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.
IDBI Capital says it is seeking bids for "sale of equity shares not exceeding 5 per cent of the equity share capital of the National Stock Exchange of India Ltd".
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 debt-laden Kingfisher Airlines stopped operations in October 2012.
The brand new bankruptcy process is being brazenly gamed by those with connections and money. The touts and fixers of the previous regime have been replaced by a new set close to this one, observes Debashis Basu.
As many as 14,000 runners from across 15 countries will be lining up to take part in a nearly month-long initiative to raise funds for coaches and support staff in various sports amid the COVID-19 pandemic, the organisers said on Thursday. Championed by celebrated national badminton coach Pullela Gopichand, and Arjuna Awardees Ashwini Nachappa and Malathi Holla, 'Run to the Moon' will conclude on July 21 to coincide with the 51st anniversary of man's first landing on the moon.
The Reserve Bank of India's move to raise ceiling on NRE rupee deposits have prompted IDBI, Union Bank of India and Yes Bank to increase interest rates on fixed deposits of non-resident Indians.\n\n
Experts say, investors will be better off exiting them at higher levels and investing in stocks of fundamentally sound companies.
Insurer has also made fresh investments since December 2015 quarter when RBI told banks to recognise bad loans
S&P Global Ratings on Monday expressed scepticism over allowing corporate ownership in banks given India's weak corporate governance amid large corporate defaults over the past few years. It also said that the Reserve Bank of India (RBI) will face challenges in supervising non-financial sector entities at a time when the health of financial sector is weak. Last week, a RBI panel had proposed that large corporate may be permitted to promote banks, as well as raising the cap on promoters' stake in private sector banks to 26 per cent, from15 per cent at present.
The S&P BSE 500 index, which accounts for 94% market capitalisation of BSE listed companies, has gained 45% from its March 24 low. However, out of the BSE 500 index stocks, 225 have underperformed the index by gaining less than the broader index during this period.
The regulatory actions, undertaken by the RBI and the government, came hours after finance ministry sources confirmed that SBI was directed to bail out the troubled lender. For the next month, Yes Bank will led by the RBI-appointed administrator Prashant Kumar, an ex-chief financial officer of SBI.
India's happy problem of plenty found its newest addition in rookie pacer Prasidh Krishna -- a Brett Lee and masala dosa fan who got some top-notch guidance from none other than Jeff Thomson in his journey to the highest level.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The Enforcement Directorate on Friday said it will seek the help of RBI and SEBI to ensure that Mallya group of companies are not able to create third party rights to dispose of its stakes.
The banks also received a warning from the rating agency Care, in February 2016, after Firestar's financials deteriorated.
When contacted whether Letters Rogatory have been sent, CBI sources said "it is in the process".
A four-member team led by CBI additional director Rakesh Asthana will apprise British authorities about the finer points of the loan default cases against Mallya. Two senior ED officials are also part of the team.
The new rates, effective Wednesday, is the third reduction by SBI in this financial year having cut the rates by 5 bps each in April and May, while its home loan rates has come down by 20 bps during this period.
Prime Minister Narendra Modi on Wednesday said the government has no business to be in business and his administration is committed to privatising all PSUs barring the bare minimum in four strategic sectors. "It is government's duty to support enterprises and businesses. But it is not essential that it should own and run enterprises," he said. Modi also said the Centre's policy is to either monetise or modernise public sector enterprises, with the intent that the government has "no business to be in business".
The stimulus measures include extension of the 90-day moratorium on recognition of impaired loans to 180 days, in addition to several relaxations in bank lending limits, including allowing banks to fund interest on working capital loans.
Mallya, once known as the "King of Good Times" for his flamboyant lifestyle, has until Friday to appear before an IDBI committee to explain why he should not be declared a "wilful defaulter".
Auto, pharma, IT, chemicals among sectors with significant reliance on UK and European nations with Tata Motors, Motherson Sumi, Tata Steel, TCS, Wipro, Infosys and Tech M among key names.
Three years after IDBI became a bank, Yogesh Agarwal, bank's third chairman and managing director in as many years, is trying to put the pieces in place. After all, as he pointed out in an interview with Business Standard, the erstwhile development financial institution is grappling with a unique situation, where IDBI and the two commercial banks it acquired since 2005 offer loans at different interest rates.
At the beginning of this year, his stake in the airline stood at 30.14%.
With the lockdown being eased gradually, providing more and more digital solutions, for service delivery and procurement of new policies, is what the corporation is focussing on.
M Damodaran took a bow as Sebi chief after many bold initiatives during his 3-year tenure.
The ED has pressed charges under various sections of the Prevention of Money Laundering Act against Mallya and others named in the CBI complaint
The agency has registered the FIR after a preliminary enquiry on a complaint from the oil ministry.
Godhwani's exit comes at a time when the company's fund raising plans and proposed related party transactions are under scrutiny, says N Sundaresha Subramanian.
The government has already announced infusion of Rs 10,086 crore in Bank of India, Rs 5,500 crore in Oriental Bank of Commerce and Rs 2,159 in United Bank of India.
Out of these seven PSBs, Bank of India is likely to get the highest amount of Rs 10,086 crore, followed by Oriental Bank of Commerce, which might get Rs 5,500 crore through recapitalisation bonds
It is difficult to say if the banking sector will see the worst behind it by March 2020, warns Tamal Bandyopadhyay.
PSU divestment, LIC IPO, fiscal deficit: Budget 2021 marks a clear change in the Modi government's stance from fiscal conservatism to growth orientation.
Nifty PSU Bank index gained 1% led by Allahabad Bank, Andhra Bank, Syndicate Bank and IDBI Bank
The Enforcement Directorate had asked for financial details from both public and private sector banks and a part of these details were submitted last week
'He came back from the US only to work for his country.' 'He has invested his fortunes to build this company and is married to his work.' 'Rarely does one see such commitment.'
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