India’s Shadow Bank Tumult Casts a Widening Gloom

A resurgence of COVID-19 infections in India and Southeast Asia, as well as a spike in confirmed cases in Taiwan, may cast clouds on the IC market outlook this year, according to industry sources......»»

Reliance Capital Ltd said on Thursday the observations of PricewaterhouseCoopers (PwC) about its fiscal accounts were "completely baseless and unjustified", a day after the auditor withdrew from assessing the shadow bank's fiscal year 2018/19 accounts......»»

IL&FS Investment Managers, a unit of India’s Infrastructure Leasing & Financial Services (IL&FS.....»»

One week after we reported that I.....»»

Ratings companies and mutual funds refuse to heed lessons from the $12.8 billion bankruptcy of IL&FS Group......»»

As COVID-19 cases surge in Taiwan, concerns have been raised over the stability of chip supply from the local semiconductor value chain. No major infections have been reported among Taiwan's semiconductor and IT supply chains yet, but Pegat.....»»

Spooky things can come out of the shadows, and shadow banks, as non-bank lenders are called, have been a source of unpleasant surprises for markets across the globe over the years. Now shadow banks in Mexico, where they have boomed recently, ar.....»»

India has unveiled a plan to set up a bad bank, its latest attempt to tackle the mountain of defaulted debt that threatens to cripple its financial system. With soured assets pegged at a more than two-decade high, the move is aimed at reviving.....»»

Tech is still booming in Silicon Valley — though not much else is — and the pandemic continues to unearth deeper problems in the local economy......»»

Part of England has been forced into a strict lockdown right before the holidays, casting a gl.....»»

See the rest of the story here. Theflyonthewall.com provides the latest financial news as it breaks. Known as a leader in market intelligence, The Fl.....»»

One of Cincinnati's largest universities is expanding its MBA program overseas. On Wednesday, Northern Kentucky University announced its Haile/US Bank College of Business has signed a memorandum of understanding with two universities in India to all.....»»

Yes Bank Ltd said on Thursday it was looking to raise up to 50 billion rupees ($665.88 million) in an effort to shore up its capital base after a government-led rescue of the private sector lender......»»

Widening travel curbs to contain the spread of the coronavirus prompted more flight cancellations on Monday, with new restrictions spanning India, Australia, New Zealand, the United Arab Emirates (UAE), Hong Kong, Singapore and Taiwan......»»

Widening travel curbs to contain the spread of the coronavirus led to further flight cancellations on Monday, with new restrictions spanning India, Australia, New Zealand, the United Arab Emirates (UAE), Hong Kong, Singapore and Taiwan......»»

India's Yes Bank will not be merged with State Bank of India , which is set to infuse funds in the beleaguered lender, the newly appointed administrator leading the rescue plan said in a television interview on Monday......»»

The unexpected writedown of some bonds issued by crisis-hit Indian lender Yes Bank Ltd as part of a state-led rescue is set to raise borrowing costs and make capital-raising tougher for other banks, investors and analysts said......»»

India laid out a rescue plan for Yes Bank on Friday under which State Bank of India will take a 49% stake in the troubled lender, which is struggling with bad loans......»»

Shares in India's Yes Bank plunged on Friday as panicky depositors rushed to withdraw funds and payment partners faced outages after the banking regulator took control of the lender in a late-night move and limited withdrawals......»»

State Bank of India , the country's largest lender, will take a 49% stake in Yes Bank , the Reserve Bank of India (RBI) said late on Friday as it laid out a plan for the rescue of the troubled private lender......»»