Mallya has lived on the edge for long enough to know that his extradition from UK is not a given, says N Sundaresha Subramanian.
Naresh Goyal-owned group companies, including the airline's general sales agent in India and abroad, and a car rental firm, are among those who have filed claims.
The finance ministry is not in favour of providing further budgetary support to ailing IFCI, but is considering a proposal to restructure the oldest financial institution and then merge it with a major bank or FI other than IDBI.
Despite gold prices hitting record highs, analysts aren't gung-ho about the outlook for gold financiers Muthoot Finance and Manappuram Finance. This, they said, was due to intense competition from banks, coupled with stagnating loan books and likely pressure on margins.
Probe agency to set up special software to probe money trail in the case.
Given the pressure from India Inc and the banking fraternity, it is surmised that the portfolio rejig will take place before April.
'Flush with funds, lending became a cash management exercise.' 'Road projects, power generation plants, airports etc were financed left and right with apparently no regard for the projects' ability to repay,' explains S Muralidharan, former managing director, BNP Paribas.
Tag for defaults on nearly Rs 7,000 cr loans to long-grounded Kingfisher Airlines
HDFC Bank, the country's second-largest private sector bank, has cut its base rate by 15 basis points (bps) to 9.70 per cent.
Industrial Development Bank of India Ltd on Monday said it will enter into a memorandum of understanding with Netherlands-based Fortis Insurance International NV for setting up a joint venture company. \n
It is understood that Vijay Mallya left the country for UK on March 2 using a diplomatic passport issued to him by virtue of him being a sitting Rajya Sabha Member of Parliament.
High interest rate, policy uncertainty in the year of elections, along with risk aversion led to slow takeoff in credit demand on the corporate front.
The next phase is when factors such as prison conditions in India are likely to take centre-stage.
Banks have been struggling hard to recover dues from grounded Kingfisher Air.
Valuers have found almost no assets to pay for their claims against the Videocon group that entered the insolvency process in 2018. But the dissenters suggest that the money is elsewhere, possibly in the group's oil and gas assets, which are not part of the group's bankruptcy case.
The return of investor confidence in the equity markets is bringing some of the large companies back to the fund-raising table.
Financial shares were the top losers.
Promising swift action on the debit card data compromise issue, Economic Affairs Secretary Shaktikanta Das on Friday said there was no need to panic over the feared security breach that affected over 32 lakh cards.
Seed and early-stage start-ups are high-risk businesses, rarely have collateral and only 1 in 10 of them makes it to becoming a viable company.
The banks used for the fraud include ING Vysya Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, IndusInd Bank, Dhanlaxmi Bank, YES Bank and DCB Bank.
The proclamation was issued by a special anti-money laundering court on June 14 under Section 82 of the Criminal Procedure Code
The enforcement agency had received queries from the Interpol to this effect in May last week.
In his first comments after resigning as RBI governor on December 10 last year amid sharp differences with the government, Patel said banks indulged in over-lending, while the government did not "fully play" its role, and also conceded that the regulator should have acted earlier.
The recent weakness of the rupee has been due to yuan's devaluation.
The company is pursuing the early scheduling of gas with the Centre to restart generation.
Infosys, Bharti Airtel and ICICI Bank are the only companies who have managed to score 100% on a Composite Disclosure Index
The Bharatiya Janata Party regime will have to make good on this election slogan to restore state-owned banks to health, says Rajiv Lall.
Beleaguered businessman Vijay Mallya had made at least four trips abroad before his controversial March 2 departure since a look-out notice was issued by CBI on October 16 last to know his movements.
Mixed global cues and decline in crude oil prices further dent the sentiments.
ED had earlier issued summons to Mallya for "personal appearance" on March 18 under the provisions of the Prevention of Money Laundering Act (PMLA).
The share of listed public sector undertakings (PSUs) in the overall market capitalisation has hit a three-year high of 11.4 per cent. This comes on the back of the sharp outperformance of the PSU pack over the past two years. In 2021 and 2022, the BSE PSU index gained 41 per cent and 23 per cent, respectively. Market participants said a combination of factors like value buying and bullishness, particularly in public sector banks (PSBs), were the reason for the improved prospects.
The impact of the banking crisis in the US was visible in IT bellwether Tata Consultancy Services' (TCS) weak performance in the March quarter of fiscal 2023 (Q4FY23). The firm witnessed slower revenue growth in Q4FY23 and failed to meet its FY23 exit Ebit margin of 25 per cent as some clients, especially in the North American region, took to pausing projects and rising onsite costs offset utilisation gains. Sequentially, the company's revenue grew by just 0.6 per cent on a constant currency basis, which was one of the slowest paces in over 11 quarters.
Following are certain important things that lenders consider while processing loans to self-employed...
RBI may also be open to injecting liquidity through open market purchases of bonds but is resisting relaxing capital buffers for banks.
The challenges before the government, he said, is to put public sector banks back on track and continue to operationalise stalled infrastructure projects
Top 5 losers include Lupin, Cipla, Sun Pharma, Dr Reddy's Lab and GAIL down 1.6%-11%.
Bank of India, Canara Bank, Dena Bank, Corporation Bank and Andhra Bank are among the lenders that received capital infusion from the government.
