‘Moratorium, liquidity support, and a market-based restructuring of the bank.’ That was the template the country’s banking regulator, the Reserve Bank of India (RBI), followed in the most recent collapse…
Category: Companies
After SVB failure, US acts to shore up confidence in banking system
The US administration stepped in on Sunday with a series of emergency measures to shore up confidence in the banking system after the failure of Silicon Valley Bank threatened to…
Adani Group prepays $2.15-bn share-backed financing, $500-mn bridge loan for Ambuja acquisition
Adani Group has announced that it has completed the full prepayment of margin-linked share-backed financing, amounting to USD 2.15 billion, ahead of the committed timeline of March 31, 2023. This…
Saudi Aramco reports record profit of $161.1 billion in 2022, more than Google, Amazon, Microsoft and Tesla combined
On Sunday, Saudi Arabian oil giant Aramco announced that it had recorded a net profit of $161.1 billion for 2022, a 46 per cent increase from the previous year. The…
Silicon Valley Bank fallout: Nazara Technologies’ subsidiaries hold Rs 64 crore in cash at collapsed lender
Nazara Technologies Limited, a leading gaming and sports media platform in India has released an official statement regarding the cash balances held by two of its step-down subsidiaries, Kiddopia Inc…
Govt’s HZL stake sale only after clarity on proposed global asset transfer; unlikely this fiscal
The sale of the remaining 29.54 per cent government stake in Hindustan Zinc is likely only after a finality reached on Vedanta’s planned sale of global zinc assets to the…
CFO of newly-listed winemaker Sula resigns
One of the country’s largest wineries Sula Vineyards Limited has announced that Bittu Varghese, the chief financial officer of the company has resigned. “Pursuant to Regulation 30 and other applicable…
‘Get woke, go broke’: Silicon Valley Bank’s top woman executive, LGBTQ+ activist gets targeted for lender’s failure
Silicon Valley Bank, which recently collapsed after disclosing a $1.8 billion loss, operated without a Chief Risk Officer for almost nine months between April 2022 and January 2023. The bank’s…
Who is Mohit Joshi? The man set to replace CP Gurnani as Tech Mahindra MD & CEO
Mohit Joshi, who left Infosys after working there for more than 20 years, has been appointed as MD and CEO of Tech Mahindra. He will replace C P Gurnani, the…
Silicon Valley Bank crisis: Revenue-based finance start-up GetVantage offers quick funding
At a time when many Indian start-ups may be reeling under the effects of the collapse of Silicon Valley Bank (SVB), home-grown alternative funding platform GetVantage has been quick in…