NON BANKING FINANCIAL COMPANIES
IOB raises lending target for home, MSME loans; hopes to be profitable soon: CEO
The Public sector bank, which is under the RBI's prompt corrective action (PCA) currently and has been incurring losses for the past 18 quarters, posted large losses because of huge non-performing assets (NPAs) for the past 7-8 years, caused mainly on account of large exposure in the corporate sector, its CEO Karnam Sekar said.
HDFC Bank, Mastercard, SAP Concor join hands to manage spending in corporate sector
HDFC Bank will offer a corporate credit card for business...
Private equity, VC investments hit record high of $48 billion in 2019: Report
The report titled 'PE/VC Agenda: India Trend Book 2020' said th...
Avoid bankruptcy trial for companies with minor defaults: FinMin
The finance ministry has issued an advisory to the Indian Banks’ Association (IBA) asking it to avoid referring companies with loans defaults of less than Rs. 200 crores to the bankruptcy tribunal, two bankers familiar with the matter said.
Vodafone Idea bank guarantees unlikely to be invoked for now
A Vodafone Idea collapse could have negative impacts on not just the telecom, but on banking as well.
Share market update: Nifty Financial Services index down; Edelweiss tanks 9%
The Nifty Financial Services index was trading 0.23 per cent down at 14443.95.
Promoters trim pledged shares as market rallies after tax cut
Pledged holdings of companies in BSE 500 index declined to 2.28 per cent in December quarter.
Vodafone Idea cracks 15% after rating downgrades
The downgrade is on account of significant erosion in the overall risk profile of the company,
Women in entrepreneurship have potential to create 170 million jobs
The report, titled ‘Women Entrepreneurship in India – Powering the economy with her’, underlines the need to step up efforts to grow female entrepreneurs in India to solve the country’s employment challenges.
Andhra discom seeks more time to clear Rs. 599 cr dues
Andhra Pradesh’s main power distribution company has sought more time to clear outstanding dues of Rs. 599 crore it owes to renewable energy developers.
Dharmendra Pradhan says does not believe SC's AGR ruling applies to non-telecom PSUs
"The Department of Telecommunications (DoT) has served notice to government oil companies due to some communication gap. We have placed our side after doing all legal consultations," Pradhan told reporters. He went on to state that neither of the public sector undertakings (PSUs) slapped with huge demand has any core work in the telecom business.
Deloitte to stop offering non-audit services to their audit clients
Earlier this week PwC too said it would stop offering consulting and advisory services to the companies and banks they audit.
Vodafone Idea bankers brace for higher provisions on loans
Bankers said that there is now a risk that the company could be declared insolvent.
Resolutions via IBC see a big fall in third quarter
Data from the Insolvency and Bankruptcy Board of India (IBBI) showed that financial creditors realised just 12% of their claims in the quarter-ended December, down from 34% in the quarter-ended September. Bankers said falling recoveries from the IBC and delays in resolution have pushed them to seek solutions out of the courts.
JM Financial to raise Rs 300 crore in debt
The company has so far this fiscal year raised over Rs 500 crore through NCD sales.
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