The ocean has deep secrets. It is a world as vibrant as the one outside. There is a unique ecology that defies common knowledge and often perplexes scientists. This barely-explored territory is also believed to hold vast quantities of precious metals and minerals that can sustain the modern world for centuries. So it is not […]

In March 2014, the government approved two projects for setting up semiconductor units and also created an empowered committee (EC) for implementation of the projects.

The board of directors of AirAsia Group (AAGB) on Tuesday rebutted all allegations levelled against the airline’s top brass including group CEO Tony Fernandes, deputy group CEO Bo Lingam and also AAGB and AirAsia India.

Chinese President Xi Jinping promised on Monday to lower tariffs, broaden market access and import more from overseas at the start of a trade expo designed to demonstrate goodwill amid mounting frictions with the United States and others.

At that price, the IPO would surpass the offering of former national carrier Nippon Telegraph & Telephone in 1987.

An internet diversion that rerouted data traffic through Russia and China disrupted several Google services on Monday, including search and cloud-hosting services.

The chipmaking sector saw another bout of selling in Asia, wiping at least $11.2 billion in market value, as weak forecasts from Nvidia and Applied Materials added to the latest signals that demand for servers, personal computers and mobile is falling.

Ivanka Trump, the president’s daughter and a top White House adviser, sent hundreds of e-mails about government business from a personal e-mail account last year, The Washington Post reported on Monday.

SoftBank has set an indicative price of 1,500 yen ($13.23) per share for its initial public offering (IPO), a regulatory filing showed on Friday, making the deal worth 2.4 trillion yen ($21.16 billion) in one of the world’s biggest-ever listings.

For the Federal Reserve, 2019 has started out looking a lot like 2016: The last time uncertainty over global growth roiled financial markets for months on end.

The two sides have been struggling with more than 100 issues raised by the United States in a lengthy statement given to Chinese officials in May

As President Donald Trump shows his eagerness for the coming 2020 re-election battle, the first lady's fervour for participating in the effort is not that clear.

The biggest palm oil producers stepped up lobbying in Brussels to defend its future in the European market.

Over 40 countries, including the US, which had been one of the last holdouts, grounded airliner’s newest version after a second fatal crash proved one too many.

Loans and advances grew 60% year-on-year during 2019-20, from Rs 44,776 crore in March 31, 2019. Its total deposits grew 32% y-o-y to Rs 57,073 crore during the fiscal ended March, 2020. The bank had total deposits of Rs 43,232 crore as at end of March 2019.

The National Payments Corporation of India (NPCI) has been urging Indians to use more digital payment methods, so that people do not step out even to go to the ATM, reduce social contact and curb the spread of Covid-19.

The fund will work in a similar manner in which the public sector and private sector partnered to invest and rescue Yes Bank.

"Since March 15, our volumes on outward remittance services have increased many fold. There is a significant difference in before-and-after demand since mid of March," said Praveen Kutty, Head of Retail and SME Banking, DCB Bank without quantifying the increase in demand.

ESAF has more than 96% of its exposure in the micro-segment with the average ticket size of the loan being Rs 33,000.

Earlier, the Business Correspondent Federation of India (BCFI) had said that while the BCs were offering services of cash withdrawal, very few are depositing money in the wake of the current lockdown.

Jagdishan and Bharucha are the internal candidates and have been serving the bank for many years each, while Garg is working with American bank Citi at present.

To tackle the current crisis arisen from the COVID-19 outbreak and the consequent nationwide lockdown, the government and the RBI have announced many measures to ease the stress of businesses. 

Digital transactions have gained new heights in the month of March as India announced a lockdown due to coronavirus. The total value of Real Time Gross Settlement (RTGS) transactions also witnessed a spike.

This novel facility offers customers yet another way to connect with their bank from home at a time when they are advised to stay indoors in the wake of the nationwide lockdown, ICICI Bank said in a release.

Market is viewing the fund-raising announcement in a positive light as the lender’s move to build up capital reserves is being seen as a sensible move at a time of uncertainty.

Loan waiver schemes for agricultural loans introduced by some of the state governments may also help reduce stress to some extent.

