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Saturday, October 19, 2019

DCB Bank profit rises 24 per cent to Rs 91 crore in Q2

Total income in the July-September period increased to Rs 980.59 crore

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LIC Housing Finance net profit up 35 per cent on lower tax expenses

Total disbursements were down 15 per cent YoY to Rs 12,173

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HDFC Bank Q2 net profit up 26.8 per cent

The net NPAs also rose marginally to Rs 3,790.95 crore

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Maharashtra govt will explore option of PMC bank merger: Fadnavis

The Maharashtra government will explore possibility of merging crisis-hit PMC Bank with other bank, chief minister Devendra Fadnavis has said. "Unfortunately, a revival package for PMC bank is not in jurisdiction of the state government, but with the RBI. But, the state government can facilitate merger of the bank with other bank," Fadnavis said.

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DHFL crisis: SBI, BoB, UBI to move HC seeking rights to pool repayments

On Wednesday, UBI managing director and CEO Rajkiran Rai G had told reporters the court-mandated moratorium on repayments was a temporary one and banks would soon present their arguments to the HC.

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ED searches DHFL offices over exposure to firm having links with gangster Mirchi

In a report by The Economic Times, the troubled mortgage lender's links with Sunblink Real Estate have come to the fore. The ED has not named DHFL but documents reviewed by this paper showed Sunblink exposure adds up to Rs 2,186 crore.

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Reliance Home Finance promoter group acquires 1.67 per cent stake in co

The promoter group of Reliance Home Finance Ltd has acquired a 1.67 per cent stake in the company through 'reversal of invocation of equity shares'. T

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ED arrests HDIL promoters on money laundering charges

HDIL promoters Rakesh and Sarang Wadhawan were arrested on Friday after PMLA court sent them to Enforcement Directorate custody till October 22. The Economic Offence Wing tracked the prima facie execution of illegal transactions by the said persons.

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Brokerages expect HDFC Bank to report PAT growth of 20 per cent

 HDFC Bank,one of the consistent performers will declare their quarterly results on later in the day. The stock has been outperforming the index on al

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DHFL exposure: RBI rejects banks’ ‘Trust’ proposal

In what comes as a blow to lenders, the RBI has declined a proposal by banks that would have granted them relief from making provisions for the troubled mortgage lender DHFL to which banks have an exposure of Rs 40,000 crore.

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Friday, October 18, 2019

ICICI Lombard net up 5%

Private sector ICICI Lombard General Insurance posted a 5 per cent increase in net profit at ₹307.91 crore in the second quarter of the fiscal. It ha

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Rajnish Kumar elected IBA chief

SBI Chairman Rajnish Kumar was elected Chairman of Indian Banks’Association (IBA) by its managing committee on Friday for 2019-20. The committee also

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‘Slowdown, weak consumer sentiment prompted the RBI to cut rate by 25 bps’

Experts see space for further cut in repo rate to boost domestic growth

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L&T Finance Q2 net declines 69%

Our BureauThe consolidated net profit of diversified non-banking finance company L&T Finance Holdings fell 68.7 per cent to ₹174.51 crore in the s

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OPINION | FRDI Bill: New version must ensure adequate protection of bank deposits

Modi government may revive the FRDI Bill as India's faith in banks is shaken by the PMC Bank crisis.

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PMC Bank crisis: Setback for depositors; SC refuses to entertain plea on lifting withdrawal limit

In a setback for depositors, Supreme Court on Friday refused to entertain the plea of PMC bank account holders seeking lifting of restriction on cash withdrawals.

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All-India bank strike called on October 22

Services may be hampered, while SBI said impact would be minimum as most of its employees are not members of the participating unions. Other banks such as Bank of Maharashtra and Syndicate Bank have expressed concerns over providing customer services.

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BankEdge plans to add 85 centres to train 50,000 students

BankEdge, one of the most economical banking and finance academies, plans to train 50,000 students over next four years to enable them to become bank

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Grab what you can in India’s bad loan melee

Snatch-and-grab is the new hallmark of Indian finance. As a banker friend in Mumbai put it to me only half-jokingly, a unit of “grabbed” cash collater

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PMC Bank case: Depositors body seeks to raise withdrawal limit to ₹1 lakh

The All India Bank Depositors' Association also suggests creation of a special line of credit by DICGC to enable higher withdrawals.

