Custom Search

Tuesday, July 14, 2020

SBI to institute work-from-anywhere infrastructure, hopes to save Rs 1,000 crore

Speaking to shareholders at the bank's 65th annual general meeting on Tuesday, he said the focus going forward will be on cost reduction, rationalization and reskilling of workforce, improving staff productivity and redeployment of workforce from admin offices to sales roles.

from Banking/Finance-Industry-Economic Times https://ift.tt/2OpgNfC
Read more »

HDFC Bank calms fears, says no loss to the bank from vehicle loan unit probe

"It is... important to clarify here that this matter is not related in any manner whatsoever to the lending aspect of the business. Therefore there's no question of this having any bearing on 'loan book' or causing any loss to the bank," a bank spokesperson said.

from Banking & Finance – The Financial Express https://ift.tt/30cg2Mx
Read more »

How surplus liquidity, RBI’s actions have led to short-term rates falling below the repo rate

While 10-year G-sec yield has also softened, there is still a wide spread over shorter-tenure bonds

from Business Line - Money & Banking https://ift.tt/2OlQNBA
Read more »

Probe on vehicle finance lending practices will not cause any loss: HDFC Bank

"It is important to clarify here that this matter is not related in any manner whatsoever to the lending aspect of the business. Therefore there's no question of this having any bearing on 'loan book' or causing any loss to the bank," a bank spokesperson said.

from Banking/Finance-Industry-Economic Times https://ift.tt/305iyny
Read more »

SBI to focus on cost reduction, rationalisation to mitigate Covid-19 impact: Rajnish Kumar

State Bank of India, India's largest lender by assets and branch network, plans to save Rs 1,000 crore through such cost optimization, chairman Rajnish Kumar told shareholders at the bank's 65th Annual General Meeting (AGM) which was held through video conferencing due to the pandemic.

from Banking/Finance-Industry-Economic Times https://ift.tt/2DwFILV
Read more »

HDFC Bank says recent exits of honchos in normal course

Private sector lender HDFC Bank on Tuesday said that recent high-level exits are in the normal course and has nothing to do with the lending business.

from Business Line - Money & Banking https://ift.tt/3gXITuM
Read more »

Analysts see bad loans rising by year end: ‘Banks’ fundraise rush signals likely surge in defaults’

RBI governor Shaktikanta Das said over the weekend that the regulator had nudged banks to safeguard themselves in order to absorb asset-quality shocks that could emerge due to the pandemic.

from Banking/Finance-Industry-Economic Times https://ift.tt/3iW87vn
Read more »

Rs 15,000-crore FPO: Yes Bank sees enough fire power for 2 years

The bank’s total advances stood at Rs 1.71 lakh crore and deposits were to the tune of Rs 1.05 lakh crore as on March 31.

from Banking & Finance – The Financial Express https://ift.tt/2DEOfg2
Read more »

Monday, July 13, 2020

City Union Bank gets board’s approval to raise Rs 1,100 crore

The lender will seek shareholders' approval for the fund raise plan at its upcoming AGM next month.

from Banking & Finance – The Financial Express https://ift.tt/393u5bj
Read more »

HDFC plans to seek shareholders nod to raise Rs 45,000 crore

The board of directors of HDFC Ltd will meet on July 30 to announce the quarterly results for the first quarter ended June of the current fiscal.

from Banking & Finance – The Financial Express https://ift.tt/2ZlPWY6
Read more »

Rakesh Wadhwan, director of HDIL, loses appeal against initiating insolvency proceedings

In August last year, Bank of India (BOI) approached the Mumbai bench of the NCLT claiming that HDIL had failed to repay its dues amounting to Rs 522 crore, upon which the tribunal admitted the case under section 7 of the Insolvency and Bankruptcy Code (IBC).

from Banking/Finance-Industry-Economic Times https://ift.tt/3gXYWsv
Read more »

30 insurers get nod to sell ‘Corona Kavach’ policy

The Insurance Regulatory and Development Authority of India (IRDAI) has given approval for ‘Corona Kavach’, a standard Covid-19-specific insurance pol

from Business Line - Money & Banking https://ift.tt/3fpSkCx
Read more »

RBI turns net purchaser of US dollar in May

After being net seller of the US currency in the first month of this fiscal, the Reserve Bank of India (RBI) turned net purchaser in May as it bought

from Business Line - Money & Banking https://ift.tt/3gV9JU2
Read more »

Nabard to provide bank refinance of Rs 5,000 cr for watershed development projects

The development finance institution also earmarked another Rs 5,000 crore for turning Primary Agricultural Credit Societies (PACS), building blocks of the country's cooperative banking structure, into multi service centres.

from Banking & Finance – The Financial Express https://ift.tt/2WgpEo9
Read more »

Nabard announces ₹5,000-crore concessional refinance facility

Our BureauThe National Bank for Agriculture and Rural Development (Nabard), on Monday, announced a concessional refinance facility to the tune of ₹5,0

from Business Line - Money & Banking https://ift.tt/2C8JMlb
Read more »

India’s non-banking financial institutions may not recover before a year; these sectors are on highest risks

A near-term recovery for India's NBFI is not probable, as the sector continues to wrestle with the fallout from the coronavirus pandemic.

from Banking & Finance – The Financial Express https://ift.tt/2ZqxRbw
Read more »

NHB provides ₹25,000 crore to housing fin cos as refinance assistance in last 4 months

The National Housing Bank (NHB) has in the last four months (March to June 30, 2020) provided a total refinance assistance of over ₹25,000 crore to t

from Business Line - Money & Banking https://ift.tt/3fqAKOO
Read more »

HSBC to set up IFSC Banking Unit at GIFT City

Global banking major Hongkong and Shanghai Banking Corporation Limited (HSBC) has received an in-principle approval from the GIFT SEZ Authority to set

from Business Line - Money & Banking https://ift.tt/3er79nf
Read more »

Muthoot Finance launches cashback scheme

Muthoot Finance has launched a special cashback scheme – Muthoot Online Money Saver programme(MOMS) – for its customers who pay interest online.This p

from Business Line - Money & Banking https://ift.tt/3er4ZnD
Read more »

PNB to focus on self-service, automation to deal with COVID-19 challenges: SS Mallikarjuna Rao

"The bank will accelerate self-service and automation initiatives through greater focus on technology to foster optimisation of processes, employee and workplace," he said. Rao said 2019-20 started with an overarching goal towards 'Year of Profitability and Creating Value', leaving the adversities of the previous financial year behind.

from Banking & Finance – The Financial Express https://ift.tt/2Zn0xBU
Read more »

YES Bank in breach of stipulated exposure limits to five groups of connected counterparties

YES Bank remains in breach of its stipulated exposure limits to five groups of connected counterparties as on the date of filing of its red herring pr

from Business Line - Money & Banking https://ift.tt/2DCszkG
Read more »

FPO will take care of growth requirements for next two years: YES Bank MD and CEO

With ₹15,000-crore capital-raise, CET 1 ratio to rise to 13%

from Business Line - Money & Banking https://ift.tt/2ZoqsJK
Read more »

Coronavirus or Demonetisation? Which one helped India’s digital payment more?

