5:10 PM
Blogger
A special court in Mumbai on Saturday remanded former ICICI Bank CEO-MD Chanda Kochhar and husband Deepak to the custody of Central Bureau of Investigation (CBI) for three days in Videocon loan fraud case.
5:02 PM
Blogger
Chanda Kochhar, who was arrested for a cash-for-loan scam on Friday, was once a powerful banker and instrumental in making ICICI Bank the country's biggest private sector lender.
9:02 AM
Blogger
The winning bidder, Swan Energy - Hazel Mercantile team, offered a staggered payment of ₹2,040 crore, while on the net present value (NPV) basis it was ₹1,218 crore. Of the ₹2,040 crore offered by the duo, a sum of ₹1,640 crore will be paid over the next five years, and the remaining payment will be made from the recovery of certain pending dues. Naveen Jindal owned Jindal Steel and Power was also in the fray to acquire RNEL.
8:02 AM
Blogger
Large PSU banks like State Bank of India, Bank of Baroda, Canara Bank are already trading at close to 1 price to book value. Peak valuations for these banks had hit a high of around 1.5 times book around fiscal year 2012 and 2014. Mid-sized and small banks are currently trading at 0.5-0.7 time price to book and had touched a high of 1 times book around 2014. Bank Nifty has gained around 28% whereas PSU banks were up 74% in the last six months (as of December 21, 2022), ICICI Securities said in a report.
2:02 AM
Blogger
Additionally, the lending framework will set rigorous standards for green buildings, allowing HDFC to boost a quality green housing pipeline while channelling funds to this segment. IFC's financing package is also aimed at enabling HDFC to on-lend to people ensuring they can afford such housing.
12:11 AM
Blogger
The Central Bureau of Investigation (CBI) on Friday arrested former CEO and managing director of ICICI Bank Chanda Kochhar and her husband Deepak Kochhar in connection with Videocon loan case.
12:02 AM
Blogger
Mail sent to Hinduja Group did not elicit response till filing of the story. Earlier this week, the Ahmedabad-based Torrent group emerged the highest bidder by putting a bid of Rs 8,640 crore to acquire Anil Ambani group's NBFC entity.
3:09 PM
Blogger
1:10 PM
Blogger
11:10 AM
Blogger
Corporate bond sales also got a boost this month from record issuance of riskier debt by banks to buffer their capital and allow more lending.
11:10 AM
Blogger
10:10 AM
Blogger
Those worries were increased by the Bank of Japan's shock decision this week to move away from its ultra-loose monetary policy, increasing bets on an even more restrictive investment environment in 2023.
2:02 AM
Blogger
Banks have approached the government, saying that since accounts are seeded with Aadhaar, there is no need for PAN as well. "We have received representations in this regard, and they are being examined," said an official aware of the matter.
3:09 PM
Blogger
3:02 AM
Blogger
Hinduja Group made the second-highest offer, of Rs 8,110 crore, for the core investment company that houses 20 financial services entities, ranging from insurance to broking, the people said.
2:02 AM
Blogger
"Banks had taken board approvals to raise capital this fiscal and they are now tanking up as the busy season approaches. This is probably the last tranche of Tier 1 issues by public sector banks for this fiscal and this keeps them ready for the likely increase in loan demand in the fourth quarter," said a banker aware of the transactions.
1:19 AM
Blogger
Foreign portfolio investors bought Indian shares worth Rs 9,017 crore ($1.09 billion) in the first half of December, despite the country's benchmark indexes coming off record high levels on hawkish commentary from global central banks, data showed.
12:14 AM
Blogger
Reliance Capital is the third large NBFC against which RBI has initiated bankruptcy proceedings under the Insolvency and Bankruptcy Code (IBC). The other two were Srei Group NBFC and Dewan Housing Finance Corporation (DHFL).
6:08 PM
Blogger
Neobank partnerships driving hyper-personalised financial products, AI-driven efficiency in digital lending services and wealth tech for everyone. These three trends will enable fintech innovation in India and retain its position as the global fintech leader in 2023.
