Daily Archives: April 1, 2019
Troubled Jet Airways missed a $109 million loan repayment due to HSBC Bank this week, people with knowledge of the matter said. The money was due on March 28, and was part of a two-tranche facility totaling $140 million that the company took from HSBC in 2014, according to the people, who asked not to be identified because the details are private.
Under this newly launched liquidity infusion mechanism, banks sell dollars to the RBI and get rupee funds from it with the guarantee that the same bank will take back the dollars after three years, which is called the closure date of the swap process. So, in effect, banks get rupee funds at a time when they are short on liquidity, while the dollars that the RBI buys from the banks add up to the country’s foreign exchange (forex) reserves.
With this, Airbnb joins the league of top-tier investors in Oyo like Didi Chuxing, Grab and SoftBank, which led the series-E funding for the startup, valuing it at $5 billion. This also marks one of the first such investments where a major US-based private internet company has backed an Indian startup.
The complete integration of Dena Bank and Vijaya Bank with Bank of Baroda (BoB) is expected to take nearly 18 months. But customers will reap the benefits much earlier. BoB will provide cash deposit and withdrawal facility in all branches by May. In an interview with TOI, BoB MD & CEO PS Jayakumar speaks of what customers, employees and investors can expect.
Stan Lee may not be here to see Marvel Cinematic Universe (MCU)) complete an important milestone with the release of ‘Avengers: Endgame’, but director Joe Russo on Monday told Indian fans that being a part of the world created by the comic genius was a dream come true for him.
Kings XI Punjab’s ‘million dollar baby’ Sam Curran registered first hat-trick of the 2019 Indian Premier League (IPL) against Delhi Capitals at the Punjab Cricket Association IS Bindra Stadium in Mohali.