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India’s Shadow Bank Tumult Casts a Widening Gloom

A wall of mistrust threatens to feed through to microlenders, hurting the poor and dragging down consumption......»»

Category: topSource: washpostFeb 11th, 2019

India"s Reliance Capital calls auditor"s observations "baseless and unjustified"

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......»»

Category: topSource: reutersJun 13th, 2019

India"s NPL Crisis Erupts: A Major Shadow Bank Defaults On Three Debt Payments

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

Category: blogSource: zerohedgeSep 22nd, 2018

In Shock Move, India Nationalizes Giant Shadow Bank At Center Of Market Rout

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

Category: blogSource: zerohedgeOct 1st, 2018

India Is Missing the Wake-Up Call From Its Shadow-Bank Bust

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

Category: topSource: washpostNov 24th, 2018

Indian Gold-Loan Volume Explodes Amid Banking Sector Credit Crisis

India's $42 billion shadow-banking system has been cracking since the country's largest infrastru.....»»

Category: blogSource: zerohedge31 min. ago

How a shadow banking crisis sent India"s autos sector into a tailspin

Sudhir Gharpure and his sales team sat chatting at a big Maruti Suzuki dealership on the outskirts of Mumbai some two hours after its doors were opened on a recent Saturday morning - not a single customer was in sight......»»

Category: topSource: reutersAug 4th, 2019

Exclusive: India"s SBI tightens lending terms for auto dealers - source, internal memo

State Bank of India (SBI) has tightened lending terms dramatically for auto dealerships, according to a source and an internal memo seen by Reuters, seeking to reduce its exposure to risk from a sector in the midst of a sharp downturn......»»

Category: topSource: reutersJul 29th, 2019

India"s PNB says detects 38 billion rupee fraud

India's state-run Punjab National Bank (PNB) on Saturday said it had reported a borrowing fraud of 38.05 billion Indian rupees ($556 million) in Bhushan Power & Steel Ltd's account to the country's central bank......»»

Category: topSource: reutersJul 6th, 2019

Desperate London Bankers Brace For Thousands Of Job Cuts As "Summer Of Gloom" Begins

Yesterday, we reported about the increasingly dejected atmosphere at Deutsche Bank's Wall Street headquarters, where the looming fear that the bank is going to gut, shutter or sell most, if not all, o.....»»

Category: blogSource: zerohedgeJul 3rd, 2019

Another Indian Crypto Exchange Shuts Down Blaming Banking Ban

Regulatory uncertainty ushered in by India's central bank appears to have brought about the demise of the cryptocurrency exchange Koinex......»»

Category: forexSource: coindeskJun 27th, 2019

St. Louis critic casts lone vote for a Fed rate cut

Jim Bullard, president of the Federal Reserve Bank of St. Louis, stuck to his guns Wednesday — he was the only member of the Federal Open Market Committee to vote in favor of a rate cut. The vote was 9-1 to leave the rates unchanged, in a range of.....»»

Category: topSource: bizjournalsJun 20th, 2019

The Huawei P30 Pro is banned. Here are four great alternative phones

The US ban on Huawei casts a dark shadow over one of the best phones this year. But here are some worthy options for photos and video......»»

Category: topSource: moneycentralJun 10th, 2019

Renault rift with Nissan widens over governance, casts shadow on alliance

The two-decade-old partnership of Renault SA and Nissan Motor Co was plunged into fresh crisis on Monday, as the French automaker's demand for a greater say in Nissan's new governance system drew rare public censure by the Japanese firm......»»

Category: topSource: reutersJun 10th, 2019

Reserve Bank of India Denies Involvement in Draft Bill to Ban Cryptocurrencies

India is embroiled in rumors of a cryptocurrency ban that would have made cryptocurrency mining, trading, and ownership illegal......»»

Category: forexSource: coindeskJun 7th, 2019

India Needs a Mega-Bailout. Here’s How

The funding woes of shadow banks have kept worsening. This is one possible blueprint to restore confidence......»»

Category: topSource: washpostJun 6th, 2019

India cuts interest rate as trade tensions bite emerging economies

India's central bank cut its policy interest rate by 25 basis points in a widely expected move on Thursday after recent data showed the economy growing at its slowest in over four years. Pascale Davies reports......»»

Category: videoSource: reutersJun 6th, 2019

India"s central bank cuts lending rate to 5.75%

India's central bank has cut its key interest rate by a quarter of a percentage point to 5.75% from 6% with immediate effect to fortify the economy as consumer spending and corporate investment falter......»»

Category: topSource: foxnewsJun 6th, 2019

The Huawei P30 Pro is banned - here are some alternatives

The US ban on Huawei casts a dark shadow over one of the best phones this year. But here are some worthy alternatives for photos and video......»»

Category: topSource: moneycentralMay 26th, 2019

Asian shares off four-month lows, but Huawei row casts shadow

Asian shares won some respite on Tuesday after Washington temporarily eased trade restrictions imposed last week on China's Huawei, although fears of a further escalation in tensions kept investors on edge......»»

Category: topSource: reutersMay 21st, 2019

Etihad submits bid for India"s Jet, eyes minority stake

Middle Eastern carrier Etihad Airways has submitted a bid for a stake in India's Jet Airways, the unit of State Bank of India (SBI) overseeing the sale of the stricken airline said on Friday......»»

Category: topSource: reutersMay 10th, 2019