The challenges facing the Insolvency and Bankruptcy code

Inadequate infrastructure and lack of legal precedent have not only made speedy debt resolution process virtually impossible under the Insolvency and Bankruptcy Code but have also hindered pre-IBC debt deals.

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PNB reports over ₹3,800 cr fraud by Bhushan Power & Steel

Punjab National Bank (PNB) on Saturday informed the exchanges about a fraud of ₹3,805.15 crore in NPA (non-performing asset) account of Bhushan Power

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Budget 2019 mixes continuity with winds of change, says DBS Bank

Budget 2019 mixes continuity with winds of change, says DBS Bank

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Budget 2019 mixes continuity with winds of change, says DBS Bank

Budget 2019 mixes continuity with winds of change, says DBS Bank

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PNB reports over Rs 3,800 cr fraud by Bhushan Power & Steel Ltd

PNB said Bhushan Power & Steel Ltd misappropriated bank funds and manipulated its books of accounts to raise funds from consortium lender banks.

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Budget boost to MSME, infra sector to improve bank credit: Syndicate Bank MD

“The boost for MSME, affordable housing and infrastructure sector are expected to generate the growth in the bank credit,” said Mrutyunjay Mahapatra,

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DRT asks Nirav Modi to pay Rs 7,200 cr to PNB

Nirav Modi is currently in a London and wanted by the Enforcement Directorate and the CBI for allegedly defrauding PNB of Rs 13,400 crore.

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Budget 2019 mixes continuity with winds of change, says DBS Bank

Budget 2019 mixes continuity with winds of change, says DBS Bank

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Budget 2019 mixes continuity with winds of change, says DBS Bank

Budget 2019 mixes continuity with winds of change, says DBS Bank

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2NL0xIu

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Balance between maximising profit and minimising time needed in resolution process

An effective resolution of non-performing assets requires the balancing of two aspects of loan recovery value maximisation, i.e., a higher recovery amount and a quicker recovery process.

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Funding will fuel PSU banks, but not fix ’em

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Budget 2019: RBI to oversee housing finance companies

"I am proposing to return the regulation authority over the housing finance sector from NHB to the RBI,” finance minister Nirmala Sitharaman said.

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NPA mess: Urjit Patel slams RBI, government over pre-2014 role

Former Reserve Bank of India (RBI) governor Urjit Patel, who remained tight-lipped during his tenure, has come down heavily on the government and regulators. In a recent presentation at a conference in Stanford University, he said the government, RBI and banks failed to play their role adequately prior to 2014 in the regulation and administration […]

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Non-food credit falls to 11.p8%, lowest in 14 months

The pace of growth in unsecured retail credit has also reduced to 25% from peak levels of ~35% observed during FY19.

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Personalized loans changing the way banks market their loan products

Experience is the new product in the financial industry that is going through hyper-personalization. How many times have you responded to a call offering a ...

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Higher tax benefits on home loans to help boost demand: Ravi Subramanian, MD and CEO, Sriram Housing Finance

Shriram Housing Finance has an AUM of around Rs 2,000 crore. Our AUM has been steady and has not dipped post the IL&FS default, says Ravi Subramanian.

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NPA mess: Urjit Patel slams RBI, government over pre-2014 role

Former Reserve Bank of India (RBI) governor Urjit Patel, who remained tight-lipped during his tenure, has come down heavily on the government and regulators. In a recent presentation at a conference in Stanford University, he said the government, RBI and banks failed to play their role adequately prior to 2014 in the regulation and administration […]

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

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Non-food credit falls to 11.p8%, lowest in 14 months

The pace of growth in unsecured retail credit has also reduced to 25% from peak levels of ~35% observed during FY19.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2FSA9pz

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Banks likely to show stable operating performance, earnings recovery in Q1

Positive outlook on ICICI Bank, SBI. Yes Bank to have the most challenging quarter while there will be focus on asset quality for IndusInd Bank and RBL Bank

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2FUt1ZL

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Higher tax benefits on home loans to help boost demand: Ravi Subramanian, MD and CEO, Sriram Housing Finance

Shriram Housing Finance has an AUM of around Rs 2,000 crore. Our AUM has been steady and has not dipped post the IL&FS default, says Ravi Subramanian.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Xsbe72

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NPA mess: Urjit Patel slams RBI, government over pre-2014 role

