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Saturday, November 17, 2018

NPA tag for L&T Infra’s subsidiary

The classification of a special purpose vehicle, Chennai-Tada Tollways as an NPA may impact L&T IDPL’s initial interest in Jaypee Infratech’s Taj Expressway that connects Greater Noida with Agra, bank executives said.

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Friday, November 16, 2018

After Rana Kapoor, who? 5-10 bank chiefs and 1 MNC chief in the fray to head Yes Bank

A search panel entrusted with finding Rana Kapoor's successor to lead Yes Bank has shortlisted multiple names, including those serving a foreign as well as domestic lenders.

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New RBI window may not increase credit to crisis-hit NBFCs, says report

On November 2, RBI had allowed banks to provide PCE for debt raised by non-deposit-taking systematically important non-banking financial companies (NBFCs) and housing finance companies (HFCs).

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FinMin, RBI consensus likely on some issues at Nov 19 meet

Lending to MSMEs, capital framework, surplus norms on agenda

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KVGB gets award for APY

Pension scheme award for KVGB Dharwad-based Karnataka Vikas Grameen Bank (KVGB) has bagged the ‘Makers of Excellence’ award for the special enrolment

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Mobile banking transactions more than treble in Sept

Priyanka PaniFinancial payments and transactions, especially those done through mobile banking apps and mobile wallets, are witnessing fast growth. Ac

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ADB extends $300 mn to support IIFCL’s lending

 The Asian Development Bank (ADB) and the Centre have signed a $300-million loan agreement to support lending by India Infrastructure Finance Company

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Banks under PCA show progress,but position still serious: CARE

A clear picture will emerge only after two quarters, says rating agency

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European Microfinance Award: ESAF SFB emerges runner-up

Our BureauESAF Small Finance Bank was chosen as the runner-up of the much-coveted European Microfinance Award 2018 on the theme ‘Financial inclusion t

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RBI deadline to appoint new CEO will be met: YES Bank

Shares drop 7%; resignation of OP Bhatt will not impact the appointment process, says lender

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5-10 bank chiefs, including an MNC, in the fray to head Yes Bank

The search committee has had three meetings since it was constituted and the last was on Tuesday, the sources said.

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New RBI window may not increase credit to NBFCs: Report

On November 2, RBI had allowed banks to provide PCE for debt raised by non-deposit-taking systematically important non-banking financial companies (NBFCs) and housing finance companies (HFCs).

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CBI registers DA case against retired PNB official accused in Nirav Modi case

The CBI has registered a disproportionate assets case against the retired deputy manager of Punjab National Bank (PNB) Gokulnath Shetty, a key accuse

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Markets end higher for second straight session, Sensex gains nearly 200 points

On the 30-share BSE index, Bharti Airtel, Reliance Industries, Hero MotorCorp, SBI and HDFC were among the major gainers with their stocks surging as much as 9.41 per cent. On NSE, except for Nifty Metal and Private Bank, all other sub-indices finished in green, rising as much as 2.03 per cent.

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MSME liquidity crunch is real: Bank credit to small businesses falls for first time in 14 months

According to experts, there was a shift towards tightening credit flow to MSMEs in September month and this decline in credit flow is expected to go higher for the month of October and December 2018, once the data for the same is available.

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SC segregates pleas against RBI NPA circular, to hear matter on November 28

The matters pertaining to Insolvency and Bankruptcy Code will be heard first followed by those challenging the RBI circular.

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Diwali drained Rs 50,000 crore cash from banks

The biggest weekly increase in currency in circulation was in the week ending January 13, 2017, which saw an additional Rs 52,786 crore flow out of banks as currency presses worked overtime to replace demonetised notes.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Q4nHJu
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Diwali drained Rs 50,000 crore cash from banks

The biggest weekly increase in currency in circulation was in the week ending January 13, 2017, which saw an additional Rs 52,786 crore flow out of banks as currency presses worked overtime to replace demonetised notes.

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Markets open higher, Sensex gains 150 points; Nifty above 10,650

Sun Pharma, Reliance Industries, HDFC Bank, Wipro and Axis Bank were among the top performers on BSE, rising as much as 1,85 per cent. On the NSE platform, sub-indices Nifty Pharma and Financial Service traced major gains, up as much as 1.34 per cent.

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Alternative Investment funds based on Islamic banking tenets yet to take off in India

Almost nine years after the launch of the first Sharia-compliant investment fund in India, the alternative investment funds based on the tenets of the Islamic banking are yet to take off in the country.

