Lakshmi Vilas Bank slams Religare Finvest, says committed to cooperating with authorities

During 2017-18, the bank had adjusted deposit-loans aggregating to Rs 794 crore, extended to RHC Holding and Ranchem, the group companies of RFL, against RFL’s deposits.

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DHFL board approves new CEO appointment

Engages Vaijinath M. Gavarshetty, former SBI CGM from October 1.

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Reliance Cap concludes 21.54% stake sale in RNAM for Rs 3,030 cr

Reliance Capital has announced the completion of 21.54 per cent stake sale in its mutual fund arm RNAM to joint venture partner Japan’s Nippon Life I

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DHFL resolution plan: 2.3 per cent of each lender category debt to be converted into equity

Financially stressed Dewan Housing Finance Corporation Ltd (DHFL) said 2.3 per cent of each category of lenders' debt exposure to it will be converte

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RBI puts Lakshmi Vilas Bank under PCA norms

The Reserve Bank of India (RBI) has initiated prompt corrective action (PCA) against Lakshmi Vilas Bank (LVB) after its directors are being probed for alleged fraud, the private lender said in a statement to exchanges on Saturday.

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RBI puts Lakshmi Vilas Bank under PCA norms

The Reserve Bank of India has put Lakshmi Vilas Bank under prompt corrective action framework due to high bad loans and insufficient capital.“It is he

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RBI initiates prompt corrective action for Lakshmi Vilas Bank after directors probed for alleged fraud

The Reserve Bank of India has initiated prompt corrective action for the troubled Lakshmi Vilas Bank.

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India’s biggest brands: HDFC Bank retains top rank for sixth time in a row

The BrandZ Top 75 Most Valuable Indian Brands ranking is based on market data from Bloomberg, consumer insights from around 3.7 million consumers globally, and includes opinions from around one lakh Indian consumers on 1,000 brands in 80 categories.

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‘PMC Bank was breaking RBI rules for 6-7 years’

Suspended MD of PMC Bank Joy Thomas has admitted that the troubled bank has had a long relationship with realty group HDIL and that the lender had been breaking RBI’s rules for six to seven years. In fact, the bank appointed Waryam Singh, who was on the board of HDIL—the bank’s largest borrower—as its chairman in 2015.

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India’s biggest brands: HDFC Bank retains top rank for sixth time in a row

The BrandZ Top 75 Most Valuable Indian Brands ranking is based on market data from Bloomberg, consumer insights from around 3.7 million consumers globally, and includes opinions from around one lakh Indian consumers on 1,000 brands in 80 categories.

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PMC Bank’s Rs 2,500 crore exposure to HDIL was in excess of RBI norms

He further said that the bank had sought time for a resolution plan, which the ED had agreed to, while also saying that the RBI would conduct a normal inspection which was also due

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Expect cabinet nod for all bank mergers will happen simultaneously, says Allahabad Bank’s SS Mallikarjuna Rao

After valuation we were thinking of diluting the stake. But in the meantime there were some developments. In February we got capital from the government and our bank came out of the RBI’s PCA framework.

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India’s biggest brands: HDFC Bank retains top rank for sixth time in a row

The BrandZ Top 75 Most Valuable Indian Brands ranking is based on market data from Bloomberg, consumer insights from around 3.7 million consumers globally, and includes opinions from around one lakh Indian consumers on 1,000 brands in 80 categories.

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PMC Bank’s Rs 2,500 crore exposure to HDIL was in excess of RBI norms

He further said that the bank had sought time for a resolution plan, which the ED had agreed to, while also saying that the RBI would conduct a normal inspection which was also due

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Expect cabinet nod for all bank mergers will happen simultaneously, says Allahabad Bank’s SS Mallikarjuna Rao

After valuation we were thinking of diluting the stake. But in the meantime there were some developments. In February we got capital from the government and our bank came out of the RBI’s PCA framework.

