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Biz EOD: NPA meter to start ticking soon; Uday Kotak on hunt for M&As; China's loss not India's gain

Catch top stories from the world of business and economy with BusinessToday.In's Biz EOD report

twitter-logoBusinessToday.In | June 6, 2020 | Updated 00:18 IST
Biz EOD: NPA meter to start ticking soon; Uday Kotak on hunt for M&As; China's loss not India's gain
Top stories from the world of business and economy

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:

1. NPA meter for moratorium loans to start ticking from September

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.

2. Is billionaire Uday Kotak on a hunt for M&As in a post-COVID world?

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.

3. Is China's loss India's gain? Unlikely, says Bosch

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.

4. Reliance Jio stake sale: Mukesh Ambani's telco raises Rs 87,655 crore in 6 weeks

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.

5. Coronavirus fallout: Cash-starved power discoms' debt to hit record Rs 4.5 lakh crore

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.

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