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Abhijit Madhav Lele covers banking financial services at Business Standard. Earlier, he has worked with the Press Trust of India, covering banking, finance, and capital markets in Delhi and Mumbai (1997-2006). He also had a stint in the editorial team of India Economic Update, a Dalal Street Journal group publication (1995-1997). He has also worked as a lecturer (psychology) with Sathaye College, Bombay University (1992-95).
Abhijit Madhav Lele covers banking financial services at Business Standard. Earlier, he has worked with the Press Trust of India, covering banking, finance, and capital markets in Delhi and Mumbai (1997-2006). He also had a stint in the editorial team of India Economic Update, a Dalal Street Journal group publication (1995-1997). He has also worked as a lecturer (psychology) with Sathaye College, Bombay University (1992-95).
Piramal Enterprises's (PEL's) Rs 3,000 crore fundraising is through debentures.
Public sector bank executives point out that banks understand the need to provide critical support to borrowers hit by the lockdown, imposed to contain the spread of Covid-19.
The extension has been granted based on the feedback received from banks and taking into account the disruptions caused by COVID-19, RBI said in a statement
CARE Ratings has revised outlook on Future Lifestyle Fashions Ltd's long term loans from "positive" to "negative"
Besides challenges faced by wholesale NBFC in particular, the credit costs (amount to be provided for stressed assets), are likely increase post outbreak of COVID 19
This is despite cash collection delays amid Covid-19 pandemic, as favourable regulatory frameworks ensure stable operating profits, rating agency says
To tap RBI refinance window for funding to RRBs etc
However, there was no clarity on whether the finance companies that borrow from banks would get the option to delay payments to their lender banks.
The negative outlook reflects risks of further weakening in Tata Steel's credit profile if the effect of economic conditions and lower commodity prices are more prolonged than current expectations
CII has sought an increase in credit limits for all regular banking accounts by 25 per cent
Public trust in public sector banks will remain strong, underpinned by a perception of strong government protection for them, Moody's said
Agency says weaknesses in JSW's credit profile, such as its exposure to weakening steel demand for manufacturing and volatile material costs, have left it vulnerable to shifts in market sentiment
Sources say PBoC may have increased its stake by 0.2 percentage points in March
Most banks are yet to decide on giving moratorium to shadow lenders
According to him, interest rates will go down further, but banks must pass them on to companies.
The credit cost, amounts set aside for bad and stressed loans, for the Indian banking system will rise to 2.8 per cent in 2020-21, from the previous estimate of 1.5 per cent, S&P said in a statement.
The Union Bank CEO said that the RBI's package would help in sustaining business at a time when a 21-day nationwide lockdown to stop the spread of the COVID-19 virus
SBI also cut interest rates on retail term deposits by 20-50 bps. For bulk deposits, the cut was steeper, by 50-100 bps, due to huge liquidity in the system
Increasing challenges from the pandemic are expected to worsen an already difficult operating environment, Fitch said
Strategic plan to factor in Covid-19 impact