India's payments bank space: A case of near yet too far

Most big players in the payments bank space, designed to widen financial inclusion, have found the going unviable. But a handful of them are out to prove that a revenue model exists.

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More PSBs join SBI to reduce lending rates

Nudged by the regulator and the government, more state-run lenders on Friday joined their larger peer SBI to slash lending rates with Bank of India, Syndicate Bank, Andhra Bank, India Overseas Bank and Canara Bank, among others, announcing 10-30-basis-point (100bps = 1 percentage point) reductions in their loan pricing.

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PSBs to adopt uniform working hours pan India

As part of govt's reform agenda, Public sector banks (PSBs) across the country will soon have standard operating hours. A banker’s panel has recommended that every region adopt one of three six-hour time slots — 9am to 3pm, 10am to 4pm or 11am to 5pm. However, in one location, commercial branches and those in residential areas could have different timings.

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To expand ATM network, Govt must offer incentives, says industry body

With just 5 ATMs per one lakh population in rural areas, beneficiaries of DBT schemes will need more touch-points to withdraw cash

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BoI, Syndicate Bank, Allahabad Bank cut MCLRs by up to 25 basis points

The one-year MCLR at Bank of India (BoI), to which over 80% of the bank's loan book is linked, will come down by 25 bps to 8.35% per annum with effect from August 10.

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NBFCs paying more to take the longer route

NBFCs are now moulding their business models for better risk management. Long-term bonds are safer because of the better asset-liability management options they offer.

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Sovereign bond sale needs special safeguard: Report

A wide array of experts, including former RBI Governors have flagged such a move as a risky bet and adviced against going ahead

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Pension scheme for small and marginal farmers launched

The scheme to be managed by LIC which is voluntary and contributory, would provide a monthly pension of ₹ 3,000

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Banks near zero hour on $124 trillion of flows

Exorbitant currency spreads and hefty bank charges are the norm for payments that cross national border.

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Bank of Maharashtra and IDBI Bank cut MCLRs

Bank of Maharashtra and IDBI Bank have cut their marginal cost of funds based lending rate (MCLR) across select tenors by 10 basis points (bps) and 5

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Yes Bank opens QIP issue, fixes floor price at Rs 87.90 per share

Yes Bank, on Thursday, announced the opening of the qualified institutional placement (QIP) issue at a floor price of Rs 87.9 per equity share.The ca

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RBI is likely to cut rates in October and early next year, say analysts

This move could make the RBI the most aggressive major central banks in easing policy.

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67% of Indians ready to take loans: Home Credit survey

Two out of three Indians are open to taking loans, a new survey by consumer finance provider Home Credit India has revealed. Interestingly, fulfilling

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UCO Bank narrows Q1 net loss to Rs 601 crore

The bank, which is under the prompt corrective action (PCA) framework of the Reserve Bank of India, had reported a net loss of Rs 1,552.03 crore for the fourth quarter of the last fiscal.

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Loans to become cheaper: IDBI, OBC cut MCLRs by up to 15 basis points

Despite a cumulative 75-bps cut in the repo rate between February and June this year, banks have reduced their weighted average lending rates (WALR) on fresh rupee loans by a mere 29 bps during the same period, RBI governor Shaktikanta Das said on Wednesday.

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RBI task force submits report on offshore rupee markets

The key recommendations of the task force include extending onshore market hours to improve access of overseas users and permitting Indian banks to freely offer prices to global clients around the clock.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2KNB24z

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UCO Bank narrows Q1 net loss to Rs 601 crore

The bank, which is under the prompt corrective action (PCA) framework of the Reserve Bank of India, had reported a net loss of Rs 1,552.03 crore for the fourth quarter of the last fiscal.

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

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Loans to become cheaper: IDBI, OBC cut MCLRs by up to 15 basis points

Despite a cumulative 75-bps cut in the repo rate between February and June this year, banks have reduced their weighted average lending rates (WALR) on fresh rupee loans by a mere 29 bps during the same period, RBI governor Shaktikanta Das said on Wednesday.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2M7ZUH9

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RBI task force submits report on offshore rupee markets

The key recommendations of the task force include extending onshore market hours to improve access of overseas users and permitting Indian banks to freely offer prices to global clients around the clock.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2KNB24z

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Indiabulls founder to cede control after Lakshmi Vilas Bank merger

The Reserve Bank of India is yet to approve the merger plan between Indiabulls and Lakshmi Vilas Bank.

