Paytm reports loss of Rs 1,490 cr in 2017-18

Revenue more than quadruples to Rs 3, 314 crore from Business Line - Money & Banking https://ift.tt/2ENDp...

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Sixth tranche of electoral bonds sale to kick off from Nov 1

SBI is the only authorised bank to issue such bonds from Business Line - Money & Banking https://ift.tt/2O4cN...

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Virtusa partners with BIAN to develop API exchange

Allows banks to reduce the complexity of building and delivering open banking capabilities from Business Line - Money & Banking https://ift.tt/2CKpN...

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‘Govts that don’t respect central bank independence, invite wrath of markets’

Our BureauGovernments that do not respect the central bank’s independence will sooner or later incur the wrath of financial markets, ignite economic f from Business Line - Money & Banking https://ift.tt/2ENqh...

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No liquidity crisis, says government official

Defaults by infrastructure development and finance company IL&FS and its subsidiaries had led to concerns of grave repercussions on the credit market, leading to a liquidity crisis. from Banking/Finance-Industry-Economic Times https://ift.tt/2Poyr...

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IFC setting up 3 funds to buy out stressed assets in India

“We are working on different funds — one for corporate, one for SMEs (small and medium enterprises), one for retail,” IFC said. from Banking/Finance-Industry-Economic Times https://ift.tt/2za9Q...

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Storing data locally since October 15: Visa

Visa CEO Alfred Francis Kelly says company has told RBI how it will tweak its systems to fully comply with rule. from Banking/Finance-Industry-Economic Times https://ift.tt/2AvTQ...

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Finance Minister Arun Jaitley holds meeting with banks to review liquidity situation

Finance Minister Arun Jaitley Friday met heads of top public sector banks to review the cash position in the system amid concerns of a liquidity crunch being faced by some sectors, sources said. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2CI00...

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Here is the full text of RBI's deputy governor Viral V Acharya's speech in Mumbai

His comments comes against the backdrop of media reports that some unnamed government officials wanted an easing of stringent rules under which a handful of state-run banks are being kept. from Banking/Finance-Industry-Economic Times https://ift.tt/2SlYZ...

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Finance Minister Arun Jaitley holds meeting with banks to review liquidity situation

Finance Minister Arun Jaitley Friday met heads of top public sector banks to review the cash position in the system amid concerns of a liquidity crunch being faced by some sectors, sources said. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2CI00...

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Government interference undermines RBI’s functional autonomy: Viral Acharya

He expressed concerns over RBI's limited powers to discipline errant government-owned banks as it lacks the ability to replace officials, scrap licences and to push for mergers. from Banking/Finance-Industry-Economic Times https://ift.tt/2O9tQ...

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FM holds meeting with banks to review liquidity situation

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2ORtv...

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IOB trims loss by 60%

Our Bureau Chennai-headquartered Indian Overseas Bank reported improvements on many fronts that included reduction of net loss, growth in operating pr from Business Line - Money & Banking https://ift.tt/2D6O1...

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Reliance General Insurance net profit up 20% in Q2

Reliance General Insurance, on Friday, posted a 20 per cent increase in its second quarter profit at ₹56 crore.Its gross written premium also grew by from Business Line - Money & Banking https://ift.tt/2EJ3G...

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World Bank to help SIDBI float ‘livelihood bonds for women’

World Bank is in talks with SIDBI to see if the latter can float ‘livelihood bonds for women’ to enable global financial flows into small and medium from Business Line - Money & Banking https://ift.tt/2SlPw...

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Potential candidate profile to Rana Kapoor finalised

The Search and Selection Committee of YES Bank has finalised the potential candidate profile for a successor to its current Managing Director and CEO, from Business Line - Money & Banking https://ift.tt/2z4H9...

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Axis Bank plans to sell 4.95% stake in NSDL to HDFC Bank

Axis Bank, on Friday, announced it would sell 4.95 per cent stake in National Securities Depository (NSDL) to HDFC Bank for ₹163.34 crore.“The bank ha from Business Line - Money & Banking https://ift.tt/2SnlI...

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ICICI’s core performance picks up, NPAs moderate

Further moderation in slippages and sustainability of pick-up in loan growth will have to be watched in the coming quarters from Business Line - Money & Banking https://ift.tt/2ENvr...

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Yes Bank's CEO search panel finalises potential candidate profile

The bank's 'Search & Selection Committee' is headed by Independent Director Brahm Dutt. from Banking/Finance-Industry-Economic Times https://ift.tt/2Jjlp...

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‘New tech can forecast default probability’

Innovation has been driving HDFC Bank’s day-to-day operations for over four years now. In an era where technology is fast changing, HDFC has been ahea from Business Line - Money & Banking https://ift.tt/2OUJm...

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Manappuram Finance invites small depositors to invest in its NCDs

Tranche 1 of the issue opened for subscription on October 24 from Business Line - Money & Banking https://ift.tt/2Rd7J...

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Bank credit grows at 14.35 per cent, deposits at 8.86 per cent: RBI data

Bank credit increased by 14.35 per cent to Rs 89.93 lakh crore in the fortnight ended October 12, while the deposits rose by 8.86 per cent to Rs 117.85 lakh crore, according to the Reserve Bank of India (RBI) data. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OReO...

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Modi government plans early capital infusion as NBFCs liquidity stress rattles financial markets

The move to ensure that liquidity conditions remain orderly in the markets comes amid worries on NBFCs' approximately Rs 1 lakh crore worth of debt papers, which are coming up for redemption by March 2019. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2PnnI...

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Are banks closed for 11 days in October, November? Here’s truth; check holiday dates

Bank holidays 2018: The latest rumours on social media that banks will remain closed for 11 days in October and November are triggering confusion in the minds of the general public. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ORp2...

