RBI says 'watchful' of banks' bad loans levels
Published on Wednesday, July 29, 2015 10:01 AM
MUMBAI - Reserve Bank of India Deputy Governor S. S. Mundra said the latest April-June earnings from state-owned lenders showed "stability" in terms of non-performing assets (NPAs), but added the central bank would remain "watchful." ...
India's banking sector, dominated by more than two-d
India lifts 30 pct less volume under long-term Qatar LNG deal - sources
Published on Wednesday, July 29, 2015 10:09 AM
By Nidhi Verma ...
NEW DELHI - India has imported 30 percent less liquefied natural gas (LNG) than it is supposed to under a long-term deal with Qatar as a slide in spot prices has cut demand from local buyers, two sources with knowledge of the matter said on Tuesday.
So far this year Petronet LN
SEBI orders cancellation of Sahara asset management permit
Published on Wednesday, July 29, 2015 9:45 AM
MUMBAI - The Securities and Exchange Board of India (SEBI) has ordered the cancellation of Sahara conglomerate's fund management business permit in six months, saying it failed to meet a "fit-and-proper" rule with the group founder in jail. ...
Sahara founder Subrata Roy was arrested in March last y
PNB may take over steelmakers to recover debt
Published on Wednesday, July 29, 2015 9:44 AM
By Krishna N. Das and Manoj Kumar
NEW DELHI - Punjab National Bank (PNB), India's fourth-largest state lender by assets, could take control of some of the country's most heavily indebted steel companies and sell them on as part of a restructuring backed by New Delhi, bank officials said.
Qatar Airways says in talks with IndiGo
Published on Wednesday, July 29, 2015 9:42 AM
DUBAI/NEW DELHI - Qatar Airways said on Tuesday it was in talks with IndiGo about taking a stake in India's biggest airline that would expand the Gulf carrier's foothold in one of the world’s fastest growing aviation markets. ...
"Qatar Airways confirms that the only airline it is talking to is
Pininfarina, Mahindra to resume sale talks in September - sources
Published on Wednesday, July 29, 2015 9:40 AM
MILAN - Talks on the sale of indebted Italian car designer Pininfarina to Indian vehicle maker Mahindra & Mahindra will resume after the summer after the parties failed to strike a deal in July, two sources close to the matter said on Tuesday. ...
The key investor in Pininfarina and the group's creditor b
Antitrust watchdog imposes $66 million penalty on Hyundai Motor
Published on Wednesday, July 29, 2015 9:38 AM
MUMBAI - The Competition Commission of India (CCI) fined the local unit of Hyundai Motor Co 4.2 billion rupees ($65.8 million) on Tuesday after an investigation found it had engaged in anti-competitive practices. ...
The competition watchdog also found carmakers Mahindra Reva Electric Car Company, part of Mahindr
State lenders' Q1 earnings dragged by rise in bad loans
Published on Wednesday, July 29, 2015 9:34 AM
By Devidutta Tripathy ...
MUMBAI - Three of India's leading state-run lenders reported a drop in their first quarter net profits, weighed down by rise in provision for bad loans and cooling expectations of a turnaround in the country's dominant but ailing government banking sector.
PNB Q1 net nearly halves, shares up on stable bad loan ratio
Published on Wednesday, July 29, 2015 9:30 AM
MUMBAI - Punjab National Bank, India's fourth-biggest state-run lender by assets, reported on Tuesday a 49 percent drop in quarterly profit as provisions nearly doubled. ...
The stock, however, jumped as much 6.7 percent as the bank's bad loan ratio fell marginally in the three months to June, compared wi