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Tuesday, December 31, 2019

Revival of investment cycle likely to be impacted as large corporates are liquidity rich, says RBI report

Financial stability report gave the assessment after comparing balance sheets of two categories of corporates -- very large and large.

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Not PSU banks but these financiers are behind real estate growth amid slowdown

By June 2016, the exposure of PSU banks in the realty sector was 48.57 per cent, which has steeply fallen to a mere 24.34 per cent by June 2019.

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Axis Bank appoints Amit Talgeri as Chief Risk Officer

Axis Bank said in a statement. Additionally, Naveen Tahilyani has been appointed as Group Executive -- Head Banking Operations and Transformation -- with effective from January 6.

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Bank holidays January 2020: Is bank open tomorrow or will you get your salary day later?

Holidays in January 2020: The Reserve Bank of India (RBI) has announced a holiday on the first day of 2020 to celebrate the new year in some cities.

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RBI in 2019: History behind, Shaktikanta Das-led central bank charts new trails sans acrimony

Shaktikanta Das completed one year at the helm on December 12. But challenges are galore for the nation's chief money man as Das' record-setting rate cuts did not alleviate credit crisis, especially in the shadow banking space, and now turmoil in the cooperative banks sector due to the PMC scam.

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RBI to limit UCB’s exposure to single, group borrowers

Banks will be required to bring down their existing exposures, which are in excess of the revised limits

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RBI plans to tighten loan norms for co-op banks

In an effort to avoid frauds like the one seen in PMC Bank, the Reserve Bank of India (RBI) on Monday proposed to tighten lending rules for urban co-operative banks (UCBs). The regulator plans to limit these lenders’ exposure to a single party and a group of related borrowers to 10% and 25%, respectively, of their Tier I capital — down from the 15% and 40% level now.

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Weak credit offtake likely to exacerbate slowdown, says Ind-Ra

The rating agency also said that banks are well capitalised.

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Axis Bank appoints Amit Talgeri as Chief Risk Officer

Naveen Tahilyani has been appointed as Group Executive -- Head Banking Operations and Transformation -- with effective from January 6. Cyril Anand, the incumbent CRO will retire from the services of the bank, with effect from close of business hours of December 31, 2019.

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SBI cuts home loan rates by 25bps to 7.9%

There is some New Year’s cheer for those planning to buy homes. State Bank of India (SBI) has reduced its home loan rates by a quarter percentage point, or 25 basis points (100bps = 1 percentage point), to 7.9% from 8.15% earlier.

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Axis Bank appoints Amit Talgeri as Chief Risk Officer

Axis Bank on Tuesday appointed Amit Talgeri as the Chief Risk Officer (CRO) of the bank for three years, from January 1, 2020. “Cyril Anand, the incu

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Shriram Group looks to dilute 5% each in life & non-life biz

The transaction, in preliminary stages, is part of the group’s thinking to unlock cash to fund its aggressive growth plans.

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Businesses to pay fine if they do not operationalise digital payment options by January 31

The CBDT has issued a notification which said that business establishments with annual turnover of ₹50 crore or more must offer low-cost digital payment options by January 31, or risk paying hefty fines from Februaury 1, 2020

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RBI to limit UCB’s exposure to single, group borrowers

Banks will be required to bring down their existing exposures, which are in excess of the revised limits

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Why the MDR controversy refuses to die down

Zero Merchant Discount Rate on Rupay and UPI will hit expansion of digital payments, says PCI

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Life insurers pay ₹4,442-cr dividend in FY19, the highest in last five years

Both public and private life insurers paid a total dividend of ₹4,442 crore in 2018-19 when compared to ₹4,192 crore in 2017-18. This is the highest

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As moratorium ends, NPAs may rise in January

With the moratorium period of some facilities gradually coming to an end, it is expected that the asset quality may come under pressure. There has also been an increase in softer delinquencies for nonbanks in the current fiscal reflecting the build-up of stress.

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Stakeholders believe, MDR waiver may hurt digital India

Finance Minister Nirmala Sitharaman on Saturday said that the zero MDR regime would kick in once the Department of Revenue issued a gazette notification on January 1. Top industry players say Centre’s decision on not levying merchant discount rates will make the business model unviable.

