Jet Airways is looking to lease around 20 Airbus A320 aircraft from lessors by 2024 as it aims to restart operations and fly international routes in the next one-and-a-half years. Jet's A320 aircraft fleet, according to sources, will be a mix of the Ceo and the more fuel-efficient Neo variants. These planes were originally intended for Russian airlines but could not be delivered following western sanctions on Russia over its Ukraine invasion.
With many getting payment reminders, confusion prevails among borrowers, term-plan investors and credit cardholders over the implementation of the three-month moratorium on all loan repayments amid disruptions caused by the coronavirus outbreak. As part of measures to alleviate hardships faced by people, the Reserve Bank of India, on March 27, announced a slew of steps, including a three-month moratorium on loan repayments.
Despite the demonetisation of 2016 and the rise in digital transactions that followed, the economy's dependence on cash has remained as high as ever. So when the Reserve Bank of India (RBI) introduced a pilot project of its version of digital cash - called the central bank digital currency (CBDC) - on December 1, many questions were asked. Can the CBDC replace physical cash, even partially? Can it match cash in terms of convenience? Are CBDC transactions truly anonymous?
Indian companies will have to repay overseas debt worth $7.5 billion in the June quarter.
Bankers say there is palpable fear among erring promoters that the banking system just cannot be taken for granted, and any delay in loan repayment could mean promoters losing business
Currently bankers are trying to stave off bankruptcy even as media reports said Etihad Airways, which already owns 24 per cent in the airline, has teamed up with the Hindujas to buy the airline.
'Making money in such markets is typically harder and investors need to put in considerable effort to identify stock ideas over the year.'
The Indian regulatory framework forced Citi to hibernate -- contrary to the claim that it never sleeps!
'No commercial bank will be allowed to fail. There is nothing to worry about.'
The company, backed by China's Ant Group, is planning to issue fresh shares worth Rs 7,500 crore in the IPO. This will make this India's third-largest offering after Reliance Power and DLF.
Not only has the Mudra loan mela generated no jobs, it has frittered away trillions of taxpayers' money and it's time to bury the scheme, argues Debashis Basu.
Several airlines, hotels, travel and tourism companies are expected to move their applications for one-time restructuring as soon as the moratorium ends.
Uncertainty is emerging as the only certainty, said RBI Governor Shaktikanta Das as he emphasised on continued policy support at the December MPC meet during which members expressed concerns over spread of the Omicron variant of coronavirus, as per the minutes of the rate-setting panel released on Wednesday. After three days of deliberations, the six members of the Monetary Policy Committee (MPC) on December 8 unanimously voted for status quo on policy rates for the ninth consecutive time. At the meeting, the RBI Governor said risks stalking the global economy have amplified with rapid spread of the virus mutations, including the Omicron variant, leading to countries scrambling for restrictions.
'I defended them -- Amit Shah and Narendra Modi -- in over 10,000 national debates, but I never asked for any favour.'
The Reserve Bank on Tuesday said it would come out with norms on salaries of CEOs of private and foreign banks by June end, in a move reminscent of the US seeking to control pay of Wall Street executives.
It's raining IPOs, with eight issues hitting the market in a span of six days. However, the pace of new filings points to a deluge during the latter part of the year. So far this year, 58 companies have filed their draft red herring prospectus (DRHP) with the market regulator for initial public offerings (IPOs), exceeding the combined tally of 50 in the last two years. Industry participants said the filing count could cross 100 this year, setting a new benchmark in terms of amount mobilised in a calendar year.
Newly-appointed British Prime Minster Rishi Sunak said on Tuesday that he has been elected to fix some of the "mistakes" made by his predecessor as he promised to place "economic stability and confidence" at the heart of his government's agenda.