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ICICI Bank Q2 profit halves, misses estimates

ICICI Bank's net profit came in at Rs 909 crore ($123.84 million) in the three months ended September 30, compared with Rs 2,058 crore a year earlier, the private-sector bank said. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2z4vn...

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ICICI Bank Q2 net profit dives 42% to Rs 1,205 cr

ICICI Bank on Friday reported a 42 per cent drop in its consolidated net profit to Rs 1,204.62 crore in the quarter ended September 2018. The country from Business Line - Money & Banking https://ift.tt/2Jg0m...

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Bank credit grows at 14.35%, deposits at 8.86%

Bank credit increased by 14.35 per cent to Rs 89.93 lakh crore in the fortnight ended October 12, while the deposits rose by 8.86 per cent to Rs 117. from Business Line - Money & Banking https://ift.tt/2SjdF...

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Markets end in red, Sensex dives nearly 350 points; Nifty below 10,050

Yes Bank, Axis Bank, IndusInd Bank, Tata Consultancy Services and Kotak Mahindra Bank were among the major losers on the 30-share BSE, falling as much as 8.97 per cent. On NSE, all the sub-indices ended in red with Nifty Private Bank declining the most by 2.05 per cent. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2D6an...

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`No case for easing any norms including PCA framework’

Centre looking to align them with best in the world, says DFS Secretary Rajiv Kumar from Business Line - Money & Banking https://ift.tt/2q8tI...

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ED seeks fugitive offender tag for Sterling Biotech promoters

The central agency files plea in Rs 8,100 crore bank loan fraud case from Business Line - Money & Banking https://ift.tt/2AsEh...

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RBI says Equitas, Ujjivan have to list their small bank units

The Reserve Bank of India (RBI) has asked Chennai-headquartered Equitas Holdings Ltd and Bengaluru-headquartered Ujjivan Financial Services Ltd to co from Business Line - Money & Banking https://ift.tt/2O8dV...

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Bank unions call for strike against proposed amalgamation plans

A final date for the strike is likely to announced in first week of November from Business Line - Money & Banking https://ift.tt/2yCh1...

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PMO reviews IL&FS crisis, board’s revival plan on October 31

The government-appointed board of Infrastructure Leasing & Financial Services (IL&FS), which met in Mumbai on Thursday, will submit a revival plan with the National Company Law Tribunal (NCLT) on October 31. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2qjzZ...

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Markets open lower, Sensex down over 250 points; Nifty below 10,100

Yes Bank, NTPC, Infosys, Asian Paints, Coal India and Vedanta were among the top losers on the BSE platform, falling as much as 6.68 per cent. On the NSE index, all the sub-indices were trading in red with Nifty Metal losing the most by sliding 1.42 per cent. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2JhcK...

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Bank unions call for strike against proposed consolidation plans

A final date for the strike is likely to announced in first week of November from Business Line - Money & Banking https://ift.tt/2D8BS...

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PMO reviews IL&FS crisis, board’s revival plan on October 31

The government-appointed board of Infrastructure Leasing & Financial Services (IL&FS), which met in Mumbai on Thursday, will submit a revival plan with the National Company Law Tribunal (NCLT) on October 31. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2qjzZ...

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IL&FS advisors redrawing its list of assets

The company has debt liabilities of Rs 91,000 crore. It has defaulted on several repayments since September, and has been downgraded to D from AAA. from Banking/Finance-Industry-Economic Times https://ift.tt/2SjMO...

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IDFC Bank to be renamed as IDFC First Bank

IDFC Bank has proposed to change its name to 'IDFC First Bank Ltd' as it is in the process of amalgamating non-banking financial company Capital First with itself. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2RhoA...

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Paytm Payments Bank appoints Satish Kumar Gupta as MD, CEO; all about veteran banker

A few months after Renu Satti stepped down, Paytm Payments Bank appointed Satish Kumar Gupta as its new managing director and CEO. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Sf4D...

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Demand for our loans grew as other NBFCs stopped lending: Ajay Piramal

The financial services business of diversified Piramal group has shown strong results despite recent tightening of liquidity in the industry as the I from Business Line - Money & Banking https://ift.tt/2CEUF...

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RBI issues ‘fit and proper’ criteria for sponsors of ARCs

The Reserve Bank of India, on Thursday, issued ‘fit and proper’ criteria for existing and proposed sponsors of Asset Reconstruction Companies (ARCs). from Business Line - Money & Banking https://ift.tt/2z1LT...

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‘Larger retail funding, asset quality of NBFCs in good shape’

SurabhiDespite the problems at Infrastructure Leasing and Financial Services, the larger asset quality of NBFCs is in good shape, as “this is a tempor from Business Line - Money & Banking https://ift.tt/2Au1o...

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PayU aims to expand credit services portfolio in India

Plans to focus on personal loans and deferred payment services from Business Line - Money & Banking https://ift.tt/2PUtj...

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Strong dollar, CAD key reasons for rupee’s decline, says Ind-Ra

Credit rating agency expects thecurrency to average 69.79/USD in FY19 from Business Line - Money & Banking https://ift.tt/2Aqt6...

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IDFC Bank to be renamed as IDFC First Bank

The approvals from the National Company Law Tribunals, it said are awaited. from Banking/Finance-Industry-Economic Times https://ift.tt/2AsaE...

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YES Bank Q2 net declines 4% at ₹965 cr

Our BureauPrivate sector lender YES Bank, on Thursday, reported a 3.8 per cent decline in net profit at ₹964.7 crore for the quarter ended September from Business Line - Money & Banking https://ift.tt/2z4rM...

