Leveraged balance sheets expose banks to sudden shocks.
Rating agencies on Wednesday warned against more exposure to debt-ridden Kingfisher Airlines, saying more debt may hit banks' credit profiles and add to the burden of provisions.
One-time solution for IDBI, IFCI soon: FM
The Union government will soon make amendments to the foreign trade policy (FTP) to enable exporters to claim export benefits for settling trade in rupees. These benefits are, so far, available for export payments received in foreign currencies. After the Reserve Bank of India (RBI) unveiled a mechanism to settle international trade transactions in the local currency on Monday, exporters have been demanding that the Ministry of Commerce and Industry come up with a clarification on the matter.
When contacted whether Letters Rogatory have been sent, CBI sources said "it is in the process".
The Indian rupee, which has depreciated 1.1 per cent so far in August, is expected to decline further on the back of a strengthening US dollar and a weakening Chinese yuan, according to a Business Standard poll of analysts. The Indian rupee hit an all-time low recently, closing at 83.15 per dollar. Five of the 10 respondents said the Indian currency might touch 83.5 per dollar in August itself, while others said the worst could be over.
ICICI Bank, IDBI Bank, SBI and Canara Bank collectively hold 18.12 per cent equity in RGPPL, which operates the plant.
The Finance Ministry has invited private sector bankers.
Home prices are unlikely to see any fall, with property developers saying they plan to pass on the increase in cost of borrowing to home buyers following the recent raising of bank interest rates.
In similarly-worded notices of attachment dated October 17, Sebi asked 11 banks, including ICICI Bank, Bank of Baroda, HDFC Bank, IDBI Bank, Indian Overseas Bank and Standard Chartered Bank, to attach the accounts of the three individuals.
Industrial Development Bank of India and Life Insurance Corporation of India have forged an alliance to fund about Rs 35,000 crore (Rs 350 billion) worth of long gestation projects, including infrastructure.
Tech Mahindra and United Spirits will replace them in the 50-share index of the National Stock Exchange with effect from March 28.
Many of the Kannada films released last year have had a poor response at the box office. This, coupled with the fact that the global financial crisis has left its impact on the Kannada film industry as well, has seen distributors lose interest. As a result, many films -- including those financed by the IDBI -- are still awaiting release.
India's largest private sector lender ICICI Bank has hit the Chinese debt market for a benchmark issue of about $500 million.
IDBI Bank, SBI, ONGC & PFC show interest in carrier's central Delhi land. Proceeds from the asset sale would be used to clear the government-owned airline's debt.
'It's a clear case of political patronage helping an individual grow.'
SBI announced a 0.40 per cent cut in lending rate to 9.30 per cent, which is the most competitive in the market at present.
Asset quality stress has ballooned recently, as growth slowed and interest rates continued to rise.
IDBI found itself in favour on reports that a parliamentary committee will meet the RBI governor to consider converting the financial institution into a universal bank.
IDBI Homefinance will raise the floating rates on its home loans by 25 basis points with effect from Thursday.
RBI may be inclined to impose severe restrictions on lending in the coming quarters.
A few state-owned banks such as IDBI Bank, Union Bank, Indian Overseas Bank have announced results for FY14.
For state-run lenders, the average NPAs shot up to 14.5 per cent, with IDBI Bank, UCO Bank and Indian Overseas Bank having their NPAs at above 25 per cent.
Discussion paper fixes Rs 1,000 cr as minimum capital for these specialised banks
Quarterly earnings and global cues will be the major sentiment driver for the equity market this week, according to analysts. Of late, Benchmark indices have been on a record-breaking run. "Quarterly results will dictate market sentiment and will be the talk of this week as they pick up the pace. "D-Street will be all ears to any management insights to forecast the future earnings trajectory.
United Bank's exposure to Kingfisher Airlines was around Rs 350 crore (Rs 3.50 billion)
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.
Readers' queries on when, why and how to change their home loan lenders answered.
The ED has pressed charges under various sections of the Prevention of Money Laundering Act against Mallya and others named in the CBI complaint
Agency sources said that besides Mallya, his companies Kingfisher Airlines and United Breweries Holdings Limited have been named as accused in the FIR.
The government may delay Rs 14,000 crore (Rs 140 billion) fund infusion in the public sector banks in view of volatile market conditions.
While govt banks are offering lower rates, private lenders are dangling higher loan-to-value proposition.
The Industrial Development Bank of India has sold 7.56 crore shares (Rs 10 each) of Mangalore Refinery and Petrochemicals Ltd to ONGC Ltd for about Rs 81.5 crore (Rs 815 million).
Of the total 53,334 cases of frauds reported during 2008-09 and 2018-19 fiscal years, involving a whopping Rs 2.05 lakh crore, a highest of 6,811 cases were reported by the ICICI Bank.
Siva group defaulted on payment in 2016 and is also facing CBI investigation
Country's largest insurer LIC and four leading banks, including the IDBI Bank, may invest around Rs 161 crore (Rs 1.6 billion) in Videocon Industries to fuel its expansion programme.
