Page 6 - Debt

UV Asset Reconstruction Company submits bid to buy IFIN's bad loans

Sale to help IL&FS clean its financial services arm book

Poor countries' debt rose 12% to record $860 bn in 2020: World Bank

The World Bank has called for urgent efforts to reduce debt levels

Tata Sons wins bid: Air India may see turnaround as debt eases by 75%

Air India reported an operating profit of Rs 1,787 crore in FY20 on a consolidated basis but reported a net loss of Rs 7427 crore due to interest and depreciation costs

White House warns of a global financial crisis on debt default: Report

The potential for global recession could be worse than the 2008 GFC : Report

Easing burden: Amount borrowed by non-financial firms fell 5.6% in FY21

The numbers also suggest a big jump in India Inc's cash pile or cash reserves

J&K Bank gets shareholders' nod to raise up to Rs 2,000 cr via equity, debt

Jammu and Kashmir Bank on Friday said it has received shareholders' nod to raise up to Rs 2,000 crore through equity and debt to fund its business. The shareholders at the annual general meeting on Friday approved the plan to raise equity and debt capital of up to Rs 1,000 crore each. They approved raising of equity capital of up to Rs 1,000 crore in one or more tranches by way of rights issue/preferential allotment/private placement or qualified institutional placement (QIP) or any other approved mode, the bank said in a regulatory filing. Also, shareholders approved raising up to Rs 1,000 crore by issuing Basel III compliant tier-II bonds in the nature of non-convertible debentures on a private placement basis. Shareholders also cleared the appointment of Nitishwar Kumar and Mohmad Ishaq Wani as directors.

India's external debt at $571.3 bn at June-end, up $1.6 bn from March: RBI

India's external debt stood at $571.3 billion at end-June, recording an increase of $1.6 billion over its level at the end of March 2021, the RBI said on Thursday

State Bank of India explores ways to debt finance start ups

State Bank of India on Wednesday said it is trying to work out a way to debt finance start ups as current rules allow banks to fund only profitable companies. Start ups raise equity fund to run their business and promoters are forced to dilute stake as debt funding is not available for the sector because they are loss making in the initial years, a senior official of the bank said. We are struggling to debt fund start ups. Bank norms and rules allow debt funding to profitable ones. As initially startups are loss making, they are to be funded based on the viability of the idea only. We are trying a way out, SBI Managing Director - International Banking, Technology & Subsidiaries, Ashwini Kumar Tewari said at the annual general meeting of The Bengal Chamber. He said the bank was doing equity funding through a subsidiary SBI Ventures and recognized that the country needs to support the start up culture. The number of government recognized start ups under the 'Startup India' ...

Crisil upgrades Bharti Airtel debt programme rating to AA+, stable outlook

Crisil Rating on Tuesday said it has upgraded the long term rating on the bank facilities and debt programme of Bharti Airtel to AA+ with a stable outlook

Households in southern states more indebted than rest of India: Report

Among the major states, the lowest proportion of indebted households in rural areas were in Uttarakhand, and in urban areas in Chhattisgarh

HDFC sells part of invoked shares of Ansal Housing to recover dues

Housing Development Finance Corporation Ltd (HDFC) on Saturday said it has sold a part of the shares, invoked by it of Ansal Housing, to recover its dues. In August, HDFC had invoked 46,20,000 shares of Ansal Housing Limited (Ansal) aggregating 7.78 per cent of the paid-up share capital, for recovery of part outstanding dues against loans availed by pledgers/borrowers. "In this connection, we wish to inform you that out of this, the Corporation has in aggregate sold 12,67,504 shares, representing 2.13 per cent of the paid-up share capital of Ansal, including 1,57,939 shares representing 0.27 per cent of the paid-up share capital of Ansal which were sold on September 24, 2021," HDFC said in a regulatory filing.

China's debt-ridden Evergrande Group says it will make bond payment

The Chinese government, meanwhile, kept investors guessing about whether it might intervene.

China's realty giant warns of defaulting on $305-billion debt

The government is assembling accounting and legal experts to assess the finances of Evergrande, a potential precursor to a restructuring of the world's most indebted developer

Vedanta Resources reduces net debt by $300 mn in first half of FY'22

Expects to further reduce its debt by $500 million in the second half of FY'22

China's economy threatened by a property giant's debt problems

Real estate developer Evergrande once binged on debt. Now the music has stopped, investors are panicking and experts warning of an imminent failure

Bonds beckon as equity holdings get risky after rally, say experts

With interest rates expected to rise, it may be prudent to avoid long-term options, say experts

Quality of rated debt dips in August 2021: CARE Ratings

This was a second consecutive decline as CDQI print in June was 90.01

MIAL raises Rs 7,200 cr via NCDs and foreign loans, refinances debt

The capital raise happened last month and around Rs 6,500 crore of loans owned to domestic lenders were repaid

SAIL aims at reducing net debt to Rs 15,000-20,000 crore in FY22

Steel Authority of India Ltd is aiming at reducing its net debt to a range of Rs 15,000-20,000 crore in the current fiscal if the prices and demand for the commodity remain stable

Vodafone Idea in talks to refinance over Rs 6,000 crore of its debt

Fall in 4G customers is a concern as Airtel continues to increase its share