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Bajaj bats for Patel on RBI autonomy row

Lauding governor Urjit Patel for staunchly defending the autonomy of the central bank, industry doyen Rahul Bajaj on Thursday said government should

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Alternative Investment funds based on Islamic banking tenets yet to take off in India

Almost nine years after the launch of the first Sharia-compliant investment fund in India, the alternative investment funds based on the tenets of the Islamic banking are yet to take off in the country.

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Thursday, November 15, 2018

How delays are throwing a spanner in the IBC works

After the resolution plan is approved by the Committee of Creditors, NCLT should have no reason to interfere, say experts

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OP Bhatt quits Yes Bank MD & CEO search panel

Our Bureau In further trouble for Yes Bank, former State Bank of India Chairman OP Bhatt on Thursday resigned from the search and selection committee

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NFRA rules notified, ICAI powers clipped

CA Institute’s oversight on auditors of listed entities, large unlisted cos ends

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Diabetes claims rise 26% in FY17-18: SBI General

18-35 age group is the most vulnerable to the disease, says the study

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New SB scheme from Karnataka Bank

  Karnataka Bank has introduced a new savings bank (SB) scheme ‘KBL SB – TASC’, a specialised product for trusts, associates, societies and clubs. Quo

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Tamilnad Mercantile Bank Founder’s Day

Our Bureau S Gurumurthy, non-official Director of the RBI, emphasised the importance of inculcating saving habit among people at the 97th Founder’s

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NBFC debt crisis is starting to hit India’s consumers

Karan Dua, an electronics shop owner in south-central Mumbai, placed his hope of crackling sales on Diwali -- the Hindu festival of lights when Indians splurge on everything from clothes to cars and jewelry to houses.

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NBFC debt crisis is starting to hit India’s consumers

Karan Dua, an electronics shop owner in south-central Mumbai, placed his hope of crackling sales on Diwali -- the Hindu festival of lights when Indians splurge on everything from clothes to cars and jewelry to houses.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2QJZ2Ho
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ING sells 0.7% stake in Kotak Mahindra Bank

Dutch financial major ING Group is understood to have sold 0.7 per cent stake in Kotak Mahindra Bank and is likely to sell remaining stake in the p

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Sunil Mehta panel incorporates 'Sashakt India AMC' for large NPAs

Under the project, the committee had to float an AMC and an AIF to resolve non-performing assets (NPAs) over Rs 500 crore.

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NBFCs meet commitment on roll overs: SBI Chairman Rajnish Kumar

“All (NBFCs) of them have been able to meet their commitment as far as roll overs are concerned,” said SBI Chairman Rajnish Kumar at an event here.

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S&P keeps IDBI Bank ratings on CreditWatch with negative

Global rating agency Standard & Poor’s on Thursday said its ‘BB’ long-term and ‘B’ short-term issuer credit ratings on IDBI Bank remain on Credi

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Markets end higher, Sensex up over 100 points; Nifty above 10,600

On the BSE index, Adani Ports, Kotak Mahindra Bank, Hero MotorCorp and Axis Bank were among the top performers with their stocks surging as much as 4.25 per cent. On NSE, except for Nifty FMCG, all other sub-indices ended in green with Nifty Realty leading the pack by gaining as much as 1.70 per cent

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S&P keeps IDBI Bank’s rating on credit watch

Global rating agency S&P on Thursday said that its ‘BB’ long-term and ‘B’ short-term issuer credit ratings on state-run IDBI Bank continues to re

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Liquidity crunch not systemic, NBFCs meeting payment obligations: Bankers

The current liquidity crunch is not a systemic problem and non-banking financial companies (NBFCs) are meeting payment obligations, top bankers said

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UTI AMC initiates process for appointment of new MD, CEO

UTI Asset Management Company (AMC) has initiated the process for appointment of a new managing director and chief executive. The company, which is th

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Yes Bank shares drop 9% after chairman's departure

Ashok Chawla's departure exacerbates the turmoil the management is in, after the central bank denied an extension to its chief executive officer Rana Kapoor for a second time last month.

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SoftBank commits $3 billion to WeWork

SoftBank is by far the biggest investor in We-Work, which was founded in 2010 and runs shared office spaces. WeWork raised $1 billion from Soft-Bank in August in the form of a convertible note, which would convert to equity at varying share prices depending on the circumstances of next funding round.

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IDBI reports Rs 3,602 cr loss, LIC to pump in Rs 20k cr

Announcing the results the bank’s CEO Rakesh Kumar said that Life Insurance Corporation (LIC) is set to infuse Rs 20,000 crore into the bank, which will immediately improve the bank’s capital adequacy ratio to 16% from 6.22% at present, but might drop after next quarter’s results.

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RBI circular intrudes on govt turf?

While banning debt restructuring schemes, RBI decided to terminate the ‘5/25 scheme’ for bank loans for long-gestation infrastructure and core sector industries. Government officials believe RBI went ahead with the move despite the scheme being announced in Parliament in the 2014 budget.