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India’s biggest brands: HDFC Bank retains top rank for sixth time in a row

The BrandZ Top 75 Most Valuable Indian Brands ranking is based on market data from Bloomberg, consumer insights from around 3.7 million consumers globally, and includes opinions from around one lakh Indian consumers on 1,000 brands in 80 categories.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2mrV5Ns

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PMC Bank’s Rs 2,500 crore exposure to HDIL was in excess of RBI norms

He further said that the bank had sought time for a resolution plan, which the ED had agreed to, while also saying that the RBI would conduct a normal inspection which was also due

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Expect cabinet nod for all bank mergers will happen simultaneously, says Allahabad Bank’s SS Mallikarjuna Rao

After valuation we were thinking of diluting the stake. But in the meantime there were some developments. In February we got capital from the government and our bank came out of the RBI’s PCA framework.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2mrHF4f

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India’s biggest brands: HDFC Bank retains top rank for sixth time in a row

The BrandZ Top 75 Most Valuable Indian Brands ranking is based on market data from Bloomberg, consumer insights from around 3.7 million consumers globally, and includes opinions from around one lakh Indian consumers on 1,000 brands in 80 categories.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2mrV5Ns

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PMC Bank’s Rs 2,500 crore exposure to HDIL was in excess of RBI norms

He further said that the bank had sought time for a resolution plan, which the ED had agreed to, while also saying that the RBI would conduct a normal inspection which was also due

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Expect cabinet nod for all bank mergers will happen simultaneously, says Allahabad Bank’s SS Mallikarjuna Rao

After valuation we were thinking of diluting the stake. But in the meantime there were some developments. In February we got capital from the government and our bank came out of the RBI’s PCA framework.

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PMC Bank’s Rs 2,500 -crore exposure to HDIL was in excess of RBI norms: Suspended chief

He further said that the bank had sought time for a resolution plan, which the ED had agreed to, while also saying that the RBI would conduct a normal inspection which was also due

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Expect cabinet nod for all bank mergers will happen simultaneously, says Allahabad Bank’s SS Mallikarjuna Rao

After valuation we were thinking of diluting the stake. But in the meantime there were some developments. In February we got capital from the government and our bank came out of the RBI’s PCA framework.

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ManipalCigna Health partners with IIFL Wealth

To provide global health over for latter's net-worth customers.

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RBI allows PMC Bank customers to withdraw up to Rs 10,000

Expects move will let more than 60% of depositors take out their entire balance.

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Liquidity not an issue, demand is picking up, says FM Sitharaman after meeting private banks’ top executives

Private consumption, the main engine of the economy, suffered a major blow with year-on-year growth of just 3.1%, the lowest since Q3FY15, and the government has now been striving to arrest the decline.

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RBI raises limit: PMC Bank depositors allowed to take out Rs 10,000

On Monday, the central bank had imposed a six-month ban on withdrawals of over Rs 1,000 as well as all lending and deposit-taking activity at the Mumbai-based cooperative bank.

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SBI: Moving to EW amid asset quality uncertainty

This would represent sharp improvement, but our confidence in these estimates is not very strong. There is a credit crunch going on in India among weaker-rated borrowers as flow of credit from challenged lenders has stalled.

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Non-food credit growth slips to 9.2 per cent, lowest in about 2 years

The overall liquidity in the banking system has been in surplus for more than three months, the CARE liquidity report said.

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Yes Bank’s promoter group cuts 1.8 per cent stake in bank

FE had earlier reported that Rana Kapoor will soon seek the Reserve Bank of India’s approval to sell his stake in Yes Bank to Canadian asset manager Brookfield.

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Liquidity not an issue, demand is picking up, says FM Sitharaman after meeting private banks’ top executives

Private consumption, the main engine of the economy, suffered a major blow with year-on-year growth of just 3.1%, the lowest since Q3FY15, and the government has now been striving to arrest the decline.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2m9P9Zx

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RBI raises limit: PMC Bank depositors allowed to take out Rs 10,000

On Monday, the central bank had imposed a six-month ban on withdrawals of over Rs 1,000 as well as all lending and deposit-taking activity at the Mumbai-based cooperative bank.

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SBI: Moving to EW amid asset quality uncertainty

This would represent sharp improvement, but our confidence in these estimates is not very strong. There is a credit crunch going on in India among weaker-rated borrowers as flow of credit from challenged lenders has stalled.

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Non-food credit growth slips to 9.2 per cent, lowest in about 2 years

The overall liquidity in the banking system has been in surplus for more than three months, the CARE liquidity report said.

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Yes Bank’s promoter group cuts 1.8 per cent stake in bank

FE had earlier reported that Rana Kapoor will soon seek the Reserve Bank of India’s approval to sell his stake in Yes Bank to Canadian asset manager Brookfield.

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RBI data shows bank credit grows by 10.26%, deposits 10.02%

In the previous fortnight ended August 30, 2019, bank loans increased by 10.24 per cent to Rs 96.80 lakh crore and deposits by 9.73 per cent to Rs 127.80 lakh crore. In July, the non-food bank credit increased by 11.4 per cent on year-on-year (y-o-y) basis, as compared with an growth of 10.6 per cent in July 2018.

