V Vaidyanathan, Director & CEO, IDFC First Bank, says “we are very profitable now and have posted PAT of Rs 2,400 crore last year and you know the trajectory. Let me just say that all the items are behind us. Now even the corporate streamlining is behind. I really think that in the next three … Read more
You might have often heard that — an intelligent businessman makes profits from others’ money. That’s the reason why businesses prefer borrowing money. Companies then deploy the borrowed funds in their operations and generate profits. Meanwhile, they must repay the principal amount and interest to the lender. That’s precisely how debt works, right? But debt … Read more
New Delhi: Reliance Capital, a part of debt-ridden Anil Ambani-promoted Reliance Group on Monday said its consolidated net loss narrowed to Rs 1,488 crore in the fourth quarter ended March 2023. The company posted a net loss of Rs 4,249 crore in the January-March quarter of the last fiscal. Its total consolidated income declined to … Read more
Mumbai: Authum Investments and Infrastructure has filed a special leave petition in the Supreme Court, seeking a go-ahead for its ₹2,887-crore resolution plan to take over Anil Ambani’s (RHFL). Authum’s petition has come even as lenders are seeking a higher amount from the company, citing the higher cash accumulated in RHFL due to the 18-month … Read more
The Reserve Bank of India (RBI) believes that the Insolvency and Bankruptcy Code (IBC) is probably the best mechanism for creditors to recover their dues and said the right way to look at its effectiveness would be to compare the resolution value to the liquidation and not the total loans. RBI, in the latest report … Read more
Mumbai: Reliance Capital‘s administrator informed resolution applicants that they will need to offer at least ₹6,500 crore – pegged as the threshold bid amount – to participate in the auction for the company, said people aware of the development. The Piramal-Cosmea combine, the Group, Torrent Investment and Oaktree Capital are expected to take part in … Read more
For us, this culture about having low NPA is a fetish. Our trip in life is our gross NPA should never cross 2%, our net NPA should never cross 1%. We are working to that formula, says V Vaidyanathan, MD & CEO, You kept on working towards taking IDFC or Capital First to be an … Read more
Private life insurer Reliance Nippon Life Insurance on Monday announced a total bonus of Rs 306.88 crore for its participating policyholders in 2020-21. This bonus issuance will benefit over 6,85,000 participating policyholders, a company release said. All participating policies in force as of March 31, 2021, have been credited with the bonus declared, it added. … Read more
NEW DELHI: Fitch on Friday said it has withdrawn the ratings on Reliance Capital as the company has decided to stop participating in the agency’s rating process. “The ratings have been withdrawn as Reliance Capital has chosen to stop participating in the rating process. Therefore, Fitch will no longer have sufficient information to provide ratings … Read more