Among the other conditions of the Hinduja group for picking up a stake in Jet is that bankers must take a haircut of 80 per cent and that they should help negotiate with operational creditors like aircraft lessors for moratorium on certain immediate payments.
Given the relevance of bank deposits for Indian savers, whether the regulator would permit linking savings interest rate to a repo-like structure needs to be seen, as a move of this nature could increase volatility in savings also.
Currently, banks follow system of internal benchmarks, including Prime Lending Rate, Benchmark Prime Lending Rate, Base rate and Marginal Cost of Funds based Lending Rate.
In the Sensex pack, Bharti Airtel was the top performer, surging 4.61%. Other gainers included ICICI Bank, IndusInd Bank, L&T, Sun Pharma, RIL, HDFC duo, Tata Motors and M&M -- climbing up to 3.69%.
Capt Gopinath, in a deperate bid to fend off a possible auction of his prime residential property in Bangalore by State Bank of India, which had earlier issued notices to sell his pledged properties to recover as much as Rs 259 crore (Rs 2.59 billion), has struck a deal with Sobha Developers to raise funds.
"The central government had rescued other businesses by re-structuring debts to the tune of Rs 30,000-40,000 crore. Compared to this, the amount (debt) of Jet Airways was much smaller. Moreover there was a resolution (accepted) by the lenders to save jobs and to save the airline," Sharma said.
Of the three major Budget announcements related to the banking sector, privatisation of PSBs is the most audacious, says Tamal Bandyopadhyay.
It's not necessary to use only external benchmarks, there are multiple avenues to meet the requirement that the RBI wants, the bank said.
During the current financial year, 25 companies have raised Rs 28,220 crore through IPOs
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
Kharola leads from the front. As a team player, he also uses technology to improve processes whether it is training or assessing metrics, a key trait that would help to improve service quality of the national carrier.
The US FOMC concludes its two-day meeting today while the Bank of Japan will start its two-day meeting today.
Banks will need more funds, as they have to provide more capital.
Twenty years after India's insurance sector was opened up, unshackling the control of state-owned companies, as many as 50 private players have set up shop. Along with their foreign partners, private players have brought about a sea change in the product offering, distribution and underwriting processes, and services levels. Yet, India's insurance penetration needle has not moved much.
'The rate of interest from the EPF is still attractive compared to the rates on fixed deposits, National Savings Scheme, Public Provident Fund...'
As liquid tightening measures were likely to be temporary, any change in lending rates would depend on the length of these measures, according to bankers.
SBI Caps readies plan, identifies 4 assets; bankers say there are enough bidders.
HDFC, the pioneer, ICICI, the game-changer, and SBI, the original teaser, turned the market on its head.
In the past few months, 45 companies have signalled their intent to raise money through the institutional placement route.
Life insurers are launching these again. Invest if you are conservative.
For longer tenure products, they offer higher returns compared to other instruments. But for shorter tenures, things are getting tighter for investors.
The possible date for bidders to submit a resolution plan to the adjudicating authority -- National Company Law Tribunal (NCLT) -- is September 27.
'I want to leave behind the bank stronger and better than when I took over.'
As a percentage of the aggregate Budget expenditure, it is 12 per cent.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Participants are eagerly waiting for the key macrodata -- IIP and CPI numbers due to be released later today.
The first quarter of 2018 saw infrastructure and real estate drive investment worth close to $8 billion across 180 deals
Additionally, promoter Naresh Goyal and Etihad Airways, which owns a 24 per cent stake in the airline, will infuse around Rs 2,000 crore into the airline, sources aware of the development said.
Bids for the issue, which opens on January 23 and closes on January 25, can be made for a minimum of 18 shares and in multiples of 18 thereafter.
The April 2 Supreme Court order quashing the February 12, 2018 RBI circular (which ended all debt recast plans even on a one-day default) put paid to the resolution plan as banks were left with no leeway to restructure the loan and pay the promised Rs 1,500 crore interim funds.
The shares - close to 30% of the total holding - are expected to list on rival National Stock Exchange on or around February 3.
For first time in 8 yrs, stake sale proceeds could exceed Budget Estimates. ONGC's acquisition of HPCL alone could get the exchequer more than Rs 30,000 crore.
The yellow metal is a safe bet in the long run.
Mukesh Ambani-led RIL, which had a cash chest and marketable securities worth over Rs 90,000 crore (Rs 900 billion) at the end of the last fiscal, is known for very effectively managing its financial resources by placing them in liquid instruments and highly rated securities.
Top 5 losers include Infosys, TCS, ITC, M&M and HUL.
A lot of work is needed to be done on the part of the insurance sector behemoth, and the government, before it is ready for its market debut.
Banks are direct stakeholders and are dealing with commercial matters of the airline where the ministry would not like to intervene: Prabhu
Kochhar brothers stepped down from the board of Credential Finance by 2009. While Deepak Kochhar started NuPower Renewables, Rajiv set up Avista Advisory Group
Investors with stalled projects and mounting bad debt will refinance their loans.
Centre plans to acquire land and then give it on lease to miners.
