UK-based Sun Global Investments is one of the investment bankers that helped bank to raise the money. It has charted out the following key features of the bond-sale: First major masala bond deal after RBI issued fresh approvals to a series of corporated in December 2017, thus announcing the reopening of the masala bond market. India’s first long dated masala bond – stretched the masala yield curve to 7 Years which coupled with the outstanding 3y and 5y Issuances – creates a reasonable duration yield curve for masala bond Investors INR funding – opens a new conduit for all other Indian Banks First private entity from India to raise an “Investment Grade” masala bond rated BBB- by S&P and Baa2 by Moody’s , thus paving the way for other “rated” issues from India. Oversubscribed almost two times and strong book and first masala ond where UK / EU participation outstripped Asia accounts … [Read more...] about HDFC Bank raises funds via offshore rupee-denominated bonds
Uk bank holidays 2017
The Reserve Bank of India on Friday imposed fines on Citibank, Bharat Co-operative Bank, TJSB Sahakari Bank and the Nagar Urban Co-operative Bank for deficiencies in regulatory compliance. Notably, this is the second successive day of the RBI imposing fines on banks, having slapped Bank of India, Karnataka Bank and Saraswat Co-operative Bank with penalties on Thursday. Citibank was fined Rs 4 crore by the regulator, whereas Bharat Co-operative bank, TJSB Sahakari Bank and Nagar Urban Co-operative Bank were fined Rs 60 lakh, Rs 45 lakh and Rs 40 lakh respectively. Citibank RBI on Friday announced that it had imposed a Rs 4 crore penalty on Citibank in January 2020. The Apex Regulator said this was “for contravention of Section 10 (1) (b) (ii) of Banking Regulation Act, 1949 (t and for non-compliance with the directions issued by RBI on obtaining declaration from customers about credit facilities enjoyed with other banks, granting non-fund based facilities to non-constituent … [Read more...] about RBI imposes penalty on Citibank, TJSB Sahakari Bank, Bharat Co-op Bank and Nagar Urban Co-op Bank
NEW DELHI: The finance ministry on Friday said there is no decision taken on the proposal of setting up of a government-sponsored bad bank to help ease pressure on lenders with regard to non-performing assets (NPAs) which are likely to witness a surge due to the COVID-19 crisis. Even the Economic Survey 2017 had proposed this idea, suggesting the creation of a bad bank called Public Sector Asset Rehabilitation Agency (PARA) to help tide over the problem of stressed assets. Lenders have been making a case for setting up a bad bank to ease out pressure of bad loans on them in these difficult times. According to a senior official of the finance ministry, the proposal was discussed during the Financial Stability and Development Council (FSDC) meeting on Thursday. However, no decision has been taken on the issue, the official added. Currently, banks sell their bad loans to asset reconstruction company (ARC) as per the prudent norms of the Reserve Bank of India. SBI Chairman Rajnish … [Read more...] about No decision taken on setting up bad bank: Finance Ministry official
"I have made repeated offers to pay 100 % of the amount borrowed by KFA to the Banks. Neither are Banks willing to take money and neither is the ED willing to release their attachments which they did at the behest of the Banks. I wish the FM would listen in this time of crisis," Mallya tweeted. … [Read more...] about Willing to pay 100% amount borrowed from banks by Kingfisher Airlines, says Vijay Mallya
Even as an attempt to shore up the market, this move is destined to be counter-productive as it sends all the wrong signals to foreign institutional investors, who are already nervous though typically more reliable long-term holders of securities than Chinese retail investors, who regard the market as an extension of the casinos of Macau. … [Read more...] about What ails the Chinese economy?