FS Daily Bytes: 20th June


A relatively quieter day… India  FM Arun Jaitley has pushed the farm loan waiver back to the states, basically states must decide on their own UCO bank may need 4300 crores INR capital over the next 2 financial years ICRA recent report shows overall housing credit growth slowing down (from…

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FS Daily Bytes: 19th June


India Banker’s met internally to finalize their plan for approaching NCLT on the 12 NPA accounts which RBI has directed them to file insolvency. The list includes, Amtek Auto, Bhushan Steel, Essar steel, Bhushan Power & Steel, Alok Industries, Monnet Ispat, Lanco Infra, Electro Steels, Era Infra, Jaypee Infratech, ABG…

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FS Daily Bytes: 17th June


India RBI puts Bank of Maharashtra under PCA. FY17 saw its breaching Level 2 Insurance information bureau plans central database for insurance agents. This would help insurance companies to have a quick background check before hiring. This is akin to the CIBIL for retail consumers! Equitas is feeling the heat…

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FS Daily Bytes: 16th June


India  A report by India Ratings, has warned of significant impact on micro lenders & small finance banks if the impact of demonetization stretches for long. This may raise the credit cost and erode capital as collections efficiency is only 75-80% in May 2017 on portfolio outstanding as of Dec-16…

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FS Daily Bytes: 15th June


India Close on the heels of SBI QIP, Axis Bank board approves 5000 crore INR capital raise through private placement of bonds. Such capital raise has become necessary due to Basel III norms which are set to be fully implementable by Mar-2019 As per NPCI; Rupay credit card expected to…

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FS Daily Bytes: 14th June


India Armed with Sec 35AA/AB (new NPA ordinance), RBI has picked up 12 defaulters for insolvency proceedings, SBI & few others are also approaching NCLT for a few other ones. This is expected to suddenly pile up a lot of cases for NCLT to handle effectively. The number of benches,…

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FS Daily Bytes: 13th June


India RBI issues new 500 Rs banknote with inset letter ‘A’ RBI deliberating on easing the NPA classification period of 90 days to provide some relief for small-medium businesses. Further details awaited SBI invokes the insolvency code, moves NCLT (National Company Law Tribunal) against a set of big ticket loan…

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