Efforts of banks under PCA frameworks are being monitored: RBI Governor

Reserve Bank of India Governor Shaktikanta Das has said four banks under the Prompt Corrective Action (PCA) framework are taking efforts and they are

from Business Line - Money & Banking https://ift.tt/2HIc31k

Read more »

SBI to increase safe deposit locker rental charges by 20 to 50 per cent

If you have a safe deposit locker with State Bank of India, be prepared to pay higher rentals asSBI has decided to increase locker rental charges by

from Business Line - Money & Banking https://ift.tt/2HHvdo5

Read more »

Government to seek NPA relief for companies hit by coronavirus

The government is going to seek a relaxation in rules for classification of bank loans to a certain set of companies as a “sub-standard” asset, citing difficulties faced by them. These entities are engaged in export and import, or are those that depend on raw materials and inputs, from China where businesses have been impacted due to the coronavirus outbreak.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3c0OVsA

Read more »

Farm loan waivers add Rs 60,762 crore to state-run banks' bad loans in Q3

New stress emerges in agriculture, MSME, commercial vehicle, telecom and realty.

from Banking/Finance-Industry-Economic Times https://ift.tt/37PI7ej

Read more »

Keen to leverage Federal Bank’snetwork, says IDBI Federal CEO

Will look at roping in a bank partner to improve distribution footprint, says Vighnesh Shahane

from Business Line - Money & Banking https://ift.tt/2v4iwko

Read more »

Xpay.Life bill payment product to take rural India digital

Thomas AbrahamAfter a year-long pilot spanning most States of the country, followed by a Beta launch and soft launch, Xpay.Life will now make a full-

from Business Line - Money & Banking https://ift.tt/2vP9sA3

Read more »

NCLT reserves its order on Wadhawan’s plea to be part of CoC of DHFL

Dheeraj Wadhawan, one of the directors and promoter of DHFL has approached the tribunal with the arguments that they be allowed to be part of the CoC meetings as the former board member of the company. The troubled home financier has been in a liquidity crisis for over a year. The RBI superseded its board on November 20 and placed it under an administrator.

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

Read more »

Despite decline in bank deposit rates, smallsavings see good inflows at 15.43% till Aug

Inflows into small savings schemes were up 15.43 per cent year-on-year (yoy) up to August-end 2019 vis-a-vis 9.85 per cent y-o-y growth in bank deposi

from Business Line - Money & Banking https://ift.tt/2HJeC3i

Read more »

Axis Bank, Max Life eye strategic partnership, pact signed

Max Financial Services holds a 72.5% stake in Max Life while Mitsui Sumitomo Insurance and Axis Bank hold 25.5% and 2% respectively.

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

Read more »

Supervision, not just regulations, key to financial system: Principal Economic Adviser Sanjeev Sanyal

The paper, therefore, pitched for a combination of simple but effective regulations and greater supervision as a necessary tool for a more vibrant financial system both in India and abroad.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/38MRLj9

Read more »

Pain for Asian banks is just starting as virus batters loans

S&P says relaxed standards may drag out repayments for years

from Business Line - Money & Banking https://ift.tt/2SM5D7O

Read more »

Muthoot Finance raises $550 million from international bond markets

The company had successfully placed $450 million for a three-year tenor at 6.125 per cent in October 2019

from Business Line - Money & Banking https://ift.tt/2umNCn6

Read more »

DoT calculates telcos’ dues for each circle

In perhaps the first step towards invoking bank guarantees of defaulting mobile companies over the adjusted gross revenue (AGR) matter, the department of telecom (DoT) has started circlewise calculation of dues of operators towards various statutory payments.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3bOpnyS

Read more »

Banks are closed for three days, more pain awaits next month

Banks branches will not be open for business today on account of Shiv Ratri. Tomorrow being the 4th Saturday, banks will remain shut. And obviously, they won't be open to customers on Sunday, a weekend. Some banking work like cheque clearance may get affected due to the same. Also get ready to face more inconvenience next month.

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

Read more »

Central Bank of India seeks bankers for stake sale in its mortgage arm

Central Bank of India is one of the lenders which is still facing operational curbs under the RBI’s prompt corrective action framework.