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RBI to limit UCB’s exposure to single, group borrowers

Banks will be required to bring down their existing exposures, which are in excess of the revised limits

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NPA crisis not over yet: SBI may see corporate bad loans rise in second half of FY 20

SBI has, for quite some time, been following a policy of upfronting provisions in order to minimise shocks from credit events, Khara said.

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Good news for borrowers: SBI cuts external benchmark lending rate, details here

SBI’s external benchmark based lending rate is linked to the repo rate, which is currently at 5.15% after the December monetary policy review.

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Amid crisis, DHFL receives claims of Rs 92,404 crore

Lenders initially tried to resolve DHFL’s stress as per the RBI’s prudential norms on stressed assets resolution, under which lenders are mandated to sign an intercreditor agreement (ICA).

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IL&FS reports standalone loss of Rs 13,275 crore in FY19

The company’s exposure to non-performing assets, expressed as “Stage 3” assets, increased to Rs 12,429.64 crore, compared with an exposure of Rs 2,249.98 crore in FY18.

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Monday, December 30, 2019

DHFL: Resolution professional discusses plan with lenders

On December 4, the administrator in a public announcement had asked all its creditors including fixed depositors to file their claims by December 17. As per the latest available data, the company received Rs 86,892.30 crore from financial creditors including lenders, bondholders and Nabard among others.

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SBI cuts external benchmark rate on loans by 25 basis points

State Bank of India (SBI), on Monday, said it will reduce the external benchmark-based rate (EBR) by 25 basis points (bps) from 8.05 per cent to 7.80

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RBI seeks to nudge UCBs to convert into small finance banks

Central bank reduces limit on exposure to single and group borrowers, rises target for priority sector lending

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DHFL creditors submit ₹86,892 crore claim

Financial creditors have submitted claims aggregating ₹86,892 crore to the administrator of Dewan Housing Finance Corporation Ltd (DHFL) under the cor

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PFS raises ₹500 crore from Bank of India

PFS raises ₹500 cr from BoI PTC India Financial services (PFS) has received sanction of fresh long-term loan of ₹500 crore from Bank of India. “The am

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RBI proposes to tighten lending norms for UCBs; check details

Earlier this month, the RBI Central Board had reviewed functioning of the urban cooperative banks and the enforcement framework.

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Banks closed for 16 days in January: Check list of bank holidays in first month of year 2020

In the upcoming month of January, banks in India will remain closed for 16 days, which constitutes ten public holidays and four Sundays along with the second and fourth Saturdays.

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FASTag made easier: Now use UPI and all these methods to pay for highway toll, parking, etc

All authorised payment systems and other instruments including non-bank PPIs, cards and UPI will now be permitted for linking with the FASTags to further boost National Electronic Toll Collection (NETC) system.

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IBC finds lost treasure for banks; other bad loan recovery tools fail to recreate same success

While commercial banks recovered a whopping Rs 70,819 crore of stressed assets in FY19 under the government’s flagship scheme Insolvency and Bankruptcy Code (IBC), other recovery methods failed to recreate IBC success,

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So close! Debit cards miss 1-billion mark; people junk plastic as Digital India moves on

The number of debit cards in India is falling and has hit a two-year low. Having come strikingly close to the 1-billion mark a year ago, the debit card figure never breached the milestone and is on a decline ever since.

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Indian Bank to revise MCLR from January 3

Lending rates for tenors of one year would be revised to 8.30 per cent from the current 8.35 per cent, the bank said.

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Banking sector eyes better days on reforms, bad loan resolution

The government unveiled measures over the past few months aimed at improving liquidity in the system.

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Is China readying its own Bitcoin? It's far bigger than that

Little is known about the digital yuan except that it’s been in the works for five years.

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China to switch to new benchmark lending rate

China’s central bank ordered lenders to adopt a new loan-pricing regime for all credit from next year, marking an end to the previous benchmark and another step toward liberalising the financial system.

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2019: Banking sector eyes better days on reforms, bad loan resolutions

"Every fundamentals indicate towards higher growth and better future next year," Finance Secretary Rajiv Kumar told PTI, reflecting strong optimism going into 2020.

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SBI cuts external benchmark-based rate by 25 bps

SBI "has announced the reduction in its external benchmark-based rate (EBR) by 25 basis points to 7.80 per cent p.a from 8.05 per cent per annum with effect from January 1, 2020," it said.

