Corporation Bank donates Rs 3.38 cr for cyclone Fani victims in Odisha

State-owned Corporation Bank has donated Rs 3.38 crore towards relief and rehabilitation works for the people affected by cyclone Fani in Odisha. The

from Business Line - Money & Banking http://bit.ly/2ZzSH5a

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Strong May for most private insurance players; inflows to equity MFs still muted

Individual APE growth of 27% y-o-y in month; inflows to equity MFs are still muted.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Kvp01Z

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SBI plans tapping Singapore SME businesses

The SBI plans to offer its YONO app, an omni-channel service at fingertip, to manage a wide range of financial services here.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2IwZtmz

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Banks spend $1 trillion on digital, but few reap the rewards

All the banks studied, based in 21 countries, started at roughly similar rates of return on equity in 2011, but by 2017 the banks that Accenture identified as “digital focused” had ROE that rose 0.9 percentage points.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2XoqjFX

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Discussing with banks to provide foreign currency loans to exporters, says Piyush Goyal

Goyal also said Export Credit Guarantee Corporation of India (ECGC) can play a role of credit enhancement agency for exporters.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2WVnSX3

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Paytm Payments Bank focuses on transaction volumes

Paytm Payments Bank, which turned profitable in the second year of its operation, plans to focus on corporate salary accounts and direct money transfers in the current financial year to augment transaction volumes.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2N39ht7

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Banks spend $1 trillion on digital, but few reap the rewards

All the banks studied, based in 21 countries, started at roughly similar rates of return on equity in 2011, but by 2017 the banks that Accenture identified as “digital focused” had ROE that rose 0.9 percentage points.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2XoqjFX

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Discussing with banks to provide foreign currency loans to exporters, says Piyush Goyal

Goyal also said Export Credit Guarantee Corporation of India (ECGC) can play a role of credit enhancement agency for exporters.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2WVnSX3

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Why customer-data mining is serious business for banks

From sending special offers on restaurants to burger-loving current account holders to selling anonymised credit card records, banks are racing to mon

from Business Line - Money & Banking http://bit.ly/2Iv14JC

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Repaid ₹875 crore in the last two months, only ₹75 crore CP outstanding : Reliance Capital

Anil Ambani-led Reliance Capital said it has repaid ₹875 crore of outstanding commercial paper in the last two months, and that it will repay the bala

from Business Line - Money & Banking http://bit.ly/2N1TNWh

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Discussing with banks to provide foreign currency loans to exporters: Piyush Goyal

Commerce and industry minister Piyush Goyal on Friday said the ministry is in dialogue with banks to see ways to extend foreign currency loans to exporters. Addressing members of the CII here, he said there are ways to resolve the problem of inadequate and expensive credit without putting a significant stress to the exchequer.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2Y3i2nL

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Radiant Life Care completes Max Healthcare buy

Global investment firm Kohlberg Kravis Roberts-backed hospital management company Radiant Life Care has completed the acquisition of a 49.7 per cent s

from Business Line - Money & Banking http://bit.ly/2xbgfRG

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Mahindra Fin and Manulife form asset management joint venture

Mahindra & Mahindra Financial Services, through its subsidiary, Mahindra Asset Management Company, has entered into a joint venture with Canada-ba

from Business Line - Money & Banking http://bit.ly/2FpOw4k

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Nod for Indiabulls Housing-LVB merger

Indiabulls Housing Finance said it has received approval from the Competition Commission of India for the proposed merger with Lakshmi Vilas Bank. “T

from Business Line - Money & Banking http://bit.ly/2FpOwRS

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To boost profitability, SBI creates new group to focus on credit-light sectors

The move is aimed at increasing the PSB’s non-interest income

from Business Line - Money & Banking http://bit.ly/2ZHFzLF

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Organisational restructuring pays off for Syndicate Bank

To improve efficiency in operations, Syndicate Bank has revamped its zonal and regional offices, creating one new zone and 35 new regional offices.

from Business Line - Money & Banking http://bit.ly/2MZERYw

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BSR & Associates resigns as statutory auditor of IL&FS Investment Managers

The announcement has come a day after BSR & Associates, a KPMG group associate, resigned as statutory auditor of IL&FS Financial Services (IFIN).

from Banking/Finance-Industry-Economic Times http://bit.ly/2ZBdipP

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Banks spend $1 trillion on digital, but few benefit: study