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

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UCO Bank narrows Q1 net loss to Rs 601 crore

The bank, which is under the prompt corrective action (PCA) framework of the Reserve Bank of India, had reported a net loss of Rs 1,552.03 crore for the fourth quarter of the last fiscal.

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

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Loans to become cheaper: IDBI, OBC cut MCLRs by up to 15 basis points

Despite a cumulative 75-bps cut in the repo rate between February and June this year, banks have reduced their weighted average lending rates (WALR) on fresh rupee loans by a mere 29 bps during the same period, RBI governor Shaktikanta Das said on Wednesday.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2M7ZUH9

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RBI task force submits report on offshore rupee markets

The key recommendations of the task force include extending onshore market hours to improve access of overseas users and permitting Indian banks to freely offer prices to global clients around the clock.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2KNB24z

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UCO Bank narrows Q1 net loss to Rs 601 crore

The bank, which is under the prompt corrective action (PCA) framework of the Reserve Bank of India, had reported a net loss of Rs 1,552.03 crore for the fourth quarter of the last fiscal.

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

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Loans to become cheaper: IDBI, OBC cut MCLRs by up to 15 basis points

Despite a cumulative 75-bps cut in the repo rate between February and June this year, banks have reduced their weighted average lending rates (WALR) on fresh rupee loans by a mere 29 bps during the same period, RBI governor Shaktikanta Das said on Wednesday.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2M7ZUH9

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RBI task force submits report on offshore rupee markets

The key recommendations of the task force include extending onshore market hours to improve access of overseas users and permitting Indian banks to freely offer prices to global clients around the clock.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2KNB24z

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UCO Bank narrows Q1 net loss to Rs 601 crore

The bank, which is under the prompt corrective action (PCA) framework of the Reserve Bank of India, had reported a net loss of Rs 1,552.03 crore for the fourth quarter of the last fiscal.

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

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Loans to become cheaper: IDBI, OBC cut MCLRs by up to 15 basis points

Despite a cumulative 75-bps cut in the repo rate between February and June this year, banks have reduced their weighted average lending rates (WALR) on fresh rupee loans by a mere 29 bps during the same period, RBI governor Shaktikanta Das said on Wednesday.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2M7ZUH9

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RBI task force submits report on offshore rupee markets

The key recommendations of the task force include extending onshore market hours to improve access of overseas users and permitting Indian banks to freely offer prices to global clients around the clock.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2KNB24z

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Jana Small Finance Bank receives Scheduled Bank status from RBI

The bank's aim has always been to provide financial inclusion to the underserved sections of the society, including small business units, small and marginal farmers, micro and small industries, its MD & CEO, Ajay Kanwal said.

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Working in close cooperation: Lakshmi Vilas Bank on Indiabulls Housing merger

Early this year, the bank had announced its merger with Indiabulls Housing Finance Ltd in a share-swap deal with an intent to create a combined entity with larger capital base.

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

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Ministry names 4 domestic auditors to restate IL&FS books

The move comes even as the ministry awaits the NCLT view on banning Deloitte, Haskins & Sells and BSR Associates, which were the statutory auditors of these companies before going belly up.

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Jana Small Finance Bank receives Scheduled Bank status from RBI

The bank's aim has always been to provide financial inclusion to the underserved sections of the society, including small business units, small and marginal farmers, micro and small industries, its MD & CEO, Ajay Kanwal said.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2YwbLp3

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Reliance Capital joint auditors say no Companies Act breach; reject PWC allegations

The filing further said the board also took note of the views of legal experts who independently carried out an in-depth examination of the matter and the issues raised by PWC.

