Mauritius’ SBM gets RBI approval to merge operations with its Indian subsidiary

The Reserve Bank of India Saturday said it has approved merger of SBM (Mauritius), India with SBM Bank (India). from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2U26Y...

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Bank unions threaten nationwide strike on December 26

The strike will be organised by the United Forum of Bank Unions, an umbrella body of nine employee and officer unions. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2E6Y4...

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Mauritius’ SBM gets RBI approval to merge operations with its Indian subsidiary

The Reserve Bank of India Saturday said it has approved merger of SBM (Mauritius), India with SBM Bank (India). from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2U26Y...

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Bank unions threaten nationwide strike on December 26

The strike will be organised by the United Forum of Bank Unions, an umbrella body of nine employee and officer unions. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2E6Y4...

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Unions threaten nationwide strike on Dec 26 to protest merger of banks

The strike will be organised by the United Forum of Bank Unions (UFBU), an umbrella body of nine employee and officer unions. from Banking/Finance-Industry-Economic Times https://ift.tt/2Qpi0...

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Unions threaten nationwide strike on Dec 26 to protest merger of banks

The merged entity will be third largest lender of the country after State Bank of India (SBI) and HDFC Bank. from Business Line - Money & Banking https://ift.tt/2rh8V...

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Unions threaten nationwide strike on Dec 26 to protest merger of 3 banks

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

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Two top officials of co-op bank in Maharashtra held for embezzlement

They opened 685 fake loan accounts in various branches of the bank by manipulating bank records and pulled out the funds for personal gains. from Business Line - Money & Banking https://ift.tt/2U8lg...

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Tata Capital aims for 25-30% growth despite NBFC woes

Tata Capital, the financial services arm of the country’s largest business house, is sticking to its 25-30% growth target for FY19 despite the turbulence in the non-banking financial companies’ sector (NBFC). from Banking/Finance-Industry-Economic Times https://ift.tt/2Q4Jx...

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Bank unions reject IBA's 8% wage hike offer

"It is far below our expectation. We have urged upon them to improve their offer," said Rajen Nagar, president at All Indian Bank Employees Association. from Banking/Finance-Industry-Economic Times https://ift.tt/2E9TC...

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Maverick accountant Swaminathan Gurumurthy shaking up Reserve Bank of India

Gurumurthy, who joined the RBI in August, is now one of the country's most influential economic voices. from Banking/Finance-Industry-Economic Times https://ift.tt/2AACF...

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UIDAI asks banks not to discontinue Aadhaar payment system

UIDAI said the matter has been carefully examined, and the apex court has upheld the constitutionality of the Aadhaar programme, specifically Section 7 of the Aadhaar Act. from Banking/Finance-Industry-Economic Times https://ift.tt/2AACo...

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IBA’s revised wage-hike offer of 8% rejected by bank unions

Bank unions, on Friday, rejected the Indian Banks’ Association’s improved offer of an 8 per cent hike in wages against 6 per cent earlier under the in from Business Line - Money & Banking https://ift.tt/2Pdnv...

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Retired bank officers’ body seeks bipartite forum for pension negotiations

Our Bureau Canara Bank Retired Officers’ Association (CBROA) has urged the Indian Banks’ Association (IBA) to hold discussions with retirees’ organisa from Business Line - Money & Banking https://ift.tt/2ABPk...

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IDFC Bank to seek shareholders’ nod next month for name change

The proposed deal has already received approvals from the National Housing Bank, CCI, BSE, NSE, RBI, shareholders and creditors of the companies. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2E6g2...

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Bank loans to NBFCs grow slower in October on monthly basis

Banks had however lent support to NBFCs by purchasing loan portfolio from them to help them tide over in liquidity crunch. from Banking/Finance-Industry-Economic Times https://ift.tt/2DQwV...

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AU Small Finance Bank raises Rs 500 cr via NCD

AU Small Finance Bank on Friday said it has raised tier II capital of Rs 500 crore through non convertible bonds issued on a private placement basis. from Business Line - Money & Banking https://ift.tt/2FOlJ...

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SBI says no fresh divestment in general insurance arm

State Bank of India (SBI) said its 4 per cent stake sale in general insurance arm took place in September this year and there is no fresh divestment from Business Line - Money & Banking https://ift.tt/2rgiW...

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ECB launches real-time payments in challenge to tech giants

TIPS allows consumers and businesses across 19-nation euro area to send and receive money instantaneously from Business Line - Money & Banking https://ift.tt/2zvr7...

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Non-food bank credit rose by 13.4% in October

Non-food bank credit rose by 13.4 per cent year on year in October as compared to a growth of 6.6 per cent in the year-ago month, according to RBI da from Business Line - Money & Banking https://ift.tt/2Qs6E...

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Governance lapses, poor compliance culture led RBI to trim Kapoor’s term at Yes Bank: Sources

Kapoor is the second private sector bank chief after Axis Bank’s Shikha Sharma to have been asked to leave mid-way. from Business Line - Money & Banking https://ift.tt/2SfKy...

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Government plans to set up NBFC with Rs 2,000 crore to fund food processing firms

Union Food Processing Minister Harsimrat Kaur Badal termed food processing as "golden sector" and said India has the potential to become world food factory. from Banking/Finance-Industry-Economic Times https://ift.tt/2RmRW...

