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15 January, 2019 4:10 PM Fortis avails Rs 1,100 cr loan from Citibank

Fortis Healthcare on Tuesday said it has inked a pact with Citibank to avail a loan of Rs 1,100 crore in order to take care of its contractual commitments and strategic objectives. The loan agreement was executed on January 10, with certain CPs (commercial papers) for disbursal being fulfilled on January 14, Fortis Healthcare said in a regulatory filing 154

15 January, 2019 9:44 AM Bank Of China Offers Sri Lanka $300 Million Loan: Source

The Sri Lanka overnment is considering the offer because of "difficulty in borrowing money after recent ratings downgrades", the source said, declining to be named as the information was not public. Bank of China, the country's fourth-biggest lender by assets, has offered a loan of $300 million to Sri Lanka which can be raised to $1 billion, a source 207

12 January, 2019 4:41 PM Syndicate Bank hopes to recover Rs 1,500 crore from NPAs

Currently, Syndicate Bank has a total business of roughly around Rs 4.80 lakh crore, Syndicate Bank hopes to recover about Rs 1,500 crore from non-performing assets (NPAs) over the next three to six months, chief executive officer and managing director of the bank Mrutyunjay Mahapatra said. The bank is adopting a combination of methods to recover bad loans 184

12 January, 2019 1:17 PM IDFC Bank re-named IDFC First Bank

IDFC Bank and non-banking financial company Capital First had announced completion of their merger on December 18. Private sector lender IDFC Bank said its name has been changed to IDFC First Bank Ltd with effect from Saturday. "...the name of the Bank has been changed from IDFC Bank Ltd to 'IDFC First Bank Limited' with effect from January 12, 2019 by virtue 147

8 January, 2019 5:27 PM Rs 10,253-cr agri loan by Syndicate Bank turned NPAs in last 5 fiscals: RTI reply

The NPA of the public sector bank increased in the last three fiscals, with the bad loans soaring to Rs 3,851 crore in 2017-2018. Agriculture loans worth Rs 10,253 crore disbursed by Syndicate Bank have turned into non-performing assets (NPAs) in the last five fiscal years until March 2018, revealed an RTI query. The NPA of the public sector bank increased 136

7 January, 2019 7:58 AM Elara expects banks' profitability to improve in Q3FY19

Elara Capital does not expect any new large corporate loan account to slip barring re-classification of IL&FS Brokerage houses have been betting on select banks, especially after the beginning of improvement in their asset quality and hope of further earnings growth. Elara is one of the brokerage houses that also turned positive on banks and expects 146

5 January, 2019 9:39 AM Special PMLA court declares Vijay Mallya a 'fugitive economic offender'

Special Prevention of Money Laundering Act (PMLA) court has declared Vijay Mallya a fugitive economic offender. His properties can now be confiscated by the government. He is the first person to be declared a fugitive economic offender under the new law. The court has also refused Mallya's application to stay the order to give him some time to appeal 262

3 January, 2019 11:41 AM PM Modi Slams Congress Over 1984 Riots, Loan Waivers At Gurdaspur Rally

Prime Minister Narendra Modi on Thursday launched a scathing attack on the Congress over the 1984 anti-Sikh riots and farm loan waivers. PM Modi said the Congress in Punjab, too, had made big promises to farmers, but deceived them after coming to power. "The Congress had made tall promises to farmers on loan waiver, but later deceived them," he said at a rally 178

2 January, 2019 12:04 PM Extend loan restructuring scheme to MSMEs not yet registered under GST

The RBI on January 1 allowed a one-time restructuring of the existing debt of up to Rs 25 crore for the companies that have defaulted on payments but their loans have continued to be classified as standard assets. The MSME sector on January 2 demanded the RBI's loan restructuring scheme be also extended to the companies not yet registered under the goods 139

1 January, 2019 6:56 AM D-Street Buzz: FMCG index trades lower led by HUL, Britannia, Colgate; Kolte-Patil Developers up 13%

Benchmark indices continues to trade lower on Tuesday afternoon with Nifty is below 10,850 level. The Sensex is down 83.90 points or 0.23% at 35984.43, while Nifty down 24.50 points or 0.23% at 10838. HDFC Bank, Reliance Industries, HDFC, Infosys and ITC ae the negative contributors to the Sensex. Nifty PSU bank index was up 0.50 percent led by Bank of Baroda 137