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<ul><li>The IPO offer ranges between ₹193-195 per share.</li><li>The IPO subscription will be open until November 26.</li><li>The bank hopes to raise ₹410 crores through the public listing. </li></ul>CSB Bank, which was formerly known as <keyword id="6676099" type="UNKNOWN" weightage="20" keywordseo="Catholic-Syrian-Bank">Catholic Syrian Bank</keyword>, has opened its IPO for subscription today. The IPO subscription will be open until November 26. The IPO offer ranges between ₹193-195 per share, and the bank hopes to raise ₹410 crores through the public listing. Ahead of the IPO, CBS Bank had also raised ₹184.36 crore via an allotment of 94.54 lakh shares to 24 anchor investors. According to <a href="https://economictimes.indiatimes.com/markets/ipos/fpos/csb-bank-opens-today-heres-what-you-need-to-know/articleshow/72177400.cms">reports</a>, the promoter’s shareholding in the company will come down to 49.7% from 50.1%. "While CSB Bank has a long operating history as a traditional bank, it is currently focusing on implementation of strategic changes in its business model to function efficiently as a full service new age private sector bank backed by its new marquee investor, Canadian billionaire Prem Watsa's Fairfax India Holdings Corporation," <a href="https://www.livemint.com/market/commodities/csb-bank-catholic-syrian-bank-ipo-listing-allotment-date-subscription-recommendations-11574390795820.html">HDFC Securities said</a>. Gold loans are a major part of CSB’s business, and made up for 33.17% of its total advances as of September 2019. CSB Bank is one of the oldest private sector banks in India. It has a strong base in Kerala along with presence in Tamil Nadu, Karnataka, and Maharashtra. It has a total of 414 branches across 16 states and over 1.3 million customers with a focus on SME, retail, and NRI customers. In June 2019, the bank changed its name from Catholic Syrian Bank to CSB Bank. “We are in the process of rebranding ourselves to CSB Bank Limited to address region and community related perceptual issues associated with our previous brand name,” the bank said on its website.

CSB Bank hopes to raise ₹410 crores as it opens its IPO

The <keyword id="6676099" type="UNKNOWN" weightage="20" keywordseo="Catholic-Syrian-Bank">Catholic Syrian Bank</keyword>, one of the oldest private sector banks in India, now popularly known as CSB is going for IPO (Initial Public Offering) on Friday, 22 November 2019. With the shares of the bank going for subscription, the investors are keen to know how to check the <keyword id="45961" type="PERSON" weightage="20" keywordseo="Balance-Sheet">balance sheet</keyword> of Catholic Syrian Bank and how the bank is performing in terms of its annual profits and losses. About Catholic Syrian Bank CSB has its strong roots in Kerala and enjoys a considerable presence in the southern states of India including Tamil Nadu, Karnataka and Maharashtra. The main focus of CSB is on retail, SME and NRI customers. The customer base of the bank is around 13 lakh. Though the bank is doing reasonably well which justifies buying its shares, one downside investors note about this bank is its regional concentration in South India. This fact can impact the results of the bank’s operation if any adverse changes happen in the geographical, political and economic conditions of Kerala and the other three states where it is concentrated. CSB and its IPO The IPO of the CSB is open for the public from November 22, 2019. The subscriptions will be closed on November 26, 2019. The bank has proposed to sell 2,10,21,821 shares within the price band of Rs 193-195. The present decision of the bank will put about 1.98 crore shares for sale and the remaining will be offered through fresh equity. The bank aims to mobilize around Rs 409 crore via the issue. The bank has designated three fourths of the shares under offer for QIBs (qualified institutional buyers) while around 15 per cent shares will be allotted for non-institutional investors. The remaining shares will be available for purchase by retail subscribers. Following the IPO, the promoter shareholding in the company will come down to 49.7 percent from the present 50.1 per cent. Summary of the balance sheet of CSB CSB reported a total income of Rs 1,617.50 crore in FY17, Rs 1,422.27 crore in FY18, and Rs 1,483.43 crore in FY19. The bank sustained a net loss of Rs 57.99 crore, Rs 127.09 crore and Rs 65.69 crore, in these three financial years respectively. For the first half of FY 20, CSB reports a total income of Rs 816.71 crore with a profit of Rs 44.27 crore. Though the return on net worth of CSB from FY17 to FY19 was not that encouraging, the bank reported an EPS of Rs 3.86 for the first half of FY20. Final word Market experts say that the issue has been priced aggressively. Brokerage firms say that CSB performed well during the first phase of its transformation during the past two years. However, during the second phase of the developments wherein the bank has to focus on its growth will be really challenging. Experts advise that for listing gains as well as for long term investment, subscribing to the shares of CSB is recommended.

