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

Tap equity market: Govt tells 5 PSU banks

Financial News The central government has asked five state-owned banks to raise capital from the markets to meet their requirements for the fiscal year 2017-18. The Department of Financial Services has asked the relatively strong public sector banks (PSBs) — Canara Bank, Bank of Baroda (BoB), Indian Bank, Vijaya Bank, and Syndicate Bank — with… Continue reading Tap equity market: Govt tells 5 PSU banks

Poultry producers cash in on beef slaughter ban as demand for chicken rises

India’s poultry producers are posting record profits as feed costs have dropped to a five-year low and on rising chicken demand after cattle slaughtering restrictions were enacted in the majority Hindu country. Poultry company profits should continue to rise as raw material costs are set to remain depressed and demand rises due to the political… Continue reading Poultry producers cash in on beef slaughter ban as demand for chicken rises

RBI policy a positive surprise for housing finance cos; expect rate cuts

Financial News : While the Reserve Bank of India (RBI) kept policy rates unchanged in the second bi-monthly policy of this financial year, a key positive was reduction in risk weights assigned to home loans lent on or after June 7. Risk weights help banks and non-banking financial companies (NBFCs) to assess the risk associated… Continue reading RBI policy a positive surprise for housing finance cos; expect rate cuts

Farm loan waivers may harm fiscal discipline; stoke inflation: RBI

Financial News : The Reserve Bank of India (RBI) on Wednesday warned that large-scale farm loan waivers by state governments will severely harm the country’s fiscal health and may spur inflation. RBI Governor Urjit Patel said unless state governments’ budgets allow that fiscal space to go in for a loan waiver, it would be risky… Continue reading Farm loan waivers may harm fiscal discipline; stoke inflation: RBI

RBI policy a positive surprise for housing finance cos; expect rate cuts

Financial News : While the Reserve Bank of India (RBI) kept policy rates unchanged in the second bi-monthly policy of this financial year, a key positive was reduction in risk weights assigned to home loans lent on or after June 7. Risk weights help banks and non-banking financial companies (NBFCs) to assess the risk associated… Continue reading RBI policy a positive surprise for housing finance cos; expect rate cuts