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PMC crisis: RBI raises withdrawal cap to Rs 10,000 in 6 months

The RBI had Tuesday imposed a slew of restrictions on PMC Bank after finding many irregularities in its books, including massive under-reporting of NPAs. The lender is not allowed to offer new loans or accept deposits.

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Liquidity not an issue, demand is picking up, says FM Sitharaman after meeting private banks’ top executives

Private consumption, the main engine of the economy, suffered a major blow with year-on-year growth of just 3.1%, the lowest since Q3FY15, and the government has now been striving to arrest the decline.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2m9P9Zx

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RBI raises limit: PMC Bank depositors allowed to take out Rs 10,000

On Monday, the central bank had imposed a six-month ban on withdrawals of over Rs 1,000 as well as all lending and deposit-taking activity at the Mumbai-based cooperative bank.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2n6lP65

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SBI: Moving to EW amid asset quality uncertainty

This would represent sharp improvement, but our confidence in these estimates is not very strong. There is a credit crunch going on in India among weaker-rated borrowers as flow of credit from challenged lenders has stalled.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2m4fJTO

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Non-food credit growth slips to 9.2 per cent, lowest in about 2 years

The overall liquidity in the banking system has been in surplus for more than three months, the CARE liquidity report said.

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

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Yes Bank’s promoter group cuts 1.8 per cent stake in bank

FE had earlier reported that Rana Kapoor will soon seek the Reserve Bank of India’s approval to sell his stake in Yes Bank to Canadian asset manager Brookfield.

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

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RBI data shows bank credit grows by 10.26%, deposits 10.02%

In the previous fortnight ended August 30, 2019, bank loans increased by 10.24 per cent to Rs 96.80 lakh crore and deposits by 9.73 per cent to Rs 127.80 lakh crore. In July, the non-food bank credit increased by 11.4 per cent on year-on-year (y-o-y) basis, as compared with an growth of 10.6 per cent in July 2018.

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PMC crisis: RBI raises withdrawal cap to Rs 10,000 in 6 months

The RBI had Tuesday imposed a slew of restrictions on PMC Bank after finding many irregularities in its books, including massive under-reporting of NPAs. The lender is not allowed to offer new loans or accept deposits.

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

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RBI data shows bank credit grows by 10.26%, deposits 10.02%

In the previous fortnight ended August 30, 2019, bank loans increased by 10.24 per cent to Rs 96.80 lakh crore and deposits by 9.73 per cent to Rs 127.80 lakh crore. In July, the non-food bank credit increased by 11.4 per cent on year-on-year (y-o-y) basis, as compared with an growth of 10.6 per cent in July 2018.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2mV1ReM

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PMC crisis: RBI raises withdrawal cap to Rs 10,000 in 6 months

The RBI had Tuesday imposed a slew of restrictions on PMC Bank after finding many irregularities in its books, including massive under-reporting of NPAs. The lender is not allowed to offer new loans or accept deposits.

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

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Indian eco to recover from late FY20: Report

The Indian economy is expected to start its recovery from later part of this fiscal thanks to the initiatives taken by the Reserve Bank for policy rate transmission and steps by the government to boost growth, says a report. According to D&B Economy Observer report, a pick-up in the industrial production will only be gradual and an uptick is expected to be visible during the festive months of September and October 2019.

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A cooperative run by RBI officers is stuck in the middle of the PMC bank snafu

The Reserve Bank of India Officers' Co-op Credit Society, the report claims, has its biggest FD with PMC Bank.

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IL&FS approaches NCLAT seeking release of Rs 145 cr held by Gujarat discom

A two-member NCLAT bench headed by Chairperson Justice S J Mukhopadhaya has issued notice to the Gujarat Urja Vikas Nigam over the IL&FS plea.

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RBIs restriction on PMC bank EXPLAINED; here’s why customers can’t withdraw more than Rs 1,000

The bank came under RBI’s scanner after irregularities were disclosed. RBI’s current restrictions on the bank will be in force for six months.

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RBIs restriction on PMC bank EXPLAINED; here’s why customers can’t withdraw more than Rs 1,000

The bank came under RBI’s scanner after irregularities were disclosed. RBI’s current restrictions on the bank will be in force for six months.

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PMC says it has enough liquidity, depositors’ money fully safe

Allaying fears of its depositors and customers, Punjab & Maharashtra Cooperative Bank (PMC), which is under RBI management now, said that it has

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RBIs restriction on PMC bank EXPLAINED; here’s why customers can’t withdraw more than Rs 1,000

The bank came under RBI’s scanner after irregularities were disclosed. RBI’s current restrictions on the bank will be in force for six months.

