This India-based payments network is now biggest market player with 459 million transactions

India's own homegrown card network has become the biggest market player with over 459 million transactions.

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Another RBI-government tift: Mint Street v/s North Block

This is not the first time that RBI and GoI have been at loggerheads. Here’s a flashback

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Bajaj Allianz Life overhauls its operations to gain agility, achieve customer centricity

Here’s how Bajaj Allianz Life got a digital overhaul to improve its agility and notch up customer centricity.

from Banking/Finance-Industry-Economic Times https://ift.tt/2PC0UV9

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PNB shares tank over 7% post disappointing Q2 numbers

Shares of Punjab National Bank Friday slumped over 7 per cent after the company posted a staggering loss of Rs 4,532.35 crore for the second quarter ended September 2018 on rising bad loans.

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MasterCard cries foul over ‘Modi’s nationalism’ as India’s homegrown RuPay takes lead

Mastercard told the United States government in June that Indian Prime Minister Narendra Modi was using nationalism to promote the use of a domestic payments network, and New Delhi's protectionist policies were hurting foreign payment companies, a document seen by Reuters showed.

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RBI takes note of NBFC crisis, allows banks to provide enhanced liquidity

The NBFCs are facing liquidity crisis after one of the biggest non-banking financing firm IL&FS defaulted on multiple loans, leading to the appointment of the new government-picked board under top banker Uday Kotak.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2qrJk8k

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Axis Bank Q2 net profit climbs 83% to Rs 790 crore, provisions fall

Axis Bank Q2 results: The private sector lender Axis Bank on Friday posted a 83 percent jump in the net profit at Rs 789.61 crore for the July-September quarter supported by healthy growth in core income and a fall in provisions for bad loans. In the corresponding period last year, the bank had reported Rs […]

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LIC Housing Finance eyes 15-16% growth in FY 2018-19, says Managing Director Vinay Sah

LIC Housing Finance Ltd was eyeing 15-16 per cent growth rate during the current financial year, a top company official said Friday.

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SBI to raise Rs 4,116 crore by issuing Basel III compliant bonds

The country's largest lender SBI will raise Rs 4,116 crore by issuing Basel III compliant bonds to add up to its tier 2 capital, the bank said Friday.

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Not job of banks to bail out borrowers: RBI deputy governor

Vishwanathan’s address staked out the position of the central bank on this and other issues, some of them in apparent contrast with the government’s views.

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Lifeline for NBFCs: RBI nod to banks to back their bonds

The relaxation comes at a time when nearly Rs 50,000 crore of commercial papers and another Rs 50,000 crore of bonds issued by finance companies are coming up for redemption and investors have turned cautious in respect of extending fresh loans.

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Govt vs RBI: Top Jaitley man mocks RBI dy guv

Economic affairs secretary Subhas Chandra Garg in a tweet criticised RBI dy governor Viral Acharya’s comment on govt-central bank relation. Acharya had said, "Governments that do not respect central bank independence will sooner or later incur the wrath of financial markets"

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

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Sivasankaran ordered to pay Rs 630cr to IDBI Bank

IDBI approached the UK court after the CBI initiated a probe in April against its top management and Siva to investigate alleged irregularities in two loans given to businessman C Sivasankaran by IDBI Bank which led to a loss of Rs 600 crore. Siva admitted to the bank's claim and agreed to pay almost the full amount.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2F1GUYe

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MasterCard cries foul over ‘Modi’s nationalism’ as India’s homegrown RuPay takes lead

Mastercard told the United States government in June that Indian Prime Minister Narendra Modi was using nationalism to promote the use of a domestic payments network, and New Delhi's protectionist policies were hurting foreign payment companies, a document seen by Reuters showed.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2QdTwMX

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RBI takes note of NBFC crisis, allows banks to provide enhanced liquidity

The NBFCs are facing liquidity crisis after one of the biggest non-banking financing firm IL&FS defaulted on multiple loans, leading to the appointment of the new government-picked board under top banker Uday Kotak.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2qrJk8k

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Axis Bank Q2 net profit climbs 83% to Rs 790 crore, provisions fall

Axis Bank Q2 results: The private sector lender Axis Bank on Friday posted a 83 percent jump in the net profit at Rs 789.61 crore for the July-September quarter supported by healthy growth in core income and a fall in provisions for bad loans. In the corresponding period last year, the bank had reported Rs […]

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2QjKePH

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LIC Housing Finance eyes 15-16% growth in FY 2018-19, says Managing Director Vinay Sah

LIC Housing Finance Ltd was eyeing 15-16 per cent growth rate during the current financial year, a top company official said Friday.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2qqBgob

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SBI to raise Rs 4,116 crore by issuing Basel III compliant bonds

The country's largest lender SBI will raise Rs 4,116 crore by issuing Basel III compliant bonds to add up to its tier 2 capital, the bank said Friday.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2QkPFOk

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Microfinance companies plan to create common pool of assets for securtisation

Securitisation is a process of pooling loan receivables and selling their related cash flows to third party investors as securities.

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Paytm UPI transactions grow 600% in 6 months; becomes largest UPI player in October

The Chinese e-commerce giant Alibaba-backed Paytm had recorded more than 137 million UPI transactions in the month of September, with about 33% of the overall market share.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2QauwWR

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IL&FS Financial Services’ exposure to group companies breaches RBI norms in FY 16-18, says Board

The new board of the troubled IL&FS has found that one of the group subsidiaries, IL&FS Financial Services' (IFIN) outstanding loans and investments to other group entities are much higher than the permissible regulatory caps for the three years ending fiscal 2018.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AGXoRm

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MFIs plan to create common pool of assets for securtisation

The common pool, essentially by smaller MFIs, is aimed at creating economies of scale and making it easier for banks to buy it.

from Banking/Finance-Industry-Economic Times https://ift.tt/2QfnBvs

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Paytm UPI transactions grow 600% in 6 months; becomes largest UPI player in October

The Chinese e-commerce giant Alibaba-backed Paytm had recorded more than 137 million UPI transactions in the month of September, with about 33% of the overall market share.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2QauwWR

Read more »

IL&FS Financial Services’ exposure to group companies breaches RBI norms in FY 16-18, says Board

The new board of the troubled IL&FS has found that one of the group subsidiaries, IL&FS Financial Services' (IFIN) outstanding loans and investments to other group entities are much higher than the permissible regulatory caps for the three years ending fiscal 2018.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AGXoRm

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₹20-cr Diwali bonanza from Capital First’s founder

Vaidyanathan to gift part of his personal holdings to select colleagues

from Business Line - Money & Banking https://ift.tt/2P47ggF

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RBI throws a lifeline to NBFCs, housing finance companies

Allows banks to extend partial credit enhancement for bonds issued by the firms

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Relaxing capital norms can hit banks’ credibility: RBI official

Ruling out any relaxation in prudential capital regulations, RBI Deputy Governor NS Vishwanathan emphasised that these regulations enable banks to su

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Sparks fly again in fresh FinMin-RBI skirmish

DEA Secretary Garg mocks Acharya’s remark on ‘wrath of the markets’

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Mastercard lodges protest to US Govt over Modi promoting RuPay payments network

Says India taking protectionist measures, calls for level-playing field

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Vaidyanathan gifts more than 10% of holdings in Capital First

In a notice to the stock exchange the company said Vaidyanathan will transfer a total of 4.29 lakh shares out of the total 40.40 lakh shares held by him as gift to these people as a token of his gratitude for and “love and affection” for them.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Djfnj9

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Paytm UPI transactions grow 600% in 6 months; becomes largest UPI player in October

The Chinese e-commerce giant Alibaba-backed Paytm had recorded more than 137 million UPI transactions in the month of September, with about 33% of the overall market share.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2QauwWR

