Banks are tapping the route to avoid haircuts while mutual funds have already taken 70% hit.
RBI declines the proposal by banks to grant relief from provisioning for the troubled mortgage lender.
Depositors could be tagged as defaulters if they fail to make repayments on loans.
Credit growth of Indian banks hit a near two-year low in September because of lacklustre demand.
The govt dropped a law aimed at dealing with the blow-up of financial services cos due to a misplaced campaign that depositors’ money would be used to bail out failed banks, but now is it time to bring it back to fire up the economic engine.
Lenders of the fraud hit CG Power plan an easier moratorium on repayment of loans and are also considering whether the company needs emergency funding, the banks have appointed SBI Capital Markets to prepare a resolution plan for the same.
India’s growth slumped to a six-year low of 5 per cent in the June quarter.
Customer security programme of SWIFT needs to be implemented by the banking system as small retail accounts are getting hacked, says global body’s India chair Arundhati Bhattacharya.
Today we need more money in the hands of corporates if investment must pick up, says Rajnish Kumar
At current price, Axis Bank’s M-Cap is Rs 1.67 lakh crore.
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