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Business Standard
19 hours ago
- Business
- Business Standard
LIC's entry into bond FRA market likely to boost long-term G-Secs
With deals across 10 major banks, the insurer's move is expected to spur demand for long-term government securities while narrowing forward spreads for other players Subrata Panda Mumbai Listen to This Article State-owned Life Insurance Corporation of India (LIC) has entered the forward rate agreements (FRAs) market through deals with 10 major banks, both domestic and foreign. Market participants said LIC's entry into the bond FRA segment is likely to spur demand for long-term government securities. But it may narrow forward spreads, thereby impacting profitability of other market players. 'We have deepened our exposure in the quarter (Q1FY26) to FRAs. We have crossed more than 10 banks, including Indian banks. For the time being, we will continue with FRAs,' LIC's management said in a post-earnings' call last week. The insurer added that
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Business Standard
18-07-2025
- Business
- Business Standard
After record issuances in FY25, infrastructure bonds lose their sheen
Infrastructure bonds, which were popular in FY25, have lost their appeal in FY26 as banks face stronger deposit growth and moderated credit demand, with issuances expected to be much lower this year Subrata Panda Mumbai Listen to This Article Infrastructure bonds, which were the flavour of the season in FY25 for commercial banks to raise funds through the domestic debt capital market amid lagging deposit growth, seem to have lost their sheen in the current financial year (FY26). So far in FY26, no bank has tapped the domestic debt capital market to raise funds via infrastructure bonds, and the expectation is that the amount raised through this route will be significantly lower than last year, unless credit demand picks up. According to data from rating agency ICRA, banks—state-owned and private-sector lenders—raised Rs 94,490 crore through infrastructure bonds in FY25.
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Business Standard
13-07-2025
- Business
- Business Standard
Over 20 NPAs with ₹500 crore outstanding on sale by Punjab & Sind Bank, IoB
Punjab & Sind Bank and Indian Overseas Bank have put up over 20 non-performing accounts (NPAs) for sale, with a total principal outstanding of ₹500 crore, via a Swiss challenge auction Subrata Panda Mumbai Listen to This Article State-owned Punjab & Sind Bank has put up for sale thirteen non-performing accounts (NPAs) with a total principal outstanding of ₹347 crore and has invited expressions of interest (EoIs) from asset reconstruction companies (ARCs) and other interested buyers for a 100 per cent cash deal through a Swiss challenge auction. Interestingly, the bank has set a reserve price of ₹364.58 crore, which exceeds the total principal outstanding of all the accounts, potentially enabling higher recoveries than the dues. Some of the larger accounts among the thirteen on the block include Pioneer Gas Power, with a principal outstanding of ₹96.42 crore
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Business Standard
30-06-2025
- Business
- Business Standard
Grace under fire: RBI represents a crisis manager's balancing acts
Since 1991, RBI has played key role in averting crises that posed a threat to India's economy premium Subrata Panda Mumbai Listen to This Article The Indian economy has weathered several storms over the last 40 years, both external and internal. Dust lifted by such gales didn't last long as the country's central bank, the Reserve Bank of India (RBI), acted swiftly and performed a fine balancing act — spurring growth and keeping inflation in check. Established on April 1, 1935, and nationalised in 1949, the RBI is responsible for issuing and regulating currency, formulating and implementing monetary policy, and maintaining price stability in the economy. It also plays a key role in supervising the country's financial system and serves as the regulator of the
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Business Standard
22-05-2025
- Business
- Business Standard
MSME delinquencies fall to 5-year low of 1.8%: Cibil-Sidbi report
Delinquency levels in the MSME sector fall to 1.79% in March 2025 as credit rises 13% YoY to ₹35.2 trillion, with private banks showing the best performing loan book Subrata Panda Mumbai Listen to This Article Overall balance-level delinquencies in the micro, small and medium enterprises (MSME) segment fell to a five-year low of 1.79 per cent as of March 2025, down 35 basis points (bps) from last year, even as the commercial credit portfolio for MSMEs rose 13 per cent year-on-year (YoY) to ₹35.2 trillion during this period, according to TransUnion Cibil and Sidbi's MSME Pulse report. 'The overall balance-level delinquencies (measured as 90 to 720 days past due and reported as 'Sub-standard') improved to 1.79 per cent in March 2025, a 35 bps drop compared to March 2024. This improvement has been driven by