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Significant increase in slippages and provisioning weighs on earnings

Radhika Merwin Barring YES Bank’s continuing stellar growth in loans, the bank’s September quarter results offer little cheer to investors. A sharp ri from Business Line - Money & Banking https://ift.tt/2SbV0...

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Refinitiv plans to launch ‘digital identity solutions’ in India next year

KR SrivatsRefinitiv, one of the world’s largest providers of financial markets data and risk-management solutions, plans to bring its new ‘digital id from Business Line - Money & Banking https://ift.tt/2JgrW...

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Corp Bank bags MSME award

 Corporation Bank has bagged the ‘Best MSME Bank - Winner 2018’ award instituted by the Assocham. Shivanand Hebbar, DGM, received the award from Chief from Business Line - Money & Banking https://ift.tt/2qdjx...

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Cryptocurrency illegal: Nasscom

Nasscom president Debjani Ghosh Thursday said cryptocurrencies were illegal and asked players to obey the law and seek clarification from the governm from Business Line - Money & Banking https://ift.tt/2AtMn...

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Markets end in red: Sensex crashes nearly 350 points amid global rout

Bharti Airtel, Vedanta, Adani Ports, Yes Bank and Tata Motors were among the major losers on BSE with their stock falling as much as 7.18 per cent. On the NSE index, aprt from Nifty IT, all the sub-indices tracked losses, declining as much as 2.37 per cent. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2qcas...

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Avanti Finance appoints Rahul Gupta as CEO

Operations to start next year from Business Line - Money & Banking https://ift.tt/2PjUg...

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L&T Finance Q2 profit rises 67% to ₹560 crore

Despite several headwinds that impacted the NBFC segment, L&T Finance has managed to post a decent growth in profits at ₹560 crore, up 18.4 per ce from Business Line - Money & Banking https://ift.tt/2JgqH...

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NBFC-P2P lending industry forms association

In an effort to represent the NBFC-P2P lending industry at international forums, an association of NBFC P2P Platforms has been formed.The association from Business Line - Money & Banking https://ift.tt/2PUw3...

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Finance ministry set to put PSB recapitalisation plan on fast track

The finance ministry is set to expedite the issue of recapitalisation bonds worth around Rs 45,000 crore to public sector banks (PSBs) to shore up their capital base and enable them to support growth at a time when the lending ability of non-banking financial companies (NBFCs) has been severely impaired by a liquidity crunch. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2CEax...

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Paytm Payments Bank names Satish Kumar Gupta as MD, CEO

Paytm Payments Bank Thursday announced the appointment of Satish Kumar Gupta as its managing director and CEO.Gupta brings over 35 years of leadershi from Business Line - Money & Banking https://ift.tt/2EJJ5...

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PNB fraud: ED attaches Rs 255 cr assets of Nirav Modi in Hong Kong

The Enforcement Directorate (ED) on Thursday said it has attached valuables and jewellery worth Rs 255 crore in Hong Kong of diamond jeweller Nirav Mo from Business Line - Money & Banking https://ift.tt/2EGHp...

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Lakshmi Vilas Bank braces for more asset quality stress

In the September quarter, the lender reported Rs 237 crore fresh slippage with a majority of it coming from small accounts while gross non-performing assets ratio slipped to 12.31% from Banking/Finance-Industry-Economic Times https://ift.tt/2PkUn...

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Finance ministry set to put PSB recapitalisation plan on fast track

The finance ministry is set to expedite the issue of recapitalisation bonds worth around Rs 45,000 crore to public sector banks (PSBs) to shore up their capital base and enable them to support growth at a time when the lending ability of non-banking financial companies (NBFCs) has been severely impaired by a liquidity crunch. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2CEax...

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Government wants easier norms for banks, in line with global rules

During discussions with RBI, including at this week’s board meeting, government representatives have suggested that the capital requirement for banks, along with risk weights and capital conservation buffer should be in line with the Basel norms, sources told TOI. The government feels that the current norms are tougher than global standards. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2D3WG...

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Finance ministry set to put PSB recapitalisation plan on fast track

The finance ministry is set to expedite the issue of recapitalisation bonds worth around Rs 45,000 crore to public sector banks (PSBs) to shore up their capital base and enable them to support growth at a time when the lending ability of non-banking financial companies (NBFCs) has been severely impaired by a liquidity crunch. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2CEax...

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Markets open lower, Sensex dives nearly 300 points; Nifty below 10,200

Bharti Airtel, IndusInd Bank, Vedanta, Reliance and Infosys were among the major losers on BSE with their stocks declining as much as 3.19 per cent. On the NSE platform, except for Nifty Pharma, all other sub-indices were trading in red, sliding as much as 1.52 per cent. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2OOQS...

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Finance ministry set to put PSB recapitalisation plan on fast track

The finance ministry is set to expedite the issue of recapitalisation bonds worth around Rs 45,000 crore to public sector banks (PSBs) to shore up their capital base and enable them to support growth at a time when the lending ability of non-banking financial companies (NBFCs) has been severely impaired by a liquidity crunch. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2CEax...

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Deutsche Bank objects to Uttam Galva payment plan

The letter added that some $14.08 million was outstanding, which included interest and default interest as on October 22, 2018. ​ from Banking/Finance-Industry-Economic Times https://ift.tt/2Rdyq...

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SBI moves SC, seeks amendment in pacts between power companies, discoms

SBI has moved the Supreme Court seeking implementation of a high power panel's recommendation to amend the PPAs between various discoms and three Gujarat-based electricity producers who were running losses as they could not hike tariffs to compensate for the rise in cost of coal imported from Indonesia. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2JgaF...

