BUSINESS
No extension for Rana Kapoor, RBI asks Yes Bank to appoint new CEO by Feb 1
Bank's Search & Selection Committee is targeting to complete this recruitment process latest by mid December 2018
BUSINESS
Data localisation: Payments firms that failed to comply with RBI norms being monitored, may escape penalty
By the October 15 deadline, almost 80 percent of industry players including Amazon, Alibaba and WhatsApp have managed to comply with data storage norms issued by RBI.
BUSINESS
NBFC crisis will end reckless lending practices, says IndusInd Bank chief
One would expect the pace of lending will be (slow) like someone said the focus will be more on quality lending than growing the book, said Sobti, IndusInd Bank’s Chief Executive Officer and Managing Director.
BUSINESS
Weekly wrap: Bandhan Bank kicks off Q2 earnings season; Yes Bank appoints advisory firm
In a boost to weaker banks, RBI Deputy Governor Viral Acharya pointed out, in a speech at IIT Bombay, that the prompt corrective action had restricted additional losses at the 12 lenders under its framework
BUSINESS
Interest rate hikes passed on fastest from June to August, says RBI
It is often seen that banks are slower in passing on the repo rate cut to lending rates but are quick to pass on the hikes
BUSINESS
RBI's corrective action on 12 banks limited losses, saved taxpayer money: Viral Acharya
Currently, there are 12 banks - 11 in the public sector and one in the private sector – whose capital, asset quality and/or profitability do not meet pre-specified thresholds
BUSINESS
IL&FS is a 'complex maze': Will public money come to the rescue yet again?
It is still unclear on how much funds will be infused by the state-owned and private shareholders, but the government and regulators have assured to keep IL&FS afloat to save its value
BUSINESS
Your EMIs may go up as RBI puts interest rate cut off the table
A few hours after RBI’s announcement, country’s biggest lender SBI hiked its marginal cost based lending rate (MCLR) by 5 basis points (0.05 percentage points) across maturities up to 3 years.
BUSINESS
RBI to address asset-liability mismatches among NBFCs
As a cautionary measure, RBI has already started an inspection of several NBFCs to assess their exposure to high-risk assets.
BUSINESS
RBI to introduce framework for efficient benchmarks in financial markets
FBIL acts as an administrator of the Indian interest rate and foreign exchange benchmarks
BUSINESS
RBI Policy: MPC keeps repo rate unchanged at 6.50%
Repo rate is the rate at which banks borrow short-term funding requirement from the central bank.
BUSINESS
RBI policy: Rate hike certain; liquidity, currency, health of financial institutions key concerns
Having factored in a repo rate hike already, the market would be looking for outlook going forward
BUSINESS
IL&FS Group companies count stands at a whopping 348!
The emergence of additional IL&FS entities could pose further challenges for the board.
BUSINESS
Sandeep Bakhshi dons a heavy hat after Chanda Kochhar's exit from ICICI Bank
Both the bank and Sandeep Bakhshi may have a lot to prove on the corporate governance and business functioning from here on
BUSINESS
Better safe than sorry: RBI starts inspecting NBFCs for exposure to high-risk assets
The central bank is mindful that NBFCs grew rapidly by taking on more credit risks at a time when banks were averse to lending
BUSINESS
IL&FS timeline: When and what happened so far
IL&FS group is reeling under huge outstanding debt worth Rs 91,000 crore and planning to sell assets to raise funds. Of the total debt, about Rs 57,000 is from public sector banks
BUSINESS
IL&FS appoints Alvarez and Marsal as specialist agency to develop debt restructuring plan
At the AGM, the company passed a resolution to raise capital through rights issue worth about Rs 4,500 crore, approach NCLT for asset sale resolution and get liquidity to repay debtors
BUSINESS
SBI, LIC & Orix likely to participate in IL&FS Rs 4500-cr rights issue
There is no clarity yet on Rs 3,500 crore credit line from SBI and LIC, a shareholder said.
BUSINESS
IL&FS debt crisis: Rating agencies learn a lesson, trust neither shareholders nor large structures
Three rating firms downgraded the debt instrument of IL&FS and the group firms between May and July but 'default' status was not assigned citing strong state-owned promoters and shareholder backing
BUSINESS
Diamonds are forever: My promoter shares of Yes Bank are invaluable to me, says Rana Kapoor
Kapoor, the largest promoter and co-founder of Yes Bank, has taken to Twitter to say that his shares of the bank are invaluable and will remain with him forever like diamonds.
BUSINESS
RBI to meet LIC on Sept 28 to discuss IL&FS rescue plan
RBI will discuss the defaults on debt payments and the possible course of action to be taken
BUSINESS
Yes Bank denies hiding bad loans, manipulating stock price
On September 27, Yes Bank shares ended lower by 9 percent in trade, taking the five-day fall in the stock to nearly 50 percent
BUSINESS
RBI may not extend Yes Bank CEO Rana Kapoor’s term; experts question board’s request to seek extension
Experts say the board's actions too should come under scrutiny at a time when the Reserve Bank of India is taking action against chiefs of private sector banks.
BUSINESS
No request from IL&FS for fresh funds, says SBI Chairman Rajnish Kumar
SBI, which holds 6.42 percent stake in IL&FS, will take a decision on the debt-strapped infrastructure lender after discussions with its board.