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SBI cuts external benchmark-based rate by 25 bps

The country’s largest lender State Bank of India (SBI) on Monday announced a reduction in its external benchmark-based rate by 25 basis points to 7.8

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Finance ministry, IRDAI seek bank account insurance

In the wake of the PMC Bank crisis, the finance ministry and insurance regulator IRDAI have asked insurers if they can come up with a product to provide coverage for deposits of above Rs 1 lakh. Currently, the Deposit Insurance and Credit Guarantee Corporation (DICGC) covers only deposits of Rs 1 lakh and below.

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SBI cuts external benchmark rate by 25 bps, home loans to get cheaper

State Bank of India (SBI) on Monday announced reduction in its external benchmark based rate (EBR) by 25 basis points (bps) to 7.80 per cent from 8.05 per cent. The revised rates will be come into effect from January 1, 2020, the country's largest lender said in a release.

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Close to half of claims under IBC were settled in FY19: RBI

As a percentage of claims, banks recovered on average 42.5% of the amount filed through the IBC in the financial year 2018-19, against 14.5% through the Sarfaesi resolution mechanism, 3.5% through Debt Recovery Tribunals and 5.3% through Lok Adalats. Against Rs 1.66 lakh crore claims involved under IBC, the recovery was Rs 70,819 crore.

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Life Insurance Corp of India raises 2018-19 provisioning by 30%

Move after review of asset quality and performance of investments in real estate, loans and other assets. The country’s biggest life insurer has exposure to stressed entities such as Dewan Housing Finance Corp Ltd, Infrastructure Leasing and Financial Services and the Anil Ambani-led Reliance Group among others.

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Sunday, December 29, 2019

RCap gets back 100 per cent shareholding in Reliance General Insurance

To RCap lenders’ relief, cancels move by Credit Suisse, Nippon India MF to invoke pledged shares

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Lower credit offtake by firms, a sign of balance sheet clean-up: Shaktikanta Das

“Every decision taken at the central bank is attributed to the Governor and the buck stops with him,” said Shaktikanta Das, Governor, Reserve Bank of

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Inspection report of scam-hit PMC Bank yet to be finalised: RBI

The inspection report on the financial position of the scam-hit Punjab and Maharashtra Co-operative (PMC) Bank as on March 31 this year is yet to be

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HFCs’ share in realty loans doubles since 2016: RBI

Meanwhile, the share of private sector banks rose to 30.41 per cent from 23.62 per cent, while the exposure of PSBs nearly halved to 24.34 per cent as of June 2019, shows the FSR.

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RBI blasts CRAs for allowing ‘rating shopping’ to large borrowers

Rating shopping refers to how, a company or a debt paper manages to get same or better rating from another agency within three months of it getting a poor rating.

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Inspection report of scam-hit PMC Bank yet to be finalised: RBI

Replying to an RTI query, it said preliminary findings of the RBI indicated large-scale irregularities in the bank, warranting supersession of its board of directors and imposition of all inclusive directions of the Banking Regulation Act, 1949.

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DHFL creditors to meet on Monday for discussing resolution

The Mumbai bench of the National Company Law Tribunal (NCLT) had admitted the company for insolvency resolution on December 2 and appointed Indian Overseas Bank former managing director and CEO R Subramaniakumar as the company's administrator.

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Housing Finance Companies' share in realty loans doubles since 2016: RBI

Housing finance companies (HFCs) have doubled their share in builder loans to 23.81 per cent by June this year, compared with 12.17 per cent in June 2016. Meanwhile, the share of private sector banks rose to 30.41 per cent from 23.62 per cent, while the exposure of PSBs nearly halved to 24.34 per cent as of June 2019, shows the FSR.

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Inspection report of scam-hit PMC Bank yet to be finalised: RBI

Replying to an RTI query, RBI said preliminary findings indicated large-scale irregularities, warranting supersession of its board of directors and imposition of all inclusive directions of the Banking Regulation Act, 1949. "The report is yet to be finalised as inspection with respect to PMC Bank's financial position as on March 31, 2019, is under progress," RBI said.

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Inspection report of scam-hit PMC Bank yet to be finalised: RBI

Replying to an RTI query, it said preliminary findings of the RBI indicated large-scale irregularities in the bank, warranting supersession of its board of directors and imposition of all inclusive directions of the Banking Regulation Act, 1949.

