RBI bars Equitas from opening new branches

Equitas Bank received the final licence from the RBI in July 2016.

from Banking/Finance-Industry-Economic Times https://ift.tt/313jqIG

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NBFCs in dilemma as govt suspends filing of statements

The issue relates to the MCA notifying the Companies (Indian Accounting Standards (Ind AS)) Rules, 2015 stipulating adoption and applicability of Ind AS in a phased manner beginning from accounting period 2016-17.

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

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RBI order: Private banks not keen on linking retail loans to repo rate

Currently, only two private banks have on offer repo-rate linked retail loans. After RBI notification, all other private lenders will have to fall in line

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2UAE8gy

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Banks worry funds freeze may affect operations at DHFL

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Rural community in India is ready for the development : Mann Deshi Bank founder Chetna Sinha

“Our community in rural India is ready for their development and also to change the world with their comparison, capability and capital,” said Chetna

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NBFCs in dilemma as govt suspends filing of statements

The issue relates to the MCA notifying the Companies (Indian Accounting Standards (Ind AS)) Rules, 2015 stipulating adoption and applicability of Ind AS in a phased manner beginning from accounting period 2016-17.

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

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RBI order: Private banks not keen on linking retail loans to repo rate

Currently, only two private banks have on offer repo-rate linked retail loans. After RBI notification, all other private lenders will have to fall in line

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2UAE8gy

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More banks will soon enter the platform business: Rajashekara Maiya

 Banks in more than 100 countries rely on Infosys’ flagship product Finacle, an industry-leading digital banking solution suite, to service more than

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NBFCs in dilemma as govt suspends filing of statements

The issue relates to the MCA notifying the Companies (Indian Accounting Standards (Ind AS)) Rules, 2015 stipulating adoption and applicability of Ind AS in a phased manner beginning from accounting period 2016-17.

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

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RBI order: Private banks not keen on linking retail loans to repo rate

Currently, only two private banks have on offer repo-rate linked retail loans. After RBI notification, all other private lenders will have to fall in line

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2UAE8gy

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NBFCs in dilemma as govt suspends filing of statements

The issue relates to the MCA notifying the Companies (Indian Accounting Standards (Ind AS)) Rules, 2015 stipulating adoption and applicability of Ind AS in a phased manner beginning from accounting period 2016-17.

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

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RBI order: Private banks not keen on linking retail loans to repo rate

Currently, only two private banks have on offer repo-rate linked retail loans. After RBI notification, all other private lenders will have to fall in line

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2UAE8gy

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RBI refuses to extend Equitas SFB’s deadline for listing

RBI said that the bank is in violation of listing norms.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Lv28xE

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Mega bank mergers serve no immediate purpose, could have been implemented in phases

Despite long-term vision, this can’t be good at a time liquidity flow is severely constrained

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/314eSls

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RBI refuses to extend Equitas SFB’s deadline for listing

RBI said that the bank is in violation of listing norms.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Lv28xE

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Merger of banks likely to slow loan growth

Despite long-term vision, this can’t be good at a time liquidity flow is severely constrained

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/314eSls

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SBI stopped from selling Videocon overseas assets

"The SBI is hereby prohibited to go ahead with the advertisement and directed to maintain the status quo till the decision is pronounced on merits", said NCLT.

from Banking/Finance-Industry-Economic Times https://ift.tt/2ZWtG42

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Edelweiss, SBI sign pact for co-origination of loans to MSMEs

To provide business loans, machinery loans and SME asset-backed loans ranging from Rs 3 lakh to Rs 50 lakh at a blended rate of interest.

from Business Line - Money & Banking https://ift.tt/2UF1QII

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Insolvency professional complains to SBI about selection criteria for RPs

Resolution professionals are practitioners who are registered with the IBBI and are certified to administer companies undergoing bankruptcy proceedings.

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

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NBFC loan disbursements fall 30 per cent in Q1

With a continued turmoil in the financial sector, loans disbursements by Non-Banking Finance companies (NBFCs) in the first quarter of this fiscal yea

from Business Line - Money & Banking https://ift.tt/2ZP84q7

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Oriental Bank reveals loan exposure to Nirav Modi, Choksi

The OBC has now issued notices declaring the duo and their companies as 'Willful Defaulters' for varying loan amounts.

