Reliance Power has made a Rs 1,200 crore one-time settlement (OTS) offer to the lenders of its subsidiary, Vidarbha Industries Power Ltd (VIPL), to settle the debt.
Reliance Power has offered to pay Rs 1,200 crore in upfront cash to the lenders of VIPL which include Axis Bank, SBI, Bank of Baroda, PNB, Canara Bank, and Bank of Maharashtra.
The outstanding loan of the company as on March 31, 2022, is around Rs 2,200 crore.
Reliance Power's OTS offer is backed by Varde Partners of ...
Reliance Power offers Rs 1,200 crore to settle debt of VIPL power project
Adani Airport Holdings increases borrowing limit by Rs 2,500 crore
The Adani Group has increased the borrowing limit of its airport arm — Adani Airport Holdings (AAHL) — from Rs 14,000 crore to Rs 16,500 crore to fund the expansion of its eight airports across the country
AAHL currently manages seven functional airports in Mumbai, Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati, and Thiruvananthapuram. It is also building Navi Mumbai airport, which is expected to start oper...
Key Stock News: Adani Group, NTPC , Indian Oil Corporation , Policy Bazaar, Canara Bank, Ola Electric - ARETE Securities
Arbitrage between the lending and deposit rates, higher credit demand, and lower loan provisions resulted in public sector banks (PSB) posting handsome profits during Q2FY23 and H1FY23, say experts.
However, the happy times for the government banks may not continue for much long as competition will soon emerge for deposits, and loans, which, in turn, would increase the cost of funds and reduce the margins, the experts added.
Further maintaining good employee relations by the PSB managem...
Happy days now, but challenging times ahead for public sector banks
As banks' outstanding dues shot up to a whopping Rs 8.58 lakh crore, Maharashtra and Delhi top the list of defaulters, as per the latest official data of TransUnion CIBIL Ltd.
The figures show that as on March 31, 2022, there were 30,359 records of borrowers with defaults of Rs one crore and above, with recovery suits filed against them by various banks, totalling to outstanding of Rs 858,396.32 crore.
This amount has more than tripled since March 31, 2017 -- from 17,236 accounts ...
Maha, Delhi top defaulters as banks` dues mount to Rs 8.58 lakh crore
