DBS BANK INDIA
Tata Communications closes maiden sustainability loan of $250 million from ANZ, DBS Bank and EDC
Tata's $250 million loan is linked to its progress on its carbon emission reduction, with the interest rate margin of the loan set to be adjusted based on these targets and the company's performance. "Such short-term targets, creating a link between the cost of banking facilities and progress achieved on key environmental milestones, are consistent with the company’s longer-term ambitions," a release from Tata Communications said
RBI holds rates amid food inflation fears
The Reserve Bank of India (RBI) kept policy interest rates unchanged for the eighth consecutive meeting due to concerns about rising food prices. The central bank raised its economic growth forecast for FY25 to 7.2% from 7%, driven by state investments and broad-based consumption. Despite inflation worries, the repo rate remains at 6.5%. A divide in the Monetary Policy Committee emerged, with two members favoring a rate cut. Equity indices surged, but bond yields rose slightly. Governor Das emphasized India's independent monetary policy stance.
RBI maintains interest rates amid growing calls for easier money policy
The Reserve Bank of India (RBI) kept interest rates unchanged in its eighth consecutive meeting, with some members leaning towards easing monetary policy due to concerns about rising food prices. The central bank raised its FY25 growth forecast by 20 basis points to 7.2%, leading to a surge in equity indices. Inflation remains a concern due to global commodity price increases and potential food price spikes.
'Acche din' to continue for FD investors as high fixed deposit interest rates will not drop soon: All eyes on RBI MPC on June 7
The Reserve Bank of India (RBI) will likely keep the repo rate unchanged in the upcoming monetary policy committee review. The question now is how long will the high-FD rate regime continue. Also, what should be the best strategy for your short-term and long-term fixed deposits? ET Wealth Online spoke to experts and here's all you need to know.
Shriram Finance raises USD 468-mn multi-currency social loan
Shriram Finance Limited raised USD 468 million in multi-currency for business growth through a social loan structured by leading banks, marking the largest syndicated transaction by a private NBFC.
RBI unlikely to cut rates; Sustained vigil on inflation expected
RBI to hold rates on strong GDP growth. Inflation within target range but food inflation high. RBI cautious on weather impact.
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S&P Global will likely raise India's rating within 2 years, Citi says
Citi anticipates S&P Global Ratings will upgrade India's sovereign rating by late 2026, following S&P's recent outlook improvement to 'positive' from 'stable'. Citi cites S&P's confidence in India's economic fundamentals and fiscal trajectory. India's fiscal health, aiming to reduce its deficit, is key to the potential upgrade.
Latest bank charges to send money abroad: SBI, HDFC Bank, ICICI Bank, Axis Bank, IDFC FIRST Bank, DBS Bank India
It means that as per the RBI rules, one can transfer of money up to USD 250,000 per calendar year for defined purposes. However, fees per transaction differ depending on the bank. Here is a comparison of the latest top banks’ charges for sending money abroad.
Rupee bonds likely to outperform US and other developed markets
"Vis-a-vis, the rest of the world, the earlier story of a regular rupee depreciation will start to dissipate. While we are going to be a function of global markets, the rupee bonds will actually outperform the US and the rest of the developed markets," Ashhish Vaidya, head, treasury & markets, DBS Bank India, told ET.
Up to 8.6% interest rate: Find out best interest rates offered on senior citizen FDs
Fixed deposit: Senior citizens can get up to 8.6% interest rate on bank FDs. For a senior citizen investing in FDs are lucrative for two reasons-slightly higher interest rate than general citizens, and a higher threshold limit for tax deducted at source (TDS). Read here to find out the highest FD rates for senior citizens.
DBS Bank India rolls out initiative to support women re-entering the workplace
The organisation has developed a six-month internship programme wherein shortlisted returnees will engage in projects and receive guidance from industry leaders within a supportive environment to enable a smoother transition back to work. The programme involves hands-on experience as well.
Muthoot Finance raises $650 million via offshore dollar bonds
The non-banking financial company raised the funds through bonds maturing in three years and nine months at a coupon rate – or rate of interest – of 7.125%. The funds will be used for onward lending and other activities that are allowed under the Reserve Bank of India’s external commercial borrowing guidelines.
View: The Indian banks' tech you love is a banana peel for RBI battling potential scams
The Indian financial system, recovering from a history of bad loans, faces new challenges as banks grapple with technology pitfalls. Kotak Mahindra Bank Ltd. was recently penalised for security deficiencies, highlighting broader risks of fraud and system vulnerabilities in the digital age. Regulatory scrutiny intensifies amid concerns about financial stability and cybersecurity in the evolving landscape of digitisation.
A HC ruling raises hopes of recovery for LVB bondholders
The tier-2 bonds have a loss absorbency feature, which means that if a bank fails, its tier-2 bondholders will absorb any losses ahead of its depositors. LVB had reported about ₹3,000 crore in accumulated losses, one-fourth of its loan book had turned sour, and tier-1 capital had turned negative.
