BUSINESS
Explained: Why pre-packaged insolvency resolution is great for MSME borrowers
Under the pre-packed framework, which will take effect through a government ordinance, MSME borrowers can retain control of the firm and negotiate a settlement with lenders without going through the entire IBC process. That saves time and money.
BUSINESS
NBFC licence, startup ambitions: At 70, Kerala’s most famous billionaire is planning his next big moves
Kochouseph Chittilappilly, the founder of the V-Guard empire, believes Kerala’s business environment has worsened in recent years due to trade unionism and the government’s lack of support to industries.
BUSINESS
Nirav Modi extradition: The story so far and what it means for Indian banks
The diamantaire's case involving PNB exposed the loopholes in the banks' risk management systems.
BUSINESS
Does a sharp fall in December CPI inflation mean rate cut is imminent?
High inflation has been a worry for MPC. But, any immediate change in the MPC’s monetary stance looks unlikely
BUSINESS
'If it ain't broke, don't fix it': RBI working paper says 4% inflation target is good for India
Recently there were speculations that the government could ask the MPC to loosen the inflation target to facilitate a growth supportive policy.
BUSINESS
RBI cancels licence of Karad Janata Bank, more than 99% of depositors to get full payment back under DICGC
More than 99 per cent of the depositors of Karad Janata Sahakari Bank will get full payment of their deposits from DICGC, the RBI said.
BUSINESS
No rate cut, but the new MPC bets big on growth, looks past COVID-19
The liquidity measures announced will further improve the liquidity conditions enabling banks, NBFCs to push lending further. But, these measures will help only when there is a pick-up in demand scenario.
BUSINESS
Seeing limited enquiries for corporate restructuring so far, says newly appointed SBI Chairman Khara
With respect to the capital requirement, Khara said the bank’s current capital adequacy position is comfortable.
BUSINESS
Explained | CARE rating action puts spotlight on stress on Shapoorji Pallonji’s cash flows
Timely resolution of ongoing dispute with Tata Sons Private Limited will be critical for SPCPL, says CARE.
BUSINESS
NBFC-MFI loan disbursements plummet during COVID; industry hopeful of early recovery
MFIs are institutions that borrow from banks and lend to small borrowers at a margin. The COVID lockdown had severely impacted the operations of these institutions as collection process took a hit.
BUSINESS
Another US-based law firm Pomerantz announces class action suit against HDFC Bank on ‘false and misleading’ statements about its business
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Bank's business, operational and compliance policies. HDFC Bank had inadequate disclosure controls and procedures and internal control over financial reporting, it said.
BUSINESS
Rosen Law, Schall file class-action suits against HDFC Bank in US, allege lack of disclosure
The lawsuits have been filed in the US District Court Eastern District of New York and names HDFC Bank’s outgoing managing director Aditya Puri and CEO-designate Sashidhar Jagdishan along with other officials.
BUSINESS
Is the Banking Regulation (Amendment) Bill a panacea to co-operative banking mess?
While more powers to RBI is good news for UCBs, questions arise on why rural co-operative banks have been left out of the regulatory overhaul.
BUSINESS
PMC Bank crisis one year on: No resolution in sight yet
During investigations, it was found that the bank had been allegedly running fraudulent transactions for several years to facilitate lending to HDIL through fictitious accounts and violating single-party lending rules.
BUSINESS
Analysis | With CPI inflation at 6.7% in August, CEA Subramanian has got his 'expectation' wrong; MPC has a big dilemma ahead
As the August print shows, the CEA’s “expectation” has clearly gone wrong on the course of retail inflation.
BUSINESS
ICICI-Videocon case: Deepak Kochhar arrested. Is Chanda Kochhar next?
The ICICI-Videocon case is unlikely to end with Deepak Kochhar’s arrest. Names of Chanda Kochhar and other ICICI Bank officials who played a key role in sanctioning loan to the Videocon Group could come up next.
BUSINESS
RBI Financial Stability Report: Indian banks’ gross NPAs could rise to 14.7% by March 2021
In a base case scenario, the GNPAs could rise to 12.5 per cent by March next year, the RBI said.
BUSINESS
Analysis| HDFC Bank prepares for COVID-19 shock
The bank has admitted that the COVID-19 pandemic has already taken a toll on the retail loan book.
BUSINESS
How severe is the bad loan shock awaiting Indian banks?
Two key trends — the recent capital raising spree by a clutch of private sector banks and warning by RBI Governor Shaktikanta Das last week — have alerted banking analysts
BUSINESS
Independent director accuses promoters of Rs 600-crore scam in listed optic fibre maker
Promoters of Aksh Optifibre, a Delhi-based company, accused of creating a byzantine collection of shell companies, entering into undisclosed related party deals, and carrying out gold-plated imports. Independent director shoots letters to finance ministry and board calling for forensic audit.
BUSINESS
2 deals, 2 CBI cases: How banks flouted rules while lending to Videocon’s Venugopal Dhoot
Videocon’s loan dealings with banks expose how easily banks could flout norms when approached by a powerful industrialist and raises more questions on the efficacy of safeguards banks and regulators follow to avert corruption in high value loan deals.
BUSINESS
RBI plans systemically important tag for big HFCs, here's what it means
Since most of the big HFCs are already well regulated by the central bank, the proposed categorisation will not make much of a difference.
BUSINESS
What does Moody’s rating downgrade reveal about the economy? Hint: COVID-19 is not the villain
Speculations were rife about an impending rating downgrade with India’s economy taking a severe hit due to the COVID-19 outbreak, the government’s fiscal calculations going wrong due to major revenue loss and weakening economic conditions. So, what’s worrying Moody’s with respect to the Indian economy?
BUSINESS
'Bad bank' is back on the table: But where are the buyers for stressed assets?
In the absence of a strong turnaround plan, the bad bank plan can backfire since this will be only transferring the risky assets in the banking system from one place to the other.
