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Business Standard
27-05-2025
- Business
- Business Standard
To pay additional interest to bond holders for CAR breach period: UGRO
On May 20th, 2025, UGRO has announced a capital raise of more than Rs. 1300 crore which would increase its capital adequacy from current 19.4 percent to 29.4 percent Anupreksha Jain Mumbai Listen to This Article UGRO Capital will pay additional interest to bondholders for breaching covenants related to the capital adequacy ratio, the company said in a response to Business Standard. The non-banking finance company has requested a relaxation of the capital adequacy covenant, for which the trustee has written to bondholders. 'Trustees have called a bondholders' meeting on 23 May 2025 as per the guidelines, and in the said meeting, the company requested a waiver of the condition, keeping in view the likely completion of the fund raise by July 2025,' UGRO said. 'In terms of the trust deed, and as discussed in the
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Business Standard
28-04-2025
- Business
- Business Standard
Central Bank of India's net profit rises 28% on non-core income growth
NII falls 4% as rise in yield on advances; margins contract Anupreksha Jain Mumbai Listen to This Article State-owned Central Bank of India posted a 28.13 per cent year-on-year (Y-o-Y) rise in its profit for the quarter ended March, at Rs 1,033.6 crore compared to Rs 807.3 crore a year earlier, on the back of a rise in non-interest income and a fall in provisions. Non-interest income rose 33.19 per cent to Rs 1,814 crore, with fee income growing 34.16 per cent to Rs 597 crore and treasury income rising by 12.05 per cent to Rs 409 crore. A fall in provisions from Rs 1,257 crore to Rs 807 crore on a Y-o-Y basis also aided the bank's
