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s&p places idbi bank's rating on credit watch with negative implications




global rating agency standard and poor's has placed idbi bank's foreign currency issuer rating and unsecured debt under watch with negative implications due to uncertainty over the bank's ability to meet its regulatory capital requirement over next few months. the agency said it could lower its rati...



idbi bank to terminate all rating contracts with moody's investors services




state-owned idbi bank on tuesday said it has disengaged moody's investors services (moody's) to rate its bond programmes."upon reviewing the rating engagements with various foreign rating agencies, idbi bank has decided to terminate all the rating contracts/engagements with moody's investors service...



no impact of ownership change on debt-ridden idbi bank rating, says icra




rating agency icra on tuesday ruled out any change in ratings for ailing public sector lender idbi bank on grounds of change in ownership. any change in rating will have to wait for improvement in standalone profile of the bank. the acquisition of stake by life insurance corporation of india (lic), ...



idbi bank bucks trend in weak market; zooms 51% in one month




idbi bank hit a fresh 52-week high of rs 91.50, up 14% on the national stock exchange (nse) in intra-day trade, extending its past one month rally, after the credit rating agencies revised the upwards outlook of the bank to stable from negative. in past one month, the stock of state-owned bank has z...



pnb fraud impact: fitch, moody's place lender's rating under watch




following the revelation of the rs 114-billion fraud at punjab national bank (pnb), global rating agencies fitch and moody’s have placed the lender under watch for a possible downgrade. moody's has placed the bank's baseline credit assessment (bca) and adjusted bca of ba3 and the counterparty risk...



tipping point: what does a rating watch review mean?




what does a rating watch review mean? rating agencies like moody's, fitch, crisil and india ratings have placed the scam-hit punjab national bank (pnb) under rating watch. this means that the rating agencies will re-examine their current rating of the bank. if they find that the financial impact of ...



idbi bank: chequered past, troubled present and a stake sale at major risk




idbi bank or its predecessor, idbi, has always held a special place in the indian financial sector. way before life insurance corporation of india (lic) became the go-to company for successive governments to bail out companies, idbi performed the same function. india’s national stock exchange (nse...



ahead of lic deal, moody's places idbi bank's long-term ratings for upgrade




rating agency moody's has placed idbi bank's long-term ratings under review for upgrade following lic's intent to acquire a 51 per cent controlling stake in the ailing public-sector lender. the review would focus on the exact amount of fresh capital that life insurance corporation of india (lic) pla...



lic set to finalise turnaround strategy for debt-ridden idbi bank




life insurance corporation (lic) is set to finalise its turnaround strategy for the beleaguered state-run idbi bank. the board of directors of lic, which is meeting on monday, is likely to give its nod to the proposal to increase the insurer’s stake to 51 per cent in the bank. currently, the gover...



bse chief among those named in cbi fir for rs 6-billion loan fraud




the cbi on friday searched the residences of six former and current officials of idbi bank in connection with an alleged rs 6 billion loan fraud case in which bse chairman s ravi and the heads of two public sector banks have also been booked, officials said new delhi. the officials whose residences ...



idbi bank gets govt approval for lic's acquisition of up to 51% stake




idbi bank on wednesday said it has received approval to bring down the government stake to below 50 per cent and get acquired by insurance behemoth lic. earlier this month, the union cabinet had approved life insurance corp's proposed acquisition of up to 51 per cent stake in debt-ridden idbi bank. ...



lic board gives approval to acquire 51% stake in debt-ridden idbi bank




life insurance corporation of india (lic) came a step closer in acquiring a majority stake in the government-owned idbi bank as its board gave an approval to the deal on monday. lic’s shareholding in idbi bank will stand at 51 per cent after it takes a series of approvals from the reserve bank of ...



centre should not shirk its responsibility in idbi, says bank union




all india bank employees association (aibea) on friday said that centre should not shirk its responsibility of providing additional capital to idbi bank while burdening life insurance corporation of india (lic) to bail out loss making bank. referring to the news of lic being allowed to increase its ...



five psbs on brink of being put under rbi's prompt corrective action plan




five public sector banks (psbs), including canara and union bank of india, are on the brink of being put under the reserve bank of india’s (rbi’s) prompt corrective action (pca) plan. according to rating agency icra, their net non-performing assets (npas) rose above 6 per cent in december 2017. ...



fitch ratings places ccc rating for greek banks | business




fitch ratings announced on thursday it had placed the ccc viability ratings of national bank of greece, alpha bank, piraeus bank and eurobank on rating watch evolving (rwe).[reuters]



with no relief from sebi, lic to make open offer to idbi bank shareholders




insurance behemoth life insurance corporation (lic) of india will not be given any relaxation from the securities and exchange board of india’s (sebi’s) takeover code and will have to make an open offer to the stakeholders of state-owned idbi bank. this will be in line with the norms set by sebi...



idbi bank employees to go on strike on aug 30 against 51% stake sale to lic




employees of idbi across the country are planning to go on strike on august 30 to pressurise the government not to privatise idbi bank. all india bank employees will be supporting idbi bank employees through agitations and protests and it will be followed by a strike, threatened all india bank emplo...



idbi bank says 'no discussion' on rs 130-bn capital injection plans by lic




state-owned idbi bank on friday said no discussion has taken place with regards to capital injection of rs 130 billion in the bank by insurance major lic. clarifying on the matter, the bank informed stock exchanges, "please refer to your mail dated june 29, 2018, regarding news clarification 'lic pl...



idbi bank scouts for transaction advisor to sell stake in amc arm




public sector lender idbi bank has kicked off the process to appoint a transaction advisor to offload 25 per cent stake held by idbi capital market in mutual fund subsidiary idbi asset management company (amc). the stake sale in the amc is in addition to the ongoing work to pare stake in nsdl and in...



lic views idbi acquisition as a sound business deal, says piyush goyal




the life insurance company (lic) considers its decision to own 51 per cent in state-owned idbi bank a sound business move and a good investment opportunity, finance minister piyush goyal said on tuesday. “with the approval of lic’s board, which was of the view that the proposed acquisition is a ...



fitch assert idbi bank ratings on expectation of better core capital levels




fitch ratings has affirmed idbi bank's default and viability ratings saying that the core capital levels should improve slightly following the significant capital injection in march quarter of 2017-18. however, the outlook for asset quality and earnings of the bank remains very weak, and fitch expec...



lic may enter banking space; eyes majority stake in idbi bank




insurance behemoth lic is looking to enter the banking space by acquiring majority stake in idbi bank as the deal is expected to provide business synergies despite the lender's stressed balance sheet, sources said. as the government makes efforts to revive the fortunes of idbi bank, which is saddled...



moody's ups bank of india, union bank, oriental bank's outlook to stable




citing improved capital buffer following the massive recapitalisation, global rating agency moody's has revised upwards credit outlook on bank of india, union bank of india and oriental bank of commerce (obc) to stable from negative and also retained these state-run lenders' baa3 deposits ratings.fo...



idbi bank fraud: cbi books two bank chiefs, ex-aircel promoter sivasankaran




the central bureau of investigation (cbi) on thursday registered a case against former aircel promoter c sivasankaran and his company’s executives in an alleged rs 6-billion bank fraud case. the agency also booked 15 senior executives, current and former, of idbi bank. the list of bankers booked i...



no rbi norm flouted in loans given to d s kulkarni, say idbi, vijaya bank




idbi bank and vijaya bank today said they have exposures to pune-based real estate developer d s kulkarni, which is facing multi-agency probe for illegal fund diversions, but the loans were sanctioned in compliance with the rbi norms.idbi bank in a regulatory filing said it has an exposure of rs 471...