Record low credit growth: 1,000 cos borrowed Rs 1 lakh cr less in FY17

Financial News The record low bank credit growth of 5.1 per cent in FY17 was led by the top 1,000 listed corporates which saw their net loan outstanding decline by a whopping Rs 1 trillion in the reporting year, said a report. One-third of this massive contraction was led by just 10 companies, which cumulatively… Continue reading Record low credit growth: 1,000 cos borrowed Rs 1 lakh cr less in FY17

Huge haircut needed on largest NPAs, says CRISIL

Financial News Rating agency CRISIL said the banks in question would need to find an extra Rs 40,000 crore as bad loan provisioning for the 12 big-size cases being referred, on Reserve Bank of India (RBI) order, to the National Company Law Tribunal (NCLT) for resolution. These 12 large accounts had become non-performing assets (NPAs)… Continue reading Huge haircut needed on largest NPAs, says CRISIL

Dravidian assault: Bahubali may save Bollywood from its mindless exertions (Comment: Special to IANS)

Latest News : There is a scene in Richard Attenboroughs film “Gandhi” where Shriram Lagoo playing Gopal Krishna Gokhale prevails upon the South Africa-returned barrister Mohan Das Karamchand Gandhi (played by Ben Kingsley) to travel all over India. As an astute observer, Gokhale’s character knows that Gandhi has both the product as well as the… Continue reading Dravidian assault: Bahubali may save Bollywood from its mindless exertions (Comment: Special to IANS)

Apple iPhone 8 will have a brand new design, several leaks confirm

Financial News As the launch date of iPhone is nearing, a new leak has reportedly “confirmed” the iPhone 8‘s brand new design. Following several leaks about Apple’s controversial yet virtually bezel-less redesign, OnLeaks has obtained detailed iPhone 8 dummy models which confirm that the devices to be launched in September would have an elongated 18.5:9… Continue reading Apple iPhone 8 will have a brand new design, several leaks confirm

RBI lifts restriction on foreign investment in IDFC

The Reserve Bank of India (RBI) has removed the restriction on foreign investment in IDFC Ltd after the shareholding of overseas investors fell below the prescribed level. “The foreign shareholding by foreign institutional investors/foreign portfolio investors in IDFC have gone below the prescribed FII/FPI investment limit. Hence, the restrictions placed on the purchase of shares… Continue reading RBI lifts restriction on foreign investment in IDFC

IDBI Bank to raise up to Rs 5,000 crore

Mumbai-based public sector lender IDBI Bank is seeking shareholders’ nod to raise equity capital of up to Rs 5,000 crore through various routes, including qualified institutional placement (QIP), to meet capital adequacy norms. In addition, the ailing bank will tap market to raise up to Rs 5,000 crore through infrastructure bonds and basel-III-compliant additional tier-I… Continue reading IDBI Bank to raise up to Rs 5,000 crore

Bandhan Bank to open 160 branches more

Bandhan Bank is targetting to open another 160 branches to reach the 1000-mark by the end of this financial year, Managing Director and Chief Executive Officer of Bandhan bank Chandra Shekhar Ghosh said on Sunday. “We are planning to open more branches at different locations and reach the 1000-mark by the end of this financial… Continue reading Bandhan Bank to open 160 branches more