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DHFL creditors to meet on Monday for discussing resolution

The third-largest pure play mortgage player is the first non-banking financial company or housing finance company to face the corporate insolvency resolution process. The Mumbai bench of NCLT had admitted the company for insolvency resolution on December 2 and appointed IOB's former MD and CEO R Subramaniakumar as the company's administrator.

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Boost for digital payments: Govt waives off MDR charges on RuPay, UPI transactions

This announcement comes on the back of the finance minister Nirmala Sitharaman's maiden budget speech when she had said that the businesses with an annual turnover of Rs 50 crore or more shall offer affordable digital modes of payment to the consumers. 

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Saturday, December 28, 2019

Quantum Leap: End of cash is near, cashless currencies are in vogue

With Nordic countries swiftly advancing to cashless modes, Asian countries like China, Singapore and now India are on the way to make digital payments popular. In India, the demonetisation of 86% of the currency notes in circulation in 2016 accelerated the shift to digital payment modes. ​​Yet, cash continues to account for over 90% of transactions.

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Prudent decisions will be protected, FM Nirmala Sitharaman tells bankers

Sitharaman, in a meeting with top executives of public and private sector lenders attended for the first time by the CBI director, Rishi Kumar Shukla, assured the bankers that a distinction would be made between genuine commercial failures and culpability. She further added that there had been concerns and worries among bankers about investigative agencies.

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No MDR charges applicable on payment via RuPay, UPI from Jan 1: Sitharaman

All companies with a turnover of Rs 50 crore or more will be mandated by DoR to provide the facility of payment through RuPay Debit card and UPI QR code to their customers. MDR is the cost paid by a merchant to a bank for accepting payment from their customers via digital means. The merchant discount rate is expressed in percentage of the transaction amount.

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Don't let fear hamper lending, Nirmala Sitharaman tells banks

Sitharaman said the Centre was doing everything to instill a sense of protection among bankers.

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Nirmala Sitharaman tells banks not to worry 3Cs; NCLT helps PSU banks recover this much amount

13 public sector banks ran a profitable business in 2019 which is a decline from numbers in 2018 when 19 PSBs were profitable. There was another announcement on Provision Coverage Ratio which stands at an all-time high of 76.7%.

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LIC crosses Rs 50,000 crore valuation surplus for the first time; pays dividend to govt

LIC has completed 63 years since its incorporation and now manages assets worth more than Rs 31.11 lakh crore. It had annual income of Rs 5.61 lakh crore and achieved the highest ever First Year Premium Income of Rs 1,42,191.69 crore in 2018-19.

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Coming soon: Fraud reporting integration of NBFCs and urban co-operative banks

Under the initiative, banks are also required to set up specialised units to make use of market intelligence and data analytics, and also put a transaction monitoring system in place.

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Bad news for banks! RBI says loan losses for lenders could rise in 2020

The RBI projection of an increase in GNPAs comes at a time when industry was expecting reversal of the cycle.

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Banks instructed to clear pending vigilance cases against officials, says Nirmala Sitharaman

The Finance Minister also said that no MDR charges will be applicable on select modes of payment from January 1

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SBI to launch OTP-based ATM cash withdrawal from January 1

The country's largest public sector lender, the State Bank of India (SBI), via a tweet on December 26, said that it will introduce a one-time password (OTP)-based cash withdrawal system for its ATMs.

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PMC Bank didn’t properly classify Wadhawan account: Economic Offences Wing

The EOW charged the former management of PMC Bank with failing to report an account of Rakesh Wadhawan with an outstanding amount of Rs 1,671.88 crore as the top borrower from the HDIL Group and filing false statements with the Reserve Bank of India to avoid regulatory scrutiny.

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Slowdown may worsen bad loans problem

The slowdown could cause the gross non-performing ratio of local lenders to increase to 9.9% in September 2020 from 9.3% in September 2019, the Reserve Bank of India’s (RBI) Financial Stability Report showed.

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RBI Financial Stability report: Credit Growth slows, hits a low of 8.7% in September

Private banks registered double digit credit growth of 16.5%, while that of PSBs was 4.8%.

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Uco Bank to get Rs 2142 crore

Net loss for the second quarter this fiscal reduced to Rs 891.98 crore from Rs 1136.44 crore for the same period last fiscal.

