The rupee touched a high and low of 65.91 agaisnt the greenback during the day.
New SDR norms allow promoters to manage debt-laden firms.
The Asian Development Bank has given a loan of $313.6 million to the Indian Railways for strengthening its golden quadrilateral project, an official release said on Wednesday.
With March 2016 being the final quarter when banks will have to disclose their stressed assets, the markets are assuming the worst is yet to come
The government and World Bank on Tuesday signed an agreement for a credit of 180 million SDR ($250 million equivalent) from International Development Agency for the Technical Engineering Education Quality Improvement Project.
RBI deputy governor N S Vishwanathan has said the new framework was in line with the Insolvency and Bankruptcy Code guidelines.
Consensus continues to be cautious with analysts pointing towards tougher days ahead
What will be its impact on the banks's balance sheets? Since banks need to provide for 10 per cent of the loans restructured, they would need Rs 50,000 crores to Rs 80,000 crore for this purpose, notes Tamal Bandyopadhyay.
These together account for 40 per cent of bad loans of around Rs 4 trillion.
The RBI should provide readily accessible summary information on its website about all corporate debt defaulters and the amounts involved.
RBI, govt steps to help banks end NPA woes by Mar'17: Rajan
Reliance Jio to take over mobile business assets of troubled RCom at an estimated value of Rs 24,000-Rs 25,000 crore.
The total external debt of $426 billion showed an increase of $21.1 billion over the March-end level.
Pointing out to the 133-acre Dhirubhai Ambani Knowledge City on the outskirts of the financial capital, he said there is huge realty play opportunity that RCom's erstwhile corporate headquarters possesses, and pegged the potential value creation at the site at Rs 25,000 crore.
Companies stand to benefit in longer term from comparative pricing landscape
Public sector banks' need for capital should be used to make fundamental reforms to their governance and management.
If the REER is to be restored to its 2004-05 level, the rupee has to depreciate a lot, says V K
Experts said the new framework has ensured that the focus has moved to creditor protection from debtor protection.
Banks have been patient and flexible in rescheduling loans.
India's external debt at the end of the first quarter of the current fiscal declined by 0.9 per cent on sequential basis to $388.5 billion due to strengthening of the US dollar against rupee. In absolute terms, the decline was of $3.6 billion.
IMF members will also be examining whether China's heavy intervention in the yuan market was befitting of a freely convertible reserve currency
There has been sizeable rise in external commercial borrowing and and rupee denominated Non-resident Indian deposits.
So far, among the IBC cases, SBI has been able to recover Rs 8,500 crore from Tata Steel's acquisition of Bhushan Steel. Another Rs 1,500 crore is in an escrow account on account of Electrosteel Steels.
The non-watchlist stress emanated from over five year-old loans in the iron and steel, infrastructure and construction sectors.
Markets ended weak tracking the expiry of April derivative contracts.
The RBI needs to maintain a healthy contingency reserve so that it can lend its support in case of a bank failure.
P S Jayakumar, managing director and chief executive officer, Bank of Baroda, speaks to Abhijit Lele & Hamsini Karthik about loan recoveries, sounding more confident than a year before.
Punjab National Bank has made a name for itself in recovery of bad loan dues. Usha Ananthasubramanian, managing director and chief executive officer of the government-owned lender, explains how it has achieved this reputation.
Close to a million small shareholders have stake in nine NCLT-bound companies
It is a national economic problem and one that requires a political solution hand in hand with a clear government commitment to stand behind core national assets, says Vinayak Chatterjee.
The NPA of the public sector banks rose to 6.03% as of June 2015.
Investors still seem to have a disinflation bias to their thinking.
Rajan, as expected, furthered his predecessors' agenda and continued with the same resolution to make India's financial system safer, and direct the economy towards further liberalisation
Faced with sluggish economic growth and dwindling exports, China on Wednesday devalued its currency for the second consecutive day.
Expectations were probably too high from Narendra Modi.
This is the first time in the RBI's history that a governor is leaving without willing to renew his contract
Once these banks start showing losses, they will not be able to pay dividends to the government nor pay taxes, which will further aggravate the situation for the government as its return on investment as an investor would be very negligible for the next few years, says M V Subramanian.
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