Financial Institutions

China's central bank raises stake in HDFC to more than 1%; govt concerned as no red flag raised on deal

HDFC stock fell about 40 percent this year from a high of Rs 2,493 to a low of Rs 1,499 last week.

Bank shares tank after Moody's changes outlook on Indian banks to negative; RBL, Kotak, IndusInd top losers

Bank shares on Friday dropped up to 15 percent after Moody's Investors Service changed the outlook for the Indian banking system to negative from stable

COVID-19 impact: Moody's changes outlook on Indian banks to negative from stable; move triggered by disruption in economic activity

Moody's said Banks' asset quality will deteriorate across the corporate, small and medium enterprises and retail segments, leading to pressure on profitability and capital.

NRAI urges members to shut down restaurants till 31 March in view of rising health risks; to seek stakeholders support to mitigate losses

NRAI said the industry body will work with all its stakeholders in the ecosystem; from landlords to various departments of the government, banks and financial institutions and seek their support in mitigating losses as far as possible.

Pipeline or pipe dream? Nirmala Sitharaman's Public-Private Partnership talk in Union Budget 2020-21 needs a big reality check

When the hype ebbs on the longest Indian budget speech at 160 minutes, questions remain on both quantitative numbers and the administrative detail of the qualitative plans outlined

Budget 2020: Govt to sell stake in LIC via partial listing; sets steep divestment target of Rs 2.1 lakh cr for FY21

Although the government did not give a roadmap for listing LIC, it said that Rs 90,000 crore will be achieved via stake sales in state-owned banks and financial institutions.

Cryptocurrency transactions opposed to protect integrity of banking system; no formal ban issued: RBI tells SC

The RBI said it had not banned cryptocurrencies such as Bitcoin in India, but only ringfenced regulated entities like banks from risks involved in the trading of virtual instruments.

Festive frenzy has kicked in, will clock strong sales this year with demand driven by Tier II, III markets, says Flipkart CEO Kalyan Krishnamurthy

Kalyan Krishnamurthy said this year's edition of The Big Billion Days (TBBD), which will be held from 29 September to 4 October, will see the company taking its "expansive selection to about 19,000 pin codes in the country".

Supreme Court sets aside Delhi HC order granting bail to ex-CFO of Bhushan Steel

Johari was arrested by the SFIO on May 2 for alleged fraudulent activities, including filing false documents with various banks

Existence of Banks Board Bureau shows govt's abdication of responsibility, says M Damodaran, former Sebi chief

Damodaran said the problem with the public sector banks is that the majority owner (government) either does not understand the difference between ownership and management or is unwilling to understand the dichotomy.