Custom Search

Saturday, March 21, 2020

Banks seek more time over bad loan classification

Banks have asked the regulator to allow more time before labelling a loan as bad debt, and they sought longer deadlines to meet certain capital standards as the coronavirus pandemic derails businesses, sparking concern over the financial health of banks.

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

RBI extends regulatory restrictions on PMC Bank by 3 months

The RBI had put a six-month regulatory restriction on the bank on September 23, 2019, after finding out certain financial irregularities, hiding and misreporting of loans given to real estate developer HDIL.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2J4U9Xd
Read more »

RBI extends regulatory restrictions on PMC Bank by 3 months

The RBI had put a six-month regulatory restriction on the bank on September 23, 2019.

from Banking/Finance-Industry-Economic Times https://ift.tt/33BAGGS
Read more »

LIC eyes sale of 2.5 cr individual policies, Rs 55,000 cr in premium collection for FY'20

The life insurer said it is confident of crossing its target of 2.5 crore individual policies well before March-end. In the previous fiscal, the corporation had sold 2,14,03,905 individual policies.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Wz3xu0
Read more »

PMC Bank: RBI extends restrictions for 3 months

The Reserve Bank of India (RBI) on Saturday further extended regulatory restrictions put on Punjab and Maharashtra Co-operative (PMC) Bank by three months.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3ac590P
Read more »

RBI extends regulatory restrictions put on PMC Bank till June 22

Under the directions, PMC Bank depositors cannot withdraw more than ₹ 50,000 of the total balance in their accounts

from Business Line - Money & Banking https://ift.tt/3beSA4V
Read more »

SBI tells borrowers, come and take money, opens up emergency credit line amid coronavirus

In order to meet any liquidity mismatch, State Bank of India (SBI) has set up an emergency credit line for its borrowers to help them tide over the crisis triggered by the virus.

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

SBI to grant special loans to virus-hit borrowers

The country’s largest lender State Bank of India (SBI) has drawn up a scheme to provide additional funding to borrowers whose operations are impacted by coronavirus. The Covid-19 Emergency Credit Line (CECL) will be in force up to June 30 and will be equivalent to 10% of their working capital limit, subject to a cap of Rs 200 crore.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2vCX0Dy
Read more »

Covid-19: SBI opens emergency credit line for borrowers

Amid businesses getting affected due to the novel coronavirus pandemic, the country’s largest lender State Bank of India has opened an emergency cred

from Business Line - Money & Banking https://ift.tt/3bg4HPo
Read more »

A secret RBI team is fighting a parallel war against Covid-19

A crack team, of about 150 people and from critical RBI wings like debt, reserve management, is part of the central bank's business continuity plan to ensure Covid causes minimum disruption to the financial system.

from Banking/Finance-Industry-Economic Times https://ift.tt/2J0RA8C
Read more »

RBI may join 38 central banks that have already cut rates

With 38 central banks around the world reducing interest rates in recent weeks in the wake of the coronavirus crisis, Reserve Bank of India is widely expected to follow suit.

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

Friday, March 20, 2020

OMO: Reserve Bank to infuse ₹30,000-crore liquidity on March 24, 30

The Reserve Bank of India (RBI) has decided to purchase Government Securities (G-Secs) under Open Market Operations (OMOs) in two tranches of ₹15,000

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

BoB waives charges on digital transactions for three months

Our BureauTo ensure the safety of its customers as well as branch staff in the wake of outbreak of Covid-19 pandemic, Bank of Baroda (BoB) has done aw

from Business Line - Money & Banking https://ift.tt/33DtFp5
Read more »

RBI to inject Rs 30,000cr liquidity into market

The Reserve Bank of India (RBI) will inject liquidity of Rs 30,000 crore through open market operations next week to maintain financial stability in the system in the wake of the coronavirus outbreak.