The most digitally focused banks became more profitable through cost-cutting and market has rewarded them with higher valuations, says Accenture report

from Business Line - Money & Banking http://bit.ly/2WUmhRh

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Bajaj Finance is a rare bright spot amid the NBFC crisis

Loan diversification, asset-light operations has driven the growth

from Business Line - Money & Banking http://bit.ly/2x5gZYz

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As we enter Fintech's lend game, we must chart new growth trajectories

The first wave of fintech in India and pretty much globally was dominated by disruption of the payments space. With payments being more volume/transactiona...

from Banking/Finance-Industry-Economic Times http://bit.ly/2Y4JG3K

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Indiabulls Housing Finance-Lakshmi Vilas Bank merger gets CCI nod

The combined entity, with employee strength of 14,302, will have a loan book size of Rs 1.23 lakh crore for the first nine-month period of 2018-19.

from Banking/Finance-Industry-Economic Times http://bit.ly/2WWsRqz

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DSC highway arm faces insolvency process

Lenders have referred DSC's Lucknow-Sitapur project to the National Company Law Tribunal (NCLT) for insolvency resolution, even as banks are grappling with their debt problems with two other projects of what was once a high-profile group.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2J2TbdL

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India Post Payments Bank eying to be preferred gateway for govt subsidy transactions

To boost volumes for its payments business, India Post Payments Bank (IPPB) is demonstrating its last-mile reach through its massive network of access points so as to become the preferred banking partner for various subsidy transfers of central and state government schemes.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/31LW9f6

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India Post Payments Bank eying to be preferred gateway for govt subsidy transactions

To boost volumes for its payments business, India Post Payments Bank (IPPB) is demonstrating its last-mile reach through its massive network of access points so as to become the preferred banking partner for various subsidy transfers of central and state government schemes.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/31LW9f6

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IL&FS Securities Services faces Rs 380 crore hit on allied dodgy deal

Late 2018, Allied took a significant position in the options market and had put Rs 380 crore of collateral security in the form of mutual funds with the custodian that cleared these trades.

from Banking/Finance-Industry-Economic Times http://bit.ly/2ZygHG3

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IFIN group lending: BSR says it had sought clarity from RBI

BSR said the investigators had made false allegations against the auditors without understanding accounting principles and regulations.

from Banking/Finance-Industry-Economic Times http://bit.ly/2ZCdGEu

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FICCI writes to RBI seeking relaxed norms for NBFCs

IFCs should be allowed to issue non-convertible debentures to retail investors, FICCI added

from Business Line - Money & Banking http://bit.ly/2KrOe1a

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Bank of Japan keeps interest rate steady

Governor Haruhiko Kuroda says BOJ will ease 'without hesitation' if needed

from Business Line - Money & Banking http://bit.ly/2KrFpo0

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IBA draft plan aims to help revive stalled projects

Lenders will soon move to work on a resolution plan for several stressed projects with the Indian Banks’ Association (IBA) preparing a draft inter-creditor agreement (ICA) based on Sashakt — an initiative by former finance minister Piyush Goyal to resolve stressed loans, particularly those in the power sector.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2x5bk4R

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NBFC woes: Record Rs 1.1 lakh crore loans due over 90 days

Facing a record amount of debt that’s about to mature, non-bank financing companies (NBFCs) are finding their troubles worsening as a crisis of credibility starts to bite.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2XncVlo

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NBFC woes: Record Rs 1.1 lakh crore loans due over 90 days

Facing a record amount of debt that’s about to mature, non-bank financing companies (NBFCs) are finding their troubles worsening as a crisis of credibility starts to bite.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2XncVlo

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Digital payments zoom past FY19 target driven by private lenders

Online transactions rise to 31.34 billion compared to 20.7 billion in FY18; Yes Bank, IndusInd, ICICI Bank lead the charge.

from Banking/Finance-Industry-Economic Times http://bit.ly/2WOU2DG

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Foreign PE funds pump in $200 million into logistics in Bengaluru, Chennai, Pune

The logistics sector had a massive jump-start in the first quarter of 2019 when private equity players like Morgan Stanley, Warburg Pincus and LOGOS India pumped in nearly $200 million into cities like Bengaluru, Chennai and Pune.

from Banking/Finance-Industry-Economic Times http://bit.ly/2WRZPsa

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NBFC woes: Record Rs 1.1 lakh crore loans due over 90 days

Facing a record amount of debt that’s about to mature, non-bank financing companies (NBFCs) are finding their troubles worsening as a crisis of credibility starts to bite.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2XncVlo

