MUMBAI/HONG KONG – The unexpected writedown of some bonds issued by crisis-hit Indian lender Yes Bank Ltd as part of a state-led rescue is set to raise borrowing costs and make capital-raising tougher for other banks, investors and analysts said. The take over of Yes Bank by India’s […]
MUMBAI – An Indian court on Sunday remanded the founder and former managing director of crisis-hit Yes Bank Ltd (YESB.NS) in police custody until March 11 after he was arrested on money-laundering charges. India’s Enforcement Directorate, the country’s federal financial crime agency, arrested Rana Kapoor early on Sunday […]
The founder of India’s Yes Bank was arrested on allegations of money laundering Sunday, amid efforts to formulate a rescue plan for the country’s fourth-largest private lender. In a late-night move Friday, the Central Bank seized control and imposed withdrawal limits on Yes Bank, which has been struggling […]
MUMBAI – State Bank of India said it will need to invest 24.5 billion rupees ($331 million) if it were to buy a 49% stake in Yes Bank as part of a rescue deal of the troubled lender. SBI Chairman Rajnish Kumar told reporters on Saturday the bank’s […]
NEW DELHI/MUMBAI – India laid out a rescue plan for Yes Bank (YESB.NS) on Friday under which the State Bank of India (SBI) (SBI.NS) will take a 49% stake in the troubled lender, which is struggling with bad loans. Indian Finance Minister Nirmala Sitharaman said the restructuring plan […]
BENGALURU/MUMBAI/NEW DELHI – Shares in India’s Yes Bank (YESB.NS) plunged on Friday as panicky depositors rushed to withdraw funds and payment partners faced outages after the banking regulator took control of the lender in a late-night move and limited withdrawals. The shock move by the Reserve Bank of […]
MUMBAI – HDFC Bank Ltd, India’s largest private lender, on Saturday posted a nearly 33% jump in standalone net profit for the quarter to December helped by growth in its loans portfolio. HDFC Bank reported a net profit of 74.16 billion Indian rupees ($1.04 billion) for its third […]
New Delhi, Dec 1: The Reserve Bank may cut interest rates for the sixth straight time on December 5 to support growth that has continued to slip to more than six-year low on slump in manufacturing, bankers and experts said. RBI has cut interest rates on every single occasion […]
Mumbai, Jun 7: The Reserve Bank Friday issued a new framework for resolution of bad loans, replacing the previous norms quashed by the Supreme Court in April, offering a 30-day gap for stress recognition instead of the one-day default earlier. The new norms replaces all the earlier resolution plans […]
New Delhi, Jun 5: With focus on SMEs, SBI Delhi circle is eying loan growth in excess of 15 per cent for the sector which is a very crucial segment of the economy and thrust area of the government, a senior bank official has said. The circle, the […]
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