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Thursday, December 31, 2020

Canara Bank raises ₹1,635 crore

Canara Bank, a public sector bank, has raised capital by issuing Additional Tier I bonds to the tune of ₹1,635 crore at 8.50 per cent coupon on Decemb

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IDBI Bank sells 23% stake in life insurance arm to Ageas

Deal valued at ₹507 cr; JV rebranded as Ageas Federal Life Insurance Company

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IDBI Bank sells 23 per cent stake in life insurance jt venture to Belgian partner for ₹507 cr

Belgian partner’s stake in IDBI Federal Life Insurance has risen to 49 per cent now

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‘Non-food credit growth down to 6% in Nov’

Non-food bank credit growth of scheduled commercial banks (SCBs) was lower at 6 per cent year-on-year (y-o-y) in November 2020 vis-a-vis 7.2 per cent

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House Price Index moderated at 1.1% in Q2, says RBI

The annual growth (y-o-y) in all-India House Price Index (HPI) continued to moderate, standing at 1.1 per cent in Q2 of 2020-21 (July-September), comp

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Post Office Savings Bank likely to be interconnected with other banks by April

The postal department during the lockdown was at the frontline to deliver essential parcels when rail, road and air traffic were grounded and continues to enhance capacity as trains are not fully operational yet, Department of Posts Secretary Pradipta Kumar Bisoi told.

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DHFL case: 63 Moons files application with NCLT

63 Moons Technologies has applied with National Company Law Tribunal (NCLT), Mumbai, seeking that the benefit of avoidance applications for about ₹30,

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Loan apps scam: Cops arrest Chinese national, detects ₹21,000 cr worth transactions

The fraud came to light when five borrowers committed suicide, unable to bear the harassment by the recovery agents.

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LIC IPO: Govt appoints Milliman Advisors to find 'embedded value' of the insurer

An Indian Embedded Value is a measure of the consolidated value of shareholders’ interest in the life insurance business.

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Delhi HC directs HDFC to keep ‘fraud’ categorisation in abeyance: RHFL

Total financial indebtedness of RHFL, including short-term and long-term debt, was ₹12,767 crore

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Fintech industry accelerates financial inclusion, to push faster digital adoption

The rapid growth of fintech players has helped in accelerating financial inclusion and new age technologies like AI and ML will further quicken digital adoption in the country, benefitting both the industry and the consumers in the coming years, according to experts.

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RuPay, RBL Bank to launch PoS with PayNearby

Merchants will now be able to accept contactless payments of up to Rs 5,000 through a simple tap and pay mechanism on his NFC-enabled mobile phones.

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Bank credit grows 6 per cent, deposits by 11.3 per cent during December 5-18

In the fortnight ended December 4 this year, bank credit grew 5.73 per cent to Rs 105.04 lakh crore and deposits by 11.34 per cent to Rs 145.92 lakh crore. In October, non-food credit grew 5.6 per cent compared to a growth of 8.3 per cent in the same month of the previous year.

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Health insurance purchases rise by about 50% during Covid-19: ICICI Lombard survey

‘Covid-19 and fear of job loss have motivated respondents to buy health insurance in the last six months across cities’

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Jana SFB: Disbursements almost normal, only micro finance loans lagging

Gold loans during Covid was higher than pre-Covid level

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‘20 years on, health insurance still an opportunity’

Globally, money that has been coming in has been pension money. So, whether it is from funding or retirement planning perspective, these are the two markets close to insurance that have a lot of tailwind, said Shikha Sharma, Founding MD, ICICI Prudential Life

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Wednesday, December 30, 2020

Current account surplus shrinks to $15.5 b in Q2: RBI

India’s current account surplus moderated to $15.5 billion in the second quarter of 2020-21 from $19.2 billion in the preceding quarter on account of

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Sitting on a pile of deposits, players battled both risk aversion and lower credit offtake

But the RBI’s timely measures on moratorium and deferred interest on working capital facilities kept the financial system on an even keel

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‘RBI’s special schemes helped MSMEs, NBFCs tide over liquidity crisis’

Banks have weathered the shock to their balance sheets due to the Covid-19 pandemic well so far. In an interview with BusinessLine, Bank of Maharasht

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Deposits for public sector banks surge amid pandemic stress

Term deposits – contributing almost 60% of total deposits – moderated, reflecting the easing of interest rates and the lure of returns on competing asset classes. Term deposit growth of private banks decelerated sharply even as it quadrupled in public sector banks, Reserve Bank of India said.