The Wadhawan brothers are accused in the YES Bank-DHFL fraud cases. The DHFL (Dewan Housing Finance Limited) group has a loan amount of about Rs 3,700 crore taken from Yes Bank that is under "stress".

Experts say more borrowers are likely to line up for emergency credit from banks as many businesses will be hit by the slump in demand and zero footfall in the market in the wake of the pandemic.

The credit card company, promoted by the country's largest lender SBI, said the borrowings at the end of the previous fiscal were provisional and subject to audit.

The tenor of Sidbi’s lending to financial institutions will be 90 days. MSMEs have been cash-starved for a few years and the lockdown to control the spread of Covid-19 is a body blow to their revenues.

NBFCs have been asking for a bail-out in the form of a government credit guarantee or a TARP –like structure.

With the first targeted long-term repo operations (TLTRO) 2.0 failing fresh funding or refinancing to the sector from this route is unlikely to exceed Rs 10,000 crore unless there is a significant change in the banks' response in the second tranche, it said.

In the fiscal ended March 31, 2020, bank loans had decelerated to 6.14 per cent, a near five-decade low, due to slower economic growth, lower demand and as banks remained risk averse.

The remaining Rs 4,500 crore will be raised by way of additional Tier-1 and Tier-2 capital instruments with an inter-changeability option, the bank said in the release.

However, if collections don’t revive rapidly for the NBFCs and MFIs in particular within this period, the liquidity challenges may continue and will necessitate longer term funding,” the firm said.

The lender’s gross NPAs stood at 2.45% of gross advances as on March 31, 2020, up from 2.18% on December 31, 2019, while the net NPA ratio stood at 0.91% of net advances as on March 31, 2020, down from 1.05% on December 31, 2019.

In a response to an RTI filed by Saket Gokhale, the central bank declined to offer names of wilful defaulters as on February 16, 2020, stating that this data is not available.

The bank’s advances grew 15% y-o-y to Rs 5,71,424 crore as on March 31, with retail loans up 24% y-o-y to Rs 3.05 lakh crore, accounting for 53% of the net advances.

The Reserve Bank in October 2018 had barred the bank from granting or renewing any loan for six months and later extended the curbs twice.

This classification will require banks to make provisions of 100% of the total amount due to them as per Reserve Bank of India (RBI) guidelines.

Warburg Pincus affiliate Dayside Investment Ltd and insurance firms ICICI Prudential Life Insurance Company, HDFC Life Insurance, and Bajaj Allianz Life Insurance will infuse capital in the lender.

The three year NCD issue of Indiabulls Housing Finance opened on April 29. Although, the base issue size was Rs 100 crore, but it had a greeshoe option of Rs 900 crore.

Implementation of three months moratorium on repayment of loan instalments announced by the RBI was also reviewed during the meeting.

The state-owned bank launched an emergency credit line to provide funds to its existing MSME and corporate borrowers in the last week of March, soon after the lockdown was announced.

AU Small Finance Bank (SFB) reported an increase of 3.5% year-on-year in PAT to Rs 120 crore (our estimate: Rs 180 crore), affected by higher provisions of Rs 150 crore.

The government can issue recapitalisation bonds, or the RBI's huge reserves of over USD 127 can also be dipped into to help the state-owned bank's recapitalisation needs, it said.

The government can issue recapitalisation bonds, or the Reserve Bank of India's (RBI) huge reserves of over USD 127 can also be dipped into to help the state-run banks' recapitalisation needs, it said.

The loan has been disbursed under a refinance scheme by Nabard from its own resources and was given this week, it said.

Kapoor, former MD and CEO of Yes Bank, was arrested by the ED on March 8 under the Prevention of Money Laundering Act (PMLA). He is accused of sanctioning loans to certain firms against kickbacks.

State-owned Indian Overseas Bank and Bank of Maharashtra on Wednesday announced a reduction in their marginal cost of funds based lending rate (MCLR). "Our Bank has revised the MCLR w.e.f 10.05.2020 until further review," Indian Overseas Bank said in a regulatory filing. The Chennai-headquartered lender said the MCLR for the benchmark one-year tenor loan has […]