MUMBAI: RBI has acknowledged that government’s ownership of public sector banks makes its risk management job easier. In its latest economic capital framework report, RBI notes that such ownership has “demonstrably reduced the potential losses” it might face when offering emergency liquidity assistance (ELA), warranting lower capital buffers for these entities.In other words, govt-owned lenders…
MUMBAI: Education loan providers Credila Financial Services and Avanse are set to debut on the stock markets, with both companies preparing for IPOs. Credila plans to raise around Rs 5,000 crore, while Avanse aims for Rs 3,500 crore. Both IPOs will include a combination of fresh issues and offers for sale.Credila, formerly HDFC Credila, has…
MUMBAI: Former finance minister Arun Jaitley had encouraged Raghuram Rajan to take decisive action on cleaning up bad loans of Indian banks, the former RBI governor said in a recent interview to a news portal and asserted that the build-up of non-performing assets (NPAs) in the banking sector, worsened by corruption, delayed clearances, and the…
NEW DELHI: State-owned Indian Overseas Bank (IOB) on Wednesday reported 30 per cent rise in net profit at Rs 723 crore for December quarter 2023-24, on the back of improvement in core income and reduction in bad loans. The Chennai-based lender had earned a net profit of Rs 555 crore in the same quarter a…