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

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PNB, OBC, United Bank eye merger by April

The board of Punjab National Bank (PNB), which cleared a plan for the merger of Oriental Bank of Commerce (OBC) and United Bank of India on Thursday, is looking at an April deadline for completing the process to create the country's second largest bank, while trying to minimise hardships to customers.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/30Ygzkl

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ESAF Bank hosts global alliance meet on knowledge sharing in Kochi

ESAF Small Finance Bank Limited hosted the Asia-Pacific Chapter meet of GABV — Global Alliance for Banking on Values here.Knowledge sharing on advanc

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NBFC industry's credit problems appear to be over: CEA K Subramaniam

“The concerns on NBFCs have arisen but have now bottomed or seem to be bottomed out, have also led to the current problem,” the CEA said.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Uv2AA3

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SBI plans to review repo-linked home loan

State Bank of India (SBI) will review its existing repo rate-linked home loan following the RBI directive that all retail loans should be linked to an external benchmark. The bank will also try to link interest rates on deposits to floating rate benchmarks.

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

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RBI not in favour of banks buying out insurers

Can acquire up to 30% stake

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Andhra Bank-Union Bank merger will not impact operations of IndiaFirst Life: CEO

Insurer eyes 30% growth in retail new business premium for FY20

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Syndicate Bank, SBI Life reinforce their Banca partnership

Syndicate Bank, a public sector bank, and SBI Life Insurance have now strengthened their bancassurance tie-up by signing a pact for long term associat

from Business Line - Money & Banking https://ift.tt/2ZWaL9L

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Cashless India? Digital payment drive not a hit with traders

Banks don't make money in the acceptance business and taking away the sliver of cover they earn from MDR could hamper investments in merchant acquisition.

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

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RBI order impact: NBFCs set to lose market share as banks offer better terms

Non-banks have already lost significant market share to banks amid an ongoing crisis of confidence and consequent liquidity crunch

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2HQ4qWZ

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Cashless India? Digital payment drive not a hit with traders

Banks don't make money in the acceptance business and taking away the sliver of cover they earn from MDR could hamper investments in merchant acquisition.

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

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RBI order impact: NBFCs set to lose market share as banks offer better terms

Non-banks have already lost significant market share to banks amid an ongoing crisis of confidence and consequent liquidity crunch

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2HQ4qWZ

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External benchmarks may not bring down loan rates

NPA-laden banks may increase spreads over benchmark rates to protect profitability.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Llx8RE

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Cashless India? Digital payment drive not a hit with traders

Banks don't make money in the acceptance business and taking away the sliver of cover they earn from MDR could hamper investments in merchant acquisition.

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

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RBI order impact: NBFCs set to lose market share as banks offer better terms

Non-banks have already lost significant market share to banks amid an ongoing crisis of confidence and consequent liquidity crunch

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2HQ4qWZ

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Digital lag: Less than half the vendors acquired by banks going cashless

Banks don't make money in the acceptance business and taking away the sliver of cover they earn from MDR could hamper investments in merchant acquisition.

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

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RBI order impact: NBFCs set to lose market share as banks offer better terms

Non-banks have already lost significant market share to banks amid an ongoing crisis of confidence and consequent liquidity crunch

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2HQ4qWZ

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Advent, Birlas to pump Rs 1,000 crore each into Aditya Birla Capital

PremjiInvest to put in Rs 100 cr; fundraise to help refinance debt, provide growth equity.

from Banking/Finance-Industry-Economic Times https://ift.tt/2PP4vAL

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Digital lag: Less than half the vendors acquired by banks going cashless

Banks don't make money in the acceptance business and taking away the sliver of cover they earn from MDR could hamper investments in merchant acquisition.