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

RBI, SBI and Central Bank allow‘work from home’ for employees

Our Bureaus With the coronavirus outbreak getting more entrenched in the country, the financial sector, including the Reserve Bank of India (RBI) and

from Business Line - Money & Banking https://ift.tt/3bez8Fz
Read more »

Anil Ambani has to pay $100 million by end of day

Reliance Group chairman Anil Ambani is running out of time. The brother of one of Asia's most wealthy men and a one-time billionaire himself lost an attempt to appeal a UK court order that he set aside $100 million in his dispute with three Chinese banks.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3909piE
Read more »

ADB to hold annual meeting in two stages in view of coronavirus pandemic

Multilateral lending agency Asian Development Bank (ADB) has decided to hold its 53rd annual meeting in two stages in view of the coronavirus pandemic. It will be reconvened on September 18 for a full-scale second-stage annual meeting at Incheon in South Korea.

from Banking/Finance-Industry-Economic Times https://ift.tt/33AIby8
Read more »

MP, Rajasthan yet to release Rs 4,213 crore share of premium for farmers under crop insurance

"The states which have not given premium for crop insurance include Madhya Pradesh which owes Rs 2,731 crore and Rajasthan which owes Rs 1,482 crore," Choudhary said.

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

Covid-19 is no threat to microfinance industry; sees no impact on loan disbursement, collection

Shobha RoyThe microfinance industry in India, which had witnessed a rise in delinquencies and negative impact on asset quality following demonetisat

from Business Line - Money & Banking https://ift.tt/3a9OjzF
Read more »

Downgrade by global advisory firm Bernstein sinks HDFC Bank scrip

Gives a price target of ₹750 with ‘underperformer’ rating

from Business Line - Money & Banking https://ift.tt/33yyXSH
Read more »

RBI appoints R Gandhi, Ananth Narayan as additional directors on Yes Bank board

Under the reconstruction scheme, which came into effect from March 14, RBI can appoint one or more persons as additional directors on the board of Yes Bank. On March 5, the RBI had superseded the board of Yes Bank and appointed Prashant Kumar, ex-DMD and CFO of SBI, as the administrator. The RBI-imposed moratorium was lifted on March 18.

from Banking/Finance-Industry-Economic Times https://ift.tt/39a5zU6
Read more »

What's left in the tank for the big 3 central banks?

The world's top three central banks have deployed an array of weapons to fight the profound economic threat posed by the global coronavirus pandemic, increasingly seen as likely to spur the first outright contraction in the world economy since the 2007-09 financial crisis. Many have also cut interest rates significantly and rolled out new or enhanced measures.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3de3kCp
Read more »

RBI appoints R Gandhi, Ananth Narayan as additional directors on Yes Bank board

The appointment, effective March 26, will be for two years, the Reserve Bank said in a statement which comes a day after the private sector bank resumed full operations.

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

Additional directors appointed to YES Bank board

Our BureauThe Reserve Bank of India (RBI), on Friday, appointed R Gandhi (former Deputy Governor, RBI) and Ananth Narayan Gopalakrishnan (Associate Pr

from Business Line - Money & Banking https://ift.tt/2J4DKlr
Read more »

HDFC Bank scrip falls in intra day trade

The bank’s scrip was trading at Rs 882.40 apiece on BSE

from Business Line - Money & Banking https://ift.tt/33yfZeX
Read more »

Rana Kapoor sent in judicial custody till April 2

Yes Bank founder Rana Kapoor, arrested in a money laundering case, is "easily susceptible" to getting infected by the coronavirus in prison, his lawyer told a court here on Friday. Kapoor, arrested by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA) earlier this month, was remanded in judicial custody till April 2 as the investigation agency did not seek his further remand.

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

YES Bank crisis: Rana Kapoor sent to judicial custody till April 2

A special court on Friday sent YES Bank co-founder Rana Kapoor to judicial custody till April 2.The court had on March 16 extended YES Bank co-founder

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

COVID-19: All India bank strike for March 27 deferred

The All India bank strike called for March 27 by bank unions stands deferred. It may be recalled that All India Bank Employees Association (AIBEA) and

from Business Line - Money & Banking https://ift.tt/2Wtgk17
Read more »

CBI asks Yes Bank administrator to assess amount of total fraud by corp borrowers

The Central Bureau of Investigation (CBI) has advised the administrator appointed by the Reserve Bank of India to assess the total alleged fraud caused by various corporate borrowers to the Yes Bank so that it can probe the books of all the stressed borrowers together.

from Banking/Finance-Industry-Economic Times https://ift.tt/3b9OkUm
Read more »

Yes Bank to raise Rs 20,000 crore in maiden effort to raise funds post SBI-led bailout

In its maiden effort to gather funds after being bailed out, cash-starved private lender Yes Bank is planning to raise Rs 20,000 crore via certificate of deposits from institutional investors, including banks.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2U7j7vw
Read more »

