The announcement by the finance minister (FM) that privatisation of two public sector banks (PSBs) and a general insurance company would be considered during this financial year has been greeted by commentators on the Budget as a major reform in the offing. The present article does not seek...
India Ratings and Research (Ind-Ra) has revised its outlook on the overall banking sector to stable for FY21-22 from negative due to substantial systemic measures that have reduced the system-wide COVID-19 linked stress below the expected levels and banks strengthening their financials by...
India's non-banking finance companies (NBFCs) need to plan for an effective IBOR (inter-bank offered rate) transition, as majority of LIBOR (London inter-bank offered rate) rates are likely to be phased out by the end of 2021, EY India report said.
In financial parlance, LIBOR...
The pandemic continues to shake up the world, with several countries remaining in lock-down. Even in India, where there is a dramatic fall of the COVID-19 cases tending to zero deaths, we see its ugly head rising in quite a few parts—Kerala, Karnataka, and Maharashtra and thousands of dogs...
Transaction auditor Grant Thornton, in a report shared with the Administrator of DHFL, has found certain transactions which are undervalued, fraudulent and preferential in nature, putting the newly-discovered fraud at Rs 6,182 crore.
The Administrator of Dewan Housing Finance...