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IL&FS Financial Services’ exposure to group companies breaches RBI norms in FY 16-18, says Board

The new board of the troubled IL&FS has found that one of the group subsidiaries, IL&FS Financial Services' (IFIN) outstanding loans and investments to other group entities are much higher than the permissible regulatory caps for the three years ending fiscal 2018.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AGXoRm

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Chennai-based Veritas raises Rs 200 crores from Norwest Venture Partners in Series D round

The company currently has a loan book of Rs 530 crore. Arulmany said the he expected the loan book to increase to over Rs 800 crores in FY18-19 and then up to Rs 1500 crores in the following fiscal, FY19-20.

from Banking/Finance-Industry-Economic Times https://ift.tt/2P6cvwf

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Two IL&FS subsidiaries default on interest payment of Rs 63 cr

IL&FS Group and its companies have defaulted on many debt instruments due to insufficient funds.

from Banking/Finance-Industry-Economic Times https://ift.tt/2CWQ2dP

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Bank of Maharashtrato reinstate CEO, ED

Our BureauThe board of directors of Bank of Maharashtra, on Friday, decided to restore / reinstate the functional responsibilities of RP Marathe, Mana

from Business Line - Money & Banking https://ift.tt/2PE1lhM

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Paytm UPI transactions grow 600% in 6 months; becomes largest UPI player in October

The Chinese e-commerce giant Alibaba-backed Paytm had recorded more than 137 million UPI transactions in the month of September, with about 33% of the overall market share.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2QauwWR

Read more »

IL&FS Financial Services’ exposure to group companies breaches RBI norms in FY 16-18, says Board

The new board of the troubled IL&FS has found that one of the group subsidiaries, IL&FS Financial Services' (IFIN) outstanding loans and investments to other group entities are much higher than the permissible regulatory caps for the three years ending fiscal 2018.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AGXoRm

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Magma Fincorp posts ₹77-cr net

Magma Fincorp reported a 5 per cent increase in consolidated net profit at ₹77 crore in the second quarter ended September 2018, against ₹73 crore in

from Business Line - Money & Banking https://ift.tt/2OmadE9

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City Union Q2 profit up 16%

Private sector lender City Union Bank (CUB) has registered a 16 per cent increase in net profit at ₹168 crore for the quarter ended September 30, 2018

from Business Line - Money & Banking https://ift.tt/2yIlLg3

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Dhanlaxmi Bank net rises to ₹12 cr

  Crisis-ridden Dhanlaxmi Bank has recorded a 100 per cent growth in Q2 net profit at ₹12.15 crore in FY19, compared to ₹6.06 crore in the correspondi

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Axis Bank Q2 net surges 83%

Lender appoints Amitabh Chaudhry as MD-designate

from Business Line - Money & Banking https://ift.tt/2yOQhF4

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Fall in slippages offers respite to earnings

Radhika MerwinAxis Bank and ICICI Bank, which constitute the chunk of the total NPAs of all private banks, have been under focus over the past one to

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Spike in provisioning leads to huge loss for PNB

NPA provisions of ₹7,733 crore in the Sept quarter paints a very bleak picture for the PSB

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Paytm UPI transactions grow 600% in 6 months; becomes largest UPI player in October

The Chinese e-commerce giant Alibaba-backed Paytm had recorded more than 137 million UPI transactions in the month of September, with about 33% of the overall market share.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2QauwWR

Read more »

IL&FS Financial Services’ exposure to group companies breaches RBI norms in FY 16-18, says Board

The new board of the troubled IL&FS has found that one of the group subsidiaries, IL&FS Financial Services' (IFIN) outstanding loans and investments to other group entities are much higher than the permissible regulatory caps for the three years ending fiscal 2018.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AGXoRm

Read more »

All you need to know about current liquidity crisis at India’s NBFCs

Debt-ridden IL&FS, in which various corporates, as well as mutual funds and insurance firms, had invested through short-term instruments like commercial papers and non-convertible debentures (NCDs), has been defaulting on its several debt-obligations since August.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2DivL3C

Read more »

Paytm UPI transactions grow 600% in 6 months; becomes largest UPI player in October

The Chinese e-commerce giant Alibaba-backed Paytm had recorded more than 137 million UPI transactions in the month of September, with about 33% of the overall market share.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2QauwWR

Read more »

IL&FS Financial Services’ exposure to group companies breaches RBI norms in FY 16-18, says Board

The new board of the troubled IL&FS has found that one of the group subsidiaries, IL&FS Financial Services' (IFIN) outstanding loans and investments to other group entities are much higher than the permissible regulatory caps for the three years ending fiscal 2018.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AGXoRm

Read more »

All you need to know about current liquidity crisis at India’s NBFCs

Debt-ridden IL&FS, in which various corporates, as well as mutual funds and insurance firms, had invested through short-term instruments like commercial papers and non-convertible debentures (NCDs), has been defaulting on its several debt-obligations since August.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2DivL3C

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Forex reserves down by $ 1.444 bn to $ 392.078 bn

Continuing its decline, the country’s foreign exchange reserves slumped by $ 1.444 billion to $ 392.078 billion in the week to October 26 due to a fa

from Business Line - Money & Banking https://ift.tt/2OlhGmQ

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Paytm UPI transactions grow 600% in 6 months; becomes largest UPI player in October

The Chinese e-commerce giant Alibaba-backed Paytm had recorded more than 137 million UPI transactions in the month of September, with about 33% of the overall market share.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2QauwWR

Read more »

IL&FS Financial Services’ exposure to group companies breaches RBI norms in FY 16-18, says Board

The new board of the troubled IL&FS has found that one of the group subsidiaries, IL&FS Financial Services' (IFIN) outstanding loans and investments to other group entities are much higher than the permissible regulatory caps for the three years ending fiscal 2018.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AGXoRm

Read more »

All you need to know about current liquidity crisis at India’s NBFCs

Debt-ridden IL&FS, in which various corporates, as well as mutual funds and insurance firms, had invested through short-term instruments like commercial papers and non-convertible debentures (NCDs), has been defaulting on its several debt-obligations since August.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2DivL3C

Read more »

IL&FS case: Uday Kotak led board warns about Rs 53,000 crore bank exposure; 5 key things to know

Uday Kotak-led Infrastructure Leasing and Financial Services (IL&FS) board warned about banks facing Rs 53,000 crore worth exposure to finance company.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2F0ENnn

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Finance Ministry fears significant NBFC defaults without liquidity lifeline; says, situation fragile

India's Department of Economic Affairs (DEA) fears significant default from large non-banking finance companies (NBFC) and housing finance companies in the next six weeks if no additional liquidity support is provided to these firms, business news website MoneyControl said on Friday.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AGQ2NK

Read more »

Paytm UPI transactions grow 600% in 6 months; becomes largest UPI player in October

The Chinese e-commerce giant Alibaba-backed Paytm had recorded more than 137 million UPI transactions in the month of September, with about 33% of the overall market share.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2QauwWR

Read more »

IL&FS Financial Services’ exposure to group companies breaches RBI norms in FY 16-18, says Board

The new board of the troubled IL&FS has found that one of the group subsidiaries, IL&FS Financial Services' (IFIN) outstanding loans and investments to other group entities are much higher than the permissible regulatory caps for the three years ending fiscal 2018.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AGXoRm

Read more »

All you need to know about current liquidity crisis at India’s NBFCs

Debt-ridden IL&FS, in which various corporates, as well as mutual funds and insurance firms, had invested through short-term instruments like commercial papers and non-convertible debentures (NCDs), has been defaulting on its several debt-obligations since August.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2DivL3C

Read more »

IL&FS case: Uday Kotak led board warns about Rs 53,000 crore bank exposure; 5 key things to know

