The government also said that Air India will operate 64 flights from May 7 to May 13 to bring back around 15,000 Indian nationals stranded abroad amid the COVID-19-induced lockdown.

No potato needed

The tax proposals would face opposition from the Republican-controlled Congress. Its lawmakers argue that tax hike would hamper economic growth at a time the country cannot afford it

Marissa Mayer, chief executive of Yahoo, said on Tuesday that the internet company would spin off its 15.4% stake in Alibaba...

By spinning off stake into a separate firm, Yahoo will be judged by its Web businesses

You’ve got to hand it to SAP for competitive vision. Then take some back for how it’s explaining itself.

As we learned during the financial crisis, a country with high debt levels can get into trouble regardless of whether its debts are most heavily owed by the govt (Greece, Italy), households (Spain, US), or financial institutions (Ireland, Britain)

Finance ministers to meet on Monday again to find a solution

The Federal Communications Commission voted on Thursday to regulate broadband Internet service...

HSBC pledged a new era of higher dividends on Tuesday, laying out plans to slash nearly one in five jobs...

US Elections 2016: The US Embassy in Delhi is all set to welcome the new President. Here are some pics what the US embassy in Delhi looks like right now:

Billionaire Alibaba co-founder Jack Ma called fighting over trade senseless and decried once again a widening conflict between the US and China.

At that price, the IPO would surpass the offering of former national carrier Nippon Telegraph & Telephone in 1987.

Asian nations gave up hopes of completing a 16-nation trade bloc this year, with Chinese and Australian officials now looking to finalise the deal in 2019.

Deutsche Bank chief executive officer Christian Sewing was there to give the annual pep talk to his top executives.

SoftBank has set an indicative price of 1,500 yen ($13.23) per share for its initial public offering (IPO), a regulatory filing showed on Friday, making the deal worth 2.4 trillion yen ($21.16 billion) in one of the world’s biggest-ever listings.

For the Federal Reserve, 2019 has started out looking a lot like 2016: The last time uncertainty over global growth roiled financial markets for months on end.

People familiar with the Walmart partnership with Deliv said the Deliv drivers had to frequently wait 40 minutes or more to collect grocery orders when they showed up at the store. One reason for that, they said, is because Walmart gives a priority to customers over delivery drivers during regular hours, which complicated the partnership.

RBI clarified that any amount that is not used within the given time frame would attract a penal interest – the prevailing policy repo rate plus 200 basis points for the number of days the money remained unused.

Loans and advances grew 60% year-on-year during 2019-20, from Rs 44,776 crore in March 31, 2019. Its total deposits grew 32% y-o-y to Rs 57,073 crore during the fiscal ended March, 2020. The bank had total deposits of Rs 43,232 crore as at end of March 2019.

The Yes Bank crisis, coupled with the coronavirus outbreak, may have some dire impact on India’s smaller private sector banks.

In 2017-18, the RBI permitted several PSBs under the prompt corrective action (PCA) framework to buy back AT-1 securities and lower the risk of a trigger event occurring under Basel-III rules.

Direct Benefit Transfer (DBT) to the poor and vulnerable section of society, hit hard by the coronavirus outbreak and the consequent lockdown, is providing financial support for sustaining during these difficult times.

According to dealers, firms like Reliance Industries (RIL), NABARD, and Tata Steel are likely to hit the bond market on Thursday with an intention to raise a cumulative Rs 15,000 crore.

Private banks are also understood to be entertaining requests for a moratorium as some of them have exposure to microfinance borrowers themselves and have a good sense of the market.

"Since March 15, our volumes on outward remittance services have increased many fold. There is a significant difference in before-and-after demand since mid of March," said Praveen Kutty, Head of Retail and SME Banking, DCB Bank without quantifying the increase in demand.

Banks are required to hold LCR which is 100 per cent equivalent of projected cash outflows during the 30-day stress scenario.

Earlier, the Business Correspondent Federation of India (BCFI) had said that while the BCs were offering services of cash withdrawal, very few are depositing money in the wake of the current lockdown.

Ananth Narayan, professor-finance at SPJIMR, believes that while TLTRO 2.0 is welcome, it does not address the core issue.

Notably, following RBI's announcement on allowing a moratorium on term loans for March 1 to May 31, most of the MFIs have extended a moratorium to their borrowers till May 31.

It appreciated HDFC Bank's comfortable capitalisation, strong earnings, regular capital raising to fund above-average growth and the "best" asset quality in the system.

Jagdishan and Bharucha are the internal candidates and have been serving the bank for many years each, while Garg is working with American bank Citi at present.

S&P Global Ratings on Saturday affirmed HDFC Bank’s issuer credit rating at BBB-/Stable/A-3 and senior unsecured rating at BBB-, adding that the lender’s rating will move in tandem with that of the sovereign.

The bank saw the fallout of the lockdown in the second half of March, with loan origination and cross-selling of other products slowing down, the management said.

The new provisioning requirement has to be made for the March and June 2020 quarters and this will impact their profitability in 2019-20 and 2020-21.

Kotak Mahindra Bank, which has revised interest rate on daily balances in savings account multiple times over the past year or so, has again made a change.

To tackle the current crisis arisen from the COVID-19 outbreak and the consequent nationwide lockdown, the government and the RBI have announced many measures to ease the stress of businesses. 

In a recent report, global ratings agency Standard & Poor's had said Kotak Mahnidra Bank can weather the challenges that will be posed by the infections and affirmed its rating on the lender.

This novel facility offers customers yet another way to connect with their bank from home at a time when they are advised to stay indoors in the wake of the nationwide lockdown, ICICI Bank said in a release.

Market is viewing the fund-raising announcement in a positive light as the lender’s move to build up capital reserves is being seen as a sensible move at a time of uncertainty.

The loan moratorium, as suggested by the Reserve Bank of India (RBI) last month and subsequently implemented by various lenders across the country, might be able to provide some temporary relief for now but could also play a hand in changing the credit landscape of the banking sector.

The RBI last month cut the policy rate by 75 basis points to spur growth amid the COVID-19 crisis.

The percentage of applicants is in low single digit as a share of the loan book, the bank said, but this could go up as it has not put a deadline or a cut-off for people to apply.

The regulatory norms with respect to provisioning and asset recognition are uniform for Indian banks’ domestic and foreign exposures.

Loan waiver schemes for agricultural loans introduced by some of the state governments may also help reduce stress to some extent.

The Wadhawan brothers are accused in the YES Bank-DHFL fraud cases. The DHFL (Dewan Housing Finance Limited) group has a loan amount of about Rs 3,700 crore taken from Yes Bank that is under "stress".

Experts say more borrowers are likely to line up for emergency credit from banks as many businesses will be hit by the slump in demand and zero footfall in the market in the wake of the pandemic.

The tenor of Sidbi’s lending to financial institutions will be 90 days. MSMEs have been cash-starved for a few years and the lockdown to control the spread of Covid-19 is a body blow to their revenues.

The other financial institutions who had come to Yes Bank’s rescue in May continue to hold on to their stakes, with State Bank of India (SBI) holding a 48.21% share.

NBFCs have been asking for a bail-out in the form of a government credit guarantee or a TARP –like structure.