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

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RBIs restriction on PMC bank EXPLAINED; here’s why customers can’t withdraw more than Rs 1,000

The bank came under RBI’s scanner after irregularities were disclosed. RBI’s current restrictions on the bank will be in force for six months.

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

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Stringent deadline for states to make subsidy payment on time soon: Ashish Bhutani, PMFBY CEO

BL Research BureauThere has been a severe criticism on the Prime Minister’s flagship crop insurance scheme – PM Fasal Bima Yojana (PMFBY) since its la

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RBIs restriction on PMC bank EXPLAINED; here’s why customers can’t withdraw more than Rs 1,000

The bank came under RBI’s scanner after irregularities were disclosed. RBI’s current restrictions on the bank will be in force for six months.

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

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Kristalina Georgieva named IMF managing director

The International Monetary Fund (IMF) on Wednesday formally selected Kristalina Georgieva of Bulgaria to be only the second woman to lead the 189-member institution. The selection had been all but guaranteed after the global crisis lender said earlier this month that Georgieva, a former World Bank CEO, was the sole candidate.

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ADB cuts India's growth estimate to 6.5% in '19-20

The Asian Development Bank (ADB) on Wednesday revised its outlook for India's economy. Growth is now expected at 6.5% in fiscal 2019-20, following weaker expansion in the first quarter of the year, with slower growth in consumption and investment affecting the manufacturing and service sectors.

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IMF elects Bulgaria’s Kristalina Georgieva as new chief

First leader from an emerging market to hold the position

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Maharashtra banks to closely monitor transactions

As part of precautions and measures for the upcoming State Assembly elections, banks in Maharashtra will closely monitor and report cash deposits and

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RBI officers’ co-op society has Rs 105-cr fixed deposit with PMC Bank

It is not just the common man's hard-earned money that is stuck in the troubled Punjab and Maharashtra Co-operative (PMC) Bank, but that of Reserve Ba

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Sensex surges over 400 points; bank stocks rally

Equity benchmark BSE sensex rallied over 400 points in early session on Thursday, led by gains in banking stocks, tracking positive cues from global markets.

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Depositors' money fully safe, says PMC Bank

Allaying fears of the depositors and customers, PMC Bank, which is under RBI management now, said it has enough liquidity to meet all liabilities and every penny of the public is secure. The regulator has capped cash withdrawal at Rs 1,000 per customer during this period and also banned the bank from any fresh lending during this period.

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PMC fiasco: RBI's norms were aimed to help cooperative banks become more professional, expand operations

It could also help them turn into small finance banks.

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Axis Bank QIP oversubscribed, raises Rs 12,500 cr

Private sector lender, Axis Bank, on Thursday said its qualified institutional placement was over-subscribed, with the aggregate final transaction siz

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PSBs’ profitability and return on assets to continue to lag in FY20: Icra

As the fresh slippages remain high during FY20 also, Icra expects the credit loss provisioning for PSBs to remain high at 2.4% of their advances, even though it will be lower than 4.3% during FY19.

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NBFCs will have to shed assets over the next one year: Edelweiss Group chairman and CEO Rashesh Shah

This would be achieved through models like co-origination of loans, where banks would bring in much of the funds to be lent, while NBFCs would use their distribution capabilities to source the loans.

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Yes Bank seeks RBI nod for hike in authorised share capital

Of the Rs 1,100 crore, Rs 900 crore would be in the form of equity shares and Rs 200 crore in the form of preference shares.

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RBI denies rumours of bank closures

It also asked people to withdraw their money if anybody was having transactions with Corporation Bank, UCO Bank, IDBI, Bank of Maharashtra, Andhra Bank, Indian Overseas Bank, Central Bank of India, Dena Bank and United Bank of India.

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Amid PMC Bank chaos, a look at surging NPAs; cooperative banks surrounded by bad loans

The scenario is worse for rural cooperative banks, which account for around two-thirds of the total asset size of all cooperative banks taken together.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2mwWBh5

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IDBI Bank to sell 20 bad loans worth nearly Rs 10,000 cr

IDBI Bank has identified 20 bad loans worth nearly Rs 10,000 crore, which it plans to sell, as it tries to improve its recovery.“IDBI Bank intends to

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

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OlaMoney and Religare Health launch hospital cash cover, starting at ₹3 per day

Unlike traditional health insurance policies this cover can be used to reimburse expenses incurred at any hospital across India.

