Bank of India has raised ₹5,000 crore through the issuance of infrastructure bonds, with the state-owned lender receiving bids far in excess of the notified amount for the debt sale. On Thursday, Bank of India sold 10-year infrastructure bonds for a total of ₹5,000 crore at a rate of interest of 7.54%, the lender informed … Read more
Vivek Kumar Dewangan, CMD, REC, says he would like to make a distinction between non-banking finance companies like REC which have been following the IndAS norms. As per RBI’s income recognition and asset classification norms, this additional provisioning on account of under construction projects is not to be routed through profit and loss account. In … Read more
Synopsis While they have been in work for quite some time, yesterday, RBI released the guidelines for small finance banks to turn themselves into universal banks. While most of the guidelines are not something these banks cannot follow, but one where some of them would face issues but only for short term would be the … Read more
