Reuters India

By Dharamraj Dhutia MUMBAI (Reuters) -India’s Navi Finserv has withdrawn a planned bond sale scheduled for bidding on Monday, the firm said, days after the country’s financial regulator barred the non-bank finance company (NBFC) from issuing new loans. The company was scheduled to raise 1 billion rupees (nearly $12 million) through two-year and three-month bonds, …

India’s Navi Finserv withdraws bond sale days after RBI action Read More »

MUMBAI (Reuters) – Shares of India’s Kotak Mahindra Bank and RBL Bank slumped on Monday as the lenders reported a jump in bad loans that hurt their second-quarter profit and margins, a trend that could continue for a few more quarters. Kotak’s shares slid as much as 6% to a near two-month low in early …

India’s Kotak Mahindra Bank, RBL Bank slump as loan stress hurts Q2 earnings Read More »

By Shivam Patel NEW DELHI (Reuters) – A former Indian government official charged in the United States this week for allegedly directing a foiled murder plot had been arrested in New Delhi in December in an attempted murder case, according to court records and a police officer. The U.S. Justice Department unsealed the indictment of …

India ex-official charged in US murder plot had been arrested in Delhi attempted murder case Read More »

MUMBAI (Reuters) – HDFC Bank, India’s largest private lender, beat analysts’ forecasts for July-September profit on Saturday, helped by higher core lending income, while margins were slightly lower on a sequential basis. The Mumbai-based lender posted a standalone net profit of 168.21 billion rupees ($2 billion) for the second financial quarter, up 4% from the …

India’s HDFC Bank beats quarterly profit forecast, margins dip slightly Read More »

MUMBAI (Reuters) – India’s Kotak Mahindra Bank on Saturday reported a lower-than-expected 5% increase in July-September profit on higher loan provisions while lending margins shrank. The private lender’s standalone net profit, excluding subsidiaries, rose to 33.44 billion rupees ($397.8 million) in the second financial quarter from 31.91 billion rupees last year. That was below the …

India Kotak Mahindra Bank’s quarterly profit misses estimates on higher provisions Read More »

(Reuters) – JM Financial said on Friday that the Reserve Bank of India has lifted the ban on one of its units, allowing it to resume financing activities related to shares and debentures, including providing loans for IPO subscriptions. In March, the central bank barred JM Financial Products from giving out loans against shares and …

India’s central bank lifts restrictions on JM Financial’s non-banking unit Read More »