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Amid PMC Bank chaos, a look at surging NPAs; cooperative banks surrounded by bad loans

The scenario is worse for rural cooperative banks, which account for around two-thirds of the total asset size of all cooperative banks taken together.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2mwWBh5

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Bank loans contract for second time in two years this August

NBFC lending has dipped last September after the crisis at infra-lender IL& FS was unearthed.

from Banking/Finance-Industry-Economic Times https://ift.tt/2l7fw1M

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RBI denies social media rumours of banks closure

Reserve Bank of India (RBI) has been quick to issue a clarification denying rumours on social media that more banks are in trouble.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2lBY5Xh

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RBI rebuts social media rumours on closure of 9 banks

Messages on social media platforms stated that nine banks will be closed down permanently by the RBI.

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RBI rebuts social media rumours on closure of 9 banks

Rebutting social media rumours swiftly, the Reserve Bank of India (RBI) on Wednesday said no commercial banks are going to be shut. Finance secretary Rajiv Kumar discribed such social media messages as "mischievous" saying the government was in process of strengthening public sector banks by infusing capital in them.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2naL5Zj

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How a single account pulled down 35-year-old PMC bank

RBI yesterday put a slew of restrictions on the bank for six months citing several regulatory lapses.

from Banking/Finance-Industry-Economic Times https://ift.tt/2kZpm5L

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Amid PMC Bank chaos, a look at surging NPAs; cooperative banks surrounded by bad loans

The scenario is worse for rural cooperative banks, which account for around two-thirds of the total asset size of all cooperative banks taken together.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2mwWBh5

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Amid PMC Bank chaos, a look at surging NPAs; cooperative banks surrounded by bad loans

The scenario is worse for rural cooperative banks, which account for around two-thirds of the total asset size of all cooperative banks taken together.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2mwWBh5

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OTO Capital launches ‘My OMI Plan’ for two-wheeler purchases

Customers can get instant loan under 30-minutes under the plan

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

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Amid PMC Bank chaos, a look at surging NPAs; cooperative banks surrounded by bad loans

The scenario is worse for rural cooperative banks, which account for around two-thirds of the total asset size of all cooperative banks taken together.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2mwWBh5

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Not at all related to PMC Bank: PNB

Punjab National Bank (PNB) on Wednesday informed its customers that it is not related to the troubled Mumbai-based Punjab and Maharashtra Co-operative

from Business Line - Money & Banking https://ift.tt/2n2dKPX

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FE Best Bank Awards: Know who is the nominee for lifetime achievements award

Sobti’s now loaning money to microfinance borrowers for a television set or some household product. “She has borrowed twice and repaid the loans so now I can finance a TV,” he points out.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2luR76f

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Financial services sector biggest beneficiary from corporate tax cut: study

The industry would be savings of ₹41,555 crore, says CARE Ratings

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Premium rates under PM Fasal Bima Yojana continue to rise, pinching farmers and the govt

Insurance companies say changing guidelines under PMFBY have increased their costs

from Business Line - Money & Banking https://ift.tt/2lnkk3i

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FE Best Bank Awards: Know who is the nominee for lifetime achievements award

Sobti’s now loaning money to microfinance borrowers for a television set or some household product. “She has borrowed twice and repaid the loans so now I can finance a TV,” he points out.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2luR76f

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FE Best Bank Awards: Know who is the nominee for lifetime achievements award

Sobti’s now loaning money to microfinance borrowers for a television set or some household product. “She has borrowed twice and repaid the loans so now I can finance a TV,” he points out.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2luR76f

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FE Best Bank Awards: Know who is the nominee for lifetime achievements award

Sobti’s now loaning money to microfinance borrowers for a television set or some household product. “She has borrowed twice and repaid the loans so now I can finance a TV,” he points out.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2luR76f

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RBI places curbs on Punjab and Maharashtra Cooperative Bank for six months

The RBI said that depositors with the Punjab and Maharashtra Cooperative Bank will not be allowed to withdraw more than Rs 1,000 from their accounts for the next six months.

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Credit crunch: NBFCs to sacrifice profitability to survive via co-lending model

Industry executives say that non-banks could be reduced to being “sourcing agents” for banks, relying on fee income more than interest income.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2mr094u

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How do we survive on ₹1,000?: PMC Bank customers

Hundreds of customers were left in the lurch after the RBI put withdrawal limits on Mumbai-based PMC Bank. From retired account holders to those savin

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FE Best Banks Awards: Sanjiv Bajaj – A Bajaj you can bank on

But since he couldn’t launch one, he came up with the EMI card which today is a franchise with 16.5 million customers; in 2018-19, the EMI card contributed about 60% of the loans.