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NPA resolution: IBA releases revised ICA draft to help banks

The Indian Banks’ Association (IBA) released a revised draft of the inter creditor agreement (ICA) on Tuesday, in compliance with the Reserve Bank of India’s revised circular on ‘prudential framework for resolution of stressed assets’, so that bankers could start work on resolution of specific stressed accounts.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2KtZF8j

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Banks’ non-food credit growth at a 14-month low

Non-food credit growth in the banking system fell for the fifth straight fortnight to 12.26% year-on-year (y-o-y) — a 14-month low — for the period ended June 7, down from 12.63% in the previous fortnight.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2RqhEx7

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RBI slaps Rs 10 lakh fine on South Indian Bank

"Examination in this regard revealed violation of RBI directions on 'Guarantees and Co-acceptances' and a notice was issued to the bank advising it to show cause as to why penalty should not be imposed for non-compliance with the directions," the RBI said.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Zxirzg

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RBI holds meeting over coin-storage crisis of banks in Shirdi

As of today, Rs 1.5 crore of the SSST's money in the form of coins is with 11 banks where the trust has accounts, a trust official said.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2MY6i58

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NBFC woes: Record Rs 1.1 lakh crore loans due over 90 days

Facing a record amount of debt that’s about to mature, non-bank financing companies (NBFCs) are finding their troubles worsening as a crisis of credibility starts to bite.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2XncVlo

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NPA resolution: IBA releases revised ICA draft to help banks

The Indian Banks’ Association (IBA) released a revised draft of the inter creditor agreement (ICA) on Tuesday, in compliance with the Reserve Bank of India’s revised circular on ‘prudential framework for resolution of stressed assets’, so that bankers could start work on resolution of specific stressed accounts.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2KtZF8j

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Banks’ non-food credit growth at a 14-month low

Non-food credit growth in the banking system fell for the fifth straight fortnight to 12.26% year-on-year (y-o-y) — a 14-month low — for the period ended June 7, down from 12.63% in the previous fortnight.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2RqhEx7

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RBI slaps Rs 10 lakh fine on South Indian Bank

"Examination in this regard revealed violation of RBI directions on 'Guarantees and Co-acceptances' and a notice was issued to the bank advising it to show cause as to why penalty should not be imposed for non-compliance with the directions," the RBI said.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Zxirzg

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RBI holds meeting over coin-storage crisis of banks in Shirdi

As of today, Rs 1.5 crore of the SSST's money in the form of coins is with 11 banks where the trust has accounts, a trust official said.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2MY6i58

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NPA crisis: PNB’s recovery of bad loans doubled to Rs 20,000 crore in FY19

As a result, as on March 31, 2019, 1,142 borrowers were declared as wilful defaulters, according to the annual report.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/31JCa0E

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NPA resolution: IBA releases revised ICA draft to help banks

The Indian Banks’ Association (IBA) released a revised draft of the inter creditor agreement (ICA) on Tuesday, in compliance with the Reserve Bank of India’s revised circular on ‘prudential framework for resolution of stressed assets’, so that bankers could start work on resolution of specific stressed accounts.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2KtZF8j

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Banks’ non-food credit growth at a 14-month low

Non-food credit growth in the banking system fell for the fifth straight fortnight to 12.26% year-on-year (y-o-y) — a 14-month low — for the period ended June 7, down from 12.63% in the previous fortnight.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2RqhEx7

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RBI slaps Rs 10 lakh fine on South Indian Bank

"Examination in this regard revealed violation of RBI directions on 'Guarantees and Co-acceptances' and a notice was issued to the bank advising it to show cause as to why penalty should not be imposed for non-compliance with the directions," the RBI said.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Zxirzg

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RBI holds meeting over coin-storage crisis of banks in Shirdi

As of today, Rs 1.5 crore of the SSST's money in the form of coins is with 11 banks where the trust has accounts, a trust official said.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2MY6i58

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NPA crisis: PNB’s recovery of bad loans doubled to Rs 20,000 crore in FY19

As a result, as on March 31, 2019, 1,142 borrowers were declared as wilful defaulters, according to the annual report.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/31JCa0E

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To combat cyber attacks, banks resort to mock drills

With increasing incidence of digital frauds and malware attacks in financial transactions, banks are now queuing up for cyber drills to check their p

from Business Line - Money & Banking http://bit.ly/2FkvIDN

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Ample liquidity in banking system, says HDFC chief