Indiabulls chief says can't appear before ED due to Coronavirus travel ban

Indiabulls Chairman Sameer Gehlaut has informed Enforcement Directorate that he is unable to appear before the investigating agency due to travel ban

from Business Line - Money & Banking https://ift.tt/2U4NjqX
Read more »

Anil Ambani appears before ED in YES Bank case

Reliance Group Chairman Anil Ambani met ED officials on Thursday to clarify on the Reliance Group's exposure to YES Bank.He reiterated that the Relian

from Business Line - Money & Banking https://ift.tt/2xa8HlK
Read more »

ICICI Lombard launches a dedicated insurance cover for coronavirus

 Private sector non-life insurance company ICICI Lombard has launched a focused policy for coronavirus (COVID-19), which will pay the entire sum insur

from Business Line - Money & Banking https://ift.tt/2vAbiF0
Read more »

Cashfree launches digital payments solution for businesses

Digital payments platform, Cashfree, has launched UPI Stack for Businesses, allowing businesses to collect and disburse UPI payments.The product will

from Business Line - Money & Banking https://ift.tt/33u7Wjz
Read more »

Thursday, March 19, 2020

Vivriti Capital raises ₹350 crore from LGT Lightstone Aspada

Our Bureau Chennai-based financial services firm Vivriti Capital has raised ₹350 crore ($50 million) in Series B funding from LGT Lightstone Aspada, i

from Business Line - Money & Banking https://ift.tt/2Qui6v9
Read more »

Can Lakshmi Vilas Bank turn the vicious cycle into a virtuous one?

Lakshmi Vilas Bank (LVB) is caught in a vicious cycle. The private lender’s previous exposures to large corporates have turned bad. As a result, the b

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

Yes Bank gets Rs 60,000 crore life support; RBI assures liquidity, with a condition

The Reserve Bank of India has extended a Rs 60,000 crore lifeline to India’s fourth largest private lender Yes Bank to enable the troubled bank to meet depositors’ requirements.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2w9ikkx
Read more »

Yes Bank transfers Puri Jagannath Temple’s Rs 389 crore FD account to SBI

The fixed deposit (FD) account of the temple has accrued a total interest of Rs 8.23 crore.

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

Yes Bank transfers Puri Jagannath Temple's Rs 389-crore FD account to SBI

"As per the term of condition of FD placed with us, Yes Bank has fully paid all the quarterly interest on time up to December 31, 2019. The remaining interest that has accrued till March 19, 2020, has been remitted along with the principal amount of Rs 389 crore to SBI account of Jagannath Temple Corpus Fund," Yes Bank said in a letter.

from Banking/Finance-Industry-Economic Times https://ift.tt/2x7v9Mk
Read more »

Biggest Indian bank ramps up corporate loans

India’s most-valuable bank is betting big on the nation’s businesses at a time when a slumping economy and souring loans have forced peers to retreat. HDFC Bank Ltd’s lending to large and small companies surged 63% over the two years through Dec 31 as India’s economy went from world-leading growth to its slowest expansion in six years.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2U18z0D
Read more »

Banks seek RBI nod for relief to borrowers hit by Covid-19

Relief to coronavirus-hit borrowers from being classified as defaulters and additional funding to help businesses tackle a shutdown are measures that lenders want the regulator to allow to help tide over the pandemic-triggered economic shock. The Indian Banks Association (IBA) has also created a working group to study the economic fallout of the coronavirus pandemic.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3b4pTaI
Read more »

Chennai-based Veritas Finance raises ₹350 cr in Series E round

Chennai-based non-banking finance company Veritas Finance Pvt Ltd, which lends to micro, small and medium enterprises, has raised ₹350 crore in a Seri

from Business Line - Money & Banking https://ift.tt/3dc72wt
Read more »

India Ratings revises Yes Bank ratings to ‘Evolving’ from negative

Scrip down 9%

from Business Line - Money & Banking https://ift.tt/2vuB3Xc
Read more »

One fund, two benefits – Saving tax & Growth potential

It is that time of the year when many of us struggle to make investments into products that help save tax. For those of us who are yet to do it, this may be ...

from Banking/Finance-Industry-Economic Times https://ift.tt/395fVoa
Read more »

Kotak Mahindra Bank, subsidiary sell 20% stake in ECA Trading Services

The cash consideration for the transaction, which was completed on March 18, stood at Rs 1.67 crore for Kotak Mahindra Bank and Rs 2.27 crore for Kotak Mahindra Prime.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/33FwNB7
Read more »

