Soros, Blue Ridge buy 21% in Rel Cap ARC George Soros-promoted fund and the US-based investment bank Blue Ridge will together pick up 21% in Reliance Capital’s asset reconstruction business. While George Soros...
Mandvi Co-op to merge with Saraswat Bank
Mandvi Co-op to merge with Saraswat Bank Mandvi Co-operative Bank Ltd, with a large Gujarati clientele, is to merge with India’s largest co-operative bank, Saraswat Co-operative Bank Ltd. "It is for the first...
IDBI wins battle for United Western Bank
IDBI wins battle for United Western Bank Taking bankers by surprise, the RBI today announced the amalgamation of the sick United Western Bank (UWB) with IDBI Ltd. The draft scheme for merger, placed in the public domain...
IDBI-UWB merger: A win-win deal
IDBI-UWB merger: A win-win deal The shareholders of UWB could not have asked for a better price to exit. IDBI has offered to pay Rs 28 per share to the shareholders of UWB. This is at a 30 per cent premium to its...
Suvarna may merge with Cosmos Co-operative
Suvarna may merge with Cosmos Co-operative In what appears to be a move to pre-empt moratorium and other restrictions from the Reserve Bank of India (RBI), the Shree Suvarna Sahakari Bank (Shree Suvarna) has proposed a...
Banks may consider merger to sustain growth: CARE
State-run banks may consider merger as an important option to sustain growth, rating firm Credit Analysis and Research Ltd (CARE) said on Thursday. Banks, unable to dilute stake to raise capital because...
PNB Housing Finance in talks to dilute 49% stake
PNB Housing Finance, the housing finance arm of state-owned Punjab National Bank, is learnt to be in talks with several investors for diluting 49% stake. Sources close to the development say GE Capital and Tata Capital...
PSB mergers top priority under banking reforms
Consolidation of state-run lenders has climbed to the top of the banking reforms agenda as the cleaning up of their account books gets under way. Mergers have been accorded the highest priority at the second Gyan...
PNB to sell up to Rs 3,000 cr bad loans to ARCs in Q4
As part of its balance sheet clean-up exercise, state-owned Punjab National Bank plans to sell up to Rs 3,000-crore bad loans to asset reconstruction companies (ARCs) in the fourth quarter. “Sale of asset is one...
Strategic Debt Restructuring- A Short in The Arm for Banks
With rising non-performing loans (NPAs) or stressed loans of banks, the Reserve Bank of India (RBI) has come out with Strategic Debt Restructuring (SDR) scheme which will enable banks to recover their bad loans by...
Strategic Debt Restructuring
Strategic Debt Restructuring – A short in the arm for banks With rising non-performing loans (NPAs) or stressed loans of banks, the Reserve Bank of India (RBI) has come out with Strategic Debt Restructuring (SDR)...
IDFC : Moving up the value chain
A 1994 report from Department of Economic Affairs, Ministry of Finance found a lack of specialised financial intermediaries offering funds for infrastructure projects. This lead to the birth of IDFC Limited (IDFC) on...