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SBI moves SC, seeks amendment in pacts between power companies, discoms

SBI has moved the Supreme Court seeking implementation of a high power panel's recommendation to amend the PPAs between various discoms and three Gujarat-based electricity producers who were running losses as they could not hike tariffs to compensate for the rise in cost of coal imported from Indonesia. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2JgaF...

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SBI moves SC, seeks amendment in pacts between power companies, discoms

SBI has moved the Supreme Court seeking implementation of a high power panel's recommendation to amend the PPAs between various discoms and three Gujarat-based electricity producers who were running losses as they could not hike tariffs to compensate for the rise in cost of coal imported from Indonesia. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2JgaF...

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SBI moves SC, seeks amendment in pacts between power companies, discoms

SBI has moved the Supreme Court seeking implementation of a high power panel's recommendation to amend the PPAs between various discoms and three Gujarat-based electricity producers who were running losses as they could not hike tariffs to compensate for the rise in cost of coal imported from Indonesia. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2JgaF...

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SBI moves SC, seeks amendment in pacts between power companies, discoms

SBI has moved the Supreme Court seeking implementation of a high power panel's recommendation to amend the PPAs between various discoms and three Gujarat-based electricity producers who were running losses as they could not hike tariffs to compensate for the rise in cost of coal imported from Indonesia. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2JgaF...

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KVB’s digital drive begins to pay off

Lender’s total business at the end of HI grows to ₹1.06-lakh crore from Business Line - Money & Banking https://ift.tt/2Sdxm...

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Mahindra Fin net surges 132% at ₹381 cr

  Mahindra & Mahindra Financial Services Limited (Mahindra Finance), an NBFC that caters to financial services in rural and semi-urban markets, ha from Business Line - Money & Banking https://ift.tt/2z05q...

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Kotak Mahindra Bank net up 15% on stable asset quality

Lender in talks with RBI over dilution of promoter shareholding from Business Line - Money & Banking https://ift.tt/2SgMN...

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Lenders likely to face more pressure to up deposit rates

Banks are likely to face more pressure to up deposit rates, as their incremental credit growth is outstripping deposit growth, going by the latest dat from Business Line - Money & Banking https://ift.tt/2yZ4b...

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Premium paid to foreign re-insurers before 2014 ‘is not business expenditure’

Recent ruling by the Chennai Bench of the Income Tax Appellate Tribunal will have a major impact on insurers’ tax liability from Business Line - Money & Banking https://ift.tt/2CA14...

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L&T Finance profit up 18% at ₹560 crore

Our BureauDespite several headwinds that impacted the NBFC segment, L&T Finance has managed to post a decent growth in profits at ₹560 crore, up from Business Line - Money & Banking https://ift.tt/2PijX...

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Ensure CoC members areseniors, IBBI tells lenders

This will prevent delays in resolving stressed assets from Business Line - Money & Banking https://ift.tt/2EHjc...

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Lakshmi Vilas Bank net loss widens to Rs 132 cr

Lakshmi Vilas Bank has recorded a net loss of Rs 132.30 crore for the second quarter ended September 30, 2018 due to “higher provisioning’’. The Tamil from Business Line - Money & Banking https://ift.tt/2PijU...

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Kotak's 8/11 Aadhaar-based accounts take a hit, post-SC order

Kotka Mahindra Bank was the first lender to launch the Aadhar-based account opening in March 2016, which was later adopted by many others. from Banking/Finance-Industry-Economic Times https://ift.tt/2SgXG...

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Corporate bond market may touch ₹60-lakh cr by FY2023-end: Crisil

India’s corporate bond market is likely to see a significant deepening, with the overall supply estimated to more than double to close at ₹60-lakh cro from Business Line - Money & Banking https://ift.tt/2EFLX...

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Mahindra Finance Q2 profit soars 2-folds to Rs 381 cr

Mahindra & Mahindra Financial Services (Mahindra Finance) on Wednesday reported more than two-fold jump in standalone net profit at Rs 381 crore from Business Line - Money & Banking https://ift.tt/2AqXp...

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SBI moves SC, seeks amendment in pacts between power cos, discoms

The top court by its order of April 11, 2017 had set aside the decisions of the CERC and Appellate Tribunal for Electricity allowing the power producers to charge compensatory tariff. from Banking/Finance-Industry-Economic Times https://ift.tt/2ywBP...

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Markets snap four-day skid as Sensex ends 187 points higher, reclaims 34,000-mark

On BSE, Bharti Airtel, Asian Paints, IndusInd Bank, HDFC and Hindustan Unilever were among the major gainers, rising as much as 9.34 per cent. On the NSE platform, sub-indices Nifty Realty, Financial Service and Metal surged the most, gaining as much as 3.06 per cent. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2JdFN...

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Deutsche Bank stumbles on path to profit as revenue recedes

Deutsche Bank's bleak third quarter results and revenue forecast overshadowed its assertion on Wednesday that it is on track to return to profit this from Business Line - Money & Banking https://ift.tt/2D2uS...

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Karur Vysya Bank Q2 net up 11%

Karur Vysya Bank has reported a 10.7 per cent increase in its standalone net profit at Rs 83.74 crore for the quarter ended September 30, 2018. It had from Business Line - Money & Banking https://ift.tt/2EEfQ...

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RRB employees may have to wait another six months to get their dues, albeit partly

The final shape of the scheme has failed to satisfy the retired employees as their demand for arrear payment has not been considered. from Banking/Finance-Industry-Economic Times https://ift.tt/2R8Xp...