Yes Bank branches look deserted after moratorium lifts

The bank resumed full operations from 6 pm on Wednesday, after being under moratorium for 13 days.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/33szIN8
Read more »

Why RBI’s latest LTRO auction saw weak response

BL Research BureauWith global central banks upping the ante and announcing emergency measures to tackle the COVID-19 crisis, the RBI too deployed tool

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

Save Tax with IDFC Tax Advantage (ELSS) Fund

Equity Linked Saving Scheme ELSS is a category of mutual fund that lets you invest in equity market for long term wealth creation while also letting you sa...

from Banking/Finance-Industry-Economic Times https://ift.tt/3a4cvU1
Read more »

Yes Bank: Anil Ambani appears before ED in Mumbai

The agency is expected to record the statement of the 60-year-old Ambani under the Prevention of Money Laundering Act (PMLA).

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

Covid-19: IBA puts forth precautionary guideline for banks

Recommends relocation of top management, digital payments for customers

from Business Line - Money & Banking https://ift.tt/3a1qWYV
Read more »

Madhu Kapur sells Yes Bank shares worth ₹161 crore at ₹65 a share

Another promoter of Yes Bank, Madhu Kapur has sold 2.48 crore shares in the company on Wednesday, as per bulk deal data on the NSE. She held more than

from Business Line - Money & Banking https://ift.tt/2UdxE7C
Read more »

Nirmala Sitharaman to move the Banking Regulation (Amendment) Bill, 2020 in Lok Sabha

Union Finance Minister Nirmala Sitharaman will move the Banking Regulation (Amendment) Bill, 2020 for consideration and passage in Lok Sabha on Thursday.

from Banking/Finance-Industry-Economic Times https://ift.tt/2UdsE2Q
Read more »

PFC to block fund flow of mismanaged state utilities

The move is seen as a major reform for the sector that suffers heavily because of poor performance of state utilities. PFC and its arm REC are the major financiers to the ailing power distribution companies (discoms).

from Banking/Finance-Industry-Economic Times https://ift.tt/397MeDf
Read more »

Covid-19 impact: Will ₹1-lakh threshold for insolvency plea under IBC be reviewed?

If implemented, the move will offer substantial relief to stressed sectors

from Business Line - Money & Banking https://ift.tt/3a8zKMY
Read more »

Karur Vysya Bank enters bullion business

The gems and jewellery business is an important part of India’s economy and KVB is now in a position to enhance its support to this important industry, the statement said.

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

Covid Impact: Banks may ask RBI for relief to tackle anticipated stress

Data from RBI shows banks’ outstanding loans to services sector stood at Rs 24.32 lakh crore as on January 31, accounting for 27.3% of the total non-food credit.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Uh7SiR
Read more »

ECB launches €750 billion ‘pandemic emergency’ bond-buying scheme

The European Central Bank on Wednesday announced a surprise 750-billion-euro scheme to purchase government and corporate bonds, as it joined other c

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

Wednesday, March 18, 2020

Yes Bank moratorium lifted, banking ops resume

Yes Bank on Wednesday announced that it has resumed complete banking services, which was stopped after the RBI placed it under moratorium earlier this month. Taking to Twitter, the crisis-hit bank stated: "Our banking services are now operational. You can now experience the full suite of our services. Thank you for your patience and co-operation."

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2IWC39M
Read more »

RBI withdraws moratorium on Yes Bank, banking services restored

On March 5, the RBI had imposed a moratorium on the lender restricting withdrawals at Rs 50,000.

from Banking/Finance-Industry-Economic Times https://ift.tt/2UkGm3S
Read more »

Yes Bank reborn: Moratorium ends, customers can now withdraw as much money as they want

India’s fourth largest private bank Yes Bank has got a second life today after the Reserve Bank of India lifted the moratorium two weeks ahead of the proposed deadline of 3 April 2020.

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

cleared by madhavan

KVB launches precious metals businessKarur Vysya Bank (KVB), on Wednesday, announced the launch of precious metals business. In a press statement, th

from Business Line - Money & Banking https://ift.tt/2w67oEh
Read more »

Stressed NBFC sector relying more on banks for borrowings: Care Ratings

Facing difficulties in raising money from the capital market, non-banking financial companies are relying more on banks to meet their funding requirements, with lending to NBFCs seeing a jump of 34.7 per cent in more than a year, says a report.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Uhv8NK
Read more »

After Yes Bank crisis, IndusInd Bank says it is financially strong and well-capitalised

The deposit business of the bank on both retail and corporate segments is steady.