Uday Kotak-led Infrastructure Leasing and Financial Services (IL&FS) board warned about banks facing Rs 53,000 crore worth exposure to finance company.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2F0ENnn

Read more »

Finance Ministry fears significant NBFC defaults without liquidity lifeline; says, situation fragile

India's Department of Economic Affairs (DEA) fears significant default from large non-banking finance companies (NBFC) and housing finance companies in the next six weeks if no additional liquidity support is provided to these firms, business news website MoneyControl said on Friday.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AGQ2NK

Read more »

Paytm UPI transactions grow 600% in 6 months; becomes largest UPI player in October

The Chinese e-commerce giant Alibaba-backed Paytm had recorded more than 137 million UPI transactions in the month of September, with about 33% of the overall market share.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2QauwWR

Read more »

IL&FS Financial Services’ exposure to group companies breaches RBI norms in FY 16-18, says Board

The new board of the troubled IL&FS has found that one of the group subsidiaries, IL&FS Financial Services' (IFIN) outstanding loans and investments to other group entities are much higher than the permissible regulatory caps for the three years ending fiscal 2018.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AGXoRm

Read more »

All you need to know about current liquidity crisis at India’s NBFCs

Debt-ridden IL&FS, in which various corporates, as well as mutual funds and insurance firms, had invested through short-term instruments like commercial papers and non-convertible debentures (NCDs), has been defaulting on its several debt-obligations since August.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2DivL3C

Read more »

IL&FS case: Uday Kotak led board warns about Rs 53,000 crore bank exposure; 5 key things to know

Uday Kotak-led Infrastructure Leasing and Financial Services (IL&FS) board warned about banks facing Rs 53,000 crore worth exposure to finance company.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2F0ENnn

Read more »

Finance Ministry fears significant NBFC defaults without liquidity lifeline; says, situation fragile

India's Department of Economic Affairs (DEA) fears significant default from large non-banking finance companies (NBFC) and housing finance companies in the next six weeks if no additional liquidity support is provided to these firms, business news website MoneyControl said on Friday.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AGQ2NK

Read more »

Paytm UPI transactions grow 600% in 6 months; becomes largest UPI player in October

The Chinese e-commerce giant Alibaba-backed Paytm had recorded more than 137 million UPI transactions in the month of September, with about 33% of the overall market share.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2QauwWR

Read more »

IL&FS Financial Services’ exposure to group companies breaches RBI norms in FY 16-18, says Board

The new board of the troubled IL&FS has found that one of the group subsidiaries, IL&FS Financial Services' (IFIN) outstanding loans and investments to other group entities are much higher than the permissible regulatory caps for the three years ending fiscal 2018.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AGXoRm

Read more »

All you need to know about current liquidity crisis at India’s NBFCs

Debt-ridden IL&FS, in which various corporates, as well as mutual funds and insurance firms, had invested through short-term instruments like commercial papers and non-convertible debentures (NCDs), has been defaulting on its several debt-obligations since August.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2DivL3C

Read more »

IL&FS case: Uday Kotak led board warns about Rs 53,000 crore bank exposure; 5 key things to know

Uday Kotak-led Infrastructure Leasing and Financial Services (IL&FS) board warned about banks facing Rs 53,000 crore worth exposure to finance company.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2F0ENnn

Read more »

Finance Ministry fears significant NBFC defaults without liquidity lifeline; says, situation fragile

India's Department of Economic Affairs (DEA) fears significant default from large non-banking finance companies (NBFC) and housing finance companies in the next six weeks if no additional liquidity support is provided to these firms, business news website MoneyControl said on Friday.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AGQ2NK

Read more »

Paytm UPI transactions grow 600% in 6 months; becomes largest UPI player in October

The Chinese e-commerce giant Alibaba-backed Paytm had recorded more than 137 million UPI transactions in the month of September, with about 33% of the overall market share.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2QauwWR

Read more »

IL&FS Financial Services’ exposure to group companies breaches RBI norms in FY 16-18, says Board

The new board of the troubled IL&FS has found that one of the group subsidiaries, IL&FS Financial Services' (IFIN) outstanding loans and investments to other group entities are much higher than the permissible regulatory caps for the three years ending fiscal 2018.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AGXoRm

Read more »

All you need to know about current liquidity crisis at India’s NBFCs

Debt-ridden IL&FS, in which various corporates, as well as mutual funds and insurance firms, had invested through short-term instruments like commercial papers and non-convertible debentures (NCDs), has been defaulting on its several debt-obligations since August.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2DivL3C

Read more »

IL&FS case: Uday Kotak led board warns about Rs 53,000 crore bank exposure; 5 key things to know

Uday Kotak-led Infrastructure Leasing and Financial Services (IL&FS) board warned about banks facing Rs 53,000 crore worth exposure to finance company.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2F0ENnn

Read more »

Finance Ministry fears significant NBFC defaults without liquidity lifeline; says, situation fragile

India's Department of Economic Affairs (DEA) fears significant default from large non-banking finance companies (NBFC) and housing finance companies in the next six weeks if no additional liquidity support is provided to these firms, business news website MoneyControl said on Friday.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AGQ2NK

Read more »

Axis Bank Q2 net jumps 83% to Rs 790 cr

Axis Bank on Friday reported a 83 per cent jump in its net profit at Rs 790 crore for the quarter ending September on the back of healthily growth in

from Business Line - Money & Banking https://ift.tt/2Rwhh33

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Axis Bank Q2 profit jumps nearly 83%, beats estimates

Net profit came in at Rs 790 crore ($108.95 million) for the three months ended September 30, compared with Rs 432 crore a year ago. Analysts had expected a net profit of Rs 741 crore, according to Refinitiv data.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2P4GbK9

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China making efforts to make yuan dominant currency: Gita Gopinath

Renminbi has now surpassed the euro as the second most widely-used currency in global trade finance

from Business Line - Money & Banking https://ift.tt/2JytbGR

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Paytm UPI transactions grow 600% in 6 months; becomes largest UPI player in October

The Chinese e-commerce giant Alibaba-backed Paytm had recorded more than 137 million UPI transactions in the month of September, with about 33% of the overall market share.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2QauwWR

Read more »

IL&FS Financial Services’ exposure to group companies breaches RBI norms in FY 16-18, says Board

The new board of the troubled IL&FS has found that one of the group subsidiaries, IL&FS Financial Services' (IFIN) outstanding loans and investments to other group entities are much higher than the permissible regulatory caps for the three years ending fiscal 2018.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AGXoRm

Read more »

All you need to know about current liquidity crisis at India’s NBFCs

Debt-ridden IL&FS, in which various corporates, as well as mutual funds and insurance firms, had invested through short-term instruments like commercial papers and non-convertible debentures (NCDs), has been defaulting on its several debt-obligations since August.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2DivL3C

Read more »

IL&FS case: Uday Kotak led board warns about Rs 53,000 crore bank exposure; 5 key things to know

Uday Kotak-led Infrastructure Leasing and Financial Services (IL&FS) board warned about banks facing Rs 53,000 crore worth exposure to finance company.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2F0ENnn

Read more »

Finance Ministry fears significant NBFC defaults without liquidity lifeline; says, situation fragile

India's Department of Economic Affairs (DEA) fears significant default from large non-banking finance companies (NBFC) and housing finance companies in the next six weeks if no additional liquidity support is provided to these firms, business news website MoneyControl said on Friday.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AGQ2NK

Read more »

SBI to raise ₹4,116 cr through NCDs

PSU lender SBI will raise ₹4,116 crore by issuing Basel III compliant bonds to add up to its tier 2 capital, the bank said Friday.The committee of th

from Business Line - Money & Banking https://ift.tt/2yHOphl

Read more »