HDFC Chairman Deepak Parekh, on Wednesday, said there is sufficient liquidity in the market and that it is up to individual banks to decide whom to le

from Business Line - Money & Banking http://bit.ly/2L02i1i

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RBI slaps ₹10-lakh fine on South Indian Bank

The Reserve Bank of India (RBI), on Wednesday, said it has imposed a monetary penalty of ₹10 lakh on South Indian Bank (SIB) for non-compliance with d

from Business Line - Money & Banking http://bit.ly/2FhxN3a

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Jalan panel report on RBI’s capital size to be finalised by June-end: Das

The Bimal Jalan committee, which is looking into the size of capital reserves that the RBI should hold, will have one more meeting before finalising

from Business Line - Money & Banking http://bit.ly/2IuuXdn

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Mumbai Metro One: Syndicate Bank seeks advice on Rs 1,928 crore loan

The bank’s Rs 1,928-crore exposure to the public-private partnership (PPP) is understood to have been classified as a non-performing asset (NPA) in 2018 and it is currently assessing a restructuring proposal developed by EY India for the company.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2ZziHxw

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Federal Bank to raise up to Rs 500 cr through Basel III-compliant bonds

Private sector lender Federal Bank Wednesday announced plans to raise up to Rs 500 crore by issuing Basel III-compliant bonds on private placement basis.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2ZwgVxk

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PNB's recovery of bad loans doubled to Rs 20,000 cr in FY19

The bank suffered losses allegedly after jewellers Nirav Modi, Mehul Choksi and some bank employees collided to defraud PNB of about Rs 1,000 crore.

from Banking/Finance-Industry-Economic Times http://bit.ly/2MZnqrb

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Economic advisory panel rejects Subramanian’s claim on over-estimation of GDP

Says he ignored data on services, agriculture and displayed blind trust in CMIE

from Business Line - Money & Banking http://bit.ly/2IUPu9J

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Turtlemint, Kotak Life Insurance partner for distribution

Insuretech firm Turtlemint has signed up with Kotak Life Insurance to offer its products on its platform.“We are starting with four to five products

from Business Line - Money & Banking http://bit.ly/2x0BkhP

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Mumbai Metro One: Syndicate Bank seeks advice on Rs 1,928 crore loan

The bank’s Rs 1,928-crore exposure to the public-private partnership (PPP) is understood to have been classified as a non-performing asset (NPA) in 2018 and it is currently assessing a restructuring proposal developed by EY India for the company.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2ZziHxw

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Mumbai Metro One: Syndicate Bank seeks advice on Rs 1,928 crore loan

The bank’s Rs 1,928-crore exposure to the public-private partnership (PPP) is understood to have been classified as a non-performing asset (NPA) in 2018 and it is currently assessing a restructuring proposal developed by EY India for the company.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2ZziHxw

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Mumbai Metro One: Syndicate Bank seeks advice on Rs 1,928 crore loan

The bank’s Rs 1,928-crore exposure to the public-private partnership (PPP) is understood to have been classified as a non-performing asset (NPA) in 2018 and it is currently assessing a restructuring proposal developed by EY India for the company.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2ZziHxw

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Federal Bank to raise up to Rs 500 cr through Basel III-compliant bonds

Private sector lender Federal Bank Wednesday announced plans to raise up to Rs 500 crore by issuing Basel III-compliant bonds on private placement basis.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2ZwgVxk

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Mumbai Metro One: Syndicate Bank seeks advice on Rs 1,928 crore loan

The bank’s Rs 1,928-crore exposure to the public-private partnership (PPP) is understood to have been classified as a non-performing asset (NPA) in 2018 and it is currently assessing a restructuring proposal developed by EY India for the company.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2ZziHxw

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HDFC to acquire 51.2% stake in Apollo Munich Health Insurance

The Housing Development Finance Corp on Wednesday said it will buy a 51.2 per cent stake in Apollo Hospital Group's insurance arm, Apollo Munich Healt

from Business Line - Money & Banking http://bit.ly/31ISdLV

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Federal Bank to raise up to Rs 500 cr through Basel III-compliant bonds

Private sector lender Federal Bank Wednesday announced plans to raise up to Rs 500 crore by issuing Basel III-compliant bonds on private placement basis.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2ZwgVxk

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Haircuts for operational creditors in line with that for financial creditors

In absolute terms though, the loss to the financial creditors has been significantly higher compared to the operational creditors.

