Bank of India Ltd (BOI.NS)
Wed, Oct 5 2016
NEW DELHI, Oct 5 India plans to transfer the central bank's responsibilities for managing public debt on behalf of the government to a new independent agency in the next two years, the finance ministry said.
MUMBAI, Oct 1 India has given State Bank of India's Arundhati Bhattacharya a one-year extension as chairman, the nation's top lender by assets said, allowing her more time to lead a clean-up of bad assets and oversee a merger of affiliates.
* Upon change in law, Bank of India has sold its 18% stake in Star Union Dai-Ichi Life Insurance Company Ltd (SUD) To Dai-Ichi Life Insurance Company Limited (DILIC).
* Rating incorporates 3-notch uplift due to Moody's assumption of bank's very high dependence on the government
(The following statement was released by the rating agency) SINGAPORE/MUMBAI, July 19 (Fitch) Fitch Ratings has assigned Bank of India a Long-Term Issuer Default Rating (IDR) of 'BBB-' and Short-Term IDR of 'F3'. The agency has also assigned the bank a Viability Rating of 'bb-', Support Rating of '2' and Support Rating Floor of 'BBB-'. The Outlook on the IDR is Stable. A full list of rating actions is at the end of this commentary. KEY RATING DRIVERS IDRS, SUPPORT RATING AND SUPPORT RATING
MUMBAI Reserve Bank of India Governor Raghuram Rajan said on Friday he is not "overly worried" about the rupee's <INR=D2> levels, on a day when Britain's vote to leave the European Union sent the currency to its lowest since May 1.
* Announcement unexpected; markets likely to open lower (Adds links to related content: graphics on India's economy and financial markets and a factbox on possible successors)
NEW DELHI, June 15 Prime Minister Narendra Modi's cabinet approved on Wednesday State Bank of India's (SBI) takeover of several subsidiaries, a government official said, in a first move to consolidate the country's struggling public sector banks.
MUMBAI/LONDON, June 8 The reappointment, or not, of India's central bank head Raghuram Rajan has caused enough of a stir to be known locally as "Rexit", a play on Britain's EU referendum, reflecting the esteem in which the governor is held at home and abroad.
* Aims to recover, upgrade 175 bln rupees of loans this year (Add quotes, details)