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Govt plans to set up NBFC for lending food processing firms

The government has planned to set up a non-banking financial company (NBFC) with an initial corpus of Rs 2,000 crore to fund food processing industr from Business Line - Money & Banking https://ift.tt/2SnaP...

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SJM urge PM to intervene in ‘Brokers Regulations’ by IRDA

Urges to undo discrimination against domestic investors from Business Line - Money & Banking https://ift.tt/2Pb5f...

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Sensex, Nifty end higher ahead of Q2 GDP data

Yes Bank, Wipro, Kotak Mahindra Bank, Mahindra & Mahindra and Infosys were among the top gainers on the BSE index, rising as much as 5.92 per cent. On NSE, sub-indices Nifty Realty, Pharma and IT surged the most by gaining as much as 2.20 per cent. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2ACd2...

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IDFC Bank to seek shareholders' nod next month for name change

The bank's board on January 13, 2018 had approved a composite scheme of amalgamation of Capital First, Capital First Home Finance and Capital First Securities (collectively referred as amalgamating companies) with IDFC Bank. from Banking/Finance-Industry-Economic Times https://ift.tt/2Rpma...

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IDFC Bank to seek shareholders’ nod next month for name change

IDFC Bank will seek shareholders’ nod next month to change its name to IDFC First Bank Ltd in the process of amalgamating Capital First and its entit from Business Line - Money & Banking https://ift.tt/2KIuM...

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IOB plans to raise Rs 300 cr via bonds

The board of directors of Indian Overseas Bank has approved raising up to Rs 300 crore on a private placement basis through globally accepted Basel I from Business Line - Money & Banking https://ift.tt/2E5qF...

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SoftBank sets indicative IPO price at Y1,500 per share

Price unchanged from initial estimate on November 12 from Business Line - Money & Banking https://ift.tt/2Q14O...

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SBI and BoI seek bids for NPAs worth Rs 7,000 crore

Seven months after the Supreme Court (SC) ordered the maintenance of status quo on insolvency proceedings against manufacturing firm Jayaswal Neco Industries, State Bank of India (SBI) on Thursday sought bids from asset reconstruction companies (ARCs) for the company. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2rca4...

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Yes Bank shares turn positive, up more than 5%

Shares of the private lender had tumbled 9.5 per cent (intra-day) on Thursday after Icra downgraded its long-term ratings. "The rating downgrade considers the series of resignations from the board of directors, which raises concerns on corporate governance at the bank," Icra said in a note on Wednesday. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2QpTP...

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Rupee rises 21 paise to 3-month high against US dollar

Forex traders said, increased selling of the American currency by exporters and banks and sustained foreign fund inflows also supported the domestic currency. At the interbank forex market, the rupee opened higher at 69.68 and rose further to quote at 69.64, showing a rise of 21 paise over its previous close. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2zxNs...

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Sensex, Nifty open higher ahead of September quarter GDP numbers

On the BSE platform, Yes Bank, Mahindra & Mahindra, ONGC, Wipro and Infosys were among the top gainers with their stocks rising as much as 4.83 per cent. On NSE, all the sub-indices were trading in green with Nifty PSU Bank leading the pack, gaining 1.02 per cent. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Qxce...

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Deposit rates may rise as credit grows faster

Fresh credit to deposit ratio is at 122% as of November 9, compared with 90% a year ago, show the latest data from the Reserve Bank of India (RBI). from Banking/Finance-Industry-Economic Times https://ift.tt/2Q0xy...

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NCLT admits insolvency plea against power company EMC

NCLT took action following a petition filed by operational creditors to the company and appointed an interim resolution professional, prompting the financial creditors led by State Bank of India to swing into action. from Banking/Finance-Industry-Economic Times https://ift.tt/2FONT...

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SBI and BoI seek bids for NPAs worth Rs 7,000 crore

Seven months after the Supreme Court (SC) ordered the maintenance of status quo on insolvency proceedings against manufacturing firm Jayaswal Neco Industries, State Bank of India (SBI) on Thursday sought bids from asset reconstruction companies (ARCs) for the company. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2rca4...

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Cracks in Liberty House Group deal due to valuation, dues disagreement

Monitoring committee will petition NCLT to seek more time to look for new takers, among other options. from Banking/Finance-Industry-Economic Times https://ift.tt/2BFxk...

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SBI blames adverse policies for missing private capital in infrastructure

Remarks come days after Union minister Nitin Gadkari blamed the Reserve Bank for "complicating" project finance and asked the central bank to aid infrastructure creation. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ShwP...

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Yes Bank’s Rana Kapoor unlikely to contest for Chairman job – What we know so far

Yes Bank Managing Director and CEO Rana Kapoor is unlikely to be in the fray for the post of chairman which fell vacant following the resignation of Ashok Chawla earlier this month, sources said Thursday. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2E7k7...

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RBI finally listens, gives another liquidity boost to NBFCs; relaxes asset securitisation norms

India's NBFCs, loosely known as shadow banks, are facing stress on their balance sheets after a debt crisis hit a large infrastructure funding company in September. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ShwM...

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SBI blames adverse policies for missing private capital in infrastructure

Remarks come days after Union minister Nitin Gadkari blamed the Reserve Bank for "complicating" project finance and asked the central bank to aid infrastructure creation. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ShwP...