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

Covid-19: ICICI Bank’s digital services, APIs for homebound customers

ICICI Bank has launched ‘ICICIStack’ a set of digital banking services and APIs (application programme interface) that will enable customers to under

from Business Line - Money & Banking https://ift.tt/3b5gwHR
Read more »

Karur Vysya Bank enters into bullion biz

Private lender Karur Vysya Bank (KVB) on Wednesday announced its entry into the bullion business.The bank in a statement said that the gems and jewe

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

We are financially strong and well-capitalised: IndusInd Bank

Private sector lender IndusInd Bank has said it is financially strong, well-capitalised and profitable, amid market rumours about the health of the lender after the Yes Bank crisis came to light.

from Banking/Finance-Industry-Economic Times https://ift.tt/3b2VbyQ
Read more »

Paytm Bank’s big digital push; Vijay Shekhar Sharma-led bank to issue 1 crore virtual debit cards

Vijay Shekhar Sharma-led Paytm Payments Bank Ltd (PPBL) Wednesday announced that it will now start issuing Visa virtual debit cards to the customers.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2w82B5j
Read more »

Paytm Bank to issue Visa virtual debit cards to its customers

The bank said it is already the largest issuer of RuPay debit cards and has the "fastest growing" a/c base. Visa virtual debit cards would enable customers to transact at all merchants accepting payments through cards. For the first time, the bank's customers would also be able to make international transactions using their Visa debit cards, it said.

from Banking/Finance-Industry-Economic Times https://ift.tt/33sKCmj
Read more »

Bajaj Finance reappoints Rajeev Jain as MD

Jain is the managing director of our company since April 1, 2015. He has more than 26 years of experience in the consumer lending industry. He has been associated with the company for over a decade.

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

Yes Bank hopeful that customers will use online, mobile banking channels

This being the 3rd Saturday means branches will be open

from Business Line - Money & Banking https://ift.tt/2QrDAJ3
Read more »

YES Bank crisis: AT-1 bond write-off could pose legal hurdles for RBI

The RBI’s move will hurt smaller banks, say experts

from Business Line - Money & Banking https://ift.tt/2UjOjq0
Read more »

Banks to seek RBI forbearance on loans to MSME, affordable housing

Repayment delay on the part of borrowers should not be classified default up to a point in time

from Business Line - Money & Banking https://ift.tt/3d55AvX
Read more »

Stress in tourism, aviation on SBI radar

SBI chairman Rajnish Kumar has said the country’s largest bank is keeping a watch on exposures to aviation, hospitality and tourism sectors in the wake of the Covid-19 pandemic. “We are studying the impact on these sectors,” Kumar said, in response to a query on business. ​

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Wr2sV5
Read more »

Yes Bank hopes recoveries will make up for fresh slippages

Yes Bank made a record loss of Rs 18,560 crore in the quarter ended December, largely as new management stepped up recognition of NPAs and set aside Rs 24,766 crore as provisions for bad loans. More importantly, the bank has guided for another 5% slippages during the year.

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

NBFCs likely to see fund squeeze on rising investor risk aversion

Analysts say recovery for Non Banking Finance Companies could be delayed further and the cost of funds could stay elevated for the time being, although NBFCs themselves believe that a likely interest rate cut by RBI and pressure on banks to transmit lower rates could help reduce costs.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Ugp4VB
Read more »

Altico lenders approve SSG Capital’s resolution plan

The lenders to Altico Capital India Ltd (ACIL) have unanimously approved Hong Kong-based SSG Capital’s resolution plan. The offer includes an upfron

from Business Line - Money & Banking https://ift.tt/2x6BLdA
Read more »

How to select a DIY Financial Website

You are putting in all the hard work and reaping the rewards. You have a good amount of cash with you and are also well-versed with the financial jargons, or...

from Banking/Finance-Industry-Economic Times https://ift.tt/33tFuhr
Read more »

RBI to regulate activities of payment aggregators

And provide tech-related recommendations to payment gateways

from Business Line - Money & Banking https://ift.tt/2Ui8BQC
Read more »

