IL&FS crisis: Efforts underway to stabilise the system, normalcy to return in couple of weeks: SBI Chief Rajnish Kumar
Responding to a question on IL&FS and the impact of shadow banking on the Indian economy, Kumar said since it is an NBFC, it has had a contagion effect.
Chartered accountants' body indicates not receiving information from SFIO, various agencies on IL&FS crisis
The Institute of Chartered Accountants of India (ICAI) has constituted a nine-member panel to study the systemic issues in the IL&FS crisis, amidst the government stepping up efforts to address problems related to the case.
State of the economy: IL&FS crisis could spread to other NBFCs if resolution doesn’t come fast, says Siddharth Purohit
Siddharth Purohit, research analyst at SMC Global securities, speaking at Firstpost State of the economy dialogues, an interview series where experts analyse the economy
NBFC liquidity crisis rattles realty sector; may hit demand-supply and fund inflows to developers: Report
The NBFC sector is under crisis since last month when it came to light that IL&FS group defaulted on short-term loans.
NBFC crisis may delay real estate sector's much-anticipated recovery as loan disbursals to developers slow down
Besides the financial sector, the real estate business may also face the heat due to the ongoing crisis in NBFC sector, triggered by IL&FS default.
Banks spiked loan exposure to NBFCs by one lakh crore in March, months before IL&FS crisis hit financial markets
Banks lent a whopping Rs one trillion in Feb-March to NBFCs, only months before il&fs crisis hit markets
IL&FS revival plan: New board could include stake sale says govt official, rules out budgetary support
The revival plan could include selling big stakes in its businesses, including IL&FS Financial Services and IL&FS Energy Development, or even “closing” them, the official said.
The newly constituted board of Infrastructure Leasing and Financial Services (IL&FS), headed by veteran banker Uday Kotak, will meet for the second time Friday to decide on the further course of action plan for the cash-crunched company
Cash-strapped IL&FS is facing serious liquidity issues and it, along with its subsidiaries, has defaulted on various debt repayments
State Bank of India (SBI) said on Tuesday it will buy good quality assets worth Rs 45,000 crore from NBFCs that are facing liquidity crunch triggered by a series of debt repayment defaults by financial conglomerate IL&FS and its subsidiaries.
RBI is looking at strengthening the guidelines to avoid situations of asset liability mismatches by non-bank lenders, especially infrastructure financing NBFCs dependent on short term liabilities like commercial papers
IL&FS board was aware about need for capital infusion three and half year ago, says former independent director Jaithirth Rao
Rao says that IL&FS had approached a Middle East based sovereign wealth fund and also a cash rich Indian group, but both plans didn't work at the end.
After its maiden meeting, chairman of the new board Uday Kotak told reporters that the board will meet the IL&FS shareholders including state-run LIC which has 25.34% stake, Orix Corporation of Japan with over 23.7% stake, HFC, SBI and Central Bank, at an appropriate time
Maruti Suzuki chairman RC Bhargava says will not step down from the company's board over IL&FS crisis
RC Bhargava is among the 10 former directors of IL&FS against whom the Ministry of Corporate Affairs has filed a petition to the National Company Law Tribunal (NCLT) alleging mismanagement and negligence as the firm defaulted on payments.
The government earlier this week superseded the board of IL&FS, which has a debt burden of Rs 91,000 crore and has defaulted on series of loan repayments
Petrol, diesel prices cut updates: 10 states reduce fuel cost; Mamata says Centre not bothered about masses
Arun Jaitley press briefing LIVE updates: Finance Minister Arun Jaitley will hold a press briefing today where he is likely to address a number of issues including the rising fuel prices especially after a last-minute meeting with oil minister Dharmendra Pradhan last evening
SFIO probe ordered into IL&FS: Risk committee met only once in last four years; governance loopholes observed
There are several indicators which highlight the operational mismanagement and corporate governance loopholes in IL&FS
IL&FS crisis: Govt seizes control of debt-trapped firm; these are 15 members of board that were dismissed
Mumbai-bench of NCLT approved six directors, including Kotak Mahindra Bank MD Uday Kotak, former SEBI chairman GN Bajpai and ICICI Bank chairman GC Chaturvedi, to takeover the board
IL&FS crisis: Redemption pressure on mutual funds, capital inadequacy for smaller NBFCs among key concerns
In only the second instance in nearly a decade, the government has superseded the management of IL&FS where state-owned LIC is a major shareholder.