The Reserve Bank of India has reportedly certified bidders for IDBI Bank as “fit and proper”, paving the way for the government to sell a big equity stake in the bank. RBI’s fitness and propriety norms are meant...
No final bids from ARCs for IDBI’s Stressed Assets Stabilisation Fund assets
IDBI Bank’s Stressed Assets Stabilisation Fund (SASF), which was looking to recover 11.59% from the sale of non-performing loans worth ₹6,151 crore, has hit a roadblock. Despite receiving 18 expressions of...
Byju’s creditor Surfer Technologies settles insolvency case with edtech firm
Gurugram-based Surfer Technologies told the Bengaluru bench of the National Company Law Tribunal (NCLT) on Wednesday that it has reached an amicable settlement with Byju’s and hinted that it would withdraw its...
YES Bank’s $5 billion stake said to attract lenders from the Middle East, Japan
First Abu Dhabi Bank PJSC is among potential suitors for a roughly $5 billion stake in India’s Yes Bank Ltd., according to people with knowledge of the matter. The Middle Eastern lender is weighing a bid for as much as...
YES Bank denies report on 51% stake sale, calls it ‘factually incorrect’
Private lender YES Bank refuted a news report that claimed the Reserve Bank of India (RBI) has approved for the sale of a 51 per cent stake in the bank. “The contents of the said article are factually incorrect and...
Metro Bank says it is in talks on potential mortgage portfolio sale
British lender Metro Bank said on Monday it was in talks about a potential disposal of residential mortgage loans worth billions of pounds. The size of the portfolio, which is yet to be finalised, could be closer to 4...
LIC raises stake in IDFC First Bank to 2.68% at ₹80.63/share via private placement offer
The Life Insurance Corporation of India (LIC), India’s largest insurance company, said on Thursday, July 4, that it acquired a 0.2 per cent stake in IDFC First Bank Limited for ₹80.63 per share, increasing its...
Wipro asks NCLT to junk Ivalua’s insolvency plea
Wipro Limited Tuesday sought dismissal of Ivalua’s insolvency plea before the National Company Law Tribunal (NCLT). Wipro’s counsel contended that the company was not under any obligation to clear the...
Kapil Wadhawan moves NCLAT against Union Bank’s insolvency plea over ₹3,958-crore default
Kapil Wadhawan, the former promoter of Dewan Housing Finance Corporation Ltd (DHFL), has moved the National Company Law Appellate Tribunal (NCLAT) to challenge the initiation of personal insolvency proceedings against...
UBS completes merger of Swiss business with Credit Suisse
Swiss bank UBS has completed the merger of its domestic unit with Credit Suisse’s operations in its home market, the bank said on Monday, adding that the head of the Credit Suisse business was leaving the bank...
Bank Unions write to Finance Minister for merger of RRBs with Sponsor Banks
Two bank unions — AIBOC and AIBEA — have demanded the merger of Regional Rural Banks (RRBs) with their respective Sponsor Banks to ensure overall efficiency and viability of the banking sector. It is...
Australia approves ANZ’s $3.3 bln buyout of Suncorp Bank
Australia on Friday gave the go-ahead for ANZ Group’s A$4.9 billion ($3.26 billion) buyout of Suncorp’s banking business, clearing the deal to proceed after almost two years of scrutiny by financial...