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NPAs under farm loans rise to Rs 9,000 cr in Punjab

With farmers “stopping” repayment of crop loans because of debt waiver of up to Rs 2 lakh, non-performing assets under agriculture loans have risen

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RBI refuses to give info on NPAs, loan defaulters to Sebi

The banking regulator’s reluctance to do so stems from the prospect of the data leaking as it becomes known to a wider set of people, hurting the business prospects of the companies involved.

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Ashok Chawla resigns as Yes Bank chairman

Private lender Yes Bank said Wednesday its non-executive Chairman Ashok Chawla has resigned with immediate effect.

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Ashok Chawla resigns as Yes Bank chairman

Private lender Yes Bank said Wednesday its non-executive Chairman Ashok Chawla has resigned with immediate effect.

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Ashok Chawla resigns as Yes Bank chairman

Private lender Yes Bank said Wednesday its non-executive Chairman Ashok Chawla has resigned with immediate effect.

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Ashok Chawla resigns as Yes Bank chairman

Private lender Yes Bank said Wednesday its non-executive Chairman Ashok Chawla has resigned with immediate effect.

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RBI slaps these two banks with Rs 3 crore fine each over anti-money laundering norms

The Reserve Bank of India (RBI) has slapped monetary penalty of Rs 3 crore each on two banks for non-compliance with the directions issued by the central bank on Income Recognition and Asset Classification (IRAC) norms, Know Your Customer or Anti-money Laundering (KYC/AML) norms.

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Ashok Chawla resigns as Yes Bank chairman

Private lender Yes Bank said Wednesday its non-executive Chairman Ashok Chawla has resigned with immediate effect.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2B5TUYB
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RBI slaps these two banks with Rs 3 crore fine each over anti-money laundering norms

The Reserve Bank of India (RBI) has slapped monetary penalty of Rs 3 crore each on two banks for non-compliance with the directions issued by the central bank on Income Recognition and Asset Classification (IRAC) norms, Know Your Customer or Anti-money Laundering (KYC/AML) norms.

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Banks' stressed farm loans rise to Rs 9,000 crore

Notably, under the scheme relief, up to Rs 2 lakh would be provided to marginal and small farmers who have crop loans from cooperative institutions, public sector banks and other commercial banks as on March 31, 2017.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Fm4ZJf
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Ashok Chawla resigns as Yes Bank chairman

Private lender Yes Bank said Wednesday its non-executive Chairman Ashok Chawla has resigned with immediate effect.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2B5TUYB
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RBI slaps these two banks with Rs 3 crore fine each over anti-money laundering norms

The Reserve Bank of India (RBI) has slapped monetary penalty of Rs 3 crore each on two banks for non-compliance with the directions issued by the central bank on Income Recognition and Asset Classification (IRAC) norms, Know Your Customer or Anti-money Laundering (KYC/AML) norms.

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Wednesday, November 14, 2018

Battle over reserves: Here's how much money RBI sits on, can part with and how it builds the funds

The government wants a framework for deciding the central bank’s capital requirement, which would give clarity on dividend flows to the government.

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RBI, Centre close to burying hatchet, Urjit Patel may not resign: Sources

The threat that RBI Governor Urjit Patel would quit is also thought to be off the table for now, sources said.

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Ashok Chawla resigns as YES Bank Chairman

Ashok Chawla has resigned as non-executive independent part-time Chairman of private sector lender YES Bank.Making the announcement on Wednesday, Y

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Ashok Chawla resigns as Yes Bank chairman

"Yes Bank announces that Shri Ashok Chawla, Non-Executive Independent Part-Time Chairman, has tendered his resignation from the Bank's Board, with immediate effect, mentioning that during the current transition period, the Bank would need a Chairman who could devote more time and attention," the bank said in a regulatory filing.

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Ageas to acquire 40% stake in Royal Sundaram

Currently Sundaram Finance Ltd holds 75.90% in Royal Sundaram and proposes to divest 25.90%, thereby retaining 50% of its holding, post the divestment.

from Banking/Finance-Industry-Economic Times https://ift.tt/2z9btpA
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Will RBI cut CRR to address government woes on credit growth and liquidity?