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Yes Bank’s Rana Kapoor unlikely to contest for Chairman job – What we know so far

Yes Bank Managing Director and CEO Rana Kapoor is unlikely to be in the fray for the post of chairman which fell vacant following the resignation of Ashok Chawla earlier this month, sources said Thursday. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2E7k7...

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RBI finally listens, gives another liquidity boost to NBFCs; relaxes asset securitisation norms

India's NBFCs, loosely known as shadow banks, are facing stress on their balance sheets after a debt crisis hit a large infrastructure funding company in September. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ShwM...

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SBI blames adverse policies for missing private capital in infrastructure

Remarks come days after Union minister Nitin Gadkari blamed the Reserve Bank for "complicating" project finance and asked the central bank to aid infrastructure creation. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ShwP...

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Yes Bank’s Rana Kapoor unlikely to contest for Chairman job – What we know so far

Yes Bank Managing Director and CEO Rana Kapoor is unlikely to be in the fray for the post of chairman which fell vacant following the resignation of Ashok Chawla earlier this month, sources said Thursday. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2E7k7...

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RBI finally listens, gives another liquidity boost to NBFCs; relaxes asset securitisation norms

India's NBFCs, loosely known as shadow banks, are facing stress on their balance sheets after a debt crisis hit a large infrastructure funding company in September. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ShwM...

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Will savers earn higher interest income?

In addition to an increase in the MCLR, the spread over MCLRs for various categories of loans is also going up, resulting in an increase in the overall rates in the banking system. from Banking/Finance-Industry-Economic Times https://ift.tt/2ShSY...

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IL&FS India employees detained in Ethiopia by unpaid local staff

Seven Indian workers from infrastructure financing firm IL&FS, which rocked financial markets after it began missing debt payments in late August from Banking/Finance-Industry-Economic Times https://ift.tt/2KJL5...

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‘Challenges in the NBFC sector remain largely resolved’

Surabhi Challenges in the NBFC sector seem to have been largely resolved and the entire system is showing maturity in dealing with it, believes Kaizad from Business Line - Money & Banking https://ift.tt/2DRQj...

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With new portal, PSBs likely to regain market share in MSME loans: SIDBI

Our BureauPublic sector banks (PSBs) are likely to regain market share in loans to the micro, small and medium enterprise (MSME) segment, as the recen from Business Line - Money & Banking https://ift.tt/2AwZ2...

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BoB corporate services branch

  Bank of Baroda has opened its second corporate financial services branch in the New Delhi zone. The branch was opened at Gurugram by Papia Sengupta, from Business Line - Money & Banking https://ift.tt/2TXTo...

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MSME exports: Govt plans to hike interest equalisation rate

Our BureauTo help Indian exports become internationally competitive , the government has decided to increase the interest equalisation rate from 3 per from Business Line - Money & Banking https://ift.tt/2zvRb...

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To help NBFCs hit by liquidity crisis, RBI reduces minimum holding period

In a bid to help non-banking finance companies (NBFCs) overcome liquidity issues in the backdrop of the IL&FS imbroglio, the Reserve Bank of India from Business Line - Money & Banking https://ift.tt/2P8Hf...

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Interest subsidy for MSME sector exporters increased to 5 per cent: RBI

Exporters get the subsidy under the 'Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit'. from Banking/Finance-Industry-Economic Times https://ift.tt/2QoFS...

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Net stable funding ratio norms for banks from April, 2020: RBI

While issuing the guidelines in May this year, the RBI had said the date of its implementation would be notified in a due course. from Banking/Finance-Industry-Economic Times https://ift.tt/2DOL7...

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SBI okays 4% stake sale in general insurance arm for Rs 482 crore

The proposed transaction values SBI GI at over Rs 12,000 crore. The deal is subject to regulatory approvals, said SBI. from Banking/Finance-Industry-Economic Times https://ift.tt/2QqD2...

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Yes Bank's Rana Kapoor unlikely to contest for the post of chairman

The private sector lender will recommend the name of new chairman for approval by the RBI after the meetings of the Nomination and Remuneration Committee (N&RC) and the board of directors scheduled for December 13. from Banking/Finance-Industry-Economic Times https://ift.tt/2E0NW...

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RBI eases rules to improve cash flows of housing finance companies

The RBI has eased norms for NBFCs to sell or securitise their loan books, in a bid to ease stress in the sector. from Banking/Finance-Industry-Economic Times https://ift.tt/2AuHP...

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SBI okays 4% stake sale in general insurance arm for ₹482 cr

The country’s largest lender State Bank of India (SBI) on Thursday approved the sale of 4 per cent stake in SBI General Insurance for ₹482 crore to t from Business Line - Money & Banking https://ift.tt/2Q1wJ...

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Sensex ends over 450 points up to reclaim 36,000-mark; Nifty above 10,850

On the BSE index, Bajaj Auto, Kotak Mahindra Bank, Mahindra & Mahindra, Vedanta and IndusInd Bank were among the major gainers, rising as much as 4.33 per cent. On NSE, apart from Nifty IT, all other sub-indices finished in green, gaining as much as 1.92 per cent. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2TTXQ...

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J&K Bank employees protest against PSU move

Employees of the Jammu and Kashmir Bank staged a protest here on Thursday demanding a rollback of the decision of Governor S P Malik-led state admini from Business Line - Money & Banking https://ift.tt/2FKwT...