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

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RBI order impact: NBFCs set to lose market share as banks offer better terms

Non-banks have already lost significant market share to banks amid an ongoing crisis of confidence and consequent liquidity crunch

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2HQ4qWZ

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PNB board approves amalgamation with OBC, United Bank

The board of Punjab National Bank (PNB) has given in-principle approval for the amalgamation of Oriental Bank of Commerce and United Bank of India wi

from Business Line - Money & Banking https://ift.tt/2PJFLK4

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Enough liquidity in banking system to fund auto sector: Uday Kotak

Billionaire banker Uday Kotak said there is enough liquidity in the banking system to finance any form of vehicle despite the slowdown in the economy, while stressing on the need for manufacturers to have captive finance companies to boost demand.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2zS0Nvt

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Banks sold stressed assets worth Rs 11.85 lakh cr in last four years; resolution process catches pace

The prudential framework enables the sale of stressed standard assets, which are in default, as part of the resolution process.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/30VezZW

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Enough liquidity in banking system to fund auto sector: Uday Kotak

Billionaire banker Uday Kotak said there is enough liquidity in the banking system to finance any form of vehicle despite the slowdown in the economy, while stressing on the need for manufacturers to have captive finance companies to boost demand.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2zS0Nvt

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Banks sold stressed assets worth Rs 11.85 lakh cr in last four years; resolution process catches pace

The prudential framework enables the sale of stressed standard assets, which are in default, as part of the resolution process.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/30VezZW

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Good news for borrowers: New retail, MSME loans to get cheaper as RBI makes repo linking mandatory

The RBI has cut the benchmark lending rate by 110 basis points since February but banks have transmitted only a fraction of that.

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

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Good news for borrowers: New retail, MSME loans to get cheaper as RBI makes repo linking mandatory

The RBI has cut the benchmark lending rate by 110 basis points since February but banks have transmitted only a fraction of that.

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

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Good news for borrowers: New retail, MSME loans to get cheaper as RBI makes repo linking mandatory

The RBI has cut the benchmark lending rate by 110 basis points since February but banks have transmitted only a fraction of that.

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

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Digital incentives: Banks may seek framework to carry out zero-MDR order

Fintechs demand rollback of Budget proposal to do away with the fee paid by merchants for accepting digital payments

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

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Good news for borrowers: New retail, MSME loans to get cheaper as RBI makes repo linking mandatory

The RBI has cut the benchmark lending rate by 110 basis points since February but banks have transmitted only a fraction of that.

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

Read more »

Good news for borrowers: New retail, MSME loans to get cheaper as RBI makes repo linking mandatory

The RBI has cut the benchmark lending rate by 110 basis points since February but banks have transmitted only a fraction of that.

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

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Digital incentives: Banks may seek framework to carry out zero-MDR order

Fintechs demand rollback of Budget proposal to do away with the fee paid by merchants for accepting digital payments

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

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Digital incentives: Banks may seek framework to carry out zero-MDR order

Fintechs demand rollback of Budget proposal to do away with the fee paid by merchants for accepting digital payments

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

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External benchmarking good news for customers but banks remain cautious

It’s definitely celebration time for borrowers as loans are set to get cheaper with the Reserve Bank of India mandating banks to ensure that all new l

from Business Line - Money & Banking https://ift.tt/2zQUAQ7

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Rate cuts for new home loans to be passed on automatically

All banks are now mandatorily required to link floating rate loans extended to retail and small business to the repo rate - the rate at which lenders borrow from the RBI - or to treasury bill rates from October 2019. The move comes days after public sector banks announced a slew of repo-linked loans after a nudge from finance minister Nirmala Sitharaman.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2ZvpOf4

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Digital incentives: Banks may seek framework to carry out zero-MDR order

Fintechs demand rollback of Budget proposal to do away with the fee paid by merchants for accepting digital payments

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

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UPI transactions top 900 million in August

July saw 822 million transactions; use may touch 1 billion in the upcoming festival months.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Zzie38

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Regulatory efforts to boost credit fail as loan sanctions plunge 28%

The data showed that housing, property and auto loan segments were the worst hit. Housing loan sanctions declined by 30% to Rs 45,000 crore against Rs 64,000 crore in March.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Lv3CYr

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Digital incentives: Banks may seek framework to carry out zero-MDR order

Fintechs demand rollback of Budget proposal to do away with the fee paid by merchants for accepting digital payments

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

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Digital incentives: Banks may seek framework to carry out zero-MDR order

Fintechs demand rollback of Budget proposal to do away with the fee paid by merchants for accepting digital payments

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

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Link loans to benchmarks: RBI to banks

Regime kicks in from October 1, covers all new loans to retail customers and MSMEs.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Lv3ok3

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UPI entities may face cap on market share

The RBI had spoken about a similar risk on payments ecosystem while circulating a discussion paper on setting up other retail payment systems like UPI.

