RBI bars FII buying HDFC stock
THE Reserve Bank of India (RBI) on Monday barred further Foreign Institutional Investors (FII) buying in Housing Development Finance Corporation (HDFC) without its prior permission. The central bank said FIIs have reached the overall ceiling of 38 per cent of their total holdings in HDFC's paid-up capital.New IBA chief takes charge
Former Central Bank of India chairman and managing director K C Chowdhary will be the new chief executive and secretary of Indian Banks' Association. He succeeds the present incumbent MN Dandekar, who retires at the end of this month.
DCR rating for First Leasing
Duff & Phelps India Limited (DCR) has assigned an "Ind D-1" (Ind D One) rating to the Rs 35-crore short-term debt issue of First Leasing Finance Company (FLCI). The rating indicates very high certainty of timely repayments. The rating agency has also assigned an "Ind AAA" (Ind Triple A) rating to the Rs 10-crore fully convertable debenture (FCD) issue of FLCI, indicating the highest credit quality and negligible risk to the debenture issue.
HC bar on Jain Irrigation
The company bench of the Bombay High Court, on a winding up petition of UTI Bank, has restrained Jain Irrigation Ltd from disposing of or alienating any of its property. The current outstandings from the borrower aggregate Rs 2.87 crore.
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