The value of transactions on the Unified Payments Interface, a platform created by India’s largest banks in 2016, reached an all-time high last month as people feared to handle banknotes amid the pandemic.

from Banking & Finance – The Financial Express https://ift.tt/3gNhXh0
Read more »

Visa partners with Federal Bank for rolling out Visa Secure for e-commerce

Visa, a global leader in payments technology, has entered into a partnership with Federal Bank to roll out Visa Secure to the bank’s cardholders. Visa

from Business Line - Money & Banking https://ift.tt/3iUN7oB
Read more »

HSBC India rolls out digital payment products for retail customers

HSBC India on Monday announced the launch of a comprehensive range of digital payment products for its retail customers.“HSBC is now part of e-NACH (E

from Business Line - Money & Banking https://ift.tt/2Zm6ejx
Read more »

Lakshmi Vilas Bank looks to raise Rs 1,000 cr; in talks with investors for capital infusion

The nearly 100-year-old LVB is looking at ways to bolster its capital adequacy ratio and the merger deal with Aion Capital-backed non-banking financial company Clix Capital would bring in Rs 1,900 crore for the bank.

from Banking & Finance – The Financial Express https://ift.tt/3j00DXZ
Read more »

HDFC Bank probes improper lending, conflict of interest in car loan unit. What did it find?

India’s most valuable lender by market capitalization decided against proceeding with an earlier proposal to extend the employment of Ashok Khanna, an 18-year veteran at the bank, after the investigation was completed, said the people, who asked not to be identified as the information remains confidential.

from Banking & Finance – The Financial Express https://ift.tt/2OiT94j
Read more »

HDFC Bank probes lending practices at vehicle unit

HDFC Bank Ltd has conducted a probe into allegations of improper lending practices and conflicts of interests in its vehicle-financing operation involving the unit’s former head, according to people familiar with the matter.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3foKrxq
Read more »

Virus boosts digital payments in India where cash ban failed

The Reserve Bank of India last year said it aimed to increase digital transactions to about 15% of gross domestic product by 2021, from nearly 10% at the time. The government is aiming for a billion digital transactions per day as the world’s fastest-growing smartphone market empowers consumers to transact at the click of a button.

from Banking/Finance-Industry-Economic Times https://ift.tt/2W9U8If
Read more »

HDFC Bank probes lending practices at vehicle unit

India’s most valuable lender by market capitalization decided against proceeding with an earlier proposal to extend the employment of Ashok Khanna, an 18-year veteran at the bank, after the investigation was completed, said sources. The vehicle financing unit he headed had outstanding loans of more than Rs 1.2 lakh crore ($16 billion) as of March 31.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Zkhk8N
Read more »

Banks need to step up lending to businesses: KV Kamath

As India’s border dispute with China spills over to economic and business activities, Indian businesses should indigenise as they have acquired enormous capacity in the past decade, he said.

from Banking/Finance-Industry-Economic Times https://ift.tt/302kCNh
Read more »

Sunday, July 12, 2020

Amidst Covid lockdown, cryptocurrency trading sees a boom

But lack of clarity on regulations, possible ban hindering investments

from Business Line - Money & Banking https://ift.tt/3ely0kK
Read more »

Three months’ extension for re-import of cut, polished diamonds

Our BureauThe Finance Ministry, on Sunday, relaxed the requirement of re-import of cut and polished diamonds by three months. The Covid pandemic neces

from Business Line - Money & Banking https://ift.tt/3gO3RvZ
Read more »

Online delivery of education will continue beyond Sept 30: IBBI

With no signs of the Covid-19 menace abating, insolvency regulator IBBI has now allowed online delivery of education to continue beyond September 30.

from Business Line - Money & Banking https://ift.tt/2Zq3q5j
Read more »

Our target is not only about market share, but also to increase insurance penetration’

SurabhiWith robust double-digit growth in June in individual insurance, state-run behemoth Life Insurance Corporation (LIC) of India is optimistic of

from Business Line - Money & Banking https://ift.tt/2OiDjXC
Read more »

Covid impact: Loan appraisal norms will undergo a change, say bankers

For companies applying for new loans as well seeking a hike existing loan limits, banks will need to take new a new approach

from Business Line - Money & Banking https://ift.tt/38NtFFH
Read more »

Life insurance sector witnesses 18.6 per cent drop in first-year premium: CARE Ratings

"The life insurance sector continues to report a drop in their first-year premium collection as businesses have been severely impacted by the COVID-19 pandemic.

from Banking/Finance-Industry-Economic Times https://ift.tt/3iRbUKe
Read more »

Eight shortlisted for RBI deputy governor post; interview on July 23

A search panel headed by the cabinet secretary is scheduled to interview eight shortlisted candidates on July 23 for the post of RBI deputy governor,

from Business Line - Money & Banking https://ift.tt/2CrBXa6
Read more »

IL&FS may add another road asset to proposed InvIT list

Facing delays in finalising bidder due to COVID-19, cash-strapped IL&FS Group is looking at including one more road project - Pune Sholapur Road Development to its proposed infrastructure investment trust (InvIT).

from Banking/Finance-Industry-Economic Times https://ift.tt/325WEDn
Read more »

Covid lockdown, compression in economic growth may result in higher NPA: RBI Governor Shaktikanta Das

The RBI governor said Indian companies respond better in crisis, citing example of pharma companies during lockdown.

from Banking & Finance – The Financial Express https://ift.tt/3gOYSuT
Read more »

Utkarsh Small Finance Bank raises Tier II capital worth Rs 195 crore

USFBL, a scheduled commercial bank started its banking operations in January 2017 post receiving the small finance bank licence from Reserve Bank of India.

from Banking & Finance – The Financial Express https://ift.tt/2OhwGVe
Read more »

Saturday, July 11, 2020

Banks need to raise capital on anticipatory basis: RBI Governor Shaktikanta Das

"In such a situation, it has become a lot more important that the banks have to improve their governance, sharpen their risk management skills and banks have to raise capital on an anticipatory basis instead of waiting for a situation to arise. "Proactively, it is necessary for both public and private sector banks to build up adequate capital buffers," Das said at SBI's banking and economic conclave.

from Banking/Finance-Industry-Economic Times https://ift.tt/2ZkJbFK
Read more »

RBI Governor explains what banks should do to mitigate risks arising out of Covid-19

The economic impact of the pandemic - due to lock-down and anticipated post lock-down compression in economic growth - may result in higher non-performing assets and capital erosion of banks, he said.

from Banking & Finance – The Financial Express https://ift.tt/2W3WsRh
Read more »

Duplicate State Bank of India branch busted; son of ex-bank employee caught running fake division

A duplicate branch of State Bank of India, running for the past three months, was identified and closed down by the Tamil Nadu police yesterday and three people were arrested in the case.

from Banking & Finance – The Financial Express https://ift.tt/2BQiD6F
Read more »

TNGB on an aggressive growth path; reports ₹150 crore profit

Tamil Nadu Grama Bank (TNGB) clocked a net profit of ₹150 crore in its first year of operation.The Salem-headquartered bank is an amalgamated entity

from Business Line - Money & Banking https://ift.tt/2CmXXmw
Read more »

RBI is trying to find workable solution for PMC bank: Governor Shaktikanta Das

Scam-hit Punjab and Maharashtra Co-operative (PMC) Bank’s losses are very high, eroding deposits by more than 50 per cent, according to Governor Shak

from Business Line - Money & Banking https://ift.tt/2ZleZuu
Read more »

