Punjab National Bank accounts for a staggering 13.2% of the total amount owed to public sector banks by wilful defaulters. As per PTI reports, the bank had 1,120 wilful defaulters having outstanding non-performing assets (NPAs) or bad loans of Rs 12,278 crore in FY 2016-17. These numbers may be jaw dropping, but that has not deterred the Punjab National Bank’s stock to post returns of 23% in the year so far. This is despite the recent correction which has caused the stock to shed more than 8% in the last one month.

MUMBAI: Three creditors of Reliance Communications and Aircel could challenge the dismissal of their right to call for a lenders’ meeting by the National Company Law Tribunal (NCLT) in the National Company Law Appellate Tribunal (NCLAT), people familiar with the matter said.

The key operational creditors — those who have dues because they provide a service, not because they lent money — are Ericsson, GTL Infrastructure, and Bharti Infratel.

In the past few weeks, two major themes have played out in markets. Firstly, trend toward monetary policy normalisation among developed countries. Secondly, the geo-political tensions on the Korean peninsula, following new UN sanctions on North Korea.

Markets now parse every policy maker-speak and economic data release to gauge influence on the slowing of ECB asset purchases, reduction of the US Federal Reserve (Fed)’s balance-sheet size among others.

After two failed attempts, Air India is back with its plan to auction some of its prime properties in Mumbai. The properties being re-auctioned are worth Rs 299.7 crore with the carrier increasing prices of the flats and hiring a marketing firm.

The 14-flat building in Bandra, which was being sold at Rs 122 crore in the last auction in July, is now priced at Rs 200 crore. Similarly, prices of other flats have also gone up including those in Malad. Flats which were priced at Rs 85 lakh are now close to Rs 1 crore.

State-run Bharat Petroleum Corporation Ltd (BPCL) is set to invest at least Rs 18,000 crore on expansion of its refineries in the next five years, in order to add another 19 million tonne (mt) refining capacity.

This will be part of the company’s overall road map to spend Rs 1.08 lakh crore till 2021-22. “Including our subsidiaries, our refining capacity is somewhere about 31 mt, we are planning to move closer to 50 mt by somewhere around 2022. This will see an investment of approximately about Rs 18,000 crore,” D Rajkumar, chairman and managing director of BPCL, told Business Standard.

MUMBAI (Reuters) - State-run banks will need more capital to resolve bad loan problems weighing on their balance sheets, Reserve Bank of India Governor Urjit Patel said on Saturday, adding his voice to calls for increased capital injections into lenders.

More than $150 billion of bad debt is crimping credit growth in Asia's third-largest economy and the government and central bank have been trying to ease the burden on state-run lenders.

New Delhi: Leading bourses BSE and NSE will suspend trading in the shares of United Breweries (Holdings) Ltd from 8 September while the entire promoter shareholding has been frozen with immediate effect.

Fugitive liquor baron Vijay Mallya is a promoter of UBHL.

New Delhi: Securities and Exchange Board of India (Sebi) will defreeze the bank accounts of National Spot Exchange Ltd (NSEL)’s former CEO Anjani Sinha and Multi Commodity Exchange (MCX)’s ex-chief Joseph Massey which were frozen by the regulator in an alleged insider trading case.

The markets regulator informed the Securities Appellate Tribunal (SAT) about the decision to defreeze the bank accounts immediately when the tribunal was hearing the pleas filed by the two individuals against the Sebi order.

Indore: State Bank of India (SBI) has realised Rs235.06 crore as penalty from 388.74 lakh accounts for not maintaining monthly average balance in the first quarter of the current fiscal, an RTI query has revealed.

“An amount of Rs235.06 crore has been realised from our 388.74 lakh accounts which did not maintain monthly average balance in the first quarter ended 30 June,” SBI said in its reply to an application filed by Neemuch-based RTI activist Chandrashekhar Gaud.

DLF’s Q1FY18 residential new sales were severely impacted as beginning May 2017 it had halted sales across projects citing RERA compliance. While sales should pick up in coming quarters, we expect slow pace until demand improves in Gurgaon market and/or DLF launches new inventory. We envisage meaningful rental uptick only post FY19 when ongoing rental assets become operational. We, hence, perceive limited earnings scale-up visibility. Deleveraging hinges on GIC deal valuation. Maintain Hold.

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