Former Reserve Bank of India (RBI) governor Urjit Patel, who remained tight-lipped during his tenure, has come down heavily on the government and regulators. In a recent presentation at a conference in Stanford University, he said the government, RBI and banks failed to play their role adequately prior to 2014 in the regulation and administration […]

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

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Non-food credit falls to 11.p8%, lowest in 14 months

The pace of growth in unsecured retail credit has also reduced to 25% from peak levels of ~35% observed during FY19.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2FSA9pz

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Banks likely to show stable operating performance, earnings recovery in Q1

Positive outlook on ICICI Bank, SBI. Yes Bank to have the most challenging quarter while there will be focus on asset quality for IndusInd Bank and RBL Bank

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2FUt1ZL

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Higher tax benefits on home loans to help boost demand: Ravi Subramanian, MD and CEO, Sriram Housing Finance

Shriram Housing Finance has an AUM of around Rs 2,000 crore. Our AUM has been steady and has not dipped post the IL&FS default, says Ravi Subramanian.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Xsbe72

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NPA mess: Urjit Patel slams RBI, government over pre-2014 role

Former Reserve Bank of India (RBI) governor Urjit Patel, who remained tight-lipped during his tenure, has come down heavily on the government and regulators. In a recent presentation at a conference in Stanford University, he said the government, RBI and banks failed to play their role adequately prior to 2014 in the regulation and administration […]

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

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Non-food credit falls to 11.p8%, lowest in 14 months

The pace of growth in unsecured retail credit has also reduced to 25% from peak levels of ~35% observed during FY19.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2FSA9pz

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Banks likely to show stable operating performance, earnings recovery in Q1

Positive outlook on ICICI Bank, SBI. Yes Bank to have the most challenging quarter while there will be focus on asset quality for IndusInd Bank and RBL Bank

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2FUt1ZL

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Corporate Affairs Ministry wants SFIO to share Bhushan Steel report with CBI

The order states that the RBI had asked BSL to conduct a forensic audit, however, the banks submitted their responses to RBI seeking closure of forensic audit allegedly by suppressing material facts.

from Banking/Finance-Industry-Economic Times https://ift.tt/32946LB

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Banks likely to show stable operating performance, earnings recovery in Q1

Positive outlook on ICICI Bank, SBI. Yes Bank to have the most challenging quarter while there will be focus on asset quality for IndusInd Bank and RBL Bank

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2FUt1ZL

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Banks likely to show stable operating performance, earnings recovery in Q1

Positive outlook on ICICI Bank, SBI. Yes Bank to have the most challenging quarter while there will be focus on asset quality for IndusInd Bank and RBL Bank

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2FUt1ZL

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Banks likely to show stable operating performance, earnings recovery in Q1

Positive outlook on ICICI Bank, SBI. Yes Bank to have the most challenging quarter while there will be focus on asset quality for IndusInd Bank and RBL Bank

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2FUt1ZL

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Banks likely to show stable operating performance, earnings recovery in Q1

Positive outlook on ICICI Bank, SBI. Yes Bank to have the most challenging quarter while there will be focus on asset quality for IndusInd Bank and RBL Bank

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2FUt1ZL

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Banks likely to show stable operating performance, earnings recovery in Q1

Positive outlook on ICICI Bank, SBI. Yes Bank to have the most challenging quarter while there will be focus on asset quality for IndusInd Bank and RBL Bank

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2FUt1ZL

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Banks likely to show stable operating performance, earnings recovery in Q1

Positive outlook on ICICI Bank, SBI. Yes Bank to have the most challenging quarter while there will be focus on asset quality for IndusInd Bank and RBL Bank

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2FUt1ZL

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Banks likely to show stable operating performance, earnings recovery in Q1

Positive outlook on ICICI Bank, SBI. Yes Bank to have the most challenging quarter while there will be focus on asset quality for IndusInd Bank and RBL Bank

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2FUt1ZL

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A mess: Urjit Patel admits RBI was slow to take timely measures

A failure on the part of banks, the government and the regulator till 2014 has got us into the current bad loan mess and the resultant low capital buffers, Urjit Patel, the past Reserve Bank Governor, has said, asking all to resist the temptation of going back to the status quo.

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State-run banks should be freed of constraints: Raghuram Rajan

He is also of the view that there is no guarantee that privatisation will be a panacea.

