It seems there’s no stopping persistent bank failures in India. Over recent years, there this has happened across categories of banks: public sector banks (IDBI Bank), new private sector banks (Yes Bank) and cooperative...
Proposed LVB-DBS merger a remarkable job: RBI board member
RBI board member Manish Sabharwal on Thursday praised the central bank on its proposal to merge Lakshmi Vilas Bank (LVB) with the Indian arm of Singapore-based DBS Bank, saying the scheme is a new template where a...
RBI’s Lakshmi Vilas Bank bailout plan: Singapore’s DBS to infuse Rs 2,500 crore
DBS Bank India Ltd (DBIL) will take over ailing Lakshmi Vilas Bank (LVB) in a bailout proposed by the Reserve Bank of India (RBI). The Singapore-government backed lender edged out private equity backed Clix Capital and...
Merger talks with Clix on track, says LVB even as losses widen in Q2
Troubled private lender, Lakshmi Vilas Bank (LVB) has reported widening of its net loss to Rs 397 crore in the July-September quarter (Q2) because of rise in bad loans and provisions. The bank had posted a net loss of...
Kotak Mahindra denies takeover talks with IndusInd, but says its open for M&A opportunities
Kotak Mahindra Bank on Monday denied takeover talks with IndusInd Bank but said they were open to M&A opportunities. News agency Bloomberg had reported that Kotak Mahindra Bank is exploring a takeover of smaller...
Adani Group, Piramal among 4 bidders for DHFL, lenders stare at over Rs 60,000 crore write-off
Adani Group and Piramal Enterprises are among the four entities that have placed bids for DHFL, the first financial services player undergoing insolvency process, according to sources. Besides, sources said, the US...
Lakshmi Vilas Bank gets approval from its board to raise up to ₹500 cr
Private sector lender Lakshmi Vilas Bank on Thursday said its board has approved raising up to ₹500 crore through a rights issue. “The board at its meeting held today 15 October 2020 have considered and approved, inter...
Divesting majority stake credit negative for public sector banks leaning on govt: Icra
The proposed divestment of majority government stake in a few public sector banks (PSBs) that were left out of the merger scheme would be credit negative for these PSBs, according to ICRA. Six public lenders including...
Panel moots merger of UP co-operative banks to create Rs 35,000 cr entity
Amid the ongoing process of consolidation in the domestic public sector banking space, an expert panel has suggested the creation of a single state-controlled lender in Uttar Pradesh by merging all the co-operative...
Reconstruction Scheme for YES Bank – Key to Survival of the Indian financial systems
The government finally rescued Yes Bank, the country's biggest-ever banking failure, by asking state-run State Bank of India to infuse Rs 7,250 crore and take 45% stake in the bank. Reserve Bank of India cleared the...
CORONA CRISIS: DEVELOPMENTS IN INSOLVENCY AND BANKRUPTCY LAWS TO SAVE DEBT-LADEN COMPANIES
INTRODUCTION The changing market dynamics, from crashing stock markets to restaurants, airlines and businesses shutting down, the Coronavirus (“Covid-19”) has hit almost every sector. The pandemic has not only caused...
Banking industry in a fix as merger date for PSBs nears
The banking industry is divided over whether to postpone the amalgamation of 10 public sector banks scheduled for 1 April. While some of the smaller banks want the merger to be pushed beyond the deadline, others want it...