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Jana SFB expands its branch network to 601

Jana Small Finance Bank digitally inaugurated 18 bank branches in Maharashtra.With the conversion of its asset centres to bank branches, Jana Bank’s p

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SFBs should focus on bottomlines to withstand adverse shocks: RBI

Green shoots in the form of revival of agriculture and allied activities may augur well for financials of these banks

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Yes Bank elevates Niranjan Banodkar as CFO, Adlakha as HR head

In an exchange filing, Yes Bank said these appointments were approved by the board, on the recommendation of the nomination and remuneration committee and also of the audit committee.

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“Pooled loan issuance” structures can help diversify borrowings for lower rated entities: ICRA

Credit rating agency, ICRA said that PLI has seen some stability in last few months. Many industry trackers expected this instrument to face problems as the borrowers are typically companies or institutions that are unable to raise funds from banks or other lenders or are unable to raise funds at an interest rate they are comfortable with.

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ICICI Lombard launches online platform for SMEs

New interface intends to reach over 6.33 crore MSMEs

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Kapil Wadhawan submits alternative proposal for DHFL

Says it is superior to the offers put in by bidders under resolution process

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Yes Bank appoints Anurag Adlakha as Chief Human Resources Officer

Niranjan Banodkar will be the Group Chief Financial Officer

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Krazybee Services appoints Gopalakrishna as Independent Director

Krazybee Services Private Limited, a non-deposit taking non-banking financial company (NBFC-ND-SI), has appointed G Gopalakrishna, former Executive Di

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Flat growth for life insurance industry in FY21: G Murlidhar, Kotak Mahindra Life Insurance

"This has been an unprecedented year. The industry is likely to remain flattish. However, we will stay ahead of the industry. In the first half our additional premium had grown by 16 per cent," Kotak Mahindra Life Insurance MD & CEO G Murlidhar said.

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Flat growth for life insurance industry in FY21: Murlidhar

The life insurance industry’’s growth in the current fiscal is likely to stay flat amid sharp traction seen in the protection business and ₹5 lakh in

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IFSCA permits Banking Units to transfer assets through participation agreements

International Financial Services Centres Authority (IFSCA) has allowed Banking Units (BUs) to transfer assets to/from other financial institutions, pe

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IFSCA permits banking units to transfer assets through participation pacts

The dispensation is expected to encourage risk participation of foreign currency assets through BUs in IFSC instead of banks in foreign jurisdictions, IFSCA said in a statement. The first IFSC in the country has been set up at the Gujarat International Finance Tec-City (GIFT) in Gandhinagar.

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Banking wrong on corporate houses: Why fate of banking, public finance is uncertain

With RBI’s inability to uphold regulatory oversight, a grave crisis in banks and NBFCs is looming large.

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Call to implement insurance scheme in marine fisheries

Parametric insurance scheme should be implemented in marine fisheries to compensate the loss suffered by the fishermen following weather alerts, said

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From early investment to asset allocation, financial planning advice for your 30s

From early investment to asset allocation, financial planning advice for your 30s

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Banks need Rs one lakh crore for NPAs, growth, says Reserve Bank of India

According to the RBI, gross non-performing assets (NPAs) declined from 9.1% as of March 2019 to 8.2% at end-March 2020 and further down to 7.5% in end-September 2020.

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PMC Bank case: Bust bank invites bids for sale of yacht, jets owned by promoters of largest borrower

A public notice issued by the administrator sought sealed bids for a Dassault Falcon 2000 and a Bombardier Challenger 300, both currently parked at the Mumbai airport.

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Banking sector sees improvement in health during FY20, says Reserve Bank of India

The RBI also expressed concern over rolling back the policy support given to banks to deal with the Covid-19 pandemic in the last eight months.

