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Monday, October 7, 2019

Banks will have to reclassify loans given to HDIL as fraud

Real estate developer HDIL is currently in default to various banks and has been admitted for proceedings under the Insolvency and Bankruptcy Code. The company has been trying to come out of the process and had paid Rs 98 crore to Bank of India, which was incidentally raised from the Punjab and Maharashtra Cooperative (PMC) Bank.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Vip5IV
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Sensex opens on a volatile note; Yes Bank rallies 4%

After opening in the positive terrain, the 30-share index swung over 300 points in early trade. The index was trading 72.68 points, or 0.19 per cent, lower at 37,600.63 at 0930 hours. Similarly, the broader NSE Nifty slipped 32.80 points, or 0.29 per cent, to 11,141.95.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2LTpRZE
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NPA issue has bottomed out: SS Mallikarjuna Rao, PNB Head

Banks have started receiving shocks from unexpected quarters, he said, mentioning IL&FS, DHFL and more recently HDIL and Altico cases.

from Banking/Finance-Industry-Economic Times https://ift.tt/35cxPoe
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Deutsche Bank reshuffles its India top deck

The bank needed to recast roles for top executives after Kaushik Shaparia’s took over as CEO in May this year.

from Banking/Finance-Industry-Economic Times https://ift.tt/2pMnIX2
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PMC suspended chief in police custody till 9th

ED which has registered a money laundering case in this matter and will soon write to the Maldives to attach a yacht owned by the promotors of HDIL group.

from Banking/Finance-Industry-Economic Times https://ift.tt/2IpQ0x2
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