Bank Guarantees

Sebi ban on pledging clients' funds to take a toll on bank guarantees: Analysts

However, bank guarantees issued to stock brokers and clearing members form a miniscule 2.5-3% of the total bank guarantees issued by banks.

SEBI's new circular on bank guarantees will brew a host of funding troubles for small brokers

Small brokers are in for a tough time as they will have to grapple not only with working capital issues but will also have to funnel in their own funds, in case they were using clients' funds for prop or arbitrage trading

Sebi bans pledging of clients' funds by brokers as bank guarantees

Existing BGs created out of clients’ funds shall be wound down by September 30 this year.

DoT releases bank guarantees of Airtel and Vodafone Idea: Report

The telecom department has also asked the telecom companies to refurnish BGs in an amount equivalent to their next payable instalment 13 months prior to the due date.

Some state govts not issuing bank guarantees to sugar mills linked to Oppn parties: Amit Shah

Ahmednagar district holds the distinction of setting up Asia's first cooperative sugar mill, which is managed by Congress-turned-BJP MLA Radhakrishna Vikhe Patil at present.

Defence Ministry issues SOP for faster verification of bank guarantees during acquisition process

The Defence Acquisition Procedure (DAP) 2020 provides right to the buyer to seek confirmation of the foreign bank's BG from an Indian bank, where required, at the bidder's cost.

Sahara strikes $6bn deal with Helvetica to bail out Roy

The company had asked the Apex Court for time till October 15 for the repayment to Sebi saying that they have struck a USD 6 billion deal with Qatar-based investment group Helvitica Group.

Citi net up by over 18% to Rs 3,423 crore in FY15

Citi India Chief Financial Officer Niraj Parekh expressed satisfaction at the performance saying, it comes in spite of the "uneven" and "unpredictable" growth scenario in the economy.

Hope cos are bidding for coal blocks with eyes open: Swarup

In less than a week, auctions of 11 blocks for the power sector have netted around Rs 60,000 crore. In all, 204 coal blocks will be auctioned in a phased manner, following the Supreme Court‘s order canceling the earlier allocations.

Ajay Singh, partners give plan to infuse $200mn in SpiceJet

As per a capital infusion plan received by the civil aviation ministry, the initial funds from an overall corpus of about USD 200 million may come in by January 10, sources said.

SpiceJet may soon get investor on board

Sources say that the airline has informed the government that an investor will be coming on board soon. The low-cost airline‘s former promoter Ajay Singh has expressed an interest in buying back into the airline, and is even learnt to be helping it draw up a revival plan.

Bank Guarantees: Beware of Fraudsters

SMEs are sometimes at the receiving end of fraudulent bank guarantees. Here's an insight that will help you arm yourself

India's outward direct investment slows in September

Outward direct investments comprise equity, bank guarantees and loans. It has slowed to around USD 1.3 billion from USD 1.9 billion in August.

Govt decides to deallocate coal mine jointly given to 3 cos

Acting on the recommendations of the Inter-Ministerial Group on coal blocks, the government has decided to deduct or forfeit bank guarantees to the tune of Rs 25.7 crore as the case may be, involving 11 firms for sitting idle on coal blocks allocated to them for captive use.