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

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A mess: Urjit Patel admits RBI was slow to take timely measures

A failure on the part of banks, the government and the regulator till 2014 has got us into the current bad loan mess and the resultant low capital buffers, Urjit Patel, the past Reserve Bank Governor, has said, asking all to resist the temptation of going back to the status quo.

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

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Public sector banks should be freed of constraints: Raghuram Rajan

Rajan has put forth views in a book titled “What the Economy Needs Now” which he has edited along with fellow economists Abhijit Banerjee, Gita Gopinath and Mihir S Sharma.

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A mess: Urjit Patel admits RBI was slow to take timely measures for bad loan mess

Speaking at an event in Stanford University, Patel listed out areas of concern for the country’s banking sector, including high non-performing assets (NPAs) especially at state-run lenders

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Banking sector performance improved due to fall in bad loans in 2018-19: Economic Survey

"The performance of the banking system has improved as non-performing asset (NPA) ratios declined and credit growth accelerated."

from Banking/Finance-Industry-Economic Times https://ift.tt/2RRd8bn

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Banking sector performance improved due to fall in bad loans in 2018-19, says economic survey

The gross NPA ratio decreased from 11.5 per cent to 10.1 per cent between March 2018 and December 2018

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Spare Indu assets from bankruptcy process: ED

Agency had seized the assets last year as part of its probe into a disproportionate assets case against AP CM Jagan Mohan Reddy.

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Wider customer base, vibrant business help retail NBFCs survive scare : Muthoot Fincorp Chairman

The retail NBFCs have not faced any issues with respect to access to bank credit except in the last months of the last quarter of 2018

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MSME loans: Banks stare at slippages of Rs 15,000 crore

These loans would have turned non-performing assets (NPAs) a long time ago had the Reserve Bank of India (RBI) not given banks a breather.

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Maharashtra State Cooperative Bank to directly lend to PACs to help stressed DCCBs

MSC Bank is an apex body for 31 DCCBs which have about 3,746 branches, with a third tier of around 2.21 lakh PACS which directly lend to farmers and the rural population.

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

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Bad exposure: Banks staring at slippages of Rs 15,000 crore MSME loans

These loans would have turned non-performing assets (NPAs) a long time ago had the Reserve Bank of India (RBI) not given banks a breather.

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

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Maharashtra State Cooperative Bank to directly lend to PACs to help stressed DCCBs

MSC Bank is an apex body for 31 DCCBs which have about 3,746 branches, with a third tier of around 2.21 lakh PACS which directly lend to farmers and the rural population.

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

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Business correspondents seek subsidy for PoS terminals in villages

At present, only banks get federal money support for deploying point of sale (POS) devices in rural areas.

from Banking/Finance-Industry-Economic Times https://ift.tt/2XN7OLA

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Bad exposure: Banks staring at slippages of Rs 15,000 crore MSME loans

These loans would have turned non-performing assets (NPAs) a long time ago had the Reserve Bank of India (RBI) not given banks a breather.

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

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Maharashtra State Cooperative Bank to directly lend to PACs to help stressed DCCBs

MSC Bank is an apex body for 31 DCCBs which have about 3,746 branches, with a third tier of around 2.21 lakh PACS which directly lend to farmers and the rural population.

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

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Bad exposure: Banks staring at slippages of Rs 15,000 crore MSME loans

These loans would have turned non-performing assets (NPAs) a long time ago had the Reserve Bank of India (RBI) not given banks a breather.

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

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Maharashtra State Cooperative Bank to directly lend to PACs to help stressed DCCBs

MSC Bank is an apex body for 31 DCCBs which have about 3,746 branches, with a third tier of around 2.21 lakh PACS which directly lend to farmers and the rural population.

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

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ED summons two ratings firms in IL&FS probe

CARE and Icra were among four firms that rated the debt of IL&FS and its group companies.

from Banking/Finance-Industry-Economic Times https://ift.tt/30dt3n5

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Bad exposure: Banks staring at slippages of Rs 15,000 crore MSME loans

These loans would have turned non-performing assets (NPAs) a long time ago had the Reserve Bank of India (RBI) not given banks a breather.

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

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Maharashtra State Cooperative Bank to directly lend to PACs to help stressed DCCBs

MSC Bank is an apex body for 31 DCCBs which have about 3,746 branches, with a third tier of around 2.21 lakh PACS which directly lend to farmers and the rural population.