from Banking/Finance-Industry-Economic Times http://bit.ly/2ISiHC9

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Federal Bank to raise up to Rs 500 cr through Basel III-compliant bonds

Private sector lender Federal Bank Wednesday announced plans to raise up to Rs 500 crore by issuing Basel III-compliant bonds on private placement basis.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2ZwgVxk

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Troubles worsen for India’s non-bank financing companies as maturing debts pile up

The shadow lenders, which have been under increased strain after the collapse of IL&FS Group last year, have a record 1.1 trillion rupees ($15.8 billion) of local-currency bonds due next quarter,

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2KsvNtd

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Rain-hit ICC World Cup matches to cost insurers Rs 180 crore

The claims are for losses to television broadcasters who have already paid ICC for broadcast rights and have now lost on advertising revenue.

from Banking/Finance-Industry-Economic Times http://bit.ly/2WPmpBu

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Huge wall of maturing debt looms for NBFCs

NBFCs have a record number of bonds due next quarter, data shows.

from Business Line - Money & Banking http://bit.ly/2XlBKOC

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YES Bank's road ahead: Will investors say yes to Gill’s plans?

Kapoor has said Yes to Gill, for now. What about investors?

from Banking/Finance-Industry-Economic Times http://bit.ly/2Kp6M27

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ED likely to probe IL&FS Financial Services dealings after SFIO charge sheet

New probe likely to target six erstwhile co directors; agency questions Deloitte India CEO again.

from Banking/Finance-Industry-Economic Times http://bit.ly/2Iohyn0

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‘Credit market still exposed to risks’

Such risks are likely to reignite investor concern, says IDFC fund manager

from Business Line - Money & Banking http://bit.ly/2wZnVGN

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Can central banks create a greener world?

Central bankers are professional worriers. So it is hardly surprising that they are increasingly fretting about climate change. When it comes to chang

from Business Line - Money & Banking http://bit.ly/2FiYXH3

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Karnataka Vikas Grameen Bank eyes ₹28,000-cr business in FY20

Karnataka Vikas Grameen Bank (KVGB), a regional rural bank headquartered in Dharwad, Karnataka, is targeting a business turnover of ₹28,000 crore for

from Business Line - Money & Banking http://bit.ly/2Kq7z2Q

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YES Bank’s scrip falls 6 per cent

It fell by a similar 5.94 per cent on the NSE, and closed the day at ₹109.25 apiece

from Business Line - Money & Banking http://bit.ly/2WLIYXX

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HDFC Bank slapped with Rs 1-crore penalty

The Reserve Bank of India (RBI) has imposed a ₹1-crore penalty on private sector lender HDFC Bank for non-compliance with directions on ‘Know Your Cus

from Business Line - Money & Banking http://bit.ly/2WLIWPP

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IDBI Bank, Tata AIG in bancassurance pact

IDBI Bank has entered a bancassurance corporate agency agreement with Tata AIG. This is to provide the general insurer’s products to the bank’s two c

from Business Line - Money & Banking http://bit.ly/2XZdQpa

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Bajaj Allianz and Citibank join hands to distribute insurance products

Bajaj Allianz General Insurance and Citibank have signed an agreement to distribute Bajaj Allianz’s insurance’s products.“Bajaj Allianz General Insura

from Business Line - Money & Banking http://bit.ly/2XiwA61

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Bank fraud case: ED attaches over 6,000 vehicles of Surat-based firm

The Enforcement Directorate on Tuesday said it has attached more than 6,000 vehicles worth about ₹ 1,610 crore in connection with a bank loan fraud a

from Business Line - Money & Banking http://bit.ly/2IoRMPh

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Government begins groundwork for capital infusion in regional rural banks

The Reserve Bank of India has also been approached for amortising their liabilities over a time period.

from Banking/Finance-Industry-Economic Times http://bit.ly/2WLDeNT

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Canara Bank to raise up to Rs 12,000 cr in FY’20

State-owned Canara Bank on Tuesday said it proposes to raise up to Rs 12,000 crore through a mix of equity and bonds during the current fiscal to fun

from Business Line - Money & Banking http://bit.ly/2IWyVKu

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Ind-Ra downgrades Punjab National Bank’s ₹ 6,750 cr AT1 bonds

The rating of the AT1 bond signifies the weakness in the standalone operations of the bank

from Business Line - Money & Banking http://bit.ly/31HpffJ

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View: Budget must outline more banking reforms

But what needs to be done quickly is to vest ownership of all banks in a single holding company, assign BBB as its board and leave it to appoint the PSB boards.