China central bank cuts HDFC stake to below 1%

People’s Bank of China (PBoC), the Chinese central bank that owned a little over 1% in mortgage finance leader HDFC as of March-end, has sold some shares from its holding during the April-June quarter. This has resulted in its stake in the blue-chip company coming down to below 1%. As per Sebi, all listed companies need to disclose entities that hold at least 1% equity.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2WaSvdo
Read more »

Build buffers, raise capital on anticipatory basis, says RBI Governor to banks

Reserve Bank of India (RBI) Governor Shaktikanta Das has asked banks and financial institutions to build buffers and raise capital on an anticipatory

from Business Line - Money & Banking https://ift.tt/323k6kJ
Read more »

RBI guv calls for resolution corp for stressed lenders

Reserve Bank of India governor Shaktikanta Das has made a case for a resolution corporation that will revive stressed banks and finance companies as an alternative to the traditional practice of merging failed institutions with stronger ones.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3gKNGiU
Read more »

Indian economy showing signs of returning to normalcy: RBI Governor

Banks will also have to raise capital in an anticipatory basis instead of waiting for a situation to arise, says Shaktikanta Das

from Business Line - Money & Banking https://ift.tt/32dwDlo
Read more »

RBI Governor Shaktikanta Das decodes why banks are rushing to raise capital; warns NPAs set to rise

Decoding why a large number of lenders have been rushing to raise capital, Reserve bank of India (RBI) Governor Shaktikanta Das, today said that the central bank asked lenders to chalk out plans and keep adequate capital ready to deal with any shocks that come up owing to the coronavirus pandemic.

from Banking & Finance – The Financial Express https://ift.tt/3ektume
Read more »

Will be mindful while dealing with highly-leveraged companies: Uday Kotak

Indian banks are facing uncertainty with the Reserve Bank of India providing moratorium on payments for six months. But at the same time many private lenders such as Kotak itself Bank and Axis Bank and ICICI Bank are raising capital to meet unforeseen surge in defaults.

from Banking/Finance-Industry-Economic Times https://ift.tt/3gFJz7Q
Read more »

No need for system-wide moratorium, but some sectors will continue to need support: SBI chief

In the retail segment, SBI has observed that its borrowers are hesitant to increase their liabilities and a large number of people are paying.

from Banking & Finance – The Financial Express https://ift.tt/3fheF5u
Read more »

Friday, July 10, 2020

India Inc wary of disclosing whistleblower plaints

Study on 50 NSE-listed firmsshows only 32% revealed details

from Business Line - Money & Banking https://ift.tt/3eiBrsn
Read more »

PNB revises provision amount for DHFL Borrowal Fraud

A day after reporting a Borrowal Fraud of ₹3,688.58 crore in the NPA Account of Dewan Housing Finance Ltd (DHFL), Punjab National Bank (PNB) has now r

from Business Line - Money & Banking https://ift.tt/2OchJ6P
Read more »

Blanket moratorium extension till December not required: SBI Chairman Rajnish Kumar

SBI recorded a moratorium book of roughly 20% at the end of May. This may further fall in 2nd leg of EMI-pause.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Cl1eTl
Read more »

Top 5 private banks stare at NPAs doubling to 5% in FY21

These five banks -- HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank and IndusInd Bank -- collectively control a quarter of the system and three-fourths of the private banking space, according to a report by India Ratings on Friday.

from Banking/Finance-Industry-Economic Times https://ift.tt/3ecb4Ed
Read more »

How the FPO price of YES Bank implies a huge dilution for existing investors

In a bid to draw in investors for its follow-on public offer (FPO), YES Bank has set the price band at Rs 12-13 per share -- half the current market p

from Business Line - Money & Banking https://ift.tt/324XhwM
Read more »

EMI moratorium: IRDAI modifies norms of group credit life schemes

The Insurance Regulatory and Development Authority of India (IRDAI) has on Friday modified norms of group credit life schemes to align coverage in li

from Business Line - Money & Banking https://ift.tt/2ZfghH3
Read more »

Q1 numbers of insurers call for caution

Short-term strategies, addressing reinsurance hassles, cost rationalisation vital

from Business Line - Money & Banking https://ift.tt/2CmQe7Y
Read more »

Edelweiss Tokio Life combines life cover with customised pay-outs

Keen to become comprehensive income solutions provider, says MD & CEO Sumit Rai

from Business Line - Money & Banking https://ift.tt/2ZVY0Ob
Read more »

RBI extends validity of the Directions issued to Sri Guru Raghavendra Sahakara Bank

The Reserve Bank of India (RBI) extended the validity of its Directions to Bengaluru-based Sri Guru Raghavendra Sahakara Bank Niyamitha for a further

from Business Line - Money & Banking https://ift.tt/324TXBS
Read more »

As public sector banks slash home loan rates, borrowers with housing finance companies are keen to shift their accounts

Home loan borrowers with housing finance companies (HFCs) and non-banking lenders are a worried lot. With most public sector banks (PSBs) and a few pr

from Business Line - Money & Banking https://ift.tt/2O854lo
Read more »

Bank of Maharashtra board approves plan to raise up to Rs 3,000 cr via equity sale, bond issuance

The board of directors at a meeting on Friday considered and approved "raising of capital in aggregate up to Rs 2,000 crore by way of preferential allotment to the Government of India/FI/others/or by way of qualified institutional placement issue/further public issue/rights issue and or/additional tier-1 bonds", the bank said in a regulatory filing.

from Banking & Finance – The Financial Express https://ift.tt/2W55ZHI
Read more »

People’s Bank of China cuts stake in HDFC

The People’s Bank of China (PBOC) has dropped off the list of investors holding at least a 1% stake in the company as of end-June. The PBOC held about 17.5 million shares, accounting for a 1.01% shares, at end-March. It cannot be ascertained if the Chinese central bank continues to hold any stake in the mortgage lender or not.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2ZUMxi6
Read more »

Union Bank of India, BoB trim MCLR across tenors

Union Bank of India (UBI) and Bank of Baroda (BoB) have cut their marginal cost of funds based lending rate (MCLR) by 20 basis points (bps) and 5 bps,

from Business Line - Money & Banking https://ift.tt/38HFcWU
Read more »

Karnataka Bank Q1 net up 12%

Karnataka Bank Ltd registered a net profit of ₹196.38 crore in the first quarter of 2020-21 as against a net profit of ₹175.42 crore in in the corresp

from Business Line - Money & Banking https://ift.tt/38J0gfF
Read more »

Canara Bank, BoM and SBI announce fund raising plans

Canara Bank and Bank of Maharashtra (BoM) on Friday announced fund raising plans amounting to ₹8,000 crore and ₹3,000 crore, respectively, via equity

from Business Line - Money & Banking https://ift.tt/2ZiqJ0N
Read more »

Banks’ Q1 results: Muted growth expected; focus on moratorium and repayment trends

Banks are likely to have registered muted growth in the first quarter of the fiscal, and asset quality would be a key focus area. While they are expec

from Business Line - Money & Banking https://ift.tt/3eiEjp3
Read more »

Digital payments surpass govt’s target for FY20

Digital transactions in the country jumped to 4,572 crore, or close to 46 billion, surpassing the target for fiscal 2020, according to a letter from the ministry of electronics and IT sent to bank chiefs last week. Overall transactions grew 46% over the previous year, reiterating the focus on digital payments, which the govt has been pushing since demonetisation in 2016.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2DjW22v
Read more »

Punjab & Sind Bank declares NPA account Maha Associated Hotels as 'fraud'

