6:54 PM
Blogger
A day after suggesting that Indian economy is "poised to recover" as indicated by high levels of loan sanctions by banks over last two months, Finance Minister Nirmala Sitharaman on Saturday pointed out that banks are leaving no stone unturned to ensure that the current coronavirus situation does not result in liquidity crisis for businesses.
6:21 PM
Blogger
5:39 PM
Blogger
5:32 PM
Blogger
ICICI Bank on Saturday reported a 26 per cent rise in standalone net profit at Rs 1,221 crore for the March quarter. The bank had posted a net profit of Rs 969 crore in the corresponding January-March period of 2018-19.
3:53 PM
Blogger
A `Bad Bank' is being touted as the panacea for industry’s ills, yet again.
3:39 PM
Blogger
2:39 PM
Blogger
1:31 PM
Blogger
Three promoters of Ram Dev International, recently booked by the Central Bureau of Investigation (CBI) for allegedly cheating a consortium of six banks to the tune of Rs 411 crore, have already fled the country before the State Bank of India (SBI) reached the agency with the complaint, officials said on Saturday.
1:21 PM
Blogger
12:58 PM
Blogger
The CBI had recently booked the company engaged in export of Basmati rice to the West Asian and European countries and its directors Naresh Kumar, Suresh Kumar and Sangita on the basis of complaint from the State Bank of India (SBI), which suffered the loss of more than Rs 173 crore, they said.
10:58 AM
Blogger
“Anyone who has not been able to pay because of the moratorium, we have taken care to not report them to rating agencies,” Yes Bank managing director Prashant Kumar said. “Customers cannot be penalised for that.”
11:12 PM
Blogger
In the previous fortnight which ended on April 10, 2020, bank credit had grown by 7.20 per cent and deposits by 9.45 per cent.
8:47 PM
Blogger
8:42 PM
Blogger
Union Bank of India announced reduction in its MCLR up to 15 basis points across all tenors, effective May 11. Overnight MCLR has been reduced by 15 bps to 7.15 per cent from 7.30 per cent and one-month MCLR by 10 bps to 7.25 per cent.
7:47 PM
Blogger
7:47 PM
Blogger
7:47 PM
Blogger
6:51 PM
Blogger
6:17 PM
Blogger
6:12 PM
Blogger
"Given that 2020 is going to be an exceptional year with government borrowings set to jump, we believe the time has now come for increasing the demand for bonds by having the necessary amendment in the RBI Act used effectively so that conduct of reverse repo and term reverse repo operations are completely non-collateralized," it said.
3:47 PM
Blogger
3:47 PM
Blogger
3:47 PM
Blogger
2:47 PM
Blogger
2:47 PM
Blogger
2:17 PM
Blogger
1:42 PM
Blogger
The SBI official said the employee was not attending office for the last 8-10 days and was later found to have contracted the deadly virus.
12:47 PM
Blogger
12:17 PM
Blogger
12:01 PM
Blogger
The country's largest lender, State Bank of India (SBI), is offering emergency loans to its customers amid coronavirus lockdown under its 'Emergency Loan Scheme'. SBI users can get up to Rs 5 lakh as loan within "45 minutes", the lender stated on its YONO app.
11:47 AM
Blogger
9:47 AM
Blogger
6:51 AM
Blogger
6:51 AM
Blogger
2:21 AM
Blogger
12:51 AM
Blogger
12:21 AM
Blogger
12:12 AM
Blogger
The borrowers represented the micro, small and medium sized enterprises (MSMEs), retail, agriculture and corporate sectors, which was indicative of an economic revival, said finance minister Nirmala Sitharaman’s office in a tweet on Thursday.
6:47 PM
Blogger
6:47 PM
Blogger
6:21 PM
Blogger
5:42 PM
Blogger
The RBI has allowed banks to extend moratorium to borrowers of term loans of all kinds for three months -- March, April and May. "SBI has taken a decision to extend the moratorium allowed by RBI to the NBFC sector which is facing severe problem of cashflow," Khara said.
4:47 PM
Blogger
4:42 PM
Blogger
The bank which was under RBI's administration since 2014, failed to come up with a satisfactory revival plan, after which the banking regulator cancelled its license. Majority of the bank's depositors now get 100 per cent of their money back. The government hiked the minimum deposit insurance cover from Rs 1 lakh to Rs 5 lakh in its budget announcement in February.
4:31 PM
Blogger
The SBI on Thursday slashed benchmark lending rate by 0.15 basis points (bps), and introduced special deposit scheme for senior citizens with higher interest rate. To safeguard the interests of senior citizens in the current falling rate regime, the bank has introduced a new product 'SBI Wecare Deposit' in the retail term deposit segment, SBI said in a statement.