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Given uncertainty induced by Covid-19 and its real economic impact, asset quality set to worsen sharply: RBI

“Going forward, although the risks to the banking sector remain tilted upwards, much hinges around the pace and spread of the economic recovery that is gradually gaining traction in H2: 2020:21,” RBI noted.

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Private banks’ operating profit share rises to 43.4% at PSBs’ cost

Net profits of SCBs turned around in FY20 after losses in the previous two years

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Tuesday, December 29, 2020

IBC emerges as major mode of NPA recovery in 2019-20

Of the total amount of ₹ 1,72,565 crore recovered, IBC route accounted for ₹ 1,05,773 crore

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AU Bank and ICICI Pru Life Insurance announce partnership

Our Bureau AU Small Finance Bank (AU Bank) has entered into a strategic partnership with ICICI Prudential Life Insurance to offer need and goal-based

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Banking sector to be tech-driven: Khandelwal

The banking sector will be driven by technology in coming days with more applications being run in cloud, believes Dilipkumar Khandelwal, Global Chief

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RBI Report on Trends: Payments banks yet to turn profitable

Most payments banks are yet to turn profitable and their sources of income may come under strain with the increased unemployment and reverse migration

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RBI Report on Trends: NBFC sector remains resilient

Non-banking finance companies sector remains resilient with strong capital buffers and their balancesheet growth gained traction in the first half of

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Rollback of policy support can impact health of banks: RBI

The Reserve Bank of India has warned that as policy support is rolled back, the impact of the Covid-19 pandemic can make a dent in the health of b

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Non-performing assets recovered via IBC rise 61% in 2019-20

Non-performing assets (NPAs) recovered by scheduled commercial banks via the Insolvency and Bankruptcy Code (IBC) channel increased to about 61 per ce

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Covid-19: Over 40% of borrowers availed loan moratorium benefit

The moratorium distribution sought in MSME loans indicates that urban co-operative banks bore the brunt of incipient stress.

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Benefit illustration must in health insurance plans: IRDAI

The new norms need to be adopted on or before April 1, 2021.

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Profitability of NBFCs may be impacted due to loan impairment, low demand: RBI

The stronger and the deposit-taking NBFCs may however fare better as many have reported strong revival in disbursements and collections, almost to pre-COVID levels, the regulator observed.

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ICICI Bank to acquire 9.09% stake in Myclassboard Educational Solutions

Private sector lender ICICI Bank on Tuesday said it will acquire 9.09 per cent stake in online school management platform Myclassboard Educational So

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PNB: IT integration of erstwhile UBI completed

Punjab National Bank (PNB), country’s second largest public sector bank, has now completed the IT integration of all branches of erstwhile United Bank

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ANZ India Business Chamber signs MoU with Spring Up Capital to help start-ups

Chennai-headquartered ANZ India Business Chamber (ANZIBC), a non-profit organisation primarily focusing on promoting Indo-Australian trade, on Tuesda

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Loan restructuring requests much lower than estimated: Analysts

Analysts are also forecasting lower credit provisions and better profitability for banks in the next fiscal year starting April 1, on the back of improved asset quality with a quick economic turnaround.

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Former Economic Affair Secretary Atanu Chakraborty likely to be next HDFC Bank chairperson

The tenure of current part-time Chairman Shyamala Gopinath will end on January 1, 2021. Gopinath, former deputy governor of the Rese­rve Bank of India, has been serving in the position since January 2, 2015.

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Rolling back of Covid related policy relaxation could impact banks: RBI

The performance of Indian banking improved in the fiscal year 2020 when they reported a profit on an aggregate basis after two years of losses, the RBI said in its yearly assessment report.

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RBI helps India’s financial condition rebound to better than pre-pandemic level at full speed

Policy rate, liquidity conditions, markets, foreign exchange, and global conditions were the major drivers of the financial conditions this year.

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Top financial resolutions for the New Year



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Check your bank balance before using ATM

Check your bank balance before using ATM

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ICICI Bank acquires 9.09% stake in Myclassboard

Stake purchase in the educational technology platform is for a cash consideration of ₹4.5 crore

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Lenders extend ICA for Reliance Home Finance resolution till March 31

As per June 7 circular of the RBI, lenders can extend the time period of the pact if an account has not been resolved within 180 days of signing ICA.

