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.

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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

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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.

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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.

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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.

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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.

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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

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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

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Multiplex players seek nod to reopen in non-containment zones

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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.

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Bank deposits growth slides for first time in three months; customers stay away from taking loans

While the deposits grew only 1 percentage point faster than the year-ago level in the fortnight ending-June 19, the growth of bank loans nearly halved from 12 per cent to 6.2 per cent on-year in the same duration.

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United Bank to offer insurance products after merger with Andhra Bank and Corporation Bank

Our BureauFollowing the amalgamation of Andhra Bank and Corporation Bank with Union Bank of India (UBI) with effect from April 1, the 9,500-plus bran

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Bring State Financial Corporations under ECLGS ambit, urges Kerala FM

Vinson Kurian Kerala Finance Minister Thomas Isaac has requested Union Finance Minister Nirmala Sitharaman to bring the better performing State Financ

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Second tranche of Bharat Bond ETFs to open in July

The government on Thursday announced the launch of the second tranche of the BHARAT Bond Exchange Traded Fund (ETF) in July. Investments in the ETF,

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Gold loans shine as small businesses, borrowers look for ready cash

SurabhiAs banks become cautious about lending, gold loans have turned into an easy and quick option for small businesses and individuals looking for

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Balance sheet strength of corporates key to survive Covid-19 crisis: SBI’s Ecowrap

The balance sheet strength of corporates is key to survive the Covid-19 pandemic, according to State Bank of India’s economic research report ‘Ecowrap

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Equitas SFB launches video KYC account

Equitas Small Finance Bank has launched video KYC account, which would enable any person anywhere in the country to open a savings account with the le

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ET in the Classroom: How to evaluate life insurance stocks

The National Stock Exchange (NSE) will replace Vedanta with HDFC Life effective from July 31. ET presents some of the key factors to consider while valuing and comparing these stocks.

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Covid-19: SBI issues guidelines to offices, branches in Kerala

The Circle Office of State Bank of India in Kerala has issued a circular on Covid-19 preventive and precautionary measures to be implemented at all

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RBI may offer more relief to stressed sectors

The Reserve Bank of India (RBI) may unveil more relief measures for some of the stressed sectors of the economy, especially in the services segment, as efforts are stepped up to help them emerge from the bruising impact of the lockdown.

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Axis Bank to close British subsidiary, focus on Indian business

"In line with this objective, the bank has taken a decision to fully wind down and close the operations of Axis Bank UK Ltd, a subsidiary of the bank, and targeting for surrendering of the banking licence by end of April 2021," bank said in regulatory filings at stock exchanges late on Thursday after closing hours.

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SBI sanctions Rs 300 crore term loan to PFS

The loan has a tenor of three years including a moratorium of six months, an official statement said.

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Bank credit grows 6.18%, deposits 11%: RBI data

Rating agency Crisil in a recent report said bank credit growth is likely to nosedive to a multi-decadal low of 0-1 per cent in 2020-21 as economic activity is sharply impacted by the COVID-19 pandemic.

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Bribery case: Yes Bank founder Rana Kapoor gets interim protection till July 11

Kapoor had moved an anticipatory bail application before a special CBI court

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Axis Bank to raise ₹15,000 crore as capital

Our BureauPrivate sector lender Axis Bank will raise ₹15,000 crore as capital through various instruments. The decision was taken at a meeting of the

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How treasury gains aided banks’ earnings in Q4

Weak core earnings and higher NPA/ Covid provisions would have dragged profits further, had it not been for the bump up in treasury income

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Kotak Mahindra Bank, Innoviti tie up to offer EMIs

Kotak Mahindra Bank and Innoviti Payment Solutions on Thursday announced that they have collaborated to offer equated monthly instalments (EMI) billi

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Restoring depositors’ faith in banking: Govt’s crucial framework amendment may prop up banks’ rating

Moody's Investors Service on Thursday said the amendments to India's bank resolution framework are credit positive as they will help preserve depositor confidence. 

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NBFIs to face liquidity, asset quality risks in near term: Fitch

The non-banking financial institutions will continue to face elevated liquidity and asset quality risks in the near term even as the economic activity picks up with easing of lockdown restrictions, Fitch Ratings said on Thursday.