How to check the balance sheet of Catholic Syrian Bank?

New Delhi, Nov 21 () Kerala-based lender CSB Bank on Thursday raised Rs 184 crore from anchor investors, ahead of its initial share sale commencing on Friday.
CSB Bank, which aims to raise up to Rs 410 crore, has fixed a price of Rs 193-195 per share for the initial public offer.
According to a regulatory filing, CSB Bank has finalised the allocation of 94,54,080 shares at Rs 195 apiece to 24 anchor investors, including five mutual funds. Based on the price, the total proceeds would be little over Rs 184 crore.
Omers Administration Corporation OAC Custody Account (SCV6), ICICI Prudential MF, SBI MF, Aditya Birla Sun Life Trustee, Axis MF, Sundaram MF, HSBC and Ashoka India Opportunities Fund are among the anchor investors.
The shares are being sold to anchor investors at the upper end of the IPO price band of Rs 195 apiece.
CSB Bank's offer involves a fresh issue of shares to raise up to Rs 24 crore and an Offer For Sale of 1.97 crore scrips by existing investors. The latter would be worth around Rs 385 crore.
The share sale would be open from November 22 to 26.
On November 19, the bank's Managing Director and Chief Executive C V R Rajendran said its promoter entity Fairfax India Holdings Corporation's stake would go down to 49.73 per cent from 50.09 per cent.
The promoter entity, which acquired 51 per cent in the bank in February, has five years to reduce holding to 40 per cent and 15 years to go down to 15 per cent in compliance with the RBI requirements.
As part of the same requirements, it had to list by September 2019 and some procedural aspects resulted in a marginal delay, he had said. RAM BAL

CSB Bank mops up Rs 184 cr from anchor investors

New Delhi, Feb 4 () Kerala-based CSB Bank, which got listed on the exchanges in December, on Tuesday reported a net profit of Rs 28.14 crore for the third quarter ended December. The bank had posted a net profit of Rs 74 lakh in October-December quarter of the previous fiscal. The lender's total income during the quarter stood at Rs 439.29 crore as against Rs 405.77 crore in the same period of 2018-19, CSB Bank said in a regulatory filing. On asset front, gross non-performing assets stood at 3.22 per cent of the gross advances at the end of December 2019 as against 7.52 per cent a year ago. Net NPAs stood at 1.98 per cent as against 3.67 per cent. The bank's provisioning for bad loans for the quarter stood at Rs 35.29 crore, higher than Rs 27.01 crore in the year-ago period. The bank's shares were listed on BSE and NSE on December 4, 2019. Shares of CSB Bank on Tuesday closed 2.59 per cent higher at Rs 186.50 on the BSE. KPM RVK