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Cashaa to launch crypto bank

In JV with United Multistate Cooperative Society; to roll out 14 physical branches in January 2021

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Icra lowers loan recast estimates to 2.5-4.5% of advances from 5-8%

Public sector banks are set to break-even after six consecutive years (FY16- FY21) of losses and generate an RoE of 0-5.4% for FY22 (-2.3%/ 3.7% for FY21 and -6.5% for FY20).

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RBI says 37.91% of loans were under moratorium as of August-end

Krishnan Sitaraman, senior director, Crisil Ratings, said 37.91% of loans under moratorium seems a little higher than expectation. It looks like there could be higher degree of moratorium sought by retail customers.

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Monday, December 28, 2020

Standard norms for travel insurance mooted

Regulator IRDAI on Monday proposed standard guidelines for travel insurance with a view to ensuring uniformity and certainty about coverage, exclusio

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PNB completes IT integration of all branches of two merged entities

The amalgamation of Oriental Bank of Commerce and United Bank of India into PNB came into effect from April 1, 2020.

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Loan Apps Scam: Experts raise concerns about regulatory gaps being exploited

Five suicides within a week in Telangana allegedly linked to harassment by app-based illegal loan sharks and extortionate moneylenders have raised con

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Flexible inflation targeting: “If it ain’t broke, don’t fix it”, say RBI officials

Maintaining the inflation target at 4 per cent is appropriate for India in the backdrop of the steady decline in trend inflation to 4.1- 4.3 per cent

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Twenty years of private insurance: How the industry has shaped up

Come 2020, she is selling lakhs of insurance policies at the tap of an app on mobile phones and all it takes is a few minutes to mail the policy document instead of weeks of wait for the policy to arrive by the unpredictable India Post to shove it to safety in the steel cupboard.

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2021 will witness lot of regulatory efforts channelled towards virtual assets: SBI official

" The use of crowdfunding websites, although not entirely new, create an additional risk as these are specially designed to solicit funding and can be misused for terror financing," he said.

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Startup Outlook 2021: Michael Siebel and Rajan Anandan share the secret sauce behind successful founders, at Razorpay's FTX



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Gross NPAs of banks may rise to 10.1-10.6% by March 2021: Icra

The report further said the loan restructuring requests are much lower than previously estimated, supported by sharper than expected improvement in economic activities as well liquidity support through the government's emergency credit line guarantee scheme.

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Govt to soon initiate Bank Investment Company

The government is likely to set in motion the process of establishing a Bank Investment Company (BIC) to hold its stake in public sector banks (PSBs)

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Axis Bank prunes overseas presence as it consolidates local business

RBI fixed December 31 as the deadline for debt restructuring requests from borrowers coming under stress due to the pandemic.

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SBI, PNB, other Indian banks see sharp fall in NPAs; these reasons to thank for improved asset quality

The improvement in asset quality has majorly been due to recoveries and higher write-offs by the multiple banks.

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Bank of Baroda launches digital lending platform

The platform provides ‘in-principle approval’ for home, car and personal loans in 30 minutes without human intervention

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How India's banking and financial sector will shape up in post-COVID 2021

How India's banking and financial sector will shape up in post-COVID 2021

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Break-even year for bleeding PSU banks

Given this setting, it may seem highly incongruous to expect NPAs in Indian banks to bottom out in the fourth quarter of 2020-21. Yet, this is what is likely to happen. It now appears that not only have banks dodged an explosion of bad loans, but they also solved some historical problems.

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Take shareholders’ nod before appointing Shivan as MD & CEO, RBI tells Dhanlaxmi Bank

An independent director the bank told FE the RBI must be concerned that the shareholders voted out a person nominated by the RBI.

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Sunday, December 27, 2020

Piramal highlights its bid for DHFL while responding to Oaktree's concerns

Responding to Oaktree Capital’s concerns on the DHFL resolution process, the Piramal Group highlighted its bid for the debt-ridden housing finance com

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Bidding for DHFL: ‘Swiss Challenge’ idea doesn’t fly with creditors

Bankers feel this may lead to legal issues and delay the entire resolution process

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Ahead of DHFL voting, Oaktree fires fresh salvo against Piramal bid

A key point that Oaktree is harping on is the structure Piramal’s have proposed in their business plan, that involves a merger between DHFL and Piramal Capital, its finance arm to swell the combined entity’s networth to more than Rs 18,000 crore and cushioning its ability to issue debt.