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Next RBI rate hike pushed back again, now well into 2019: Poll

The recent public row between the government and the RBI over policy matters unrelated to monetary policy has "somewhat diminished" the central bank's independence according to a third of the 46 respondents, though two-thirds saw no major impact. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2DQEn...

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J&K Bank's conversion into PSU opposed

There were widespread opposition to the decision with political parties terming it a move to curb J&K's financial autonomy. from Banking/Finance-Industry-Economic Times https://ift.tt/2TTIe...

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SBI customer? You have only 2 days to stop your internet account being blocked

According to a RBI July 6, 2017 circular, banks must have registered mobile number of their customers for SMS alerts for electronic banking transactions like internet and mobile banking. from Banking/Finance-Industry-Economic Times https://ift.tt/2KFFx...

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Yes Bank stock hits over 2-year low after ICRA, CARE cut ratings

Yes Bank has had a tumultuous couple of months, with its stock nearly halving in value this year and a number of departures from its board, since the country's central bank cut short its chief executive officer's term in September. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2TSw2...

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HDFC Bank’s app, net-banking glitch hits customers

In response to complaints, HDFC Bank has issued an apology stating that following the launch of its new m-banking app, it has been experiencing extremely heavy traffic on its online channel. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2BD5V...

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SBI hikes FD rates by 0.1%, loans may get costlier

SBI has increased rates on all deposits over one year and these come into effect from Wednesday. Most of the bank’s deposits are in the above one-year category. Given that the benchmark rate for loans is determined by cost of funds, there is a strong likelihood that the bank will increase its marginal cost of lending rate in coming months. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2KEWs...

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SpiceJet shares rise; gives additional guarantee to AAI

SpiceJet owes the airport operator Rs 117 crore in unpaid dues for landing, parking and other airport charges, according to media reports, against an existing bank guarantee of Rs 104 crore. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2U0sJ...

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Yes Bank board to suggest names for new chairman to RBI on December 13

Yes Bank on Wednesday said its board on December 13 will recommend names for new chairman to be approved by the RBI as well as consider appointment of independent directors. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2P50z...

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SBI hikes deposit rates by up to 10 bps – Check new rates

The new rates ranging from 5 to 10 bps will apply to retail deposits below Rs 1 crore with immediate effect, the bank said on its website.  from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2zw3g...

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Rana Kapoor hold companies get Rs 700 crore to avoid covenant breach

Covenants suggest that the value of Yes Bank shares be at least Rs. 1,890 crores, according to transaction summary provided by Templeton. from Banking/Finance-Industry-Economic Times https://ift.tt/2zqEG...

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‘Poor corporate governance’ – After its parent Moody’s, now Icra downgrades Yes Bank

A day after Moody's downgraded it citing poor corporate governance, its domestic arm Icra Wednesday followed suit with a similar action, downgrading Yes Bank's long-term ratings. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2BCQH...

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ICICI Bank plans to grow retail loan portfolio in FY 2018-19

Private sector ICICI Bank has chalked out aggressive plans to grow its retail loan portfolio in Tamil Nadu by over 40 per cent to Rs 13,000 crore during current financial year, a top official said Wednesday. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2zwen...

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Government to run power play at next central bank board meeting, says report

For all the cordiality on show at the end of Reserve Bank of India's last board meeting, tensions could re-surface when it next gathers on December 14 as the government aims to ramp up pressure for changes in the way the central bank operates. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2P4IK...

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Will tensions re-surface when the RBI meets next month?

For all the cordiality on show at the end of Reserve Bank of India’s last board meeting, tensions could re-surface when it next gathers on December 14 from Business Line - Money & Banking https://ift.tt/2zxLu...

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Satin Creditcare launches digital lending platform

Satin Creditcare Network Ltd (SCNL), the country’s second-largest microfinance company, on Wednesday announced the launch of an online digital lending from Business Line - Money & Banking https://ift.tt/2P6DG...

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Suspension of Aadhaar verification to hit lending of small fintech players

Fintech players, especially online lenders in the personal and consumer loans segment, are likely to face slowdown in business following the Supreme C from Business Line - Money & Banking https://ift.tt/2Qrz7...

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Over Rs 10,000 crore cash returns to banks after Diwali

Currency in circulation has dipped Rs 11,365 crore since the Diwali week when it reached a peak of Rs 20.2 lakh crore to Rs 20.1 lakh crore as of November 23, according to the latest figures released by the RBI. from Banking/Finance-Industry-Economic Times https://ift.tt/2SjiV...

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BC-led Banking Outlet opens

BC-led Banking Outlet opens Suryoday Small Finance Bank (SSFB), on Wednesday, opened its first ‘Banking Correspondent-led Banking Outlet’ in Mumbai at from Business Line - Money & Banking https://ift.tt/2DP94...

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ICICI Bank unveils strategy for future branches, ATMs

To set up branches/ATMs wherever there is economic activity; will reduce branch format from ‘large to small’ if footfalls fall from Business Line - Money & Banking https://ift.tt/2Qp0b...

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IL&FS puts green energy arms on block

The renewable assets of the group include operating wind power plants with an aggregate capacity of 873.5-mw, and under-construction wind power plants worth 104 mw capacity. from Banking/Finance-Industry-Economic Times https://ift.tt/2TTTZ...

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YES Bank shares dip 12% on Moody’s downgrade

Our BureauYES Bank shares fell by over 11.71 per cent on Wednesday, a day after Moody’s downgraded its ratings to ‘non-investment grade’ and changed t from Business Line - Money & Banking https://ift.tt/2E1PF...