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Jana Small Finance Bank receives Scheduled Bank status from RBI

The bank's aim has always been to provide financial inclusion to the underserved sections of the society, including small business units, small and marginal farmers, micro and small industries, its MD & CEO, Ajay Kanwal said.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2YwbLp3

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Tata Capital plans to raise Rs 4,126 cr through domestic borrowings

Eyes $150-m overseas borrowing via ECB in Q3

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Jana Small Finance Bank receives Scheduled Bank status from RBI

The bank's aim has always been to provide financial inclusion to the underserved sections of the society, including small business units, small and marginal farmers, micro and small industries, its MD & CEO, Ajay Kanwal said.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2YwbLp3

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DHFL says it may not be able to fulfill immediate debt payments

This comes days after the company said its creditors would not have to take any haircut on principal payments under its resolution plan.

from Banking/Finance-Industry-Economic Times https://ift.tt/2H8qpIz

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Jana Small Finance Bank receives Scheduled Bank status from RBI

The bank's aim has always been to provide financial inclusion to the underserved sections of the society, including small business units, small and marginal farmers, micro and small industries, its MD & CEO, Ajay Kanwal said.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2YwbLp3

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UCO Bank narrows net loss to Rs 601 cr in Q1 as bad loan provisioning falls

State-owned UCO Bank on Thursday reported narrowing of its net loss to Rs 601.45 crore for the first quarter ended June 30, as bad loan provisioning d

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Jana Small Finance Bank receives Scheduled Bank status from RBI

The bank's aim has always been to provide financial inclusion to the underserved sections of the society, including small business units, small and marginal farmers, micro and small industries, its MD & CEO, Ajay Kanwal said.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2YwbLp3

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Jana Small Finance Bank receives Scheduled Bank status from RBI

The bank's aim has always been to provide financial inclusion to the underserved sections of the society, including small business units, small and marginal farmers, micro and small industries, its MD & CEO, Ajay Kanwal said.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2YwbLp3

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Tenure of SBI MD Dinesh Kumar Khara extended by two years

Khara was appointed managing director of State Bank of India (SBI) on August 10, 2016 for a period of three years.

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Jana Small Finance Bank gets Scheduled Bank status

Jana Small Finance Bank Ltd, which commenced banking operations in March 2018, has got the status of a Scheduled Bank.The Government notified this on

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Jana Small Finance Bank receives Scheduled Bank status from RBI

The Bengaluru-headquartered bank, established as a financial services company in 2009, said it presently operates 260 branches.

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City Union Bank Q1 net rises 15% to ₹186-cr

Private sector lender City Union Bank (CUB) has reported a 15 per cent increase in its net profit at ₹186 crore for the quarter ended June 30, 2019 a

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RBI moves unlikely to ease pain for shadow banks

The Reserve Bank of India (RBI) outlined two measures on Wednesday aimed at easing liquidity pressures on crisis-hit shadow banks, but industry insiders say the moves, while positive, are unlikely to lead to any substantive improvements in the troubled sector.

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RBI unveils measures to boost confidence in NBFCs

In its monetary policy, the RBI has gone all out to revive confidence in well-functioning entities in the non-banking finance company (NBFC) sector. First, it has brought the single-borrower exposure limit for bank lending to NBFCs to 20% of the lender’s capital as compared to 15% earlier. Second, it will recognise bank lending to registered NBFCs for selected purposes as priority sector lending.

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With RBI rate cut, personal loans to become cheaper

However, the reduction will happen selectively based on your risk profile

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Credit card usage rides on digital push, grows 27%

Users spent around Rs 6 lakh crore using credit cards in 2018-19, up 30% from a year ago.

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RBI cuts repo rate by 35 bps to 9-year low

Reduces growth forecast by 10 bps for the fiscal year to 6.9% on slumping demand

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RBI should now cajole banks towards external benchmarking

In case of India, though the rate cut was expected, the magnitude threw a curveball. This is the first time that a 35 bps cut has been executed by RBI

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SBI lowers lending rates by 15 bps from Aug 10

Within hours of a steeper 35 basis points reduction in the repo rates by the Reserve Bank to 5.4 per cent in its fourth consecutive steps, the larges

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SBI cuts benchmark lending rates by 15 basis points

State Bank of India (SBI), the country's largest lender by assets, on Wednesday cut its benchmark lending rates by 15 basis points (bps) across all tenors, shortly after the central bank slashed interest rates by a larger-than-expected 35 bps to boost the economy.