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Indian Overseas bank gets fresh capital of Rs 4630 crore

Karnam Sekar, MD & CEO of IOB, earlier had exuded confidence that the bank was on track of its plan to come out of prompt corrective action (PCA) framework by March 2020.

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Interview: Expect further easing in funding costs in second half of FY20

We are quite pleased with the success of our diversification into microfinance. Asirvad Microfinance is now among the top 5 NBFC-MFIs in India.

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Friday, December 27, 2019

RBI wants to onboard non-banks to CPS

Our BureauThe Reserve Bank will examine the case for increased participation of non-banks in Centralised Payment System (CPS), according to its latest

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NCC Finance liquidated

NCC Finance Limited has completed the process of voluntary liquidation. The liquidator, Sridhar Venkatraya Sundararaja, Resolution Professional, has f

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MoneyTap to start disbursals as NBFC from Jan

Fintech lender MoneyTap is set to start disbursing loans as an NBFC from next month, and is also finalising its fund-raising plans.“Fund-raising in te

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Banks’ GNPA ratio may rise to 9.9% by Sept: RBI

Change in macroeconomic scenario, marginal rise in slippages, and the denominator effect of declining credit growth are the contributing factors

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‘Funds continued to flowinto the real estate sector’

Flow of funds to the real estate sector has continued notwithstanding a general slowdown in credit growth.While the real estate (RE) sector has flagge

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As economy turtles south, credit growth may plunge to 58-year low in FY20

Credit growth was a high 13.3 per cent in the previous fiscal, says rating agency Icra in a report. If the forecast turns out to be true, this will be lowest credit growth in as many as 58 years -- credit growth stood at a low 5.4 per cent in FY 1962.

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West Bengal FM Amit Mitra’s suggestion to boost banking penetration into unbanked areas; what he says

The West Bengal government has extended Rs 430 crore so far this year under the scheme, helping 27.4 lakh cultivators, Mitra said. The vision of the state government is that there will be "no unbanked panchayats" in West Bengal, the minister said.

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Indian overseas bank to get fresh capital from govt for this reason

IOB's gross non-performing assets stood at 20 per cent (Rs 28,673.95 crore) of gross advances during the September quarter, compared with 24.73 per cent (Rs 37,109.96 crore) in year-ago same period.

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Financial system remains stable despite weakening domestic growth, says RBI

"India's financial system remains stable notwithstanding weakening domestic growth," the central bank said in the Financial Stability Report. India's GDP slowed to a six-year low of 4.5 per cent in the second quarter of FY20, forcing the RBI to slash its growth forecast by 240 basis points to 5 per cent for the fiscal in its December monetary policy review.

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This one private bank has made private lender NPAs look worse than PSU banks

GNPA ratio of IDBI Bank is as high as 27.47 per cent, which is the highest among all the private and public sector banks.

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PNB Housing Finance in talks with overseas investor for next round of ECB fund-raise: CFO

PNB Housing Finance Ltd (PNBHFL) is in talks with an overseas investor to raise about $75 million to $100 million via external commercial borrowing (E

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We want to be the risk concierge for large, complex risks: Willis Towers Watson head

KR SrivatsWillis Towers Watson, a global advisory, broking and solutions company, wants to be the preferred “risk concierge” in India for all large an

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PMC Bank crisis: Administrator to seek valuation of HDIL's aircraft, yacht

"The RBI-appointed administrator to PMC Bank intends to monetise a yacht and two aircraft through a transparent process. For the purpose, the administrator plans to appoint a valuer/consultant and invites proposals from interested parties," the administrator said in a public notice.

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Sitharaman to meet heads of PSBs to discuss credit situation, economy on Saturday

Finance Minister Nirmala Sitharaman will hold a meeting with the heads of public sector banks on Saturday to discuss various issues, including the rec

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This one private bank has made private lender NPAs look worse than PSU banks

GNPA ratio of IDBI Bank is as high as 27.47 per cent, which is the highest among all the private and public sector banks.

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Bengal co-op banks lent Rs 36,000 crore in last 5 years: WB Fin Min Amit Mitra

In a bid to bring unbanked areas under the institutional credit network, the Bengal state government will provide space inside panchayat offices so that banks can set up branches in remote areas.