Newly listed CSB Bank logs Q3 net profit of Rs 28 cr

Mumbai, Jun 19 () Pralay Mondal will be joining small sized private sector lender CSB Bank as the president of retail business, the lender announced on Friday. The announcement comes days after Axis Bank informed exchanges about Mondal's decision to quit as executive director (retail banking) after spending a year at the bank. In a statement issued by Axis Bank, Mondal cited "personal compulsions" as reasons to quit. Speculation was rife about Mondal joining a smaller private sector lender after the Axis Bank stint, which ends in September. At CSB Bank, Mondal has been appointed as the president of retail, small and medium enterprises, operations and information technology. CSB's Managing Director and chief executive V R Rajendran said Mondal is a "proven trailblazer"who will bring along with him a strong commercial banking experience. "He has an excellent track record of having built retail and SME businesses, while maintaining healthy portfolio quality and service levels. I am confident that we have selected the choicest person for CSB Bank and that he will drive strong and healthy business growth in the years ahead," Rajendran said. The bank statement said Mondal's achievements include pioneering efforts in doorstep banking and direct sales, creating deep geography distribution, and building and scaling up retail businesses. Apart from that he is also credited with building the capital market, wealth management, private banking, NBFC, credit cards, payments and digital businesses from the scratch, it added. Mondal had worked with HDFC Bank and Yes Bank earlier before joining Axis Bank in April 2019 after the appointment of Amitabh Chaudhry as the head of the bank. AA ANU ANU

Pralay Mondal to join CSB Bank as head of retail biz

Mumbai, Jun 15 () Kerala-based CSB Bank on Monday reported narrowing of losses in the March quarter to Rs 59.69 crore as against Rs 150.64 crore in the year-ago period. For FY2019-20, it reported a net profit of Rs 12.72 crore as against a loss of Rs 197.42 crore in the year-ago period. Its chief executive and managing director C V R Rajendran said the yearly profit could have been higher by Rs 225 crore, which was set aside as provisions for a variety of purposes, including the ongoing COVID-19 pandemic. He said the bank will focus on the gold loan segment and is targeting to increase total contribution from the vertical to 35 per cent in FY2020-21 from the present 31 per cent. Despite a tendency to redeem loans at the beginning of the year, it has seen an addition of Rs 125 crore on the loanbook in this segment since April, he said. The bank's gross non performing assets ratio reduced to 3.54 per cent from the year-ago's 4.87 per cent, while the provision coverage ratio was over 80 per cent. Rajendran attributed the Rs 225 crore provisions to a higher than RBI-mandated provisioning of Rs 93 crore, not utilising an option to amortise fraud provision of Rs 22 crore and Rs 4 crore due to impact of COVID-19 pandemic. During the reporting quarter, its core net interest income inched up to Rs 157.54 crore from the Rs 120.50 crore in the year-ago period on a 7 per cent increase in the loanbook and a 0.70 per cent widening in net interest margins to 3.2 per cent. The non-interest income grew to Rs 87 crore from Rs 46 crore. The Thrissur-headquartered bank will add 103 branches during FY2021 and will focus more on the business opportunities outside of its home state of Kerala, Rajendran said. When asked about concerns surrounding remittances, Rajendran said the bank's diaspora deposits have grown by Rs 110 crore since April and attributed the same to money gotten back by the NRIs as they return to settle back in their homeland. The bank's promoter Fairfax owns nearly 51 per cent of the bank and Rajendran hinted that there is no plan for a dilution at present, and added that the grouping has time till 2023 to go down to 40 per cent. CSB Bank shares closed 5.01 per cent up at Rs 141.60 apiece on the BSE on Monday as against a correction of 1.63 per cent on the benchmark. AA MR MR MR

CSB Bank reduces losses to Rs 59.69 cr in Jan-Mar

From Adani Group to Tata Motors and banks ⁠— these 17 stocks have already lost over 10% in last one month

