Most of the NBFCs do not take public deposits but that does not mean they cannot create systemic risks. The banking system has at least Rs 57,000 crore exposure to IL&FS. Haven't the banks invested public money in IL&FS papers, asks Tamal Bandyopadhyay.
Riding on the back of fresh inflows into various schemes, the MF industry's AUM totalled Rs 7.20 lakh crore (Rs 7.2 trillion) -- a 24 per cent rise over the previous month, Crisil FundServices said in a report. During July, FIIs invested over Rs 11,600 crore (Rs 116 billion) in Indian equities, while MFs bought Rs 1,825 crore (Rs 18.25 billion) shares, as per data available on the website of Securities and Exchange Board of India.
Equities registered their sharpest ever and most rapid decline in 2008, reflecting global market conditions and concerns over a slowing domestic economy.
The Indian banking sector that has remained almost immune to the global economic slowdown is in for a tough time as non-performing assets of banks are expected to more than double to 5 per cent of total advances in the next two years, says an analyst.
Jaitley's fiscal arithmetic, Crisil said, is "shaky", and the scope for fiscal slippage "remains high".
The company was looking to raise around Rs 1,800 crore for a stake sale of 10 per cent.
Such cold-shoulder by banks also indicates a credit freeze that is hard to overcome, unless the government comes out with credit guarantee schemes for loans given by banks. Since that is not happening, and there is no indication of that too, banks are not willing to listen to RBI prodding.
Bankers said as part of its debt reduction plan, Canada's Brookfield-sponsored India Infrastructure Trust acquired a pipeline for Rs 13,000 crore from East West Pipeline Ltd, an arm of Reliance Industries Holding Private Ltd, and all the liabilities are now off the subsidiary's books.
With the stock markets being on a downturn for most part of the year, many asset management companies (AMCs) are sitting on huge piles of cash or cash equivalents, with some equity-oriented funds holding as much as 40 per cent of their assets in cash, a Crisil report pointed out.
Trust today means more than the belief that a brands' products will work as advertised; consumers want to believe that the company truly cares for its customers.
With infrastructure claiming a larger share, movement and distribution of cement is bound to change.
Global rating agency Standard and Poor's said on Friday large scale acquisitions may put pressure on the financial profile of Indian corporates notwithstanding the positive impact of such transactions on businesses.
There is no doubt the oil companies are bleeding, but the issue is whether the government should also reduce the extra taxes it gets from high oil prices.
On the contrary, the fall in the US markets was lower with the S&P 500 and Dow Jones both declining by around 9 per cent and 6 per cent respectively, while emerging markets lost around 18 per cent during the month. Pessimism in the financial markets following the filing for bankruptcy by Lehman Brothers, Merrill Lynch's sell-off, the AIG bailout and perceived uncertainty around the US bailout package added to investor fears.
Use this window to lock into bank FDs; unless govt cuts small savings rates, banks may not cut deposit rates
A relatively slow performance by the industrial sector and a high base effect may slow down gross domestic product (GDP) growth in the second quarter (July-September) of fiscal 2007-08 to below 9 per cent, feel analysts.
The securities -- Pass Through Certificates, backed by the new and used car receivables, originated from ICICI Bank and have been issued by Indian Retail ABS Trust under the bank's securitisation programme. Credit rating agency Crisil has assigned the high investment grade rating to these securities. The bank would assign the pool to the trust and will receive a purchase consideration equal to the pool's principal outstanding.
Rupa Kudva, managing director and chief executive officer of credit rating agency CRISIL, talks about her career lessons and success mantras.
Also build a contingency fund equal to 9 to 12 months of expenses.
The number of base stations installed by Indian wireless operators is inadequate to provide high-quality services to the growing number of mobile subscribers, said a research.
According to Crisil Research, the average room rates in cities like Chennai, Hyderabad and Bangalore are likely to fall 5-10 per cent in the next few months. Industry experts said the occupancy rates could fall from 75-80 per cent now to 65-70 per cent soon.
The capital infusion would help improve the financial health of banks. While some banks would get necessary regulatory capital while others would get it for fueling growth.
Unlike bank FDs that are considered risk-free investments, NCDs do carry a certain amount of risk, primary among them is the risk of default, either servicing the interest payment or meeting their principal repayment obligations.
His portfolio was worth Rs 12,333 crore at the end of June 2018. It was worth Rs 10,633 crore at the end of the September quarter. Smallcaps account for the largest number of his stock-picks. Such a fall has now happened for the third quarter in a row.
India's lack of financial inclusion is well known but that slightly more than 50 per cent of the population just has a simple savings bank account is distressing.
The return of private investment now struggles with lack of funds and election-driven uncertainty.
The country's narrowing power deficit and increased coal production may not be indicators of the end of stress in the industry. Amritha Pillay reports.
At the pre-Budget meeting at Niti Aayog, Modi called for a focussed effort from all stakeholders in order to achieve the target of $5 trillion economy. The participants urged the government to focus on credit expansion, exports growth, governance of PSBs, increasing consumption and job creation.
These bonds carry AAA/stable rating from Crisil. The tenure of this paper is expected to be 10 years. "The yields on the 10 year government bonds dipped from around 8.6 per cent at the end of September to about 5.7 per cent now. Hence, the bank will save on costs as it will be in a position to place bonds at lesser rates now," a senior SBI official said.
The country's GDP grew at the fastest pace in seven quarters at 7.7 per cent in the January-March period, retaining the fastest growing major economy tag on robust performance by manufacturing and service sectors as well as good farm output.
According to research by IHS Markit, for an ecosystem still grappling with infrastructure issues -- the high cost of EVs and a greater OEM (original equipment manufacturer) focus on electrifying two-wheelers and commercial vehicles first -- the share of such vehicles is expected to be 4 per cent by 2030, reports Pavan Lall.
ABN Amro Asset Management's latest offering ABN Amro Sustainable Development Fund seeks to invest in 'socially responsible companies,' and is the first of its kind in India.
With its ability to invest in equities or debt depending on market conditions, ODFoF offers investors the opportunity to add to their portfolios what can typically be termed as an asset allocation fund.
Crops including fruit, vegetables account for 60% of GDP in agriculture, forestry, fishing sector.
The present home loan non-performing asset figures of banks understate the extent of delinquency in the sector as loans given in the last three years
The general nervousness because of the IL&FS default will prevail in the system for now.
Mutual Funds continued to be net buyers to the tune of Rs 3,179 crore (Rs 31.79 billion) in the secondary market compared to a net buyer position of Rs 64 crore (Rs 640 million) in May, a study by fund evaluation and risk solutions provider Crisil FundServices stated. Fund houses have made net equity purchases close to Rs 7,614 crore (Rs 76.14 billion) till June end this year.
Roads account for the second largest amount of bad loans.
Gokarn was the first Indian central banker who regularised warnings to the government, through the monetary policy statement, on the need to reduce fiscal deficit.
Expressing concern over high debt exposure of many companies in India, global rating agency Standard & Poor's on Tuesday warned India Inc that high oil prices can trigger inflationary pressures, trim corporate profits and slow down industrial activit