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

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Digital incentives: Banks may seek framework to carry out zero-MDR order

Fintechs demand rollback of Budget proposal to do away with the fee paid by merchants for accepting digital payments

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

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NPAs likely to come down by this fiscal, but assets over Rs 1 lakh crore still not recognised as bad loans

Even as gross non-performing assets (NPAs) are expected to come down marginally by end of ongoing fiscal, assets over Rs 1 lakh crore that are under pressure are still to be recognised as bad loans, a report said.

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

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Canara Bank board to meet next week to consider Rs 9,000-crore capital infusion

Last week, the government unveiled a mega plan to merge 10 public sector banks into four with a view to creating fewer and stronger global-sized lenders with robust balance sheets that can be used to boost credit and spur growth.

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

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Allow FPIs, insurers, MFs, PFs to buy bad loans directly, task force tells RBI

In order to address the issue of possible volatility that may emerge by allowing foreign players, a scheme similar to that of the Voluntary Retention Route (VRR) for FPI investments in debt markets may be envisaged, the task force suggested.

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

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TIW Private Equity acquires majority stake in Digital Refresh Networks for $6 million

Indian buyout firm TIW Private Equity has acquired a majority stake in Digital Refresh Networks Pvt Ltd, a Mumbai-based digital platform management fi

from Business Line - Money & Banking https://ift.tt/2NV3Hrc

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LIC has lost over Rs 17,000 cr of wealth in PSU banks since June quarter last year

Bailing out IDBI Bank itself has cost the insurer over Rs 12,000 crore

from Business Line - Money & Banking https://ift.tt/2Zzp2NY

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Rewarding failure? IDBI Bank to get Rs 9,300 crore from govt, LIC

On August 27, S&P Global Ratings placed IDBI Bank’s ‘BB/B’ ratings on “credit-watch negative” after regulatory capital breach. The bank’s capital to risk weighted assets ratio (CRAR) had slipped to 8.14% (regulatory requirement is 9%) as on June 30, 2019, from 11.58% on March 31, 2019.

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

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Rewarding failure? IDBI Bank to get Rs 9,300 crore from govt, LIC

On August 27, S&P Global Ratings placed IDBI Bank’s ‘BB/B’ ratings on “credit-watch negative” after regulatory capital breach. The bank’s capital to risk weighted assets ratio (CRAR) had slipped to 8.14% (regulatory requirement is 9%) as on June 30, 2019, from 11.58% on March 31, 2019.

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

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Merger won’t slow down business: Syndicate Bank

Syndicate Bank has three-percentage-point higher capital compared to the minimum requirement.

from Banking/Finance-Industry-Economic Times https://ift.tt/2LhO6Ai

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Wave of bank mergers may sink fresh hiring

‘Dip in recruitment, a natural offshoot of rationalisation’

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

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LIC Coimbatore sets business target of 1.92 lakh policies in 2019-20

LIC, Coimbatore division, has set a business target of 1,92,000 policies with a first premium income of Rs 549 crore for the 2019-20 fiscal.The divis

from Business Line - Money & Banking https://ift.tt/2Lh6xFm

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FinMin allows PSBs to create Chief General Manager posts

New flexibility to be available for public sector banks with total business of over ₹10 lakh crore

from Business Line - Money & Banking https://ift.tt/2zKDiV0

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Rewarding failure? IDBI Bank to get Rs 9,300 crore from govt, LIC

On August 27, S&P Global Ratings placed IDBI Bank’s ‘BB/B’ ratings on “credit-watch negative” after regulatory capital breach. The bank’s capital to risk weighted assets ratio (CRAR) had slipped to 8.14% (regulatory requirement is 9%) as on June 30, 2019, from 11.58% on March 31, 2019.

