Page 692 - Finance News

Crisis-hit DHFL makes Rs 962 cr payment towards non-convertible debentures

This payment of Rs 962 crore is inclusive of the Rs 500 crore DHFL received from exiting its entire stake in subsidiary firm Aadhar Housing Finance Ltd

Moody's to review YES Bank for downgrade over exposure to weaker NBFCs

As of March 2019, Yes Bank's exposure to Indian housing finance companies and NBFCs was 6.4% of its total exposure

HDFC Bank to begin global search for MD Aditya Puri's successor

Aditya Puri's salary was 248 times higher than the average employee salary in FY19

Excess RBI capital must be used to recapitalise PSBs, says BofA-ML report

The RBI can "monetise networth as the creator of money" and will not have to resort to selling of G-secs or forex reserves

Govt moves NCLT for 5-year ban on IL&FS Financial Services auditors

The SFIO, in its complaint, has alleged that the auditors were aware that IFIN was lending to defaulting borrowers through group companies

Micro housing finance companies choke on acute fund crunch post DHFL crisis

In the last few months, many micro housing companies had already shrunk their lending operations by 40-45% in the absence of funding

No minimum balance, more than 4 withdrawals allowed for no-frill accounts

Banks will also have to provide cheque books and cannot ask them to maintain a minimum balance in lieu of facilities.

RBI's new norms to deal with stressed assets credit positive, says Moody's

The RBI's revised framework brings back the focus on the need for the timely resolution of such assets, says Moody's

DHFL aims to clear all dues by the end of 'cure period', rescale business

According to a company source, the group will repay the dues by Thursday, even as its Managing Director and Chief Executive Officer Kapil Wadhawan said payments will be made on Monday

Threads in Swiss dirty money probe: Tinder date, South Asian terror suspect

Switzerland informs India and other countries about suspected illicit wealth parked in its banks, seeking to shed the perception that the country is a safe haven for dirty money.

NBFC cash crunch worsens; bond issuances at 7-month low of Rs 880 cr in May

RBI is unlikely to repeat a dollar swap but executives in NBFCs are expecting some kind of help from the central bank

RBI to beef up supervision of NBFCs to maintain financial stability: Das

Financial sector governance reforms top RBI agenda

ICICI Bank-Videocon case: ED widens probe, summons Chanda Kochhar next week

Chanda Kochhar's brother-in-law, Rajiv Kochhar, has also been grilled by the ED multiple times in the case

RBI's revised NPA norms give banks 30 days from default for resolution plan

Plan has to be implemented within 180 days after that

For India Inc, 30-day grace after loan default comes as a major relief

On February 12, 2018, the RBI had issued a circular under which banks were asked to initiate resolution or restructuring of loans of Rs 2,000 crore or more if there was a single day of default

New stressed asset norms will aid resolution prospects, say bankers

RBI has relaxed the threshold condition for upgrading an account under a resolution plan

Bank of Maharashtra cuts benchmark one-year MCLR by 0.10% to 8.60%

The one-year MCLR is the benchmark against which most customer loans such as auto, personal and home loans are priced.

IndAS norms on early loss recognition back into play, but in different form

The central bank has also said any action by lenders with an intent to conceal the actual status of accounts or evergreen stressed accounts will be subject to stringent supervisory action

Stressed power assets escape insolvency noose, but uncertainty remains

There are about 10 plants totalling 10 Gw, which are incomplete and are highly unlikely to find a buyer

SBI to link home loans to repo rate from July, cuts interest rates on CC/OD

t was the third consecutive repo rate cut by RBI, with cumulative reduction of 75 basis points in 2019, so far