Moody’s appreciate RBI’s new debt recast rules credit positive for SBI, IDBI
- World’s top Rating agency Moody’s said the central bank’s new rules for strategic debt restructuring can help Indian banks significantly improve their ability to resolve troubled corporate loans.
- Bank with large corporate exposures are expected to benefit, it said, specially mentioning country’s largest public sector bank State Bank of India and IDBI.
- The RBI guidelines allow banks to acquire majority equity stakes in corporates that are unable to honour their debt commitments. Acquiring a majority stake would also make it easier for the banks to install a new company management.
Sudanese president in centre of attention at African Union Summit
- President Omar al-Bashir has evaded arrest for years — but might now be facing the toughest test to avoid justice at the International Criminal Court.
- A South African judge has barred Omar Bashir from leaving the country — where the president has been attending an African Union summit
- pending a hearing on whether to hand him over to the ICC. While the hearing will be held later Monday, the Sudanese presidency stressed Bashir would be heading home.
- The international court issued one arrest warrant against Bashir in 2009 and another in 2010 for genocide, crimes against humanity and war crimes over atrocities in Darfur.
Buckingham Palace gather to celebrate Magna Carta
- The British royal family on Monday will lead commemorations to mark the 800th anniversary of Magna Carta.
- Magna Carta is a document that has come to symbolize democracy and equal rights under law, along with a spectacular ceremony in front of an audience of thousands.
- Eight hundred years ago, things were less jovial for Queen Elizabeth II’s predecessor here in a leafy green meadow called Runnymede, about 20 miles west of London, where rebellious barons met with a reluctant King John of England.
Harbhajan Singh surpasses great Wasim Akram ,become 9th Highest wicket-taker in Tests
HDFC Bank launches PayZapp for online payments & money transfer
- PayZapp is part of the bank’s digital banking offering called ‘GoDigital’, which centres around the theme of “Bank aapki muthi mein”.