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

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PSBs’ credit growth likely to slip: Credit Suisse, Jefferies

The credit growth of the PSBs involved in the merger process is likely to slow down for some time even though the government allocated `55, 200-crore capital

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/30Uhke7

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Indian Bank expects to emerge as modern lender with global focus

Indian Bank has a strong presence in South whereas Allahabad Bank is present in northern and eastern India.

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

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Why PSB stocks can continue to fall post bank merger plans

Significant dilution in book value, will hurt minority shareholders, including LIC

from Business Line - Money & Banking https://ift.tt/2Zx7SAz

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UPI, IMPS payments at record high in August

Digital payments saw significant growth in August, with the Centre’s Unified Payments Interface (UPI) and IMPS touching record highs in terms of both

from Business Line - Money & Banking https://ift.tt/2MUSt6n

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Rewarding failure? IDBI Bank to get Rs 9,300 crore from govt, LIC

On August 27, S&P Global Ratings placed IDBI Bank’s ‘BB/B’ ratings on “credit-watch negative” after regulatory capital breach. The bank’s capital to risk weighted assets ratio (CRAR) had slipped to 8.14% (regulatory requirement is 9%) as on June 30, 2019, from 11.58% on March 31, 2019.

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

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PSBs’ credit growth likely to slip: Credit Suisse, Jefferies

The credit growth of the PSBs involved in the merger process is likely to slow down for some time even though the government allocated `55, 200-crore capital

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/30Uhke7

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Indian Bank expects to emerge as modern lender with global focus

Indian Bank has a strong presence in South whereas Allahabad Bank is present in northern and eastern India.

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

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A new voyage with bank mergers: Sail on rough seas

Mega public sector bank mergers tick many boxes, but the success or failure of the move will depend on the execution rather than the action itself.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Ut5KE8

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Advent looks to invest Rs 1,300 crore in Birla's financial services business

PE group may pick up 6-7% of Aditya Birla Capital; ABCL board to meet on Thursday to approve fundraising deal.

from Banking/Finance-Industry-Economic Times https://ift.tt/2zN4IcL

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PSBs’ credit growth likely to slip: Credit Suisse, Jefferies

The credit growth of the PSBs involved in the merger process is likely to slow down for some time even though the government allocated `55, 200-crore capital

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/30Uhke7

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Indian Bank expects to emerge as modern lender with global focus

Indian Bank has a strong presence in South whereas Allahabad Bank is present in northern and eastern India.

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

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IDBI Bank targets ₹2,000 cr premium for LIC this fiscal

IDBI Bank, through its branches, has brought in a premium of ₹230 crore for Life Insurance Corporation (LIC) of India between April and August this ye

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

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Rupee likely to face further selling pressure

The rupee tumbled on Tuesday with GDP growth in Q1 falling to a six-year low. The Indian currency opened at a much lower 71.97 against the dollar,

from Business Line - Money & Banking https://ift.tt/2ZGjv7B

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‘NPAs may dip a tad to ₹9-lakh cr by FY20-end’

Gross bad loans of banks are expected to come down marginally to ₹9.1-lakh crore by the end of the current financial year, according to a report. Gro

from Business Line - Money & Banking https://ift.tt/2PGyQS3

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Panel on fintech batsfor ‘marketplace model’of debt financing

The government-constituted steering committee on fintech has urged the Finance Ministry to develop a “marketplace model of debt financing in India” by

from Business Line - Money & Banking https://ift.tt/2UqS78v

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Uco Bank as regional bank causes hurtburn in United Bank of India

Uco Bank is, however, a bigger bank with 3088 branches and Rs 3.11 lakh crore business mix compared with UBI’s 2055 branches and Rs 2.06 lakh crore business.

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

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NPAs may come down to Rs 9.1 lakh cr by FY20: Report

Power, infrastructure and steel sectors together constitute about half of Rs 4.1 lakh crore worth stressed assets.

from Banking/Finance-Industry-Economic Times https://ift.tt/2ZJ4ZIl

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IRDAI sets up panel to revisit 3-yr old trade credit insurance guidelines

IRDAI said it decided to revisit the guidelines after it received representations from various stakeholders.

from Banking/Finance-Industry-Economic Times https://ift.tt/30V4rjQ

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ICICI Bank targets 23% growth in retail loan disbursement in UP in FY20

ICICI Bank executive director Anup Bagchi said that two major segments of retail loans - consumer loan and mortgages are set to grow at a rapid pace in the state this financial year.