PNB Housing bucks trend, trusts tech to boost efficiency

PNB Housing is creating new software solutions for its wholesale loans business, specifically to make sure that disbursement of loans and management of the portfolio are easy and risk-controlled.

from Banking/Finance-Industry-Economic Times https://ift.tt/2x3HaCs
Read more »

No longer the Reserved Bank of India

The RBI has been keen on preventing concentration of ownership in banks. But some episodes such as permitting higher holding for Uday Kotak or billionaire Prem Watsa in Catholic Syrian indicate the emergence of a new approach.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Wn9iLt
Read more »

Tuesday, March 17, 2020

ATMs, branches full of cash, depositors need not worry: YES Bank

Another round of capital raising likely in Q1

from Business Line - Money & Banking https://ift.tt/2Wl8c2M
Read more »

Coronavirus: Insurers offerings focussed on fixed benefit covers on health side

KR Srivats New Delhi, March 17Indian general insurers are not able to provide sophisticated cover for business disruptions, including loss of revenu

from Business Line - Money & Banking https://ift.tt/393jDyV
Read more »

Indian banks to appeal for relief on bad loans amid coronavirus concerns

The appeal to the Reserve Bank of India (RBI) will be made via the Indian Banks' Association, the two senior bankers said, asking not to be named as the talks were still private.

from Banking/Finance-Industry-Economic Times https://ift.tt/39TGhL8
Read more »

Depositors' money safe, don't see panic withdrawals: Yes Bank

Responding to questions whether there would be a flurry of withdrawals from the depositors, Yes Bank administrator Prashant Kumar said that Yes Bank has sufficient funding lines available with it and based on analytics and positive vibes generated by the restructuring scheme, there would not be a flurry of withdrawals.

from Banking/Finance-Industry-Economic Times https://ift.tt/2w6Hnom
Read more »

Absolutely no worries on liquidity front, says YES Bank CEO-designate

YES Bank CEO-designate Prashant Kumar said that complete operational normalcy will be restored from 6 PM on Wednesday, as he emphasised that there ar

from Business Line - Money & Banking https://ift.tt/2Ueyv88
Read more »

Yes Bank has enough cash to meet requirements, normal services to start from tomorrow: CEO-designate

"All ATMs are full with cash, all branches have adequate supply of cash," Yes Bank Administrator Prashant Kumar said in a press conference. Kumar also said that complete operational normalcy will be restored from 6 pm tomorrow.

from Banking/Finance-Industry-Economic Times https://ift.tt/33r8ruo
Read more »

Faith restored in Yes Bank: More deposits in last four days, less withdrawals

While the Reserve Bank of India had imposed a moratorium on the bank and had capped withdrawals at Rs 50,000 per person, only one-third of the customers actually withdrew the amount, bringing more money to Yes Bank.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2IVE06u
Read more »

All Yes Bank ATMs have adequate supply of cash: Administrator Prashant Kumar

Yes Bank administrator on Tuesday said that there is absoulutely no issue of liquidity in the bank and assured depositors that all branches and ATMs of Yes Bank have adequate supply of cash.

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

Rajnish Kumar looks to calm investors, says SBI will not sell Yes Bank shares for three

Reinstating confidence in the reconstructed Yes Bank, Rajnish Kumar, Chairman of India’s largest public sector lender State Bank of India (SBI) said that SBI will not sell even a single share of the 49 per cent stake it has picked up in the troubled lender.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/39ZDEY6
Read more »

Awards no longer ‘debt’ under IBC? What financial creditors must know

The Code has seen several amendments since its inception to address teething issues faced due to dissimilar interpretations or unwarranted application of the Code by different authorities and stakeholders.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2TUFx2T
Read more »

After Yes Bank crisis, RBL Bank says it is financially strong and well-capitalised

The lender said market rumours around financial health and stability of the bank are totally misplaced, motivated and not based on facts.

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

New business models will see HFCs enjoy double-digit growth in FY21: Brickwork report

Housing finance companies (HFCs) will begin to see double-digit growth next fiscal, aided by reworked business models, a steady pace in loan securi

from Business Line - Money & Banking https://ift.tt/2Wmym54
Read more »

SBI to hold 48.2%, HDFC 8% in Yes Bank

State Bank of India (SBI) and Housing Development Finance Corporation (HDFC) on Monday said they would be holding 48.21% and 7.97%, respectively, in Yes Bank subsequent to the implementation of the scheme for reconstruction of the latter.

