Wed, Oct 18, 2023 11:25 AM
LTTS shares fall nearly 4% as company lowers FY24 revenue guidance
A Flip by Shubhangi Gupta
Indian Overseas Bank (IOB) has put on sale 92 bad loan accounts totalling ₹13,472 crore, including Videocon Industries (₹900 crore), Frost International (₹839 crore) and Rotomac Global (₹750 crore), for a reserve price of over ₹4,000 crore. The sale is the Chennai-based bank's attempt to explore other avenues for recovery.
Open Flip
For the first time in nearly a generation, fixed income is living up to its name. This, at a certain level, is simply the consequence of benchmark rates in the US jumping from 0% to over 5% in a span of two years. But at a time when all of Wall Street seems fixated on whether the Federal Reserve will actually cut interest rates this year.
Open Flip
Tinkering with the interest rate alone may not help with the repayment ability of home loan borrowers, according to a research paper supported by the Reserve Bank of India. Prudential measures like risk weights and loan-to-value adjustments, along with interest rates, will be more effective in repayments of loans. This will also help in housing credit growth and controlling the asset quality.
Open Flip