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

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Indian Bank expects to complete merger with Allahabad Bank by March 31

Last week, the government announced consolidation of 10 public sector banks into four mega state-owned lenders.

from Banking/Finance-Industry-Economic Times https://ift.tt/30W2K5Y

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Merger woes: Bank officers associations to meet in Delhi on September 5

Finance Minister Nirmala Sitharaman last week announced the merger of 10 Public Sector Banks into 4.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Lfvl0s

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Indian Bank expects to complete merger with Allahabad Bank by March next

State-owned Indian Bank expects to complete the merger with Allahabad Bank by the end of current fiscal, a top official said.Last week, the governme

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

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IDBI Bank to get Rs 9000 crore

The Central Government on Tuesday announced providing additional capital to IDBI Bank. This will help bank to provide more loan.As of now, LIC of Indi

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

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Govt clears over Rs 9,000cr fund infusion in IDBI Bank

The government on Tuesday approved a recapitalisation plan of Rs 9,000 crore for the beleagured IDBI Bank. The one-time fund infusion will be done by both government and Life Insurance Corporation of India (LIC). While government will infuse Rs 4,557 crore by as one-time re-capitalisation, LIC -- which is the major owner of IDBI Bank, will also infuse Rs 4,700 crore in IDBI.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/34lezEE

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Satya MicroCapital raises Rs 28.5 crore through NCDs

Satya MicroCapital is an NBFC-MFI that offers collateral-free credit to micro enterprises

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

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Banks merger: India plans mega banks but analysts say bet on rivals instead

The NSE Nifty Bank Index, a gauge of 12 lenders, dropped 1.4%, while the NSE Nifty PSU Bank Index -- comprising 12 state-owned banks -- slid 3%. Punjab National Bank’s 5.6% decline was the most among state lenders, while Syndicate Bank was the lone gainer, rising 2.5%.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ZvTCs6

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Consumer finance: Growth at NBFC/HFCs still decelerating

Risk aversion may take time to ease; HDFC/LICHF among HFCs and BAF/MMFS among NBFCs are preferable

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

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Anil Ambani's shipyard risks insolvency as banks spurn debt plan

Any court ruling favoring the banks would deal another blow to the tycoon’s stressed empire

from Banking/Finance-Industry-Economic Times https://ift.tt/2LfO6kk

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Cost synergies from PSU bank mergers unlikely: Credit Suisse

According to a report from Credit Suisse, meaningful cost synergies from public sector banks mergers are unlikely, given the limited flexibility on re

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Government set to bail out IDBI as part of Rs 9,000 crore plan

While LIC, which is the majority owner of IDBI Bank, will have to cough up close to Rs 4,500 crore as its share, the government is expected to chip in with a matching contribution, sources told TOI.

from Banking/Finance-Industry-Economic Times https://ift.tt/32rBc8z

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Govt set to bail out IDBI as part of Rs 9,000cr plan

Beleaguered IDBI Bank is set to get a fresh lifeline of Rs 9,000 crore, with the government planning to pay its share of the bailout money that Life Insurance Corporation has been seeking for the past several months.

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

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India plans mega banks but analysts say bet on rivals instead

CICI Bank Ltd. and Axis Bank Ltd. remain UBS’s most-preferred picks.

from Banking/Finance-Industry-Economic Times https://ift.tt/2PD5hki

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PNB to consider Rs 18k-cr fund infusion this week

“The board shall consider capital infusion up to Rs 18,000 crore in its meeting scheduled on September 5, 2019,” PNB said in a regulatory filing.

from Banking/Finance-Industry-Economic Times https://ift.tt/2PB7AUY

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Panel blames lack of level playing field, discriminatory regulation for high level of cash in system

Fintech: The panel said there should not be any discrimination between banks and non-banking companies.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2PA4C2Z

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Panel blames lack of level playing field, discriminatory regulation for high level of cash in system

Fintech: The panel said there should not be any discrimination between banks and non-banking companies.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2PA4C2Z

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Panel blames lack of level playing field, discriminatory regulation for high level of cash in system

Fintech: The panel said there should not be any discrimination between banks and non-banking companies.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2PA4C2Z

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Panel blames lack of level playing field, discriminatory regulation for high level of cash in system

Fintech: The panel said there should not be any discrimination between banks and non-banking companies.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2PA4C2Z

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PSB heads told to reform boards

Banks have been asked to form a risk management committee, and to combine the nomination and remuneration committees.

from Banking/Finance-Industry-Economic Times https://ift.tt/34kzrvE

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Bank merges are no silver bullet for India

The benefits won’t be felt for years, while the Centre is staring at an economic crisis now.