One percentage point cut in CRR, or the amount of bank deposits parked with RBI, would release about Rs 1.2 lakh crore liquidity in the system.

from Banking/Finance-Industry-Economic Times https://ift.tt/2qJUAge
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RBI slaps these two banks with Rs 3 crore fine each over anti-money laundering norms

The Reserve Bank of India (RBI) has slapped monetary penalty of Rs 3 crore each on two banks for non-compliance with the directions issued by the central bank on Income Recognition and Asset Classification (IRAC) norms, Know Your Customer or Anti-money Laundering (KYC/AML) norms.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2PsEsi7
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Repco Home’s Q2 net down 4%

Repco Home’s Q2 net down 4% Repco Home Finance has reported a net profit of ₹67 crore for the second quarter ended September 30 against ₹70 crore in

from Business Line - Money & Banking https://ift.tt/2Ps1yFr
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RBI imposes fines on Deutsche Bank, J&K Bank

The Reserve Bank of India has imposed a ₹3-crore fine each on two lenders —- Deutsche Bank and Jammu and Kashmir Bank — for non-compliance of various

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RBI imposes fine of Rs 3 crore each on Deutsche Bank, J&K Bank

The RBI also slapped a fine of Rs 3 crore on state-owned Jammu and Kashmir Bank Ltd for violating similar norms.

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ICICI Bank hikes retail term deposit interest rates

Private sector ICICI Bank on Wednesday announced an increase in interest rates by upto 25 basis points for term-deposits of less than Rs 1 crore. Effe

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HDIL Q2 profit down 11% at ₹54 cr

Realty firm HDIL on Wednesday reported 11 per cent decline in consolidated net profit at ₹54.41 crore for the second quarter of 2018-19.Its net profi

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Ujjivan Financial back in black

Posts ₹44-cr profit in September quarter

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Central Bank posts ₹924-cr loss in Q2

Central Bank of India continued to be in the red, reporting a net loss of ₹924 crore in the second quarter ended September 30, 2018.The public sector

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Shadow banking crisis is starting to hit consumers

In India, NBFCs and lenders to the housing sector have become increasingly important in supporting consumer spending as the nation’s formal banking sector is weighed down by bad loans. Nomura Inc estimates that the loan books of NBFCs and housing lenders have grown at a compounded annual rate of 17 per cent in the past two years, compared with 8 per cent for banks.

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Modi launches APIX technology; what it is, how it will help 2 billion people without bank accounts globally

In a bid to reach two billion people worldwide who are still without bank accounts, Prime Minister Modi launched the APIX (Application Programming Interface Exchange), a banking technology platform in Singapore Wednesday.

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Modi launches APIX technology; what it is, how it will help 2 billion people without bank accounts globally

In a bid to reach two billion people worldwide who are still without bank accounts, Prime Minister Modi launched the APIX (Application Programming Interface Exchange), a banking technology platform in Singapore Wednesday.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2K1ZVIR
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RBI, govt in talks to ease lending norms to boost MSME credit flow

In order to enhance bank lending to MSMEs, the Ministry of Finance and the RBI are in talks to ease certain 'risk-weight' guidelines for lending to MSMEs and align them to globally accepted benchmarks.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2RVBtf1
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Modi launches APIX technology; what it is, how it will help 2 billion people without bank accounts globally

In a bid to reach two billion people worldwide who are still without bank accounts, Prime Minister Modi launched the APIX (Application Programming Interface Exchange), a banking technology platform in Singapore Wednesday.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2K1ZVIR
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Modi launches APIX technology; what it is, how it will help 2 billion people without bank accounts globally

In a bid to reach two billion people worldwide who are still without bank accounts, Prime Minister Modi launched the APIX (Application Programming Interface Exchange), a banking technology platform in Singapore Wednesday.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2K1ZVIR
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RBI, govt in talks to ease lending norms to boost MSME credit flow

In order to enhance bank lending to MSMEs, the Ministry of Finance and the RBI are in talks to ease certain 'risk-weight' guidelines for lending to MSMEs and align them to globally accepted benchmarks.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2RVBtf1
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RBI, govt trying to reach common ground on some key issues

The government and Reserve Bank seem to be veering around to reach an agreeable solution particulary with respect of relaxation of the Prompt Correcti

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Belgium’s Ageas to buy 40% in Royal Sundaram for ₹1,520 cr

Sundaram Finance and its associates ink pact with Ageas for the stake sale

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RBI, govt in talks to ease lending norms to boost MSME credit flow

In order to enhance bank lending to MSMEs, the Ministry of Finance and the RBI are in talks to ease certain 'risk-weight' guidelines for lending to MSMEs and align them to globally accepted benchmarks.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2RVBtf1
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Markets end flat as Sensex, Nifty succumb to profit-booking

Sun Pharma, Kotak Mahindra Bank, TCS, Mahindra and Mahindra were among the worst performers on the BSE index with their stocks losing as much as 7.36 per cent. On NSE, sub-indices Nifty IT and Pharma tracked major losses, down as much as 2.45 per cent.

