Free Press Journal
  • New Amfi chief sees industry clipping at 20-25% CAGR till 2020

    Mumbai: Veteran banker and bond market specialist NS Venkatesh, who took over as the Amfi chief late last month, expects the industry to continue to grow at a compounded annual rate of 20-25 per cent over the next three  years given the deepening financialisation of the economy.

  • LIC may participate in bank recap plan

    As part of recap,  LIC could also increase its stake in PSBs which are required to raise Rs 58,000 crore from the market.  LIC could also participate in a non-operating holding company (NOHC) structure.

  • Bids invited for Jaypee Infra insolvency plan

    New Delhi : Applications have been invited from corporate entities for submission of resolution plan for the debt-laden Jaypee Infratech under the insolvency law, according to a public notice. The National Company Law Tribunal (NCLT) has admitted the application by an IDBI Bank-led consortium seeking resolution for Jaypee Infratech under the Insolvency and Bankruptcy Code. Moving ahead with the process, the NCLT-appointed insolvency resolution professional (IRP) Anuj Jain has sought applications from

  • Two-day strike at IDBI Bank ‘total success’: AIBEA

    Chennai: All India Bank Employees’ Association today termed the two-day strike by IDBI Bank employees as a “total success” and said the unions would decide upon industry level strike next month.

  • IDBI Bank employees to strike work on October 24-25

    Chennai: Employees of the IDBI Bank will strike work for two consecutive days (October 24 and 25) demanding long pending wage revision, said All India Bank Employees’ Association (AIBEA). Wage revision for employees and officers of IDBI Bank is due for the period from 1-11-2012 to 31-10-2017 on the lines of the settlement in all other banks.

  • LML lays off workmen, suspends operations

    The company is under corporate insolvency resolution process as per orders passed by Allahabad bench of the National Company Law Tribunal. Its request for raising  funds was rejected by lenders.

  • Jaypee Infratech gets Supreme Court breather

    New Delhi : The Supreme Court Monday stayed insolvency proceedings against Jaypee Infratech Ltd in the National Company Law Tribunal, Allahabad, till Oct 10, when the court hears the case again. The insolvency proceedings against the company were initiated in the tribunal by IDBI Bank. The apex court was hearing a batch of petitions by several groups of homebuyers of the company’s projects in Noida and Greater Noida. These homebuyers have alleged

  • IDBI looks to sell 6 prime properties in Mumbai

    New Delhi : IDBI Bank plans to sell six properties in prime areas of Mumbai in the current financial year to tide over issues related to capital and profitability. The lender seeks to hire a real estate consultant to advise on and facilitate the sale of assets. “The aim is to conclude the transactions as early as December, so that it reflects in our Oct-Dec earnings. However, the bank is aware that

  • State Bank moves NCLT, files insolvency against Electrosteel

    New Delhi : Consortium leader SBI has initiated insolvency proceedings before NCLT against Kolkata- based Electrosteel Steels to recover Rs 10,000 crore in loans as bankers tighten screws on big corporate defaulters.

  • Bhushan Power & Steel referred to NCLT

    Mumbai : Bhushan Power & Steel on Friday became the sixth amongst the 12 largest indebted companies named by the RBI to face liquidation proceedings, as the lenders led by PNB decided to refer it to NCLT.

  • IDBI Bank sets up department to manage bad loans

    Hyderabad : IDBI Bank has created a special department for managing bad loans and monitoring credit after taking a series of hits which include being put “under watch” by RBI and a downgrade by credit rating agency Icra.

  • PSBs plan to mobilise Rs58k cr from capital markets this fiscal

    New Delhi : Public sector banks, including SBI, Bank of Baroda and IDBI Bank, plan to raise Rs 58,000 crore through equity dilution during the current fiscal to meet Basel-III norms and clean up their balance sheets.

  • RBI initiates prompt corrective action for Dena Bank

    Mumbai : The Reserve Bank has put Dena Bank under watch by initiating prompt corrective action against it, a move that will place various restrictions on the lender, including on fresh loans and dividend distribution.

  • Icra downgrades IDBI Bank’s debt instruments; rating on watch

    Mumbai : Domestic rating agency Icra on Tuesday  said that  it has downgraded various debt instruments of state-run IDBI Bank on the back of weak profitability and deteriorating asset quality, which have resulted in erosion of its capital. The agency has also kept the lender’s ratings under watch with negative implications.