Suvashree Ghosh
WealthManagement.com
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Past articles by Suvashree:
Bitcoin Tumbles to 18-Month Low After Latest DeFi Lender Blowup
“Things can and likely will get worse before they get better.” → Read More
India’s HDFC Profit Beats Estimate on Strong Home Loan Demand
Housing Development Finance Corp. posted a 16% rise in fourth quarter profit led by strong demand for home loans as the pandemic eased. Net income stood at 37 billion rupees ($484 million) in the three months ended March 31, compared with 31.8 billion rupees a year ago. → Read More
LIC IPO Investors Said to Bid for Double of Anchor Book
(Bloomberg) -- Life Insurance of Corporation of India’s initial public offering gets bids from large investors for twice the size of the anchor book, according to people with the knowledge of the matter. → Read More
More Than Third of India Urban Dwellers Oppose Crypto Law, Survey Finds
(Bloomberg) -- More than a third of India’s urban dwellers oppose the government’s plan to regulate cryptocurrencies, according to a survey by market researcher YouGov. → Read More
India Lifts Curb on Diners Club After Compliance on Data Storage
(Bloomberg) -- India’s banking regulator lifted curbs imposed on Diners Club International Ltd. in April after the payments firm complied with data-storage rules. → Read More
India, Singapore Link Payment Systems to Boost $1 Billion Flows
India and Singapore will link their fast-payment systems to step up cross-border payments and remittance flows, which amount to more than $1 billion each year currently. → Read More
India, Singapore Link Payment Systems to Boost $1 Billion Flows
India and Singapore will link their fast-payment systems to step up cross-border payments and remittance flows, which amount to more than $1 billion each year currently. → Read More
Societe Generale to Expand Into Sustainable Finance in India
(Bloomberg) -- Societe Generale SA plans to move into sustainable energy, transaction banking and trade finance in India, providing funding for local companies developing their businesses in Africa and central Europe. → Read More
Billionaire-Led Piramal Plans Record Bond Sale After M&A Win
The financial unit of Indian billionaire Ajay Piramal’s conglomerate is poised to sell its biggest-ever bond, and will use the money to partly fund the takeover of failed shadow bank Dewan Housing Finance Corp. → Read More
Bidders for India State Banks Should Have Deep Pockets, Says RBI
The potential owners of the soon-to-be privatized government-controlled banks must be financially strong to ensure that the lenders have robust risk buffers, the Reserve Bank of India Governor said. → Read More
India Bank Writes Off $43 Million Debt It Said DBS Would Service
(Bloomberg) -- A struggling Indian bank being acquired by DBS Group Holdings Ltd. will write off 3.18 billion rupees ($43 million) of bonds before being purchased by the Singaporean group. → Read More
Banks Pin Hopes on India Festival Season With Retail Loan Boost
India’s biggest banks are stepping up loans to consumers, betting that people will take advantage of low interest rates to buy homes, cars and gifts as the economy reopens in time for the festival season. State Bank of India, HDFC Bank Ltd., Axis Bank Ltd. and ICICI Bank Ltd. → Read More
Jet Airways’ Lenders Approve Resolution Plan for Bankrupt Firm
A panel of creditors to Jet Airways approved a resolution plan for the bankrupt airline, bringing a 16-month long process to recover dues to lenders closer to completion. → Read More
Blackstone Signs Non-Binding Agreement to Buy Prestige’s Assets
The Blackstone-Prestige deal will include sale of “commercial offices, retail and hotel properties, mall management and identifies maintenance businesses”. → Read More
Billionaire Banker Says Now’s the Best Time to Invest in India
(Bloomberg) -- Overseas investors should look to invest in Indian digital to consumer sector companies now as the economic fallout of the coronavirus pandemic makes valuations of businesses attractive, Asia’s richest banker said. → Read More
Vedanta to Return $2.5 Billion Funds After Delisting Flop
(Bloomberg) -- Billionaire Anil Agarwal’s commodities group will return money raised from banks and bondholders after a plan to delist its Indian unit failed. Vedanta Resources Ltd. will repay $1.4 billion raised via bonds and another $1. → Read More
Vedanta Seeks to Boost Funds for India Delisting By $600 Million
(Bloomberg) -- Vedanta Resources Ltd. is in talks with banks for a further $600 million to finance the delisting of its Indian unit, according to people with knowledge of the matter. The London-based commodities conglomerate has already secured $3. → Read More
India’s Top Court Extends Relaxation of Rules for Bad Loans
India’s top court extended the relaxation of rules over the classification of non-performing loans until further notice, delaying the disclosure of how much bad debt banks actually hold. → Read More
Standard Chartered Fined $13.6 Million for 2007 India Deal
India’s anti-money laundering agency fined Standard Chartered Plc 1 billion rupees ($13.6 million) for breaking foreign exchange rules when it worked on the takeover of a local bank, marking one of the country’s biggest penalties imposed on an overseas lender. → Read More
RBI’s Das Says Loan Restructuring Plan Will Help Revive Economy
New measures to allow Indian lenders to restructure loans will provide a “durable” resolution for cash-strapped businesses and help revive the economy, according to the central bank’s chief. → Read More