Kotak Bank reveals how Indian banks fail to keep up with Modi's ambitions
Kotak Mahindra Bank Credit Card & Mobile Banking Curbs: Prime Minister Narendra Modi aims to export India's digital payments system worldwide, but faces obstacles as Indian banks struggle with outdated technology. Despite massive investments in tech to boost financial inclusion, banks are grappling with system glitches and cyber threats. The government urges modernization to safeguard the financial system and customer data.
RBI action on Kotak Mahindra Bank may restrain credit growth, profitability: S&P
S&P Global Ratings warned that RBI's recent regulatory action on Kotak Mahindra Bank could limit the bank's credit growth and profitability. The RBI prohibited Kotak Mahindra Bank from issuing new credit cards and onboarding customers online, impacting a key growth segment. S&P noted the bank may need to rely more on physical branch expansion, increasing operating costs. However, the impact on the bank's credit rating is expected to be minimal, as credit cards constitute a small portion of its total loans. S&P anticipates that Kotak Mahindra Bank may need around a year to address the RBI's concerns related to system stability and disaster recovery.
Madras HC orders RBI to conduct comprehensive asset valuations for DBS and Lakshmi Vilas Bank
Madras High Court has directed RBI to reevaluate DBS Bank India and LVB pre-amalgamation, influencing share value/write-off decisions within four months, in response to bondholders' suit, highlighting transparency and fairness for stakeholders.
JSW Steel raises $900-million loan from eight foreign banks
India's largest alloy manufacturer, JSW Steel, has raised $900 million from a consortium of eight foreign banks to refinance debt maturing this month and pre-pay high-cost borrowings. The loan was priced 180 basis points above the international secured overnight financing rate (SOFR). The consortium of banks includes Singapore's DBS Bank, France's BNP Paribas, UK-based HSBC and Standard Chartered, UAE's Mashreq Bank and First Abu Dhabi Bank, Japan's Sumitomo Mitsui Banking Corp (SMBC) and Taiwan's CTBC Bank.
HDFC Credila raises USD 100 mn through ECB route for loan book expansion
DBS Bank's IFSC banking unit in Gujarat International Finance Tec-City (GIFT City) said in a statement that it led the syndicated loan. The funds will be used for growing the retail education loan franchise, it said.
Ola Electric raises $50 million in debt financing from EvolutionX Cap
Ola Electric Mobility raised Rs 410 crore from EvolutionX Debt Capital, supported by DBS and Temasek. Founder Bhavish Aggarwal is pitching the IPO to global investors, aiming for a $7-8 billion valuation.
Tata Capital raises $200 million via overseas term loans
The company has the flexibility to price the loan 120 basis points above the one-month, three-month or six-month Secured Overnight Financing Rate (SOFR), in line with the market movement. The loan is part of the company's regular borrowing programme. One basis point is 0.01 percentage point.
DBS Bank India announces $250 million lending support for start-ups, ‘new economy’ companies
The Indian start-up sector has seen significant expansion over the years with over 90,000 start-ups and more than 100 unicorns as of 2024.
DBS looks to be a banker to startups
DBS Bank is considering several startups including in healthcare, technology, and firms using Artificial intelligence (AI) in financial services such as insurance; transportation, logistics and retail, waste management companies and supply chain logistics spaces, Verma said.
The perception of gender pay gap and bias seen rising with affluence
The second report from the 'Women and Finance' study by DBS Bank India and CRISIL reveals that 23% of salaried women in Indian metros perceive a gender pay gap, while 16% report experiencing gender bias at work. Affluent women show a higher perception of the gender pay gap and bias compared to semi-affluent women.
DBS will anchor PCBL's Rs 700-crore issue to finance Aquapharm buy
Stock exchange-listed PCBL Ltd announced the acquisition of Aquapharm Chemicals Pvt Ltd last November for Rs 3,800 crore. It informed the exchanges that the acquisition would be done through a wholly owned subsidiary company, Advaya Chemicals Industries Ltd, which was incorporated on January 11.
SMBC picks Sandeep Chopra to head India corporate coverage
Sumitomo Mitsui Banking Corporation (SMBC) has appointed Sandeep Chopra as its head of corporate clients in India. Chopra, a 30-year-old corporate banker, will be based in Mumbai and will report to SMBC's chief business officer, Rakesh Garg. SMBC, one of the largest Japanese banks, plans to focus on the Asia Pacific region, with India being crucial for its growth strategy.
DBS India's ESG push taps collaborative finance
Providing an insight into DBS Bank India's renewable thrust into financing for the small and medium enterprises sector, Rajat Verma, head of institutional banking, DBS Bank India, cited the need for suppliers to benefit from this type of financing. He also stressed on the focus areas for the lender.
DBS India puts ₹437-cr bad loans on the block, seeks all-cash bids
DBS India has invited bids for a counter bid for the portfolio of the NPAs, which should be at a minimum of 5% markup on the base price. The bank will hold the Swiss challenge on November 7, according to the bid document.
Canara Bank prepares subsidiary for credit card business
Canara Bank is making a strategic move by converting its subsidiary, Canbank Computer Services, into a dedicated credit card unit. This transformation aims to extract greater value from the unsecured line of business, following in the footsteps of financial institutions like SBI Cards and BoB Cards.
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