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HDFC Bank to offer instant contactless, instant auto loans in 1,000 cities

HDFC Bank has launched pre-approved instant auto loans to its customers across 1,000 cities. HDFC Bank’s online auto loan offering. ZipDrive, is a technology-enabled loan product where credit assessment is done by banking software rather than employees and loan released in seconds.

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Banking Act amendment is credit positive for depositors, says Moody's

Yes Bank was the latest to be put under moratorium on March 5 after it failed to raise capital in time. Depositors could not withdraw more than Rs 50,000 from their accounts. Also, electronic transactions to and from Yes Bank accounts were frozen, causing some borrowers to miss their monthly payments. Moody's said the new amendments will help depositor confidence.

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Release Sishu loan interest subvention amounts to borrowers, SIDBI tells banks

The Small Industries Development Bank of India (SIDBI) has asked banks and other member lending institutions (MLIs) to ensure release of interest subv

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HDFC Bank launches instant auto loan product

HDFC Bank on Thursday announced its plans to offer instant auto loans called ZipDrive to its customers in 1,000 cities.“The offering is now being exte

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Axis Bank plans to raise ₹15,000 crore as capital

Private sector lender Axis Bank will raise ₹15,000 crore as capital through various instruments.The decision was taken at a meeting of the bank’s boar

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Liquidity, asset-quality will remain challenging for NBFIs: Fitch Ratings

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UPI payments bounce back; soar to record high in June after nose-diving in April due to lockdown

Unified Payments Interface (UPI) payments in June soared to a record high of 1.34 billion in terms of volume with India starting to limp towards normalcy amid the coronavirus pandemic.

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HFCs better placed than other NBFCs in terms of asset quality: Report

“Portfolio under moratorium for some large NBFCs is as high as 70- 80%, with the sectoral average of about 52%, while for HFCs the average is about 28% " said A M Karthik, Vice President and Sector Head, Financial Sector Ratings ICRA "The additional covid-19 -related provision carried by NBFCs is about 0.7% (of the AUM), while for HFCs is about 0.2%."

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UPI payments hit all-time high of 1.34 bn transactions in June

UPI payments had fell to 999.57 million in terms of volume with transactions worth Rs 1.51 lakh crore in April, following the coronavirus-induced lockdown that halted almost all services, except essentials. Online payments slowly gathered pace from May, with staggered opening of the economy.

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Credit to MSMEs shrinks up to 7.6% between March & May

Loans outstanding to individuals fell 3% as consumption took a hit, according to RBI data

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Non-bank NPAs could rise to 5-7% by March 2021: ICRA

The asset quality of non-banking finance companies (NBFCs) could weaken sharply in the current fiscal, as the Covid-19-related lockdowns have signific

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Niti Aayog plans to hire chief economist

The post will attract remuneration of up to Rs 3,30,000 a month. The appointment would initially be for three years, and can be extended up to five years, depending on the requirements or till the age of 60 years, whichever is earlier.

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Chinese banks go slow on large loans

Charge filings with the Ministry of Corporate Affairs, compiled by data intelligence provider Propstack, show that ICBC and CDB have not disbursed any large-ticket term loan in India since 2018.

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Investing and Forecasting by Anand Vardarjan, Business Head, Tata MF

In 1906 famous statistician Francis Galton attended a fair in Plymouth where participants had to guess the weight of an ox and the one who guessed it right, ...

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Corona Impact: Worried bankers want to function at 50% strength

All India Bank Employees' Association (AIBEA) has written to the chief secretary of Maharashtra, and Indian Banks’ Association (IBA) to allow banks to function at 50% strength.

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Only 25 percent of NBFCs sought moratorium, says CARE study

More than four-fifths of the housing finance companies (HFCs) did not approach lenders for this relief. But more than 70% MFIs — and about a quarter of the realty-focused wholesale and retail NBFCs — sought relief, the research showed.

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RBI issues guidelines for Rs 30,000-crore NBFC liquidity facility

The SPV will purchase short-term papers from eligible NBFCs and housing finance companies (HFCs), who shall utilise the proceeds under this scheme solely for the purpose of extinguishing existing liabilities.

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SBI seeks external consultants for risk management division

The empanelled consultancy firms will be engaged on a time & material (T&M) basis for deployment at bank departments.