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PMC Bank crisis: Supreme Court refused to entertain PMC account holders’ plea

The account holders approached the SC to direct RBI to lift restrictions on cash withdrawals

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Job reduction in Indian ops will be limited: Stuart Lewis, Chief risk officer, Deutsche Bank AG | Interview

Retail banking remains an area of focus as does private banking. The final component of the strategy is the asset management business which is doing quite well. So it’s all going pretty much according to plan.

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South Indian Bank Q2 net rises 21%, NII improves

The provision coverage ratio improved to 48.07% from 41.86% a year ago. Mathew said the bank’s strategy of bringing down the corporate exposure and increasing the retail, MSME and agri portfolios has strengthened its balance sheet.

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Gruh Finance merger with Bandhan Bank completes

Shareholders of the Kolkata-headquartered bank had approved its proposed acquisition of Gruh Finance in July. About 99.36% shareholders of the lender, who had participated in the process, had voted in favour of the proposed “Scheme of Amalgamation”.

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Rs 10.5 crore cash missing from PMC records: Bank's internal investigation team

A new revelation has added big twist to PMC fraud. The bank learned of the missing Rs 10.5 crore cash only while the internal inquiry into the bank's financial transactions was being conducted on the orders of an RBI-appointed administrator.

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Sudhaker Shukla appointed as whole-time member of IBBI

The Appointments Committee of the Cabinet (ACC) has approved the appointment of Sudhaker Shukla as a Whole-Time Member of the Insolvency and Bankruptc

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Bank strike: Will it affect PSU banking operations?

The strike call was primarily issued to protest against the decision to merge ten public sector banks into four.

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Rs 10.5 crore cash missing from PMC records: Bank's internal investigation team

PMC Bank's internal investigation team has made a startling revelation: A total of Rs 10.5 crore cash is missing from the bank's records. The team has found multiple cheques issued by HDIL and its related entities which were never deposited with the bank and yet cash was handed over to them.

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IRDAI tightens advertisement norms for insurers

The success of insurance sales' communication depends on public confidence and the faith they repose in the insurers, says the regulator.

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View: Grab what you can in India’s bad loan melee

Not only is opportunistic behaviour going to worsen India’s $200 billion-plus bad loan crisis, but now that everyone from the government’s sleuths to the courts are joining the melee, the ensuing chaos will limit the recovery.

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Dewan Housing posts ₹224 crore loss in June quarter

Auditor raises significant doubt on its ability to continue as a going concern

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DHFL reports loss in the June quarter; auditor raises concerns

Newly appointed auditor KK Mankeshwar, stated that in respect of certain loans it was unable to obtain sufficient appropriate evidence to support the value of the loans

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UCBs with PMC Deposits must be given time for provisioning, NGO writes to FinMin

NGO Sahakar Bharti has written to the Finance Minister, urging the government to amend the Banking Regulation Act to provide full regulatory powers to Reserve Bank of India to regulate all UCBs — scheduled as non-scheduled banks.

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Thursday, October 17, 2019

IAG to sell entire 26% stake in SBI General Insurance

The country's largest lender and Insurance Australia Group (IAG) currently own 7O per cent and 26 per cent, respectively, in SBI General Insurance. The transactions are subject to regulatory processes and approvals.

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Govt expects NBFCs to lend more to fuel economic growth, says Anurag Thakur

Non Banking Finance Companies (NBFCs) should lend more and ensure further transmission of credit if the economy were to reach a $ 5 trillion level, An

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PMC Fallout: RBI 2017 order on disclosing deposit insurance cover being fully implemented by banks

Banks are now ensuring the implementation of a 2017 order by the Reserve Bank of India asking all scheduled commercial banks, all small finance banks

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RBI has opened its tap but liquidity is stuck in banks: Rashesh Shah

Rashesh Shah, Chairman & CEO, Edelweiss Group, is of the view that ‘exaggerated fear of the unknown’ has gripped the markets currently as doomsday

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Sell our assets to repay PMC Bank dues: Wadhawans

Promoters of real estate group HDIL, Rakesh and Sarang Wadhawan, who are the prime accused in the PMC Bank scam, have requested the RBI and investigation agencies to sell off their assets, including a yacht, a Rolls Royce and an aircraft, to pay off the bank's dues.