"It is informed that an NPA account Maha Associated Hotels Pvt Ltd with outstanding dues of Rs 71.18 crore having provisioning of Rs 44.40 crore has been declared as fraud and reported to RBI as per regulatory requirement", the bank said in an exchange filing.

from Banking/Finance-Industry-Economic Times https://ift.tt/3feERh6
Read more »

Kotak Mahindra Bank to use new lending filters in post-Covid world

Managing Director Uday Kotak says financial sector will require recapitalisation

from Business Line - Money & Banking https://ift.tt/3iOCzHC
Read more »

YES Bank sets floor price of ₹12 per share for FPO

YES Bank has set a floor price of ₹12 per share for its planned follow-on public offer (FPO) with a cap price of ₹13 per share.The decision was taken

from Business Line - Money & Banking https://ift.tt/2DswVL8
Read more »

Global banks may see credit losses of $2.1 trillion, warns S&P

Global banks could see credit losses of about $2.1 trillion for 2020 and 2021 spurred by the Covid-19 pandemic, with $1.3 trillion for this year, more

from Business Line - Money & Banking https://ift.tt/3edmwzp
Read more »

PNB Housing Finance looks to raise ₹1,700 crore capital

Approaches promoter PNB for participation; sees early signs of real estate sector bottoming out

from Business Line - Money & Banking https://ift.tt/2W5aJwT
Read more »

Pandemic has given golden opportunity for fintech industry to re-invent itself: Clix Capital

Clix Capital Services Pvt Ltd has a rich pedigree. Formerly known as GE Money Financial Services Pvt Ltd, its parent, the GE group, sold the business

from Business Line - Money & Banking https://ift.tt/3fgx81L
Read more »

Thursday, July 9, 2020

WhatsApp’s conversational banking gains currency during lockdown

Financial services firms see a spurt in use of the channel by their customers

from Business Line - Money & Banking https://ift.tt/3ehK862
Read more »

IRDAI forms panel on ‘Indian Pandemic Risk Pool’

The Insurance Regulatory and Development Authority of India (IRDAI) has formed a working group to examine the feasibility of ‘Pandemic Risk Pool’“Th

from Business Line - Money & Banking https://ift.tt/3iHLVoF
Read more »

Covid-19 impact: 1st year premium of life insurers down 18.45% in Q1

The first year premium of life insurers declined 18.64 per cent in the first quarter of the current financial year ended June 30, 2020 compared with

from Business Line - Money & Banking https://ift.tt/2W3OWWy
Read more »

ED attaches assets belonging to Rana Kapoor, Wadhawans

The Enforcement Directorate has attached assets worth ₹2,203 crore belonging to former YES Bank promoter Rana Kapoor, in the private lender fraud ca

from Business Line - Money & Banking https://ift.tt/32dpIZR
Read more »

Punjab National Bank declares its Rs 3,688 crore exposure to DHFL as fraud

The state-run lender said the company was being reported as a fraudulent account to the Reserve Bank of India. Under the rules set by the banking regulator 100% provisioning is required in fraudulent accounts spread across a period of four quarters. The lender has so far made a provision of Rs 1246 crore in the account.

from Banking/Finance-Industry-Economic Times https://ift.tt/3edpV1s
Read more »

Former RBI governor Rangarajan gets the first Mahalanobis award

The first Prof PC Mahalanobis National Award in Official Statistics for lifetime achievement was conferred on former RBI Governor C Rangarajan.In a pr

from Business Line - Money & Banking https://ift.tt/3iIczh0
Read more »

Punjab National Bank board approves Rs 10,000 crore fundraising plan

The bank will seek shareholders' nod for raising of equity capital for an amount up to Rs 7,000 crore in the forthcoming annual general meeting.

from Banking & Finance – The Financial Express https://ift.tt/2BUNhvp
Read more »

PNB looks to raise up to ₹10,000 crore

The board of directors of Punjab National Bank (PNB), the country’s second largest bank, on Thursday gave its nod for the bank to undertake capital ra

from Business Line - Money & Banking https://ift.tt/2ObMxou
Read more »

PNB Housing Finance actively looking to sell down corporate assets and raise focus on mass housing segment

The company said there are early signs of real estate sector bottoming out after seven years of muted performance. Housing finance business is improving month on month but on the overall basis the disbursements are expected to degrow during the year, the mortgage lender said, after its board okayed the revised business plan for FY21.

from Banking/Finance-Industry-Economic Times https://ift.tt/31YFyHk
Read more »

Mastercard commits ₹250 crore to support small businesses in India

Investment reaffirms the company’s global commitment to support SMEs’ business continuity and financial security

from Business Line - Money & Banking https://ift.tt/2OfAy97
Read more »

YES Bank FPO to open on July 15

 Private sector lender YES Bank follow on public offer will open on July 15 and close on July 17.It plans to raise as much as ₹15,000 crore, by way of

from Business Line - Money & Banking https://ift.tt/2OcWBxa
Read more »

NBFC loan sanctions fell 15% in Q4 FY20: FIDC

Loan sanctions by non-banking finance companies fell 15 per cent in the fourth quarter of 2019-20.Data released by the Finance Industry Development Co

from Business Line - Money & Banking https://ift.tt/3iFmiEV
Read more »

Why don’t banks cut lending rates after RBI repo rate cuts? Well, they do, only some time later

In the last financial year 2019-20, the Reserve Bank of India first cut repo rates thrice, announcing one cut of 35 bps, and two of 25 bps each, bringing the policy rate down from 6% in April 2019 to 5.15 per cent

from Banking & Finance – The Financial Express https://ift.tt/3e75Nhm
Read more »

ED attaches over Rs 2,200 crore assets of Rana Kapoor, others in Yes Bank PMLA case

The ED has accused Rana Kapoor, his family members and others of laundering proceeds of crime worth Rs 4,300 crore by receiving alleged kickbacks in lieu of extending big loans through their bank that later turned into non-performing assets (NPA).

from Banking/Finance-Industry-Economic Times https://ift.tt/3iEjF66
Read more »

Unruly behaviour: FinMin asks States to take steps to ensure safety of bankers

On the heels of several instances of anti-social elements behaving in an unruly manner with bankers coming to light, the Finance Ministry has asked th

from Business Line - Money & Banking https://ift.tt/38CG13s
Read more »

Banks exceed digital transaction target set for 2019-20

ICICI Bank tops MeitY scorecard, HDFC Bank comes second

from Business Line - Money & Banking https://ift.tt/3efjjQ1
Read more »

Why Centre’s ₹12,450-crore recap of 3 PSU general insurers is imperative

Poor earnings performance, weak solvency ratio and falling market share are key concerns

from Business Line - Money & Banking https://ift.tt/3ekuM0V
Read more »

Lending: Banks respond with alacrity to 160 bps repo rate-cut in FY20: CARE Ratings

Banks have responded with a good deal of alacrity on the lending side to the cumulative 160 basis points repo rate-cut in FY20, according to CARE Rati

from Business Line - Money & Banking https://ift.tt/2Dgec5d
Read more »

Assault on bankers has got FinMin worried: ‘Safety of bankers must; banks crucial for economy’

After various assault instances on bankers surfaced in the country in recent time, the Finance Ministry has directed states to ramp up security measures for banks’ personnel.

from Banking & Finance – The Financial Express https://ift.tt/2Dh4L5w
Read more »

