In the wake of the Silicon Valley Bank (SVB) stock crash and eventual collapse, several Indian Software-as-a-Service (SaaS) companies with US-based operations were withdrawing funds and transferring them to other global banks.
LIC's total exposure to the Adani group is 0.97 percent of its total assets under management (AUM), Chairman M R Kumar said
The Reserve Bank official today asked these lenders to focus more on the medium and small segments where returns are much higher.
Axis Bank has sold its entire exposure worth about Rs 1,000 crore in Essar Steel to Edelweiss ARC, according to people privy to the development. With this the bank joins ICICI Bank and HDFC Bank to sell exposure in Essar Steel reports CNBC-TV18‘s Ritu Singh.
The Reserve Bank of India (RBI) is rightly looking at ways to de-risk the banking system, says Ananth Narayan, Head-Financial Markets, Standard Chartered Bank.
India is the 12th largest foreign holder of the US government securities with exposure to the tune of $118.9 billion as on March-end.
Indian banks have a total loan exposure of Rs 2.77 lakh crore to the steel sector. Of this, eight projects account for 54 percent of the loan book, and all the eight projects are grappling with cost overruns
Flagging the potential threat of contagion to the banking system in case a large corporate fails, the Reserve Bank has hinted at bringing down the single entity and group exposure limits for lenders.
Diversification will also help in the reduction of risk that is of interest to a lot of investors. Achieving this consistently would require some efforts as well as a new thought process and you should work towards this end.
Non banking finance major IFCI is positive on bringing down its gross NPAs to around 20 percent by March 2014. Its CEO and MD, SB Nayar says that asset quality is likely to improve going forward.
Mutual Funds reduced their exposure to banking stocks by more than 2 percent. Their holdings in banking stocks by 2.4 percent in May compared to the previous month.
In an interview to CNBC-TV18, M Narendra, chairman, Indian Overseas Bank talked about the Non- Profit assets. He said NPAs will be lower in the second half as compared to the incremental NPAs in the first half.
Sandeep Kumar Reddy, managing director, Gayatri Projects, says that EPC is our main line of business where we have an order book of Rs 9,500 crore which will keep our order book full for next three years.