from Banking/Finance-Industry-Economic Times http://bit.ly/2IPkE2r

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RBI to examine concerns over data localisation rule: Centre

Domestic companies such as Reliance Jio have spoken up in support the government’s data localisation efforts

from Business Line - Money & Banking http://bit.ly/2Fi2jtA

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Razorpay raises $75 mn from Sequoia Capital, others

Payments solution provider Razorpay on Tuesday said it has raised $ 75 million in its Series C funding led by Sequoia India and Ribbit Capital, along

from Business Line - Money & Banking http://bit.ly/2FetRQU

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Kerala Financial Corpn’s annual net profit jumps 113%

Kerala Financial Corporation has posted a net profit of ₹17.70 crore for FY 2018-19, registering a growth of 113 per cent over ₹8.30 crore of the pre

from Business Line - Money & Banking http://bit.ly/2ZtO4tx

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'RBI to review data storage rules for payment cos'

The Reserve Bank of India (RBI) will look into concerns about data storage rules that have been raised by companies, a government statement said on Tuesday, months after entities such as Mastercard and Visa were forced to store more of their data locally in the country.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2WLbP3g

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Bharti AXA General premium income surges 29% to Rs 2,285 cr in FY19

The company also achieved 22 per cent growth in retail business to Rs 1,392 crore in FY19 from Rs 1,138 crore in FY18.

from Banking/Finance-Industry-Economic Times http://bit.ly/2WNCO9N

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Canara Bank to expand its rooftop solar power initiative

The public sector bank looks to set up rooftop solar plants at all of its properties across the country.

from Business Line - Money & Banking http://bit.ly/2Zxhszc

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Chinese banks demand $2.1 billion from tycoon Anil Ambani's RCom

State-owned China Development Bank, with loans worth Rs 9,860 crore ($1.4 billion) was the biggest creditor to the indebted telecom company. Exim Bank of China sought payment of Rs 3,360 crore, while Industrial and Commercial Bank of China claimed Rs 1,554 crore. The bankruptcy court is hearing lenders as RCom attempts to find buyers for the assets and pay the debt.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/31GAHrZ

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Yes Bank plans to raise $1.2 bn to boost capital, says CEO Ravneet Gill

Yes Bank Ltd, Asia’s worst-performing bank stock this quarter, plans to raise $1.2 billion over 18 months to bolster its capital buffer through a mix

from Business Line - Money & Banking http://bit.ly/2XfBe4L

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Reliance Capital to probe PwC’s allegations of fraud

Law firm Crawford Bayley & Co likely to be appointed for ‘end use review’ of funds transferred between two group entities.

from Banking/Finance-Industry-Economic Times http://bit.ly/2FeK74k

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Lender trio looks to exit SARE, salvage Rs 1,000-crore exposure

KKR India Financial, Altico Capital and Edelweiss are in talks with potential investors.

from Banking/Finance-Industry-Economic Times http://bit.ly/2MTJN0W

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Deloitte global CEO met top officials to persuade them against the possible ban

Deloitte global CEO Punit Renjen apprises North Block officials about impact of ban on Indian market

from Banking/Finance-Industry-Economic Times http://bit.ly/31FNniv

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ICICI Bank to NCLAT: Direct NCLT Allahabad for early hearing on insolvency plea against Jaiprakash Associates

In its plea before the appellate tribunal, ICICI Bank submitted that there has been no progress in its petition filed before the NCLT Allahabad in last nine months.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2WLaN2r

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Private banks cut interest rates on deposits by up to 25 bps

Top private sector lenders have cut their interest rates on deposits by up to 0.25 per cent over the last week, officials said Monday.Generally, an i

from Business Line - Money & Banking http://bit.ly/2x2j2g0

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ICICI Bank to NCLAT: Direct NCLT Allahabad for early hearing on insolvency plea against Jaiprakash Associates

In its plea before the appellate tribunal, ICICI Bank submitted that there has been no progress in its petition filed before the NCLT Allahabad in last nine months.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2WLaN2r

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RBI chief expects reversal of economic weakness

Reserve Bank of India Governor Shaktikanta Das expects a reversal of the current weaknesses in some of the indicators in the economy following the end

from Business Line - Money & Banking http://bit.ly/2XU2uCH

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Bandhan Bank cuts microloan rates

