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Banking

India’s IndusInd Bank says worst is over

MUMBAI: IndusInd Bank Ltd, which saw a fifth of its market value wiped out over the past week on concern about its creditors, says the crisis of confidence engulfing India’s financial system is fading away.

Business

Rating agencies knew of stress at India's IL&FS, but gave good ratings

MUMBAI/NEW DELHI: Credit rating agencies for years assigned high ratings to India's Infrastructure Leasing & Financial Services (IL&FS) and its group companies despite its deteriorating financial health, according to a special audit conducted by Grant Thornton India.

Business

Dewan Housing posts first loss as business grinds to a halt

MUMBAI: Beleaguered Indian shadow lender Dewan Housing Finance Corp. posted its first quarterly loss in more than a decade, missed interest payments and cast doubt on its ability to continue as a going concern.

Business

Yes Bank co-founder’s family plans stake sale

Mumbai: Indian banker Rana Kapoor’s family is planning to sell a stake in their six-year-old mortgage finance company, sources said, as rising wariness in the credit market erodes growth prospects of shadow finance firms.

Business

Shadow banking crisis raises risk of Indian bad loan redux

MUMBAI: Just as India’s banks emerge from under a pile of bad loans to large energy, steel and other industrial companies, they are facing a new reckoning from the accelerating crisis in the country’s shadow banking sector.

World

India's jobs deficit: Project in Gujarat struggling to create employment

GANDHINAGAR, India (Reuters) - (This is one of a series of stories on the difficulties the Modi administration has faced in creating jobs.)

World

India's Modi will need to hit the ground running with economy, Pakistan

NEW DELHI (Reuters) - From a shortage of job opportunities and a stuttering economy to tense ties with old foe Pakistan, Indian Prime Minister Narendra Modi will face a host of challenges after winning a big majority on Thursday.

Business

India averts full-blown shadow lender crisis

TROUBLES among India’s non-bank financiers will persist for at least a year even if the danger of a full-blown financial crisis has passed, according to the head of the nation’s most valuable bank.