ICRA downgrades IDBI Banks various debt instruments
The Dollar Business Bureau Credit Rating agency ICRA has downgraded IDBI Bank’s various debt instruments, in the backdrop of weak financial results of the bank in the third quarter of the current fiscal. The October-December quarter result of the IDBI Bank has resulted in a considerable erosion of its common equity tier I (CET 1). In order to stay afloat, the Bank would need capital infusion of Rs.9500 – Rs.10,000 crore by the end of 2016-17. Last week, IDBI Bank’s board members held a meeting to consider a plan to sell its non-core assets to raise capital for the bank. Meanwhile, the government which owns 74% stake in the bank is expected to infuse about Rs.3000 crore. ICRA downgraded ratings for IDBI Bank’s Rs.25,742.72 crore ...
GOI appoints Debasish Mallick, David Rasquinha as Exim Bank Deputy Managing Directors
Jayashankar Menon | @TheDollarBiz The government of India has appointed Debasish Mallick and David Rasquinha as Deputy Managing Directors of the Export-Import Bank of India (Exim Bank). Rasquinha was earlier serving the bank as Executive Director, while Mallick was the Managing Director and CEO of IDBI Asset Management Company (AMC). Rasquinha joined the Exim Bank in 1985 and has experience different fields such as export credit, treasury, multilateral agency funded projects, planning and research, risk management, trade finance, project finance and project exports. Rasquinha has contributed in studies on export credit agency for the Gulf Co-operation Council countries and was a member on the Working Group set up by Reserve Bank of India for working capital finance to software units. Rasquinha has also ...
