While taking gold out of the closet to borrow money is no longer taboo in Indian households, the sharp drop in gold prices is hitting the newest loan product on the banking turf hard, explains Tamal Bandyopadhyay.
The housing finance major issued non-convertible debentures and warrants to raise another Rs 4,000.03 crore.
Though most experts remain bullish on the banking space, they suggest investors buy only those banks whose NPAs are at a manageable level of 3% to 4% and there is credit growth or earnings visibility.
The biggest private sector lender, are swarming the market with discounts and special offers
What connects P S Jayakumar of Bank of Baroda, V Vaidyanathan of Capital First Ltd and Chandra Shekhar Ghosh of Bandhan?
A lot of work is needed to be done on the part of the insurance sector behemoth, and the government, before it is ready for its market debut.
Lenders to Kingfisher Airlines have been left in the lurch, with most hoping the airline resumes operations, as this would ensure at least some revenue flow.
At 12:25 PM, the barometer index, the S&P BSE Sensex was down 358 points or 1.3% at 26,368.
Given the relevance of bank deposits for Indian savers, whether the regulator would permit linking savings interest rate to a repo-like structure needs to be seen, as a move of this nature could increase volatility in savings also.
Bankers said India's structural story from medium to long term was intact and they were optimistic about the future.
Ashok Leyland, ITD Cementation India have more than doubled.
"The central government had rescued other businesses by re-structuring debts to the tune of Rs 30,000-40,000 crore. Compared to this, the amount (debt) of Jet Airways was much smaller. Moreover there was a resolution (accepted) by the lenders to save jobs and to save the airline," Sharma said.
Going by the strict criteria set, only Maharashtra, Tamil Nadu, Gujarat, Karnataka, Uttar Pradesh, Andhra Pradesh, Madhya Pradesh, and Haryana qualify for such extra borrowing, as of now.
As part of their deal Diageo agreed to pay Mallya, $75 million for stepping down as chairman of United Spirits and for entering into a non-compete pact
The rights issue price has been set at Rs 1,257 a share, a discount of nearly 14 per cent to the last closing price of Rs 1,459. The company had set May 14 as the record date for the rights issue, which meant shareholders as on that day would be eligible to apply. Shareholders will be able to apply for one share for every 15 shares held.
BoB now has over 9,500 branches, 13,400 ATMs, 85,000 employees to serve 12 crore customers.
It is ranked 7th on the list of world's top-10 consumer finance firms
There is a dearth of talent in the Indian banking industry. A testimony to this is the two new CEOs in the private sector -- Sandeep Bakhshi in ICICI Bank Ltd and Amitabh Chaudhry in AXIS Bank Ltd -- have come from the insurance sector, says Tamal Bandyopadhyay.
UTI, HDFC, Reliance MF and SBI MF already source 17-25% of funds from small towns.
Naresh Goyal, after being ousted with his wife from the board last week, and with his shareholding halved to 25 per cent, can still make a comeback by partnering a new investor and win back majority control.
Historically, the RBI has tried to keep the crooks at bay by issuing a circular a day. What it needs is more onsite supervision. Merely checking high-frequency data with the help of technology is insufficient, notes Tamal Bandyopadhyay.
The Arun Jaitley-led finance ministry reiterated banks should act tough on wilful defaulters.
'On the evening of the 17th, the RBI said the bank was put on moratorium.' 'Within an hour, the RBI said it would be merged with DBS.' 'How did DBS come to know within an hour that LVB was in trouble?' 'It means, what happened was match-fixing.'
The entire 'teaser rate' phenomenon only ended up benefiting lenders and developers at the cost of the loan consumers.
Sectorally, metal and banking stocks rallied the most, while FMCG and realty stocks came under selling pressure.
Equity benchmark Sensex tumbled 674 points on Friday, weighed by losses in banking stocks as an unabated spike in new coronavirus cases fuelled uncertainty over the economic impact of the pandemic. After hitting a low of 27,500.79 during the day, the 30-share BSE barometer ended 674.36 points or 2.39 per cent lower at 27,590.95. The NSE Nifty shed 170 points, or 2.06 per cent, to finish at 8,083.80.
The bourse's valuations may get a boost, as it gets set for its OFS of about Rs 10,000 crore.
There would be no retrenchment of employees and that their services conditions would also not be affected post merger.
The strike call is over privatisation, mergers, and also due to write-off of corporate NPAs, criminalisation of willful default
With the management of most State-owned banks hardly having time to concentrate on big-ticket business, growing the business of loan disbursals has been pushed down the priority order.
SBI's Bhattacharya is ranked second on the list, while ICICI's Kochhar is 5th and Axis's Sharma is 19th in the Fortune list
Every bank offers a different slab of minimum balance to customers, based on which 'free services' are provided
Fund managers's compensation is largely tied to the assets they manage and scheme performance.
The central bank gave 11 entities licences to start payments banks.
The new regulations leave registration capital requirements for wholly foreign-owned banks unchanged
Shoppers Stop returns to its core business after divestments. The retailer plans growth through web and private labels.
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