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Yes Bank shares dive nearly 12%, m-cap plunges Rs 4,909cr on ratings downgrade

The stock fell sharply by 11.71 per cent to end at Rs 161.70 on the BSE. During the day, it dived 12.55 per cent to Rs 160.15, its 52-week low. On the NSE, shares of the company plunged 11.30 per cent to close at Rs 162. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2AwM5...

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ICICI bank plans to grow retail loan portfolio in FY 18-19

Bagchi also stated that the bank would increase the processing centres to 20 from the existing 15 in the state. from Business Line - Money & Banking https://ift.tt/2E1lU...

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SBI raises deposit rates by up to 10 bps

The country’s largest lender State Bank of India on Wednesday increased the fixed deposit rates by up to 10 basis points or 0.10 per cent to 6.80 per from Business Line - Money & Banking https://ift.tt/2P75v...

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RBI may infuse another Rs 1.6 lakh crore via OMOs in March qtr: Report

The Reserve Bank of India (RBI) may have to conduct open market operations (OMOs) of another Rs 1,60,000 crore in the fourth quarter of the current f from Business Line - Money & Banking https://ift.tt/2SbY7...

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ICICI bank plans to grow retail loan portfolio in FY 18-19

The bank also set a target on consumer loans to grow by 50 per cent in financial year 2018-19 to Rs 5,000 crore, ICICI Bank, Executive Director, Anup Bagchi told reporters here. from Banking/Finance-Industry-Economic Times https://ift.tt/2QjUq...

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Yes Bank board to recommend names for new chairman to RBI on December 13

The private sector lender, which is grappling with governance as well as NPA issues, has seen resignations of three independent directors, including Chairman Ashok Chawla. from Banking/Finance-Industry-Economic Times https://ift.tt/2rc0W...

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SBI hikes interest rates for some fixed deposits

The State Bank of India on Wednesday revised the interest rates for select retail Domestic Term Deposits. Rates have been revised for tenors "one year to less than two years" and "two years to less than 3 years." from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2E0YD...

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Yes Bank share price crashes 10% in 2 days as Moody’s cuts rating; all you need to know

Yes Bank's share price crashed 10% in two days as rating agency Moody's downgraded its ratings and changed the outlook to negative. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Schm...

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Yes Bank share price crashes 10% in 2 days as Moody’s cuts rating; all you need to know

Yes Bank's share price crashed 10% in two days as rating agency Moody's downgraded its ratings and changed the outlook to negative. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Schm...

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Yes Bank share price crashes 10% in 2 days as Moody’s cuts rating; all you need to know

Yes Bank's share price crashed 10% in two days as rating agency Moody's downgraded its ratings and changed the outlook to negative. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Schm...

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New notes issued after demonetisation become 'unusable' in just 2 years

​As per the news report, the problem is so intense that apart from the new Rs 2,000 and Rs 500 notes, new Rs 10 notes issued in 2018 are also becoming 'unusable'. from Banking/Finance-Industry-Economic Times https://ift.tt/2E1zi...

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Moody’s cuts Yes Bank rating over governance

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

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JCCI against making J&K Bank a PSU

Jammu Chamber of Commerce and Industry (JCCI) Tuesday voiced concern over "politicising the autonomy" of J&K Bank and advised against making it a public sector undertaking (PSU). from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2E19Q...

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Kapoor vs Kapur: Finally, Rana may smoke peace pipe with Madhu – sparring Yes Bank promoters inch towards truce

The sparring promoters of Yes Bank are inching towards a truce, but there was no clarity late Tuesday over the exact status of the talks with one camp claiming it's at an advanced stage and the other being not on the same page. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Sdv9...

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RBI to pump in additional liquidity of Rs 40,000 crore in December

The RBI will pump in another set of liquidity in December by infusing Rs 40,000 crore into the system through open market operations (OMOs). from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2E2gx...

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HDFC Bank rolls out next-gen banking app

HDFC Bank unveiled its next-gen mobile banking app that offers users effortless access to their bank accounts on the go. The next-gen app allows custo from Business Line - Money & Banking https://ift.tt/2KCmz...

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Banks move DRT to enforce guarantees provided by Dhoots for Videocon loans

An application by the State Bank of India that ET has reviewed said it was approaching the tribunal as the Dhoots did not respond to a guarantee invocation notice sent to them. from Banking/Finance-Industry-Economic Times https://ift.tt/2PWpi...

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IL&FS crisis: NBFCs need a paradigm shift in their business model to survive

NBFCs can take a leaf out of Darwin's theory that it’s not the strongest but the most adaptable that survives. from Banking/Finance-Industry-Economic Times https://ift.tt/2Q0aG...

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RBI reserves transfer won’t affect rating: MD Fitch Ratings James McCormak

it is not unusual for a central bank to transfer a part of its profits to fiscal accounts — if a government so desires, says James McCormak. from Banking/Finance-Industry-Economic Times https://ift.tt/2FHNJ...

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CCI green signals LIC majority stake buy in IDBI Bank

CCI nod for LIC to acquire IDBI BankThe Competition Commission of India (CCI) has given its nod to Life Insurance Corporation of India (LIC) to acquir from Business Line - Money & Banking https://ift.tt/2TRFh...