<ul><li>The share price has seen sharp rises and falls in recent months-- adding up to a fall of 72% since Gill took over.</li><li><keyword id="45660" type="CITY" weightage="20" keywordseo="Yes-Bank">Yes Bank</keyword> second quarter earnings were worse than expected. </li><li>The stock lost another 3% plus today after the gross NPA rose over 2.5x in last 3 months.</li></ul>Ravneet Gill moved from Deutsche Bank to take over as the Chief Executive Officer of Yes Bank in March 2019. The share price has lost nearly three-fourths of its value since then. The value erosion in the bank’s share price has to do with a lot of older, hidden dirt coming to the fore. But that’s not the only factor. The confidence of both the investors and depositors has been tested repeatedly by events that have followed. The latest among the news around Yes Bank has been the shocking spike in bad loans⁠— nearly two-and-a-half times jump in just 3 months⁠— and the unexpected loss in the September quarter. “The events that have been unfolding recently corroborate our longstanding negative stance on the stock,” a Kotak Institutional Equities report said on November 2. The stock lost another 3% plus in the first trading session after the earnings on November 4. Here’s a look at how Yes Bank has waded through its worst crisis under the stewardship of its new CEO Ravneeet Gill in the last eight months. 
	
	
	
	
	
	
	<div type="Slideshow" msid="71884102" hostid="261" title="Yes Bank under CEO Ravneet Gill⁠— eight months of wild mood swings" firstImageMsid="71884171" slideCount="12"></div>

Yes Bank under CEO Ravneet Gill⁠— eight months of wild mood swings

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Melina Mara/The Washington Post via Getty ImagesThe government accidentally paid 32 federal employees during the shutdown, and hurried to get the money back.</div></div></div><ul class="summary-list"><li>The government accidentally paid 32 federal employees from the Chemical Safety and Hazard Investigation Board and Interior Department during the shutdown, The Washington Post reported.</li><li>The Interior Department, whose employee made the error, immediately tried to claw back the funds.</li><li>The employees' bosses also told the workers not to access the funds as the government tried to take back the payments.</li><li>Some 800,000 federal employees are living without pay because of the shutdown.</li></ul>The federal government accidentally paid 30 employees amid the government shutdown, then told them not to access the funds so it could get the money back, The Washington Post <a href="https://www.washingtonpost.com/energy-environment/2019/01/11/few-dozen-government-workers-got-paid-by-mistake-friday-not-long/?utm_term=.f7b546c87b8f">reported</a>.The Interior Business Center, an Interior Department division that processes federal workers' paychecks, made a clerical error and paid 30 furloughed employees at the Chemical Safety and Hazard Investigation Board (CSB) and two others at the Interior Department on Friday morning, The Post said.The CSB investigates chemical accidents and is based in Washington, DC. Almost everyone who works there has been furloughed during the government shutdown, which entered its 22nd day on Saturday and is now the <a href="https://www.businessinsider.com/government-shutdown-record-day-trump-democrats-fight-over-border-wall-2019-1">longest-ever on record</a>.Read more: <a href="https://www.businessinsider.com/government-shutdown-record-day-trump-democrats-fight-over-border-wall-2019-1">The government shutdown enters a record 22nd day as Trump, Democrats continue to battle over the border wall and 800,000 workers go without pay</a><div class="KonaFilter image-container display-table"><div><div class="image on-image">Carlos Barria/ReutersBosses at the Chemical Safety and Hazard Investigation Board, where 30 employees were accidentally paid, told workers not to use the money.</div></div></div>Hours after the remittances were accidentally sent out, CSB bosses sent an urgent email telling employees they were trying to reverse the payment and warning them not to use the money, The Post reported."PLEASE DO NOT ACCESS THE FUNDS," it read, as cited by The Post. "We are working with IBC to determine how to remedy this situation and it is best if you don't access the funds."<div class="KonaFilter image-container display-table"><div><div class="image on-image">Carlos Barria/ReutersSome 800,000 federal employees do not have a paycheck right now. Here, a demonstration against the shutdown in Washington, DC, on January 10, 2019.</div></div></div>An unnamed Interior Department official also told The Post: "We've called the banks to trace that money and work to pull it back."The official also said the employees were accidentally paid because an Interior Business Center employee put in the wrong payroll code for the CSB and Interior Department employees.INSIDER has contacted the Interior Department for comment.Some 800,000 employees have gone without pay as President Donald Trump and Congressional Democrats continue to spar over the funding of Trump's desired border wall between the US and Mexico.Many employees say they are <a href="https://www.businessinsider.com/federal-govt-shutdown-federal-workers-seek-second-jobs-like-uber-2019-1">scrimping, taking out loans, and seeking second jobs</a> to cope with the unsteady situation. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/msnbc-host-chris-hayes-president-trump-china-trade-war-2018-12">MSNBC host Chris Hayes thinks President Trump's stance on China is 'not at all crazy'</a></h3> <div> </div> </div>

