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3 mins read
An Indian bank is still making the same mistake of hiding the worst and hoping for the best
To start with, Mumbai-based IndusInd’s profits fell by 62% in the fourth quarter compared to ₹9.5 …
2 mins read
India sees the first arrest in the country’s biggest financial scandal of 2018
As the prospects for the infrastructure and power sector declined following the fin…
2 mins read
Even British Airways and Philips stand to lose money in India's biggest financial scandal of 2018
Ahead of the debt resolution process of troubled infra lender Infrastructure Leasing & Financia…
3 mins read
The RBI may have dealt a $1.5 billion blow to Indian banks’ bottom line
As a result, the creditors of IL&FS, which include many of India’s public sector banks such…
2 mins read
The Reserve Bank of India just made it a lot easier for the country’s shadow banks to sell off their loans
The restriction was put in place to ensure that the loan was being serviced regularly prior …
2 mins read
India’s largest infrastructure lender is selling its renewable energy assets to avoid defaulting on its debts
The renewable energy assets up for sale include a number of operational and soon-to-be operation…
2 mins read
Oust Vodafone's board for a new one like in IL&FS and DHFL says former finance secretary
Former finance secretary Subhash Chandra Garg on Wednesday said the government should offer a…
PTI
2 mins read
IL&FS gets govt approval for Rs 2,700 crore claims towards stuck road projects
Officials said these initiatives of engaging with various authorities such as the Ministry, NHAI a…
PTI
2 mins read
Bailout or opportunism? India’s largest bank is tripling its loan purchases from desperate NBFCs
The amount is exactly three times SBI’s original acquisition target of ₹150 billion for the …
3 mins read
Why India’s reliance on state insurance giant LIC to bailout troubled lenders is worrying
India’s regulators restrict investments by insurance organisations to a maximum of 15…
2 mins read
IL&FS has no option but to sell its profitable financial services unit as it tries to avoid bankruptcy
IL&FS is offloading a majority stake in its financial services subsidiary, IL&FS Finan…
2 mins read
After IDBI Bank, LIC now has to bail a huge infrastructure lender out
LIC is the largest shareholder in IL&FS, with a 25.34% stake. It will pump ₹40 billion int…
3 mins read
IL&FS seeks extension of bid validity for 5 road projects facing Rs 10,500-cr debt
Out of the five road projects, Cube Highways has emerged as the highest bidder with Rs 3,900 crore…
PTI
9 mins read
Top 10 crucial judgments by Supreme Court in the year of the pandemic
Justices began hearing arguments by video conferencing, a momentous step for an institution, w…
1 min read
This almost-defaulter saves itself by selling its loans to a foreign investor
DHFL has used this money to pay off its debt. According to reports, the transaction was monitore…
5 mins read
Yes Bank crisis and its domino effect on bonds, mutual funds and other corporate defaults
The challenges in the face of the Yes Bank crisis are likely to be temporary, since they are a dire…
3 mins read
Sitharaman hits back at Chidambaram for jibe over Yes Bank crisis
"And here you see them quickly jump to say 'oh no no you don't know what you are doing? You don't …
PTI
2 mins read
India Budget 2020: Bank scam victims are assured of ₹5 lakh instead of ₹1 lakh
“A robust mechanism is in place to monitor the health of all banks and the money of deposito…
2 mins read
Micro enterprises best placed to help economy come out of COVID-19 crisis: Report
In a joint report, the two entities said leverage ratios and non-performing assets (NPAs) of micro…
PTI
2 mins read
Bank mergers before privatisation is one of three biggest headlines from RBI governor Shaktikanta Das’ interviews
The RBI governor would like to merge and reduce the number of government banks before any talks …