensuing chaos in the country’s financial services sector came at a bad time. Having spent 17 years growing into one of India’s preferred investment bankers, it had decided to become a more broadbased financial services firm in 2017, taking $300 million from KKR, the bulgebracket US-based private equity firm.
8:17 PM
Blogger
5:24 PM
Blogger
5:12 PM
Blogger
HDFC Bank Ltd, India's largest private lender, on Saturday posted a nearly 33% jump in standalone net profit for the quarter to December helped by growth in its loans portfolio.
1:47 AM
Blogger
9:24 PM
Blogger
9:06 PM
Blogger
Mallya bought ‘Le Grand Jardin’ through his company Gizmo Invest SA in 2008 using a 27-million euro ($30 million) loan facility from Ansbacher & Co, a unit of Qatar National Bank SAQ. Gizmo has since defaulted on the loan, the bank told a London high court on Wednesday.
8:24 PM
Blogger
7:21 PM
Blogger
"Moving forward, these companies are expected to focus on optimising their asset utilisation and leveraging their existing branch infrastructure to maximize the branch-level AUM and customer outreach," KPMG India said in the report 'Return of gold financiers in India's organised lending market'.
6:54 PM
Blogger
6:54 PM
Blogger
6:54 PM
Blogger
5:21 PM
Blogger
In its report on Budget expectations, the economists said RBI should "seriously think" of providing liquidity to NBFCs against the assets held by the lenders. "Given the crisis of confidence in the financial markets, it is imperative that central banks don't forget their primary function of being the lender of the last resort," they said.
4:54 PM
Blogger
4:51 PM
Blogger
"I would like to give a word of caution here. Though your (insurance brokers) share is very high in group health insurance, the loss ratio in group health insurance is also very high. Probably, it is not very sustainable at present," he said at an event organised by Insurance Brokers Association of India.
4:47 PM
Blogger
3:47 PM
Blogger
2:54 PM
Blogger
1:21 PM
Blogger
"The resolution of Essar Steel with realisation of more than Rs 42,000 crore has significant impact on financial ecosystem. With availability of funds and committed additional infusion of Rs 8,000 crore by ArcelorMittal, Essar Steel’s under-utilised productive asset can now operate at its optimal level of production and enhance capacity utilisation," the resolution professional of Essar Steel said.
12:21 PM
Blogger
The central bank has issued detailed guidelines for reporting such exposure by UCBs to the CRILC (Central Repository on Information on Large Credits) every quarter. Banks need to submit the data on large exposures within 30 days from the end of the quarter through the XBRL reporting platform of the Reserve Bank of India (RBI).
10:44 AM
Blogger
The Central Vigilance Commission has set up an advisory board to serve as a first level of examination in cases of banking and financial frauds above Rs 50 crore in state-run banks and financial institutions. The move comes after experts and industry leaders flagged the concerns during their recent meetings with Prime Minister Narendra Modi.
10:44 AM
Blogger
The Supreme Court’s decision to dismiss review petitions of top telecom companies on its Adjusted Gross Revenues (AGR) payment order leaves the sector open to statutory and bank repayment defaults, and piles fresh pressure on Vodafone Idea and Airtel, which are already groaning under tight market conditions.
9:54 AM
Blogger
8:54 AM
Blogger
8:21 AM
Blogger
Apax Partners also approached; Hero Corp & Analjit Singh currently in exclusive discussions
8:17 AM
Blogger
8:17 AM
Blogger
9:47 PM
Blogger
9:24 PM
Blogger
9:24 PM
Blogger
2:54 PM
Blogger
2:51 PM
Blogger
One of the biggest drawbacks today is the lack of awareness. We often follow what is blindly told to us, either by our parents, friends or financial advisor....
2:24 PM
Blogger
1:21 PM
Blogger
The Supreme Court on Thursday partially stayed the Bombay High Court order allowing shifting of HDIL promoters Rakesh Wadhawan and Sarang Wadhawan, accused in the multi-crore Punjab & Maharashtra Cooperative (PMC) Bank scam case, from Mumbai's Arthur Road Jail to their residence.
1:17 PM
Blogger
1:17 PM
Blogger
12:54 PM
Blogger
12:36 PM
Blogger
he Supreme Court on Thursday stayed the Bombay high court order directing shifting of HDIL promoters Rakesh Wadhawan and Sarang Wadhawan, arrested for their alleged involvement in the PMC Bank scam, from Mumbai's Arthur Road Jail to their residence.
12:24 PM
Blogger
11:51 AM
Blogger
Unsecured loans are growing even as secured retail advances such as auto loans, loans against property (LAP) and home loans saw moderate rates of balance growth at 10.3%, 11.6% and 10.0%, respectively, according to TransUnion CIBIL’s Q2FY20 Industry Insights Report.
11:17 AM
Blogger
11:17 AM
Blogger
11:17 AM
Blogger
11:17 AM
Blogger
8:21 AM
Blogger
At least four central agencies — the Ministry of Corporate Affairs and CBI, besides the ED and tax department — are probing the Kochhars and Videocon chairman Venugopal Dhoot, over alleged irregularities in certain loan deals between ICICI Bank and the industrial group when Chanda Kochhar was at the helm of the lender.
