Global Entrepreneurship Summit (GES) is underway in Hyderabad. In an exclusive chat with CNBC's Sri Jegarajah, MD and CEO of ICICI Bank Chanda Kochhar talks about the mega bank recapitalisation plan and what is the way forward.
Do not expect such high divergence for other banks and what happened with Axis Bank to happen with the peers, says Srikanth Vadlamani, VP-Financial Institutions Group, Moody's.
Ours is Company, which honestly tried to restructure its debt even if that meant parting of precious assets because credibility is more important, said Manoj Gaur, Executive Chairman, JP Associates.
In an interview with CNBC-TV18, Keki Mistry, VC & CEO of HDFC spoke about the slash in home loan rates.
The earlier avatar of wholesale financiers is DFIs - development finance institutions like IDBI, the old ICICI and IFCI. They failed and the first two got merged into their retail banks. But now with bank financing of infrastructure misfiring, is there a need to rethink the idea of DFIs
Even as banks have been accused of being behind the curve when it comes to cutting interest rates, ICICI Bank MD and CEO Chanda Kochhar says in the current financial year, they have been more proactive than the central bank itself.
Speaking to CNBC-TV18 Romesh Sobti, MD & CEO of Indusind Bank said that CV sales in November weren‘t as bad as expected. December wasn‘t as bad as forecast.
Sources tell CNBC-TV18 that the Enforcement Directorate may have found unusual activity in over 200 accounts across banks in Mumbai. This unusual activity is believed to have occurred in the accounts of about six public and private sector banks.
The company has been an integral part of digitisation and will continue to expand their horizons, said CP Gurnani, MD & CEO, Tech Mahindra.
The demonetisation move by the government has led to a spurt in value of transactions done via mobile and other online modes, says ICICI Bank‘s MD & CEO Chanda Kochhar. Digital and non-cash transactions have gained traction and a large number of inactive debit cards have also started being put to use, she says.
Pawan Munjal, Managing Director of Hero Motocorp and Madhavan Menon of Thomas Cook believe that demonetisation will aid in long-term but lead to short-term pain
Speaking to CNBC-TV18 Chanda Kochhar, MD & CEO, ICICI Bank said the need of the hour was to make customers life easy and so all their branches were stocked up well to meet customers‘ needs.
The Essar Group has a total debt of about USD 17 billion, with ICICI being one of its largest lenders.
Essar Group lenders gain on account of relief from the Essar-Rosneft deal. Siddharth Purohit, Senior Research analyst at Angel Broking speaking to CNBC-TV18 said that it is a positive development for ICICI Bank, one of the major lenders to the group.
Speaking to CNBC-TV18, State Bank of India's Chairman Arundhati Bhattacharya said that the Essar deal will get the group's debt to move to another organisation and believed it was a good deal with Rosneft. â€œI am hoping it will help Essar Group to bring down leverage and stress they have in other accounts.â€
In an interview with CNBC-TV18, Andhra Bank MD and CEO Suresh N Patel said the bank had fully complied with the Reserve Bank of India's asset quality review guidelines that had called for stricter provisioning of doubtful accounts.
Strategic debt restructuring is a useful tool, said Kochhar, adding, the bank has successfully managed to find a buyer for one of the companies it had invoked the restructure for.
Speaking to CNBC-TV18, Atul Dagga, CFO of UltraTech Cement, said the total capacity of the company post the acquisition will go up to 90 mtpa.
Rajat Monga, Chief Financial Officer & Senior Group President of Financial Markets, Yes Bank is confident of seeing an improvement in credit growth going forward and expects the underlying credit growth to be around 13-14 percent.
Managing Director and CEO Kishor Kharat says the bank has more than Rs 3000 crore of non-core assets and that it will raise Rs 600-650 crore by March 2016 by selling some of those assets
The bank has lent close to Rs 2000 crore to the infra company.
Indian's largest private sector lender, ICICI Bank, will be selling 6 percent stake in its joint venture (JV) ICICI Prudential Life Insurance and 9 percent stake in its general insurance arm.
Nitin Patel, Director, Sadbhav Infrastructure says the company is already working to convert loans for its Ahmedabad Ring Road project and he expects FY16 finance costs to come down by Rs 100-110 crore.
Former chairman of State Bank of India AK Purwar says even larger banks will start feeling the heat and pinch of this, not just midcap and small banks. In a neck and neck competition, he says: â€œIt will become a question of survival of the fittest.â€
The ED has arrested one Manish Jain under the Prevention of Money Laundering Scam. Jain transferred more than Rs 500 crore through 70 fake bank accounts