The government reportedly paid 32 federal employees during the shutdown by accident, then told them not to spend it

<ul><li>At 7:40 am, the SGX Nifty was up 0.12%, indicating a positive start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to start on a stronger note on Wednesday, led by positive cues from the global markets. At 7:40 am, the SGX Nifty was up 0.12%, indicating a positive start for Nifty50. The <a href="https://www.businessinsider.in/stock-market/news/dow-jumps-338-points-as-mitch-mcconnell-pledges-to-get-stimulus-deal-done/articleshow/79749308.cms">US stocks extended earlier gains</a> on Tuesday after Senate Majority Leader Mitch McConnell pledged to get a fiscal stimulus deal done before Congress takes a break for the holidays. The Dow Jones Industrial Average closed 337 points higher, and the S&amp;P 500 was up 1.29%. These are the stocks to watch out for during the trading session today: IDBI Bank IDBI Bank has set the floor price at ₹40.63 per share for its proposed qualified institutional placement (QIP) and downsized the fundraise by two-thirds to ₹2,000 crore. The bank’s board at its meeting on October 29 had proposed to raise ₹6,000 crore by issuing shares through QIP. Punjab National Bank Punjab National Bank (PNB) has set the floor price for its proposed QIP of ₹7,000 crore at ₹37.35 per share. PNB committee would meet on Friday to consider and determine the issue price for the equity shares, including a discount, if any, to be allotted to Qualified Institutional Buyers, pursuant to the QIP (qualified institutional placement). Indian Bank The state-owned Indian Bank declared the account of IL&amp;FS Financial Services (IFIN) as fraud with outstanding dues of ₹408 crore, and reported it to the Reserve Bank of India (RBI). Axis Bank Axis Bank has clarified that it has complied with its underwriting practices and approval processes for any exposure taken in relation to SREI Equipment Finance and SREI Infra Finance. SREI Group’s outstanding dues to the bank stand at ₹800 crore. Embassy Office Parks REIT Embassy Office Parks REIT plans to raise $500 million (around ₹3,700 crore) through the sale of units to institutional investors through QIP to fund its acquisition of commercial asset Embassy TechVillage in Bengaluru. Mahindra &amp; Mahindra (M&amp;M) Mahindra &amp; Mahindra (M&amp;M) said it would increase the price of its passenger and commercial vehicles, across models from January 1. PVR PVR to consider fundraising via various methods at its board meeting on December 18. Mrs Bectors Food Specialities Mrs Bectors Food Specialities IPO sees an overall subscription of 3.72 times on the first day of bidding. JSPL Jindal Steel and Power Ltd (JSPL) has appointed Hemant Kumar as the Chief Financial Officer (CFO) and key managerial personnel from Tuesday. SEE ALSO:<a href="https://www.businessinsider.in/business/corporates/news/interview-home-recipes-that-are-set-for-a-7-million-ipo-mrs-bectors-food-is-no-cookie-cutter/articleshow/79721783.cms" data-type="tilCustomLink"> INTERVIEW: Home recipes that are set for a $73 million IPO⁠— Mrs Bector’s Food is no cookie cutter</a> <a href="https://www.businessinsider.in/thelife/personalities/news/facebook-ceo-mark-zuckerberg-and-reliance-industries-mukesh-ambani-spoke-but-had-no-chemistry/articleshow/79739547.cms" data-type="tilCustomLink">Zuckerberg spoke to Ambani but there was no chemistry — even with a multi-million dollar partnership between them</a>