Sensex ends 580 points higher to reclaim 35,000-mark; Nifty above 10,550

On the BSE index, Maruti Suzuki, Vedanta, Tata Motors, Adani Ports and IndusInd Bank were the major gainers with their stocks rising as much as 6.64 per cent. On NSE, Nifty Auto and Metal were the top performing sub-indices, gaining as much as 4.15 per cent.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2AGNOh6

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Paytm UPI transactions grow 600% in 6 months; becomes largest UPI player in October

The Chinese e-commerce giant Alibaba-backed Paytm had recorded more than 137 million UPI transactions in the month of September, with about 33% of the overall market share.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2QauwWR

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IL&FS Financial Services’ exposure to group companies breaches RBI norms in FY 16-18, says Board

The new board of the troubled IL&FS has found that one of the group subsidiaries, IL&FS Financial Services' (IFIN) outstanding loans and investments to other group entities are much higher than the permissible regulatory caps for the three years ending fiscal 2018.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AGXoRm

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All you need to know about current liquidity crisis at India’s NBFCs

Debt-ridden IL&FS, in which various corporates, as well as mutual funds and insurance firms, had invested through short-term instruments like commercial papers and non-convertible debentures (NCDs), has been defaulting on its several debt-obligations since August.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2DivL3C

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IL&FS case: Uday Kotak led board warns about Rs 53,000 crore bank exposure; 5 key things to know

Uday Kotak-led Infrastructure Leasing and Financial Services (IL&FS) board warned about banks facing Rs 53,000 crore worth exposure to finance company.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2F0ENnn

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Finance Ministry fears significant NBFC defaults without liquidity lifeline; says, situation fragile

India's Department of Economic Affairs (DEA) fears significant default from large non-banking finance companies (NBFC) and housing finance companies in the next six weeks if no additional liquidity support is provided to these firms, business news website MoneyControl said on Friday.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AGQ2NK

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Paytm UPI transactions grow 600% in 6 months; becomes largest UPI player in October

The Chinese e-commerce giant Alibaba-backed Paytm had recorded more than 137 million UPI transactions in the month of September, with about 33% of the overall market share.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2QauwWR

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IL&FS Financial Services’ exposure to group companies breaches RBI norms in FY 16-18, says Board

The new board of the troubled IL&FS has found that one of the group subsidiaries, IL&FS Financial Services' (IFIN) outstanding loans and investments to other group entities are much higher than the permissible regulatory caps for the three years ending fiscal 2018.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AGXoRm

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All you need to know about current liquidity crisis at India’s NBFCs

Debt-ridden IL&FS, in which various corporates, as well as mutual funds and insurance firms, had invested through short-term instruments like commercial papers and non-convertible debentures (NCDs), has been defaulting on its several debt-obligations since August.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2DivL3C

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IL&FS case: Uday Kotak led board warns about Rs 53,000 crore bank exposure; 5 key things to know

Uday Kotak-led Infrastructure Leasing and Financial Services (IL&FS) board warned about banks facing Rs 53,000 crore worth exposure to finance company.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2F0ENnn

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Finance Ministry fears significant NBFC defaults without liquidity lifeline; says, situation fragile

India's Department of Economic Affairs (DEA) fears significant default from large non-banking finance companies (NBFC) and housing finance companies in the next six weeks if no additional liquidity support is provided to these firms, business news website MoneyControl said on Friday.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AGQ2NK

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All you need to know about current liquidity crisis at India’s NBFCs

Debt-ridden IL&FS, in which various corporates, as well as mutual funds and insurance firms, had invested through short-term instruments like commercial papers and non-convertible debentures (NCDs), has been defaulting on its several debt-obligations since August.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2DivL3C

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IL&FS case: Uday Kotak led board warns about Rs 53,000 crore bank exposure; 5 key things to know

Uday Kotak-led Infrastructure Leasing and Financial Services (IL&FS) board warned about banks facing Rs 53,000 crore worth exposure to finance company.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2F0ENnn

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Finance Ministry fears significant NBFC defaults without liquidity lifeline; says, situation fragile

India's Department of Economic Affairs (DEA) fears significant default from large non-banking finance companies (NBFC) and housing finance companies in the next six weeks if no additional liquidity support is provided to these firms, business news website MoneyControl said on Friday.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AGQ2NK

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Atul Goel takes over as MD, CEO of UCO Bank

Atul Kumar Goel Friday assumed charge as Managing Director and CEO of UCO Bank.Prior to this assignment, he was executive director of Union Bank of I

from Business Line - Money & Banking https://ift.tt/2RvfZFj

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All you need to know about current liquidity crisis at India’s NBFCs

Debt-ridden IL&FS, in which various corporates, as well as mutual funds and insurance firms, had invested through short-term instruments like commercial papers and non-convertible debentures (NCDs), has been defaulting on its several debt-obligations since August.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2DivL3C

Read more »

IL&FS case: Uday Kotak led board warns about Rs 53,000 crore bank exposure; 5 key things to know

Uday Kotak-led Infrastructure Leasing and Financial Services (IL&FS) board warned about banks facing Rs 53,000 crore worth exposure to finance company.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2F0ENnn

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Finance Ministry fears significant NBFC defaults without liquidity lifeline; says, situation fragile

India's Department of Economic Affairs (DEA) fears significant default from large non-banking finance companies (NBFC) and housing finance companies in the next six weeks if no additional liquidity support is provided to these firms, business news website MoneyControl said on Friday.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AGQ2NK

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Atul Goel takes over as MD, CEO of UCO Bank

Prior to this assignment, he was executive director of Union Bank of India. Goel takes over from R K Takkar who completed his three-year tenure on November 1, 2018.

from Banking/Finance-Industry-Economic Times https://ift.tt/2yLIsje

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PNB posts Rs 4,532 cr loss in Q2 as bad loans soar

Fraud-hit Punjab National Bank on Friday posted a staggering loss of Rs 4,532.35 crore for the second quarter ended September 30, 2018 on rising bad

from Business Line - Money & Banking https://ift.tt/2qrDtzD

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RBI vs Centre: Why government wants to increase control over central bank

While historically there have been differences between the RBI and the nation's governments, the extent of the rift and its public nature are unprecedented.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2EZG4Ls

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Axis Bank's deputy managing director V Srinivasan to quit in December

Srinivasan has been at the bank for nine years and has served the last three years as the second in command to chief executive Shikha Sharma.

from Banking/Finance-Industry-Economic Times https://ift.tt/2F0iBd3

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IMF bats for RBI’s independence

Says monitoring situation in India

from Business Line - Money & Banking https://ift.tt/2JxNx2U

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Sensex soars over 400 points on strong global cues; Nifty above 10,500

On the 30-share BSE index, Yes Bank, Asian Paints, Hero MotorCorp, IndusInd Bank and Bajaj Auto were among the major gainers with their stocks surging as much as 4.86 per cent. On NSE, all the sub-indices turned positive with Nifty Auto leading the pack by rising as much as 2.55 per cent.

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

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Banks’ consumer durable loan portfolio falls 82% in Sept

Outstanding loans to the segment dropped a sharp 82% year-on-year (y-o-y) to Rs 3,225 crore on September 28.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2CVgDrK

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IMF says monitoring situation in India, bats for RBI's independence

There were reports of mounting tension between the ministry of finance and the RBI over the autonomy of monetary policy makers after finance minister Arun Jaitley on Tuesday criticised the central bank for failing to check indiscriminate lending during 2008 and 2014 that has led to the present bad loan crisis in the banking industry.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2CW38ba

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Cracking the code: Small steps led to big gains in business ranking

Back room parleys with users — from exporters, architects and developers to company secretaries - helped government to simplify rules. Three rounds of interaction with World Bank (WB) teams in the US too helped as the government sought to set its house in order.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2P40wzf

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'RBI's refusal to engage forced govt to mull extreme legal step'

The Modi government was driven to consider the extreme step of invoking the never-before-used Section 7 of the RBI Act by central bank governor Urjit Patel's reluctance to engage with stakeholders, according to highly-placed sources. "He was scarce and unavailable to bankers, industry and market players even on matters of pressing concern," a highly placed source said.

