- Jul22By Bloomberg
The head of a credit fund controlled by Indian billionaire Uday Kotak said the government’s push to rid banks of bad loans will outlast the departure of a central bank governor who battled the problem.
The government’s Rs 23,000-crore equity infusion will provide some respite to the public sector banks (PSBs), but their capital needs are significantly higher than the budgeted amount, Moody's Investors Service has said.
- Jul20By PTI
Country’s largest lender SBI and Brookfield Asset Management have set up a joint venture with initial commitment of over $1 billion to make investments in businesses with stressed assets.
With public sector banks (PSBs) grappling with debilitating bad loans that are set to go up to10 per cent this year, the government on Tuesday released Rs 22,915 crore for infusion into 13 PSBs, including State Bank of India and Punjab National Bank, to help them step up lending and support economic recovery.
- Jul19By AFP
SoftBank plunged in early Tokyo trading on Tuesday as investors gave a thumbs down to the Japanese mobile giant's whopping $32 billion purchase of British iPhone chip designer ARM Holdings.
- Jul17By PTI
Government on Sunday fixed Rs 3,119 per gram as the issue price for the 4th tranche of Sovereign Gold Bonds (SGB)scheme which opens for subscription on Monday.
Taking his critics head-on, RBI governor Raghuram Rajan has challenged them to show how inflation is "very low" before accusing him of "being behind the curve" in his focus on containing price rise than on growth and debunked such criticism as mere 'dialogues'.
Reserve Bank of India’s new system of identifying and monitoring stressed assets of banks has hit small and medium enterprises hard, with the latter’s loans getting increasingly classified as special
Private sector HDFC Bank plans to focus on digital platforms in rural and semi-urban markets to achieve sustained growth in the coming years.
- Jul06By Yoshita Singh, Press Trust India
India’s banking sector currently faces some stress mainly due to “stalling” of projects between 2011-2013 and efforts are being made to ensure the “de-bottlenecking” of these projects, SBI chairman Arundhati
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