4:17 PM
Blogger
3:47 PM
Blogger
1:42 PM
Blogger
The COVID-19 crisis is expected to have a heavy impact on the economy and many corporates have been cutting salaries. Some have also retrenched staff, with the unorganised sector being hit the most. The unemployment rate in India touched 27 per cent in the week to May 3, according to think-tank CMIE.
10:47 AM
Blogger
10:42 AM
Blogger
For overnight, one month, three months and six months, MCLR have been reduced to 7.40 per cent, 7.50 per cent, 7.60 per cent and 7.70 per cent, respectively.
9:47 AM
Blogger
9:47 AM
Blogger
9:47 AM
Blogger
8:47 AM
Blogger
8:42 AM
Blogger
Those eligible for the benefit will have to show a cash shortage to prove that they will not use the relief to divert funds for other purposes.
7:31 AM
Blogger
Private lender Yes Bank on Wednesday posted a standalone net loss of Rs 3,668 crore for the fourth quarter ended March 31, 2020. The bank had reported a net loss of Rs 1,506 crore in the same period last year.
7:01 AM
Blogger
Private lender Yes Bank on Wednesday posted a standalone net loss of Rs 3,668 crore for the fourth quarter ended March 31, 2020. The bank had reported a net loss of Rs 1,506 crore in the same period last year.
12:51 AM
Blogger
12:17 AM
Blogger
12:01 AM
Blogger
Private lender Yes Bank on Wednesday posted a standalone net loss of Rs 3,668 crore for the fourth quarter ended March 31, 2020. The bank had reported a net loss of Rs 1,506 crore in the same period last year.
10:21 PM
Blogger
10:17 PM
Blogger
9:51 PM
Blogger
8:47 PM
Blogger
8:42 PM
Blogger
The company has already has the IT setup and provisions for employees to be allowed to work form home in future as well, said PK Singh, director (commercial) in-charge of HR. Edited excerpts of an interview with ET’s Rica Bhattacharyya.
8:12 PM
Blogger
These companies have undertaken massive exercises to retrain agents to approach and convince customers to buy new policies and renew premiums entirely through digital channels such as WhatsApp or Zoom, while also rejigging sales strategies starting right from the drafts used by agents to approach prospective customers, said people aware of the developments.
7:47 PM
Blogger
7:17 PM
Blogger
6:42 PM
Blogger
The organisation is looking to retain all its 10,000+ employees, making sure that they have the protection and support they need in the current environment.
6:21 PM
Blogger
6:12 PM
Blogger
Rana Kapoor and his family members allegedly got benefits worth Rs 4,300 crore through the companies controlled by them as kickbacks for sanctioning huge loans, the ED has alleged.
5:42 PM
Blogger
RBI had earlier announced a three-month moratorium on loans by banks to NBFCs.
5:32 PM
Blogger
The Enforcement Directorate on Wednesday filed a charge sheet against Yes Bank co-founder Rana Kapoor, arrested on money laundering charges, in a special court. Kapoor, the former MD and CEO of Yes Bank, was arrested by the ED on March 8 under the Prevention of Money Laundering Act (PMLA). He is accused of sanctioning loans to certain firms against kickbacks.
4:42 PM
Blogger
As part of the brand building exercise, the State Bank of India (SBI) is looking for a public relations agency to help it become the preferred choice of customers for their banking needs.
1:47 PM
Blogger
12:42 PM
Blogger
The Reserve Bank of India swiftly came out with guidelines to plug the identified gap and mandated banks to implement these on utmost priority. Banks took the necessary steps and met the regulatory directive of integrating the two systems mentioned earlier in this note.
12:17 PM
Blogger
10:47 AM
Blogger
10:47 AM
Blogger
7:42 AM
Blogger
An SMA2 loan which has been given moratorium and is not serviced by the borrower becomes an NPA by March 30. Such a loan will attract a total provisioning of 10% — of which 5% will be as of March-end and another 5% at the close of the June quarter.
1:20 AM
Blogger
While the denial of liquidity support from banks has already made life difficult for the MFIs, the refusal of even sanctioned loans is further crippling them. This could result in lower on-lending to end-borrowers leading to a surge in defaults by them, even after the moratorium is lifted. Many of the businesses dependent on MFIs can’t survive without the money flow.
12:07 AM
Blogger
10:20 PM
Blogger
Extension of the RBI announced three month moratorium on loans by banks to NBFCs has been a borne of contention between banks as some large lenders led by SBI have refused to extend it to NBFCs citing misuse by these borrowers.
9:26 PM
Blogger
9:20 PM
Blogger
Kotak's 'ATM on Wheels' gives citizens of the Delhi-NCR region convenient and easy access to cash withdrawal services in their locality. All safety procedures, including providing hand sanitisers to every customer before use of the ATM, periodic sanitisation of the ATM and maintaining social distancing, will be strictly followed, Kotak said.