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IDBI Bank loss widens to ₹3,602 cr in Q2

State-owned IDBI Bank on Wednesday reported widening of net loss to ₹3,602.50 crore during the September quarter of 2018-19, as bad loans jumped subs

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RBI, govt in talks to ease lending norms to boost MSME credit flow

In order to enhance bank lending to MSMEs, the Ministry of Finance and the RBI are in talks to ease certain 'risk-weight' guidelines for lending to MSMEs and align them to globally accepted benchmarks.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2RVBtf1
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Central Bank of India Q2 net loss widens

Mounting bad loans, falling core income push the bank further in the red

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RBI, govt in talks to ease lending norms to boost MSME credit flow

In order to enhance bank lending to MSMEs, the Ministry of Finance and the RBI are in talks to ease certain 'risk-weight' guidelines for lending to MSMEs and align them to globally accepted benchmarks.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2RVBtf1
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Sundaram Finance divests stake in Royal Sundaram at a tidy price

The deal values the insurance company at about Rs 3,800 crore, around 1.1 times one-year forward gross written premium

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RBI, govt in talks to ease lending norms to boost MSME credit flow

In order to enhance bank lending to MSMEs, the Ministry of Finance and the RBI are in talks to ease certain 'risk-weight' guidelines for lending to MSMEs and align them to globally accepted benchmarks.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2RVBtf1
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RBI, govt in talks to ease lending norms to boost MSME credit flow

In order to enhance bank lending to MSMEs, the Ministry of Finance and the RBI are in talks to ease certain 'risk-weight' guidelines for lending to MSMEs and align them to globally accepted benchmarks.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2RVBtf1
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RBI, govt in talks to ease lending norms to boost MSME credit flow

In order to enhance bank lending to MSMEs, the Ministry of Finance and the RBI are in talks to ease certain 'risk-weight' guidelines for lending to MSMEs and align them to globally accepted benchmarks.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2RVBtf1
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Prime Minister Modi launches APIX technology in Singapore

Prime Minister Modi launched the technology platform with Deputy Prime Minister of Singapore T Shanmugaratnam after he became the first leader to address the prestigious Fintech Festival in Singalore.

from Banking/Finance-Industry-Economic Times https://ift.tt/2z4brPy
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RBI, govt in talks to ease lending norms to boost MSME credit flow

In order to enhance bank lending to MSMEs, the Ministry of Finance and the RBI are in talks to ease certain 'risk-weight' guidelines for lending to MSMEs and align them to globally accepted benchmarks.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2RVBtf1
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NCLAT fixes next hearing on IL&FS moratorium for Dec 17

Lenders have opposed the moratorium over loans

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NCLAT fixes next hearing on IL&FS moratorium for Dec 17

Lenders have opposed the moratorium over loans

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Most life insurance complaints pertain to mis-selling

Mis-selling is done by forging the proposer’s signature on forms or by selling long-term plans even though the proposer does not have the capacity to maintain the policy beyond the initial payment.

from Banking/Finance-Industry-Economic Times https://ift.tt/2QGUMIL
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Cash-starved lenders shackle consumers in fastest-growing nation

Businesses are seeing sluggish sales as India’s shadow lending industry grows more cautious about extending new loans.

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Sensex, Nifty show gains amid recovery in rupee

Asian Paints, Tata Steel, Hindustan Unilever, ONGC and Maruti Suzuki were among the top performers on the BSE platform, rising as much as 3.72 per cent. On NSE, Nifty PSU Bank and Metal were the outperforming sub-indices, gaining as much as 0.80 per cent.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2PrIVSb
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PM Modi pitches India as favourite investment destination at Fintech Festival in Singapore

He was delivering a keynote address at the Singapore Fintech Festival where he stressed India as a favourable destination for fintech companies and startups.

from Banking/Finance-Industry-Economic Times https://ift.tt/2DDVK5o
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RBI vs Government: Battle over reserves central bank should hold

Among the points of confl ict between the RBI and the government is the level of reserves the central bank should hold.

from Banking/Finance-Industry-Economic Times https://ift.tt/2FmjSLK
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RBI may pull out nominees from PSBs if govt seeks easy PCA rules

The government has maintained that higher capital norms translate into additional capital requirements, restricting lending potential and income generation.