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

Relief for customers as Yes Bank to resume full services from Wednesday evening

Depositors and partners of the beleaguered Yes Bank can breathe a sigh of relief as the bank will resume full services, including digital services, from Wednesday evening.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/3d1UYhc
Read more »

Investment in Yes Bank not for RoI, says SBI chairman

State Bank of India (SBI) chairman Rajnish Kumar on Monday said that investment in troubled private lender Yes Bank was made to provide price stability to the financial system, and not for returns.

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

Digital payments get boost amidst Covid-19 concerns

Digital payment players have got a boost on the back of concerns over coronavirus and the recent advisory by the Reserve Bank of India to use non-cash

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

Depositors staying put is now key to India’s biggest bank rescue

Yes Bank’s recent “deposit flight” is a cause for concern, according to Fitch Ratings.

from Banking/Finance-Industry-Economic Times https://ift.tt/2Qlr4dU
Read more »

Yes Bank survival: Depositors staying put is now key to India’s biggest bank rescue

Yes Bank reported nearly a fifth of its loan book had turned bad and deposits shrank 34% in just over five months.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2x55Udf
Read more »

Yes Bank stock continues to rally for third day

Shares of Yes Bank on Tuesday further jumped nearly 35 per cent after Moody's upgraded the company's ratings. Rallying for the third consecutive day, the company's scrip zoomed 34 per cent to Rs 49.75 on the BSE.

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

Yes Bank impact on RBL Bank: Retail deposits safe, loses 3% deposits in last one week

Says bank strong, highly liquid

from Business Line - Money & Banking https://ift.tt/39VPpix
Read more »

Moody’s upgrades YES Bank’s ratings, changes outlook to positive

Global rating agency, Moody’s Investor Services, has upgraded YES Bank’s long-term foreign currency issuer and foreign currency senior unsecured MTN p

from Business Line - Money & Banking https://ift.tt/3b2zI98
Read more »

RBL Bank rubbishes market rumours about its financial health

The bank has a capital adequacy ratio of 16.08% with Tier-1 at 15.02% which is higher than the prescribed regulatory requirement at 11.5% and 9.5% respectively. It claimed that there has been no material adverse change in the asset quality since it announced the December quarter earnings. RBL said that there had been no significant deposit withdrawals.

from Banking/Finance-Industry-Economic Times https://ift.tt/33oGR0Z
Read more »

Yes Bank depositors’ money is absolutely safe: RBI Governor

The Reserve Bank of India (RBI) governor Shaktikanta Das on Monday dispensed with the usual regulatory formality to assure the man on the street that his deposits at Yes Bank are safe, with the central bank and the private lender’s new

from Banking/Finance-Industry-Economic Times https://ift.tt/3bcT9wn
Read more »

Monday, March 16, 2020

If required, RBI will support Yes Bank with liquidity: Shaktikanta Das

The Reserve Bank of India (RBI) governor Shaktikanta Das on Monday said that the RBI will support the crisis-hit Yes Bank with liquidity and assured depositors that their money continues to be safe.

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

Yes Bank customers can access all banking services from March 18 evening

RBI had on March 5 put a moratorium on Yes Bank restricting withdrawals to ₹50,000 per depositor till April 3

from Business Line - Money & Banking https://ift.tt/2vpKw29
Read more »

RBI to hold briefing amid flurry of Asia rate cuts

Reserve Bank of India Governor Shaktikanta Das will hold a press conference Monday, hours after the Federal Reserve slashed interest rates and trigger

from Business Line - Money & Banking https://ift.tt/2x2vShS
Read more »

Yes Bank to resume full banking services from March 18

"We will resume full banking services from Wed, Mar 18, 2020, 18:00 hrs. Visit any of our 1,132 branches from Mar 19, 2020, post commencement of banking hrs to experience our suite of services. You will also be able to access all our digital services & platforms," Yes Bank tweeted.

from Banking/Finance-Industry-Economic Times https://ift.tt/3a0c51a
Read more »

Yes Bank moratorium to be lifted on Wednesday, customers can withdraw money, avail services from this date

The much-awaited news for Yes Bank customers has finally been confirmed by the lender. Yes Bank will resume all its banking services for customers from March 18, 6:00 PM, the troubled lender said in a tweet on Monday.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/33lr5nt
Read more »

Crores of rupees stolen from ATMs; how safe is money in banks?