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

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Banks’ consumer durable loan portfolio falls 82% in Sept

Outstanding loans to the segment dropped a sharp 82% year-on-year (y-o-y) to Rs 3,225 crore on September 28.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2CVgDrK

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Banks’ consumer durable loan portfolio falls 82% in Sept

Outstanding loans to the segment dropped a sharp 82% year-on-year (y-o-y) to Rs 3,225 crore on September 28.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2CVgDrK

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MFIN insists all micro lenders to sign common microfinance code

MACC has been in vogue for over a year while it could not be implemented since several banks and small finance banks are not signatories to this.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Qci6xA

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Reserve Bank of India gives licence to Kirloskar Capital

Kirloskar Oil Engines Ltd (KOEL) distribution network, the company said in a release on Thursday.

from Banking/Finance-Industry-Economic Times https://ift.tt/2qourmY

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RBI should ensure that liquidity crunch does not affect festival demand: CII

Tighter liquidity and high interest cost are affecting consumer-facing industries. The RBI should ensure that there is sufficient liquidity in the sys

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Kirloskar Capital gets RBI nod for NBFC biz

Plans to lend more than ₹1,000 cr in the next 3 years

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RBI’s data localisation directive likely to create inefficiencies: MasterCard CEO

It may fail to provide safety and security to Indian banks, merchants

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Bajpai quits IL&FS board

Even as the newly-constituted board of Infrastructure Leasing & Financial Services Ltd (IL&FS) is mulling various measures, including arrangem

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Reliance Home Finance Q2 profit rises 32% at ₹75 crore

  Reliance Home Finance, a subsidiary of Reliance Capital, reported a 32 per cent increase in second quarter net profit at ₹75 crore, against ₹57 cror

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Sundaram Fin posts ₹154-cr net

Our BureauPrivate sector lender Sundaram Finance has reported a net profit of ₹154 crore for the quarter ended September 30. It had posted a net prof

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SBI withdraws insolvency against Uttam Galva

State Bank of India on Thursday filed an application with the National Company Law Tribunal (NCLT) to withdraw insolvency proceedings against Uttam Ga

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Kill IL&FS’s toxic culture by dismembering it

The $12.8 billion bankruptcy of shadow lender Infrastructure Leasing & Financial Services Ltd. is starting to offer a glimmer of hope.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AFtbC5

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Why did RBI hesitate to open special liquidity window for NBFCs, HFCs? Here’s the answer

The RBI has been under pressure from the government to open such a window to provide relief to troubled NBFCs and HFCs from the cash crunch problem ahead of the festive season as both public sector and private sector banks have completely stopped lending to them after IL&FS crisis.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2RpDuzC

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CA Institute sends notice to IFIN auditor BSR & Associates

KR SrivatsThe CA Institute has sent a show cause notice to BSR & Associates LLP (BSR), one of the statutory auditors of ILFS Financial Services (I

from Business Line - Money & Banking https://ift.tt/2DgSWLo

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HDFC net up 25% at ₹2,467 cr on growth in interest income

HDFC does not have any exposure to debt-laden IL&FS: CEO

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Kill IL&FS’s toxic culture by dismembering it

The $12.8 billion bankruptcy of shadow lender Infrastructure Leasing & Financial Services Ltd. is starting to offer a glimmer of hope.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2AFtbC5

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Why did RBI hesitate to open special liquidity window for NBFCs, HFCs? Here’s the answer

The RBI has been under pressure from the government to open such a window to provide relief to troubled NBFCs and HFCs from the cash crunch problem ahead of the festive season as both public sector and private sector banks have completely stopped lending to them after IL&FS crisis.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2RpDuzC

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Kirloskar group gets RBI nod for NBFC biz; to invest ₹1,000 cr

The Kirloskar group on Thursday said that it has received licence from the Reserve Bank to launch a non-banking finance company (NBFC), Kirloskar Cap

from Business Line - Money & Banking https://ift.tt/2P2DIQp

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Fitch affirms IDBI Bank’s long-term IDR at BB+

Fitch Ratings on Thursday affirmed IDBI Bank’s long-term issuer default rating (IDR) at ‘BB+’ and its viability rating (VR) at ‘ccc’.The rating agenc

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GN Bajpai resigns from IL&FS board

Bajpai, an ex-Sebi chairman, was one of the seven directors appointed on the company's board by the government following NCLT order to supersede previous board.

from Banking/Finance-Industry-Economic Times https://ift.tt/2DgyxWO

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Reliance Capital garners long-term financing of Rs 4,000 cr

Reliance Capital has raised long-term financing of Rs 4,000 crore, investment banking sources said. The funds have been raised through securitisation

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HDFC net rises 25% to ₹2,467 cr in Q2

Mortgage lender HDFC Ltd on Thursday reported 25 per cent rise in its standalone net profit at ₹2,467.08 crore in the second quarter ended September

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Canara Bank hikes FD rates by 20 bps

Canara Bank has announced a treat for its retail customers with increase in interest rate on fixed deposits for one year by 20 basis points (bps) wi

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Veritas Finance raises ₹200 cr in Series D round

Veritas Finance Pvt Ltd, a non-banking finance company that lends to small businesses, has raised ₹200 crore in a Series D round from Norwest Venture

from Business Line - Money & Banking https://ift.tt/2Rnw8wG

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Four unanswered questions in the government versus RBI tussle

It’s clear now that RBI’s brass is comfortable with an RBI board that basically doesn’t function as a board.

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NCLT permits SBI to withdraw insolvency petition against Anrak

On Wednesday, NCLT Hyderabad bench member Ratakonda Murali ordered the petition as dismissed as it was sought to be withdrawn by the SBI.

from Banking/Finance-Industry-Economic Times https://ift.tt/2EUwGsp

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Data localisation creates inefficiencies: MasterCard CEO

Experts tracking payment ecosystem have been attributing increased costs due to data centre infrastructure as the main reason

from Business Line - Money & Banking https://ift.tt/2yIimhi

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RBI governor should work with Indian govt or quit, says RSS

The governor of Reserve Bank of India (RBI) should work in sync with the nation's government to support economic growth or he should resign, said the

from Business Line - Money & Banking https://ift.tt/2qnOPou

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Modi government declines to give NPA details submitted by ex-RBI governor Raghuram Rajan, shows RTI

The Prime Minister's Office (PMO) has termed as a "roving enquiry" an RTI plea seeking to know details of bad loans submitted by the then RBI Governor Raghuram Rajan to it and which finds mention in his response to Parliament's Committee on Estimates.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2qkQZFl

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Modi government declines to give NPA details submitted by ex-RBI governor Raghuram Rajan, shows RTI

The Prime Minister's Office (PMO) has termed as a "roving enquiry" an RTI plea seeking to know details of bad loans submitted by the then RBI Governor Raghuram Rajan to it and which finds mention in his response to Parliament's Committee on Estimates.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2qkQZFl

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Board finds financial mismatch and governance gaps at IL&FS

The newly-appointed board tasked with reviving IL&FS has found instances of financial mismatch and gaps in corporate governance by the erstwhile m

from Business Line - Money & Banking https://ift.tt/2SAbSZW

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Allow reporting of payment data of telcos and insurers to credit bureaus: TransUnion CIBIL