Top stocks to watch — IDBI Bank, PNB, Axis Bank, M&M, Embassy REIT, PVR, and others

<ul><li>The SGX Nifty was trading 0.23% higher at 7:55 am, indicating a higher start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst positive cues from the global markets, the Indian equities are likely to open higher on Monday. The SGX Nifty was trading 0.23% higher at 7:55 am, indicating a positive opening for Nifty50. These are the stocks to watch out for during the trading session on October 26: Future Retail and RIL The Singapore arbitration court ruled in favour of American e-commerce giant Amazon with regard to the Future-RIL deal. The court has directed Kishore Biyani’s led Future Group to not proceed with Mukesh Ambani’s Reliance Retail deal until the outcome of the arbitration process. The shares of Future Retail and RIL ended 4% and 0.24% higher, respectively, on Friday. DHFL According to PTI reports, the committee of creditors (CoC) of debt-ridden DHFL is scheduled to meet today to take a call on four bids received as part of the resolution process for the beleaguered firm. The four bidders include Adani Group, Piramal Enterprises, US-based Oaktree and Hong Kong-based SC Lowy. The shares of DHFL ended 5% lower on Friday. IndusInd Bank and Kotak Mahindra Bank The Mauritius-based, IndusInd Bank promoter, IndusInd International Holdings Ltd (IIHL) refuted <a href="https://www.cnbctv18.com/finance/indusind-bank-says-report-on-merger-with-kotak-mahindra-bank-is-untrue-and-malicious-7297331.htm">media reports claiming that</a> Kotak Mahindra Bank may take over the bank. The shares of IndusInd Bank and Kotak Mahindra Bank ended 0.3% and 0.5% lower, respectively, on Friday. ICICI Bank The Indian multinational Bank, ICICI Bank has shut its operations in Sri Lanka after getting approval from the Sri Lankan monetary authority. The shares of ICICI Bank ended 0.84% higher on Friday. Vedanta Vedanta on Saturday said its board has approved the first interim dividend of ₹9.50 per share amounting to ₹35 billion. The shares of Vedanta ended flat on Friday. Tata Motors Tata Motors on Friday told investors that it has bagged an order for 6,413 vehicles from Andhra Pradesh State Civil Supplies Corporation. The company said it emerged as the top bidder under the terms and conditions set by the government. The shares of Tata Motors ended 3% higher on Friday. Tech Mahindra Tech Mahindra<a href="https://www.businessinsider.in/business/corporates/news/tech-mahindra-q2-maring-expansion-and-acquisitions/articleshow/78827612.cms"> reported a 5% year-on-year drop in its profit to ₹1,065 cror</a>e for the quarter ended September 30. Although the profit was up 9.5% compared to the sequential quarter. The company generated revenue of ₹9,372 crore, up 3.3% year-on-year. The shares of Tech Mahindra ended 1% higher on Friday. Yes Bank The private sector lender, Yes Bank is back in the black after reporting a net profit of ₹129 crore for the second quarter ended September 30. The bank had posted a net loss of ₹600 crore in the corresponding quarter last year. However, the bad loans in Yes Bank’s portfolio remained elevated. The shares of Yes Bank ended 5% higher on Friday. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/the-first-satellite-with-ai-onboard-is-now-in-orbit-and-its-tech-could-completely-change-how-we-respond-to-wildfires/articleshow/78858333.cms" data-type="tilCustomLink">The first satellite with AI onboard is now in orbit, and its tech could completely change how we respond to wildfires</a> <a href="https://www.businessinsider.in/stock-market/news/the-stock-market-has-historically-performed-better-when-the-incumbent-president-wins-reelection-according-to-one-analysis/articleshow/78858968.cms" data-type="tilCustomLink">The stock market has historically performed better when the incumbent president wins reelection, according to one analysis</a>

Top stocks to watch — Future Retail, RIL, IndusInd Bank, Kotak Mahindra Bank, ICICI Bank, Tata Motors, Tech Mahindra, Yes Bank and others