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Altico Capital submits resolution plan for full repayment over five years

Altico Capital, a non-banking finance company has proposed to repay their dues in full in a staggered manner over next five years to lenders after the steering committee led by SBI met the management.

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Perspective of a coin box on saving and investment

Saving is something we learn at a very young age, and investing is something we pick up along the way. It’s also something that most of us shy away from, due...

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Sell our assets to pay off PMC Bank's dues, Wadhawans write to RBI, agencies

The Wadhawans, who are the promoters of HDIL, have been accused of orchestrating the fraud at the Punjab and Maharashtra Cooperative Bank along with the bank's top management. The scam at the PMC Bank is worth Rs 4,355 crore.

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Lending to InvITs can improve infrastructure financing

RBI’s circular to allow banks to lend to InvITs gives a much needed fillip to infrastructure financing and can enable InvIT platforms to become more c

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PMC Depositors’ body to approach RBI seeking merger with a public sector bank

PMC needs to be saved because funds of cooperative credit societies are also deposited in the bank, said Vishwas Utagi.

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Public sector banks set to start doorstep banking

State-run banks are set to implement doorstep banking for consumers - including the facility to deposit and withdraw cash -making life easier for senior citizens and disabled. Initially, the facility will be available to senior citizens and the disabled. It will then be extended to other consumers who may have to pay a nominal fee in case they want to avoid a branch visit.

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IAG to exit SBI General Insurance, to divest stake to Premji Invest and Warburg Pincus Group

 Insurance Australia Group (IAG) is set to exit out of its joint venture in the private sector SBI General Insurance Company.Two this end, it has ente

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Vikram Akula faults conclusions of the 2015 Duflo-Banerjee study on microfinance

Microfinance poster-boy Vikram Akula has questioned the methods adopted by Esther Duflo and Abhijit Banerjee, Nobel Laureates in Economics for 2019,

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For no fault of theirs, PMC depositors may be in default

PMC bank depositors are in line to be classified as defaulters by credit information bureau if they fail to make payments towards their credit cards or loan repayments. In the past, RBI has relaxed rules around the classification of borrowers.

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Commercial credit falls 2.6% Q-o-Q in June qtr amid slowing economy and rising delinquencies

The NPA rate for NBFCs escalated to 5.9% for the quarter ended June 2019, from 4.4% in June 2018.

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PNB Housing Finance Q2 loan disbursements fall 35%; eyes Rs 10,000 crore via NCDs

The asset quality improved sequentially, with gross NPAs falling 12 bps to 0.73%.

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Federal Bank net profit rises 57% to Rs 416 crore

Total advances grew 15% y-o-y to Rs 1.16 lakh crore and total deposits rose over 18% to Rs 1.39 lakh crore.

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RBI extends restrictions over two Maharastra based cooperative banks

the Reserve Bank on Wednesday extended the restrictions on the banking operations of two Maharasthra based cooperative banks.

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DHFL lent Rs 2,186 crore to company under lens for Mirchi links, ED investigations reveal

Troubled NBFC, DHFL has emerged as the lender that funded Sunblink Real Estate, a company that is at the centre of a probe into the financial operations of late gangster Iqbal Memon. However, ED hasn’t named troubled the financier yet.

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Commercial credit falls 2.6% Q-o-Q in June qtr amid slowing economy and rising delinquencies

The NPA rate for NBFCs escalated to 5.9% for the quarter ended June 2019, from 4.4% in June 2018.

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PNB Housing Finance Q2 loan disbursements fall 35%; eyes Rs 10,000 crore via NCDs

The asset quality improved sequentially, with gross NPAs falling 12 bps to 0.73%.

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Federal Bank net profit rises 57% to Rs 416 crore

Total advances grew 15% y-o-y to Rs 1.16 lakh crore and total deposits rose over 18% to Rs 1.39 lakh crore.

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RBI extends restrictions over two Maharastra based cooperative banks

the Reserve Bank on Wednesday extended the restrictions on the banking operations of two Maharasthra based cooperative banks.

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Wednesday, October 16, 2019

Marsh India reaches in-principle pact to buy JLT Independent Insurance Brokers

Marsh India Insurance Brokers has reached an in-principle agreement to acquire JLT Independent Insurance Brokers.“The transaction, which is subject t

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Arundhati Bhattacharya calls for special cadre for compliance & risk management

Arundhati Bhattacharya's comments come at a time when banks' lending practices have been repeatedly put to question in many alleged scams, an increased attention from the regulator and investigating agencies and very high quantum of dud loans.