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

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PNB board to consider Rs 18,000-crore capital infusion this week

Punjab National Bank (PNB) on Monday said the board will consider capital infusion of up to Rs 18,000 crore in its meeting later this week. It comes against the backdrop of the government's announcement on August 30 about merging 10 public sector banks into four entities, as part of which PNB will merge Oriental Bank of Commerce (OBC) and United Bank of India (UBI) with itself.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2ZO0P21

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PNB board to meet on September 5 to consider ₹ 18,000 crore capital infusion

It will also consider amalgamation of Oriental Bank of Commerce and United Bank of India with itself.

from Business Line - Money & Banking https://ift.tt/2Lp0ltM

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PNB board to consider Rs 18,000-crore capital infusion this week

The mega merger plan of public sector banks (PSBs) is being seen as the biggest consolidated exercise in the banking space, aimed at making them lenders of global size and scale.

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

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Facebook's Libra 'could undermine ECB': Official

Widespread adoption of Facebook's proposed "Libra" cryptocurrency could harm the European Central Bank's ability to manage the eurozone economy and threaten the euro itself, a top official said on Monday.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/30PjThq

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Panel on fintech submits a final report to FM Nirmala Sitharaman

 A steering committee on fintech-related issues has recommended that a comprehensive legal framework for consumer protection be put in place early kee

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

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Finance Ministry expects remaining four banks to be out of PCA framework this fiscal

Last week, the government announced consolidation of 10 public sector banks (PSBs) into four mega state-owned lenders.

from Banking/Finance-Industry-Economic Times https://ift.tt/32krViH

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India Inc's foreign borrowings more than double to $4.98 billion in July: RBI

India Inc's foreign borrowings grew over two-fold to $4.98 billion in July over the same month a year ago, according to Reserve Bank of India (RBI) data.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2LdY7i8

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Lessons for India from the IL&FS fiasco

IL&FS was deemed ‘too big to fail’ by many experts but eventually succumbed to greed and ambition.

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

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NPA crisis: PSU banks likely to revamp Mudra scheme

A source told FE that all aspects of the Mudra scheme — including geographical reach, bad loans and need for better features, enhanced access to the intended beneficiaries — are being reviewed by PSBs.

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

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Banks may take 3 years for tech merger

Even if the core banking platforms are the same, each would require customisation.

from Banking/Finance-Industry-Economic Times https://ift.tt/2lks45q

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Federal Bank to link savings deposit rate to external benchmarks

The Reserve Bank of India has been cajoling banks to move their interest rates to external benchmarks like its repo rate, at which it lends to the system, in order to faster transmission of its policy actions.

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

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'There won't be single job loss due to banks merger'

She was replying to a question on the bank employees unions opposing the merger plan on the ground it would lead to loss of jobs. Sitharaman on Friday unveiled a mega plan to merge 10 public sector banks into four as part of plans to create fewer and stronger global-sized lenders as the government looked to boost economic growth from a five-year low.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2PvSv6W

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There will not be single job loss due to merger of banks: FM

She was replying to a question on the bank employees unions opposing the merger plan on the ground it would lead to loss of jobs.

from Banking/Finance-Industry-Economic Times https://ift.tt/2ZqdT29

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PSBs consolidation building block for $ 5 trillion economy: Finance secretary

The government’s decision to consolidate 10 public sector banks (PSB) into four mega state-owned lenders will act as a building block for achieving $

from Business Line - Money & Banking https://ift.tt/2NGd26l

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There will not be single job loss due to merger of banks: Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Sunday allayed fears of job losses following the proposed merger of public sector banks, saying not even one e

from Business Line - Money & Banking https://ift.tt/2LdcuD8

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Edelweiss Group, Central Bank of India partner to co-lend to MSMEs

ECL Finance Ltd, a subsidiary of Edelweiss Financial Services, and Central Bank of India have signed an agreement for priority sector lending to Micr

from Business Line - Money & Banking https://ift.tt/2zIZ2QU

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Federal Bank to link savings deposit rate to external benchmarks

The Reserve Bank of India has been cajoling banks to move their interest rates to external benchmarks like its repo rate, at which it lends to the system, in order to faster transmission of its policy actions.

