Bloomberg Kotak Mahindra Bank Ltd. plans to issue as many as 65 million shares in a move that will strengthen its capital buffers and reduce the stake held by its wealthy founder. The Mumbai-based lender didn’t provide details of the pricing of the new shares in its filing on Wednesday. However, under a regulatory formula, they should be priced around ...

Bloomberg The Land and Agricultural Development Bank of South Africa is in talks with lenders after missing a loan payment and triggering an event of default, leaving its government owner liable for about $302 million of guaranteed debt. The state-owned provider of finance to the farming sector is seeking a waiver after failing to pay what it owed under the ...

Bloomberg India’s central bank may be reducing its intervention in the currency markets as volumes improve and volatility eases. The Reserve Bank of India likely sold a net $1.8 billion in the two weeks ended April 10, according to estimates by Bloomberg Economics. That follows likely sales of $7.7 billion in the spot forex market last month, which made the ...