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

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SBI to link mid-size loans to repo rate from October 1

It also stated it was voluntarily extending the facility of external benchmark-linked rate based lending to medium enterprises in a bid to “boost lending” to the MSME sector as a whole.

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

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Mega bank merger: Indian Bank, Allahabad Bank confident of growth

Addressing the gathering, Indian Bank MD & CEO Padmaja Chunduru expressed confidence that the amalgamation will open up new vistas of growth.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2l8K42Y

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Canara Bank to sell full stake in Commonwealth Trust India

The bank reported a profit after tax (PAT) of Rs 329 crore in Q1FY20 on a total asset base of Rs 6.94 lakh crore as on June 30, 2019 against a PAT of Rs 281 crore in Q1FY19.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2kEdS7z

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FE Best Banks Awards: Sanjiv Bajaj – A Bajaj you can bank on

But since he couldn’t launch one, he came up with the EMI card which today is a franchise with 16.5 million customers; in 2018-19, the EMI card contributed about 60% of the loans.

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

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Lending push: SBI to link mid-sized loans to repo rate from October 1

It also stated it was voluntarily extending the facility of external benchmark-linked rate based lending to medium enterprises in a bid to “boost lending” to the MSME sector as a whole.

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

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Mega bank merger: Indian Bank, Allahabad Bank confident of growth

Addressing the gathering, Indian Bank MD & CEO Padmaja Chunduru expressed confidence that the amalgamation will open up new vistas of growth.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2l8K42Y

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Canara Bank to sell full stake in Commonwealth Trust India

The bank reported a profit after tax (PAT) of Rs 329 crore in Q1FY20 on a total asset base of Rs 6.94 lakh crore as on June 30, 2019 against a PAT of Rs 281 crore in Q1FY19.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2kEdS7z

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FE Best Banks Awards: Sanjiv Bajaj – A Bajaj you can bank on

But since he couldn’t launch one, he came up with the EMI card which today is a franchise with 16.5 million customers; in 2018-19, the EMI card contributed about 60% of the loans.

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

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Lending push: SBI to link mid-sized loans to repo rate from October 1

It also stated it was voluntarily extending the facility of external benchmark-linked rate based lending to medium enterprises in a bid to “boost lending” to the MSME sector as a whole.

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

Read more »

Mega bank merger: Indian Bank, Allahabad Bank confident of growth

Addressing the gathering, Indian Bank MD & CEO Padmaja Chunduru expressed confidence that the amalgamation will open up new vistas of growth.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2l8K42Y

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Canara Bank to sell full stake in Commonwealth Trust India

The bank reported a profit after tax (PAT) of Rs 329 crore in Q1FY20 on a total asset base of Rs 6.94 lakh crore as on June 30, 2019 against a PAT of Rs 281 crore in Q1FY19.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2kEdS7z

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FE Best Banks Awards: Sanjiv Bajaj – A Bajaj you can bank on

But since he couldn’t launch one, he came up with the EMI card which today is a franchise with 16.5 million customers; in 2018-19, the EMI card contributed about 60% of the loans.

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

Read more »

Lending push: SBI to link mid-sized loans to repo rate from October 1

It also stated it was voluntarily extending the facility of external benchmark-linked rate based lending to medium enterprises in a bid to “boost lending” to the MSME sector as a whole.

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

Read more »

Mega bank merger: Indian Bank, Allahabad Bank confident of growth

Addressing the gathering, Indian Bank MD & CEO Padmaja Chunduru expressed confidence that the amalgamation will open up new vistas of growth.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2l8K42Y

Read more »

Canara Bank to sell full stake in Commonwealth Trust India

The bank reported a profit after tax (PAT) of Rs 329 crore in Q1FY20 on a total asset base of Rs 6.94 lakh crore as on June 30, 2019 against a PAT of Rs 281 crore in Q1FY19.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2kEdS7z

Read more »

FE Best Banks Awards: Sanjiv Bajaj – A Bajaj you can bank on

But since he couldn’t launch one, he came up with the EMI card which today is a franchise with 16.5 million customers; in 2018-19, the EMI card contributed about 60% of the loans.

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

Read more »

Lending push: SBI to link mid-sized loans to repo rate from October 1

It also stated it was voluntarily extending the facility of external benchmark-linked rate based lending to medium enterprises in a bid to “boost lending” to the MSME sector as a whole.