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

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NEFT to be made 24x7 from December 2019: RBI

This is in line with the central bank’s aim to promote digital transactions

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NEFT transactions to become 24x7, other important steps taken by RBI

The Reserve Bank of India (RBI) on Wednesday announced that National Electronic Funds Transfer (NEFT) payment system "will be made available on a 24x7 basis from December 2019." Currently, the NEFT system, operated by the RBI as a retail payment system, is available from 8am to 7pm on all working days of the week (except 2nd and 4th Saturdays of the month).

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

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After RBI repo rate cut, will banks reduce lending rates?

While the RBI has nudged banks to hasten transmission, structural issues may limit steep lending rate cuts

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RBI cuts repo rate by 35 bps

Cuts GDP forecast to 6.9% for FY 20

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

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Rupee sees high volatility post RBI policy decision; inches to 71 level against US dollar

The rupee witnessed high volatility and slipped towards 71 level after the Reserve Bank of India on Wednesday cut key interest rate by 35 basis points (bps) to boost the slowing economy.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2T9WTGY

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RBI Governor says 35 bps rate cut balanced, based on data

“While 0.25 percentage points reduction would have been inadequate, 0.50 percentage points would have been excessive”

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RBI breaks-away from convention; cuts key lending rate by 35 basis points

The Reserve Bank of India on Wednesday broke-away from convention to reduce key lending rates by 35 basis points (bps) to 5.40 per cent. Historically, the central bank has been either reducing or increasing rates in the multiples of 25 basis points.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2yG3rDM

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RBI brings in Central Fraud Registry, a likely major gamechanger for banking

The participants in RBI's payment system will be given access to this registry for fraud monitoring that is likely to be almost real-time.

from Banking/Finance-Industry-Economic Times https://ift.tt/2MIYB0T

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Shaktikanta Das expects banks to cut home, auto loans faster

The RBI has so far cut policy rates by 110 basis points and changed its stance to accommodative.

from Banking/Finance-Industry-Economic Times https://ift.tt/2YvqyR0

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RBI policy: Lending norms, exposure limits eased for NBFCs

The Reserve Bank of India today relaxed bank lending norms to non- banking finance companies and eased bank’s exposure limits to help the sector under stress.

from Banking/Finance-Industry-Economic Times https://ift.tt/2YsP457

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Expert views on RBI's 35 basis points rate cut

The Reserve Bank of India (RBI) cut interest rates by an unconventional 35 basis points on Wednesday, slightly above expectations, and its fourth cut in 2019 to boost an economy growing at its slowest pace in nearly five years.

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

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New Zealand's central bank stuns markets with 50-bp rate cut

New Zealand's central bank stunned markets on Wednesday by cutting the official cash rate (OCR) by a bigger-than-expected 50 basis points to a record

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RBI brings in major change in Bharat Bill Payment System regime

The Bharat Bill Payment System is an inter-operable platform for repetitive bill payments.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Yx9I48

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Now, transact round the clock: NEFT timings to change from December, RBI announces

As mentioned in the Payment System Vision 2021 document, the Reserve Bank will make available the NEFT system on a 24x7 basis from December 2019.

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

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EMIs set to fall as RBI goes for fourth straight rate cut

The Reserve Bank of India (RBI) on Wednesday reduced repo rate by 35 basis points (bps) to 5.40 per cent. This is the fourth straight rate cut from the RBI and it results in an overall decline of 110 bps or 1.1 percentage point in the key lending rate.

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

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DBS Bank India to focus on SME and consumer business to expand

DBS Bank India, which returned to profitability in 2018-19, is now ready for growth, according to its CEO Surojit Shome. He said the bank will focus

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How the RBI’s possible rate cut today could add pressure on PSU banks’ deposit growth

Deposit rates of public sector banks are already significantly lower than that of private banks; they may not be able to pass on a rate cut that easily

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Mastercard rolls out Identity Check Express for a ‘safe and smooth’ digital payment experience

You don’t need to be anxious any more that your ‘one-time password’ is taking too long to land on your smartphone to complete a digital payment.This

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I never expected it to be so good: Aditya Puri on his journey in HDFC Bank