Bandhan Bank has reduced interest rate on microloans by 70 basis points to 17.95 per cent from 18.65 per cent at present. The new rate of interest wou

from Business Line - Money & Banking http://bit.ly/2Rkvn8J

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Why the NBFC crisis is entering a new phase

Just as Indian banks emerge from under a pile of bad loans to large energy, steel and other industrial companies, they are facing a new reckoning from

from Business Line - Money & Banking http://bit.ly/2XSMxwP

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Bandhan Bank slashes micro loan rates below 18%

The new lending rate will be applicable to new loans from June 18, 2019, the bank said Monday.

from Banking/Finance-Industry-Economic Times http://bit.ly/2ZpAKX0

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Govt likely to sell stake in weak banks

The government is considering selling controlling stakes in some of the smaller state-run banks in a bid to raise funds to boost spending on programme

from Business Line - Money & Banking http://bit.ly/2KtCrj1

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Financial stability a key metric for monetary policy now: Shaktikanta Das

Financial stability has emerged as a key consideration for monetary policy formulation in the post-2008 financial crisis world beyond the imperatives of inflation and growth, Reserve Bank Governor Shaktikanta Das said Monday.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2KWin86

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Banks give up on Jet's revival, send it to NCLT

State Bank of India-led consortium of lenders on Monday decided to send the grounded Jet Airways to the National Company Law of Tribunal as they have not yet received any concrete proposal for the airline. The decision was taken after a meeting of the lenders. The airline, which was grounded on April 17, owes Rs 8.74 cr to Shaman Wheels and Rs 53 lakh to Gaggar.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2KVoKbL

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What to do with debt funds

Even as bond funds reel under defaults and rating downgrades, the bond market is witnessing a change in trajectory. Recently, the central bank cut the repo rate by 25 bps—the third straight cut takes the total to 75 bps this year.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2Xj0KpJ

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Shadow banking crisis raises risk of Indian bad-loan redux

The spreading debt woes have fueled talk that the shadow banking crisis is entering a second, more dangerous, phase.

from Banking/Finance-Industry-Economic Times http://bit.ly/31CCvCk

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UCO Bank declares Yashovardhan Birla as wilful defaulter

State-owned lender UCO Bank has declared Yashovardhan Birla as wilful defaulter for non-payment of Rs 67.55 crore given to Birla Surya Ltd.The loan w

from Business Line - Money & Banking http://bit.ly/2WNlh1p

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Direct NCLT Allahabad for early hearing on insolvency plea against JAL: ICICI Bank to NCLAT

In its plea before the appellate tribunal, ICICI Bank submitted that there has been no progress in its petition filed before the NCLT Allahabad in last nine months.

from Banking/Finance-Industry-Economic Times http://bit.ly/2KpYmaC

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UCO Bank declares Yash Birla wilful defaulter, puts notice with photo

In a master circular on July 1, 2015, the Reserve Bank of India (RBI) had said no additional facilities should be granted by any bank or financial institution to listed wilful defaulters.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2IKz57L

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Bharti AXA General Insurance posts maiden full-year profit at Rs 3 crore

Bharti AXA General Insurance, a private general insurer, has posted its first ever full year profit, recording net profit of Rs 3 crore in 2018-19. T

from Business Line - Money & Banking http://bit.ly/2IOWVz7

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Jet Airways lenders running out of runway

Lenders do not see much of an upside for them from any of the proposals for reviving Jet Airways. Most of the proposals involve banks taking a haircut and are subject to their getting another investor. In the absence of Naresh Goyal, there isn’t any promoter for the lenders to chase.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2Zu2gTc

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UCO Bank declares Yash Birla wilful defaulter, puts notice with photo

In a master circular on July 1, 2015, the Reserve Bank of India (RBI) had said no additional facilities should be granted by any bank or financial institution to listed wilful defaulters.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2IKz57L

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Yash Birla named 'wilful defaulter' by UCO Bank

Notifying Yashovardhan Birla as a wilful defaulter, Kolkata-based lender UCO Bank said the company had a credit limit of Rs 100 crore, of which Rs 67 crore plus interest was due. The loan was classified as a non-performing asset in 2013. Although the group has more than a dozen companies, most of the businesses are stressed and not in a position to repay creditors.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2FpnFFR

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Swiss govt to share account info of 50 Indians

Swiss authorities are in process of sharing details of at least 50 Indian nationals having accounts in Switzerland-based banks, with regulatory and enforcement agencies in the two countries tightening their noose on individuals suspected to have amassed illicit wealth.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2WKC6Kr