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

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Bad exposure: Banks staring at slippages of Rs 15,000 crore MSME loans

These loans would have turned non-performing assets (NPAs) a long time ago had the Reserve Bank of India (RBI) not given banks a breather.

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

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Maharashtra State Cooperative Bank to directly lend to PACs to help stressed DCCBs

MSC Bank is an apex body for 31 DCCBs which have about 3,746 branches, with a third tier of around 2.21 lakh PACS which directly lend to farmers and the rural population.

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

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RBI to regulate housing finance firms, review assets

India will soon give its central bank power to regulate housing finance companies (HFCs), which will almost certainly lead to the lenders facing stringent asset quality reviews, two sources with direct knowledge of the matter said.

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Amid liquidity crunch, sluggish auto sales, ICICI Bank ties up with IndoStar to finance CVs

ICICI Bank has tied up with IndoStar Capital Finance Ltd (IndoStar) to finance purchase of used and new commercial vehicles (CV) by small and medium f

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ED attaches ₹4.58 cr assets in Axis Bank fraud case

Acting against a fraud perpetrated by an Axis Bank employee in collusion with an employee of a private educational institute, the Enforcement Director

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Centre may get only a small pie of RBI surplus this fiscal

Budget may retain fiscal deficit target even without the comfort of transfer

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Part stake sale in Gruh Finance helps HDFC rake in ₹1,895-cr profit in Q1

Board okays ₹45,000-crore NCD issuance;

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Study loans under priority sector fall 9.3% in last one year

Banks are shying away from education loans as lending under this key segment has fallen for the second year in a row. According to the Reserve Bank o

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HC seeks RBI response regarding PayPal's credibility

The court was hearing a plea filed by Abhi Mishra through his counsel Payal Bahl.

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IRFC raises Rs 2,120 crore through bond issue

The issue received a total 85 bids for an aggregate sum of Rs 4,940 crore

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RBI to regulate housing finance firms, review assets

In late 2015, the RBI started a similar review of bank assets amid allegations that lenders were hiding the extent of the bad debts on their books.

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

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Harideesh Kumar is now Director of Institute of Banking Personnel Selection

B Harideesh Kumar has been appointed as director of Institute of Banking Personnel Selection (IBPS) for a period of three years.He took charge recentl

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Indiabulls Finance to buyback ₹2,705 cr of NCDs, masala bonds

Stocks surge over 7 per cent

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HDFC Bank, Manipal Global Academy launch future bankers programme

The bank plans to hire 5,000 candidates post the completion of the course

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RBI to hold reverse repo auction on Wednesday

The move is seen as a way to drain cash from the economy

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PNB, Allahabad Bank, UCO Bank, Corporation Bank fined for violation of KYC norms

The action, however, is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the banks with their customers, the RBI added.

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HFCs with large builder loans finding it tough to raise money, says SBI senior official

If you look at NBFCs, all of them cannot be put into one category. There are some which are doing pretty well and they are not facing any challenge in generating liquidity. There are others, where there is a perceived threat in terms of liquidity.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2J5Ug5q

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NBFCs seek access to Mudra NHB-like refinance window

The immediate trigger behind the crisis was a series of defaults by entities from the Infrastructure Leasing & Financial Services (IL&FS) group in mid-2018.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2XloJR8

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Singapore’s GIC faces uphill task to generate returns with fresh $33 bn fund infusion

It’s the worlds eighth-largest sovereign wealth fund, managing around $390 billion

from Business Line - Money & Banking https://ift.tt/2XhOth1

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PNB, Allahabad Bank, UCO Bank, Corporation Bank fined for violation of KYC norms

The action, however, is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the banks with their customers, the RBI added.

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

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HFCs with large builder loans finding it tough to raise money, says SBI senior official

If you look at NBFCs, all of them cannot be put into one category. There are some which are doing pretty well and they are not facing any challenge in generating liquidity. There are others, where there is a perceived threat in terms of liquidity.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2J5Ug5q

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NBFCs seek access to Mudra NHB-like refinance window

The immediate trigger behind the crisis was a series of defaults by entities from the Infrastructure Leasing & Financial Services (IL&FS) group in mid-2018.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2XloJR8

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Will builder loans become India’s subprime sinkhole?

