Bharti Airtel shares fall on deferring AGR dues payment
Bharti Airtel has opted to defer the payment of AGR dues till FY19, while it has retained the right to pre-pay instalment amounts and not convert interest dues into equities.
Bharti Airtel has opted to defer the payment of AGR dues till FY19, while it has retained the right to pre-pay instalment amounts and not convert interest dues into equities.
The 30-day moratorium on Lakshmi Vilas Bank is similar to YES Bank, protecting depositors and employees, but retail shareholders would be worst hit if amalgamation with DBS Bank India goes through.
The credit rating agency points out that the pandemic will continue to be a spoilsport for the NBFCs it reviewed as funding remains a challenge in the current market.
Moratorium extended, banks’ group exposure increased to 30%; slew of measures to support economy affected by Covid-19.
After the change of guard at the leading private bank, its stock has witnessed 10 upper and lower circuits in the last five trading sessions.
Prashant Kumar, the bank’s administrator, echoed the words of RBI governor Shaktikanta Das that there was no cause for worry about deposits as the moratorium on withdrawals is set to end on March 18.
The government notifies reconstruction scheme with wider room for capital, four board members, and conditional lock-in for the existing shareholders.
The global rout owing to the unabated rise in coronavirus cases and the YES Bank crisis led to a decline of 1,459 points on the Sensex and 441 points on the Nifty 50.
The central bank has invited suggestions and comments from members of the public, including the banks’ shareholders, depositors, and creditors on the draft scheme till Monday (March 9).
Thursday was an eventful day for the crisis-hit lender owing to merger-related speculations, but it ended with crippling the private bank’s most unsuspecting stakeholders—its depositors.