Record fresh capital raised via IPOs this year points to capex revival

About half the initial public offerings proceeds of ₹27,435 crore garnered or announced in 2023 are fresh issues, meaning the funds will go into the capital structure of the issuers to either finance capital assets or retire existing debt earlier garnered to build capacities.

JPM Index inclusion is Indian bonds’ liberalisation moment

India’s inclusion in the JP Morgan GBI-EM Global Diversified Index will likely do to sovereign debt what economic liberalisation did to equity ownership in local businesses: Diversify debt holding beyond the traditional bailiwicks of local lenders, insurance companies and the central bank.

RBI concerned over high bad loans at Urban Coop Banks

The governor said that even as UCBs have their cumulative non-performing assets ratio improved to 8.7%, this is “not a comfortable number”. The banking sector gross NPA has eased to a decadal low of 3.9% at the end of March. Granularly, some of the UCBs have very high NPA which according to Das “not at […]

RBI cancels licence of ‘The Kapol Co-operative Bank’

Consequent to the cancellation of the licence, the cooperative bank has been prohibited from conducting the business of ‘banking’ which includes, among other things, acceptance of deposits and repayment of deposits with immediate effect, the Reserve Bank said in a statement.

HDFC Securities launches discount brokerage platform Sky

“The app will provide access to a wide range of investment and trading offerings, including Indian stocks, ETFs, mutual funds, futures and options, currencies, commodities, IPOs, and global equities on a single Fintech platform,” said the firm in a release. “What sets HDFC Sky apart is its cutting-edge technology,” said Dhiraj Relli, managing director, HDFC […]

RBI imposes Rs 1.3 crore penalty on SBI for not adhering to norms

An examination of a risk assessment report showed non-compliance with directions by SBI to the extent that the bank sanctioned a term loan to a corporation in lieu of or to substitute budgetary resources envisaged for certain projects without undertaking due diligence on the viability and bankability of the projects, the RBI said in a […]

Rupee to also gain from India entry into global bond index

While the Reserve Bank of India is likely to absorb some of the dollar inflows and ensure competitiveness of exports, the stable influx of overseas funds is seen providing the rupee a cushion against a multi-year ascent in US bond yields and hardening crude oil prices.