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Chanda Kochhar controversy gets murkier: All you need to know about Videocon-ICICI Bank quid pro quo case

Chanda Kochhar controversy: The controversy surrounding ICICI Bank's former boss Chanda Kochhar and Videocon got murkier with a law firm withdrawing its clean-chit into the matter. Here's all you need to know about it. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2JePt...

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NBFC crisis may delay real estate much-anticipated recovery

Besides the financial sector, the real estate business may also face the heat due to the ongoing crisis in NBFC sector, triggered by IL&FS default. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2PThj...

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Kotak Mahindra Bank reports 21% rise in Q2 net profit to Rs 1,747 crore: Key figures in a nutshell

India’s major private sector lender Kotak Mahindra Bank has reported Q2 results in-line with estimates, with consolidated net profit rising 21% to Rs 1,747 crore, as compared to 1,441 crore in the same period previous fiscal. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AoJg...

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SBI holidays 2018: As festive season begins, here’s how many days banks will remain closed; check full list

SBI holidays 2018: The social media is currently flooded with rumours that banks will remain closed on several days for Diwali and allied festivals triggering confusion in the minds of the people. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AoPQ...

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SBI General posts 64% increase in H1 net profit

The gross written premium too increased by 30 per cent to Rs 2,067 crore from Business Line - Money & Banking https://ift.tt/2OJKR...

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RBI to banks: Speed up cyberheist response

“While prevention is where most of the work is, prevention will remain a wish point because cybercrimes will happen,” said Reserve Bank Information Technology (ReBIT) CEO Nandkumar Saravade. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2EGdh...

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‘Report giving clean chit to Chanda Kochhar no more valid’

According to ICICI Bank sources, the law firm Cyril Amarchand Mangaldas told the bank that since the scope of investigation to probe similar allegations by a new committee — headed by retired Supreme Court judge B N Srikrishna — had widened, so its report was no more valid. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2SeQl...

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Delta shifts some work from Cognizant to TCS

This comes within months of Swiss bank UBS reducing its outsourcing to the Nasdaq-listed IT company. Most of this UBS work was transferred to TCS and Wipro. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2PeZp...

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RBI to banks: Speed up cyberheist response

The directive comes in the wake of multiple attempted heists in Indian banks in recent years. from Banking/Finance-Industry-Economic Times https://ift.tt/2q9HY...

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Cash-strapped Jet Airways asks banks for loan rejig

In a bid to stay afloat, Jet Airways has asked banks to give a moratorium and restructure its loan, while seeking fresh funds to meet working capital needs. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2R54Q...

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Sensex rises 300 points to reclaim 34,000-mark, Nifty above 10,200

On the BSE platform, ICICI Bank, Asian Paints, Tata Motors, Mahindra and Mahindra and Adani Ports were among major gainers, rising as much as 2.44 per cent. On NSE, sub-indices Nifty Realty, PSU Bank and Financial Service surged the most, gaining as much as 1.99 per cent. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2D2xx...

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IL&FS fiasco: Why rating agencies need a reform

IL&FS, India’s putative answer to the sovereign infrastructure funds of oil rich Gulf states, was relegated to junk from the most coveted investment grade in 45 days. from Banking/Finance-Industry-Economic Times https://ift.tt/2q5zZ...

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Insurance costs hit two-wheeler sales

​​Dealers are staring at large inventories built-up ahead of the festivals, as they apprehend a sharp decline in demand compared with last year’s festive season. from Banking/Finance-Industry-Economic Times https://ift.tt/2R70K...

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RBI says no to easing of PCA rules yet; board discusses liquidity crunch, NPA issue

The board of the Reserve Bank of India (RBI) is learnt to have discussed the issue of relaxing the so-called prompt corrective action (PCA) framework in a much-watched meeting on Tuesday, but no relief on this front was approved. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2q6lu...

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Bad news for Chanda Kochhar: Law firm pulls back clean chit, says ICICI Bank

ICICI Bank on Tuesday said a leading law firm has taken down a 2016 report exonerating the bank’s former head Chanda Kochhar from charges of nepotism and conflict of interest with regard to loans given to the Videocon Group. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2R5DF...

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Bank of India puts NPAs worth Rs 10,700 crore on sale, five accounts on RBI lists put on block

Bank of India (BoI) on Tuesday put on sale non-performing assets (NPAs) worth Rs 10,710 crore, including its exposures to eight power projects and five accounts named on either of the Reserve Bank of India’s (RBI) two lists. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Rc3w...

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Fino Payments Bank gets RBI go-ahead to resume opening new accounts

The Reserve Bank of India (RBI) has allowed Fino Payments Bank to resume opening savings accounts, nearly three months after it imposed a ban on new accounts at the bank for breaching regulatory norms. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2q9wq...

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Fake bank apps may have stolen data of thousands of customers: Report

Fake apps of SBI, ICICI, Axis Bank, Citi and other leading banks are available on Google Play, which may have stolen data of thousands of bank customers, claims a report by IT security firm Sophos Labs. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2R9Rq...

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Bank of India puts NPAs worth Rs 10,700 crore on sale, five accounts on RBI lists put on block

Bank of India (BoI) on Tuesday put on sale non-performing assets (NPAs) worth Rs 10,710 crore, including its exposures to eight power projects and five accounts named on either of the Reserve Bank of India’s (RBI) two lists. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Rc3w...

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Fino Payments Bank gets RBI go-ahead to resume opening new accounts

The Reserve Bank of India (RBI) has allowed Fino Payments Bank to resume opening savings accounts, nearly three months after it imposed a ban on new accounts at the bank for breaching regulatory norms. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2q9wq...

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Fake bank apps may have stolen data of thousands of customers: Report

Fake apps of SBI, ICICI, Axis Bank, Citi and other leading banks are available on Google Play, which may have stolen data of thousands of bank customers, claims a report by IT security firm Sophos Labs. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2R9Rq...

