BANKING

Bill Winters, CEO of Standard Chartered Plc, will visit India to enhance the bank's presence and launch a global wealth campaign. He is set to meet key clients and business heads in Mumbai and New Delhi to strengthen wealth management and cross-border strategies. Standard Chartered was the leading arranger for Indian issuers' dollar bonds last year.

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BANKING

Gold loans by commercial banks surged by 68% in the first nine months of FY25 due to rising gold prices. Non-bank lenders also saw a rise in gold loan sanctions. The increase in gold prices has allowed lenders to offer higher loan amounts due to higher collateral value, enhancing lender comfort despite regulatory scrutiny on gold loan portfolios.

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BANKING

The National Financial Reporting Authority has fined auditor Neeraj Bansal Rs 5 lakh and barred him for five years due to lapses in auditing Religare Finvest Ltd for 2017-18. Violations include failure to report fraud, assess risks, verify future taxable income, question investments, and obtain sufficient audit evidence. NFRA's actions follow their investigation and show cause notice in May 2024.

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BANKING

The RBI's strict capital and investment norms might hinder the National Bank for Financing Infrastructure & Development from establishing a partial credit enhancement facility for infrastructure corporate bonds. Despite potential benefits in credit rating, the higher costs and demanded investor premiums make these instruments less viable compared to bank loans.

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BANKING

Sajjan Jindal family plans to dilute 14% of its promoter stake in JSW Infrastructure to fund a ₹39,000-crore capex over the next five years. The company, listed in September 2023, aims to maintain a 70:30 debt-to-equity ratio and utilize internal cash accruals. JSW Infra will look at acquisitions and aims for increased revenue growth and Ebitda margins.

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BANKING

Microfinance leaders anticipate the implementation of a new Grameen credit score framework to restore lending discipline following a decline in repayment culture. The proposed framework by Sitharaman aims to enhance creditworthiness among self-help groups and rural borrowers, potentially benefiting the entire sector and addressing issues of credit discipline.

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BANKING

The bold budget focuses on enhancing growth through agriculture, MSMEs, investments, and exports. It emphasizes fiscal responsibility, infrastructure development, and inclusive policies to boost productivity and employment. Reforms in tax brackets, regulatory support, and financial sector liberalization aim to strengthen India's global competitiveness and economic stability.

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