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

Read more »

Most members of RBI’s monetary policy committee see scope for more rate cuts

While unanimously voting to maintain a status quo on the policy repo rate, most members of the monetary policy committee (MPC) were of the view that t

from Business Line - Money & Banking https://ift.tt/2Pbm4YQ

Read more »

RBI clears Sunil Gurbaxani appointment Dhanlaxmi Bank MD

Dhanlaxmi Bank was removed from the RBI PCA framework, subject to certain conditions and continuous monitoring, as the bank is found to be not breaching any of the risk thresholds of the framework.

from Banking/Finance-Industry-Economic Times https://ift.tt/2V7hw9K

Read more »

HDFC Bank SME book doubles to Rs 1.48 lakh crore in under 3 years

According to the RBI data, the system-wide SME loan book stood at Rs 15.7 lakh crore as of June 2019, up 10 per cent over the 12 months' period.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/37JbTB6

Read more »

Deutsche Bank ‘steps up’ lending to Indian businesses facing tight liquidity conditions

India’s NBFC crisis and revitalised bankruptcy process are creating new opportunities for Deutsche Bank as it steps up lending to cash-strapped tycoo

from Business Line - Money & Banking https://ift.tt/38MR49p

Read more »

SBI Card, Landmark Group tie-up to launch retail co-branded credit cards

SBI Card has partnered with Landmark Group to launch retail co-branded credit cards. Lifestyle Home Centre SBI Card, Max SBI Card, and Spar SBI Card

from Business Line - Money & Banking https://ift.tt/2P7pSKz

Read more »

Axis Bank to explore long-term partnership with Max Life

Signs pact with Max Financial Services and Max Life

from Business Line - Money & Banking https://ift.tt/39JD7sS

Read more »

SBI Cards IPO to open on March 2

The Rs 9,000-crore initial public offering (IPO) of SBI Cards and Payment Services, the credit card unit of the country’s largest lender State Bank of

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

Read more »

Have You Heard of This Festival?

“Mirror, mirror on the wall, who’s the biggest saver of them all?” ”Holidays are over and boy did you shop! Fancy cosmetics and clothes for the women in your...

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

Read more »

HDFC Bank SME book doubles to Rs 1.48 lakh crore in under 3 years

According to the RBI data, the system-wide SME loan book stood at Rs 15.7 lakh crore as of June 2019, up 10 per cent over the 12 months' period.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/37JbTB6

Read more »

UBS names ING chief Ralph Hamers to head Swiss banking giant

"Ralph is the right CEO to lead our business into its next chapter," UBS chairman Axel Weber said in a statement late Wednesday.

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

Read more »

‘Long association with Bengal’: UBI stakeholders fear losing identity with merger

The Centre has announced that the Punjab National Bank (PNB), the UBI and the Oriental Bank of Commerce (OBC) will be merged to create the second-largest lender in the country after the State Bank of India (SBI).

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

Read more »

PSU banks lose, again; private banks gain public trust, get major share of new deposits

Even as PSU banks saw a good run in the first half of the calendar year 2019 with a sharp increase in new deposits, private sector banks are becoming the preferred choice of depositors for parking their money, again.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/37FklRV

Read more »

Mahindra Finance to grow small-ticket loan book to Rs 25,000 cr

The company has been providing small ticket loans, including personal, consumer durable and two-wheeler loans, to existing customers who have paid their installments regularly for a period of 12 months.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/37E8qEd

Read more »

HDFC Bank SME loan book doubles to Rs 1.48 lakh cr in under 3 years

Private sector lender HDFC Bank doubled its SME book to over Rs 1.48 lakh crore by December 2019 from Rs 74,000 crore in March 2017, cornering over 9

from Business Line - Money & Banking https://ift.tt/2V9v5pc

Read more »

Reliance Commercial Finance turns NPA on NABARD books

NBFC’s estimated aggregate principal outstanding stands at ₹1,107.50 crore, says RTI response

from Business Line - Money & Banking https://ift.tt/38LWa5N

Read more »

Insolvency regulator moots rule change to replace Authorised Representative

Plans are also afoot to provide for simultaneous voting on two or more qualifying resolution plans

from Business Line - Money & Banking https://ift.tt/2V54gCA

Read more »

Long association with Bengal: UBI stakeholders fear losing identity with merger

Stakeholders, including customers and shareholders, of the United Bank of India (UBI) have expressed their disappointment over the government’s decis

from Business Line - Money & Banking https://ift.tt/2T1vjvQ

Read more »

NABARD: BBB recommends Chintala Govinda Rajulu for Chairman post

The Banks Board Bureau (BBB) has recommended the name of Chintala Govinda Rajulu for appointment as the next Chairman of the National Bank for Agricu

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

Read more »

China cuts loan rate as it battles coronavirus impact

China on Thursday announced it would cut interest rates in a bid to boost the economy, as it battles the economic fallout of the new coronavirus outb

from Business Line - Money & Banking https://ift.tt/2P64x4b

Read more »

Long association with Bengal: UBI stakeholders fear losing identity with merger

Stakeholders, including customers and shareholders, of the United Bank of India (UBI) have expressed their disappointment over the government's decision to not retain the identity of the age-old lender in the proposed merged entity, an official said on Thursday.

