Topic: Shadow banks
Borrowing costs are finally beginning to fall for India’s top NBFCs
Premiums investors seek to buy AAA ranked 5-year bonds of NBFC lenders over government securities declined in May after gaining for 3 consecutive months.
After Franklin’s funds freeze, a contagion risk is building in India’s credit market
Authorities will be forced to take steps to keep credit markets functioning & the mutual fund industry will be a key focus, market experts say.
Modi govt approves rescue plan for Yes Bank, SBI-led consortium to inject capital
The rescue plan will throw a lifeline to Yes Bank which has been struggling to raise capital since the middle of last year, as it has faced a surge in bad loans.
NBFC crisis is beginning to ease but long way from resolution
Revitalisation of NBFCs is key to helping staunch a further slowdown in the nation’s economy.
Kotak halts bid for Altico as India struggles with shadow banking crisis
Altico Capital India Ltd. is one of the latest caught up in India's shadow banking crisis that started in 2018.
Apollo, Varde pull out of bidding race for shadow lender Altico Capital
Both the firms pull out because they were unwilling to meet creditor demands to inject as much as Rs 2,000 crore of fresh equity into Altico.
Banks to get Rs 54,000 crore bonanza this month from bankruptcy recoveries
Banks are expected to benefit from bankruptcy recovery process from Essar Steel, Prayagraj Power Generation, Ruchi Soya and RattanIndia Power.
Yes Bank’s loss exceeds estimates as it battles bad loans, suffers corporate tax-hit
Yes Bank reported a loss of Rs 600 crore for the three months compared to analysts' expectation of Rs 400 crore.
India’s economic slump is structural, not just cyclical
The Indian economy is facing a perfect storm, beset by a combination of cyclical and structural factors that makes recovery doubly difficult.
S&P warns of increased contagion risk in India’s financial sector
S&P said if an Indian bank got into trouble, the contagion could spread to other banks “perceived to be struggling” with the same problems as failing banks.
FCI has highest rice, wheat stock since 2005. Modi govt continuing legacy of bad economics
It is clear from the rising stock of rice and wheat that the government has been buying more from farmers than what it requires during a pandemic.
Modi govt drops plan to merge 3 state-owned general insurance companies
Decision to merge the 3 companies — National Insurance Co Ltd, United India Insurance Co Ltd, and Oriental Insurance Co Ltd — ahead of their proposed listing was announced in 2018 budget.
Defence
There’s ‘thinning down’ of Chinese troops at Finger 4 at Pangong lake, but no pullback yet
India-China disengagement at Pangong lake will be a focus area in the next round of military talks at the corps commander level.
Read my lips, forget the camera
Say Central forces' angry soldiers. They need reform, committed leaders. And very sensitive handling.