8:21 AM
Blogger
RBI data on financial inclusion suggests that including regional banks’ outlets in rural locations reached over 52,000 at the end of March 2019, a growth of mere 3% over 2018. For banks, a branch in a metro city becomes profitable in two years, while a rural branch breaks even in four years.
7:17 AM
Blogger
7:17 AM
Blogger
6:47 AM
Blogger
6:47 AM
Blogger
7:11 PM
Blogger
6:20 PM
Blogger
6:20 PM
Blogger
6:20 PM
Blogger
6:20 PM
Blogger
6:11 PM
Blogger
5:38 PM
Blogger
Bank unions on Wednesday called for a two-day nationwide strike on January 31 and February 1 after talks over wage revision failed to make headway with the Indian Banks' Association (IBA). The United Forum of Bank Unions (UFBU), which represents nine trade unions, said they will also hold a three-day strike from March 11-13.
5:28 PM
Blogger
Bank unions on Wednesday called for a two-day nationwide strike on January 31 and February 1 after talks over wage revision failed to make headway with the Indian Banks' Association (IBA).
5:11 PM
Blogger
5:11 PM
Blogger
4:38 PM
Blogger
"All efforts are being made to financially strengthen the bank even further. Kindly, therefore, pay no heed to these unfounded reports," Yes Bank said. Last week, Uttam Prakash Agarwal, an independent director of Yes Bank resigned from the board and stepped down as head of its audit committee citing major corporate governance concerns.
4:38 PM
Blogger
The company said he will be responsible for overall operations across merchant acquisitions, servicing, payments, lending and commerce. Bahl has previously worked at Fortis, Bain & Company, PayTM and Airtel Payments Bank and Roadzen. The company, which was launched in 2018, raised a total of $65.5 mn in two rounds of funding last year.
2:41 PM
Blogger
2:38 PM
Blogger
The case pertains to the accused fraudulently availing loans, in connivance with others, from a consortium of banks and subsequent default of loans to the tune of Rs 1,768 crore, ED said in a statement said. "Investigation so far has unearthed 33 shell companies and more than forty contractors in this case," the ED said.
2:08 PM
Blogger
Suresh Kishinchand Khatanhar has exposure in retail banking business, priority sector lending, corporate banking (mid corporate and large corporate), service oriented functions such as trade finance and cross selling of various treasury products.
1:41 PM
Blogger
1:08 PM
Blogger
Piramal Capital & Housing Finance has raised Rs 900 crore from two public sector banks — Union Bank of India and Bank of India — at 8.9% for five years and Rs 500 crore from IndusInd Bank for one year at 9% to meet the obligations.
12:38 PM
Blogger
Depositors have been flocking to the bank's branches after the Reserve Bank of India (RBI) imposed restrictions on the bank’s management disallowing it from collecting deposits, lending fresh loans or making investments without the regulator’s approval.
11:58 AM
Blogger
The Reserve Bank of India’s (RBI’s) monetary policy committee (MPC) is likely to hold a consultation before its next bimonthly meet in February, given the surge in inflation beyond the panel’s tolerance level of 6%.
10:50 AM
Blogger
10:50 AM
Blogger
10:28 AM
Blogger
The government has appointed Michael Debabrata Patra as deputy governor of the Reserve Bank of India in charge of monetary policy in place of Viral Acharya who stepped down in July last year. This is the first time since S S Tarapore, deputy governor between 1992-96, that an RBI official has been appointed to a position that has been traditionally filled by an external economist.
8:38 AM
Blogger
This is the second time the parent is infusing ‘confidence’ capital after putting in $100 million in 2009, when the PE group launched its credit business in India in what was then hailed as a pioneering strategy. Till date its other investors Abu Dhabi Investment Authority (ADIA) and Texas Teacher Retirement System have each infused $100 million.
9:58 PM
Blogger
The country's largest lender State Bank of India (SBI) has reduced interest rates on retail term deposits by 15 basis points (bps) on certain tenures, effective January 10. The reduction in interest rates are for long-term fixed deposits below Rs 2 crore.
9:41 PM
Blogger
8:58 PM
Blogger
Panic stricken depositors milled around the Sri Guru Raghavendra Cooperative Bank here on Tuesday to withdraw their money, days after the Reserve Bank of India (RBI) capped the withdrawal limit to Rs 35,000.
8:41 PM
Blogger
7:11 PM
Blogger
7:08 PM
Blogger
Michael Patra will take over as the fourth deputy governor at the RBI and will handle the monetary policy portfolio.
5:11 PM
Blogger
4:11 PM
Blogger
3:50 PM
Blogger
2:08 PM
Blogger
The organisation has started hiring engineers, systems architects and data analysts to work on projects and initiatives including product design, development and support for core functional areas of SVB’s business.