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Tuesday, November 13, 2018

RBI to inject Rs 12,000 crore liquidity on November 15

The RBI said it has the right to decide on the quantum of purchase of individual securities and can also accept offers for less than Rs 12,000 crore.

from Banking/Finance-Industry-Economic Times https://ift.tt/2PsHRNM
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China’s biggest bank to invest $200 million in Indian SMEs

The Indian unit of China's largest bank, the Industrial and Commercial Bank of China has set up USD 200 million fund for investing in the promising Indian micro, small and medium enterprises and ventures.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OEwblW
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Carlyle group exits joint stake sale with PNB in PNB Housing Finance

The joint sale process to divest equity in PNB Housing Finance (PNBHFL) by PNB and Carlyle Group has been terminated post the latter’s exit from the

from Business Line - Money & Banking https://ift.tt/2DjLBKr
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Union Bank of India turns 100

Union Bank of India on Sunday celebrated its 100th Foundation Day in Mumbai. Established on November 11, 1919, the bank’s corporate office in Mumbai

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IDFC First Bank may start operations from New Year

IDFC First Bank, the new entity formed after the amalgamation of Capital First with IDFC Bank, is set to launch operations from the New Year.“Almost

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NBFC crisis, rising rates shatter CFOs, optimism at 19-quarter low

Business information company Dun & Bradstreet polled 300 CFOs across all sectors to judge their optimism about financial health of their companies, business risk environment and macroeconomic scenario in the country.

from Banking/Finance-Industry-Economic Times https://ift.tt/2K2scPp
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China’s biggest bank to invest $200 million in Indian SMEs

The Indian unit of China's largest bank, the Industrial and Commercial Bank of China has set up USD 200 million fund for investing in the promising Indian micro, small and medium enterprises and ventures.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OEwblW
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China’s biggest bank to invest $200 million in Indian SMEs

The Indian unit of China's largest bank, the Industrial and Commercial Bank of China has set up USD 200 million fund for investing in the promising Indian micro, small and medium enterprises and ventures.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OEwblW
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More pain seen in NBFC sector in next few months

The 50 largest NBFCs are looking for Rs. 700 billion in just the current month. The sector needs Rs 1.2 trillion in the current quarter and will have to refinance 40 percent of its debt over the next 12 months.

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Mastercard, RBL Bank work on digital payments

As part of efforts to step up digital payments, Mastercard and RBL Bank have added over 5 lakh point-of-sale locations in the last two years, since

from Business Line - Money & Banking https://ift.tt/2DDZpk3
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GIC Re profit plunges 64% to ₹514 cr in Q2

State-run General Insurance Corporation of India (GIC Re) on Tuesday reported a decline of 64 per cent in net profit at ₹513.84 crore for the second

from Business Line - Money & Banking https://ift.tt/2OHXKLh
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IndusInd Bank calls off plan to buy IL&FS Securities Services

Private sector lender IndusInd Bank on Tuesday called off plans to acquire the entire stake in IL&FS Securities Services (ISSL).“The share purch

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Karnataka Bank opens its first digital branch

Our Bureau Karnataka Bank has opened its first-ever digital branch in the country in Bengaluru. This happens to be the 821st branch of the bank. Ram

from Business Line - Money & Banking https://ift.tt/2zPBv0x
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Corporation Bank reports ₹103-cr profit in Q2

Corporation Bank registered a net profit of ₹103.01 crore in the second quarter of 2018-19 as against a loss of ₹1,035.2 crore in the corresponding p

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“Data localisation is not protectionist”

FICCI President backs RBI's move

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More pain seen in NBFC sector in next few months

The 50 largest NBFCs are looking for Rs. 700 billion in just the current month. The sector needs Rs 1.2 trillion in the current quarter and will have to refinance 40 percent of its debt over the next 12 months.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2qI0cYv
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Allahabad Bank Q2 loss at ₹1,823 cr on higher NPA provisions

State-owned Allahabad Bank on Tuesday reported a net loss of ₹1,822.71 crore in the September quarter of 2018-19 financial year, on higher provisioni

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More pain seen in NBFC sector in next few months

The 50 largest NBFCs are looking for Rs. 700 billion in just the current month. The sector needs Rs 1.2 trillion in the current quarter and will have to refinance 40 percent of its debt over the next 12 months.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2qI0cYv
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More pain seen in NBFC sector in next few months

The 50 largest NBFCs are looking for Rs. 700 billion in just the current month. The sector needs Rs 1.2 trillion in the current quarter and will have to refinance 40 percent of its debt over the next 12 months.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2qI0cYv
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Sensex ends 331 points up to reclaim 35,000-mark, Nifty above 10,550

On the BSE index, NTPC, ICICI Bank, Axis Bank, Reliance Industries and HDFC were among the top performers, up as much as 2.78 per cent. On NSE, sub-indices Nifty Pvt Bank and Finacial Service outperformed, rising as much as 1.16 per cent.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2zU9tki
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Lenders oppose moratorium against IL&FS at NCLAT

The banks have also asked the appellate tribunal to allow them not to classify IL&FS account as NPA in case of non-payment.

from Banking/Finance-Industry-Economic Times https://ift.tt/2T4aLC6
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RBI may keep repo rate unchanged in rest of FY19: Report 

