NCLT reserves order on Go First’s plea seeking voluntary insolvency resolution proceedings and interim moratorium on financial obligations.
Though Wadia Group-owned Go First has not defaulted on any of its loans till April, the airline has said that defaults to financial creditors would be imminent due to its prevailing financial situation.
Public sector banks could recover only 14% of written off loans worth Rs 7.34 lakh crore in last five years ended March 2022.
Government appoints Rajneesh Karnatak as MD of Bank of India and Debadatta Chand as head of Bank of Baroda.
Hinduja Group emerges as lone bidder for bankrupt Reliance Capital on second round of auction with offer of Rs 9,650 crore.
Axis Bank’s loan book grows 19% YoY to Rs 8.45 lakh crore as on 31 March 2023; deposits up 15% YoY to Rs 9.46 lakh crore.
State Bank of India concludes sale of $750-million senior 5-year notes at a coupon of 4.875%.
Union Bank of India’s board has approved raising up to Rs 10,100 crore through a mix of debt and equity.
Bank of Maharashtra plans to add 200 branches in FY24 and have branch presence in 750 districts, says CEO AS Rajeev; Q4 net soars 135% to Rs 840 crore.
ICICI Bank beat market estimates as Q4 net profit rose 30% to Rs 9,121.9 crore; help came from strong growth in loans and improved net interest income.
HDFC Bank said it will acquire a “20% or more stake” in Griha Pte, a wholly-owned subsidiary of HDFC Investments, as it has received regulatory clearance from Monetary Authority of Singapore.
The board of IndusInd Bank reappoints Sumant Kathpalia as MD and CEO for a period of two years.
Yes Bank posts 45% YoY drop in net profit to Rs 202 crore in Q4 of FY23 on the back of accelerated provisions for bad loans.
SEBI has barred Rajesh Mokashi, former chief executive of Care Ratings, from the securities market for two years for violation of rules.
RBI refuses to grant HDFC Bank any exceptions on CRR, SLR and LCR requirements; allows HDFC Bank some leeway on priority sector lending and investments front.