<ul><li>State Bank of India (SBI), Axis Bank, HDFC Bank and other banking stocks are treading on the side of caution ahead of the <keyword id="6354977" type="ORGANIZATION" weightage="20" keywordseo="Supreme-Court">Supreme Court</keyword>’s hearing on moratoriums loans today. </li><li>ICICI Bank is the worst hit with its share price dipping by more than 2%.</li><li>The Supreme Court is yet to pass a verdict on whether the moratorium should be extended and if interest on interest should be charged. </li></ul>The Supreme Court is set to resume its hearing on waiving interest on loans that availed moratorium during the coronavirus pandemic today. The last time around, the bench headed by Justice Ashok Bhushan indicated that it was <a href="https://www.businessinsider.in/finance/banks/news/supreme-court-inclined-to-excuse-moratorium-interest-on-interest-as-it-gives-the-government-another-two-weeks-to-file-detailed-affidavit/articleshow/78033878.cms">‘inclined’ to excuse the ‘interest on interest.’</a> However, since then, the hearing has been postponed twice to give the government, <keyword id="6354335" type="ORGANIZATION" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> (RBI) and other stakeholders more time to file their response. Banking stocks are cautious in trade ahead of the hearing, most of them in the red. <keyword id="4774972" type="PERSON" weightage="20" keywordseo="icici-bank-share-price">ICICI Bank share price</keyword> is down by as much as 2%, while others remain largely unchanged. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change in share price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.33% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">State Bank of India (SBI) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.06% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.03% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.42% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4.0% </td></tr></tbody></table>Source: Share price as of 10:10am on BSE According to Solicitor General Tushar Mehta, a committee had been formed at the ‘highest levels’ to decide on moratorium extension, interest during the moratorium, interest on interest, and other issues related to the moratorium period. The RBI’s stance on loan moratorium In its affidavit, the RBI told the Supreme Court that extending the moratorium beyond six months will impact overall credit discipline and have a ‘debilitating impact’ on the credit creation process. On the issue of compound interest, the RBI asserted that waiver of the same would result in ‘significant economic costs’ for banks to absorb. The larger ripple effect may lead to implications for borrowers and undermine broader financial stability. Central government’s take on loan moratorium The central government asserted that it would waive compound interest (interest on interest) during the moratorium period for MSMEs and personal loans up to ₹2 crore in its affidavit filed ahead of the last hearing. However, Senior Advocate C. Aryama Sundaram argued that the real estate sector is completely left out of the scope. The bench was also not pleased, highlighting that the central government’s affidavit did not provide the necessary details regarding the questions asked by the court earlier. SEE ALSO: <a href="https://www.businessinsider.in/defense/news/india-china-disengagement-looks-unlikely-with-more-chinese-troops-reportedly-being-deployed-at-the-border/articleshow/78632960.cms">Chinese PLA is reportedly rotating troops despite India's insistence on disengagement from friction points along the border</a> <a href="https://www.businessinsider.in/business/corporates/news/wipros-second-quarter-will-be-telling-of-how-its-new-ceo-is-steering-the-ship/articleshow/78623027.cms">Wipro's second-quarter will be telling of how its new CEO is steering the ship</a> <a href="https://www.businessinsider.in/policy/economy/news/sitharaman-offers-states-12000-crore-interest-free-for-the-next-50-years-if-they-can-spend-it-on-capital-projects-by-march-2021/articleshow/78616741.cms">Sitharaman offers states ₹12,000 crore interest-free for the next 50 years if they can spend it on capital projects by March 2021</a> <a href="https://www.businessinsider.in/science/space/news/mars-will-appear-bigger-redder-and-brighter-on-october-13-and-wont-get-this-close-to-earth-again-until-2035/articleshow/78556539.cms">Mars will appear bigger, redder, and brighter on October 13 — and won’t get this close to Earth again until 2035</a>

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