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IOB in pact with Magicbricks to e-auction over 500 properties in 14 cities

E-auction will be held on October 21 and October 30

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PMC Bank scam: Mumbai Police to investigate how RBI audit missed the fraud

The Mumbai Police will investigate as to how the Reserve Bank of India missed the ongoing at the PMC bank. Interacting with over 100 depositors of PMC

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Commercial credit growth registers a marked slowdown in Q1

The QoQ comparison indicates a 2.6 per cent decline in credit exposure in the quarter ending June 2019 over March 2019.

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Federal Bank Q2 net profit up 56%

Private sector lender Federal Bank net profit in the second quarter of the fiscal shot up by over 56 per cent to Rs 416.70 crore. Its net profit was ₹

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Why SBI Life has gained 5 per cent, despite sharp fall in net profit

While provision related to DHFL exposure has dragged earnings, SBI Life has reported strong growth in premiums and margins

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PMC case: Court extends custody of Waryam Singh, 2 others

The Economic Offences Wing (EOW) has been granted judicial custody of Waryam Singh, Chairman of PMC Bank, along with Rakesh and Sarang Wadhawan Chairm

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Indian public sector banks had "worst phase" under Manmohan Singh, Raghuram Rajan, says Nirmala Sitharaman

The Finance Minister while delivering a lecture at Columbia University's SIPA said that she respects former RBI governor Raghuram Rajan for his work but pointed out that loans were given based on phone calls during his tenure.

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Mastercard joins hands with MS Dhoni to build 'Team Cashless India'

The initiative is to bring consumers and merchants to the forefront of the digital payments dialogue.

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Aadhar Housing Finance hopeful of Rs 4,000 crore disbursements this fiscal

Expects business to pick up from this month, comfortable capital position under Blackstone

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PSBs had 'worst phase' under Manmohan, Rajan: FM

Finance minister Nirmala Sitharaman has said that the Indian public sector banks had the "worst phase" under the combination of former Prime Minister Manmohan Singh and Reserve Bank of India (RBI) governor Raghuram Rajan.

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JFTBU seeks white paper on previous bank mergers

The Joint Forum of Target Bank Unions (JFTBU) has asked the Central government to issue a white paper on the outcome of previous two bank mergers.Eka

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SBI seeks FinMin's intervention for DHFL resolution

India’s largest bank is said to have become apprehensive over a systemic risk if ongoing efforts to finalise the resolution plan for the indebted home financier do not go through.

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AU Small Finance Bank may appropriate amounts fro Altico’s FDs on maturity

As per the broadly agreed upon settlement terms, both parties have now agreed that AU can appropriate amounts as they become due and payable against the NBFC’s fixed deposit and no premature encashment will be made by the bank.

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RBI stops printing Rs 2,000 denomination notes

Reserve Bank of India has stopped printing Rs 2,000 denomination notes in a bid to address concerns over money laundering and fake currency notes in c

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SBI Life Insurance Q2 net profit down 48 per cent

SBI Life Insurance reported a 48.17 per cent drop in its net profit for the second quarter of the fiscal year at Rs 129.84 crore. The private sector l

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AU Small Finance Bank may appropriate amounts fro Altico’s FDs on maturity

As per the broadly agreed upon settlement terms, both parties have now agreed that AU can appropriate amounts as they become due and payable against the NBFC’s fixed deposit and no premature encashment will be made by the bank.

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The unsafe vaults: With the financial system hit by defaults, is it time to resurrect an old law?

The govt dropped a law aimed at dealing with the blow-up of financial services cos due to a misplaced campaign that depositors’ money would be used to bail out failed banks, but now is it time to bring it back to fire up the economic engine.

