Edelweiss ARC, Phoenix ARC, Omkara ARC, and Prudent ARC eye Indian Overseas Bank's loan portfolio. Sets with reserve prices. ARCs conduct due diligence. Bank reports lower non-performing Assets.
Indian banks had a strong fiscal 2024 but face challenges in the current year due to regulatory changes impacting credit growth and net interest margins. Return ratios and riskier lending are also areas of concern as the market adapts.
The bank's net interest income for the quarter improved 11.5% to Rs 996 crore while other income was 57% higher at Rs 629 crore. The net interest margin for the quarter, however, was at 4.19%, down 18 basis points from 4.37% a year ago.
"Vis-a-vis, the rest of the world, the earlier story of a regular rupee depreciation will start to dissipate. While we are going to be a function of global markets, the rupee bonds will actually outperform the US and the rest of the developed markets," Ashhish Vaidya, head, treasury & markets, DBS Bank India, told ET.
Unimoni Financial Services CEO Krishnan R highlighted that states like Kerala, Telangana, Tamil Nadu, Bihar, Maharashtra, and Punjab are actively participating in the gold loan market. While farmers constitute a significant portion of their clientele, individuals, small businesses, and micro enterprises are increasingly turning to gold loans for various needs like education, weddings, and medical expenses. The surge in gold prices enhances lenders' security, allowing them to maintain favorable loan-to-value ratios.
IL&FS applies for MMRDA approval to transfer its BKC headquarters to Brookfield Asset Management. NCLT's transfer is pending, causing delays. Brookfield progresses towards property acquisition as IL&FS aims to manage debt through asset monetization efforts.
A number of resident individuals working in Indian subsidiaries and arms of offshore parents have recently received notices from the Income Tax (I-T) department which has pointed out amounts that either went undisclosed or untaxed or both.
According to sources familiar with the situation, the insurance regulator has granted approval for the Hinduja Group to acquire Reliance Capital's life, general, and health insurance businesses, with the condition that shares of the companies will not be pledged. However, the deal is still pending approval from the Reserve Bank of India (RBI) and the Competition Commission of India (CCI).
CII's business confidence index touched a 12-quarter high in Q4FY24, with 51% of firms expecting capacity utilisation of 75% and above. Moreover, 71% expect an improvement in private capex in the first half of FY25 compared with the second half of FY24.
"Vis-a-vis, the rest of the world, the earlier story of a regular rupee depreciation will start to dissipate. While we are going to be a function of global markets, the rupee bonds will actually outperform the US and the rest of the developed markets," Ashhish Vaidya, head, treasury & markets, DBS Bank, told ET.
Corporate India is actively seeking cybersecurity professionals amidst rising concerns over data breaches, evolving regulatory requirements, and the emergence of advanced artificial intelligence platforms. To address vulnerabilities in security controls and processes, companies are bolstering their cybersecurity teams across various domains.
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