Page 16 - Digi Note : 23rd-28th November (General Awareness)
P. 16
The Reserve Bank of India ( RBI) i would allow foreign portfolio
investors to invest in bonds that are in default, partly or fully, if the
residual maturity is at least three years.
This means banks which have given loans to companies in stress can
clean their balance sheet by selling these stressed assets.
The buyers of these bonds, usually foreign “vulture funds” looking for
distressed assets worldwide, can buy these at a steep discount and
then put a lot of pressure on companies to perform.
Bankers expect many of the loans to eventually get converted into
bonds and to face default.
RBIs clarification means there would be a ready market for these
bonds.
Anti-submarine corvette handed over to the Navy
Kadmatt, the second of the four indigenously built stealth Anti-
Submarine Warfare (ASW) corvette, was formally handed over to the
Navy by
Garden Reach Shipbuilders and Engineers (GRSE).
The Corvette which is named after an island in the Lakshwadeep
archipelago, has advanced stealth features is likely to be
commissioned with the Navy in January.
It can accommodate 17 officers, 106 sailors and can carry a helicopter
onboard.
The first ship of the series INS Kamorta was inducted into the Navy in
August 2014.
Corvette is a small warship designed for convoy escort duty.
INTERNET AT LIGHT SPEED
investors to invest in bonds that are in default, partly or fully, if the
residual maturity is at least three years.
This means banks which have given loans to companies in stress can
clean their balance sheet by selling these stressed assets.
The buyers of these bonds, usually foreign “vulture funds” looking for
distressed assets worldwide, can buy these at a steep discount and
then put a lot of pressure on companies to perform.
Bankers expect many of the loans to eventually get converted into
bonds and to face default.
RBIs clarification means there would be a ready market for these
bonds.
Anti-submarine corvette handed over to the Navy
Kadmatt, the second of the four indigenously built stealth Anti-
Submarine Warfare (ASW) corvette, was formally handed over to the
Navy by
Garden Reach Shipbuilders and Engineers (GRSE).
The Corvette which is named after an island in the Lakshwadeep
archipelago, has advanced stealth features is likely to be
commissioned with the Navy in January.
It can accommodate 17 officers, 106 sailors and can carry a helicopter
onboard.
The first ship of the series INS Kamorta was inducted into the Navy in
August 2014.
Corvette is a small warship designed for convoy escort duty.
INTERNET AT LIGHT SPEED