7:56 PM
Blogger
6:32 PM
Blogger
India is developing a land pool nearly double the size of Luxembourg to lure businesses moving out of China, as per sources. A total area of 461,589 hectares has been identified which includes 115,131 hectares of existing industrial land in Gujarat, Maharashtra, Tamil Nadu and Andhra Pradesh. Luxembourg is spread across 243,000 hectares, as per the World Bank.
6:07 PM
Blogger
5:37 PM
Blogger
4:56 PM
Blogger
4:26 PM
Blogger
4:26 PM
Blogger
3:56 PM
Blogger
3:37 PM
Blogger
2:56 PM
Blogger
2:37 PM
Blogger
2:32 PM
Blogger
State-owned banks' non-performing loans are likely to rise by 2-4 percentage points, which will put up to $15 billion recapitalisation pressure on the government in FY21, a foreign brokerage firm said on Tuesday.
1:20 PM
Blogger
NBFCs have also demanded for extension of the Reserve Bank of India's moratorium to them, relaxation on provisioning norms and additional funding from Small industrial Development Bank of India (SIDBI) and National Bank for Agriculture and Rural Development (NABARD) through refinance mechanism.
12:56 PM
Blogger
11:26 AM
Blogger
10:32 AM
Blogger
Equity benchmark sensex surged over 500 points in opening trade on Tuesday led by gains in index-heavyweights Reliance Industries, HDFC duo and ICICI Bank amid thin trade in Asian markets.
8:20 AM
Blogger
Aimed at promoting financial inclusion and providing digital payment services in rural and remote areas, such transactions totalled 430 million, amounting to Rs 16,101 crore, during the lockdown, the ministry said in a post on microblogging site Twitter.
7:07 AM
Blogger
1:07 AM
Blogger
12:20 AM
Blogger
In an internal memo, SBI asked its staff at the headquarters not to attend office on May 5 as it was undertaking a deep cleaning and sanitisation of its premises. SBI had reduced office hours by an hour and all employees are supposed to exit the office by 5 pm.
11:20 PM
Blogger
The industry leaders said that smaller firms could not access the TLTRO, which RBI created to pump in liquidity through the banking channel. RBI told banks to borrow from it and invest at least half of it in money market instruments issued by small and medium sized NBFC and MFIs. The first auction of Rs 25000 crore saw bids for just above 50% of it.
9:26 PM
Blogger
9:20 PM
Blogger
Income stream will not resume due to the continuation of nationwide lockdown, the sources said, adding that so many entities and individuals will be unable to service their debt in this circumstances at the end of the present moratorium period ending on May 31.
7:56 PM
Blogger
7:56 PM
Blogger
5:20 PM
Blogger
The lenders have also agreed to extend the three-month moratorium provided by the RBI on term loans to borrowers, the statement said, adding, collections will be made only from customers who have opted out of it.
4:56 PM
Blogger
1:26 PM
Blogger
9:32 AM
Blogger
India expects bad debts at its banks could double after the coronavirus crisis brought the economy to a sudden halt, a senior government official and four top bankers told Reuters.
9:02 AM
Blogger
The RBI has said that of the 1.3 lakh depositors of CKP Co-operative Bank, about 99.2% will get full payment of their deposits from the Deposit Insurance and Credit Guarantee Corporation.
8:50 AM
Blogger
Indian banks are already grappling with 9.35 trillion rupees ($123 billion) of soured loans, which was equivalent to about 9.1% of their total assets at the end of September 2019.
7:50 AM
Blogger
The crypto exchanges have written to RBI and sought clarity on their status as lenders continue to deny banking services to them due to a lack of clear instructions from the regulator.
1:07 AM
Blogger
12:20 AM
Blogger
During a meeting over video conferencing, central bank officials also told bankers that they could use their discretion to decide the eligibility of firms based on their credit and liquidity profile, multiple people familiar with the matter said.
12:07 AM
Blogger
10:26 PM
Blogger
10:20 PM
Blogger
Gold loans for business purposes are mostly used by small businesses as short-term working capital for stocking. With gold prices hovering around Rs 47,000 per 10 gm, small businesses will need to take loans to resume operations, said industry executives.
9:07 PM
Blogger
7:37 PM
Blogger
6:26 PM
Blogger
1:50 PM
Blogger
The NPA of Bank of Baroda (BoB) rose from Rs 11,876 crore at March-end 2014 to Rs 73,140 crore at December-end 2019, the RTI reply showed. NPAs of Indian Bank surged from Rs 8,068.05 crore as on March 31, 2014, to Rs 32,561.26 crore as on March 31, 2020.
1:37 PM
Blogger
10:56 AM
Blogger
10:56 AM
Blogger
RSS Feed
Twitter