Chinese PoS devices here to stay as cheaper options not on cards

Amid growing demand for digital payments in India, these swipe machines are the key hardware to process credit and debit card-based transactions at malls and retail stores. Following the government’s directive to reduce dependence on Chinese goods, payments providers are looking at alternative options, but pricing and legacy challenges may prevent any immediate migration, multiple industry sources told ET.

from Banking/Finance-Industry-Economic Times https://ift.tt/2BUiP4B
Read more »

Improving collections at NBFCs, small lenders signal a pickup

Collections were the highest in asset-backed securities and non-MFI loans at nearly 70%, followed by mortgage-backed loans at 60% and small-ticket borrowing at about 50%.

from Banking/Finance-Industry-Economic Times https://ift.tt/3ee0I6M
Read more »

Health insurers feel the brunt as Covid claim amounts triples to Rs 562 cr in a month

Maharashtra, the state with the highest number of cases, alone reported 15,753 claims worth ₹195 crore, followed by Delhi, the worst-affected city, which submitted 5,909 claims worth ₹134 crore. Other states with a high number of claims include Tamil Nadu, Karnataka, Haryana and West Bengal.

from Banking/Finance-Industry-Economic Times https://ift.tt/2CjXukS
Read more »

South Indian Bank net profit rises 11.5% to Rs 81.65 cr in Q1

VG Mathew, MD & CEO, while announcing the results mentioned that there has been good growth in the retail, agriculture and MSME portfolios.

from Banking & Finance – The Financial Express https://ift.tt/2O9Y9Il
Read more »

Wednesday, July 8, 2020

Finance ministry asks states to ensure safety of bankers and stern action against unruly

The Department of Financial Services in a letter to chief secretary of states said that incidences of unruly behaviour of anti-social elements against the bankers needs to be responded with stern action taken against such elements, sources said.

from Banking/Finance-Industry-Economic Times https://ift.tt/2VVXb6L
Read more »

Yes Bank puts up for auction two aircraft of Ligare Voyages

The auction notice did not mention the amount of credit facilities granted by Yes Bank to Ligare Voyages Ltd. It is a group company of RHC Holding Pvt Ltd, which is promoted by brothers Shivinder Mohan Singh and Malvinder Mohan Singh. Ligare Voyages is into the business of providing air charter services since 2006-07, according to RHC Holding website.

from Banking/Finance-Industry-Economic Times https://ift.tt/3ea7cUp
Read more »

IRDA constitutes working group to explore a Pandemic Risk Pool

The nine-member working group is headed by IRDA’s executive director Suresh Mathur and has representatives from regulators, reinsurers and insurance companies.

from Banking/Finance-Industry-Economic Times https://ift.tt/3iFYwbL
Read more »

ICICI Bank to raise up to Rs 15,000 crore to bolster capital base

The lender joins peers, including Axis Bank, Kotak Mahindra Bank, Federal Bank and Yes Bank, who have either raised fresh capital or decided to do so soon, amid the COVID-19 pandemic.

from Banking & Finance – The Financial Express https://ift.tt/3gF9fBC
Read more »

SBI to digitise MSME lending, putting senior people to drive growth

SBI’s SME portfolio shrank over 7% in FY20 to Rs 2.68 lakh crore from Rs 2.89 lakh crore. About 9.5% of this portfolio turned non-performing. The country’s biggest mass lender is also working on unveiling a pre-approved merchant loan through its Yono platform.

from Banking/Finance-Industry-Economic Times https://ift.tt/329oIG7
Read more »

SBI to invest Rs 1,760 crore in Yes Bank

State Bank of India (SBI), country’s largest lender’s executive committee has approved a further investment of upto Rs 1,760 crore in public offering of Yes Bank, according to a regulatory filing.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2W0wtKi
Read more »

ICICI Bank to raise ₹15,000 crore as capital

Private sector lender ICICI Bank plans to raise as much as ₹15,000 crore of capital.The decision was taken at a meeting of its board of directors on

from Business Line - Money & Banking https://ift.tt/3fdMd4j
Read more »

Moody's warns banks of increased cyber risks

These attacks can be in the form of phishing emails, malware attacks and social engineering frauds as well, Moody’s said on Tuesday. Moreover, Banks’ digital customers are a natural target for fraudsters, they said. Cyberattacks are mostly financially motivated and seek easily monetized data stored by the victim organizations.

from Banking/Finance-Industry-Economic Times https://ift.tt/2BPuQbE
Read more »

Collection efficiency of Bandhan Bank improves for all advances

The bank said that nearly 70 per cent of its customers have started repaying their loans. For non-micro banking advances, the collection efficiency for June was 84 per cent, according to the bank.

from Banking & Finance – The Financial Express https://ift.tt/3gCMn5v
Read more »

SBI to invest up to ₹1,760 crore in Yes Bank

FPO likely by July 15

from Business Line - Money & Banking https://ift.tt/3eaNhob
Read more »

South Indian Bank posts 11% growth in net profit in Q1

South Indian Bank has registered a 11 per cent growth in its net profit in Q1 at ₹81.65 crore against ₹73.26 crore during the corresponding period of

from Business Line - Money & Banking https://ift.tt/2Z7bRSF
Read more »

Bank of Maharashtra sanctions ₹2,779 cr to MSMEs during pandemic

Bank of Maharashtra (BoM) has sanctioned MSME loans to the tune of ₹2,779 crore and disbursed ₹2,327 crore during the Covid-19 crisis period.The Bank

from Business Line - Money & Banking https://ift.tt/2ZNXq59
Read more »

Government releases Rs 6,195.08 crore to 14 states as fourth equated monthly installment of the Post Devolution Revenue Deficit Grant

The grant was recommended by the 15th Finance Commission. On Wednesday, the Centre released advance payments of over Rs 1,276 crore to Kerala, followed by over Rs 952 crore to Himachal Pradesh and over Rs 638 crore to Punjab. Assam received Rs 631 crore, Andhra Pradesh Rs 491 crore, Uttarakhand Rs 423 crore, and West Bengal got Rs 417 crore

from Banking/Finance-Industry-Economic Times https://ift.tt/2VVQXnK
Read more »

ED confiscates over Rs 329cr assets of Nirav Modi

The ED on Wednesday said it has confiscated assets worth Rs 329.66 crore of diamond merchant Nirav Modi under the fugitive economic offenders law. The businessman and his uncle Mehul Choksi among others are being probed by the ED on money laundering charges in connection with an over $2 billion alleged bank fraud at a PNB branch in Mumbai.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2CdGlte
Read more »

Yes Bank to raise upto ₹15,000 crore through FPO

Private sector lender Yes Bank has filed the offer document for its planned follow on public offer with the Registrar of Companies and could raise bet

from Business Line - Money & Banking https://ift.tt/31Zokts
Read more »

Bank of Maharashtra sanctions Rs 2,779 crore since March

The loans to MSMEs were offered majorly under the government's Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) and the lender's emergency credit line for COVID-19. Since the declaration of lockdown, the bank has sanctioned additional loans to its customers, including MSMEs, agriculture and personal borrowers.

from Banking/Finance-Industry-Economic Times https://ift.tt/2W0rg5r
Read more »

Karur Vysya Bank in corporate agency pact with Bajaj Allianz Life

Karur Vysya Bank, an old private sector bank, has signed up a corporate agency partnership with Bajaj Allianz Life to offer life insurance solutions

from Business Line - Money & Banking https://ift.tt/3e8DTS9
Read more »