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Law firm Cyril Amarchand Mangaldas withdraws report that gave clean chit to Kochhar

ICICI Bank in a filing said the bank had expressed confidence in Kochhar on the basis of the inquiry report of the law firm from Banking/Finance-Industry-Economic Times https://ift.tt/2OMWr...

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Fake bank apps may have stolen data of thousands of customers: Report

The report said deceptive malware in these apps may have stolen customers' account and credit card details. from Banking/Finance-Industry-Economic Times https://ift.tt/2ScqN...

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‘Fintech re-writing history of financial and banking sectors’

Ch RS SarmaFintech is one of the emerging disruptive technologies rocking the banking and financial sectors, and though it opens up many opportunities from Business Line - Money & Banking https://ift.tt/2Scgu...

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Absence of bond market main reason for India's banking crisis:Comptroller and Auditor General

It said that countries like Brazil, Russia, China and the UK had taken steps to reform the bankruptcy laws which, along with other structural reforms, led to a significant growth in the corporate bond market within their financial markets. from Banking/Finance-Industry-Economic Times https://ift.tt/2ScPv...

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Six-member panel set up to resolve stressed assets

Janki Ballabh and M Damodaran, former chairmen of SBI and SEBI, among members from Business Line - Money & Banking https://ift.tt/2ScUR...

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EarlySalary crosses Rs 550 crore loan disbursal, says is largest consumer lending app

​​It is now disbursing Rs.80 crores a month and processes over 60,000 loan applications and disburses 35,000 loans every month. from Banking/Finance-Industry-Economic Times https://ift.tt/2OHfg...

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Dena Bank aims to bring down gross NPAs to 15% by March 2019

MD and chief executive officer Karnam Sekar said that the bank has not added any NPAs in the last two quarters, and in September quarter, it reduced slightly. from Banking/Finance-Industry-Economic Times https://ift.tt/2O0uG...

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Banks to witness rise in retail lending this festival season

Credit disbursements by NBFCs likely to be slow due to the liquidity squeeze faced by them from Business Line - Money & Banking https://ift.tt/2JaS6...

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CAG Rajiv Mehrishi questions RBI’s accountability over NPA crisis in banks

Comptroller and Auditor General of India (CAG) Rajiv Mehrishi Tuesday questioned the role of RBI in the present banking crisis, asking what the regulator was doing when the banks were lending huge amounts that resulted in asset-liability mismatch and huge bad loans. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2CYOU...

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Indian NBFCs need to repay about Rs 1.2 lakh crore of commercial paper debt in October-December

India’s non-bank financial companies have had a tough few months amid the fallout from defaults by one of their own, conglomerate IL&FS group. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2PPZh...

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Absence of a deep bond market is major cause for banking crisis: CAG

‘Banks forced to lend to long gestation infra projects’ from Business Line - Money & Banking https://ift.tt/2SabP...

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Law firm Cyril Amarchand Mangaldas withdraws report that gave clean chit to Kochhar

Law firm Cyril Amarchand Mangaldas withdrew its 2016 report that had given a clean chit to former ICICI Bank chief executive Chanda Kochhar with rega from Business Line - Money & Banking https://ift.tt/2Sa8f...

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Dena Bank aims to bring down gross NPAs to 15% by March 2019

Dena Bank Tuesday said it expects to bring down gross non-performing assets (NPAs) to 15 per cent by March 2019, from existing 22-23 per cent, which from Business Line - Money & Banking https://ift.tt/2D0hX...

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HDFC Life Q2 net profit jumps 20%

Private sector HDFC Standard Life Insurance on Tuesday posted a 20.3 per cent increase in its net profit to ₹286.98 crore for the quarter ended Septe from Business Line - Money & Banking https://ift.tt/2R6n6...

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ICICI Prudential Life net declines 28.5%

ICICI Prudential Life Insurance Company has reported a decline of 28.5 per cent in its standalone net profit at Rs 301 crore for the second quarter en from Business Line - Money & Banking https://ift.tt/2D12M...

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Bajaj Finance Q2 net up 54% to Rs 923 cr

Bajaj Finance on Tuesday reported a 54 per cent jump in its consolidated net profit at Rs 923 crore in the quarter ended September, helped by higher from Business Line - Money & Banking https://ift.tt/2EItL...

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Muthoot Fincorp to hike rates marginally

NBFC liquidity crisis leads to increase in lending rates from Business Line - Money & Banking https://ift.tt/2Pjt9...

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HDFC Life Q2 net up 20% at Rs 287cr

HDFC Standard Life Insurance Company (HDFC Life) on Tuesday reported 20.3 per cent rise in net profit at Rs 286.98 crore for the quarter ended Septem from Business Line - Money & Banking https://ift.tt/2ED3n...

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Fintech re-writing the history of financial, banking sectors: Experts

Fintech is one of the emerging disruptive technologies rocking the banking and financial sectors, and even though it opens up many doors of opportunit from Business Line - Money & Banking https://ift.tt/2OFf5...

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CAG Rajiv Mehrishi questions RBI's accountability over NPA crisis

According to government data, the banking sector had non-performing assets (NPAs) or bad loans worth over Rs 9.61 lakh crore by the end of 2017-18. from Banking/Finance-Industry-Economic Times https://ift.tt/2CzoB...

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Markets log fourth straight fall, Sensex ends 287 points lower

Sun Pharma, Asian Paints, Wipro, Tata Consultancy Services (TCS) and Infosys were among the biggest loser on the BSE platform, falling as much as 5.07 per cent. On NSE, sub-indices Nifty Pharma, IT, Media and PSU Bank attracted losses as much as 2.89 per cent. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2CAUl...