With headline inflation expected to remain benign in the second half of the current fiscal, a report on Monday said that the Reserve Bank of India (RB

from Business Line - Money & Banking https://ift.tt/2DBzCsG
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Union Bank to raise up to Rs 600 cr by issuing shares under ESPS

The board of Union Bank of India has cleared a proposal to raise up to Rs 600 crore by issuing shares to its staff under the employee share purchase

from Business Line - Money & Banking https://ift.tt/2RO7o0L
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More pain seen in NBFC sector in next few months

The 50 largest NBFCs are looking for Rs. 700 billion in just the current month. The sector needs Rs 1.2 trillion in the current quarter and will have to refinance 40 percent of its debt over the next 12 months.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2qI0cYv
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Siddharth Tiwari joins BIS as Chief Representative for Asia, Pacific

The Bank for International Settlements (BIS) has appointed Siddharth Tiwari as the Chief Representative for Asia and the Pacific.

from Banking/Finance-Industry-Economic Times https://ift.tt/2OGKA0Z
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Retail inflation rate drops, giving RBI breathing space

The rate, which includes food and energy prices, dropped in October to 3.31 per cent on a year-on-year basis, the slowest pace in 13 months and remains below the Reserve Bank of India's (RBI) medium-term target of 4 per cent for a third straight month. The September inflation rate was a revised 3.70 per cent.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2qKHBv2
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View: India's shadow banks may need to suffer some pain

RBI seems convinced that India’s shadow banks need to clean up their act, and they won’t if they get easy money

from Banking/Finance-Industry-Economic Times https://ift.tt/2JZsBlQ
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DHFL to raise Rs 1,500 cr on Nov 15

Dewan Housing Finance Corporation said on Monday the company plans to raise Rs 1,500 crore through an issue of bonds. The company proposes to issue se

from Business Line - Money & Banking https://ift.tt/2QytRyC
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IL&FS crisis aftermath: Steps for asset monetisation initiated

Announcement means an agreement struck in June by IL&FS’ erstwhile board to sell ISSL to IndusInd Bank is nullified.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OIglHb
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Sensex, Nifty turn positive as rupee recovers

On the BSE platform, Asian Paints, Power Grid, Adani Ports and Axis Bank were among the major gainers with their stocks rising as much as 1.61 per cent. On NSE, sub-indices Nifty Auto, IT and Metal were showing gains as much as 0.81 per cent.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Q2glXf
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Debit cards have ‘come of age’ in Bharat

Value of debit card-based transactions grew over 25% in Q2

from Business Line - Money & Banking https://ift.tt/2DfWPPU
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IL&FS crisis aftermath: Steps for asset monetisation initiated

Announcement means an agreement struck in June by IL&FS’ erstwhile board to sell ISSL to IndusInd Bank is nullified.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OIglHb
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NCLAT to hear government plea on IL&FS moratorium today

If the moratorium is denied a lot of bandwidth will go into following up the cases. The court will consider the progress report and a lot depend on what ministry of corporate affairs presents.

from Banking/Finance-Industry-Economic Times https://ift.tt/2JYMEAD
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Delay in solving bankruptcy cases is hurting banks: ICRA

The number of corporate debtors admitted by the NCLT but are yet to be resolved through the corporate insolvency resolution process is growing steadily each quarter.

from Banking/Finance-Industry-Economic Times https://ift.tt/2PX4qJY
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Bain, Baring, KKR, others in race for Aadhar Housing

As per the indicative offers, the investors will acquire 51% stake valuing the housing finance firm at around Rs 1,500-2,000 crore.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Poxn1X
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IL&FS crisis aftermath: Steps for asset monetisation initiated

Announcement means an agreement struck in June by IL&FS’ erstwhile board to sell ISSL to IndusInd Bank is nullified.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OIglHb
Read more »

IL&FS crisis aftermath: Steps for asset monetisation initiated

Announcement means an agreement struck in June by IL&FS’ erstwhile board to sell ISSL to IndusInd Bank is nullified.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2OIglHb
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UCO Bank Q2 net loss widens to Rs 1,136 crore as bad loans soar

State-owned UCO Bank Monday reported widening of net loss to Rs 1,136.44 crore for the second quarter of 2018-19, on rising bad loans.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2PRdHTX
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EPS to enter new business lines in digital banking

The company has partnered with Morocco-based m2m and Dubai-headquartered Ascent Business Group to use their products for these segments, said Thyagarajan Seshadri, president, banking relations at EPS.

from Banking/Finance-Industry-Economic Times https://ift.tt/2RPp38h
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Monday, November 12, 2018

Bain Capital, Baring Asia and Chrys Capital among investors bidding for Aadhar Housing Finance

