Rising jet fuel prices have eroded cash and inflated its total debt to 55.4 times earnings before interest and tax as of March.
Jet Airways said that its servicing all loans on time in spite of surging fuel prices.
Despite the latest reduction, Kotak’s equity ownership in the bank is unchanged at 30 percent.
“India needs fewer, better capitalized, and better run public-sector banks,” Venkatesan said in a recent interview.
Indian companies have been involved in deals worth a record $97.6 billion this year.
U.S. regulator’s queries center on alleged conflict of interest, misrepresentations in ICICI bank’s accounting.
This $1.5 billion India wager that went horribly wrong began with a tantalizing offer.
A successful deal could encourage new offerings from India’s cash-starved property firms.
Outstanding loans from banks to realty developers have been little changed at 1.8 trillion rupees for two years.
Barclays Plc is considering a return to consumer banking in India.
The government is likely to infuse $290 million into PNB to help meet dues on its perpetual bonds.
Rupee depreciation may squeeze profitability at the Indian banks as it raises their funding costs.
Deep in the jungles of eastern India lies an abandoned power plant - a warning symbol for Indian banks.
Kamal Mahajan says he’s being asked just one question: how did he make money as peers lost $4.4 billion.
Uday Kotak’s stressed asset investment unit has an ask for India’s bankruptcy regulator.
This onetime hilltop paradise is becoming for some a hell on earth.
Rising interest rates threaten to get in the way Blackstone’s India IPO plans.
ICICI Bank CEO Kochhar to Go on Leave as Allegations Probed
HDFC Bank aims to start taking investor orders within the next couple of weeks.
ICICI Bank’s board is meeting today to decide on the future of Chief Executive Officer Chanda Kochhar, sources said.
Carlsberg A/S is planning a local initial public offering of its Indian business.