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RBL Bank Q2 profit rises 36% to Rs 205 cr

Private sector RBL Bank on Tuesday reported a 36 per cent rise in its September quarter profit to Rs 204.54 crore backed by a rise in interest income from Business Line - Money & Banking https://ift.tt/2ECGI...

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Ficci to RBI: NBFC liquidity crisis could impact eco

Ficci pointed out that loan defaults by IL&FS has impacted both banks and bonds with the money market and liquidity funds witnessing a fall in net asset value (NAV) due to this, creating a panic situation. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2D07D...

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Baring, Bain & TPG in final list for Lakshmi Vilas Bank

JP Morgan, which is advising on the fund-raising plan, has shortlisted the investors, but the bank would not comment on specific names right now, said LVB chief executive and managing director Parthasarathi Mukherjee. He declined to comment further. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2POUm...

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Pay for surgery via a cheaper P2P loan

P2P players like Faircent, LenDenClub, i2iFunding and LoanTap say they also process medical loans faster. “It takes banks five-seven days to process a medical or personal loan. We normally process 60% of our loans the same day, and the rest by the next day, including documentation work and underwriting,” says LenDenClub CEO Bhavin Patel. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2S8Gm...

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Markets open weak, Sensex drops below 34,000-mark; Nifty below 10,200

Asian Paints, ONGC, Hindustan Unilever and ITC were among the stocks that dropped the most in opening trade on BSE, falling as much as 5.45 per cent. On the NSE platform, sub-indices Nifty FMCG, Realty and PSU Bank were among the major losers, dropping as much as 0.94 per cent. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2EChE...

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SBI plans to raise up to Rs 25,000 crore in FY19

The country's largest bank SBI said Monday it seeks to raise up to Rs 25,000 crore during the current financial year, including up to Rs 5,000 crore through bonds to meet capital adequacy norms. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2R5eK...

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SBI plans to raise up to Rs 25,000 crore in FY19

The country's largest bank SBI said Monday it seeks to raise up to Rs 25,000 crore during the current financial year, including up to Rs 5,000 crore through bonds to meet capital adequacy norms. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2R5eK...

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SBI plans to raise up to Rs 25,000 crore in FY19

The country's largest bank SBI said Monday it seeks to raise up to Rs 25,000 crore during the current financial year, including up to Rs 5,000 crore through bonds to meet capital adequacy norms. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2R5eK...

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SBI plans to raise up to Rs 25,000 crore in FY19

The country's largest bank SBI said Monday it seeks to raise up to Rs 25,000 crore during the current financial year, including up to Rs 5,000 crore through bonds to meet capital adequacy norms. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2R5eK...

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Lakshmi Vilas Bank shortlists five investors to sell stake

The five bidders were shortlisted from as many as 15 investors that have shown initial interest. from Banking/Finance-Industry-Economic Times https://ift.tt/2yXA5...

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BoB-Dena-Vijaya Merged Bank to get growth capital

In September, the government had proposed a merger of the three banks to create the country’s third biggest lender. from Banking/Finance-Industry-Economic Times https://ift.tt/2OD1W...

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Syndicate Bank gets Rs 728-cr capital infusion from government

Stock of Syndicate Bank closed 0.63 per cent down at Rs 31.65 on the BSE. from Banking/Finance-Industry-Economic Times https://ift.tt/2CZTi...

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Rupee exhibits signs of reversal

If the currency breaches 72.9, it can strengthen to 72 and 71.8 in the coming weeks from Business Line - Money & Banking https://ift.tt/2NVyO...

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PNB MetLife adds ‘Khushi’to insurance policyholders

New AI-powered app provides uninterrupted customer service from Business Line - Money & Banking https://ift.tt/2EM1Y...

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Rupee exhibits signs of reversal

If the currency breaches 72.9, it can strengthen to 72 and 71.8 in the coming weeks from Business Line - Money & Banking https://ift.tt/2PcvT...

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Canara Bank seeks bids to replace Gammon at the Mumbai port

Stalled terminal owes ₹750 crore to five banks from Business Line - Money & Banking https://ift.tt/2ExV6...

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TVS Capital achieves first close of third fund

TVS Capital Funds Pvt Ltd has achieved the first close of its third fund, TVS Shriram Growth Fund 3, at ₹832 crore, fully from domestic investors.The from Business Line - Money & Banking https://ift.tt/2PcvM...

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Three employees held over extortion bid on Paytm founder

Our BureauThree Paytm employees, including a woman, were arrested by the Noida police on Monday, in an extortion case related to the e-wallet major’s from Business Line - Money & Banking https://ift.tt/2ywqj...

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Indian banks’ profitability to remain under pressure for the rest of FY19

But will pick up from next fiscal with stability in asset quality, says Moody’s from Business Line - Money & Banking https://ift.tt/2Jb2v...

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India’s underinsurance gap still among the highest in the world: Lloyd’s report

Only a marginal rise in non-life insurance penetration, says Lloyd’s report from Business Line - Money & Banking https://ift.tt/2CvUP...

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IBBI comes down on errant IPs

In a recent case, the IBBI’s Disciplinary Committee found that the insolvency professional did not have a single meeting of the CoC, which pushed the company into liquidation from Business Line - Money & Banking https://ift.tt/2AmGM...

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Bank of India shuts down operations in Jersey

State-run Bank of India has closed down its operations at Jersey in the Channel Islands with effect from October 18.“This is to inform that Jersey Fin from Business Line - Money & Banking https://ift.tt/2PJXf...