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Eyeing big mop-up: Govt refrains from cutting small savings rates in Q2

The NSSF was already budgetted to finance as much as 30.1% of the deficit in FY21, not far from the record 31.3% in the last fiscal.

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Banks sanction Rs 62,870 crore to over 70 lakh Kisan Credit Card holders

In May, the government had said that 2.5 crore farmers, including fishermen and those involved in animal husbandry, would get Rs 2 lakh crore of concessional credit through Kisan Credit Cards.

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RBI asks banks to speed up ATM upgrades as deadline looms large

Most banks have not initiated upgrades on cassette swap, e-surveillance and digital locks as their cost analysis of such an overhaul is significantly higher than central bank’s estimates, said people aware of the matter.

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Blackstone leads race for major stake in L&T MF

Private equity firm Blackstone Group has emerged as the front-runner to acquire a significant stake in Mumbai-based L&T Mutual Fund. Stock broke

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RBI liquidity scheme for NBFCs/ HFCs to mitigate risk of defaults for banks, MFs

But the scheme will offer relief only to certain NBFCs, for the short-term. Clarity over group limits is also critical

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NBFCs, HFCs with more than 6pc net NPAs won't be eligible for special liquidity scheme: RBI

The NBFC will also need to have capital adequacy above 15 per cent to become eligible while for HFCs it needs to be over 12 per cent as on March 31, 2019.

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No relief for banks in 2 years; drop in business activity, personal incomes amid COVID-19 hit balance sheets

Indian banks may continue to face heightened asset quality and earning pressure for at least two years, as disruption to business activity and supply chains and shrinking personal incomes damage banks' balance sheets.

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Now, get a gold loan sitting at home

Muthoot Finance’s Loan@Home digital service takes into account Covid-related movement restrictions and safety concerns

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Centre approves forming special purpose vehicle to support NBFCs/HFCs to raise liquidity

The Centre has approved a special scheme to improve the liquidity position of Non-Banking Finance Companies (NBFCs)/Housing Finance Companies (HFCs) t

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Online sale of non-essential goods returning to pre-Covid levels

Sangeetha Chengappa / Forum Gandhi Sale of non-essential goods on online platforms, which had come to a standstill during the lockdown, is beginning t

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UPI, Bharat BillPay transactions scale new high in June

SurabhiDigital payments registered a sharp rebound in June as the economy began to slowly open up and consumers continuing to prefer contactless pa

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Covid will leave banking system with capital shortfall of at least $15 billion over two years: Fitch

Capital requirements could soar to $58 billion in FY22 if economic contraction is worse than expected, says ratings agency

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No change in small savings rates for July-Sept quarter

Govt’s move will encourage more people to invest in small savings

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Aye Finance to open up lending tap in July to micro enterprises

Sees 25-30 per cent overall growth in loan portfolio in FY20-21 if Covid-19-induced disruptions settle by September

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Parminder Chopra takes over as Power Finance Corporation Director (Finance)

Chopra was working as Executive Director (Finance) at Power Finance Corporation (PFC) before assuming charge as Director (Finance), PFC. With over 32 years of experience, she specialises in handling core finance functions such as fund mobilisation, corporate accounts, banking and treasury, asset-liability management and stressed asset resolution.

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Home loans, credit card debt slump in April-May

Bank loans to individuals under the personal segment shrunk by Rs 74,790 crore in April and May 2020 driven by a sharp drop in credit card outstanding and a decline in loans against fixed deposits. Bank advances to the services sector and industry also recorded a sharp drop.

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Premji Invest and SBI General Insurance explore joint bid to acquire Future Generali: Report

Last year, Premji Invest had acquired a 16.01 per cent stake in SBI General Insurance Company from Insurance Australia Group

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New India Assurance posts ₹127-crore net profit in Q4

State-run general insurer New India Assurance reported a net profit of ₹126.6 crore for the fourth quarter of 2019-20, compared to a net loss of ₹270.

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Chola Insurance sees traction in health, two-wheeler, tractor biz amid overall industry decline

Chola MS General Insurance has indicated that the company is reaching close to pre-Covid-19 levels in two-wheeler insurance business, even as the over

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April-May bank loan contraction lesser than last year's

Loan growth to all major sectors contracted during April-May, RBI data shows. Loans to industry contracted 1.5 per cent compared to 2.5 per cent dip last year. Loans to services contracted 2 per cent compared to a dip of 5.3 per cent last year. These two sectors account for about 60 per cent of the banking sector's loan portfolio.