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RBI Governor appears before parliamentary panel

RBI Governor Urjit Patel Tuesday appeared before a parliamentary panel to brief on demonetisation and NPA situation in the public sector banks, among from Business Line - Money & Banking https://ift.tt/2AvfL...

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Now, customers can interact with ICICI Pru Life through WhatsApp

ICICI Prudential Life Insurance, a leading private life insurer, has formally tied up with global messaging platform WhatsApp as part of its attempts from Business Line - Money & Banking https://ift.tt/2Aqt8...

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Axis Bank plans to boost payments network with merchant acquisition

Launches UniPOS for digital payments; expands PoS terminals to smaller towns from Business Line - Money & Banking https://ift.tt/2r9IT...

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To infuse liquidity, RBI plans to conduct OMOs for ₹40,000 cr

The central bank also plans to purchase five government securities for ₹10,000 crore from Business Line - Money & Banking https://ift.tt/2FKzM...

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Kite aims to digitise SMEs

Eyes break-even in June quarter of 2020, says CEO from Business Line - Money & Banking https://ift.tt/2r8Cc...

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Reliance Capital reports Q2 net at ₹280 cr

Reliance Capital on Tuesday reported a consolidated net profit of ₹280 crore for the quarter ended September 30, 2018. It had posted a net loss of ₹1 from Business Line - Money & Banking https://ift.tt/2FMJQ...

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Competition Commission approves LIC's majority stake buy in IDBI Bank

The deal would help the insurance behemoth to enter the banking space and would provide business synergies despite the IDBI Bank's stressed balance sheet. from Banking/Finance-Industry-Economic Times https://ift.tt/2r64Y...

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NTT to acquire payments firm Atom Tech for $9 m

To help Atom leverage NTT’s global presence in the payments space from Business Line - Money & Banking https://ift.tt/2P6ex...

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Huge setback for Yes Bank! Moody’s downgrades rating; shares fall 4%

In a huge setback for Yes Bank, rating agency Moody's on Tuesday downgraded the rating of the Indian private bank. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2KEnp...

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Another tense RBI meeting? Govt to press for pulling some banks out of PCA in next board meet

The Indian government will push its central bank to ease lending restrictions for some weak banks and review rules governing its functioning at a board meeting next month. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2FJME...

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RBI to pump in additional liquidity of ₹40,000 cr in Dec

The RBI will pump in another set of liquidity in December by infusing ₹40,000 crore into the system through open market operations (OMOs).“Based on a from Business Line - Money & Banking https://ift.tt/2r64F...

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NTT to acquire payments firm Atom Tech for $9 m

To help Atom leverage NTT’s global presence in the payments space from Business Line - Money & Banking https://ift.tt/2FHtL...

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Huge setback for Yes Bank! Moody’s downgrades rating; shares fall 4%

In a huge setback for Yes Bank, rating agency Moody's on Tuesday downgraded the rating of the Indian private bank. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2KEnp...

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Another tense RBI meeting? Govt to press for pulling some banks out of PCA in next board meet

The Indian government will push its central bank to ease lending restrictions for some weak banks and review rules governing its functioning at a board meeting next month. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2FJME...

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NIB-Srei tie-up

The Nordic Investment Bank (NIB) and Srei Equipment Finance Limited have agreed on a loan programme for financing acquisition, leasing of industrial from Business Line - Money & Banking https://ift.tt/2DNIb...

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No reduction in NPAs of 11 banks under RBI’s PCA, but 4 banks improve profitability

The government is pushing the Reserve Bank of India (RBI) to relax PCA norms for certain banks that show an improvement in performance and allow them to restart lending. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Rgua...

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YES Bank promoter groups set to reach truce; jointly nominate new MD & CEO

Surabhi The warring promoters of YES Bank are set to reach an agreement and will jointly nominate the bank’s new Managing Director and CEO. This come from Business Line - Money & Banking https://ift.tt/2r63v...

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Parliamentary panel to take stock of debt-ridden IL&FS Group

The plan submitted to the NCLT also hinted at non-transparent and illegal transactions by the previous management in selling a group entity in June 2017. from Banking/Finance-Industry-Economic Times https://ift.tt/2FGNR...

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No reduction in NPAs of 11 banks under RBI’s PCA, but 4 banks improve profitability

The government is pushing the Reserve Bank of India (RBI) to relax PCA norms for certain banks that show an improvement in performance and allow them to restart lending. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Rgua...

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Rift with Centre doesn’t challenge RBI’s autonomy: Damodaran

The former SEBI Chairman said that the RBI has been enjoying functional autonomy and nothing has happened in the recent past that has taken this away. from Business Line - Money & Banking https://ift.tt/2FJgR...

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No reduction in NPAs of 11 banks under RBI’s PCA, but 4 banks improve profitability

The government is pushing the Reserve Bank of India (RBI) to relax PCA norms for certain banks that show an improvement in performance and allow them to restart lending. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Rgua...

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No reduction in NPAs of 11 banks under RBI’s PCA, but 4 banks improve profitability

The government is pushing the Reserve Bank of India (RBI) to relax PCA norms for certain banks that show an improvement in performance and allow them to restart lending. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Rgua...

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No reduction in NPAs of 11 banks under RBI’s PCA, but 4 banks improve profitability

The government is pushing the Reserve Bank of India (RBI) to relax PCA norms for certain banks that show an improvement in performance and allow them to restart lending. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Rgua...

