Mumbai: The third Covid-19 wave poses a risk to the asset quality of banks, as many restructured loans would be out of their moratorium period from the fourth quarter of the ongoing fiscal year, according to rating firm . The increased spread of the Omicron variant is likely to result in a surge in infections. … Read more
MUMBAI: Piramal Capital and Housing Finance (PCHL), which is set to own in a competitive bankruptcy takeover, is strengthening its asset liability management in the run-up to running a retail-focused home financier. It has reduced the share of short-term borrowings via commercial papers/other bank credit. Short term borrowings now form just about 15-20 percent of … Read more
Mumbai: The Securities and Exchange Board of India (Sebi) has barred promoters of Dewan Housing Finance Ltd (DHFL) from accessing the securities market for allegedly indulging in fraudulent transactions and defrauding investors by publishing false financial statements. The regulator has restrained Kapil Wadhawan, his relatives Dheeraj Wadhawan, Rakesh Kumar Wadhawan, Sarang Wadhawan, Aruna Wadhawan, Malti … Read more
Mumbai: Central Bureau of Investigation will soon seek Yes Bank board’s sanction to prosecute its cofounder Rana Kapoor under the provisions of the stringent Prevention of Corruption Act, 1988, people privy to the development told ET. The move comes after a special CBI court here rejected the agency’s charge sheet against the undertrial banker under … Read more
Reserve Bank Governor Shaktikanta Das on Saturday advocated the creation of a ‘resolution corporation’ with legislative backing for resolution and revival of stressed financial firms. The government in August 2017 had introduced the Financial Resolution and Deposit Insurance (FRDI) Bill in Parliament which, among other things, proposed setting up of a resolution corporation. However, after … Read more