Bloomberg IDBI Bank Ltd’s chief executive officer (CEO) said the lender is likely to recoup 195 billion rupees ($2.4 billion) on soured debt in his pitch to potential buyers amid India’s planned auction of the firm. “We are sitting on about 780 billion rupees of fully provided for bad loans, including written-off loans, and around 25% is likely to ...

  Bloomberg Morgan Stanley’s stock short selling practices are being inspected by South Korea as part of a broader effort by the nation’s financial watchdog to clamp down on bets against equities. The Financial Supervisory Service (FSS) also plans to examine Bank of America Merrill Lynch over how it conducts stock short sales. Morgan Stanley was picked due to the ...

  Bloomberg The bolivar is plummeting, breaking a rare stretch of stability for Venezuela’s battered currency. It has lost a third of its value so far this month, hitting 9.08 bolivars per US dollar on the parallel exchange market, according to data compiled by Bloomberg. That’s the steepest monthly decline since January 2021. Controlling the exchange rate has been a ...