'If I tell you that all along we were very confident and we didn’t have moods of depression…I would be lying…'

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

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Chronicling the journey of Indian private banks

The RBI’s bet on private banks, an audacious gamble a quarter of a century ago in a country fed on the diet of socialism, has had its share of hits and misses.

from Banking/Finance-Industry-Economic Times https://ift.tt/31sOWjb

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Foreign reinsurers may be allowed to open satellite offices in GIFT city

Presently, foreign reinsurers which already have branches in India have to apply for a fresh licence in GIFT City, enjoying taxation benefits and relaxed net owned fund norms.

from Banking/Finance-Industry-Economic Times https://ift.tt/2yL1y8Z

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SBI again seeks EOIs for Videocon’s offshore assets

In July 2018, SBICaps had sought bids for the appointment of consultants who would validate the costs associated with the running of VOVL’s upstream oil and gas assets in the two geographies.

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

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Payments banks urge RBI for the right to lend

Rishi Gupta, MD and chief executive officer of Fino Payments Bank, said the payments environment has changed significantly over the years since the licences were issued

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

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Indian Bank Q1 net profit jumps 75 pct to Rs 365 crore

With lesser slippage, the bank's provisioning was lower, she said, adding that this quarter the bank posted a healthy growth in all segments.

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

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SBI again seeks EOIs for Videocon’s offshore assets

In July 2018, SBICaps had sought bids for the appointment of consultants who would validate the costs associated with the running of VOVL’s upstream oil and gas assets in the two geographies.

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

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Payments banks urge RBI for the right to lend

Rishi Gupta, MD and chief executive officer of Fino Payments Bank, said the payments environment has changed significantly over the years since the licences were issued

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

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Indian Bank Q1 net profit jumps 75 pct to Rs 365 crore

With lesser slippage, the bank's provisioning was lower, she said, adding that this quarter the bank posted a healthy growth in all segments.

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

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SBI again seeks EOIs for Videocon’s offshore assets

In July 2018, SBICaps had sought bids for the appointment of consultants who would validate the costs associated with the running of VOVL’s upstream oil and gas assets in the two geographies.

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

Read more »

Payments banks urge RBI for the right to lend

Rishi Gupta, MD and chief executive officer of Fino Payments Bank, said the payments environment has changed significantly over the years since the licences were issued

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

Read more »

Indian Bank Q1 net profit jumps 75 pct to Rs 365 crore

With lesser slippage, the bank's provisioning was lower, she said, adding that this quarter the bank posted a healthy growth in all segments.

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

Read more »

SBI again seeks EOIs for Videocon’s offshore assets

In July 2018, SBICaps had sought bids for the appointment of consultants who would validate the costs associated with the running of VOVL’s upstream oil and gas assets in the two geographies.

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

Read more »

Payments banks urge RBI for the right to lend

Rishi Gupta, MD and chief executive officer of Fino Payments Bank, said the payments environment has changed significantly over the years since the licences were issued

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

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Indian Bank Q1 net profit jumps 75 pct to Rs 365 crore

With lesser slippage, the bank's provisioning was lower, she said, adding that this quarter the bank posted a healthy growth in all segments.

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

Read more »

SBI again seeks EOIs for Videocon’s offshore assets

In July 2018, SBICaps had sought bids for the appointment of consultants who would validate the costs associated with the running of VOVL’s upstream oil and gas assets in the two geographies.

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

Read more »

Payments banks urge RBI for the right to lend

Rishi Gupta, MD and chief executive officer of Fino Payments Bank, said the payments environment has changed significantly over the years since the licences were issued

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

Read more »

Indian Bank Q1 net profit jumps 75 pct to Rs 365 crore

With lesser slippage, the bank's provisioning was lower, she said, adding that this quarter the bank posted a healthy growth in all segments.

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

Read more »

SBI again seeks EOIs for Videocon’s offshore assets

In July 2018, SBICaps had sought bids for the appointment of consultants who would validate the costs associated with the running of VOVL’s upstream oil and gas assets in the two geographies.

