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banks to face heavy capital erosion if rates go up: study
Mumbai: A study conducted by the Indian Council
for International Economic Relations says at least 26
banks could lose 25 per cent or more — 15 of them
even 50 per cent —
of their equity capital if interest rates were to rise
by 320 basis points (bps), given their interest rate exposures.
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DMIL
auction on Feb 12 buoys lenders’ mood
New Delhi: Lenders to the beleaguered Daewoo Motors
India Ltd are hopeful of securing their exposure to the
company with the upcoming auction of the auto-player on
February 12 at the premises of the Indian Merchants Chamber
in Mumbai.
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ICICI
lombard, HDFC Standard up capital base
Mumbai: Two private-sector insurance majors —
ICICI Lombard General Insurance and HDFC Standard Life
Insurance —
on Thursday announced capital infusions into their respective
businesses. ICICI Lombard’s board has approved a
proposal to infuse Rs 110 crore to take its current paid-up
capital base to Rs 220 crore.
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Union
Bank signs corporate agency agreement with NIA
Mumbai: Union Bank of India has become the first
state-run bank to take up composite corporate agency of
a general insurance company in the country by signing
an agreement with the New India Assurance Co Ltd to market
their non-life insurance products.
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Kotak
Mahindra gets nod for bank
Mumbai: Kotak Mahindra Finance Ltd has been awarded
the licence to commence its banking business by the Reserve
Bank of India. The bank is to be called Kotak Mahindra
Bank Ltd and is likely to commence operations before March
31.
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ALF
offers petro card in tie-up with BPCL
Chennai: Ashok Leyland Finance Ltd (ALF) expects
to disburse credit worth about Rs 300 crore through its
tie-up with Bharat Petroleum Corporation Ltd (BPCL). The
tie-up, for a co-branded smart card, was announced here
yesterday.
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`Stable
outlook' for Britannia NCDs
Mumbai: Britannia Industries Ltd's (BIL) Rs 50-crore
non-convertible debenture (NCD) programme has been rated
as `AAA' (Ind) with a "stable outlook'' by Fitch
Ratings India, a 100 per cent subsidiary of Fitch Inc.
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Exim
Bank may recover dues from Daewoo
New Delhi: The Delhi Debt Recovery Tribunal has
passed a judgement in favour of Exim Bank of India, allowing
it to recover a sum of Rs 146.66 crore from Daewoo Motors
India Ltd, bank officials said.
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