Abhijeet Group, which is under CBI lens for its alleged involvement in allotment of coal blocks, is likely to approach banks for restructuring its loans.
Economic slowdown and the stubbornly high interest rates are beginning to hurt the small and medium enterprises with more companies queuing up to restructure loans this year than last.
Most of these cases are from companies with debt of less than Rs 500 crore. In 2011, 87 companies with debt of Rs67,739 crore applied for debt rejig.
HDFC Bank has hired three senior executives for its investment banking division as it anticipates a surge in deal making with the revival of investor sentiment.
Ajay Gupta from GE Capital will head the banks infrastructure finance business and Akshay Dixit from Mape Advisory will oversee the corporate finance business.
HSBC has issued its first renminbi (RMB) denominated Documentary Credit (DC) in India for a Mumbai-based pharmaceuticals company.
The downgrade comes at a time when Vijay Mallya owned United Spirits is in talks to sell the stake to British drinks giant Diageo.
Yes Bank has received Reserve Bank of India approval to set up a broking subsidiary, Yes Securities Private Ltd. This subsidiary will have a capital of about Rs20 to 25 crore.
Bankers' chances of recovering over Rs 4,000 cr of loans from Deccan Chronicle have become difficult further as they put off plans on debt restructuring.
SEB will benefit banks like Punjab National Bank, Union Bank of India and Oriental Bank of Commerce, said Motilal Oswal in a report.
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