Piramal Enterprises' bid for debt-ridden DHFL received the most votes from lenders at the close of the voting process on Friday, sources said. Piramal Enterprises' bid received 94 per cent votes as compared to 45 per cent for the US-based Oaktree Capital. Voting was done on various parameters, including qualitative and quantitative.
'There's a huge need for advancements in current security incident logging and monitoring practices.'
Nifty PSU Bank index gained 1% led by Allahabad Bank, Andhra Bank, Syndicate Bank and IDBI Bank
Company is looking to raise the funds through dollar-denominated loans.
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Banks had a tough time in recovering loans from corporates in 2014.
The Bollywood actress shares investment tips as well as the best and worst investment decision she's taken so far.
Readers tell us about their first salary and how they spent it.
Bank of New York Mellon Corp has pulled out of providing financial services to the Adani group and its Carmichael coal mine in Australia, saying the venture is incompatible with its environmental, social and governance rules.
Bank CFOs may meet next week to discuss minimum public shareholding and takeover rule issues.
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Bank stocks have underperformed in the second quarter of FY'14 with the BSE Bankex declining 18 per cent compared to fall of 1 per cent in the BSE 30-stock index, Sensex, during this period.
The Sebi intends to introduce the Application Supported by Blocked Amount, which will require retail investors bidding at a cut-off price, to apply through self-certified syndicate banks in which they have accounts.
The S&P BSE Midcap and S&P BSE Smallcap indices gained 0.4% and 1%, respectively
The RBI, which has no interest or mechanism to get feedback from bank customers, is unaware of this. If made aware, it remains silent, proving that it has no problem in allowing lenders to short-change its customers, says Debashis Basu.
The DDCA decided to file a defamation case against Delhi CM Kejriwal and suspended BJP MP Kirti Azad for making "wild and baseless" allegations of corruption against the body.
The Central Bureau of Investigation has started a preliminary enquiry looking into the Rs 950 crore (Rs 9.5 billion) alleged bad loan given by IDBI Bank to Kingfisher Airlines ignoring the company's negative credit ratings and net worth.
Capital markets regulator Sebi on Wednesday streamlined the payment of processing fee through the Unified Payments Interface (UPI) system for shares applied for and allotted during an initial public offering (IPO). In addition, the regulator has devised a new reporting format for capturing the data of all ASBA (Application Supported by Block Amount) applications unblocked by Self Certified Syndicate Banks (SCSBs) and their corresponding date of actual unblock. The new format has been put in place after reviewing the performance of SCSBs on timely unblocking of application amounts and feedback received from market intermediaries, Sebi said in a circular.
Despite high exposure of public sector banks to power, iron and steel sectors, analysts remain in a wait-and-watch mode.
Sebi has asked intermediaries to stagger the offerings as much as possible, said people in the know and ensure adequate capacity building.
The Enforcement Directorate made these claims in an official statement issued by the federal agency following its raids in this case at Chennai, Madurai and Tiruchirapalli on April 9.
All transfers and promotions for next financial year will be decided by respective banks, not by the merged entity.
Tata Steel, SBI, L&T and Sun Pharma advanced 2-5% each.
The Enforcement Directorate has summoned actor Ranbir Kapoor for questioning on Friday in connection with Mahadev betting application money laundering case of Chhattisgarh, officials said Wednesday.
On April 14, 2016, the crime branch of the Thane police had seized over 20 tonnes of ephedrine and 2.5 tonnes of acetic anhydride drugs from a pharmaceutical factory - Avon Life Sciences - in Solapur and other locations in Thane and Ahmedabad.
US-based Oaktree on Monday pipped Piramal Enterprises and Adani Group to emerge as the highest bidder for DHFL after fresh bids were invited under the insolvency process, according to sources. The committee of creditors had fixed December 14 as the last for submission of revised bids. According to the sources, Oaktree raised the bid to Rs 36,646 crore, including Rs 1,000 crore for insurance and Rs 3,000 crore of interest earned, while Piramal Enterprises offered Rs 35,550 crore, including Rs 300 for insurance and Rs 3,000 of interest earned.
SBI, PNB, Bank of Baroda, Canara Bank, Dena Bank, Central Bank of India ended down 3%-12% each.
If a name does not unify the three, there could be continued clash of identities, which could splinter the brand even before it takes shape, say Abhijit Lele and Nikhat Hetavkar.
Driven by a historic IPO boom that saw 63 issuers, led by new-age tech companies, garnering a whopping Rs 1.2 lakh crore ($16.6 billion) from the primary market, investment bankers laughed their way to the bank collecting $1.1 billion in fees in the year just gone by, making it the highest-ever advisory fees collected, says an industry report. At $16.6 billion, the initial public offers (IPO) set a lifetime record in 2021, bettering the previous record of $10.8 billion in 2017 by a wider margin. While the number of IPOs more than doubled from a year ago to 63, the proceeds were more than four-times the amount raised from the same period previous year and the momentum is likely to continue as more IPOs are anticipated next year, with mother of all issues, LIC issue, expected to boost proceeds next year much higher, it said.
The government's step to curtail fiscal deficit is helping the central bank's monetary policy, Rajan said.
'It's a toss-up between a fire sale of equity or merger with a strong bank,' points out Tamal Bandyopadhyay.
Which entrepreneur would willingly part with her or his hard-earned money for grasping, self-serving politicians? asks Debashis Basu.
Of the total, the financial creditors - banks, bond holders and other financial institutions - have claimed Rs 86,892 crore.
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With new private banks in the play, the going could become more difficult for the old-school state-run banks, already losing business and market position, forcing them to think hard towards consolidating and forming larger entities to garner big-ticket deals.
The Indian government is talking to banks for a dollar-denominated financing deal to help repay its multilateral offshore debt, debt markets newsletter BasisPoint said
They are understood to have promoted the Mahadev app and some had entertained guests at a wedding of a promoter of the app (application) that was held abroad.
Promises have been made in the past about cleaning up bank boards, revamping processes, purging vested interests. How far away is that Promised Land?
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.
Experts attribute the lower target to increased allocation under the credit guarantee scheme for small businesses. Out of the Rs 3.21 trillion worth loans sanctioned under the Pradhan Mantri Mudra Yojana (PMMY) in the last financial year, Rs 3.12 trillion were disbursed to entrepreneurs, according to official data.
The Sensex closed higher by 170 points at 26,128 and the Nifty rose 59 points to end at 7,943.