KR SrivatsTransUnion CIBIL, a leading credit information bureau, has knocked at the doors of the RBI and Finance Ministry to allow telecom companies a

from Business Line - Money & Banking https://ift.tt/2AFKLWJ

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RBI plans meeting to resolve differences with government

Our BureauIn an indication that he is ready to resolve the recent differences between the government and the central bank, Governor Urjit Patel has ca

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RBI, govt must take coordinated steps to revive financial sector: CII

Better coordination between the regulator and the government will ensure that the financial sector is well regulated, a report by the Confederation o

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PNB Housing Finance raises Rs 2,450 cr

PNB Housing Finance said on Wednesday it has raised Rs 2,450 crore through commercial papers (CP) amidst reports of tight liquidity situation in the

from Business Line - Money & Banking https://ift.tt/2ADJq2k

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RTI plea for info on former RBI Governor Raghuram Rajan’s bad loans list ‘roving enquiry’: PMO

Applicant had sought details on action taken, name of public authority referred to

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India moves up 23 places in 'Ease of Doing Business' Rankings

The World bank ranks countries based on 10 parameters, including starting a business, construction permits, getting electricity, getting credit, paying taxes, trade across borders, enforcing contracts, and resolving insolvency.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Q75Y0X

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LIC seeks CCI nod for IDBI Bank deal

Insurance major LIC has sought the Competition Commission of India’s (CCI) nod for its acquisition of majority stake in state-owned IDBI Bank.A liste

from Business Line - Money & Banking https://ift.tt/2zg6KBv

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Piramal Capital launches housing finance business in Ahmedabad

Piramal Capital & Housing Finance Ltd, an arm of Piramal Enterprises Ltd, has launched its housing finance business in Ahmedabad. The company alre

from Business Line - Money & Banking https://ift.tt/2SuLzVj

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TPG Growth invests $42 million in Ess Kay Fincorp

Post this deal, TPG is likely to hold around 30% stake in the company, sources told ET, valuing the company at around Rs 1,150 crore.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Dewgvm

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IDFC to sell controlling stake in IDFC Infrastructure Finance to NIIF II

Private lender IDFC Ltd Wednesday said it will sell controlling interest in IDFC Infrastructure Finance Ltd to National Investment and Infrastructure Fund II, for an undisclosed amount.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2qltVWQ

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Markets rebound as Sensex ends 551 points up; Nifty above 10,350

On the BSE index, HDFC, IndusInd Bank, Infosys, Yes Bank, Sun Pharma and Axis Bank were among the major gainers with their stocks rising as much as 5.51 per cent. Except for Nifty Metal, all the sub-indices ended in green on the NSE platform, gaining as much as 4.07 per cent.

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

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Reliance Nippon AMC Q2 net rises 12% to Rs 114.43 cr

Reliance Nippon Life Asset Management (RNAM) on Wednesday reported a 12 per cent growth in consolidated net profit at Rs 114.43 crore in the three mo

from Business Line - Money & Banking https://ift.tt/2ABZqSL

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Chidambaram slams Centre ‘for referring to never-used clause in RBI Act’

Slamming the government for reportedly referring to a never-used clause of the RBI Act directing the central bank to implement its wishes, former Unio

from Business Line - Money & Banking https://ift.tt/2F5FvQv

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Autonomy of Reserve Bank 'essential', says finance ministry

Tensions between the RBI and the government have spilled into the public domain after deputy governor Viral Acharya said last week that undermining central bank independence could be “potentially catastrophic”.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Q6qTRD

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Govt cites never-used powers for resolving issues with RBI

The government has cited the never-before-used power of issuing directions to RBI Governor to seek a resolution to differences with the central bank,

from Business Line - Money & Banking https://ift.tt/2Q6qO0h

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FinMin issues statement on RBI-Govt rift

Autonomy of RBI is essential and accepted governance requirement, says a Finance Ministry statement. Public interest, need of economy guide the RBI, g

from Business Line - Money & Banking https://ift.tt/2P3tOhJ

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Cube Highways close to buying IL&FS’ Seven Road projects

The sale, which is in the final stages, will give the beleaguered IL&FS much needed liquidity of Rs 6,000 crore-Rs 8,000 crore by way of equity returns to repay some of the loans that faced defaults.

from Banking/Finance-Industry-Economic Times https://ift.tt/2SAPcZV

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Bank of Japan keeps interest rates steady; cuts inflation forecast

Japan’s Central bank issues stronger warning on financial risks

from Business Line - Money & Banking https://ift.tt/2qlevC3

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Markets open higher, Sensex up 100 points; Nifty above 10,200

Infosys, Yes Bank, HDFC, Vedanta amd Mahindra and Mahindra were among the major gainers on the BSE index, rising as much as 2.27 per cent. On NSE, sub-indices Nifty IT and PSU Bank surged the most by gaining as much as 1.26 per cent.

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

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After ten quarters of losses, Bank of Maharashtra posts Rs 27-crore profit in July-September

After 10 consecutive quarter of losses, Bank of Maharashtra has posted net profit of `27 crore during the Q2FY19. The bank had reported a net loss of `23.24 crore in the same quarter previous year.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ql3sci

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Analyst Corner: NBFC issue to work in Oberoi Realty’s favour

A change in stance a couple of quarters back (to focus on volumes), backed by the introduction of a subvention scheme, helped Oberoi start the year on a strong note.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2SuYXbI

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Analyst Corner: ‘Hold’ on UBI; valuation to remain under pressure

Union Bank of India’s (UNBK) Q2FY19 results are characterised by an improving asset quality trend even as business momentum continues to be soft. Key highlights: (a) Slippages were restricted to `26.7 bn (3.6% versus >6% over last six quarters).

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2PAVfPu

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Lenders seek bids for Coastal Energen

Lenders to Coastal Energen, led by State Bank of India (SBI), on Tuesday sought bids for a 51% stake in the company for the second time in five months.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ziQIGY

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After ten quarters of losses, Bank of Maharashtra posts Rs 27-crore profit in July-September

After 10 consecutive quarter of losses, Bank of Maharashtra has posted net profit of `27 crore during the Q2FY19. The bank had reported a net loss of `23.24 crore in the same quarter previous year.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ql3sci

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Analyst Corner: NBFC issue to work in Oberoi Realty’s favour

A change in stance a couple of quarters back (to focus on volumes), backed by the introduction of a subvention scheme, helped Oberoi start the year on a strong note.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2SuYXbI

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Analyst Corner: ‘Hold’ on UBI; valuation to remain under pressure

Union Bank of India’s (UNBK) Q2FY19 results are characterised by an improving asset quality trend even as business momentum continues to be soft. Key highlights: (a) Slippages were restricted to `26.7 bn (3.6% versus >6% over last six quarters).

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2PAVfPu

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Lenders seek bids for Coastal Energen

Lenders to Coastal Energen, led by State Bank of India (SBI), on Tuesday sought bids for a 51% stake in the company for the second time in five months.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ziQIGY

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After ten quarters of losses, Bank of Maharashtra posts Rs 27-crore profit in July-September

After 10 consecutive quarter of losses, Bank of Maharashtra has posted net profit of `27 crore during the Q2FY19. The bank had reported a net loss of `23.24 crore in the same quarter previous year.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ql3sci

Read more »

Analyst Corner: NBFC issue to work in Oberoi Realty’s favour

A change in stance a couple of quarters back (to focus on volumes), backed by the introduction of a subvention scheme, helped Oberoi start the year on a strong note.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2SuYXbI

Read more »

Analyst Corner: ‘Hold’ on UBI; valuation to remain under pressure

Union Bank of India’s (UNBK) Q2FY19 results are characterised by an improving asset quality trend even as business momentum continues to be soft. Key highlights: (a) Slippages were restricted to `26.7 bn (3.6% versus >6% over last six quarters).

