MONEY & BANKING


IANS 30 January 2019
New facts have emerged at the recent lenders' meeting organised with Zee management. It has emerged that promoters' loans directly or indirectly against the security of their listed Zee Entertainment shares stand at over Rs13,000 crore, adding to the group's liability.   The break-up...

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Moneylife Digital Team 29 January 2019
Dewan Housing Finance Corporation Ltd (DHFL) has siphoned off Rs31,000 crore into promoter companies to create private wealth through a network of shell companies, alleges Cobrapost.    Here is a single infograph that explains what Cobrapost has unearthed about #LooteraDewan....

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Rajeev Jhawar 29 January 2019
In previous two parts, we have seen how regulators are working on sound mortgage lending practices and guidelines issued by some of the authorities. This is the concluding part of a three-part series.    I feel lending standards should be applied in a coordinated way, leading to a...

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IANS 29 January 2019
The CBI is planning to issues summons to former ICICI Bank chief Chanda Kochhar, her husband Deepak Kochhar and industrialist V.N. Dhoot in connection with Rs 3,250-crore loan case involving the Videocon Group and the ICICI Bank.   CBI sources on Monday said the agency would initiate...

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Moneylife Digital Team 28 January 2019
Disbursements of DHFL during the December 2018 quarter shrunk to just Rs510 crore, a fall by over 95%. This raises serious questions about how the business will grow. According to analysts, DHFL reported a slow-down in business 'as per expectation' after IL&FS and liquidity crisis. The focus...

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Rajeev Jhawar 28 January 2019
In previous article, we saw how regulators across the globe are engaged in developing principle of sound mortgage lending, post the global financial crisis of 2007-2008. In this part, we will take a look at guidelines issued by several authorities for sound mortgage...

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Moneylife Digital Team 28 January 2019
All India Bank Officers' Confederation (AIBOC) has strongly condemned management of Catholic Syrian Bank (CSB) for unilaterally reducing retirement age of its officers to 58 from the industry standard of 60 years. AIBOC also condemned the 98-year lender, now majority owned by Fairfax India...

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Moneylife Digital Team 25 January 2019
Has the law has finally caught up with high-profile banker Chanda Kochhar and industrialist Venugopal Dhoot?  Both, along with Deepak Kochhar, husband of Ms Kochhar Videocon International Electronics Ltd (VIEL), Videocon Industries Ltd (VIL) and NuPower Renewables Ltd (NRL) and Supreme Energy...

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IANS 25 January 2019
The Supreme Court on Friday upheld the Insolvency and Bankruptcy Code 2016 (IBC) in its entirety and constitutional validity, causing a setback to operational creditors who include Suppliers, customers and contractors.   A bench headed by Justice Rohinton F. Nariman refused the pleas...

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Rajeev Jhawar 24 January 2019
Prior to the global financial crisis (GFC) of 2007-2008, concerns about sound mortgage lending were largely lender-based. However, the GFC demonstrated how exuberance on the part of lenders in trying to achieve ambitious loans booked may push the entire world into a crisis. Since the GFC,...

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Moneylife Digital Team 24 January 2019
Market regulator Securities & Exchange Board of India (SEBI) has clarified that it has not received any reference on relaxing regulations in the Jet Airways Ltd matter. Some newspapers have published reports attributing views of SEBI on certain relaxations of regulations to Jet...

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Moneylife Digital Team 24 January 2019
The Central Bureau of Investigation (CBI) has filed a case against Chanda Kochhar, the then managing director (MD) and chief executive (CEO) of ICICI Bank, her husband Deepak Kochhar, VN Dhoot, MD of Videocon group, Videocon International Electronics Ltd, Videocon Industries Ltd and NuPower...

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Heather Vogell (ProPublica) 24 January 2019
For many years, the federal government has required banks, brokerages and even casinos to take steps to stop customers from using them to clean dirty money.    Yet one major part of the financial system has remained stubbornly exempt, despite experts’ repeated warnings that it is...

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IANS 23 January 2019
Hearing an appeal by ArcelorMittal for early resolution of bankrupt Essar Steel, the National Company Law Appellate Tribunal (NCLAT) on Wednesday ordered its Ahmedabad Bench to pass the verdict in the case by January 31.   Failing which, the two-member bench of NCLAT headed by Justice...

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Quaid Najmi (IANS) 23 January 2019
In a new development, the State Bank of India (SBI) on Wednesday moved to recover loan outstandings of Rs405 crore from absconding diamantaire Mehul Choksi, his family and companies.   This is the first time the country's biggest bank's exposure has been revealed in the case involving...

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Vijay Mallya, the business tycoon can repay the bank loans at his own convenience; but can an ordinary borrower ask the branch manager for the same privilege? When you open a new account with a bank, it conducts your background check in conformity with RBI's (Reserve Bank of India’s) know your...

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Uday Kotak is a cautious and savvy banker with deep and strong connections in the business world.  However, by no stretch, is he an activist. So, why would he drag his regulator to court, especially the Reserve Bank of India (RBI) which has always guarded its ‘independence’ or lack of public...

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Moneylife Digital Team 22 January 2019
There have been media reports saying that government is planning to provide direct cash support to the farmers in lieu of various farm level subsidies and support. The annual cost of such a scheme is about Rs1.2 lakh crore per annum. However, subsuming it under cash transfer will not...

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Moneylife Digital Team 21 January 2019
Fugitive diamantaire Mehul Choksi continues to dodge the government’s attempts to bring him back to India. In his latest move, he has given up his Indian citizenship and surrendered his passport at Antigua where he has taken refuge for more than a year. Mr Choksi has, reportedly, deposited...

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Two weeks after announcing the merger of Bandhan Bank with Gruh Finance, in which Housing Development and Finance Corporation has a 57.83% stake, Bandhan Bank CEO Chandrashekar Ghosh spent a day and a half in Ahmedabad last week, at the headquarters of Gruh Finance, meeting the top...

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