The key assets put on the block include its entire stake in Reliance General Insurance Company, the third-largest private sector insurer, and a 49 per cent stake in Reliance Nippon Life Insurance, a joint venture with Nippon Life, which is among the top five private-sector insurance companies.
Blackstone, KKR, and Bain Capital, among others, are in the race for its general insurance arm, and Bandhan Bank, Bain, and Dabur Investments have shown interest for RCap's 51 per cent stake in the life insurance business.
ICICI Bank executive director Kalpana Morparia on Wednesday said the bank was expecting at least a Rs 10,000 crore (Rs 100 billion) jump in its retail advances during the current financial year and was poised to grow organically.
The RBI has shelved its plan for polymer notes more than a decade after it invited interest from global manufacturers for one billion pieces of Rs 10 denomination polymer banknotes, reveals Tamal Bandyopadhyay.
Telecom regulator TRAI on Tuesday released a detailed consultation paper to discuss threadbare the modalities for auction of spectrum across multiple bands, including pricing, quantum and other conditions -- preparing the groundwork for 5G auctions slated for next year. Trai's comprehensive consultation paper runs into 207 pages and throws up 74 questions for industry-wide discussion, touching on crucial aspects like valuation and reserve price of spectrum, including 5G, quantum of spectrum, block size, eligibility conditions for participation in auction, roll-out obligations, spectrum cap, and surrender of spectrum. Norms will also be worked out for new frequencies such as 526-698 MHz and millimetre band, that is 24.25 - 28.5 GHz, in addition to bands such as 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz, 2500 MHz, 3300-3670 MHz.
DCHL owes the bank about Rs 200 crore (Rs 2 billion).
Penalty must act as a deterrent. If it is too low, it could encourage the regulated entities to lap up penalty instead of complying with the norms, suggests Tamal Bandyopadhyay.
The chairman said if companies want to raise money, they should follow rules of the game.
The account turned bad before Chaudhari took over as SBI chairman and the asset was sold to AARC following an open bidding process, months after Chaudhari retired, explains Tamal Bandyopadhyay.
The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, allows banks and financial institutions to auction properties (residential and commercial) when borrowers fail to repay their loans.
Auctioned properties are 10-20 per cent cheaper than the market prices.
The company hopes to raise around Rs 300 crore (Rs 3 billion) through this route, in addition to Rs 200 crore (Rs 2 billion) it plans to raise through a rights issue.
Patel, who headed the RBI from September 2016 till his sudden resignation in December 2018, says in his book thta the government seemed to lose enthusiasm for the new bankruptcy law in the middle of the year he left the central bank. Though Patel does not name anybody in the book, the mid-2018 period he refers to is the time when Piyush Goyal held temporary charge of the finance ministry between May and August.
While law-abiding customers are harassed for KYC and have to comply with endless paperwork even to open and close accounts, DHFL could easily open nearly 260,000 fake home-loan accounts, reveals Debashis Basu.
Currently, confiscation can be done through multiple laws, but it is a complicated process.
The All India Bank Employees Association (AIBEA) has threatened to go on a nationwide strike on August 20.
The regulator asked banks to maintain a high level of capital adequacy ratio to ensure that risks in the sector within manageable limits. The central bank also said there was a need to enhance risk management and added that market participants and securities regulator would expand the information provided about securitised products and their underlying assets.
DHFL has been generating funds through various means and has exited from its subsidiary units to tide over the current financial crunch.
'Despite the pandemic, we aspire to maintain the momentum of last year.'
Vijay Mallya-owned Kingfisher Airlines, which plans to raise $400 million from private equity investors, may have to settle for structured finance such as sale and leaseback or securitisation of receivables, say private equity experts in Mumbai.
The market watchdog along with other regulators is developing bond markets and the current limit on foreign participation in the this markets will move away as the market develops in the next 12 months, said Sebi Chairman M Damodaran.
At the start of April, State Bank of India (SBI) and ICICI Bank, the country's two largest banks, reviewed the situation. They felt the resource-raising madness was over and that interest rates on bulk deposits would drop automatically with credit growth expected to temper between June and September.
In the long run, the amended Securities Bill may partly determine the interest rates that you pay on your home loans. However, some technical issues still need to be resolved
Cases filed in 3 high courts.
The Reserve Bank of India is expected to announce a slew of measures to bring vibrancy into the debt market as part of its mid-term review of the annual monetary policy.
GMR Infrastructure, which owns more than 900 acres in Delhi and Hyderabad airports, is planning to raise Rs 3,000 crore (Rs 30 billion) through land securitisation.
Floating rate home loans will soon be reset, impacting interest rates. In the current situation interest rates might go up, causing more defaults and more volatility in stock markets.
Is this a classic case of throwing the baby out with the bath water?
Though there are several laws enabling banks and financial institutions to recover bad loans, the ingenuity of the debtors have always surpassed those of the legislators and the creditors.
Even existing cases might come under the proposed law, including those of Vijay Mallya, Nirav Modi and Mehul Choski. But, the law would not cover earlier cases.
Debt-ridden Reliance Capital ready to cede control in home finance - Blackstone, Carlyle, Brookfield, and Piramal group are in talks to buy a large stake in Reliance Home Finance.
Demanding that willful default to banks be made a criminal offence under the Securitisation Act, the Delhi unit of All India Bank Employees Association on Monday said the corporate sector owes Rs 13,500 crore (Rs 135 billion) to banks and financial i
The base price for the property was set at Rs 150 crore (Rs 1.5 billion).
Bankers have demanded several changes in the NPA laws including a minimum deposit of 25 per cent of the outstanding loan amount by the defaulter for contesting a bank's claim over its assets.