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AU Small Finance Bank may appropriate amounts fro Altico’s FDs on maturity

As per the broadly agreed upon settlement terms, both parties have now agreed that AU can appropriate amounts as they become due and payable against the NBFC’s fixed deposit and no premature encashment will be made by the bank.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/32jJX5a
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AU Small Finance Bank may appropriate amounts fro Altico’s FDs on maturity

As per the broadly agreed upon settlement terms, both parties have now agreed that AU can appropriate amounts as they become due and payable against the NBFC’s fixed deposit and no premature encashment will be made by the bank.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/32jJX5a
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RBI governor faces board queries on financial frauds

The external directors raised the issue at a time when the banking regulator is facing flak on social media, and facing the ire of depositors and financial market commentators. Questions have cropped up on the efficacy of its inspection.

from Banking/Finance-Industry-Economic Times https://ift.tt/2MkacD1
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AU Small Finance Bank may appropriate amounts fro Altico’s FDs on maturity

As per the broadly agreed upon settlement terms, both parties have now agreed that AU can appropriate amounts as they become due and payable against the NBFC’s fixed deposit and no premature encashment will be made by the bank.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/32jJX5a
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Tuesday, October 15, 2019

Will the end of LIBOR in 2021 have an impact on domestic banks, companies?

IBA sets up working group to study transition andassess impact

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Despite spike in inflation, analysts see RBI cutting rates in December

Official data shows consumer price inflation for September racing to 3.99 per cent, up from 3.3 per cent in August

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IOC to raise Rs 3000 cr via rupee denominated bond issue

Indian Oil Corp (IOC), the nation’s biggest oil firm, plans to raise Rs 3,000 crore in rupee borrowings this month to meet its general corporate fina

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Karnataka Bank Q2 net down 5% on higher provisioning

Our Bureau Karnataka Bank has registered a net profit of ₹105.91 crore in the second quarter of 2019-20, against a profit of ₹111.86 crore in the co

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Andhra Bank cuts MCLR for five tenors

Andhra Bank has reduced the Marginal Cost of Funds based Lending Rates (MCLR), with effect from October 15, 2019, across all five tenors - overnight,

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RBI on alert after counterfeit notes resurface

The Reserve Bank of India (RBI) is on alert after the National Investigation Agency (NIA) found fake currency notes in circulation. Sources said that

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AIBEA seeks FM intervention to expedite employee representative in public sector bank boards

The All India Bank Employees’ Association (AIBEA), the largest trade union of workmen employees in the banking sector, has urged the Finance Minister

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ICICI Bank introduces new fixed deposit scheme 'FD Health'

The new scheme offers the FD holder complimentary critical illness insurance

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Centre not keen on staff representatives on bank boards: AIBEA

The All India Bank Employees' Association (AIBEA) has written to Finance Minister Nirmala Sitharaman stating that the Central government does not want its representatives on the boards of public sector banks.

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NCLT pile-up may see cases settled outside IBC

With cases piling up in the National Company Law Tribunal, the government on Monday suggested to banks that smaller cases may be settled outside the ambit of the Insolvency and Bankruptcy Code while indicating that other options, including class-action suits, may be considered to prevent a single homebuyer or a debenture-holder from dragging a company into a resolution process.

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How will end of LIBOR impact domestic banks, companies?

IBA sets up working group to study transition, assess impact

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Outreach by banks: Loans of Rs 82,000 cr disbursed in just 9 days, says FM Sitharaman

Sitharaman said demand was visible and the effort through the loan outreach programme was to ensure that consumption should not be hit due to any perceived liquidity constraint.

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RBI slaps Rs 1 crore penalty on LVB, Rs 75 lakh fine on Syndicate Bank for violating norms

After considering reply of Lakshmi Vilas Bank to the notice and examination of additional submission, the RBI concluded that the aforesaid non-compliance warranted imposition of monetary penalty.

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HDFC cuts retail prime lending rate by 10 bps

The move comes at a time when a number of lenders have been reducing their rates, following a cumulative repo rate cut of 135 bps since February by the RBI.

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RBI raises withdrawal limit for PMC Bank depositors to Rs 40,000

The issue of depositors being denied access to their funds has led to widespread protests by them and has turned into something of a political hot potato ahead of the Assembly elections in Maharashtra.

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Securitisation transactions up 48% in H1: Crisil report

The ABS segment saw volume zooming 69%, aided by doubling in vehicle loan securitisation growth and continued expansion of the asset class base.

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Outreach by banks: Loans of Rs 82,000 cr disbursed in just 9 days, says FM Sitharaman

Sitharaman said demand was visible and the effort through the loan outreach programme was to ensure that consumption should not be hit due to any perceived liquidity constraint.