As the demolition initiated by the IL&FS credit squeeze gathers pace swallowing victims along the way, fault lines in the financial system are becoming manifest.

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

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Singals set up companies to divert funds: SFIO chargesheet

The agency also alleged that the statutory auditors “connived” with the ex-promoters.

from Banking/Finance-Industry-Economic Times https://ift.tt/2XoR3qD

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Private lenders charge higher interest, want realtors & businesses to fulfil tougher conditions

Lenders are demanding post-dated cheques from bank accounts in which the borrower’s wife or daughter is a joint account holder.

from Banking/Finance-Industry-Economic Times https://ift.tt/2NDF2JA

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Karnataka Bank launches web tool for NPA recovery process

Vasool So-Ft was launched by the bank’s MD & CEO Mahabaleshwara MS

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CBI launches special operation against banking frauds; searches underway

The amount involved in these scams are around ₹ 640 crore

from Business Line - Money & Banking https://ift.tt/2XFtqt3

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Bank loan fraud: ED attaches ₹ 110-cr assets of Simbhaoli Sugars

It is alleged that the company has diverted the loan funds intended for farmers

from Business Line - Money & Banking https://ift.tt/2Ji4z5z

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Bond traders seen giving PM Modi a pass on wider deficit

It turns out that bond traders in India can be forgiving of budget misses when the nation’s economic growth is threatened.Prime Minister Narendra Mod

from Business Line - Money & Banking https://ift.tt/2J3JHjt

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Banks follow RBI cut, loan rates inch downward

A host of banks have reduced lending rates in response to the cut by the RBI in its policy in June. While ICICI Bank has cut its marginal cost of lending rate (MCLR) by 10 basis points (100bps = 1percentage point), SBI has brought down home loan rates by introducing a repo-linked housing loan with effect from July 1. ICICI Bank’s MCLR, to which its home loan is tied, now stands at 8.65%.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2FPE1Yu

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Australia cuts interest rates further

Australia’s central bank on Tuesday lowered the cost of borrowing for the second-straight month, bringing interest rates to a new historic low.The Re

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Airtel Payments Bank partners with Bharti AXA Life to offer pure term insurance

Airtel Payments Bank has partnered with Bharti AXA Life Insurance to offer Bharti AXA Life POS Saral Jeevan Bima Yojana --a pure life term plan--throu

from Business Line - Money & Banking https://ift.tt/2Xjli2g

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Declining disbursements: Retail loan growth slows to 16.9% in May

Education loans also saw a 2.5% y-o-y fall in disbursements, whereas, the outstanding on credit cards grew the most —26.1% y-o-y — among all categories of loans to individuals.

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Cheap loans: ICICI Bank, PNB, Central Bank cut lending rates

ICICI Bank, the country’s second largest private bank by assets, cut its one-year MCLR — the benchmark for most customer loans — by 10 bps to 8.65%.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Nl86Fd

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Queues get longer as ATM numbers shrink

What has also contributed to the increase in average usage of ATMs is the fact that banks are issuing more debit cards.

from Banking/Finance-Industry-Economic Times https://ift.tt/2No1y91

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PwC exits put auditors, banks, rating cos in a fix

With June quarter results coming up, many audit firms that have a difference of opinion with managements.

from Banking/Finance-Industry-Economic Times https://ift.tt/321h8dW

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One BKC developer Radius defaults on interest payments

The Radius Group project that Yes Bank had funded is located in Chembur, a sprawling northeast Mumbai suburb.

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

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Citibank moves SAT, questions Sebi and exchanges’ power to annul trades

The matter has also brought forth some grey areas in the current regulations on trade annulment.

from Banking/Finance-Industry-Economic Times https://ift.tt/321h5Pi

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Declining disbursements: Retail loan growth slows to 16.9% in May

Education loans also saw a 2.5% y-o-y fall in disbursements, whereas, the outstanding on credit cards grew the most —26.1% y-o-y — among all categories of loans to individuals.

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

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Cheap loans: ICICI Bank, PNB, Central Bank cut lending rates

ICICI Bank, the country’s second largest private bank by assets, cut its one-year MCLR — the benchmark for most customer loans — by 10 bps to 8.65%.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Nl86Fd

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DHFL crisis: Bankers agree to sign inter-creditor pact

At Monday’s meeting, which was called by Union Bank of India, lenders decided that June 29 would be the  ‘reference date’ for DHFL.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2XHwCo3

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NBFC crisis: RBI likely to get more regulatory powers

Earlier, the central bank has taken steps to enhance its supervision of NBFCs, such as increasing the periodicity of monitoring their books to 12 months from 18 months.