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Private banks beat state-run peers in deposit rate race

Since the past three RBI rate cuts, large banks have cut the MCLRs (Marginal Cost of Funds based Lending Rates) in the range of 5-10 bps, according to Motilal Oswal.

from Banking/Finance-Industry-Economic Times http://bit.ly/2WMTdez

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UCO Bank declares Yash Birla wilful defaulter, puts notice with photo

In a master circular on July 1, 2015, the Reserve Bank of India (RBI) had said no additional facilities should be granted by any bank or financial institution to listed wilful defaulters.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2IKz57L

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Ministry of Corporate Affairs looks to freeze IL&FS ex-directors’ properties

Likely to seek court order; probe to focus on group’s infra projects.

from Banking/Finance-Industry-Economic Times http://bit.ly/2IMWjKA

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Punjab National Bank puts 6 NPAs worth over ₹1,000 crore on block

Reserve price fixed at ₹342 cr; bids to be accepted till June 26

from Business Line - Money & Banking http://bit.ly/2XeGqG1

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Stressed a/cs: FinMin tells public sector banks to provide details of expected recoveries, provisions

The Finance Ministry has sought information from public sector banks (PSBs) on their expectation of recoveries and provisions held in respect of stres

from Business Line - Money & Banking http://bit.ly/2IFlZbK

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UCO Bank declares Yashovardhan Birla wilful defaulter

“The present balance outstanding is Rs 67.65 crore plus unapplied interest from the date of turning into a non-performing loan,” the bank said.

from Banking/Finance-Industry-Economic Times http://bit.ly/2Xg8jO2

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PNB puts on block 6 NPAs with outstanding of over Rs 1,000 crore

"We intend to place the (six accounts) for sale to ARCs/NBFCs/Other Banks/FIs etc," said a notice put up by PNB.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Il1qCL

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PNB puts on block 6 NPAs with outstanding of over Rs 1,000 crore

"We intend to place the (six accounts) for sale to ARCs/NBFCs/Other Banks/FIs etc," said a notice put up by PNB.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2Il1qCL

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NBFC crisis to pull down home loan growth first time in three years: Report

Housingfinance growth is set to slow down to 13-15 percent this fiscal, lower than the average of the past three years, due to the lingering liquidit

from Business Line - Money & Banking http://bit.ly/2IGLcCQ

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PNB puts on block 6 NPAs with outstanding of over Rs 1,000 crore

"We intend to place the (six accounts) for sale to ARCs/NBFCs/Other Banks/FIs etc," said a notice put up by PNB.

from Banking/Finance-Industry-Economic Times http://bit.ly/2MRN6Wv

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Pak fails to fulfil 25 of 27 FATF points, downgrading by IMF, World Bank to continue

The Paris-headquartered Financial Action Task Force has asked Pakistan to explain whether it has launched any investigation into the USD seven million allocated to maintain schools, madrasas, clinics and ambulances originally operated by terror groups like Lashkar-e-Taiba, Jaish-e-Mohammad, and LeT fronts Jamat-ud-Dawah and Falah-e-Insaniat Foundation.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News http://bit.ly/2MRMYpZ

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IL&FS case: Independent directors, rating agencies, auditors under SEBI lens

The SEBI probe had begun soon after the crisis came to light at IL&FS group last year, following huge defaults by various entities which together had a debt burden of over Rs 90,000 crore.

from Business Line - Money & Banking http://bit.ly/2XiEV9Q

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Jammu and Kashmir Bank now under RTI, CVC guidelines

On June 11, Chief Secretary B V R Subrahmanyam had said the bank has no choice but to be under RTI as it is a government-owned bank.

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/2WMrejP

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RBI tells banks, grout ATMs to wall, pillar, floor by September-end; here’s the reason

With an aim to enhance security, the Reserve Bank of India (RBI) has asked banks to make sure that their Automated Teller Machines (ATM) are grouted to a wall pillar, or floor by the end of September 2019. However, the ATMs installed in premises with high security including airports need not to do such so […]

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/31wfaSC

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RBI tells banks, grout ATMs to wall, pillar, floor by September-end; here’s the reason

With an aim to enhance security, the Reserve Bank of India (RBI) has asked banks to make sure that their Automated Teller Machines (ATM) are grouted to a wall pillar, or floor by the end of September 2019. However, the ATMs installed in premises with high security including airports need not to do such so […]

from The Financial ExpressBanking & Finance – The Financial Express http://bit.ly/31wfaSC

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