1:41 PM
Blogger
12:41 PM
Blogger
12:38 PM
Blogger
The development follows the statement by the company's Chairman Rashesh Shah stating the firm has no relationship with Capstone Forex, which is being investigated by the ED for foreign exchange rules violation. The ED had recently summoned Shah in connection with the company's dealings with Capstone Forex Pvt Ltd.
12:38 PM
Blogger
Patra was appointed as RBI's deputy governor, replacing Viral Acharya, who left office on July 23.
12:11 PM
Blogger
11:58 AM
Blogger
The government on Tuesday approved appointment of Michael Debabrata Patra as the new deputy governor of the Reserve Bank of India for a period of three years. Patra will replace Viral Acharya who left office on July 23 last year six months before his term was scheduled to end. Patra was earlier an executive director of the Reserve Bank.
10:28 AM
Blogger
The economic slowdown may take a toll on job creation, with around 74 lakh new additions to the payroll during the current financial year, compared to nearly 90 lakh in 2018-19, an analysis by State Bank of India showed. The estimated 17.6% decline in fresh jobs is based on an analysis of data from the Employees’ Provident Fund Organisation.
9:38 AM
Blogger
The ICICI Bank has filed a civil recovery suit against its former chief executive Chanda Kochhar for the recovery of around Rs 12 crore, that she received as part of bonus and other benefits before she was terminated from the bank.
8:38 AM
Blogger
Deutsche Bank has provided $200 million (Rs 1,400 crore) as bridge financing, they said. The funds were given to Sterling Investments and Cyrus Investments, which belong to the Mistry family, against the ownership of Tata Sons shares, they said.
8:38 AM
Blogger
Super-Max on February 8, 2018 moved a requisition to convene an extraordinary general meeting to ratify appointment of the four new directors. It had also sought to appoint an executive chairman for TMPL and amend its articles of association.
8:38 AM
Blogger
An alternative investment firm owned by Kotak Mahindra Bank is seeking the court’s intervention to have overturned the National Company Law Tribunal’s (NCLT) order, arguing that the resolution process was flawed.
5:50 AM
Blogger
5:50 AM
Blogger
8:50 PM
Blogger
8:11 PM
Blogger
7:50 PM
Blogger
7:41 PM
Blogger
7:41 PM
Blogger
7:38 PM
Blogger
In a monetary suit filed on 10 January, the bank sought dismissal of Kochhar's petition and stated that the issue can be decided in a commercial suit.
6:58 PM
Blogger
The ICICI bank has approached the Bombay high court seeking effect to "termination of appointment" of Chanda Kochhar as its managing director and CEO, and also sought recovery of various amounts from her.
6:20 PM
Blogger
5:20 PM
Blogger
3:41 PM
Blogger
3:20 PM
Blogger
2:41 PM
Blogger
1:41 PM
Blogger
1:11 PM
Blogger
1:08 PM
Blogger
Samrat Khosla, who will relocate to India, brings to the role a wide experience gained over his career in distribution, products and wealth management. He joined the Bank in 2003 and worked in various roles across Retail Banking and WM before relocating to Singapore to join the Bank’s Group WM team in 2010.
12:41 PM
Blogger
11:58 AM
Blogger
Nearly a fourth of borrowers who defaulted to banks carried an investment grade credit rating up to a quarter before they defaulted, according to a report published in the Reserve Bank of India’s (RBI’s) latest bulletin.
11:38 AM
Blogger
The new management keeps dangling improbable funding options — ranging from an unnamed global technology firm to a Canadian businessman living in a motel — only to strike them off the list of white knights.
10:41 AM
Blogger
8:38 AM
Blogger
The forensic auditor found “anomalies” in the credit appraisal process of the home financier and noted that more than 80% of disbursals comprised corporate loans to a group of 47 borrowers that shared these common characteristics, according to these people. This included similar registered addresses, common directors and key management personnel.
8:38 AM
Blogger
The prebudget meeting on Friday was necessitated after the government waived off MDR for merchants on digital payments made through RuPay debit cards and Unified Payments Interface (UPI) devices from January 2020.
8:38 AM
Blogger
Centrum Housing Finance, which started operations in 2016, is a stepdown subsidiary of Centrum Capital, the listed group entity of Centrum. The firm reported revenue of Rs 37.64 crore in financial year 2019 compared to Rs 10.4 crore in the previous year. Its profit after tax stood at Rs 1.4 crore during the period compared with Rs 18.9 lakh in FY18, its annual report showed.
7:08 AM
Blogger
Life insurers such as ICICI Prudential, HDFC Life and SBI Life are set for a quarter of strong new business growth driven by increasing margin gains in protection business, expanding distribution network and robust premium even as some insurers may see increased stress in certain portfolios due to a slowing economy.
9:28 PM
Blogger
8:58 PM
Blogger
8:39 PM
Blogger
As part of the debt resolution process, lenders of the company, which had defaulted on some repayment obligation following the shadow banking crisis, appointed Grant Thornton in August 2019 for forensic audit, as required under the RBI guidelines on Prudential Framework for Resolution of Stressed Assets under change of control and management.
RSS Feed
Twitter