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RBI slaps Rs 1 crore penalty on LVB, Rs 75 lakh fine on Syndicate Bank for violating norms

After considering reply of Lakshmi Vilas Bank to the notice and examination of additional submission, the RBI concluded that the aforesaid non-compliance warranted imposition of monetary penalty.

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HDFC cuts retail prime lending rate by 10 bps

The move comes at a time when a number of lenders have been reducing their rates, following a cumulative repo rate cut of 135 bps since February by the RBI.

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RBI raises withdrawal limit for PMC Bank depositors to Rs 40,000

The issue of depositors being denied access to their funds has led to widespread protests by them and has turned into something of a political hot potato ahead of the Assembly elections in Maharashtra.

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Securitisation transactions up 48% in H1: Crisil report

The ABS segment saw volume zooming 69%, aided by doubling in vehicle loan securitisation growth and continued expansion of the asset class base.

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Despite defections, Facebook officially launches Libra

Facebook officially moved forward with its plans on Monday to create a new digital currency called Libra, despite several high-profile defections fro

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PMC showed funds siphoned off by HDIL promoters as loan, shows probe

Entire amount of over Rs 6,500 crore was withdrawn fraudulently using this modus operandi, said sources.

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Monday, October 14, 2019

Securitisation of assets by NBFCs and mortgage lenders surge 48% in the first half of the fiscal year

The volume grew to Rs 1 lakh crore as both established and new originators flocked to the securitization market to raise resources profile in a challenging financing environment, rating company Crisil said in report.

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IDFC Bond Fund – Short Term Plan

Any investment decision has to be part of a holistic asset allocation framework. Our best one is to talk of fixed income allocations under three buckets of l...

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Banks for adding investment-grade NBFCs in guarantee scheme

"Banks have purchased assets to the tune of Rs 17,000 crore from the NBFCs under the direct pooled buy-out so that NBFCs also get the liquidity.

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Retail inflation rises to 3.99% in September

Retail inflation based on consumer price index accelerated to 3.99 per cent in September against 3.28 per cent in August, government data showed on Monday. The figure came marginally below the Reserve Bank of India's (RBI's) 4 per cent target.

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Kirloskar Capital is now Arka Fincap

Our BureauKirloskar Capital, a wholly-owned subsidiary of Kirloskar Oil Engines and part of Kirloskar Group, has undergone a repositioning of its bra

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Govt closely monitoring developments at PMC Bank: Nirmala Sitharaman

PMC is in bad health allegedly due to its exposure to near-bankrupt realty player HDIL, to which it has loaned over 70 per cent of its Rs 9,000 crore in advances.

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Govt closely monitoring developments at PMC: FM

Finance minister Nirmala Sitharaman on Monday said she is closely monitoring the developments at Punjab and Maharashtra Co-operative (PMC) Bank, and the RBI governor has assured that customers' interest will be protected.

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PMC Bank: FM urges RBI Governor to expedite payments to genuinely suffering customers

Finance Minister Nirmala Sitharaman on Monday urged the Reserve Bank of India Governor Shaktikanta Das to try and expedite payments to “genuinely suff

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Portals seeking views on merger to be rolled out: Indian Bank

Indian Bank would be amalgamated with Allahabad Bank under the Centre's move to merge various public sector banks.

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PMC bank not linked with Punjab State Cooperative Bank & District Central Cooperative Banks

Cooperative Banks of Punjab in sound financial condition, says MD SK Batish.

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PMC Bank scam: Police custody of Wadhawans, Waryam Singh extended

A Mumbai court on Monday extended till October 16 the police custody of two top officials of HDIL and Punjab and Maharashtra Cooperative (PMC) Bank's former chairman in connection with the multi-crore scam at the bank.

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Public sector banks disburse Rs 81,781 crore in nine days, says Nirmala Sitharaman

Public sector banks (PSBs) alone have disbursed Rs 81,781 crore in the first phase of the outreach programme between October 1-9, Finance Minister N

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CIBIL to give real time alerts on changes in customers’ credit profile

Now, you can get a real time alert in case there is a significant change in your credit profile and rating.The feature has been launched by credit inf

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Loans worth Rs 81,781 cr disbursed via loan melas in just nine days; FM Sitharaman says eco doing good

In the first nine months of the first credit outreach programme (October 1 to 9), Rs 81,781 crore of credit was disbursed through loan melas, Finance Minister Nirmala Sitharaman said on Monday.