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Oaktree’s bid to ‘convince’ DHFL lenders

In a last-ditch effort to convince the lenders to DHFL, Oaktree Capital has sent a fresh letter to the CoC stating that evaluation of its offer based

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RBI extends deadline for urban co-ops by 6 months

No need for BoM after amendment in Banking Act, say bankers

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Muthoottu Mini Financiers ties up with Exide Life Insurance to provide life insurance products

Muthoottu Mini Financiers Ltd has announced a strategic partnership with Exide Life Insurance Company Limited to provide life insurance products thro

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PMC Bank money laundering case: ED summons Sanjay Raut's wife for questioning on December 29

The Shiv Sena, which is part of Maharashtra's ruling alliance Maha Vikas Aghadi (MVA) along with the NCP and the Congress, had earlier alleged that central probe agencies have been targeting them unfairly.

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2021: Banks brace for pandemic-hit corporates' bad loan woes, muted credit growth

Muted private investment impacting the corporate loan growth will be another challenge that banks will have to face in the coming months. Despite ample liquidity in the system, demand from the corporate sector is very low and bankers hope that faster than anticipated recovery could bring in the animal spirit as far as India Inc in concerned.

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PNB puts 3 stressed accounts up for sale

The three accounts are Mangalam Oil Industries with outstanding dues of Rs 10.77 crore, Alliance Fibres Ltd (Rs 18.31 crore) and Birsa Institute of Technology (Trust) (Rs 5.41 crore).

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Centrum Microcredit raises $5.55 million from Singapore’s IIX

Centrum Microcredit Ltd, the micro-finance arm of diversified Centrum Group, has raised $5.55 million (about ₹41 crore) debt from Singapore-based imp

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Saturday, December 26, 2020

SEBI names Krishnamurthy as ‘observer’ for Franklin e-voting

Announcement after the start of voting process stirs up controversy

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Banks closed for 14 days in January 2021; check full list of national, regional holidays next month

In January 2021, banks in India will remain closed for 14 days, including four Sundays along with second and fourth Saturdays, and one national holiday

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Bad debt fear keeps private banks away from street vendor loans

Last week, a branch manager of a leading state-run bank in Madhya Pradesh wrote to the municipal commissioner seeking “cooperation” as several of the 160 street vendors, who were given loans under the PM SVANidhi scheme, had not paid a single instalment, turning them into non-performing assets (NPAs).

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Bounce rate of auto debit transactions remains high amid lenders’ claims of improved collection efficiencies

Is there rising financial stress amongst small and retail borrowers after the end of the loan moratorium, despite banks and NBFCs reporting collection

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Govt re-caps Punjab & Sind Bank via zero coupon bonds

The Centre has resorted to a novel recapitalisation exercise to provide ₹5,500-crore support to state-owned listed Punjab & Sind Bank to shore up

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HC allows SFIO to interrogate Singh brothers for two weeks starting Jan 1

The SFIO had moved the high court against a September 22 order of the trial court denying it permission to examine the four who are presently in judicial custody.

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Friday, December 25, 2020

Govt re-caps Punjab & Sind Bank via zero coupon bonds

The Centre has resorted to a novel recapitalisation exercise to provide ₹5,500-crore support to state-owned listed Punjab & Sind Bank to shore up

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‘Our sector is just about starting its most glorious decade’

Terming the next decade as the most glorious decade for the country’s digital payments and fintech sector, Varun Sridhar, CEO, Paytm Money, said the C

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Digital payments got a Covid boost in 2020

RBI’s push for contactless card transactions, entry of WhatsApp into the payments sector will fuel growth

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Chinese national kingpin in instant loan app fraud

Call centre in Hyderabad raided

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Loan restructuring, other measures announced by govt to cushion PSBs from shock: DFS Secy

Despite the pandemic, the lockdown and the consequent damage done to the economy, there are quick signs of recovery, Financial Services Secretary Debasish Panda told in an interview.