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Bengal cooperative banks lent Rs 36,000 cr in last 5 years: Minister

West Bengal Finance Minister Amit Mitra on Friday said the cooperative banks in the state have lent Rs 36,000 crore in the last five years and urged

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This one private bank has made private lender NPAs look worse than PSU banks

GNPA ratio of IDBI Bank is as high as 27.47 per cent, which is the highest among all the private and public sector banks.

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Motilal Oswal PE to invest Rs 250 crore in product company VVDN

Motilal Oswal will be infusing fresh capital into VVDN and will pick up a significant minority stake. With its main offshore delivery centre based in San Jose, California, VVDN is a product design and original design manufacturing services provider. In addition, it has eight centres across India.

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An insider blew the lid off PMC Bank scam

Three months after probe into the Rs 6,500-crore Punjab and Maharashtra Cooperative (PMC) Bank loan fraud case began, TOI has learnt that the whistleblower was an “insider”. Mumbai police have used the term “whistleblower” for the first time in their chargesheet. Mumbai police’s economic offences wing will file the 32,000-page chargesheet on Friday.

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An insider blew the lid off Rs 6,500-crore PMC scam

The whistleblower, who was a senior bank official, was angry about RBI being systematically kept in the dark.

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GSTR not filed? Property, bank a/c can be attached

A new set of rules have given the green light to GST authorities to attach property and bank accounts of those who fail to file tax returns despite repeated reminders.

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RBI plans to set up ‘college of supervision’

To provide skills to officials to improve risk assessment in banks, NBFCs

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Allahabad Bank gets fresh capital of Rs 2,153 crore from government

The capital infusion is towards contribution of the central government in the preferential allotment of equity shares of the bank during the financial year 2019-20 as the government's investment, it said.

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J-K Bank appointed lead bank convenor for UT of Jammu & Kashmir; SBI gets Ladakh

The government through a gazette notification on August 9, 2019 had reorganised the erstwhile Jammu and Kashmir state under the Jammu and Kashmir Reorganisation Act, 2019, into union territories of Jammu and Kashmir and Ladakh with effect from October 31, 2019.

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Despite cut in rates, corporate fixed deposits attractive

Similarly, Bajaj Finance has lowered deposit rates by 15-40 basis points and the maximum it pays is 8.35%. PNB Housing Finance and Shriram Transport Finance are likely to reduce rates by 20-25 basis points, beginning early January.

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Thursday, December 26, 2019

Airtel Payments Bank enables 24x7 NEFT transfers

Airtel Payments Bank customers will now be able to use the National Electronic Funds Transfer (NEFT) facility at any time of the day. The facility will be available to customers on a 24x7 basis even on holidays enabling then to receive or send funds to any bank from anywhere, anytime, the Bank said.

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RBI plans to purchase, sell G-secs worth ₹10,000 cr each on Monday

Our BureauThe Reserve Bank of India will conduct its second special open market operation (OMO), entailing purchase of a long-dated Government of Indi

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ICRA sees bank credit growth declining to 6.5 per cent- 7 per cent this fiscal

Muted economic growth, lower working capital requirements, risk aversion among lenders impact incremental credit growth

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NETC FASTag can be recharged through BHIM UPI

Customers can now recharge their NETC FASTag through the BHIM UPI app. “Any BHIM UPI-enabled mobile app would now give vehicle owners the opportunity

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RBI to purchase, sale government securities worth Rs 10,000 crore each on Monday

The results of the auction will also be announced on December 29

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Banks turn profitable as NPAs fall for first time in seven years; here’s what helped

The gross NPA ratio fell from 11.2 per cent in FY18 to 9.1 per cent in FY19.

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Paytm, Airtel, Jio, other payment banks’ deposits double within a year; but, losses widen too

While the deposits collected by payments banks such as Paytm, Airtel, Jio Payments Bank doubled in the last financial year, the losses have mounted for the third year in a row with the rise of operating costs.

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NBFC Crisis: RBI data shows eight times more registrations cancelled in FY19; these reasons to blame

169 and 224 NBFC registrations were cancelled in FY17 and FY18 respectively, which suddenly surged to 1,851 cancellations in FY19.

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SBI tops customer complaints list; PSU banks have more irate customers than private lenders

More than three-fourths of all complaints are received in the urban and metropolitan areas that indicate a higher level of awareness among customers.