The misery of the Indian banking sector is not limited to the banks as even ATMs are not immune to incidents of theft and loot. Around Rs 54 crore has already been lost in ATMs, in-branch or in-transit phase for scheduled commercial banks and a few financial institutions (FIs) in the current fiscal year till […]

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

Rahul asks govt to name '50 top wilful defaulters'

Amid the ongoing crisis at Yes Bank, Congress leader Rahul Gandhi on Monday asked the Centre to name "50 top wilful defaulters". During a session in Lok Sabha, the former Congress president asked names of the country's top wilful defaulters.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2QhcV1s
Read more »

Yes Bank to resume 'full services from March 18'

Troubled private sector lender Yes Bank on Monday said that it will resume complete banking services from the evening of March 18. Taking it to Twitter, the crisis-hit bank stated: "We will resume full banking services from Wed(nesday), Mar(ch) 18, 2020, 18:00 hrs (hours) (6 pm)."

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

Investments in Yes Bank aimed at maintaining financial stability in system, not RoI: SBI

State Bank of India Chairman Rajnish Kumar on Monday said investments by banks in crippled Yes Bank are being made to maintain financial stability in

from Business Line - Money & Banking https://ift.tt/3d14Pnx
Read more »

Drip Capital bullish on export factoring prospects in India

Bill discounting platform is focussed on SME exporters

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

Anil Ambani summoned by ED in Yes Bank money laundering probe

Finance Minister Nirmala Sitharaman had said in a March 6 press conference that the Anil Ambani Group, Essel, ILFS, DHFL and Vodafone were among the stressed corporates Yes Bank had exposure to.

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

S&P: Yes Bank event underlines difference between PSBs and private banks on AT1 bonds

Global rating agency Standard and Poor’s has noted that the Yes Bank event has shaken Indian hybrid markets and has underlined the distinction between

from Business Line - Money & Banking https://ift.tt/2Wfh6P7
Read more »

Yes Bank crisis: ED summons Anil Ambani

The Enforcement Directorate has summoned Reliance Group Chairman Anil Ambani in connection with its money laundering probe against Yes Bank promoter

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

How to measure the safety of your bank?

Federal, South Indian banks dismiss Mcap-based ‘findings’; other banks, SFBs say they are heathy on CRAR; business improved after the 'misleading' report, say a few banks

from Business Line - Money & Banking https://ift.tt/2QjDKC8
Read more »

Cryptocurrencies see robust interest, but many banks yet to start processing transactions

Less than a fortnight after the Supreme Court lifted the ban on trading in cryptocurrencies, players in the sector are seeing a sharp rise in the numb

from Business Line - Money & Banking https://ift.tt/2TTBN1K
Read more »

Yes Bank crisis: ED summons Anil Ambani

Reliance Group chairman Anil Ambani has been summoned by the ED in connection with its money laundering probe against Yes Bank promoter Rana Kapoor and others, officials said on Monday.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/38UYp5W
Read more »

Coronavirus impact: Citigroup eyes 10% asset growth as virus-battered Asia goes online

Citigroup has incorporated its retail banking service on Tencent Holdings Ltd.’s instant messaging tool WeChat, meaning clients can check their accounts within the mobile app.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Uc4BB9
Read more »

Auditors feel companies may have to state coronavirus impact in accounts

Financial statements for Indian and multinational companies may have to reflect the impact of the coronavirus-related shutdown and disruptions, if any, on business operations, auditors have said.

from Banking/Finance-Industry-Economic Times https://ift.tt/2wYGTR4
Read more »

Yes Bank failure to honour sudden spike in withdrawals led to bailout

Sudden withdrawals totaling about a quarter of Yes Bank’s deposits and the lender’s inability to honour these requests forced the regulator to hasten the State Bank of India-led bailout, with the government-owned financier giving ₹6,500 crore of emergency funding to the private bank.

from Banking/Finance-Industry-Economic Times https://ift.tt/3b4iicx
Read more »

Banks are adopting account aggregator framework on data

Account aggregators are responsible for transferring, but not storing, client data. An AA ecosystem, as envisaged by the Reserve Bank of India (RBI), would be a platform for financial services companies to reach out to the consumer to seek consent before using their personal data to optimise their product offerings.

from Banking/Finance-Industry-Economic Times https://ift.tt/3aZg9P0
Read more »

Popular Posts

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