|Chennai||Rs. 27580.00 (0.18%)|
|Mumbai||Rs. 28700.00 (0%)|
|Delhi||Rs. 27700.00 (0.73%)|
|Kolkata||Rs. 28270.00 (0%)|
|Kerala||Rs. 27050.00 (0.74%)|
|Bangalore||Rs. 27350.00 (1.11%)|
|Hyderabad||Rs. 27660.00 (1.21%)|
The European Union has approved state guarantees worth €18 billion ($24 billion) for an ailing French real estate bank on condition Paris presents a plan to restructure or close it within six months.
The EU Commission's anti-trust regulator said Thursday the guarantee for Credit Immobilier de France is necessary to avoid major disruption in the French banking system as a whole.
It said the state guarantee is necessary to cover the real estate lender's urgent liquidity needs and to give it time to draw up a restructuring or orderly resolution plan.
French authorities bailed out CIF after it ran into a funding crunch following rating downgrades last year.