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No reduction in NPAs of 11 banks under RBI’s PCA, but 4 banks improve profitability

The government is pushing the Reserve Bank of India (RBI) to relax PCA norms for certain banks that show an improvement in performance and allow them to restart lending. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Rgua...

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Sebi orders release of bank, demat account of Sterlite Metal

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2r9Vz...

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No reduction in NPAs of 11 banks under RBI’s PCA, but 4 banks improve profitability

The government is pushing the Reserve Bank of India (RBI) to relax PCA norms for certain banks that show an improvement in performance and allow them to restart lending. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Rgua...

Read more »

No reduction in NPAs of 11 banks under RBI’s PCA, but 4 banks improve profitability

The government is pushing the Reserve Bank of India (RBI) to relax PCA norms for certain banks that show an improvement in performance and allow them to restart lending. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Rgua...

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Government may push RBI to lift lending curbs on some banks

RBI will have to come with a plan to prevent banks accumulating bad loans rather than just penalizing them. from Banking/Finance-Industry-Economic Times https://ift.tt/2BAxg...

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No reduction in NPAs of 11 banks under RBI’s PCA, but 4 banks improve profitability

The government is pushing the Reserve Bank of India (RBI) to relax PCA norms for certain banks that show an improvement in performance and allow them to restart lending. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Rgua...

Read more »

No reduction in NPAs of 11 banks under RBI’s PCA, but 4 banks improve profitability

The government is pushing the Reserve Bank of India (RBI) to relax PCA norms for certain banks that show an improvement in performance and allow them to restart lending. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Rgua...

Read more »

No reduction in NPAs of 11 banks under RBI’s PCA, but 4 banks improve profitability

The government is pushing the Reserve Bank of India (RBI) to relax PCA norms for certain banks that show an improvement in performance and allow them to restart lending. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Rgua...

Read more »

No reduction in NPAs of 11 banks under RBI’s PCA, but 4 banks improve profitability

The government is pushing the Reserve Bank of India (RBI) to relax PCA norms for certain banks that show an improvement in performance and allow them to restart lending. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Rgua...

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Elysium Capital ropes in Sachin Khandelwal as Strategic Adviser

In his new role, Khandelwal will guide Elysium to strengthen existing business lines and help taking informed strategic decisions to pursue new growth areas. from Banking/Finance-Industry-Economic Times https://ift.tt/2r5UC...

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Debt concerns rise as 18 PSU banks’ write-offs shoot up 41.5% to Rs 9,116 crore in Q2

Indian Bank saw the steepest climb in write-offs that jumped 672% y-o-y to Rs 1,258 cr. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2zraD...

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Debt concerns rise as 18 PSU banks’ write-offs shoot up 41.5% to Rs 9,116 crore in Q2

Indian Bank saw the steepest climb in write-offs that jumped 672% y-o-y to Rs 1,258 cr. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2zraD...

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RBI eases hedging norms for ECBs

The Reserve Bank Monday relaxed norms for external commercial borrowings (ECBs) by reducing the mandatory hedging provision to 70 per cent from the current 100 per cent. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2zr4c...

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Portal for processing interest subvention on bank loans to beneficiaries launched

A portal for processing interest subvention on bank loans to beneficiaries under the Deendayal Antyodaya Yojana-National Urban Livelihoods Mission was launched by the Ministry of Housing and Urban Affairs here on Monday. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2P4oH...

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RBI’s move to boost credit flow to NBFCs may not amuse banks, says India Ratings; here’s why

PCE was introduced in 2015 to help NBFCs and HFCs raise capital from insurance and provident or pension funds, which invest only in highly-rated instruments. The RBI allowed the banks to provide PCE to NBFC bonds earlier this month. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2RjpG...

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RBI eases hedging norms for ECBs

The Reserve Bank Monday relaxed norms for external commercial borrowings (ECBs) by reducing the mandatory hedging provision to 70 per cent from the current 100 per cent. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2zr4c...

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Portal for processing interest subvention on bank loans to beneficiaries launched

A portal for processing interest subvention on bank loans to beneficiaries under the Deendayal Antyodaya Yojana-National Urban Livelihoods Mission was launched by the Ministry of Housing and Urban Affairs here on Monday. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2P4oH...

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RBI’s move to boost credit flow to NBFCs may not amuse banks, says India Ratings; here’s why

PCE was introduced in 2015 to help NBFCs and HFCs raise capital from insurance and provident or pension funds, which invest only in highly-rated instruments. The RBI allowed the banks to provide PCE to NBFC bonds earlier this month. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2RjpG...

Read more »

RBI eases hedging norms for ECBs

The Reserve Bank Monday relaxed norms for external commercial borrowings (ECBs) by reducing the mandatory hedging provision to 70 per cent from the current 100 per cent. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2zr4c...

Read more »

Portal for processing interest subvention on bank loans to beneficiaries launched

A portal for processing interest subvention on bank loans to beneficiaries under the Deendayal Antyodaya Yojana-National Urban Livelihoods Mission was launched by the Ministry of Housing and Urban Affairs here on Monday. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2P4oH...

Read more »

RBI’s move to boost credit flow to NBFCs may not amuse banks, says India Ratings; here’s why

PCE was introduced in 2015 to help NBFCs and HFCs raise capital from insurance and provident or pension funds, which invest only in highly-rated instruments. The RBI allowed the banks to provide PCE to NBFC bonds earlier this month. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2RjpG...

