Page 896 - Finance News
IDBI Bank mulls action under bankruptcy code in 10 cases
Bank will use NCLT platform for medium sized enterprises where it has the maximum exposure
 "IDBI Bank mulls action under bankruptcy code in 10 cases")
Chanda Kochhar draws Rs 6 crore remuneration in FY17
Kochhar said ICICI Bank is focused on capitalising on growth opportunities
 "Chanda Kochhar draws Rs 6 crore remuneration in FY17")
Syndicate Bank to raise Rs 3,500 cr in FY18
The bank had posted Rs 104 crore profit for the March quarter of 2016-17
 "Syndicate Bank to raise Rs 3,500 cr in FY18")
KVB to raise Rs 760 cr via rights issue, price fixed at Rs 76 a share
Bank to offer one share for every six held; issue proceeds to be used to fuel growth
 "KVB to raise Rs 760 cr via rights issue, price fixed at Rs 76 a share")
City Union Bank net profit up 15% at Rs 128.87 cr
Total income grew 7.2 per cent to Rs 925.75 crore during the quarter ended March 2017
 "City Union Bank net profit up 15% at Rs 128.87 cr")
Repo rate likely to remain unchanged: ICRA
MPC may observe monsoon progress and GST transition before taking a decision, says ratings agency
Right time for RBI to cut down interest rates, says CII
Global commodity prices have moderated and food prices are down, said CII Director General
 "Right time for RBI to cut down interest rates, says CII")
Govt begins hunt for new SBI chief to replace Arundhati Bhattacharya
Bhattacharya's term comes to an end on Oct 6
 "Govt begins hunt for new SBI chief to replace Arundhati Bhattacharya")
Bank of Baroda to raise Rs 9,000 cr via equity dilution this financial year
For March quarter, BoB reported Rs 154.72 cr profit as provisions for bad loans witnessed a decline
 "Bank of Baroda to raise Rs 9,000 cr via equity dilution this financial year")
Indian firms' foreign borrowings in April triple to $1.3 bn
A substantial portion of ECBs in April was taken to start new projects
 "Indian firms' foreign borrowings in April triple to $1.3 bn")
Fund managers calm on IDBI downgrade
Bonds are a govt-backed bank, chance of default is next to impossible, says an income fund head
 "Fund managers calm on IDBI downgrade")
Goldman, Citi among 5 banks hired to advise on IOC share sale
At the current market price, a three per cent share sale would fetch the exchequer about Rs 6,000 crore
 "Goldman, Citi among 5 banks hired to advise on IOC share sale")
Bad loans: IDBI Bank forms new vertical to recover over Rs 5,000 cr in FY18
To control cost, it will also curb staff hiring for at least a year and reduce outsourcing
 "Bad loans: IDBI Bank forms new vertical to recover over Rs 5,000 cr in FY18")
ICICI Bank CEO Chanda Kochhar draws Rs 7.85 crore in FY17
Kochhar's basic salary increased over 15% to Rs 2.67 crore
 "ICICI Bank CEO Chanda Kochhar draws Rs 7.85 crore in FY17")
FM Arun Jaitley to take stock of NPAs at review meet on June 12
Non-performing assets of PSBs have gone past the Rs 6 lakh crore mark
 "FM Arun Jaitley to take stock of NPAs at review meet on June 12")
SBI picks BofA, Deutsche Bank for $2-bn offering
SBI seeks capital to bolster loan growth after reporting fourth-quarter profit more than doubled
 "SBI picks BofA, Deutsche Bank for $2-bn offering")
RBI begins talks with stakeholders on debt recast plan
No timelines specified but there is a definite sense of urgency
 "RBI begins talks with stakeholders on debt recast plan")
GIFT IFSC business grows by 400% in 6 months: MoS Finance Meghwal
While IFSC units of banks did biz worth $3 bn, insurance firms clocked in $1 bn worth transactions
 "GIFT IFSC business grows by 400% in 6 months: MoS Finance Meghwal")
Moody's downgrades IDBI bank; lender says govt support continues
Bank has crafted a turnaround strategy to augment capital base, recover from NPAs
IDBI Bank crafts turnaround plan
In the year ended March 31, 2017, the bank posted a net loss of Rs 5,158 crore