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

Read more »

PMO holds meeting on merger of 10 public sector banks

Some of the anchor banks in the consolidation process were earlier asked to give presentations on their plans for the merger and how the entire amalgamation exercise was going to pan out.

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

Read more »

SC offers relief to ex-PNB MD: ‘Freezing of her assets by govt is without jurisdiction’

The ministry had moved the tribunal under various provisions of the Companies Act, 2013, which pertain to freezing of assets of a company on inquiry and investigation and also relate to imposition of restrictions upon securities.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2V4VV1H

Read more »

Three banks approach RBI to exit PCA; IDBI Bank has best chance

RBI had kept the three banks in the PCA framework – under which the central bank puts partial restrictions on loan disbursements – after a massive asset quality deterioration, losses in the books and lower capital levels.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/39P3wpm

Read more »

RBI proposal will lead to more innovation in the digital payments space

Payment and fintech players are optimistic about the draft proposal by the Reserve Bank of India to set up new pan-India umbrella entities focussing o

from Business Line - Money & Banking https://ift.tt/32aTuwg

Read more »

Reserve Bank gives final approval to Kotak Bank to lower promoter stake

The Reserve Bank of India has given the final go ahead to Kotak Mahindra Bank to lower promoter stake. “The RBI has granted its final approval vide le

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

Read more »

Pine Labs aims to deploy 1 lakhAndroid PoS terminals in FY21

KR SrivatsPine Labs, a merchant commerce platform, will look to deploy at least 1 lakh Android PoS terminals in FY21, said Kush Mehra, Chief Busines

from Business Line - Money & Banking https://ift.tt/37KLZgl

Read more »

SoftBank to borrow $4.5 b pledging domestic telco’s shares

SoftBank Group Corp said on Wednesday it plans to borrow up to ¥500 billion ($4.5 billion) from 16 domestic and foreign financial institutions using a

from Business Line - Money & Banking https://ift.tt/2V5wi0A

Read more »

Overseas borrowing to the rescue ofcash-strapped non-banking entities

Securitisation, masala bonds and dollar bonds are the other sources of borrowing

from Business Line - Money & Banking https://ift.tt/37FHG63

Read more »

Kotak Mahindra Bank gets RBI nod for trimming promoters’ stake

Private sector Kotak Mahindra Bank on Wednesday said the Reserve Bank has granted its final approval for reducing promoters’ stake in the bank to 26

from Business Line - Money & Banking https://ift.tt/2V3qB3m

Read more »

HDFC Bank upbeat about consumer spending

Launches new corporate credit card with SAP Concur Solutions and Mastercard

from Business Line - Money & Banking https://ift.tt/32ciGT4

Read more »

SBI Card hits 1 crore mark as it readies for listing

SBI Card, which is set to launch its initial public offering (IPO) early next month, has crossed the one-crore-cards mark, making it the only issuer after HDFC Bank to achieve this milestone. The company will approach the registrar of companies this week for the public listing.

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

Read more »

Supratim Bandyopadhyay appointed PFRDA Chairman

KR Srivats

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

Read more »

IL&FS proposes InvIT for road assets

The group, whose management was superseded by the government in 2018, has submitted the proposal to the Securities and Exchange Board of India (Sebi) but experts say approval could take some time as there are no rules governing the creation of the kind of InvIT proposed by IL&FS.

from Banking/Finance-Industry-Economic Times https://ift.tt/325dCzA

Read more »

New-age bankers get a technology upgrade

Technology has transformed the way banks function. Conventional wisdom is to have men with accounting skills. But as machines take over many functions, the human resources need at banks is shifting to engineers and behavioural scientists.

from Banking/Finance-Industry-Economic Times https://ift.tt/326wQVD

Read more »

Bank funding for large projects may gain momentum

Going ahead, planned or envisaged capex from all sources based on the pipeline projects sanctioned in all preceding years point to a noticeable improvement in 2019-20. The investment cycle appears to be poised to gain momentum in the short to medium term, but its sustainability needs to be watched closely, RBI said.