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

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After 'Hyderabad', now 'Andhra' to slip into banking history

The Centre's decision to merge Andhra Bank with Union Bank of India and Corporation Bank will snap the emotional link the people of Andhra Pradesh and Telangana had with this 96-year-old bank.

from Banking/Finance-Industry-Economic Times https://ift.tt/2NTVG6f

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SBI Card to soon issue Rupay credit cards: CEO Hardayal Prasad

RuPay is the first-of-its-kind domestic debit and credit card payment network of India developed by National Payments Corporation of India (NPCI).

from Banking/Finance-Industry-Economic Times https://ift.tt/2MP2ylj

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Federal Bank to link savings deposit rate to external benchmarks

The Reserve Bank of India has been cajoling banks to move their interest rates to external benchmarks like its repo rate, at which it lends to the system, in order to faster transmission of its policy actions.

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

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SBI Card to soon issue Rupay credit cards: CEO Hardayal Prasad

SBI Card will soon launch RuPay credit cards, a development which will give a boost to the homegrown payment network in the fast growing segment. Pre

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

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Federal Bank to link savings deposit rate to external benchmarks

The Reserve Bank of India has been cajoling banks to move their interest rates to external benchmarks like its repo rate, at which it lends to the system, in order to faster transmission of its policy actions.

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

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Allahabad Bank executive director sees good synergies with Indian Bank

The proposed merger of Kolkata-headquartered Allahabad Bank and Chennai-based Indian Bank will make the merged entity the seventh largest bank in India.

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

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Allahabad Bank executive director sees good synergies with Indian Bank

The proposed merger of Kolkata-headquartered Allahabad Bank and Chennai-based Indian Bank will make the merged entity the seventh largest bank in India.

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

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Allahabad Bank executive director sees good synergies with Indian Bank

The proposed merger of Kolkata-headquartered Allahabad Bank and Chennai-based Indian Bank will make the merged entity the seventh largest bank in India.

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

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View: Bank mergers and minor policy changes won’t revive economy

Simply freezing lending by the worst banks was never a long-term solution.

from Banking/Finance-Industry-Economic Times https://ift.tt/2PwZT21

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Allahabad Bank executive director sees good synergies with Indian Bank

The proposed merger of Kolkata-headquartered Allahabad Bank and Chennai-based Indian Bank will make the merged entity the seventh largest bank in India.

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

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Cheaper loans: Union Bank of India cuts MCLR across various tenors from September 1

Earlier this month, the bank also introduced repo linked lending rate (RLLR) for new home loans and vehicle loans.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2PzZiN0

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Cheaper loans: Union Bank of India cuts MCLR across various tenors from September 1

Earlier this month, the bank also introduced repo linked lending rate (RLLR) for new home loans and vehicle loans.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2PzZiN0

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Cheaper loans: Union Bank of India cuts MCLR across various tenors from September 1

Earlier this month, the bank also introduced repo linked lending rate (RLLR) for new home loans and vehicle loans.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2PzZiN0

Read more »

Cheaper loans: Union Bank of India cuts MCLR across various tenors from September 1

Earlier this month, the bank also introduced repo linked lending rate (RLLR) for new home loans and vehicle loans.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2PzZiN0

Read more »

Cheaper loans: Union Bank of India cuts MCLR across various tenors from September 1

Earlier this month, the bank also introduced repo linked lending rate (RLLR) for new home loans and vehicle loans.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2PzZiN0

Read more »

Cheaper loans: Union Bank of India cuts MCLR across various tenors from September 1

Earlier this month, the bank also introduced repo linked lending rate (RLLR) for new home loans and vehicle loans.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2PzZiN0

Read more »