Banks (Finance)
Reserve Bank of India (RBI) Governor Raghuram Rajan chose to keep interest rates unchanged on Tuesday, despite suggestions from commercial banks that they might lower rates. This decision comes as banks have been holding on to rates due to liquidity concerns and higher deposit costs. However, Rajan's tough
Banks (Finance)
In a bid to rein in inflation, RBI Governor Raghuram Rajan kept interest rates unchanged, disappointing hopes of sharp reductions during the year. However, his tough message for banks that haven't passed on previous rate cuts seems to have yielded results, with State Bank of India, HDFC Bank,
Banks (Finance)
Shyamsundar Satyanarayan Textiles (P) Limited's (SSTPL) cash credit facility of Rs. 15 crore has been assigned a rating of [ICRA]B+ by ICRA. The rating takes into account the highly fragmented industry structure, weak financial profile, and high working capital intensity. Despite this, the rating derives comfort from
Banks (Finance)
ICRA, a renowned credit rating agency, has reaffirmed its long-term rating of [ICRA]B for Nav Bharat Rice & General Mills (NBRGM), a rice milling and trading company. The rating takes into account the firm's elevated gearing due to large working capital requirements, which have been primarily funded
Banks (Finance)
The Malnad Areca Marketing Co-operative Society Ltd., a co-operative society, has had its long-term fund-based limits rating reaffirmed by ICRA at [ICRA]BB+/Stable with an outlook of Stable. The reaffirmation of the rating is based on the society's long track record, established presence in the arecanut business,
Banks (Finance)
Magma Housing Finance, a public company with unlimited liability, has received an ICRA rating of AA- (pronounced ICRA double A minus) for its Rs. 50 crore bank term loan and Rs. 50 crore non-convertible debentures program. The rating outlook is stable, indicating a stable long-term credit profile for the company.
Banks (Finance)
Bank of America (NYSE:BAC) has amended its bylaws to allow long-term shareholders to nominate directors, joining a growing trend of major public companies embracing "proxy access." The move comes as a result of pressure from public pension funds, including the California Public Employees Retirement System (CalPERS), which
Banks (Finance)
Leading banks in the Diversified Banks industry are currently characterized by low price to book ratios, indicating potential value to investors. Bank of America stands out with the lowest ratio of 0.75, followed closely by Credicorp with a ratio of 0.78. Citigroup ranks third with a ratio of
Banks (Finance)
ICRA has assigned a long-term rating of ICRA B to the Rs. 10.0 crore fund-based bank facilities of Poonam Polymers Private Limited (PPPL), a company engaged in the distribution and trading of BOPP films, polyester films, copper wires, cables, aluminum wires, and paper. The rating is constrained by PPPL&
Banks (Finance)
ICRA, a rating agency, has upgraded the long-term rating of Bhoomi Textiles from BBB to BBB+ on improved financial performance. The upgrade factors in the company's healthy revenue growth in FY14 and current fiscal, comfortable coverage indicators, and better working capital management. Bhoomi Textiles, a partnership concern, has
Banks (Finance)
Royal Bank of Scotland's CEO for Commercial and Private Banking, Alison Rose, has outlined the bank's strategy for supporting small businesses and entrepreneurs through the launch of accelerator hubs across the UK. The initiative aims to provide mentorship, advising, and space for start-ups, with the goal
Banks (Finance)
India's state-owned banks will have to sacrifice growth for some time due to their continued challenges on capital despite the government's recent infusion of funds into nine public sector lenders. Global credit rating agency Fitch Inc. estimates that these banks will need 85% of the $200
