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Private banks: Four private banks pick up 9 9% each in India Debt Management Company

“All the groundwork is in place to operationalise the bad bank; we are seeking a licence from the RBI this month and are hopeful that the asset transfers will start beginning August,” said a senior bank official involved in the planning and implementation of the bad bank. “This will significantly help take the load off bank books.” HDFC Bank, Axis Bank, ICICI Bank and IDBI Bank did not respond to ET’s mailed queries. Lenders led by IBA have also made a case with the RBI to regulate the debt management company, avoiding dual regulations involving capital markets regulator Sebi.

Indian banks associationIndia debt management company limitedAxis bankNational asset reconstruction companyஇந்தியன் வங்கிகள் சங்கம்அச்சு வங்கிதேசிய சொத்து புனரமைப்பு நிறுவனம்

Nifty today: SGX Nifty up 110 points; here s what changed for market while you were sleeping

Yuan flat at 6.4756 against the greenback Crude up on hopes of fall in US crude stocks Oil rose on Tuesday, recovering from the previous day s drop, as expectations of further declines in US crude inventories outweighed fears that spreading Covid-19 variants could derail a global economic recovery. Brent crude for September climbed 25 cents, or 0.3%, to $75.41 a barrel by 0036 GMT. U.S. West Texas Intermediate crude for August was at $74.33 a barrel, up 23 cents, or 0.3%. FPIs sell shares worth Rs 746 crore Net-net, foreign portfolio investors (FPIs) turned sellers of domestic stocks to the tune of Rs 745.97 crore, data available with NSE suggested. DIIs, turned buyers to the tune of Rs 447.42 crore, data suggests.

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bad bank: Lenders set up bad bank for loans in default

Synopsis In May, banks decided to appoint Padmakumar M Nair, chief general manager in charge of stressed assets in SBI, as the MD of the NARC. According to RBI norms, an ARC should have minimum net-owned funds of not less than 15% of the total financial assets that it plans to acquire on an aggregate basis or Rs 100 crore. Agencies (This story originally appeared in on Jul 13, 2021)Public sector lenders led by Canara Bank have officially formed the bad bank the National Asset Reconstruction Company (NARC). Their next step now is to obtain approval from the Reserve Bank of India (RBI) to function as an ARC.

Padmakumarm nairVideocon oil ventures rsNational asset reconstruction companyCanara bankReserve bankVideocon oil venturesAmtek autoReliance navalJaypee infratechCastex technologiesதேசிய சொத்து புனரமைப்பு நிறுவனம்கனரா வங்கிஇருப்பு வங்கிஅம்டெக் ஆட்டோநம்பகத்தன்மை கடற்படைஜெய்பீ இன்ப்றதேச்

India sets up bad bank to reduce debt burden, free up lenders

India sets up bad bank to reduce debt burden, free up lenders
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Nirmala sitharamanSunil mehtaNarendra modiPadmakumar madhavan nairSalee sukumaran nairIndian bank associationNational asset reconstruction company ltdRegistrar of companiesCanara bank ajit krishnan nairNational asset reconstruction companyState bankSukumaran nairCanara bankAjit krishnan nairPrime minister narendra modiSouth asian

India Sets Up New Bank to Free Up Lenders for Credit Push

India Sets Up New Bank to Free Up Lenders for Credit Push
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