from Banking/Finance-Industry-Economic Times https://ift.tt/3bLQuup

Read more »

India’s media space set to raise awareness with ‘UPI Chalega’ campaign

The UPI, which is a real time fund transfer interface, has significantly scaled since its launch in August 2016 when 92,000 transactions worth Rs 3.1 crore were processed on the NPCI operated platform to over 1.3 billion transactions worth Rs 2.16 trillion in January 2020.

from Banking/Finance-Industry-Economic Times https://ift.tt/2vMeyg6

Read more »

INTERVIEW: We’d like to target 5,000 corporates for SAP Concur software, says Parag Rao, country head – payments business & marketing, HDFC Bank

HDFC Bank and SAP Concur’s expense management solution will be targeted at 5,000 of the bank’s largest corporate clients in the next three years, says Parag Rao, country head - payments business & marketing, HDFC Bank.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/38Hsx5B

Read more »

HDFC Bank completes 25 years of operations

HDFC Bank, the most valuable Indian lender, completed 25 years on Tuesday. The bank observed the anniversary celebrations by committing to plant 25 l

from Business Line - Money & Banking https://ift.tt/2SEsBh1

Read more »

Human touch, differentiated customer experience to help bankers in age of tech

A differentiated customer experience and the human touch bankers provide their customers in a world of digital assistants are important, according to

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

Read more »

Kerala HC orders govts, KIIFB, RBI to file affidavit

A division Bench of the Kerala High Court on Tuesday asked the State and Central governments, the Kerala Infrastructure Investment Fund Board (KIIFB)

from Business Line - Money & Banking https://ift.tt/323MRvo

Read more »

Canara Bank Financial Literacy Week

Canara Bank observed Financial Literacy Week 2020 at its SME Kumbalagodu Branch recently. The RBI has decided to observe Financial Literacy Week 2020

from Business Line - Money & Banking https://ift.tt/2P2ZQsb

Read more »

HDFC Bank, Mastercard, SAP Concor join hands to manage spending in corporate sector

HDFC Bank will offer a corporate credit card for business travellers, providing a one-stop solution for payment and expense management during business trips. The card will enable seamless integration of all business-related spend into SAP Concur offerings, enhancing employee experience, increasing visibility, saving money, and improving efficiency.

from Banking/Finance-Industry-Economic Times https://ift.tt/37IX0z7

Read more »

Defying the normal, 5 private banks offer interest rates more than 7% on FDs

Amid declining interest rates, YES Bank, Lakshmi Vilas Bank, RBL Bank, DCB Bank and IDFC First Bank have emerged as outliers, quoting interest rates n

from Business Line - Money & Banking https://ift.tt/32632IB

Read more »

HSBC takes $73-billion charge in restructuring; to axe 35,000 jobs

HSBC Holdings Plc is taking about $7.3 billion of charges and exiting several business units in its most ambitious restructuring plan since the globa

from Business Line - Money & Banking https://ift.tt/2HwiV1J

Read more »

Mahindra Finance forays into consumer durables, personal loan for existing borrowers

The company is also optimistic about the revival of auto sales by October

from Business Line - Money & Banking https://ift.tt/329WsB8

Read more »

Government will meet fiscal deficit targets: Shaktikanta Das

Throwing his weight behind finance minister Nirmala Sitharaman's Budget numbers, Reserve Bank of India (RBI) governor Shaktikanta Das said that there is no reason to doubt that the government will be able to cut fiscal deficit to 3.5 per cent of the GDP in the fiscal beginning April 1.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/37HrNMl

Read more »

Small finance banks seek relaxation in RBI norms for branch opening

Incumbent small finance banks (SFBs) have sought relaxation of norms from the Reserve Bank of India for opening new branches. This could bring them at

from Business Line - Money & Banking https://ift.tt/37ACtww

Read more »

IOB raises lending target for home, MSME loans: CEO

He expressed hope that the bank will turn profitable soon

from Business Line - Money & Banking https://ift.tt/2SV35Tt

Read more »

Chief labour commissioner tells IBA and bank unions to resolve difference in 15 days

The issue of delay in bipartite wage settlement was discussed Monday at a joint meeting between IBA, bank unions and officers from department of financial services held in Mumbai. IBA and the unions have failed to finalise the wage deal despite several rounds of talks over the last one-a-half years.