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2PAVfPu

Read more »

Lenders seek bids for Coastal Energen

Lenders to Coastal Energen, led by State Bank of India (SBI), on Tuesday sought bids for a 51% stake in the company for the second time in five months.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ziQIGY

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After ten quarters of losses, Bank of Maharashtra posts Rs 27-crore profit in July-September

After 10 consecutive quarter of losses, Bank of Maharashtra has posted net profit of `27 crore during the Q2FY19. The bank had reported a net loss of `23.24 crore in the same quarter previous year.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ql3sci

Read more »

Analyst Corner: NBFC issue to work in Oberoi Realty’s favour

A change in stance a couple of quarters back (to focus on volumes), backed by the introduction of a subvention scheme, helped Oberoi start the year on a strong note.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2SuYXbI

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Analyst Corner: ‘Hold’ on UBI; valuation to remain under pressure

Union Bank of India’s (UNBK) Q2FY19 results are characterised by an improving asset quality trend even as business momentum continues to be soft. Key highlights: (a) Slippages were restricted to `26.7 bn (3.6% versus >6% over last six quarters).

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Lenders seek bids for Coastal Energen

Lenders to Coastal Energen, led by State Bank of India (SBI), on Tuesday sought bids for a 51% stake in the company for the second time in five months.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ziQIGY

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RBI’s Prompt Corrective Action just baby steps before weak banks leap

The government demands dilution of restrictions on lending to below ‘Double A’ rated borrowers, which it thinks tapered credit flow and growth

from Banking/Finance-Industry-Economic Times https://ift.tt/2yHKMYO

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As NBFCs struggle, banks set to reclaim lost ground after NPA worries take a backseat

Banks have managed to expand loans at 14.5% year-on year, the highest growth recorded in four years.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Oddndb

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There’s need to engage better with long-term global investors: Ravneet Gill CEO, Deutsche Bank, India

In an interview with ET, Deutsche Bank, India, CEO Ravneet Gill talks about his bank’s retail plan, current liquidity squeeze felt by NBFCs, various reform measures taken by the government.

from Banking/Finance-Industry-Economic Times https://ift.tt/2qlVPCo

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After ten quarters of losses, Bank of Maharashtra posts Rs 27-crore profit in July-September

After 10 consecutive quarter of losses, Bank of Maharashtra has posted net profit of `27 crore during the Q2FY19. The bank had reported a net loss of `23.24 crore in the same quarter previous year.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ql3sci

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Analyst Corner: NBFC issue to work in Oberoi Realty’s favour

A change in stance a couple of quarters back (to focus on volumes), backed by the introduction of a subvention scheme, helped Oberoi start the year on a strong note.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2SuYXbI

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Analyst Corner: ‘Hold’ on UBI; valuation to remain under pressure

Union Bank of India’s (UNBK) Q2FY19 results are characterised by an improving asset quality trend even as business momentum continues to be soft. Key highlights: (a) Slippages were restricted to `26.7 bn (3.6% versus >6% over last six quarters).

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2PAVfPu

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Lenders seek bids for Coastal Energen

Lenders to Coastal Energen, led by State Bank of India (SBI), on Tuesday sought bids for a 51% stake in the company for the second time in five months.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ziQIGY

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After ten quarters of losses, Bank of Maharashtra posts Rs 27-crore profit in July-September

After 10 consecutive quarter of losses, Bank of Maharashtra has posted net profit of `27 crore during the Q2FY19. The bank had reported a net loss of `23.24 crore in the same quarter previous year.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ql3sci

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Analyst Corner: NBFC issue to work in Oberoi Realty’s favour

A change in stance a couple of quarters back (to focus on volumes), backed by the introduction of a subvention scheme, helped Oberoi start the year on a strong note.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2SuYXbI

Read more »

Analyst Corner: ‘Hold’ on UBI; valuation to remain under pressure

Union Bank of India’s (UNBK) Q2FY19 results are characterised by an improving asset quality trend even as business momentum continues to be soft. Key highlights: (a) Slippages were restricted to `26.7 bn (3.6% versus >6% over last six quarters).

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2PAVfPu

Read more »

Lenders seek bids for Coastal Energen

Lenders to Coastal Energen, led by State Bank of India (SBI), on Tuesday sought bids for a 51% stake in the company for the second time in five months.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ziQIGY

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RBI to inject Rs 12,000 cr liquidity in system on Thursday

Ahead of Diwali festival, the Reserve Bank Tuesday announced it will inject Rs 12,000 crore into the system through purchase of government securities on November 1.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2SCWnRg

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RBI member S Gurumurthy complains to Governor on Viral Acharya Speech

Gurumurthy told ET “Acharya going public on issues not discussed in or disclosed to the board which met just two days earlier”.

from Banking/Finance-Industry-Economic Times https://ift.tt/2CPzc0y

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IDFC Bank sells Rs 2,400 crore NPAs to Edelweiss Asset Reconstruction Company

Loans to a pool of 12 companies, including GVK Gautami, GMR Rajahmundry, Monnet Power and Coastal Projects and totalling Rs 2,335 crore, was sold in August for Rs 621crore.

from Banking/Finance-Industry-Economic Times https://ift.tt/2zjgfQf

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RBI’s prompt corrective action just baby steps before weak banks leap

In total, 11 banks are under PCA with a cumulative 18.5% share in advances and 20.8% share in deposits.

from Banking/Finance-Industry-Economic Times https://ift.tt/2zensBq

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FM Arun Jaitley discusses liquidity issues; RBI assures adequate fund flow in system

The Financial Stability and Development Council (FSDC) headed by the finance minister decided that the regulators and the government will keep a close watch on the developing situation and take all necessary measures.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Qb3DCl

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Mastercard says storing India payments data locally in face of new rules

The Indian central bank in April said companies such as Mastercard, Visa and American Express will from October need to store their payments data "only in India" so that the regulator could have "unfettered supervisory access".

from Banking/Finance-Industry-Economic Times https://ift.tt/2zdY4vA

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FSDC discusses NBFC liquidity issues; RBI assures adequate fund flow in system

Reserve Bank Governor Urjit Patel said the liquidity problem in NBFCs is not as severe as is being projected, but assured the government that it would ensure adequate liquidity in the system, sources said after the meeting.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2PCJAzH

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Reserve Bank of India to inject Rs 12,000 crore liquidity in system on Thursday

Last week, the central bank said had announced to inject Rs 40,000 crore into the system in November through purchase of government securities as it looks to meet festive season demand for funds.

from Banking/Finance-Industry-Economic Times https://ift.tt/2CNBMUN

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Bank of Baroda net up 20%

Our BureauBank of Baroda reported a 20 per cent increase in second quarter net profit at ₹425 crore, against ₹355 crore in the year-ago quarter. The p

from Business Line - Money & Banking https://ift.tt/2Swgtg0

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Bank of Mahrashtra posts profit of ₹27 cr

Bank of Mahrashtra net ₹27 croreBank of Mahrashtra reported a turnaround in the second quarter, posting a net profit of ₹27 crore against a net loss

from Business Line - Money & Banking https://ift.tt/2zhCZjA

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United India has a new CMD

  Girish Radhakrishnan has taken charge as the Chairman and Managing Director of Chennai-headquartered PSU non-life company, United India Insurance Co

from Business Line - Money & Banking https://ift.tt/2RpTJgd

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FinMin looks to bury the hatchet with RBI

FSDC meeting discusses liquidity for NBFCs, economic situation

from Business Line - Money & Banking https://ift.tt/2ql3DUY

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MFIs seek funding support from banks, Sidbi

While bigger and well managed NBFC-MFIs are still managing to receive funds, though at a higher cost, the smaller ones are shunned because they are perceived as high-risk.

from Banking/Finance-Industry-Economic Times https://ift.tt/2qixbT1

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To boost financial inclusion, YES Bank to adopt 2,000 villages

This will provide banking solutions to farmers and expand the lender’s customer base in rural areas

from Business Line - Money & Banking https://ift.tt/2F0dERI

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Chola Q2 net profit surges 50% at ₹305 cr

Posts significant improvement in asset quality

from Business Line - Money & Banking https://ift.tt/2AAWS7m

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SBI halves daily ATM withdrawal limit to Rs 20,000 for certain card holders from tomorrow

The withdrawal limit has been curtailed on Classic and Maestro debit cards, held by a large number of the bank customers. However, customers with other variants of SBI debit card can continue to enjoy higher daily withdrawal from ATMs.