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India’s external debt stood at USD 558.5 billion in March: RBI data

The data released on Tuesday showed that valuation gains due to the appreciation of the US dollar against the Indian rupee and other major currencies were at USD 16.6 billion.

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Non-food bank credit growth decelerates to 6.8% in May

Non-food bank credit growth decelerated to 6.8 per cent in May 2020 from 11.4 per cent in May 2019 due to deceleration in credit growth to agriculture

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India registers surplus $0.6 billion in current account in Q4

The surplus is primarily on account of lower trade deficit at $35 billion in the March quarter, says RBI

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Chairman, two directors of Dhanlaxmi Bank resign

Sajeev Krishnan, Part-time Chairman and independent director of Dhanlaxmi Bank, has resigned from the Board due to personal reasons, the bank said o

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ECLGS: Loan sanctioned exceed ₹1-lakh crore

Our Bureau The much talked about ₹3-lakh crore 100 per cent Emergency Credit Line Guarantee Scheme (ECLGS) to support MSMEs in these trying times has

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Lakshmi Vilas Bank appoints CFO

Our BureauLakshmi Vilas Bank, on Tuesday, appointed Hariharan K as Chief Financial Officer. “…the audit committee of the board and the board, in thei

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Multiplex chains to remain shut for another month

Multiplex chains will remain shut at least for another month as the Central government has not given them the nod to open doorsin its latest guideline

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Loan recasts to only defer problem, NPAs may zoom up to 14pc due to COVID-19: S&P

The coronavirus pandemic has led to prolonged lockdowns and a chilling of economic activity, forcing the RBI to declare a six-month voluntary moratorium on loan repayments till September.

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HDFC Bank launches app for farmers

Private sector lender HDFC Bank has launch e-Kisaan Dhan app for farmers across India to access a bouquet of agricultural and banking services on thei

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Old legal cases haunt companies acquiring assets under IBC

Two years after it was acquired, the old serious fraud cases of Bhushan Steel Ltd (now Tata Steel BSL) and its subsidiary Angul Energy Ltd, continue t

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India’s lenders were recovering, until coronavirus set them back by years; NPAs to jump this fiscal

India’s banking sector, after a series of reforms, was finally treading on the path of recovery where it was getting a grip of the bad assets and bringing credit costs in control, however, the coronavirus pandemic has dealt such a blow to the sector that recovery is now a distant dream.

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SBI launches YONO branches in Navi Mumbai, Indore, Gurugram

Move gives the bank’s digital banking app a brick-and-mortar presence

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Covid-19: Bank staff in Kerala gripped by fear of community spread

The suspected potential for community spread of the Covid-19 pandemic has raised the hackles of bank staff in North Kerala, which is witnessing incre

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Indian banks’ NPLs to spike to 13-14% of total loans, warns S&P

The Covid-19 pandemic may set back the recovery of India’s banking sector by years, which could hit credit flows and, ultimately, the economy, warned

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Swiggy ties up with ICICI Bank to launch digital wallet

‘Swiggy Money’ helps customers hassle-free payment for food orders

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Axis Bank board to meet on July 2 to explore fund raising

The board of directors of private sector lender Axis Bank will meet on July 2 to look at fund-raising plans.While the bank did not specify the amount

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Covid-19 fallout: Insurance plans with OPD component covering mental illnesses to see spike in demand

Insurance plans with specific OPD component covering mental illnesses is likely to witness a rise with the Covid-19 pandemic triggering a surge in ins

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Fino Payments Bank looks to other States after success in onboarding women bankers through Bihar’s Jeevika scheme

Fino Payments Bank, which has been working with the Bihar government to train women through the state’s Jeevika scheme to work as customer service poi

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J&K Bank slips into red with ₹294-crore Q4 net loss

Jammu & Kashmir Bank (J&K Bank) has slipped into the red, reporting a standalone net loss of ₹294 crore for the fourth quarter ended March 3

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SBI urges UK Home Secretary to reject Vijay Mallya’s asylum plea

The missive is being seen as part of a collective effort by Indian banks, investigative agencies and other entities to put pressure on the UK government to hasten Mallya’s return to India.