57% of Indian consumers use digital payment 5-6 times a week, says India Transact Services survey

Digital payments have witnessed a massive boom amid the Covid-19 pandemic according to a survey by merchant payments solution company India Transact S

from Business Line - Money & Banking https://ift.tt/3gGhnlo
Read more »

SBI cuts MCLR by 5-10 bps for shorter tenors

The country's largest lender State Bank of India (SBI) on Wednesday said it has reduced its marginal cost of funds based lending rate (MCLR) by 5-10 basis points (bps) for shorter tenors from July 10.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/31Xrxdg
Read more »

SBI cuts MCLR by 5-10 bps

State Bank of India (SBI) has decided to reduce its marginal cost of funds-based lending rate (MCLR) by 5-10 basis points (bps) in the shorter tenors

from Business Line - Money & Banking https://ift.tt/2O16bDw
Read more »

SBI cuts MCLR by 5-10 bps for shorter tenors

The country’s largest lender State Bank of India (SBI) on Wednesday said it has reduced its marginal cost of funds based lending rate (MCLR) by 5-10

from Business Line - Money & Banking https://ift.tt/38AL5VW
Read more »

YES Bank to raise close to ₹15,000 crore via FPO

Scrip down 1.36 per cent in early morning trade on BSE

from Business Line - Money & Banking https://ift.tt/3gDfMwt
Read more »

Future Generali Insurance announces promotion, pay hike for employees

The company has decided not to compromise on hiring and plans to recruit employees as per the business requirement

from Business Line - Money & Banking https://ift.tt/2BRgAPF
Read more »

Tuesday, July 7, 2020

Borrowers opting out of loan moratorium with unlocking of economy, say bankers

According to Punjab National Bank Managing Director S S Mallikarjuna Rao, only 30 per cent of borrowers utilised moratorium facility while 70 per cent continued to service their loans. The bank had given the option of availing the option of loan moratorium to all its customers, he had said last month.

from Banking/Finance-Industry-Economic Times https://ift.tt/2O4iJtG
Read more »

Economy picking up? Bankers say borrowers opting out of loan moratorium 

The government imposed the lockdown on March 25 to contain coronavirus infection and later extended it till May-end. The country started reopening the economy under unlock 1.0 from June with restrictions remaining in containment zones.

from Banking & Finance – The Financial Express https://ift.tt/2VUCIPU
Read more »

Corona Kavach will be an affordable, well-defined cover

GIC to suggest treatment costs

from Business Line - Money & Banking https://ift.tt/2ABjGqg
Read more »

B Sankar takes charge as Chief GM of SBI Chennai Circle

State Bank of India on Tuesday announced that B Sankar has assumed charge as Chief General Manager of the bank’s Chennai Circle. Earlier, Sankar serv

from Business Line - Money & Banking https://ift.tt/3f9SNJ3
Read more »

Covid-19 impact: Insurers get claims worth ₹350 crore

Expect further rise in days to come

from Business Line - Money & Banking https://ift.tt/3fcAKSA
Read more »

How can you improve your economic competence all by yourself!

Many of us keep on working from home. During this time, some have learned a foreign language, others have discovered a new hobby, and still, others have even...

from Banking/Finance-Industry-Economic Times https://ift.tt/3gycRVS
Read more »

ICICI Bank to reward 80k employees with up to 8% pay hike for work done during COVID-19

The hike of up to 8 per cent is for the fiscal year 2020-21 and applicable from July onwards, the sources said. An e-mail sent to the bank did not elicit any response. The sources said these employees are from M1 and grades below, who are frontline staff mostly in customer-facing roles. They ensure the functioning of branches and other operations of the bank.

from Banking/Finance-Industry-Economic Times https://ift.tt/3gAsMTD
Read more »

ICICI Bank to reward 80k employees with up to 8% pay hike for work done during COVID-19

These employees form over 80 per cent of its overall workforce and the decision has been taken in recognition of the services rendered during the COVID-19 pandemic, the sources told PTI.

from Banking & Finance – The Financial Express https://ift.tt/2O4n68c
Read more »

ECLGS: Loan sanctioned touch ₹1.14-lakh crore

Maharashtra continues to top the chart in terms of loans sanctioned

from Business Line - Money & Banking https://ift.tt/2ZJS2jr
Read more »

IL&FS case: SEBI can increase penalties imposed on India Ratings, rules SAT

The Securities Appellate Tribunal (SAT) has ruled in favour of the Securities and Exchange Board of India (SEBI) enhancing penalties on credit rating

from Business Line - Money & Banking https://ift.tt/3fdUpli
Read more »

Fino Payments Bank launches a savings account for minor children

Fino Payments Bank has announced a savings account for minor children aged between 10 and 18 years.“Bhavishya, a subscription-based savings account, i

from Business Line - Money & Banking https://ift.tt/31VA5RE
Read more »

L&T Infra Finance gets $50 m from AIIB

L&T Infrastructure Finance (LTIF), the wholly owned subsidiary of L&T Finance Holdings, has received the first tranche of $50 million ECB loan

from Business Line - Money & Banking https://ift.tt/2DjuMRR
Read more »

Covid-19 impact: PE/VC capital piles up on fewer deals; fund-raising to stay muted this year

More than half of the respondents in the private equity and venture capital space see investments in India declining in the next 6-12 months, accordin

from Business Line - Money & Banking https://ift.tt/3e3Nvxn
Read more »

Private equity investments down 65% in April-June 2020, says Refinitiv

Private equity investments in aggregate declined 64.9 per cent on a year-on-year basis in April-June 2020 at $1.45 billion, data from Refinitiv, a pro

from Business Line - Money & Banking https://ift.tt/3edslx6
Read more »

India Post adds highest number of outlets in five years in FY19

Eyes higher e-commerce and payments bank business

from Business Line - Money & Banking https://ift.tt/38xB9MS
Read more »

China central bank buying stakes in Indian cos

In mid-April, stock exchange disclosures revealed that the People’s Bank of China had a holding of over 1% in Indian mortgage finance major HDFC. But the Chinese central bank also holds stakes in several other listed companies. However, these are all below the radar since they are less than the 1% threshold limit for open disclosures by companies.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3iFHmLc
Read more »

Bank unions urge Kerala government to close branches in triple lockdown areas

United Forum of Bank Unions has urged the Kerala Chief Minister to close bank branches functioning in triple lockdown areas and containment zones so a

from Business Line - Money & Banking https://ift.tt/2DkRlWt
Read more »

ICICI Bank’s WhatsApp banking platform crosses 10 lakh users

Private sector lender ICICI Bank, on Tuesday, said its WhatsApp banking platform has crossed 10 lakh users. “The bank introduced banking services on W

from Business Line - Money & Banking https://ift.tt/38FszvB
Read more »

SBI readies Rs 1k-cr B2B e-market only for MSMEs

State Bank of India (SBI) is set to invest $100-150 million (Rs 750-1,000 crore) and leverage its YONO platform to set up a business-to-business (B2B) e-commerce marketplace for micro, small and medium enterprises (MSMEs). The country’s largest lender hopes this will also help it better manage financing of small businesses.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3izZyG9
Read more »

Trading at 74.7 vs dollar, rupee exhibits bullish bias

The rupee (INR) began Tuesday’s session on a flat note at 74.7 versus yesterday’s close of 74.68 against the dollar (USD). Since INR stays above the i

from Business Line - Money & Banking https://ift.tt/3f8noGV
Read more »