As per the indicative offers, the investors will acquire 51 percent stake valuing the housing finance firm at around Rs 1500-2000 crore.

from Banking/Finance-Industry-Economic Times https://ift.tt/2K1oPbG
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Cholamandalam Investment looks at improving asset quality

Company focusses on digital innovation

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IL&FS cancels deal with IndusInd Bank

To seek fresh EoIs for asset monetisation

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We’re bringing down corporate NPAs, says Dena Bank chief

Dena Bank is working on bringing down the corporate non-performing assets (NPAs) during the current and next quarters through recovery in some major

from Business Line - Money & Banking https://ift.tt/2QCzKuT
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Banks lose ₹4,000-cr income over insolvency delay

Banks have lost an additional income of ₹4,000 crore due to the delay in resolution of the initial 12 large insolvency cases referred by the RBI last

from Business Line - Money & Banking https://ift.tt/2qHm71X
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Uco Bank seeks Rs 7000 crore capital from the government

The bank's capital adequacy ratio slipped to 7.57% against the stipulated 9% while its net loss widened to Rs 1136 crore in the September quarter owing to fresh slippages worth Rs 2000 crore.

from Banking/Finance-Industry-Economic Times https://ift.tt/2T3FwHz
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‘PFRDA must do more to incentivise points of presence to promote NPS’

Allow higher initial subscriber registration charge, says MD & CEO of SBI Pension Fund

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BoI posts ₹1,156-cr loss in Q2 on bad loans

Public sector lender Bank of India posted a net loss of ₹1,156 crore in the second quarter of this fiscal against a net profit of ₹179 crore logged i

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Delays beyond 270 days at NCLT cost banks Rs 4,000 cr in foregone interest: Icra

The RBI had mandated these dozen accounts as the first ones to be resolved under the IBC. However, these cases have faced legal challenges right from the start, at every stage, resulting in delays in resolutions.

from Banking/Finance-Industry-Economic Times https://ift.tt/2qGFVm7
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UCO Bank Q2 net loss widens to Rs 1,136 crore as bad loans soar

State-owned UCO Bank Monday reported widening of net loss to Rs 1,136.44 crore for the second quarter of 2018-19, on rising bad loans.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2PRdHTX
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IL&FS new board to rebid broking arm ISSL

The new board wants to follow a transparent process of bidding for businesses to raise funds and settle dues. Money from IndusInd Bank had not yet come into IL&FS account.

from Banking/Finance-Industry-Economic Times https://ift.tt/2z7aXs2
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UCO Bank Q2 net loss widens to Rs 1,136 crore as bad loans soar

State-owned UCO Bank Monday reported widening of net loss to Rs 1,136.44 crore for the second quarter of 2018-19, on rising bad loans.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2PRdHTX
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PM Modi to launch banking solution for 2 billion people without bank accounts globally; key things to know

Prime Minister Narendra Modi will address some 30,000 people at the world's largest gathering of financial technology companies in Singapore this week and launch a banking solution for two billion people without bank accounts worldwide.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2FuBxRF
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PNB Housing Finance obtains refinance sanction of Rs 3,500 crore from NHB

PNB Housing Finance Monday said it has obtained refinance sanction of Rs 3,500 crore from the National Housing Bank (NHB) in October 2018.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2QAc3TL
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Retail inflation cools to 3.31% in October; September factory output at 4.5%

October marked the third straight month in which the retail inflation has been below the Reserve Bank of India's medium-term target of 4 per cent, supporting the central bank's surprise decision to hold interest rates at its meeting last month.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2FhC0Gt
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PM Modi to launch banking solution for 2 billion people without bank accounts globally; key things to know

Prime Minister Narendra Modi will address some 30,000 people at the world's largest gathering of financial technology companies in Singapore this week and launch a banking solution for two billion people without bank accounts worldwide.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2FuBxRF
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PNB Housing Finance obtains refinance sanction of Rs 3,500 crore from NHB

PNB Housing Finance Monday said it has obtained refinance sanction of Rs 3,500 crore from the National Housing Bank (NHB) in October 2018.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2QAc3TL
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Bank of India registers net loss of ₹1,156 cr in Q2

State-owned Bank of India on Monday reported a net loss of ₹1,156.25 crore for the quarter ended September this year due to a jump in provisions for

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Markets end lower ahead of macro data, Sensex dives nearly 350 points

On the 30-share BSE pack, except Tata Steel, Kotak Mahindra Bank, Infosys, TCS and L&T, all other stocks finished in red, losing as much as 4.66 per cent. On the NSE platform, only Nifty IT surged as much as 0.67 per cent and all other sub-indices tracked losses as much as 2.44 per cent.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2qFAh3E
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