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

Read more »

Mega bank merger: Indian Bank, Allahabad Bank confident of growth

Addressing the gathering, Indian Bank MD & CEO Padmaja Chunduru expressed confidence that the amalgamation will open up new vistas of growth.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2l8K42Y

Read more »

Canara Bank to sell full stake in Commonwealth Trust India

The bank reported a profit after tax (PAT) of Rs 329 crore in Q1FY20 on a total asset base of Rs 6.94 lakh crore as on June 30, 2019 against a PAT of Rs 281 crore in Q1FY19.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2kEdS7z

Read more »

FE Best Banks Awards: Sanjiv Bajaj – A Bajaj you can bank on

But since he couldn’t launch one, he came up with the EMI card which today is a franchise with 16.5 million customers; in 2018-19, the EMI card contributed about 60% of the loans.

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

Read more »

Lending push: SBI to link mid-sized loans to repo rate from October 1

It also stated it was voluntarily extending the facility of external benchmark-linked rate based lending to medium enterprises in a bid to “boost lending” to the MSME sector as a whole.

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

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Good news! Unions call-off bank strike; lenders to remain open on these days

September Bank strike called-off: Bank officers have called-off their proposed two-day strike that would have affected the banking operations for four days.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2mt1Q1d

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Pine Labs ties up with Federal Bank to offer debit card EMIs

Pine Labs, a merchant-focussed company, has entered into a strategic alliance with Federal Bank, a private sector bank, to offer equated monthly insta

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

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RBI committee recommendations to be credit positive for RMBS

The report also recommended specific measures for facilitating secondary market trading in mortgage securitisation instruments.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2m9bFBb

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ICICI Bank to set up 450 new branches this fiscal

In the past few years, the bank has seen that the nature of business at branches has evolved and customers are now more keen to seek advice and guidance from branches for complex transactions, loans and investments.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/31Ff1Mi

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Corporate Tax Cut: PNB Housing Finance’s effective tax rate to come down by 8-9 per cent points

The effective tax rate for domestic companies reduced to 25.17 per cent from 34.94 per cent inclusive of surcharge and cess.

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

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PSB strike, weekend to hamper cash withdrawals

A strike called by state-run lenders' unions against the mega PSB merger will commence on September 26, Thursday, and end on September 27, Friday.

from Banking/Finance-Industry-Economic Times https://ift.tt/2mdn1UP

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ICICI Bank to set up 450 new branches this fiscal

Another set of 130 branches will also be customer-ready by the end of the current financial year

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

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Indian Bank initiates employees on merger with Allahabad Bank

Sitharaman on August 30 announced the amalgamation of 10 public sector banks into four big banks bringing down the total number of Public Sector Banks in the country to 12.

from Banking/Finance-Industry-Economic Times https://ift.tt/2m4ARsK

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Corp tax cut: PNB Housing Fin's effective tax rate to come down by 8-9% points

The company's effective tax rate will come down following the government's decision to slash corporate tax rate.

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

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Will the RBI cut rates after the Centre’s big stimulus?

While domestic inflation and growth trends offer headroom for cuts, fiscal expansion is a dampener

from Business Line - Money & Banking https://ift.tt/30eOvwG

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ICICI Bank to set up 450 new branches this fiscal

Of these, the bank has made 320 branches operational for customers and in the process, it has crossed the milestone of having 5,000 branches.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Ijs4eN

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ICICI Bank eyes 450 retail branches this fiscal

The bank has crossed the milestone of 5,000 retail branches recently

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Punjab & Sind Bank reports its exposure to Era Infra as fraud

Punjab & Sind Bank has reported the loan account of Era Infra Engineering Ltd as fraud to the Reserve Bank of India. The public sector bank, in a

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Corporate tax cuts to boost capital base of banks, NBFCs

A number of banks, NBFCs and housing finance companies could see an improvement in their capital base and return on assets with the recent cuts in cor

from Business Line - Money & Banking https://ift.tt/31KtQx0

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Airtel, Bharti AXA Life tie up to offer pre-paid plan with term cover

Introduces term insurance to customers aged 18-54 years without paperwork or medical examination.

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SBI to adopt RBI's repo rate as external benchmark

Leaving the options to banks, the RBI said banks are free to offer such external benchmark linked loans to other types of borrowers as well.

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

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All SBI floating rate loans to be linked with repo rate from October 1

State Bank of India (SBI) on Monday said it will adopt repo rate as the external benchmark for all floating rate loans for MSME, home and retail loans, from October 1, 2019. On September 4, the RBI had mandated all banks to link all new floating rate personal or retail loans and floating rate loans to micro, small and medium enterprises (MSMEs) to an external benchmark from October 1 onwards.