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Digital payments bounce back to pre-Covid levels

UPI, operated by the National Payments Corp of India (NPCI), processed 1.42 billion transactions worth ₹2.31 lakh crore until June 28, the most recorded by the channel in a month, Reserve Bank of India (RBI) data showed.

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Covid-19: With no sign of crisis abating, HDFC Bank looks to build war chest to fund growth

Of late, there has been greater acceptance of that event and the market now understands better the full extent of risk associated with AT1 bonds.

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SBI discloses how much of its loan book was under moratorium as on March 31 – figures are big

The decline in SBI’s moratorium book is in line with the overall trend in the banking system of fewer borrowers extending their moratorium into the second phase.

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RBI announces special OMOs, to buy and sell G-secs worth Rs 10,000 crore each

The central bank is looking to sell treasury bills maturing in 2020 and 2021, while intending to buy government securities maturing between 2027 and 2033.

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Axis Bank appoints LIC MD T C Suseel Kumar on its board

The proposal relating to the appointment of Kumar as the additional non-executive (nominee) director of the bank will be subject to the approval of shareholders at the 26th Annual General Meeting, Axis Bank said in a regulatory filing.

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RBI needs to revisit policy restricting big corporates from promoting banks, says former deputy governor R Gandhi

Gandhi also said that India is too large a country both geographically and also when looked at from a diversity perspective, and hence, we require all sizes of banks which serve each one's needs.

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Central Bank of India Q4 net loss narrows to ₹1,529 crore

Our BureauCentral Bank of India’s net loss narrowed to ₹1,529 crore in the fourth quarter ended March 31, 2020, against ₹2,477 crore in the year-ago q

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Equitas SFB to offer gold loans to customers

Our BureauEquitas Small Finance Bank is offering gold loans to customers to meet their cash requirements. “Loans secured by gold jewellery of customer

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RBI needs to revisit policy restricting big corporates from promoting banks: R Gandhi

He said the needs and aspirations of the Indian economy make it necessary to look at sources of large capital from entering the banking fray, so that large projects can be supported and also pitched for a renewed thrust to be given to the wholesale banks model.

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Yes Bank to auction properties of Essel Infra, SKIL Infra in July to recover dues

The private bank on July 8 will auction properties owned by Essel Infraprojects in Mumbai. It has also put under the hammer properties owned by another group firm Rama Associates.

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COVID-19 impact: RBI may opt for loan recast for select sectors

The central bank has taken note of all the suggestions, and a detailed examination of various recommendations are being undertaken, the sources said.

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Yes Bank to auction properties of Essel Infra, SKIL Infra in July to recover dues

The private bank on July 8 will auction properties owned by Essel Infraprojects in Mumbai. It has also put under the hammer properties owned by another group firm Rama Associates. It selling properties to recover dues of Rs 556.53 crore, according to a public notice by Yes Bank.

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Bullish on India, Mastercard plans to invest $1 billion in next five years

Mastercard, a technology company in the global payments industry, will invest $1 billion in India over the next five years. The proposed investments,

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RBI to conduct fresh OMO purchase of govt securities

The Reserve Bank of India (RBI) has decided to conduct simultaneous purchase of Government Securities (G-Secs), maturing between 2027 and 2031, and sa

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PFRDA introduces OTP-based onboarding for NPS scheme

Investors can now open an NPS account through internet banking using OTP received on their registered mobile number

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IndiaFirst Life to offer Covid-19 and hospital cash cover to Bank of Baroda credit card customers

IndiaFirst Life Insurance has associated with BOB Financial Services Ltd (BOB Financial), a wholly-owned subsidiary of Bank of Baroda, to offer group

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IOB converts landmine of NPAs into goldmine, says CEO

K Ram KumarIndian Overseas Bank (IOB), which has been under the Reserve Bank of India’s prompt corrective action (PCA) since October 2015, is now out

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COVID-19: SBI economists pitch for 2nd round of financial package for impacted sectors

The markets shed over a fifth of their value in the early days of the COVID-19 pandemic and have recouped some of the losses in the last few weeks. Interestingly, the gains happened even as the chorus of a contraction in GDP started among the analysts, wherein some expect a negative growth of up to 5 per cent in 2020-21.

