Mergers and acquisitions (M&As) in India have moved into the slow lane, dropping 43 per cent in terms of deal value to touch $13.37 billion since January this year to date, compared to the same period in the last year. According to data sourced from Bloomberg, Indian companies reported deal value worth $23.5 billion between January and March 22, 2023. Data Infrastructure Trust's acquisition of American Tower Corporation's India telecom towers business for $2.5 billion was the top deal for the ongoing quarter so far, followed by the Highway Infrastructure Trust's acquisition of PNC Infratech's road projects for $1.08 billion.
CEOs of leading banks say third straight rate hike by RBI inevitable, though not desirable.
This sweet is vegan, gluten-free and not very sugary.
The IPO filing-to-approval lapsing ratio this year is the best in three years, underscoring the improvement in the IPO market's buoyancy.
Investment bankers have dismissed the capital market regulator Sebi's concerns over near-zero fee for managing public sector issues.
South Haryana hasn't delivered a chief minister since 1967, when his father Rao Birender Singh was ousted from power. It's a legacy Rao Inderjit Singh is determined to reclaim.
The revival in Mumbai's property market could help the group.
A cut in the CRR will help banks release their funds stuck with the RBI on which they do not get any interest from the regulator.
'Sell in May, go away' is a popular market adage. But 'Don't sell any new shares in May' is the best kept secret of Dalal Street that's set to break. Sample this: the last four General Election election cycles starting 2004 have not seen a single initial public offering (IPO) launch during the month of May.
Finance Minister P Chidambaram is slated to meet bankers on November 18, to review performance of PSU banks and discuss ways of augmenting their capital by Rs 60,000 crore (Rs 600 billion) in the next 5-6 years.
Bharatiya Janata Party leader Shaurya Doval has said he has never expressed desire to contest elections but is open to the idea if the party decides to field him.
Stock exchanges have intensified vigil on Small and Medium Enterprise (SME) listings by mandating more comprehensive financial disclosures and enhanced monitoring of utilisation of issue proceeds from investment bankers, amid rising instances of dubious practices. Bourses - responsible for vetting initial public offering (IPO) documents and granting approvals to SMEs - have tightened norms in recent weeks with further measures planned for new filings to safeguard investor interests, sources said.
'Lending to Mr Mallya was the bankers' season ticket to corridors of power and glamour. Borrowing from them was like a favour Mallya did to them,' says Shekhar Gupta.
Relaxation in KYC guidelines has helped meet the target but this could lead to money laundering and financial malfeasance, it is feared.
They say liquidity remains a major cause of concern, and the coming quarters could witness a significant rise in non-performing assets. According to them, a robust risk management system, adequate capital infusion and regulatory reforms is crucial if India's economic growth is to remain intact in the medium and long term. Banks are facing immense liquidity pressure, as resources gradually disappear from the system. Banks have also been unwilling to lend each other.
With Rs 17,087 crore raised so far this calendar year, the total is already 2.4 times that of the full year of 2023, which stood at Rs 7,266 crore.
In view of the rising number of mobile and internet banking users, the Reserve Bank of India (RBI) has proposed to tighten norms related to the liquidity coverage ratio (LCR) by increasing the run-off factor for retail deposits. "Banking has undergone rapid transformation in recent years. "While increased usage of technology has facilitated the ability to make instantaneous bank transfers and withdrawals, it has also led to a concomitant increase in risks, requiring proactive management," the RBI said in the draft guidelines released on Thursday.
The meeting was also attended by State Bank of India Chairman O P Bhatt and Indian Banks Association and Bank of India Chairman T S Narayanaswami.
Soorma, a dashing six-footer, expressed gratitude towards his family for supporting his and wants to give them back by winning a medal at the Paris Paralympics.
The Securities and Exchange Board of India (Sebi) has proposed sweeping changes to the rights issue framework to enhance its attractiveness, aiming to make it the preferred route for additional fundraising by listed companies. Among the changes proposed by the market regulator are reducing the timeline to first 20 days and then to just three days, allowing shareholders to renounce their rights entitlement to investors of their choice, and eliminating the requirement to appoint an investment banker or file a draft letter of offer.
The bank was worth over Rs 80,000 crore as recently as September 2017. The lender had grown at breakneck speed, helped perhaps by Rana Kapoor's reputation as a banker, willing to aggressively write checks.
'We are going to need more technical people in government.' 'You can't expect a generalist to understand the complicated world of financial engineering.' 'I regret to say that most of our politicians have no competence to deal with these things. Nor is there a willingness to learn.'
The Adani group is in advanced talks with top sovereign funds based in West Asia to raise up to $2.6 billion for its airport expansion and green hydrogen projects. The group, which expects to close the ongoing financial year ending March with Rs 80,000 crore of Ebitda (earnings before interest, tax, depreciation, and amortisation), has held a series of road shows in London, Dubai, and Singapore with potential investors, briefing them about their future growth plans. The group's flagship, Adani Enterprises, may dilute part of its stake in the airport-holding firm and/or the green hydrogen business to these funds, which are keen to invest in the Indian infrastructure sector, said a source close to the development.
The government plans to sell 5 per cent of its stake in Oil and Natural Gas Corporation through the further or follow-on public offering which at current prices can fetch up to Rs 13,500 crore (Rs 135 billion).
Bankers are expecting a further fall in interest rates, due to ample liquidity in the banking system.
The Pakistan government on Tuesday did not retain Ijaz Butt as chairman of the Pakistan Cricket Board, and appointed Zaka Ashraf.
Other bankers who attended the meeting at Mint Street included SBI chairman-cum-managing director O P Bhatt, ICICI chief executive and MD Chanda Kochhar, Standard Chartered's India head Neeraj Swaroop and HDFC Bank MD Aditya Puri, among others.
Jaitley also asked banks to take steps to ensure smooth credit flow to projects.
The plan of action ranges from drawdown of loans to seeking additional guarantees, to even recalling some of the loans, if the situation so warrants.
Sekhar, a managing partner at venture capital and private equity firm FA Technology Ventures, was arrested in December 2009.
Select bankers will meet RBI Deputy Governor Subir Gokarn, who is in-charge of the monetary policy department, and other central bank officials on July 12.
A consortium of bankers that will fund the Ruias' bid for Hutchison's 67 per cent equity stake in Hutchison Essar Ltd will begin "due diligence" on the company in the next few days
The 28-year-old executive manager of individual sales at Dubai Commercial Bank, identified only as RA, is also charged with forging official electronic documents to cover his trail, local media reports in Dubai said.
Expect rate rise pause, amid market expectations to the contrary.
In a meeting with Reserve Bank of India Deputy Governor Rakesh Mohan on Monday, bankers expressed concerns that interest rates had not shown signs of softening despite ample liquidity and overnight rates being at close to 1 per cent levels.
The financial district of Wall Street is slowly turning 'green'.
The biggest challenge was the large government borrowings that are likely next year to finance the government's fiscal deficit, bankers said at the Business Standard Banking Round Table in Mumbai on Tuesday. According to initial estimates put out by the government, the fiscal deficit will be 5.5 per cent of gross domestic product.
