In hindsight, it might be termed irrational exuberance.
Lenders have agreed to sell the company’s debt to a consortium comprising Hong Kong’s alternative investment fund SSG Capital and the distressed debt unit of Deutsche Bank. A 55% haircut works out to an upfront cash payment of Rs 2,925 crore, which the lenders will receive in lieu of debt. They have also been offered a 15% equity in the firm.
LED TV supplier CloudWalker Streaming Technologies had alleged that Flipkart did not pay dues amounting to Rs 26.95 crore despite repeated requests.
A NIM of 3% is good enough because higher the NIM, there could be a compromise on quality.
SFIO ordered probe after a KPMG forensic audit highlighted likely cases of fund diversion at DHFL.
Indiabulls AMC has also reduced some senior management salaries by half.
Higher NIMs and stable asset quality are key drivers, says bank; shares rise nearly 8%
Security researchers at Singapore-based Group-IB had found that card details were being sold at a price of $100 per card, ZDNet had reported. The value of the leaked database has been estimated by the group at $130 million. There were about 51.7 million credit cards and 851.5 million debit cards in circulation as of August, RBI data shows.
Credit balances for consumer loan products grew 17.1% y-o-y in the quarter ended June 2019 compared to 23.5% a year earlier led by a more than 30% rise in credit cards and personal loans even as auto loans, home loans and loan against property declined.
With RCEP & trade deals, banks realise the future lies in regional areas and are preparing to grab opportunities.
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