Page 9 - Financial Sector

Credit Suisse to slide into red as it sets aside $850 mn for US litigation

MBIA sued Credit Suisse in 2009 over hundreds of millions of dollars it paid out to compensate investors after thousands of mortgages failed

Integrating ESG into financial sector to benefit all stakeholders: Report

There has been a shift in focus of many businesses and investors from profits to people as the pandemic unrolled

Blackstone in talks to merge Alight with blank-check acquisition firm

The merger with Foley Trasimene Acquisition Corp would result in Alight becoming a publicly-listed company at a valuation of more than $8 billion, including debt

FSDC deliberated on challenges in transition from Libor-based contracts

In a meeting, chaired by FM Sitharaman, it noted that a multi-pronged strategy involving relevant stakeholder institutions and departments is required in this regard

Fitch now expects lower GDP contraction in India at 9.4% for FY21

Says Covid vaccines aren't likely to reach majority even in a year, Cautions against weak balance sheets, challenges in financial sector

Fin sector must reduce reliance on banking system for fundraise: Sebi chief

t would be a challenging task to achieve the government''s target of having Rs 100 trillion investments in infrastructure by 2024-25 unless the bond market is adequately developed, Tyagi added

It's tough to balance needs of customers and security

People and businesses today are more connected than ever, linking all types of devices and systems to the internet, which can open the door to common cyber-attack methods including ransomware

Financial sector is in the middle of a perfect storm: Pankaj Murarka

"September quarter earnings will be somewhat a mixed bag, as the pandemic has had varying impact on companies across sectors," says Murarka.

IMF says India needs another fiscal stimulus, income support to fight Covid

In the short term, a detailed well communicated and credible medium-term fiscal consolidation plan is also important, alongside an increase in fiscal transparency, IMF said

Cloud over banks, NBFC stocks as moratorium ends and NPA concerns weigh

Impact of rising bad loans may become discernible only in the second half of FY21. This may hurt asset quality and earnings growth, particularly of small and medium-sized banks

FM Sitharaman to hold review meeting with lenders on loan recast scheme

Most state-owned bank execs expect 5-7% of their loan books will require restructuring

Financial sector firms hit market to prepare for post-Covid world

Most private banks and non-banking firms are able to raise money on the strength of their profile

Regulators on guard to stave off a potential sovereign rating downgrade

Trimming of India's sovereign ratings to the lowest investment grade by Moody's Investors Service has triggered the move

PM Modi meets financial regulators, discusses steps to revive economy

According to sources, the meeting discussed various steps that regulators, especially the Reserve Bank of India, can take to push economic growth staring at the risk of contraction

Govt stands behind financial sector for India's growth, says PM Modi

Banks, NBFCs give lowdown on credit flow to PM; present ideas on financial inclusion, housing finance

PM Modi to meet chiefs of all financial sector regulators on Thursday

Finance Minister Nirmala Sitharaman, Commerce Minster Piyush Goyal and Roads and Highways Minister Nitin Gadkari will also be a part of the meeting

India Inc's deal activity at a 6-year low amid Covid-19 pandemic

Last year, India Inc sealed deals worth $88.88 billion in the January-July period, but this year the total transactions are $56.73 billion, fueled mainly by RIL-Jio deals

PM takes stock of financial sector, reviews progress of Rs 20 trn package

As part of this exercise, sources said, he had a meeting on the financial sector of the economy which is an important pillar in reviving growth and demand

Liquidity and asset quality risks for Indian NBFI to continue, says Fitch

Risks due to impact of coronavirus pandemic on borrowers' repayment capabilities and the effects of the moratorium on collections, says ratings agency

Markets have moved out of the panic phase: Ajay Tyagi of UTI MF

The financial sector may go through a volatile phase in the short term, but its ability to create value in the long-term is fully intact.