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Sensex tanks 297 points on F&O expiry

Benchmark sensex plunged 297 points on Thursday, led by losses in index heavyweights Reliance Industries and HDFC Bank amid expiry of December derivatives contracts.

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Was India's NBFC crisis a myth or a reality?

Many termed the immediate aftermath of IL&FS as India's Lehman moment. No doubt India's NBFCs had in 2019 their worst year in a decade amid a severe and protracted struggle for funds. But when there were just two failures which the industry took in its stride without needing any bailout, what does it indicate? Was it really a Lehman-like moment?

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Expansion plans push BFSI to reskill staff

As banks and insurance companies promote machine learning- (ML-) and artificial intelligence- (AI-) driven products and services, one cannot overlook the growing demand for sales and marketing as financial institutions plan aggressive expansion in the tier-3 and -4 market, said Robin Bhowmik, chief business officer, Manipal Global Academy of BFSI.

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Fraud-hit Punjab National Bank alleges it has been swindled again

Scandal-hit lender Punjab National Bank alleged it has been cheated -- its third complaint since 2018 when it suffered through a Rs 14249.00 crore blow.

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Analyst corner: AUBANK gains from monthly payouts, higher interest rates

With the bank appearing set to expand market share in chosen business segments, we visited its regional office and one of its largest branches in Pune to understand the progress that it is making.

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Advantage captives as global finance companies move core tech work in-house

More than 78 global banking and financial services companies, including Goldman Sachs, Deutsche Bank, JP Morgan and Standard Chartered, have set up captive units here that employ a combined 250,000 people, according to industry consultancy Zinnov.

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Wednesday, December 25, 2019

DHFL set to resume lending in next few weeks

Resumption of normal business operations, albeit on a smaller scale, is aimed at strengthening DHFL’s credentials as a ‘going concern’ and eventually helping secure better valuations at the closure of the ongoing resolution process. Central bank- appointed administrators at DHFL have decided to lend about Rs 500 crore every month beginning the next few weeks.

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Lacklustre show by RRBs in 2018-19: RBI report

Lacklustre growth in interest income, decline in operating profits, and a considerable growth in wage bills affected the performance of Regional Rura

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CBI books former Maruti MD in loan fraud case

The CBI FIR, registered on December 20, alleged that Jagdish Khattar, former managing director of Maruti Suzuki, along with “unknown public servants”, cheated banks as he had failed to repay his debt. Khattar, however, denied the allegations.

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Payments banks’ losses mount in FY19, but deposits more than doubled: RBI report

It may take time for payments banks to break even, the RBI notes

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Andhra Bank receives best performing bank award

Andhra Bank has received Best Performing Bank Award for RSETIs (2nd Rank) for 2018-19.Kul Bhushan Jain, Executive Director of the Bank received the Aw

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Banks’ NPAs decline for first time in seven years

The Reserve Bank of India (RBI) report on 'trend and progress of banking in India', shows that the gross NPAs declined to 9.1% in March 2019 from 11.2% in March 2018 as recognition of bad loans neared completion. The report showed that all bank groups recorded an improvement in asset quality, with PSBs experiencing a drop both in the GNPA and net NPA ratios.

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Karnataka Bank launches tab banking service

Karnataka Bank has launched ‘KBL Xpress SB Accounts’ through tab banking.The bank said in a statement that it can on-board the prospective customer a

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RBI warns banks over focus on retail loans

The banking regulator called for a granular lending strategy to offset risk concentration in its annual publication on trends and progress of banking in India.

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Net blockade leaves UP at a net financial loss

Banking services hit, including movement of cash & branch ops; UPI & AEPS payments, eKYC also affected. Violent protests against the Citizenship Amendment Act (CAA) have led to statewide imposition of prohibitory orders under Section 144, heavy deployment of forces and shutdown of internet in several areas of UP.

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RBL Bank bets big on credit card biz

Targets a customer base of 27 lakh by the end of FY20

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PMC Bank fraud hits co-op bank sector hard



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Payments banks’ FY19 losses swell to Rs 626 crore



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Mint street: Loan stress rose in H1FY20, says RBI

After rising for seven years in a row, the gross non-performing asset (GNPA) ratio of banks declined in the financial year 2018-19.