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Lending crisis surrounds HDFC Bank but investors high on hope

Investors keep piling into HDFC Bank’s stock, convinced it will emerge a winner from India’s financial woes.

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'Everything is going smoothly': FM on bank mergers

Union finance minister Nirmala Sitharaman on Monday said that the process of state-run banks' mega merger "is going smoothly". Addressing the media after a meeting with chief managing directors of public sector banks (PSBs), the finance minister assured that the step is in right direction and "everything is going smoothly".

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How to find out the best new home loan

On 1 October, all banks shifted to the Reserve Bank of India-mandated external benchmarks for pricing their new home loans. While banks have chosen to keep it a low-key affair, for retail borrowers, a shift to loans linked to an external benchmark holds more potential than any other benchmarking mechanism.

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State-run banks disburse Rs 81,700 crore through 'loan melas'

The secretary was addressing the media after the finance minister Nirmala Sitharaman met the heads of state-run banks for measures to boost the economy.

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Deposit insurance rates revised five times since 1961: a current 26-year break is the most extended lag

Took an average 1,425 days in 2018-19 between de-registration of a bank and claim settlement

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Singapore eases monetary policy for first time in 3 years

Singapore economy grew less than expected in the third quarter but avoided slipping into a technical recession.

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Rescue plan: Altico may offer to sell its assets

Altico’s asset sales could immediately fetch at least Rs 2,000 crore, market sources said.

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After PMC shock, work starts on stronger rules for cooperatives

Cap of Rs 25,000 on withdrawals from PMC Bank may rise as FM tweets 'clients and their concerns will be kept on top priority’.

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DHFL inks pact to sell its entire wholesale book

Lenders to vote on company’s resolution plan, including proposal to convert part debt into 51% equity, in November.

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Sunday, October 13, 2019

Cooperative sector needs self regulatory mechanism: Piyush Goyal

Citing the example of PMC scam, Piyush Goyal said some "bad apples" ruin the reputation of such an important sector.

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Bank of Baroda stares at vacant leadership as PS Jayakumar’s MD/CEO term comes to an end

BoB is the second largest public sector bank which does not have a CEO

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PNB, UBI, OBC merger: Outside expert may be roped in to decide logo of new entity

The proposed merger, expected to be effective from April 1 next year, will lead to the creation of the country's second-largest lender after State Bank of India, with a total business volume of about Rs 18 lakh crore.

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FM Sitharaman to meet CEOs of PSU banks on Monday to review credit offtake progress, other issues

During the annual performance review earlier this month, PSBs decided to undertake outreach exercise in 400 identified districts. Later, the private sector too expressed willingness to join the initiative.

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Insolvency Law Committee plans to meet on October 15 to discuss new reforms for IBC

The new resolution mechanism for finance companies may apply only to limited set of entities. Deposit taking and systemically important NBFCs may be kept out

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PNB, UBI, OBC merger: Expert may be roped in to decide logo of new entity

The proposed merger will lead to the creation of the country's second-largest lender after State Bank of India.

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Life insurers’ new premium income in September up 15% at ₹20,057 cr

The new premium income of life insurers rose 15 per cent to ₹20,056.70 crore in September, data from IRDAI showed.All 24 life insurance companies had

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Life insurers' new premium income in Sept up 15% at Rs 20,057 cr

LIC, the largest life insurer, recorded a 18.37% rise in its new premium during the month at Rs 12,759.24 crore as against Rs 10,778.81 crore in the same month a year earlier.

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PNB, UBI, OBC merger: Outside expert may be roped in to decide logo of new entity

"The new name and logo of the merged entity will be decided after inviting suggestions from all and sundry," a top UBI official told.

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A guide to monthly budgeting

Monthly budgeting is a vital part of personal financial planning. Do you know why? As the adage goes, if you spend less than the amount you earn, life

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Realty bites: Indian property slump leaves beleaguered banks exposed

A slump in the residential property market is leaving many builders struggling to repay loans to shadow lenders.

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Essar leads corporate deleveraging; pays off Rs 1.4 lakh crore: Prashant Ruia

While the group deleveraged some of its assets, its flagship Essar Steel was dragged to bankruptcy proceedings by lenders over unpaid loans.

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India still fast-growing economy with lot of potential: World Bank economist



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