This is how Imarticus Learning plans to train freshers become job-ready as investment bankers
Indian corporate are fast tapping the international bonds market to raise funds for their operational expenses even as they reduce their presence in the rupee bond market. As bonds are costlier for companies and investors are more sceptical than the banks, chief financial officers say they are looking at other avenues for raising funds in the coming months as dollar bond rates are lower in the range of 100 to 250 basis points. "For corporate with reasonable credit quality, the Indian bond market has become less of an option from a cost point of view. "In addition, conditions imposed in the Indian bond market by investors post Franklin episode have also become very onerous," said Prabal Banerjee, president-finance of Bajaj group. "Hence very few corporate are looking at the local bond market for resource mobilisation, since both, bank loans and the overseas bond markets are much more attractive," he said.
'India is not so distant from years of high and entrenched inflationary expectations that it should start trying to play games with the economy the way the West's central bankers think they are entitled to,' argues Mihir S Sharma.
Addressing the 74th Annual General Meeting of the Indian Banks' Association (IBA), she said the industry needs to imagine how Indian banking has to be in the immediate and long-term future. As far as the long-term future is concerned, she said it is going to be largely driven by digitised processes and there is a need for seamless and interconnected digital systems for a sustainable future for the Indian banking industry.
Conversion of debt of the stressed telecom player Vodafone Idea Ltd (VIL) into equity could be an option to emerge out of the crisis, lenders led by State Bank of India (SBI) have suggested to Department of Telecommunications (DoT). DoT had called senior bank officials on Friday to discuss the stress in the telecom sector arising out of the Supreme Court order last month on the adjusted gross revenue (AGR)-related dues payable by telecom majors, including Vodafone Idea and Bharti Airtel, sources said. The top court has given a time period of 10 years to telecom service providers struggling to pay Rs 93,520 crore of AGR-related dues to clear their outstanding amount to the government.
T K S Elangovan has alleged senior bank officials forged documents and faked authorisation from the RBI, to transport huge sums of hawala money during recent elections in the state.
Bank credit growth declined to 8.5 per cent in January from 13.5 per cent in the year-ago period.
The Pandits said they have heaved a sigh of relief on reaching their township at Jagti in the outskirts of Jammu after spending sleepless nights in their rented accommodations in the Kashmir over the past few weeks.
Take their credit card business to sub-Tier-II cities to tap latent demand
Hiring has grown nine per cent this year. And the banking and IT sectors are leading the game.
While the recent volatility in the secondary markets is a concern, experts believe the sentiment towards IPOs is still buoyant.
Prime Minister Narendra Modi on Thursday said his government is using all channels including diplomatic to bring back high-profile economic offenders, leaving them with no option but to return to the country. Speaking at a symposium on credit flow and economic growth, he asked banks to support wealth and job creators with proactive lending while promising to stand by any loans given in right earnest. "In our attempt to bring back fugitive (economic offenders), we relied on policies and law and also used diplomatic channels.
Before joining IndusInd Bank, he was the regional head of RBS' corporate solutions business in Asia Pacific region and was based in Singapore.
India's top bank CEO has fine-tuned his work so efficiently that he has oodles of time for his favourite pastimes.
'No politics for me.' 'I can't handle that at all.'
Various stakeholders, including about 600 developers, bankers and officials from various wings, including the National Highways Authority of India, will also be present.
The government is likely to file draft papers for the mega initial public offering of LIC with market regulator Sebi by next week, while a portion of the issue would be reserved for anchor investors, a top official said on Wednesday.
Come with full data, put in more equity, get other creditors on board and begin homework for RBI okay: SBI chief.
Former RBI governor R Gandhi said that the RBI needs to re-introduce a one-time restructuring package and mere moratoriums will not suffice in unprecedented times like the COVID-19 pandemic.
Reserve Bank Governor Shaktikanta Das on Monday said despite the latest headwinds arising from the Jackson Hole summit leading to extreme volatility, our banking system and financial markets are strong enough to withstand such pressures. Taking the markets by surprise, US Fed chair Jerome Powell had told the annual Jackson Hole summit of central bankers and economists last week that he would have to keep raising federal fund rates to tame inflation, which remains the biggest challenge to the world's largest economy. He also warned of the pains that such monetary policy actions would create on growth and jobs.