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Gross NPA ratio falls in FY19 for first time in seven years

However, stress in large borrower accounts has been on the rise for both private banks and public sector banks in the first half of 2019-20

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NBFC crisis a result of inherent weakness, not just liquidity: RBI

NBFCs’ credit to commercial real estate decelerated in 2018-19, reflecting their risk aversion in light of the slowdown in real estate sector despite expansion of bank credit to the sector.

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PSBs accounted for bulk of frauds reported in FY19

The report by the central bank indicated that frauds have been predominantly occurring in the loan portfolio, both in terms of number and value.

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Policy action needed to boost green financing: RBI

The development of green financing faces many challenges including false compliance claims, non-standard definitions of what constitutes green loans, and maturity mismatches between long-term green investment and relatively short-term interests of investors, the RBI said.

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Uniform regulatory structure for co-op banks top priority: RBI

The consolidated balance sheet of UCBs expanded moderately in 2018-19 on the back of robust deposit growth which financed the pick-up in lending.

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RBI launches new prepaid payment instrument for digital transactions

The Reserve Bank on Tuesday introduced a new semi-closed prepaid payment instrument (PPI) which can be used for transaction of goods and services up to a limit of Rs 10,000.

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PSBs’ financial health should be assessed by their ability to raise resources from markets: RBI

The financial health of state-owned banks should be assessed by their ability to raise resources from markets rather than depending on capital infusion from the government, according to a report by the RBI.

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Gujarat banks’ gross NPAs rise to Rs 43,000 crore as of September 2019

Gross NPAs in overall agricultural segment remained at 7.56 per cent of the outstanding amount, while those of the MSMEs were the highest at 8.02 per cent of outstanding, the report reveals.

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Total frauds at banks rise 74 pc to Rs 71,543 crore in 2018-19: RBI

Banks reported a total fraud of Rs 71,543 crore in 2018-19, a 74 per cent increase as against Rs 41,167 crore in the previous financial year, according to a report by the RBI.

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Cooperative banks’ assets nearly halve to 10.6% in FY19 from FY 05: RBI

As more and more cooperative banks go belly up, their combined assets nearly halved to 10.6 per cent of the assets of commercial banks in FY19 from 19.4 per cent in FY05, RBI report says.

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Tuesday, December 24, 2019

NBFC balance sheet grew at a slower pace in FY19, FY20 H1

The consolidated balance sheet of non-banking financial companies (NBFCs) expanded at a slower pace in 2018-19 and in the first half of 2019-20 in th

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‘Urban co-operative banks face dual challenges’

The unearthing of irregularities in one of the urban co-operative banks (UCBs) has brought to the forefront issues related to low capital base, weak

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IBC boosts the recovery of stressed assets

Our BureauThe recovery of stressed assets by scheduled commercial banks (SCBs) improved during 2018-19, propelled by resolutions under the Insolvency

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ESAF Small Finance Bank appoints PR Ravi Mohan as its new chairman

P R Ravi Mohan has been appointed as the new chairman of Kerala-based ESAF Small Finance Bank.

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Banks’ asset quality improves,gross NPAs decline to 9.1%: RBI

Our BureauBanks have seen significant improvement in their asset quality and their gross non-performing assets fell to 9.1 per cent by the end of Sep

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RBI optimistic about mergers creating global scale PSBs

Soon after the merger of its five associates, the SBI had a short stint in the global 50 list with a balance-sheet of around USD 450 billion, but soon slipped following the massive pile of bad loans in the system, which shrank its balance-sheet.

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RBI cautions banks on possible risks in retail segment in its report on banking for FY19

The RBI observed in its Banking Report for FY19 that in the event of demand for credit slowing down from the corporate sector, the retail segment saw a surge in lending. The RBI noted that the bad loan overhang remains in the banking segment even as the resolutions under the IBC framework have seen an improvement.

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Gross NPA ratio improves to 9.1 as of September end: RBI

As bad loan recognition process nears completion, gross non-performing loans of banks improved to 9.1 per cent as of end-September 2019, compared to

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Gross NPA ratio improves to 9.1% as of Sept-end: RBI

As bad loan recognition process nears completion, gross non-performing loans of banks improved to 9.1 per cent as of end-September 2019, compared to 11.2 per cent in FY18, according to a Reserve Bank of India (RBI) report.

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