PNB board to consider raising capital on July 9

State-owned Punjab National Bank (PNB) on Monday said its board will consider a proposal to raise capital through a mix of both equity and debt on J

from Business Line - Money & Banking https://ift.tt/3iFDMkj
Read more »

Bandhan Bank’s loans & advances grow 18% in Q1

Private sector lender Bandhan Bank on Monday said its loans and advances grew 18% year-on-year to Rs 74,325 crore for the first quarter this fiscal, from Rs 63,164 crore for the same period last fiscal.

from Banking & Finance – The Financial Express https://ift.tt/31YeqIq
Read more »

IDBI Trusteeship Services releases 12.5 lakh pledged shares of Max Financial

IDBI Trusteeship Services Ltd (ITSL) has released 12.5 lakh pledged shares of Max Financial Services Ltd (MFSL), according to a regulatory filing. “12

from Business Line - Money & Banking https://ift.tt/3fj0pJz
Read more »

Monday, July 6, 2020

Bandhan Bank Q1 loans increase 18 per cent, deposits up 35 per cent

Reports improvement in collection efficiency

from Business Line - Money & Banking https://ift.tt/2Z1578R
Read more »

Injeti Srinivas appointed as Chairman of International Financial Services Centres Authority

The Appointments Committee of the Cabinet has approved the appointment of Injeti Srinivas, a retired IAS officer, as Chairman of International Financi

from Business Line - Money & Banking https://ift.tt/3iCIS0X
Read more »

Canara Bank, BoM and KVB cut MCLRs

Canara Bank and Bank of Maharashtra (BoM) have announced a cut in their marginal cost of funds based lending rate (MCLR) across all tenors by 10 basis

from Business Line - Money & Banking https://ift.tt/2CauvAd
Read more »

Canara Bank, Bank of Maharashtra cut MCLR

Overnight and one-month lending rates have been cut by 10 basis points to 7.20 per cent each. Three months MCLR rate has been revised to 7.45 per cent from 7.55 per cent, Canara Bank said in a release.

from Banking & Finance – The Financial Express https://ift.tt/2ZGbI7P
Read more »

Aye Finance raises ₹125 crore from Germany-based impact investor

Aye Finance, a new-age non banking finance company, has raised over ₹125 crore in debt from Germany-based impact investor, Invest in Visions.This Capi

from Business Line - Money & Banking https://ift.tt/2O0sCIQ
Read more »

Bus, car operators seek extension in validity of motor insurance

Amidst the Covid-19 led crisis, Bus and Car Operators Confederation of India has urged the insurance regulator IRDAI to extend the validity of vehicl

from Business Line - Money & Banking https://ift.tt/38y3X83
Read more »

IndusInd Bank’s Q1 net advances up 4%

IndusInd Bank reported a six per cent increase in deposits and a four per cent increase in net advances in the first quarter of the fiscal. In a regul

from Business Line - Money & Banking https://ift.tt/2Dg2JCT
Read more »

KVB ties up with Star Health Insurance

Karur Vysya Bank has entered into an arrangement with Star Health and Allied Insurance Co to offer a wide range of health insurance options to its cu

from Business Line - Money & Banking https://ift.tt/3iAbQOP
Read more »

SBM Bank India, Mastercard to facilitate cross border transactions, remittances

Remittances and payments businesses have become the cornerstone of SBM Bank India's growth strategy. As banking evolves to become more personal, platform-agnostic and always-on - the Bank has been leading the collaboration narrative to access the best-in-class solutions with its switching partner, YAP, the statement said.

from Banking/Finance-Industry-Economic Times https://ift.tt/38tmEK7
Read more »

SBM Bank India, Mastercard to facilitate cross border transactions, remittances

YAP is a API (application programme interface) infrastructure company. The company works with banks and financial institutions as product providers.

from Banking & Finance – The Financial Express https://ift.tt/2AymLrf
Read more »

Sensex surges 466 points to close at 36,487; Nifty ends above 10,750

Equity indices finished higher on Monday with the benchmark BSE Sensex rising over 500 points led by gains in financial, auto and metal stocks. The 30-share BSE index surged 466 points or 1.29% to close at 36,487; while, the broader NSE Nifty finished 156 points or 1.47% higher at 10,764. Top gainers included M&M, Bajaj Finance, Reliance, Maruti, TCS, Tata Steel and HDFC Bank.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2VPNAyu
Read more »

YES Bank launches instant loan disbursement facility

Private sector lender YES Bank has launched a solution for instant disbursement of retail loans for the bank’s pre-approved liability account holders.

from Business Line - Money & Banking https://ift.tt/3e3IBQX
Read more »

SBM Bank India, Mastercard to speed up cross border transactions, remittances

Government of Mauritius-promoted SBM Bank India and global payments technology major Mastercard have joined hands to facilitate cross-border paymen

from Business Line - Money & Banking https://ift.tt/2Bxm9Tj
Read more »

Businesses opt for gold loans to tide over Covid-induced liquidity crunch

Gold prices are hitting the roof, and so is the demand for gold loans. With individuals and small businesses facing liquidity challenges due to Covid-

from Business Line - Money & Banking https://ift.tt/31S2k3F
Read more »

Bombardier wins ₹2,051-cr contract to supply 201 Metro cars, signalling solution for Agra-Kanpur projects

Bombardier Transportation has received a Letter of Award from the Uttar Pradesh Metro Rail Corporation to build and deliver 201 Metro cars and an adva

from Business Line - Money & Banking https://ift.tt/3gypTmq
Read more »

Bharti Airtel, Vodafone Idea to register fall in wireless revenues in Q1: Emkay

Our BureauImpacted by the nationwide lockdown, wireless revenues for Bharti Airtel and Vodafone Idea Ltd (VIL) will register a fall in the first quar

from Business Line - Money & Banking https://ift.tt/38zsppI
Read more »

Agri bad loans shoot up for banks in FY20 as lending targets rise sharply

Many lenders had sought to clean up and consolidate their agri book in the previous fiscal

from Business Line - Money & Banking https://ift.tt/31MVwUV
Read more »

Lenders staring at additional Rs 1.67 lakh crore of bad debts due to Covid-19

The rating agency analysed top 500 debt-heavy private sector borrowers and said the additional stressed loans will take the cumulative quantum of delinquent loans to Rs 4.21 lakh crore over the FY21 and FY22.

from Banking/Finance-Industry-Economic Times https://ift.tt/2DesYcQ
Read more »

Covid will lead to additional ₹1.67-lakh crore of debt from top-500 debt-heavy private sector borrowers: India Ratings

Our BureauThe proportion of stressed debt of the top-500 debt-heavy private sector borrowers could jump to 18.21 per cent to 20.84 per cent of the out

from Business Line - Money & Banking https://ift.tt/2NV0IOq
Read more »

Value is available across market caps in the market: Union AMC

Large-cap stocks seem to be attractively priced, says CEO G Pradeepkumar

from Business Line - Money & Banking https://ift.tt/3iyomOW
Read more »

Paytm, Vijay Shekhar Sharma to acquire Raheja QBE General Insurance

Paytm, owned by One 97 Communications Ltd, along with its founder Vijay Shekhar Sharma, will acquire Mumbai-based private sector general insurance co

from Business Line - Money & Banking https://ift.tt/2AD29OE
Read more »

