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

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