Read more »

RBI eases hedging norms for ECBs

The Reserve Bank Monday relaxed norms for external commercial borrowings (ECBs) by reducing the mandatory hedging provision to 70 per cent from the current 100 per cent. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2zr4c...

Read more »

Portal for processing interest subvention on bank loans to beneficiaries launched

A portal for processing interest subvention on bank loans to beneficiaries under the Deendayal Antyodaya Yojana-National Urban Livelihoods Mission was launched by the Ministry of Housing and Urban Affairs here on Monday. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2P4oH...

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RBI’s move to boost credit flow to NBFCs may not amuse banks, says India Ratings; here’s why

PCE was introduced in 2015 to help NBFCs and HFCs raise capital from insurance and provident or pension funds, which invest only in highly-rated instruments. The RBI allowed the banks to provide PCE to NBFC bonds earlier this month. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2RjpG...

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Banks may stay away from NBFC, HFC bonds under special window

The Reserve Bank of India’s (RBI) move to allow partial credit enhancement (PCE) to bonds issued by non-banking finance (NBFCs) and housing finance c from Business Line - Money & Banking https://ift.tt/2DKjV...

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To boost data management, YES Bank shortlists 200 scientists for Datathon

Private sector lender YES Bank has significantly ramped up its focus on data management and analytics.The bank has shortlisted top 200 data-science pr from Business Line - Money & Banking https://ift.tt/2Qqbx...

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Rupee may pause temporarily

A corrective fall to 71.8 or 72 is possible before the currency strengthens further from Business Line - Money & Banking https://ift.tt/2BzFL...

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Govt to infuse ₹42,000 cr in PSBs by March

Press Trust of IndiaThe government will infuse ₹42,000 crore in state-owned banks by March-end, and the next tranche would be released as early as ne from Business Line - Money & Banking https://ift.tt/2PZfy...

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SBI General Insurance eyes 50% annual growth by 2020

Our Bureau SBI General Insurance, a 74:26 partnership venture between State Bank of India (SBI) and Insurance Australia Group (IAG), aims to be among from Business Line - Money & Banking https://ift.tt/2P3Cq...

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‘Mallya, a soft-spoken but orthodox banker’

Our Bureau“An orthodox banker and team player who was soft-spoken,” is how colleagues remember Mangalore Devadas Mallya, former Chairman and Managing from Business Line - Money & Banking https://ift.tt/2zrWh...

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IL&FS board scrutinising EoIs for stake-sale in group companies

Banks, private equity firms and other financial services companies have shown interest from Business Line - Money & Banking https://ift.tt/2P0qm...

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Religare Health launches cover for insulin-dependent diabetics

Our BureauReligare Health Insurance, a health insurer, has come up with a new insurance plan – Care Freedom – which offers coverage to diabetics of al from Business Line - Money & Banking https://ift.tt/2zrox...

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“GIC heads need to be Intrapreneurs”, says consulting firm Zinnov India

India could be GIC global hub for ER&D from Business Line - Money & Banking https://ift.tt/2DMcO...

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Indian banks mull ways to cope with US sanctions against Russia; special branches among options

Indian banks may designate one branch each to handle all Russia-related businesses in the wake of US sanctions against that country. This was proposed from Business Line - Money & Banking https://ift.tt/2r7Iz...

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IL&FS Transportation defaults on interest payment of 2 NCDs

The interest payment on both NCDs were due on November 26, the company said in a filing to the exchanges. from Banking/Finance-Industry-Economic Times https://ift.tt/2BzdR...

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IFCI gets ₹492 cr for Binani Cement resolution under IBC

Infrastructure term lender IFCI Monday said it has received ₹492 crore towards security receipts under the IBC resolution plan for Binani Cement. “On from Business Line - Money & Banking https://ift.tt/2P3my...

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RBI eases hedging norms for ECBs

The Reserve Bank on Monday relaxed norms for external commercial borrowings (ECBs) by reducing the mandatory hedging provision to 70 per cent from th from Business Line - Money & Banking https://ift.tt/2DYgI...

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Debt collection firm SecureDebt expects ₹300-cr recovery in FY19

Priyanka PaniOver the last two years, the SME and MSME sectors have been the focus area of lenders, thanks to online players. However, with more foc from Business Line - Money & Banking https://ift.tt/2FIN3...

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Government to infuse Rs 42,000 cr in PSU banks by March; next tranche likely in December

The government will infuse Rs 42,000 crore in the state-owned banks by March-end and the next tranche would be released as early as next month, a senior finance ministry official said Monday. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Ana7...

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Whopping 2.38 lakh ATMs could be shut down; what it means for you, why there’s a threat: All you need to know

Last week, the Mumbai-based trade association for outsourcers of cash machines CATMi said that changes in the regulatory landscape have made the business unviable and they could lead to shutting down of 50% of the country's ATMs by March next year. from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Qjoy...

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Centre to infuse Rs 42,000 crore in PSU banks by March, next tranche likely in December

The government earlier this year pumped Rs 11,336 crore in five PSBs -- PNB, Allahabad Bank, Indian Overseas Bank, Andhra Bank and Corporation Bank -- to improve their financial health. from Banking/Finance-Industry-Economic Times https://ift.tt/2FEAI...

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