IndusInd Bank net advances up 4% in Q1

The IndusInd Bank scrip gained over 3 per cent on the BSE on Monday after the private sector lender reported a 6 per cent increase in deposits and a 4

from Business Line - Money & Banking https://ift.tt/3gthQa9
Read more »

WFH could ‘Uberise’ some bank jobs

SBI chairman Rajnish Kumar recently said in an interview that the bank was planning to move to a work-from-anywhere model rather than just work-from-home

from Banking/Finance-Industry-Economic Times https://ift.tt/3f2skwV
Read more »

ICICI Bank board meet on July 8 to consider fundraising

ICICI Bank on June 22 sold 1.5% stake in ICICI Prudential Life Insurance Company on the stock exchange for Rs 840 crore.

from Banking & Finance – The Financial Express https://ift.tt/38w52NF
Read more »

Sunday, July 5, 2020

Yes Bank puts up for sale properties of Avantha Group, RHC Holdings for recovery of over Rs 1,000 crore

In a sale notice to the public in general and in particular to Avantha Holdings Ltd (the borrower) and Avantha Realty (mortgager), Yes Bank said it took constructive possession of the property mortgaged to it on February 10, 2020 for recovery of Rs 548.30 crore.

from Banking/Finance-Industry-Economic Times https://ift.tt/31YO9dp
Read more »

Yes Bank puts up for sale properties of Avantha Group, RHC Holdings for recovery of over Rs 1,000 crore

The loan amount is due since October 31, 2019, along with further interest and cost due to the secured creditor (Yes Bank) from the borrower and mortgager, Yes Bank said.

from Banking & Finance – The Financial Express https://ift.tt/3f1dx5V
Read more »

ICICI Bank board to consider proposal to raise capital on Wednesday

While announcing its earnings for the fourth quarter and fiscal ended March 2020, ICICI Bank had said it will look at further strengthening the balance sheet as opportunities arise.

from Banking & Finance – The Financial Express https://ift.tt/2C9djuE
Read more »

Magma HDI General Insurance expects health segment to drive growth

Magma HDI General Insurance Company Ltd is expecting the share of health insurance to its total business to almost double by the end of this fiscal. H

from Business Line - Money & Banking https://ift.tt/2C99Vjq
Read more »

ICICI Bank board to meet on July 8 to discuss fund raising through equities

Amidst continuing economic uncertainty, the board of directors of ICICI Bank will be meeting on July 8 to discuss fund raising proposals.“A meeting of

from Business Line - Money & Banking https://ift.tt/31KVOvF
Read more »

DHFL defaults on repayment of NCDs worth ₹50 crore

Distressed Dewan Housing Finance Corporation Ltd (DHFL) has defaulted on payment for a principal amount of ₹50 crore of secured non-convertible debent

from Business Line - Money & Banking https://ift.tt/38s4Les
Read more »

Edelweiss Financial Services posts Q4 net loss of ₹2,281.55 crore

Edelweiss Financial Services reported a net loss of ₹2,281.55 crore in the fourth quarter of 2019-20 with a sharp rise in provisions and impairments.

from Business Line - Money & Banking https://ift.tt/31MYKbe
Read more »

Finmin may review capital requirement of PSU banks after second quarter

The finance ministry may assess the capital requirement of public sector banks after the September quarter as there would be greater clarity about a spike in bad loans by that time, sources said.

from Banking & Finance – The Financial Express https://ift.tt/38rnSW2
Read more »

Federal Bank total deposits up 17%, gross advances rise 8% in Q1 FY 21

Private sector lender Federal Bank reported a 17 per cent increase in its total deposits in the first quarter of 2020-21 and just an eight per cent in

from Business Line - Money & Banking https://ift.tt/3f1Hfr7
Read more »

DHFL defaults on NCD repayments of ₹50 cr

Says it can’t pay due to moratorium restrictions

from Business Line - Money & Banking https://ift.tt/38w2COQ
Read more »

Federal Bank bets on gold loans to drive credit demand in sluggish economy

The bank is targeting gold loan growth to touch 35 per cent during FY21 as against 29 per cent in FY20.

from Banking/Finance-Industry-Economic Times https://ift.tt/38vTXvO
Read more »

Saturday, July 4, 2020

COVID-19 caused huge demand destruction overseas: Bankers

Major central banks across the world were taking unprecedented steps to bring back their economies in good shape, Deputy MD of SBI (IBG) C Venkat Nageswar added.

from Banking/Finance-Industry-Economic Times https://ift.tt/3itoL56
Read more »

HDFC Bank Q1 deposits rise 25%, advances up 21%

Private sector lender HDFC Bank reported a 25 per cent increase in its deposits in the first quarter of the fiscal along with a 21 per cent increase

from Business Line - Money & Banking https://ift.tt/3eXJjkc
Read more »

HDFC Bank advances up 21% at Rs 10L cr by Q1-end

Private sector lender HDFC Bank on Saturday reported 21 per cent growth in its advances which totalled Rs 10.04 lakh crore on June 30 as compared to Rs 8.29 lakh crore a year ago and Rs 9.93 lakh crore on March 31.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Zz0thq
Read more »

RBI has its hands full with Urban Cooperative Banks now unambiguously its responsibility

RBI has been ‘vested powers to issues licence to UCBs under Section 22 and 23 Banking Regulation Act, 1949 to carry on banking business and to open new places of business (branches, extension counters, etc.) respectively.

from Banking & Finance – The Financial Express https://ift.tt/31Kwy8z
Read more »

Anil Ambani’s Reliance Infra defaults seven times to Yes Bank since February

Reliance Infrastructure's total borrowings from financial creditors stood at Rs 4,675 crore as on May 31, 2020, which included loans from Yes Bank, J&K Bank and SREI Equipment Finance.

from Banking & Finance – The Financial Express https://ift.tt/3iqP23X
Read more »

NPA crisis: When it comes to loan losses, PSBs are far ahead of private banks – Check numbers

The 12 PSBs together saw a 5% sequential decline in their gross NPAs, while the private pack’s NPA pile fell 6% from the end of the December quarter.

from Banking & Finance – The Financial Express https://ift.tt/2ZtjG3W
Read more »

Friday, July 3, 2020

Job losses, pay cuts impact? Bank deposits sink ₹74,727 cr as of June 19

Either people are dipping into savings or diversifying into MFs and stocks

from Business Line - Money & Banking https://ift.tt/3dYowM2
Read more »

Covid-19 impact: SBI expects flat growth in corporate loan book in FY21

State Bank of India expects a flat growth in its corporate loan book this fiscal due to the uncertainty triggered by the Covid-19 pandemic. The bank h

from Business Line - Money & Banking https://ift.tt/2NSsZ8n
Read more »

Multiplex players seek nod to reopen in non-containment zones



from Business Line - Money & Banking https://ift.tt/31HHLqs
Read more »

No relief for Mudra Shishu loan borrowers during moratorium

The subvention will begin from June for the next one year for borrowers that had opted out of the moratorium offer. RBI extended the moratorium benefit till August 31 for borrowers under stress. The ministry also said that banks, NBFC and MFI that channel Mudra loans to the bottom-of-the-pyramid borrowers cannot raise interest rates on Shishu loans till the subvention scheme remains operational.

from Banking/Finance-Industry-Economic Times https://ift.tt/2NQ6GQv
Read more »

Popular Posts

 
Desi Google | A2Z Famous Quotes | What's Cooking America | Joke Site