Modi-Trump meet: India, US name Pakistan, demand action on 26/11, Pathankot

Financial News India and the US today vowed to strengthen cooperation against terror outfits like Jaish-e- Mohammad, Lashkar-e-Taiba and D-Company, while urging Pakistan to ensure that its soil is not used for terror strikes against other nations. In a joint statement released after talks between Prime Minister Narendra Modi and President Donald Trump, the two… Continue reading Modi-Trump meet: India, US name Pakistan, demand action on 26/11, Pathankot

HDFC seeks shareholders’ nod for Rs 85,000-cr fundraising

Financial News Mortgage lender Housing Development Finance Corporation (HDFC) will seek shareholders’ approval at the annual general meeting (AGM) next month to raise up to Rs 85,000 crore through various debt instruments. HDFC AGM is scheduled to be held on July 26, 2017. “The approval of the members is being sought by way of special… Continue reading HDFC seeks shareholders’ nod for Rs 85,000-cr fundraising

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

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

Bank mergers will happen but no point doing it only for size: Arun Tiwari

Financial News Arun Tiwari, about to complete 42 months as chairman and managing director of government-owned Union Bank of India, to Abhijit Lele on current challenges. Edited excerpts: Union Bank has been able to report net profit for all quarters during and after the Asset Quality Review in 2015-16. Beside handling of stressed accounts, did… Continue reading Bank mergers will happen but no point doing it only for size: Arun Tiwari

SBI chief Bhattacharya earned Rs 2.37 cr less than ICICI Bank chief in FY17

Financial News SBI, one of the world’s 50 largest banks, pays only a small fraction to its top management as compared to private sector players like ICICI Bank and HDFC Bank. Former RBI governor Raghuram Rajan had flagged the low remuneration issue last August saying it makes difficult for state-owned banks to “attract top talent,… Continue reading SBI chief Bhattacharya earned Rs 2.37 cr less than ICICI Bank chief in FY17