Page 752 - Finance News

IL&FS impact: Mutual funds' exposure to group NBFCs under Sebi scanner

In some cases, exposure is as high as 12% of the fund's corpus; a few investments are also in AA rated papers that are relatively less liquid

Govt stake in Allahabad Bank rises by 7.6%, shareholding goes up to 79.41%

The preferential allotment of shares is against infusion of Rs 17.90 billion by the government in the bank

IndusInd Bank posts muted 4.5% Q2 profit growth due to ILFS provisioning

Lender takes a one-time contingent provision hit of Rs 2.75 billion against exposure to IL&FS group; without this provision, its profit would have grown 25%

PNB hopes to realise Rs 86 bn by selling non-core assets: MD Sunil Mehta

PNB has already appointed the merchant bankers for sale of its asset in PNB Housing Finance Company

Hyderabad-based startup AnyTimeLoan.in receives NBFC license from RBI

AnyTimeLoan.in has a minimum net owned fund of Rs 20 million

German digital lender Kreditech gets RBI license to operate as NBFC

Founded in 2012 and headquartered in Hamburg, Germany, Kreditech operates in India, Poland, Russia and Spain

NCLAT stays NCLT order on govt's plea seeking protection for IL&FS board

The order noted that some of the groups' companies are already undergoing the Corporate Insolvency Resolution Process of the Insolvency and Bankruptcy Code

IndusInd Bank Q2 profit rises 4.6% to Rs 9.2 bn on higher interest income

Gross bad loans as a percentage of total loans stood at 1.09 per cent at end-September

Liquidity crisis triggered by IL&FS to have deeper impact on NBFCs: Moody's

The report said liquidity tightness could lead to sharply higher financing costs for NBFIs

Protracted liquidity stress to erode Indian NBFCs' credit profiles: Moody's

Says liquidity tightness might lead to sharply higher financing costs, or even difficulty in rolling over their liabilities

IL&FS Employees' Welfare Trust: The link that paved way to riches for some

The trust's dealings were ignored by everyone, perhaps in the hope that the institutions that owned IL&FS had adequate board oversight of founder Ravi Parthasarathy and his people

Chanda Kochhar seeks more time to appear before Sebi for a personal hearing

The coming Tuesday had been set as a date for personal hearing, cross-questioning and recording of her statement

Who will be Rana Kapoor's successor? YES Bank may select MD & CEO by Dec 15

A committee has been set up with three internal and two external members to search for suitable candidates

SIDBI keen to expand exposure in MFI industry as it posts 25% annual growth

Pure-play MFIs have been a significant contributor to the growth in microfinance lending and have posted double the growth rate compared to traditional banks in the last fiscal

BoB chief faces these challenges ahead of merger with Vijaya, Dena Bank

He firmly believes that although BoB is a public sector bank, a lot can be done internally without government intervention

Banks face various risks from trade tensions, market turmoil: IIF Panel

The saddest thing about the Bali meetings is that "Italy is seen as one of the greatest risks in the world," tweeted Davide Serra, the founder of Algebris Investments

IL&FS crisis: NCLT reserves order on govt's plea seeking 90 days moratorium

Such litigation challenges will impinge on the company's newly reconstituted board of directors from taking decisions

Sebi exempts Bandhan Bank from 1-year lock-in period on promoter shares

Bandhan Bank's capital adequacy ratio is in excess of 30%, one of the highest in the industry

IL&FS board initiates austerity measures, appoints directors to 8 main arms

New board initiates austerity measures to rationalise operating and personnel expenses across all group entities and not just the holding company

PCA essential for safeguarding financial stability: RBI's Viral Acharya

Without the PCA imposition, he said some banks would have incurred even higher losses and required even more of taxpayer money for recapitalisation