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

Read more »

Payments banks urge RBI for the right to lend

Rishi Gupta, MD and chief executive officer of Fino Payments Bank, said the payments environment has changed significantly over the years since the licences were issued

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

Read more »

Indian Bank Q1 net profit jumps 75 pct to Rs 365 crore

With lesser slippage, the bank's provisioning was lower, she said, adding that this quarter the bank posted a healthy growth in all segments.

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

Read more »

SBI again seeks EOIs for Videocon’s offshore assets

In July 2018, SBICaps had sought bids for the appointment of consultants who would validate the costs associated with the running of VOVL’s upstream oil and gas assets in the two geographies.

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

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Under two months,Moody’s again warns of junking Yes Bank ratings

The bank's common equity tier 1 ratio also declined to 8 in June from 8.4 in March.

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Payments banks urge RBI for the right to lend

Rishi Gupta, MD and chief executive officer of Fino Payments Bank, said the payments environment has changed significantly over the years since the licences were issued

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

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Indian Bank Q1 net profit jumps 75 pct to Rs 365 crore

With lesser slippage, the bank's provisioning was lower, she said, adding that this quarter the bank posted a healthy growth in all segments.

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

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SBI again seeks EOIs for Videocon’s offshore assets

In July 2018, SBICaps had sought bids for the appointment of consultants who would validate the costs associated with the running of VOVL’s upstream oil and gas assets in the two geographies.

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

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State Bank of India seeks bids for Videocon’s overseas oil, gas assets

The company ventured into Brazil and Mozambique oil and gas assets over a decade ago, buoyed by its experience in oil production in India's east coast.

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

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State Bank of India seeks bids for Videocon’s overseas oil, gas assets

The company ventured into Brazil and Mozambique oil and gas assets over a decade ago, buoyed by its experience in oil production in India's east coast.

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

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State Bank of India seeks bids for Videocon’s overseas oil, gas assets

The company ventured into Brazil and Mozambique oil and gas assets over a decade ago, buoyed by its experience in oil production in India's east coast.

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

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IIFL Finance to raise ₹1,000 cr via bonds, offers up to 10.5% yield

The public issue opens between August 6-30, with a face value of ₹ 1,000 and the minimum application size is ₹ 10,000 across all categories.

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

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Repo rate could touch 5 per cent level by March 2020: SBI report

The Reserve Bank of India (RBI) could cut repo rate by 25 basis points (bps) in the August 7 policy meet and further reduce it by 50-75 bps to achiev

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State Bank of India seeks bids for Videocon’s overseas oil, gas assets

The company ventured into Brazil and Mozambique oil and gas assets over a decade ago, buoyed by its experience in oil production in India's east coast.

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

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State Bank of India seeks bids for Videocon’s overseas oil, gas assets

The company ventured into Brazil and Mozambique oil and gas assets over a decade ago, buoyed by its experience in oil production in India's east coast.

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

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Senior citizen loses Rs 25 lakh to SIM swap fraud: Here's how

A senior citizen is struggling to recover Rs 25 lakh debited fraudulently from his bank account using a duplicate SIM card. The amount was transferred into four accounts across the country. While the police are investigating the money trail, the multi-state nature of the crime is making recovery difficult.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2MN4wSL

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State Bank of India seeks bids for Videocon’s overseas oil, gas assets

The company ventured into Brazil and Mozambique oil and gas assets over a decade ago, buoyed by its experience in oil production in India's east coast.

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

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HSBC says CEO Flint steps down as it faces ‘challenging’ geopolitics

Flint's departure came despite the good results announced on Tuesday with pre-tax profit of $6.2 billion for the second quarter.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Yp6Cip

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HSBC says CEO Flint steps down as it faces ‘challenging’ geopolitics

Flint's departure came despite the good results announced on Tuesday with pre-tax profit of $6.2 billion for the second quarter.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Yp6Cip

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HSBC says CEO Flint steps down as it faces ‘challenging’ geopolitics

Flint's departure came despite the good results announced on Tuesday with pre-tax profit of $6.2 billion for the second quarter.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Yp6Cip

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Finance ministry to review credit, bad loans with banks

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2H0bS1x

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Andhra Bank turns around, posts Rs 52-cr net profit in Q1