3:11 PM
Blogger
2:06 AM
Blogger
The bank had moved the dedicated bankruptcy court against the company's insolvency resolution professional's decision to reject the claim and not include the bank in the committee of creditors (CoC). Yes Bank, in its December 2021 response to a query from the resolution professional, had stated that the developer had not defaulted in repayment of its loan and the bank had not invoked the corporate guarantee provided by the corporate guarantor
1:03 AM
Blogger
The planned e-auction for RCL, as approved by the committee of creditors (CoC), is scheduled to be held on December 21, and the exit of the highest bidder on the eve of the auction has come as a big jolt to the lenders.
6:08 PM
Blogger
To transmit assets to the legal heir, Nomination is the simplest and most effective way. Read to know more
5:02 PM
Blogger
"As per RBI data, public sector banks (PSBs) and scheduled commercial banks (SCBs) wrote off an aggregate amount of Rs 8,16,421 crore and Rs 11,17,883 crore respectively during the last six financial years," Minister of State for Finance Bhagwat Karad said. With regard to the list, including names of write-offs/defaulters who have defaulted more than Rs 1 crore to the public sector banks, RBI has informed that borrower-wise information on written off loan accounts is not maintained by it, he said.
3:12 PM
Blogger
The dollar index inched 0.3% lower as the yen surged after the Bank of Japan (BOJ) said it would review its yield curve control policy. A weaker dollar makes gold more attractive to overseas buyers.
2:12 PM
Blogger
1:07 AM
Blogger
Earlier this month NARCL had matched Gujarat-based NBFC Raj Radhe Finance's ₹130 crore challenge to its ₹100 crore offer to take over the ₹2,623 crore outstanding dues of the company, ET reported in its December 5 edition. It is now learnt that the offer is on a full cash basis.
6:09 PM
Blogger
6:03 PM
Blogger
The bank wants to double the current pace of half a million new credit card issuances every month, according to Parag Rao, country head for payments business, consumer finance, digital banking and marketing. The firm will announce partnerships across a range of industries from online retail to food delivery in the coming weeks to increase spending on cards, Rao said.
5:11 PM
Blogger
The government on Monday said it will take a view on privatisation of public sector banks (PSBs) after consultation with the concerned department and regulator.
4:04 PM
Blogger
Incremental credit growth in FY2023 is expected to remain at an all-time high of Rs.18-19 lakh crore in FY2023, which will be significantly higher than the previous high of Rs. 11.4 lakh crore in FY2019. Incremental credit growth expected to remain buoyant at Rs.15.0-16.0 lakh crore in FY2024, ICRA said.
3:02 PM
Blogger
According to Reserve Bank of India (RBI) data, public sector banks have recovered Rs 4,80,111 crore, including Rs 1,03,045 crore from written-off loans, during the last five financial years, she said. As per inputs received from the RBI, scheduled commercial banks have written off an amount of Rs 10,09,511 crore during the last five financial years, Nirmala Sitharaman said during Question Hour.
12:12 PM
Blogger
SGBs are government securities denominated in grams of gold. They are substitutes for holding physical gold. Investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity. The Bond is issued by Reserve Bank on behalf of Government of India.
11:18 AM
Blogger
India’s largest private bank HDFC Bank Ltd. is seeking to issue a million credit cards a month, a remarkable bounce-back for the lender after the country’s regulator banned it from taking on new card clients two years ago.
5:10 AM
Blogger
5:07 PM
Blogger
India imported goods worth USD 3,520.83 million from Egypt, of USD 1,004.24 million from Algeria and USD 2,725.08 million from Angola in the last financial year. As far as Bangladesh is concerned, the import in the last year from the neighbouring country stood at USD 1,977.93 million, according to the data provided by the commerce ministry.
3:02 PM
Blogger
According to the MFIN Micrometer Q2 FY2022-23 report, the country's microfinance loan portfolio stood at over Rs 3 lakh crore at end-September 2022, serving 6.2 crore unique borrowers with 12 crore loan accounts.
10:11 AM
Blogger
RSS Feed
Twitter
