SBI Chairman Rajnish Kumar said that 82 per cent customers have paid two or more instalments of loans during the COVID-19 period. Uday Kotak, MD & CEO of Kotak Mahindra Bank, could be eyeing merger and acquisition (M&A) opportunities in the wake of coronavirus. Bosch said the impact of lockdown on supply chain for India's manufacturing sector has been bigger than in other countries which makes it less likely for the country to directly benefit from China's manufacturing slump. Read for more top stories from the world of business and economy:
The banks such as Bank of Baroda and IDBI Bank have announced that 65 per cent of their loan book is under moratorium. The private banks have seen one third of their book in terms of value under moratorium.
New money that Kotak has raised kills many birds with one stone; first, equity dilution helps him reduce stake to meet regulatory requirement of 26 per cent by August; second, additional capital strengthens private bank's balance sheet at a time when there's fear of unknown.
In the wake of the coronavirus pandemic, countries across the world are looking at decoupling from China and the entire global supply chain developed over decades is being realigned.
Abu Dhabi-based sovereign investor Mubadala is the latest investor that has invested Rs 9,093 crore in Reliance Jio platforms, translating into 1.85% equity stake on a fully diluted basis.
The CRISIL report stated that discoms would face a double whammy of high costs and constrained cash inflows, amid declining demand which means the cash losses this fiscal may almost double to Rs 58,000 crore over last fiscal.