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Aavas Financiers to raise ₹100 crore through NCDs

The Executive Committee of the Board of Jaipur-headquartered Aavas Financiers Ltd on Thursday approved the issuance of Non-Convertible Debentures (NC

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Moratorium, loan recoveries help Indian banks improve GNPA ratio, but will it sustain?

Recoveries were better in the fiscal second quarter, helping in improving the asset quality of banks.

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How ICICI Pru Life’s early digital move paid dividends during pandemic

The insurer could serve its customers safely and securely, and its staff could move to WFH seamlessly, says CTO Ganessan Soundiram

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S&P Global affirms Indian Bank’s ‘BBB-‘ rating

S&P said the management expects 2%-3% of the loans to get restructured under the central bank's one-time restructuring window.

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Thursday, December 24, 2020

RBI to conduct simultaneous purchase and sale of G-Secs on December 30

The Reserve Bank of India on Thursday said it will conduct simultaneous purchase and sale of government securities (G-Secs) under Open Market Operatio

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New code for co-ops to kick in from April

Regulations aim to protect depositors by strengthening RBI’s oversight

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Indian Bank reports Pratibha Group fraud for dues of ₹574.66 crore

Chennai-headquartered public sector Indian Bank has announced that it fully provided Non-Performing Accounts of two companies of Pratibha Group namely

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Oaktree ups bid for DHFL by ₹1,700 cr

The move came after Piramal Housing and Finance too increased its bid for DHFL

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RBI cancels licence of Subhadra Local Area Bank, Kolhapur

The licence issued to Subhadra Local Area Bank stands cancelled to carry out banking business from the close of business on December 24, 2020.

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Central Bank of India to exit housing finance business; to sell JV stake for Rs 160 crore

CBHFL is a financing and mortgage company jointly promoted by four public sector institutions -- Central Bank of India, National Housing Bank, Specified Undertaking of Unit Trust of India (SUTTI) and Housing and Urban Development Corporation (HUDCO).

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SBI Life Insurance acquires 8.99% stake in Paisalo Digital

It has purchased 38 lakh equity shares of the company at ₹489.99 apiece for a consideration of ₹186.20 crore.

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RBI cancels Kolhapur-based Subhadra Local Area Bank’s licence

The Reserve Bank of India (RBI) on Thursday cancelled the banking licence issued to Kolhapur (Maharashtra)-based Subhadra Local Area Bank Ltd. The cen

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Why RBI cautioned public against use of “unauthorised” digital lending apps



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Just saving won't cut it, invest



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Axis MF changes multicap fund to flexicap

This follows after Sebi had insisted multicap funds should invest 25 per cent each in small, mid and large cap stocks

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Banks will focus on cash flow-based lending in future: UCO Bank's Ajay Vyas

Various SBI officials have advocated for cash flow-based lending models over the traditional asset-based or ratings-based ones. In cash flow lending, a financial institution grants a loan that is backed by the recipient's past and future cash flows.

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Bankers’ sentiments on lending conditions improve vastly

Retail loan demand saw maximum recovery, while infrastructure, mining and quarrying sectors showed mild optimism during July-September 2020

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RBI unlikely to extend Dec 31 loan rejig deadline

The governor on Wednesday concluded a two-day meeting with public sector and private sector banks, held through video conference. Days before banks closed their books for the third quarter, Das asked them to make enough provisions should loans go bad. He also asked banks to raise more capital to grow loans.

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Paytm’s FY20 loss narrows to ₹2,942.3 crore

Revenue rises 1.3% to ₹3,628.85 crore

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Banks expect to recover Rs 12K cr from sale of Videocon's oil blocks in Brazil

Bankers are expecting to recover as much as Rs 12,000 crore or $1.6 billion from the sale of Videocon’s Brazil oil blocks after a spurt in oil prices resulted in a boost in the valuation of the assets, according to people in the know.

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We believe can recover 50% of Rs 40,000-crore bad loans: Prashant Kumar, MD and CEO, YES Bank

Despite the COVID-19 situation, the bank could generate operating profits, which was used to provide for credit costs, showing a profit both in Q1 and Q2 of FY21.

