From the research that you have done on our industry, how does Barclays differentiate itself from our competitors?

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In the three months ended 30 June, banks restructured the debt of 12 companies, totalling Rs.20,000 crore. This included the restructuring of Rs.13,500 crore of debt of engineering and construction firm Gammon India Ltd and Rs.3,000 crore of debt of logistics company Arshiya International Ltd. In Gammon’s case, the banks agreed to stretch the loan repayment period to 10 years and to a moratorium of two years. They also agreed to a 1-2 percentage point reduction in the interest rate to 11-12%. In the three months ended 31 March, banks restructured around Rs.15,000 crore of debt. The pace of restructuring has clearly increased even as companies are now required to make provisions for such loans. Under new RBI rules, banks need to set aside 5% of the fresh restructured loans as provisions. If loans turn bad, the provisioning goes up to at least 15%. Higher provisioning affects the profitability of banks. In 2012-13, banks restructured Rs.75,000 crore of loans under the CDR mechanism, nearly double what they did in 2011-12. Analysts estimate that between a fifth and a fourth of such restructured loans turn bad. “There is definitely a concern,” said Arun Kaul, chairman and managing director of Kolkata-based state-run lender UCO Bank. “That is the reason why the Reserve Bank of India has increased the provisioning for restructured loans, but it is incorrect to believe that all of the restructured loans are going to turn bad.” Like many of his colleagues in the industry, Kaul too is optimistic about an improvement once the economy starts growing faster.(Reuters) - The rupee gained for a second straight session to touch its highest level in nearly a week on Thursday as foreign banks sold dollars in the spot market while squaring off their long dollar positions in the offshore non-deliverable forwards.

Traders said the large selling seen from foreign banks over the last couple of days was mainly due to offshore flows with banks preferring to not roll-over their long...
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