Aratrika Rath, a copywriter in the wealthiest district of India’s financial capital, couldn’t be bothered to vote in the 2009 federal elections. As Mumbai headed to the polls today, she’ll be among those casting ballots.
HSBC Holdings Plc and Deutsche Bank AG are among four banks that may be replaced as arrangers for Steel Authority of India Ltd. ’s share sale after they agreed to work for a rival, Steel Minister Virbhadra Singh said.
Kotak Investment Advisors Ltd., which manages $1 billion in real estate assets, plans to raise $200 million for a private equity fund that will invest in residential properties in India’s biggest cities.
Yes Bank Ltd., the best-performing Indian bank stock last year, has lost almost half its market value in less than a month on investors’ concern that a record surge in interest rates will erode profits and boost defaults.
Billionaire Uday Kotak, the controlling shareholder of the Indian bank with the highest lending margins, said rising bad loans will pose challenges this year to lenders in Asia’s third-largest economy.