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

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After PNB, IL&FS imbroglio, govt may demand more accountability from RBI

Our BureauWith ‘creative tension’ between them getting exacerbated, the government is now likely to press for more accountability from the Reserve Ban

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To be out of woods, new boardlikely to put up IL&FS for sale

Plans to present blueprint to NCLT today; may sell 25 core, non-core assets

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HDFC Ergo H1 net up 13.5% to ₹230 cr

HDFC Ergo General Insurance on Tuesday reported a 13.5 per cent growth in net profit at ₹230 crore during the first half of the current fiscal, compa

from Business Line - Money & Banking https://ift.tt/2Q4pkUh

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SBI halves daily ATM withdrawal to Rs 20K for certain card holders from Wednesday

SBI has halved the daily cash withdrawal limit from ATMs for certain debit-card holders to Rs 20,000 from Wednesday. The withdrawal limit has been cu

from Business Line - Money & Banking https://ift.tt/2AAjHIs

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Dena Bank net loss widens over 2-fold to Rs 416 crore in Q2

State-owned Dena Bank on Tuesday reported an over two-fold jump in its net loss to Rs 416.70 crore in the second quarter ended September 2018. The ba

from Business Line - Money & Banking https://ift.tt/2AzUvSh

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IL&FS crisis: Normalcy to return to system in couple of weeks, says SBI Chief Rajnish Kumar

Kumar said that the Infrastructure Leasing and Financial Services (IL&FS) was a “unique institution” operating in the infrastructure financing and construction space.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2F0GGQO

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ICICI Bank launches co-branded credit card with Amazon

ICICI Bank on Tuesday said that it has entered into an exclusive partnership with ‘Amazon Pay’ to launch a co-branded credit card, ‘Amazon Pay ICICI B

from Business Line - Money & Banking https://ift.tt/2AzzOpA

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IL&FS crisis: Normalcy to return to system in couple of weeks, says SBI Chief Rajnish Kumar

Kumar said that the Infrastructure Leasing and Financial Services (IL&FS) was a “unique institution” operating in the infrastructure financing and construction space.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2F0GGQO

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Union Bank shares jump nearly 9% on earnings lift

Shares of Union Bank of India Tuesday surged nearly 9 per cent after the company reported a net profit of ₹139 crore for the quarter ended September

from Business Line - Money & Banking https://ift.tt/2ETHd7r

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FSDC discusses NBFC liquidity issues; RBI assures adequate fund flow in system

The meeting assumes significance as the FSDC is meeting for the first time after RBI Deputy Governor Viral Acharya raised the issues regarding independence of the central bank.

from Banking/Finance-Industry-Economic Times https://ift.tt/2zeyEhn

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Shriram Transport raises ₹300 cr from NCDs

Non-banking finance company (NBFC) Shriram Transport Finance (STFC) on Tuesday said its ₹-300-crore bond issuance got oversubscribed 2.23 times.The i

from Business Line - Money & Banking https://ift.tt/2OYg9Za

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Jaitley-led panel discusses NBFC liquidity issues; RBI assures adequate fund flow

Reserve Bank governor Urjit Patel said the liquidity problem in NBFCs is not as severe as is being projected, but assured the government that it would ensure adequate liquidity in the system, sources said after the meeting.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Q4gSVd

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FSDC discusses NBFC liquidity issues

RBI assures adequate fund flow in system

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Markets end lower, Sensex sheds 176 points; Nifty below 10,200

On BSE, IndusInd Bank, Coal India, Reliance Industries, Sun Pharma and PowerGrid were among the major losers, sliding as much as 4.18 per cent. Nifty Metal and Financial Service were the worst performing sub-indices on the NSE platform, dropping as much as 1.08 per cent.

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

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Outright sale or a split? India looks for ways to stem the IL&FS rot

The government is trying everything to stop defaults at the lender with $12.6 billion of debt.

from Banking/Finance-Industry-Economic Times https://ift.tt/2PvImpJ

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Jaitley criticises RBI for indiscriminate lending by banks

“Between 2008 and 2014, after the global economic crisis, banks were told to lend indiscriminately”

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IL&FS crisis: Normalcy to return to system in couple of weeks, says SBI Chief Rajnish Kumar

Kumar said that the Infrastructure Leasing and Financial Services (IL&FS) was a “unique institution” operating in the infrastructure financing and construction space.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2F0GGQO

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IL&FS crisis: Normalcy to return to system in couple of weeks, says SBI Chief Rajnish Kumar

Kumar said that the Infrastructure Leasing and Financial Services (IL&FS) was a “unique institution” operating in the infrastructure financing and construction space.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2F0GGQO

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Cross border insolvency: Panel proposes simple trigger for starting proceedings in India

Recognition of a foreign main proceeding is to be presumed as proof of default

from Business Line - Money & Banking https://ift.tt/2Q5lpa1

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IL&FS crisis: Normalcy to return to system in couple of weeks, says SBI Chief

Responding to a question on IL&FS and the impact of shadow banking on the Indian economy, SBI Chairman Rajnish Kumar said since it is an NBFC, it has had a contagion effect.

from Banking/Finance-Industry-Economic Times https://ift.tt/2CSYHxM

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Normalcy to return to system in couple of weeks, says SBI Chief

In wake of the IL&FS crisis, efforts are underway by the Indian government, RBI as well as SBI to try and stabilise the system very quickly , an

from Business Line - Money & Banking https://ift.tt/2Q5JU6K

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Finance minister Arun Jaitley criticises RBI for lending excess

"The central bank looked the other way when banks gave loans indiscriminately during 2008 to 2014," Arun Jaitley said while speaking at an event in New Delhi.

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

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RBI vs government: 10 flash points between Centre and central bank

What is unusual about the current standoff is the number of issues it has spilt over to and the length of time it has gone on for. Interest rate, the perpetual point of sparrings, has been overtaken by several other turf wars. Among other issues are dividend payment, February 12 restructuring, regulation of public sector banks, reserves, board appointments etc.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2qiuLE7

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Call to strengthen public sector financial institutions

Delhi declaration lends support to protect the country’s economic sovereignty

from Business Line - Money & Banking https://ift.tt/2zhPXOm

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IDBI case: CBI finds independent directors clean

The case was recently transferred to AC-3 unit from BS&FC unit Bangalore by CBI director Alok Verma. The agency didn’t respond to a query.

from Banking/Finance-Industry-Economic Times https://ift.tt/2zcAzDa

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HDFC Asset Management net up 15% at Rs 206 cr

HDFC Asset Management has reported a 15 per cent increase in net profit for the quarter ended September 30, 2018 at Rs 205.9 crore compared with Rs

from Business Line - Money & Banking https://ift.tt/2SuuKcX

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HDFC Bank tricked by consultancy firm into giving jobs to 68, one a manager

Gurgaon-based Adeco Consultancy helped these candidates produce forged salary slips, experience certificates and other documents.

from Banking/Finance-Industry-Economic Times https://ift.tt/2qjHXIK

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