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After two years, Uday Kotak now says note ban was poorly executed

Monday, December 10, 2018, 7:54 AM

The outcome of controversial demonetisation drive would have been "significantly better" if "simple things" like introducing Rs.2,000 currency notes were avoided, banker Uday Kotak has said. The executive vice chairman and managing director of the fourth-largest private sector lender Kotak Mahindra Bank has also said small businesses are in a difficult situation at present and has welcomed the government focus to revive the sector.
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Government may sell IL&FS outright

Tuesday, October 30, 2018, 3:22 PM

The government is examining options including an outright sale of Infrastructure Leasing & Financial Services Ltd., a person with knowledge of the matter said, as the government tries to stem defaults at the lender with $12.6 billion of debt. Other options include splitting businesses according to verticals and disposing them off to several buyers or injecting liquidity at group-level to avoid an outright sale.
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IL&FS wants a government bailout, Lehman style

Monday, October 22, 2018, 10:26 AM

The Union-Government may have to bailout cash-strapped IL&FS, if latest discussions between group's board and government are any indication, according to 3-people familiar with the development. This has been necessitated following failed attempts by company to raise Rs.4,500Cr through a rights issue. If the government does heed the appeal from IL&FS, this would be its 2nd-intervention in company after having recently superseded the board.

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