Banking

The World Bank has put on hold the publication of it doing Business report as it conducts a “systematic review” and probes the data collection irregularities in the annual study that ranks countries' business and investment climates. “A number of irregularities have been reported regarding changes to the data in the Doing Business 2018 and Doing Business 2020 reports,...

Equity benchmarks defied gravity for the sixth straight session on Friday following smart gains in bank and finance stocks, while global markets were mixed despite the US Fed outlining a more accommodative stance. A sharp jump in the rupee and unabated foreign fund inflows further bolstered sentiment, traders said. After touching an intra-day peak of 39,579.58, the BSE Sensex...

HDFC Bank on Monday announced that it has selected software major Adobe's 'Marketing Cloud' platform to deliver personalised digital experiences to its 37 million customers.HDFC Bank has developed a comprehensive e-mail marketing solution based on the Adobe platform that will span multiple outbound channels including email, SMS, social and mobile apps. "We are excited about partnering with yet another...

Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday said that after containment of spread of the novel Coronavirus, the financial sector will have to return to its normal operations on their own and without regulatory relaxations.Addressing an online event, Das described the RBI's response to the situation arising out of the pandemic as "unprecedented" and said that...

India’s banking system needs more reforms. said Shaktikanta Das, RBI governer.The Indian economy remains much stronger amid the coronavirus pandemic than it was during the global financial crisis over a decade ago even if growth has slowed, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Thursday. Speaking at an event organised by the Business...

Former RBI Governor D Subbarao made a strong case for setting up a bad bank saying it is not just necessary but unavoidable in the present circumstances when NPAs are likely to balloon and much of the resolution will have to take place outside the IBC framework. Even the Economic Survey 2017 had proposed this idea, suggesting the creation...

Cyril Amarchand Mangaldas acted as the India legal counsel to Adani Ports and Special Economic Zone Limited (APSEZL) on raising funds through issuance of bonds. The Company is the largest commercial ports operator in India and has a Pan-India presence. The Capital Markets team of Cyril Amarchand Mangaldas advised APSEZL on the Transaction. The CAM team played a pivotal...

The Reserve Bank of India (RBI) is pushing banks and non-bank finance companies (NBFCs) to raise capital to brace for a possible pile-up in bad debt in the coming months. Private sector lenders such as ICICI Bank, HDFC Bank and Axis Bank have responded by raising over Rs 50,000 crore among them, but their public sector rivals are seen...

Shares of Union Bank of India on Monday rose nearly 6 per cent after the company reported a standalone net profit of Rs 333 crore in the quarter ended June. The stock gained 5.74 per cent to Rs 32.20 on the BSE. On the NSE, it jumped 5.74 per cent to Rs 32.20. The state-run bank, which amalgamated Andhra...

New measures to allow Indian lenders to restructure loans will provide a "durable" resolution for cash-strapped businesses and help revive the economy, according to the central bank's chief. "On one hand health of banks is very important and on the other hand businesses are under a lot of stress due to covid," Reserve Bank of India Governor Shaktikanta Das...