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S&P downgrades Future Retail's issuer credit rating on debt recast

The rating agency might look at an upgrade after liquidity review

Second Covid-19 wave heightens downside risks to India's GDP, says S&P

The country is already facing a permanent loss of output versus its pre-pandemic path, suggesting a long-term production deficit equivalent to about 10% of GDP

Tamilnad Mercantile Bank eyes Rs 1,000-crore IPO by Nov-Dec 2021

The lender's FY21 net profit rose 48% to Rs 603 cr

Bajaj Finance net rises 30% to Rs 1,161 cr in January-March quarter

The company had posted a net profit of Rs 892 crore in the corresponding quarter last year

RBI fixes private bank MD, CEO tenures at 15 years; compliance by Oct 1

The rules apply to private banks, small finance banks, and wholly owned subsidiaries of foreign banks.

Need new well-capitalised asset-reconstruction companies, says RBI study

Notwithstanding the increase in the number of ARCs over time, there has been a concentration in the industry in terms of AUM and the security receipts issued

Fitch affirms India's rating at 'BBB-'; outlook negative due to Covid surge

A resurgence in Covid-19 in the country has increased downside risks to growth

Higher tech investment in realty will lead to better governance: Parekh

Investment in property technology, including digital backbone, should increase efficiency through real-time monitoring of real estate projects

Negative outlook list may get longer, Q1 biz to be hit: Rating agencies

In February, things seemed to be coming under control with vaccination, giving the impression the system would cope with the pandemic

After Citigroup, South Africa's FirstRand Bank to exit India after 12 years

First Rand India is a licensed financial services provider in India and operates as a "branch" of FirstRand Bank South Africa.

A brief look at REPCO, the latest universal bank licence candidate

Repco Bank would approach the private sector for investments. However, it is yet to start such exercise.

RBI constitutes six-member panel headed by former ED to review ARCs

The panel will recommend suitable measures for enabling such entities to meet the growing requirements of the financial sector

Covid-19 surge may hit securitisation in the near term, says Crisil

FY21 volumes below Rs 1 trn as against Rs 1.9 trn in FY20

Cheque bouncing up in April during second wave of Covid-19: HDFC Bank

Ehile cheque returns in April have risen slightly, it this does not necessarily point to a trend, say bank officials

India footprint of foreign lenders: How do income & expenditure stack up

While interest earnings are the mainstay, the banks are also active in derivatives and treasury operations

Four entities apply for universal bank, four others for SFB licence

Entity backed by Flipkart co-founder Sachin Bansal announced its intent for universal bank in Jan 2020

Second Covid-19 wave: Curbs beyond a month to hurt biz, says MFIN

Alok Misra, chief executive of MFIN, said recoveries and collections remained above 90 per cent level in March

Second Covid-19 wave poses threat to India's economic recovery: Moody's

Given the focus on "micro-containment zones" to deal with the latest wave of infections, as opposed to a nationwide lockdown, the impact on economic activity will be less severe than that seen in 2020

mRNA Covid vaccine maker Gennova lines up Rs 250-crore capex: Crisil

The Emcure Pharma arm has tied up with Seattle-based HDT Biotech Corp for the vaccine, on which animal trials have been completed. Phase-I and II trials likely to be completed in 2-3 months

Systemic risk to stay high for Indian banks amid second Covid surge: S&P

The impact of broader lockdowns on the economy could be substantial, depending on their length and scope, S&P said in a statement