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Bank loan growth hit by consumption slowdown

The growth in banks’ retail loan portfolios has been on a downward trend since November 2018, data from the Reserve Bank of India (RBI) show.

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Declining disbursements: Retail loan growth slows to 16.9% in May

Education loans also saw a 2.5% y-o-y fall in disbursements, whereas, the outstanding on credit cards grew the most —26.1% y-o-y — among all categories of loans to individuals.

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Cheap loans: ICICI Bank, PNB, Central Bank cut lending rates

ICICI Bank, the country’s second largest private bank by assets, cut its one-year MCLR — the benchmark for most customer loans — by 10 bps to 8.65%.

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DHFL crisis: Bankers agree to sign inter-creditor pact

At Monday’s meeting, which was called by Union Bank of India, lenders decided that June 29 would be the  ‘reference date’ for DHFL.

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NBFC crisis: RBI likely to get more regulatory powers

Earlier, the central bank has taken steps to enhance its supervision of NBFCs, such as increasing the periodicity of monitoring their books to 12 months from 18 months.

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

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Bank loan growth hit by consumption slowdown

The growth in banks’ retail loan portfolios has been on a downward trend since November 2018, data from the Reserve Bank of India (RBI) show.

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DHFL crisis: Bankers to sign inter-creditor agreement

Bankers to DHFL met on Monday and agreed in principle to sign an ICA which is mandatory for any revival plan according to the new framework for restructuring of stressed loans which came into effect from June 7.

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DHFL crisis: Bankers to sign inter-creditor pact by July 5

A consortium of 30 lenders led by Union Bank of India on Monday decided to enter into an inter-creditor agreement by July 5 to thrash out a resolut

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KVG Bank enrolls 1 lakh accounts under APY; bags awards from PFRDA

The Dharwad-headquartered Karnataka Vikas Grameena Bank (KVGB), a regional rural bank sponsored by Syndicate Bank, has enrolled a cumulative of 1,00,4

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Banks, insurers hold over ₹32,000 crore as unclaimed deposits

Over ₹32,000 crore is lying as unclaimed deposits with banks and insurance companies, the government informed the Lok Sabha on Monday.Any account not

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Punjab & Sind Bank centralises MSME, retail loan approvals

Punjab & Sind Bank has set up the Centralised MSME & Retail Group (Cen-MARG) for credit facilities at its head office in the national capital

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LIC’s first year premium up by 5.7% in 2018-19

State-owned Life Insurance Corporation (LIC) of India registered a 6.08 per cent increase in its total premium income to ₹3,37,185.40 crore in 2018-19

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ICRA board places MD Takkar on leave till enquiry

Our Bureau Rating agency ICRA’s board of directors has placed its Managing Director and Group CEO Naresh Takkar on leave as it looks into an anonymous

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Union Bank cuts MCLR rate

The Union Bank of India has pared its marginal cost of funds based lending rate (MCLR) by 5 basis points across all tenors with effect from July 1. Th

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Best branding for a bank is word of mouth: Suryoday CEO

Suryoday has completed a decade of operations, starting as a Micro Finance Institution (MFI) and getting converted into a Small Finance Bank (SFB) in

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SBI inks MoU with NIIF to boost capital availability for infrastructure projects

State Bank of India (SBI) and National Investment and Infrastructure Fund (NIIF) on Monday inked a memorandum of understanding (MoU) to boost the avai

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SBI approves raising AT 1 capital up to ₹7,000 crore

State Bank of India on Monday said its Central Board accorded approval to raise AT (Additional Tier) 1 Capital up to an amount of ₹7,000 crore during

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Karnam Sekar is new head of IOB

Karnam Sekar has taken charge as Managing Director and Chief Executive Officer of Chennai-based Indian Overseas Bank (IOB) with effect from July 1. He

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Unclaimed deposits in banks rise by 27% in 2018

Unclaimed deposits in the banking system have witnessed a jump of 26.8 per cent to Rs 14,578 crore in 2018, Parliament was informed on Monday. The unclaimed deposits rose to Rs 11,494 crore in 2017 from Rs 8,928 crore in 2016, finance minister Nirmala Sitharaman said in a written reply to the Lok Sabha.