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

Read more »

IOB raises lending target for home, MSME loans; hopes to be profitable soon: CEO

The Public sector bank, which is under the RBI's prompt corrective action (PCA) currently and has been incurring losses for the past 18 quarters, posted large losses because of huge non-performing assets (NPAs) for the past 7-8 years, caused mainly on account of large exposure in the corporate sector, its CEO Karnam Sekar said.

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

Read more »

IRDAI says it is ‘yet to get’ proposal from LIC on IPO

Insurance watchdog Insurance Regulation and Development Authority of India (IRDAI) is yet to get any proposal from life insurance behemoth LIC on an

from Business Line - Money & Banking https://ift.tt/37FQby2

Read more »

SBM Bank (I) will focus on rural markets through collaborative approach, says Sidharth Rath

We will look at expanding our footprint in a very structured manner, says CEO and MD Sidharth Rath

from Business Line - Money & Banking https://ift.tt/2wlJq7v

Read more »

Bank strike: IBA advised to resume talks ahead of reconciliation meet on March 5

Vinson Kurian

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

Read more »

HSBC to slash 35,000 jobs, shed assets worth $100 billion

HSBC Holdings said on Tuesday it would shed $100 billion in assets, slashing the size of its investment bank and revamping its US and European businesses - in a drastic overhaul that will mean 35,000 jobs cut over three years.

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

Read more »

2018 Malware Attack: Cosmos bank recovers ₹5.73 crore from frozen account of Hong Kong-based bank

Our Bureau

from Business Line - Money & Banking https://ift.tt/39FTBlO

Read more »

Visa says OTP not needed for ‘routine’ transactions

Global card network provider Visa aims to phase out the twofactor authentication (2FA) process on routine card transactions during digital checkouts and replace the scrutiny layer with a riskbased prompt.

from Banking/Finance-Industry-Economic Times https://ift.tt/322rydP

Read more »

RBI gets Rs 1.94 lakh crore bids for maiden Rs 25,000 crore LTRO

Deploying an out-of-the-box tool to ensure permanent and deeper liquidity in the system, which hovers over Rs 2.5 lakh crore on a daily basis now, the Reserve Bank on February 6, had announced Rs 1 lakh crore of long-term reverse repo operations beginning this Monday.

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

Read more »

No proposal to merge LIC Housing Finance with any other entity: LIC

IDBI Bank, in which LIC holds 51 per cent stake, had reported widening of its standalone net loss to Rs 5,763.04 crore due to higher bad loans.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Syig5Y

Read more »

Indian Overseas Bank mulls FPO next fiscal

The centre holds nearly 95 per cent stake while LIC has three per cent and others-two per cent in the bank, which is currently under the Prompt Corrective Action (PCA) framework of the Reserve Bank.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/38AkqYr

Read more »

NABARD projects ₹27,989 cr credit potential for Assam

The National Bank for Agriculture and Rural Development (NABARD) has projected a credit potential of ₹27,989.04 crore for Assam in the 2020- 21 fisca

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

Read more »

Government must continue reforms: RBI governor

Reserve Bank of India (RBI) governor Shaktikanta Das on Monday said the government will have to use structural reforms to revive demand and support the sagging economy, and green shoots of the recovery visible now need to be sustained to pull India out of its worst slowdown in 11 years.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/37vt35b

Read more »

Indian Overseas Bank to step up its MSME focus

Indian Overseas Bank (IOB), which conducted an MSME customer outreach programme in Hyderabad, outlined its efforts to step up exposure to the MSME s

from Business Line - Money & Banking https://ift.tt/37xnELa

Read more »

Thanks to policy switch, tide turns for Indian bonds in just two weeks; global funds rush in

Just a month ago, global funds could not wait to dump India’s sovereign bonds. Now, they are rushing back at the fastest pace in more than two years.F

from Business Line - Money & Banking https://ift.tt/3bUnYqK

Read more »

Now, RBI may turn to BoE for ideas to boost growth

First it was the Federal Reserve. Then the European Central Bank. Now, the Reserve Bank of India may look to the Bank of England for ideas to revive

from Business Line - Money & Banking https://ift.tt/2V0Fd3I

Read more »

RBI’s long-term repo operation gets ‘overwhelming’ response

Banks bid almost eight times more than the notified amount of ₹25,000 crore

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

Read more »

Technology helps ICICI Pru settle death claims in one day

Our BureauTechnology solutions have helped private sector ICICI Prudential Life Insurance settle death claims in one day. Called ‘Claim for Sure’, it