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SBI adopts repo rate as external benchmark for floating rate loans

State Bank of India (SBI) has decided to adopt repo rate as the external benchmark for all floating rate loans for MSME, housing and retail loans.This

from Business Line - Money & Banking https://ift.tt/30KCydo

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FE Best Banks: The jury is in, the countdown begins

For 2017-18, the members felt Bajaj Finance was the deserving candidate at a time when the sector has been going through severe stress.

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

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Financial services providers likely to be brought under insolvency code ambit

MCA in talks with the Reserve Bank to devise separate framework to bring NBFCs under the insolvency process

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FE Best Banks: The jury is in, the countdown begins

For 2017-18, the members felt Bajaj Finance was the deserving candidate at a time when the sector has been going through severe stress.

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

Read more »

FE Best Banks: The jury is in, the countdown begins

For 2017-18, the members felt Bajaj Finance was the deserving candidate at a time when the sector has been going through severe stress.

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

Read more »

FE Best Banks: The jury is in, the countdown begins

For 2017-18, the members felt Bajaj Finance was the deserving candidate at a time when the sector has been going through severe stress.

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

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FE Best Banks: The jury is in, the countdown begins

For 2017-18, the members felt Bajaj Finance was the deserving candidate at a time when the sector has been going through severe stress.

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

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FE Best Banks: The jury is in, the countdown begins

For 2017-18, the members felt Bajaj Finance was the deserving candidate at a time when the sector has been going through severe stress.

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

Read more »

FE Best Banks: The jury is in, the countdown begins

For 2017-18, the members felt Bajaj Finance was the deserving candidate at a time when the sector has been going through severe stress.

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

Read more »

FE Best Banks: The jury is in, the countdown begins

For 2017-18, the members felt Bajaj Finance was the deserving candidate at a time when the sector has been going through severe stress.

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

Read more »

FE Best Banks: The jury is in, the countdown begins

For 2017-18, the members felt Bajaj Finance was the deserving candidate at a time when the sector has been going through severe stress.

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

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SBI likely to soon launch co-lending model with mid to large-sized NBFCs

Now, integration of technology of both the bank and NBFCs is underway," Varma said. He said the co-lending model would help the bank to meet the priority sector lending target.

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

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SBI likely to soon launch co-lending model with mid to large-sized NBFCs

Now, integration of technology of both the bank and NBFCs is underway," Varma said. He said the co-lending model would help the bank to meet the priority sector lending target.

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

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SBI likely to soon launch co-lending model with mid to large-sized NBFCs

Now, integration of technology of both the bank and NBFCs is underway," Varma said. He said the co-lending model would help the bank to meet the priority sector lending target.

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

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SBI likely to soon launch co-lending model with mid to large-sized NBFCs

Now, integration of technology of both the bank and NBFCs is underway," Varma said. He said the co-lending model would help the bank to meet the priority sector lending target.

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

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RBI approves reappointment of Shyam Srinivasan as Federal Bank CEO

The Reserve Bank of India has approved the re-appointment of Shyam Srinivasan as the Managing Director and CEO of Federal Bank for another year, givin

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Altico Capital holds meetings with creditors for resolution

Altico Capital, which is reeling under a liquidity crisis and a weak real estate market, on Sunday said it has held a series of meetings with its cred

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SBI to roll out co-lending model with 4-5 NBFCs

Once the present hurdles relating to the integration of technology with the non-banking finance companies (NBFCs) are removed, the model of co-lending will be launched, an official said.

from Banking/Finance-Industry-Economic Times https://ift.tt/351oUWU

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Telangana stares at Rs 1.43 lakh cr public debt as on FY18: CAG

The CAG also expressed concern that the interest payments by the government were higher at 12.19% against the target of 8.31% fixed by the 14th Finance Commission.

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

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HDFC Bank to hold 1,000 grameen loan melas over next 6 months

The loan melas will serve as a platform to educate the local populace about banking services.

from Banking/Finance-Industry-Economic Times https://ift.tt/30gaGT1

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Non-life insurers register 17% rise in Aug new premium income at Rs 15,964 cr

The 34 insurers' gross premium collection stood at Rs 13,657.51 crore in the same month a year ago.

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

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No concern to asset quality post UBI, OBC merger: PNB CEO

The merged entity will be operational from April 2020.

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

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HDFC Bank to organise 1,000 grameen loan melas

To cover over 6,000 villages

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