Rating agency Fitch on upgraded outlook of 10 financial institutionals, including SBI, ICICI Bank and EXIM Bank of India to 'stable' from 'negative' earlier following revision in the country's outlook.
Banking stocks led by Yes Bank, ICICI Bank, Axis Bank and SBI came under heavy selling pressure
'The fact remains that as of today, the justice that I deserve is far off, as it shall take time to prove my innocence, and the future seems uncertain presently,' Mehul Choksi tells his employees in a letter.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
For non-banks, the IL&FS crisis was nothing short of India's Lehman moment, which has for a foreseeable future reset the sector on multiple grounds.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
It is to be noted that the total cases referred under CDR increased to 19 in the second quarter from 16 in the first quarter of the current fiscal.
In line with a weak stock market where benchmark Sensex plunged nearly 300 points, as many as 263 stocks hit their respective one-year lows on BSE on Monday.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Bank of Baroda has relatively better position on impaired assets.
In its RCN issued against a fugitive, the Interpol asks its 192 member countries to arrest or detain the person if spotted in their countries after which extradition or deportation proceedings can begin.
A week after the Reserve Bank of India (RBI) raised key policy rates and asked banks to restrain loan growth as deposit mobilisation remains slow, three state-owned banks responded on Monday by increasing their benchmark lending rates and deposit rates.
The government, on its part, is seeking to counter the opposition's offensive by bringing the Fugitive Economic Offenders Bill.
In an email interview with Ranju Sarkar, International Finance Corporation's South Asia director Mengistu Alemayehu explains why the firm is bullish on building affordable homes in India.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
State owned banks SBI and PNB were the top Nifty gainers along with ICICI Bank and auto shares.
Friday's hearing is expected to be presided over by Chief Magistrate Emma Arbuthnot, the same judge who had ordered the extradition of former Kingfisher Airlines boss Vijay Mallya last December.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
Focus will, however, shift back to corporate earnings, liquidity situation and global events - specially crude price.
The finance minister also said that the merger would not result in any retrenchment but rather improve the benefit of the employees.
After the August 10 deadline, South American conglomerate Synergy Group Corp reportedly evinced interest in the airline, forcing the RP to seek lenders' nod to extend the deadline to August 31. The Synergy Group owns a majority in Colombian carrier Avianca Holdings, which has a codeshare partnership with the state-run Air India.
As yields on 10-year government bonds rose from 6.65% in April 2017 to around 7.50% now, liquidity pressures have increased the cost of funds for housing finance companies.
The bench also said there was merit in ED's contention that while the "driving force behind the companies" (Modi) was not submitting to the agency's jurisdiction, his companies cannot be given any discretionary relief.
It's not necessary to use only external benchmarks, there are multiple avenues to meet the requirement that the RBI wants, the bank said.
The broader NSE Nifty reclaimed the key 10,000-mark and touched a high of 10,143.50 before finally settling at 10,130.65
Confidence had ebbed in the last few years due to default by some errant domestic retailers and exporters. Moreover, many jewellers are believed to have diverted the fund collected through monthly deposit schemes to pay 'mark-to-market' margins on various loans.
Sectorally, telecom, realty, auto and banks were among the top losers, shedding as much as 2.22 per cent.
The government must set up a Bank Investment Company to shrink its role in PSBs, if we are serious about tackling the two persistent issues - lax corporate governance practices and discretionary decision-making, says Shyamal Majumdar.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The 50-stock NSE barometer Nifty finished 14.75 points, or 0.14 per cent, down at 10,382.70 after shuttling between 10,340.65 and 10,393.15.
The British home secretary has granted permission for jeweller Nirav Modi's extradition to India. During their arguments in a London court, his lawyers claimed Modi suffers from mental illness and is a suicide risk if he was sent to Mumbai's Arthur Road jail. A fascinating excerpt from Danish Khan and Ruhi Khan's Escaped: True Stories Of Indian Fugitives In London.
Besides the passports, Modi also possesses multiple residency cards, some of them expired, but covering countries/regions such as the UAE, Singapore and Hong Kong.
As many as 17 locations in Delhi, Mumbai, Hyderabad, Jaipur and Surat were raided by the ED.
For instance, new fund offers of ICICI Prudential, Tata Mutual Fund and Fortis are on, while Religare, HDFC and Principal PNB have applied for launching NFOs.
According to Insurance Regulatory and Development Authority recommendations, a uniform grace period of 30 days is extended for annual, half-yearly and quarterly renewals, and 15 days for monthly renewals.
While in custody and until the first hearing in his extradition case next week, Modi is likely to be held in a separate cell but may also have to share a cell with other prisoners given the overcrowding pressures.
Insolvency professionals feel the bankruptcy code will deter defaulters, but NPAs will not cease unless banks are sensitised on credit appraisal and experts are hired by banks to inspect what is happening with their loans.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