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Fintech, digital lenders launch schemes for MSME credit

As banks are being prodded by the government to extend liquidity support to micro, small and medium enterprises (MSMEs), a number of digital lenders a

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NBFC ratings cut at S&P as Covid-19 pandemic worsens liquidity woes

Credit scores of several non-banking financial companies (NBFCs) were downgraded by S&P Global Ratings due to liquidity risks amid the pandemic-i

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Goldman India CEO tells clients liquidity is the biggest theme

Goldman Sachs Group Inc is telling clients in India to fortify their balance sheets to prepare for the uncertainty brought by the coronavirus pandemic

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Bankers in India are more productive working from home

Work from home may remain part of the norm for many in India’s financial industry beyond the end of the worlds biggest lockdown. The reason: eliminat

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Covid-19: Bankers in India are more productive working from home

As banks and asset managers around the world try to figure out how they’ll manage their offices after the coronavirus pandemic, many in Mumbai -- India’s finance hub -- see the opportunity for permanent change in how they work.

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Bringing co-operative banks under RBI could create challenges for state governments

The central bank and state governments may often end up in courts over the powers of the RBI in overruling the managements of the lenders if the veto power vested with the regulator through the amendments to the Act clashes with the interests of local politicians who mostly control co-operative banks, analysts said.

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DCB Bank plans to raise up to Rs 1,000 crore via equity, debt instruments

The private sector lender's AGM will take place on July 11 through video conferencing (VC) and other audio-visual means, DCB Bank said in its annual report 2019-20.

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Maharashtra banks unable to offer fresh crop loans to defaulting farmers

Banks in Maharashtra are unable to sanction fresh crop loans to some farmers as rules don’t permit them to extend fresh crop loans in cases where thei

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Tamilnad Mercantile Bank records 58% increase in FY20 net profit

Loans to priority sector like agri, MSME, education up by 10.50%

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Yes Bank invokes pledged shares of Jhabua Power and Avantha Realty

Private sector lender Yes Bank has acquired stake by invoking pledged shares of Jhabua Power and Avantha Realty after default of loans.In a regulatory

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Banks report higher demand for car, consumer-durable loans

However, NBFCs say demand largely coming from small businesses, shopkeepers

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No plans to sell non-core assets during this fiscal: PNB Chief

There are no plans to sell non-core assets, including subsidiaries, in the current financial year, Punjab National Bank managing director S S Mallikarjuna Rao has said.

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No plans to sell non-core assets during this fiscal: PNB Chief

"We have a lot of real estate assets because of the merger. We are planning to sell some of them. We are planning to sell a good amount of these assets by the end of the third quarter provided the market is available. We will be not selling at a discounted price," he said.

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CSB Bank plans to open 101 branches

To focus on mobilising CASA deposits, sourcing gold loans across India before September-end 2020

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Axis Bank clarifies downgrade by S&P is an ‘editorial error’

The bank’s rating outlook is ‘Stable’

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Bankers in India are more productive working from home

Work from home may remain part of the norm for many in India’s financial industry beyond the end of the world’s biggest lockdown. The reason: elimination of lengthy commutes in the past three months has boosted employee productivity.

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Airtel Payments Bank CEO says revenue up 87% in FY20; sees headroom for growth

Airtel Payments Bank's revenues rose 87% to Rs 474 crore during FY20, driven by surge in digital payments, money transfer and offtake of new services, according to its MD and CEO Anubrata Biswas.

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In FY’20, more than 77 per cent of borrowers are first generation entrepreneurs: Survey

Nearly 77.6 per cent of the borrowers in financial year 2020 were first-generation entrepreneurs, of which 14.5 per cent moved out of the informal sec

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IDBI Bank selling its stake in IDBI Federal Life Insurance

As on March 31, 2019, the IDBI Federal Life Insurance has issued over 13 lakh policies and has total assets under management of ₹9,107 crore and a capital base of over 800 crores, as on March 31, 2019.

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PMC scam effect: Ordinance to bring cooperative banks under RBI regulation notified

The Banking Regulation Act (amendment) Ordinance enables cooperative banks to raise money via public issue and private placement, of equity or preference shares and unsecured debentures, subject to the central’s bank’s approval.

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