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RBI likely to get more powers to regulate NBFCs

The government is considering strengthening the Reserve Bank’s regulatory and supervisory powers over the non-banking finance companies (NBFCs), Fina

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2,313 frauds reported in Mudra loan accounts

Out of 103 delinquent employees identified, action has been taken on 68 as per extant guidelines.

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NS Vishwanathan re-appointed RBI dy guv for an yr

NS Vishwanathan was Monday re-appointed as deputy governor of the Reserve Bank of India (RBI) for one more year, an official order said. The Appointments Committee of the Cabinet has approved re-appointment of Vishwanathan as the deputy governor for a period of one more year with effect from July 4 this year, the order issued by the personnel ministry said.

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CRISIL expects HFCs to revive in FY20-21

Liquidity crisis led to the fall of AUM growth in H2-FY2019

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ICICI Bank lowers lending rates by 10 bps

The move comes weeks after it cut its deposit rates and amid calls for banks to quickly pass on the benefits of rate cuts by the RBI, which stands at a full 75 bps since February.

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ICICI Bank lowers lending rates by 10 bps

The revised rate on mortgage and auto loans now stands at 8.65 percent

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Not charging extra for digital transactions: Paytm

"Paytm customers will continue using all the services available on the platform without any fee," Paytm said.

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`No bank has power to employ bouncers to recover loans'

He cites RBI guidelines on procedure for appointment of recovery agents by the banks

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Shell out fee on paytm transactions from today

With an eye on profitability, e-wallet firm to pass on MDR fee to customers that banks & card cos levy on payments.

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Banks wary of rising hedging cost

Over the last few weeks several large Indian and MNC banks met senior RBI officials to put across their point.

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IMG to discuss merger of state-run insurance companies

The initial plan, announced in the FY19 budget, had been to merge Oriental Insurance Company, National Insurance Company and United India Insurance Company – all unlisted entities – into one entity.

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IL&FS board sets up panel to oversee asset sale

The IL&FS board has constituted a sub-committee to oversee the divestment of its stressed assets to bring down its overall debt. The move comes i

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Recoveries, CASA to help boost Corporation Bank’s growth

Corporation Bank has been focussing on recovery, retail business, CASA, and asset quality to boost its growth, according to PV Bharathi, Managing Dir

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30 lenders of troubled DHFL led by Union Bank of India to meet on Monday

The debt recast plan will be arrived at as per the RBI's revised circular on resolving asset quality stress, they said. The circular gives lenders a 30-day period since default to arrive at a debt recast plan.

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RTGS, NEFT fund transfers to get cheaper from Monday

The real-time gross settlement (RTGS) system is meant for large-value instantaneous fund transfers, while the national electronic funds transfer (NEFT) system is used for fund transfers of up to Rs 2 lakh.

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Consolidation of PSU general insurers may require capital infusion of Rs 13,000 cr

The government is exploring various consolidation options, including merger of state-owned general insurance companies with New India Assurance, with a view to create synergy and unlock value.

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Lenders of troubled DHFL to meet on Monday

Lenders of troubled NBFC DHFL are scheduled to meet on Monday, seeking a solution for the Rs 90,000 crore debt that is owed to them. The consortium o

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Fund transfer via RTGS, NEFT set to get cheaper from Monday

After announcing its decision to waive all charges on fund transfer through RTGS and NEFT systems, RBI had also asked banks to pass on the benefits to customers from the same day.

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Fund transfer via RTGS, NEFT set to get cheaper from Monday

Fund transfer through RTGS and NEFT systems is set to become cheaper from Monday after the Reserve Bank of India decided it will not impose any charg

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IL&FS board sets up sub-committee to oversee disinvestment process

The decision to form a sub-panel was taken in its board meeting held on June 28, Infrastructure Leasing & Financial Services Ltd (IL&FS) said in a statement.

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Trusts, societies should be brought under IBC, says Indian Bank MD & CEO

IBBI Chairperson M S Sahoo said IBBI has appointed 30 new judicial members to strengthen the judiciary, besides speedy disposal of pending cases.

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Syndicate Bank to raise up to Rs 500 crore this fiscal

State-owned Syndicate Bank said Saturday it will raise Rs 500 crore during this fiscal by various means, including QIP or preferential allotment.

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