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RBI Says Infusing Funds Into India Lenders Won't Solve Debt Mess

Indian central bank Deputy Governor Viral Acharya said injecting new funds into lenders won’t resolve the nation’s stressed asset plight until companies take steps to reduce debt, Bloomberg News reported. The Reserve Bank of India is seeking to strengthe ...

Daily Headline - global.abi.org - 05/21/2017 - 21:07 - 0 comments

Bad Loans Stabilise for State Bank of India During Q1

In a related story, the Financial Times reported that State Bank of India, the country’s largest lender, has reported earnings slightly ahead of analyst expectations for the first three months of 2017, along with a stabilisation of its hefty burden o ...

Daily Headline - global.abi.org - 05/21/2017 - 21:08 - 0 comments

Small Businesses Suffer as India's Bruised Banks Sit on Deposits

A mountain of bad debt in India's banking system has led to a prolonged credit crunch that is inflicting most pain on small- and medium-sized enterprises (SMEs) such as Pandey's that depend upon banks for their day-to-day working capital and lo ...

Daily Headline - global.abi.org - 05/16/2017 - 21:58 - 0 comments

Tata Steel Agrees Settlement ‘In Principle’ for UK Pensions

Tata Steel has agreed a settlement “in principle” to the long-running pensions saga at its UK business, a deal that could remove the last hurdle to a merger of the group’s European steelmaking operations with those of German rival ThyssenKrupp, the Fin ...

Daily Headline - global.abi.org - 05/16/2017 - 21:59 - 0 comments

New Delhi Under Pressure for Bolder Action on Bad Loan Malaise

India’s finance minister Arun Jaitley was in bullish form last week, touting the government’s move to give the central bank powers to force action by lenders on distressed loans, the Financial Times reported. This would be key to fixing the huge bad ...

Daily Headline - global.abi.org - 05/15/2017 - 22:43 - 0 comments

India's Piramal Looking to Expand in Real Estate Financing

Indian conglomerate Piramal Enterprises said it is looking to expand its real estate development business and also expects to have a licence to start providing home mortgages by July. The Mumbai-based group, whose interests range from pharmaceuticals to ...

Daily Headline - global.abi.org - 05/14/2017 - 22:34 - 0 comments

Canara Bank Files Insolvency Petition Against DCHL

In a major setback for Deccan Chronicle Holdings Ltd (DCHL), public sector bank Canara Bank has filed an insolvency petition against the beleaguered city-based company before the Hyderabad bench of the National Company Law Tribunal (NCLT) by invoking the ...

Daily Headline - global.abi.org - 05/10/2017 - 20:07 - 0 comments

A Step for India's Banks, but No Giant Leap for Bad Debt

India's move to strengthen the hand of its central bank will help it push reluctant lenders towards writedowns and errant borrowers into insolvency, bankers said, but the country is far from drawing a line under its $150 billion (£116 billion) of so ...

Daily Headline - global.abi.org - 05/08/2017 - 22:32 - 0 comments

Biggest Indian Bank Says Bad Loan Mess to Resolve in 3 Years

State Bank of India, the country’s largest, sees a "positive turnaround" in the nation’s bad loan mess after the government implements a new rule aimed at resolving the problem, chairman of the lender said. "The non-performing asset cycle ...

Daily Headline - global.abi.org - 05/04/2017 - 21:49 - 0 comments

India on Track to Knock Britain Out of World's Top 5 Economies

shortfall. India's economy is still recovering from a cash ban that sucked out 86 percent of currency in ...

Daily Headline - global.abi.org - 04/27/2017 - 22:44 - 0 comments

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