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Indian banks' profitability weaker than BRICS peers, to improve next fiscal: Moody's

Brazilian banks had an NPL ratio of 3.5 per cent at the end of 2017, compared with 2.9 per cent for South African banks and the lowest of 1.5 per cent for Chinese banks. from Banking/Finance-Industry-Economic Times https://ift.tt/2R6MY...

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Indian banks’ profitability weaker than BRICS peers: Moody’s

Moody’s Investors Service on Monday said the profitability of Indian banks is “distinctively weak” compared to those in BRICS nations, but it will im from Business Line - Money & Banking https://ift.tt/2Cydc...

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CanFin Homes’ Q2 net profit up 7.6%

Good growth in loan portfolio has lifted CanFin Homes’ net profit 7.56 per cent to Rs 76.82 crore for the second quarter (Q2) of 2018-19 against Rs 71 from Business Line - Money & Banking https://ift.tt/2PRBp...

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SBI plans to raise up to Rs 25,000 crore in FY19

The country's largest bank SBI said Monday it seeks to raise up to Rs 25,000 crore during the current financial year, including up to Rs 5,000 crore through bonds to meet capital adequacy norms. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2R5eK...

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PNB Housing Finance raises Rs 1,775 crore through commercial papers

PNB Housing Finance Monday said it has raised Rs 1,775 crore by issuing commercial papers (CPs) to mutual funds and banks during this month. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2EDtL...

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SBI plans to raise Rs 25,000 cr in FY19

State Bank of India plans to raise up to Rs 25,000 crore during the current financial year, including up to Rs 5,000 crore through bonds, to meet the from Business Line - Money & Banking https://ift.tt/2J9IO...

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IL&FS appoints advisers for debt resolution plan

The newly appointed board has chosen advisory firms, Arpwood Capital and JM Financial Consultants, which will provide financial and transaction advisory. from Banking/Finance-Industry-Economic Times https://ift.tt/2q3qQ...

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Life after IL&FS: Is it game over for NBFCs?

After nearly three years of rip-roaring business, NBFCs are bracing up for harsh winters ahead. from Banking/Finance-Industry-Economic Times https://ift.tt/2AlTZ...

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PNB Housing Finance raises Rs 1,775 cr via commercial papers

PNB Housing Finance had raised Rs 1,775 crore through issuance of commercial papers to mutual funds and banks during this month.“In spite of the curre from Business Line - Money & Banking https://ift.tt/2q2DE...

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Banking stocks drag markets down, Sensex ends over 180 points down

Both the indices lost more the 0.5 per cent each. On BSE, IndusInd Bank, Reliance Industries, Asian Paints, Kotak Mahindra Bank, Yes Bank were among the major loser with their stocks declining as much as 6.95 per cent. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2q4UM...

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IL&FS board chooses advisors for executing a resolution plan

The seven-member government appointed board of IL&FS has selected two financial and transactions advisors and a restructuring advisor for develop from Business Line - Money & Banking https://ift.tt/2yS4D...

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RBI likely to stay on hold for rest of FY’19 : Report

In the policy review meet earlier this month, majority of six-member MPC favoured to keep the key repo rate unchanged from Business Line - Money & Banking https://ift.tt/2PSvR...

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Markets open higher as Sensex up over 200 points; Nifty above 10,350

On BSE, HDFC Bank, Adani Ports, Sun Pharma and Vedanta were among the major gainers, rising as much as 1.54 per cent. On the NSE index, Nifty financial service, Nifty Pharma and Nifty PSU Bank showed gains by rising as much as 1.17 per cent. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2yVjO...

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Q2: Strong fee growth springs a surprise

FY19e PAT down 3.4% due to slippages of `15.4 bn for fiscal; ‘Buy’ maintained. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AlBQ...

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Q2: Strong fee growth springs a surprise

FY19e PAT down 3.4% due to slippages of `15.4 bn for fiscal; ‘Buy’ maintained. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AlBQ...

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SBI to bring 2 lakh customers under wealth business service

Our Bureau State Bank of India (SBI), which offers personalised banking and investment services to its HNI (high networth individual) customers unde from Business Line - Money & Banking https://ift.tt/2PIc7...

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Banks say risk-weight cut on loans to NBFCs will support credit flow to sector

Though the Reserve Bank of India recently took steps to enhance credit flow from banks to non-banking finance companies (NBFCs), Bankers say there are from Business Line - Money & Banking https://ift.tt/2S6nC...

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HDFC Bank Q2 net profit jumps 20.6% to scale ₹5,000-crore mark

Total income surges 21.2% to ₹28,215 cr from Business Line - Money & Banking https://ift.tt/2CwWr...

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HDFC Bank: Healthy traction in loans, stable asset quality

The growth in the bank’s core net interest income has picked up, after moderating in the previous two quarters from Business Line - Money & Banking https://ift.tt/2ytWs...

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SBI launches its first “Wealth Hub” in Mangaluru

The wealth hub was inaugurated by SBI Chairman Rajnish Kumar. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2R5zu...

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Assocham hails RBI decision to ease liquidity crunch at NBFCs amid crisis

The RBI on Friday allowed the banks to use government securities equivalent to their incremental credit to non-banking financial companies (NBFCs) for a three-month period to meet their liquidity coverage ratio (LCR) requirements. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2q5ly...

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SBI launches its first “Wealth Hub” in Mangaluru

The wealth hub was inaugurated by SBI Chairman Rajnish Kumar. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2R5zu...

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Assocham hails RBI decision to ease liquidity crunch at NBFCs amid crisis

The RBI on Friday allowed the banks to use government securities equivalent to their incremental credit to non-banking financial companies (NBFCs) for a three-month period to meet their liquidity coverage ratio (LCR) requirements. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2q5ly...

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