Edelweiss Financial Services looks to strengthen business in retail credit segment through co-lending pacts with State Bank of India, Bank of Baroda, Central Bank of India and Punjab National Bank. Edelweiss said the LP-GP (Limited Partners-General Partners) model, where NBFCs partner with capital providers like banks, global and domestic institutional ... Read More »
Default by real estate-focused non-banking financier Altico Capital indicates the rising cash crunch with the developers, which is credit negative for banks given their exposure to the realty sector, warns a report. Poor liquidity had last week forced Altico Capital to default on an under-Rs 20-crore scheduled interest payment on an ECB loan from ... Read More »
India is looking to reduce the number of state-run banks to 10 to 15, more than what was envisaged earlier, through a series of mergers and acquisitions so that none of the banks become too big to fail, said Sanjeev Sanyal, principal economic adviser at the finance ministry. “Consolidation will ... Read More »
Toshiba shares fell by 5.85% on Monday, following reports of a possible lawsuit by several Japanese banks, rumours of the impending resignation of its chairman and a withdrawal from its nuclear power plant business in the US. In the mid-session break at the Tokyo Stock Exchange, the tech giant’s ... Read More »
The CEO of the largest German lender has underlined the dramatic shifts that the banking industry faces over the next five years with technology due to play a “key” role in this period of change. “We are placing our bets on technology,” John Cryan, the chief executive officer of Deutsche ... Read More »
Quashing an order of a nationalised bank refusing to grant education loan to a student who intended to pursue his doctoral research abroad, the Madras High Court has observed that loan-seekers must be given a chance to rectify defects in their applications. “Even if the document is defective, the authority ... Read More »
NEW DELHI: Confusion over the facility for exchanging old high-denomination notes, subject to a limit of Rs 4,000, at banks and post offices by providing valid identity cards has led to some people misusing the system to legalise their unaccounted wealth. At present, the exchange facility is a one-time window ... Read More »
Banks continued to tighten lending standards to commercial real estate loans in the third quarter, according to a Federal Reserve survey released Monday. The Fed survey of senior loan officers of 69 domestic banks and 21 foreign banks found standards were tightened on all types of commercial real estate loans. ... Read More »
Banks tightened standards on commercial real estate loans during the third quarter but left lending practices for commercial and industrial loans virtually unchanged overall, according to a survey of loan officers released on Monday by the Federal Reserve. For households, some banks reported easing lending standards on mortgages eligible for ... Read More »
Enthused by speedy recovery of loans worth $2.5 billion by three lenders, including ICICI Bank, within days of a mega $13-billion Essar deal, banks are now looking at the resolution of stressed assets totalling about 1.50 lakh crore in the coming months. Having broadly completed the first two stages of ... Read More »
Energy companies and banks are leading stocks higher in afternoon trading on Wall Street. A jump in the price of crude oil sent oil and gas companies higher, while banks benefited from rising bond yields, which will help them make more money from lending by allowing them to raise interest ... Read More »
Smaller, poorer countries are being abandoned by big banks in an exodus commonly referred to as “de-risking” or “de-banking.” In the Caribbean, where many small countries with poorer populations reside close to each other, the problem is getting so bad that local businesses regularly have a hard time receiving remittances ... Read More »