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RBI Governor Shaktikanta Das ask banks to strengthen lending capacity by raising capital

In his opening remarks, Das touched upon the current economic situation and emphasised the importance of the banking sector in supporting the ongoing revival in economic activities.

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Wednesday, December 23, 2020

FPIs bond with equities, dump debt this year

Pump in ₹1.64-lakh cr in equities; ₹82,039 cr worth of bonds sold

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‘Drop in household income impacted our performance’

Arohan Financial Services Ltd, which had put its expansion plans on hold and had also stalled its capital raising plans in the wake of Covid-19, is g

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Despite heavy headwinds, the macro picture looks promising

Players, who were hobbled by multiple challenges through the year, are now buoyed by improving collections

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Race for DHFL heats up

While Oaktree Capital’s bid of about ₹36,700 crore seems to be higher in terms of net present value, Piramal Capital and Housing Finance Ltd is offering higher upfront cash of ₹13,000 crore

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AU Bank rolls out app, netbanking portal

AU Small Finance Bank (AU Bank) has launched its mobile banking app and netbanking portal. The new platforms offer over 100 services that cater to not

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RBI meets bankers, takes stock of Covid related stress & credit growth

In the meeting that was conducted through video conferencing, the governor and deputy governors discussed the progress in the implementation of resolution framework for COVID-related stressed assets, credit flow to different sectors of the economy including stressed sectors along with availability of credit to MSMEs.

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NBFC collection efficiencies at their highest this fiscal says Crisil

The recovery in collection efficiencies is good news for the beleaguered NBFCs which were hit hard due to the stringent lockdown announced in late March 2020, and subsequently, extension of moratorium on loan repayment to borrowers (under the Covid-19 regulatory package announced by the Reserve Bank of India).

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RBI chief asks banks to be proactive lenders by raising capital

Building buffers, raising capital crucial to building resilience: Shaktikanta Das

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RBI warns against unauthorised digital lenders

The Reserve Bank of India (RBI) on Wednesday cautioned members of public against unauthorised digital lending platforms/ mobile apps. The central bank

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Securitised pool collections improve to almost pre-pandemic levels after moratorium: Report

"The monthly collection efficiencies of most Crisil-rated securitised pools are almost at pre-pandemic levels. That's because economic activity has been gathering steam in recent months, and agricultural activity, which was less impacted, has steadily picked up, too," the agency's Senior Director Krishnan Sitaraman said.

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SBI extends global trade finance solutions to Israeli corporates

"In view of the revival of business activity in the coming months with vaccine approvals being accorded by various governments around the world, we are offering our services/products to the Israeli business community at competitive pricing to meet all their cross border trade finance needs," B V Ramana, the CEO of SBI Tel Aviv branch said.

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Higher delinquencies in credit card, loans against property segments in retail lending: Report

As of August-end, the loans overdue for over 90 days in the credit card segment were 0.51 per cent up from the year-ago period at 2.32 per cent, while the same for the loans against property was 0.34 per cent up at 3.96 per cent, Transunion Cibil said.

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Loan apps pushing people into debt traps, suicides

The tap-and-get-a-loan “solution” is pushing a large number of people into a trap far deeper than the financial condition they are in.

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RBI okays Sandeep Batra's appointment as Executive Director of ICICI Bank

"RBI vide its letter dated December 22, 2020 has communicated its approval for the appointment of Sandeep Batra as Executive Director of the Bank," ICICI Bank said in regulatory filing.

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DHFL bid: Oaktree clarifies stance on 3 key issues to lenders

Raises concern on fairness and transparency of resolution process

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RBI approves appointment of Sandeep Batra as ED, ICICI Bank

The Reserve Bank of India has approved the appointment of Sandeep Batra as Executive Director of ICICI Bank for a period of three years.The appointm

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Neutral-to-positive impact of RBI's draft circular on govt-owned NBFCs: Ind-Ra

According to the draft circular, non-deposit and systemically-important NBFCs with capital-to-risk weighted assets ratio below 15 per cent and net non-performing advances above 6 per cent will not be able to pay any dividend.

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