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

Read more »

No proposal to merge LIC Housing Finance with any other entity: LIC

The statement came after some reports suggested that insurance behemoth LIC might expedite the process of merging LICHFL with its banking arm IDBI Bank. "There was absolutely no proposal to merge LICHFL with any other entity and all such rumours floating in the market are not based on facts," LIC said in a clarification.

from Banking/Finance-Industry-Economic Times https://ift.tt/3bMa1e7

Read more »

IBC check: In 3 years, just 6 per cent of 3,312 cases have seen resolution

In December 2019 quarter, lenders have taken an 88% haircut on resolution

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

Read more »

Banks lured by record-low borrowing costs binge on bonds

Rupee bond sales by Indian banks are off to the best start in five years as the lenders lured by record-low borrowing costs seek funds to bolster lo

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

Read more »

DHFL used bizman Sudhakar Shetty as conduit to siphon off Rs 3,000 crore

The brothers, who are being probed separately by the Serious Fraud Investigation Office and the Enforcement Directorate (ED), had used several conduits to float a maze of shell companies though which the money was channelled out.

from Banking/Finance-Industry-Economic Times https://ift.tt/2SJ16S0

Read more »

Resolutions via IBC see a big fall in third quarter

Data from the Insolvency and Bankruptcy Board of India (IBBI) showed that financial creditors realised just 12% of their claims in the quarter-ended December, down from 34% in the quarter-ended September. Bankers said falling recoveries from the IBC and delays in resolution have pushed them to seek solutions out of the courts.

from Banking/Finance-Industry-Economic Times https://ift.tt/3bLarBu

Read more »

RBI study sees boost in planned capex of pipeline projects

There has been a noticeable improvement in 2019-20 in the planned or envisaged capital expenditure (capex) from all sources based on the pipeline pro

from Business Line - Money & Banking https://ift.tt/37yz01s

Read more »

Non-life insurers register 7.2 pc rise in Jan premium income at Rs 17,226 cr

The 35 insurers' gross premium collection stood at Rs 16,076.28 crore in the same month a year ago. Among these, the 25 general insurance providers had a collective premium of Rs 14,643.26 crore during the month, up 2.2 per cent from the same period of 2019, as per the Insurance Regulatory and Development Authority of India's (Irdai) data.

from Banking/Finance-Industry-Economic Times https://ift.tt/38IelcN

Read more »

Non-life insurers register 7.2% rise in January premium income at Rs 17,226 cr

India’s non-life insurance companies registered a 7.2 per cent rise in their combined new premium collection at Rs 17,225.75 crore in January this fi

from Business Line - Money & Banking https://ift.tt/2SzRM4p

Read more »

Govt to infuse ₹1,300 cr in Exim Bank next fiscal

The government has decided to pump ₹1,300 crore into state-owned Export-Import Bank of India (Exim Bank) to fund its business growth. Last year, the

from Business Line - Money & Banking https://ift.tt/2P15WJA

Read more »

Corporation Bank cuts MCLR by 5-15 bps

Corporation Bank has cut its marginal cost of funds-based lending rate (MCLR) by 5-15 basis points (bps) across different tenors with effect from Feb

from Business Line - Money & Banking https://ift.tt/322Yjro

Read more »

Govt to infuse Rs 1,300 cr in Exim Bank next fiscal

The government has decided to pump Rs 1,300 crore into state-owned Export-Import Bank of India (Exim Bank) to fund its business growth.

from Banking/Finance-Industry-Economic Times https://ift.tt/39HiFJl

Read more »

Delays in debt recoveries irk Bombay HC; asks Finance Ministry to enhance Debt Recovery Tribunal

DRTs are constituted under the Finance Ministry to enable banks and other financial institutions recover their debt from borrowers in a speedy manner.

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

Read more »

No going back on decision to merge 10 PSBs, says FM Nirmala Sitharaman

The government had in August last year announced that Oriental Bank of Commerce and United Bank would be merged into Punjab National Bank (PNB) to create the country's largest state-run bank after SBI, with a total business of close to Rs 18 lakh crore.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Hu2Idn

Read more »

No going back on decision to merge 10 PSBs, says FM Nirmala Sitharaman

The government had in August last year announced that Oriental Bank of Commerce and United Bank would be merged into Punjab National Bank (PNB) to create the country's largest state-run bank after SBI, with a total business of close to Rs 18 lakh crore.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Hu2Idn

Read more »