Andhra Bank has returned to profit with a net profit of Rs 52 crore in the first quarter ended June 30, 2019, due to reduction in the provision for b

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

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HSBC says CEO Flint steps down as it faces ‘challenging’ geopolitics

Flint's departure came despite the good results announced on Tuesday with pre-tax profit of $6.2 billion for the second quarter.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Yp6Cip

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HSBC says CEO Flint steps down as it faces ‘challenging’ geopolitics

Flint's departure came despite the good results announced on Tuesday with pre-tax profit of $6.2 billion for the second quarter.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Yp6Cip

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HSBC CEO quits after 18 mnths in role; shares fall

HSBC announced the shock departure of chief executive officer John Flint after just 18 months in the role, saying the bank needed a change at the top to address "a challenging global environment". The Hong Kong-listed shares of HSBC fell as much as 1.9% to Hong Kong $61 on Monday, the lowest since October 29, 2018, while the broader market was down 2.9%.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/31cDDeG

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Deloitte quits as auditor of crisis-hit DHFL: Sources

Cash-strapped DHFL is yet to announce the first quarter results of the current financial year

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HSBC CEO John Flint steps down in a surprise move

The bank’s Hong Kong-listed shares fall about 15 per cent in the past year

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

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We can’t be too liberal; in these times it can’t be business as usual: Rajnish Kumar, SBI chairman

The first half is always slow but this year particularly consumption credit, which was driving the credit growth of all banks, has taken a hit, the SBI chairman said.

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

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CBI unlikely to charge PNB executives with smaller fraud

Wants to avoid giving Ananthasubramanian, others double jeopardy defence in PNB case.

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

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At 7.3%, retail loan growth slips to 5-year low in first half of 2019

The slowing growth in retail loans comes despite 75 bps of repo rate cut in three consecutive monetary policies.

from Banking/Finance-Industry-Economic Times https://ift.tt/2YGwz8z

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CASA accounts see a sharp drop as savers chase higher rates

Bankers said the drop in CASA also points to lower consumption demand as people prefer saving for the future instead of spending now.

from Banking/Finance-Industry-Economic Times https://ift.tt/31kOaV4

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ICICI Lombard using AI for fraud detection

Private sector insurer ICICI Lombard is using artificial intelligence (AI) and machine learning to not only improve claims processing and settlement

from Business Line - Money & Banking https://ift.tt/2OFR8SN

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No exposure to any Cafe Coffee Day group cos, says Tata Capital Financial Services

Amid talk of financial stress driving founder V. G. Siddhartha to allegedly end his life, the coffee tycoon had repaid all the loans taken from Tata

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How the NBFC crisis sent India's automobile sector into a tailspin

With NBFCs struggling, auto component makers, dealers and buyers were stung badly

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How central banks influence financial conditions

Central banks, via monetary policy, ultimately aim to influence domestic financial conditions, which in turn affect economic variables such as growth

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JM Financial arm to raise up to Rs 500 cr

JM Financial said its subsidiary JM Financial Products Ltd will raise up to Rs 500 crore by issuing bonds. JM Financial Products Limited (JMFPL) has

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RBI may go for 25 bps rate cut for 4th time in row on Wednesday

The Reserve Bank is expected to cut the policy rate by 25 basis points, for the fourth time in a row, on Wednesday to give a boost to the economy at

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Govt eases norms for re-insurers to set up shop at IFSC

The notification paves way for a significant reduction in the `net owned funds’ requirement to ₹ 1,000 crore.

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Federal Bank launches instant demat account opening facility

Federal Bank has launched a digital facility for instant online opening of demat accounts for its customers.Shyam Srinivasan, MD & CEO of Federal

from Business Line - Money & Banking https://ift.tt/2KrR03S

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No exposure to any Cafe Coffee Day group companies, says Tata Capital Financial Services

According to TCFS, it had a maximum exposure of Rs 165 crore to Café Coffee Day (CCD) group in FY2017-18, and that the entire amount had been repaid by March 2019.

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

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How a shadow banking crisis sent India's autos sector into a tailspin

Non-banking finance companies (NBFCs) have dramatically slashed lending following the collapse of one of the biggest, IL&FS, in late 2018.

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

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