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

"In such a situation, it has become a lot more important that the banks have to improve their governance, sharpen their risk management skills and banks have to raise capital on an anticipatory basis instead of waiting for a situation to arise. "Proactively, it is necessary for both public and private sector banks to build up adequate capital buffers," Das said at SBI's banking and economic conclave. from Banking/Finance-Industry-Economic Times https://ift.tt/2ZkJb...

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

The economic impact of the pandemic - due to lock-down and anticipated post lock-down compression in economic growth - may result in higher non-performing assets and capital erosion of banks, he said. from Banking & Finance – The Financial Express https://ift.tt/2W3Ws...

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

A duplicate branch of State Bank of India, running for the past three months, was identified and closed down by the Tamil Nadu police yesterday and three people were arrested in the case. from Banking & Finance – The Financial Express https://ift.tt/2BQiD...

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

Tamil Nadu Grama Bank (TNGB) clocked a net profit of ₹150 crore in its first year of operation.The Salem-headquartered bank is an amalgamated entity from Business Line - Money & Banking https://ift.tt/2CmXX...

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

Scam-hit Punjab and Maharashtra Co-operative (PMC) Bank’s losses are very high, eroding deposits by more than 50 per cent, according to Governor Shak from Business Line - Money & Banking https://ift.tt/2ZleZ...

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China central bank cuts HDFC stake to below 1%

People’s Bank of China (PBoC), the Chinese central bank that owned a little over 1% in mortgage finance leader HDFC as of March-end, has sold some shares from its holding during the April-June quarter. This has resulted in its stake in the blue-chip company coming down to below 1%. As per Sebi, all listed companies need to disclose entities that hold at least 1% equity. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2WaSv...

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

Reserve Bank of India (RBI) Governor Shaktikanta Das has asked banks and financial institutions to build buffers and raise capital on an anticipatory from Business Line - Money & Banking https://ift.tt/323k6...

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RBI guv calls for resolution corp for stressed lenders

Reserve Bank of India governor Shaktikanta Das has made a case for a resolution corporation that will revive stressed banks and finance companies as an alternative to the traditional practice of merging failed institutions with stronger ones. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3gKNG...

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Indian economy showing signs of returning to normalcy: RBI Governor

Banks will also have to raise capital in an anticipatory basis instead of waiting for a situation to arise, says Shaktikanta Das from Business Line - Money & Banking https://ift.tt/32dwD...

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

Decoding why a large number of lenders have been rushing to raise capital, Reserve bank of India (RBI) Governor Shaktikanta Das, today said that the central bank asked lenders to chalk out plans and keep adequate capital ready to deal with any shocks that come up owing to the coronavirus pandemic. from Banking & Finance – The Financial Express https://ift.tt/3ektu...

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

Indian banks are facing uncertainty with the Reserve Bank of India providing moratorium on payments for six months. But at the same time many private lenders such as Kotak itself Bank and Axis Bank and ICICI Bank are raising capital to meet unforeseen surge in defaults. from Banking/Finance-Industry-Economic Times https://ift.tt/3gFJz...

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

In the retail segment, SBI has observed that its borrowers are hesitant to increase their liabilities and a large number of people are paying. from Banking & Finance – The Financial Express https://ift.tt/3fheF...

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India Inc wary of disclosing whistleblower plaints

Study on 50 NSE-listed firmsshows only 32% revealed details from Business Line - Money & Banking https://ift.tt/3eiBr...

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PNB revises provision amount for DHFL Borrowal Fraud

A day after reporting a Borrowal Fraud of ₹3,688.58 crore in the NPA Account of Dewan Housing Finance Ltd (DHFL), Punjab National Bank (PNB) has now r from Business Line - Money & Banking https://ift.tt/2OchJ...

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

SBI recorded a moratorium book of roughly 20% at the end of May. This may further fall in 2nd leg of EMI-pause. from Banking/Finance-Industry-Economic Times https://ift.tt/2Cl1e...

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

These five banks -- HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank and IndusInd Bank -- collectively control a quarter of the system and three-fourths of the private banking space, according to a report by India Ratings on Friday. from Banking/Finance-Industry-Economic Times https://ift.tt/3ecb4...

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

In a bid to draw in investors for its follow-on public offer (FPO), YES Bank has set the price band at Rs 12-13 per share -- half the current market p from Business Line - Money & Banking https://ift.tt/324Xh...

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EMI moratorium: IRDAI modifies norms of group credit life schemes

The Insurance Regulatory and Development Authority of India (IRDAI) has on Friday modified norms of group credit life schemes to align coverage in li from Business Line - Money & Banking https://ift.tt/2Zfgh...

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Q1 numbers of insurers call for caution

Short-term strategies, addressing reinsurance hassles, cost rationalisation vital from Business Line - Money & Banking https://ift.tt/2CmQe...

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Edelweiss Tokio Life combines life cover with customised pay-outs

Keen to become comprehensive income solutions provider, says MD & CEO Sumit Rai from Business Line - Money & Banking https://ift.tt/2ZVY0...

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

The Reserve Bank of India (RBI) extended the validity of its Directions to Bengaluru-based Sri Guru Raghavendra Sahakara Bank Niyamitha for a further from Business Line - Money & Banking https://ift.tt/324TX...

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

Home loan borrowers with housing finance companies (HFCs) and non-banking lenders are a worried lot. With most public sector banks (PSBs) and a few pr from Business Line - Money & Banking https://ift.tt/2O854...

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

The board of directors at a meeting on Friday considered and approved "raising of capital in aggregate up to Rs 2,000 crore by way of preferential allotment to the Government of India/FI/others/or by way of qualified institutional placement issue/further public issue/rights issue and or/additional tier-1 bonds", the bank said in a regulatory filing. from Banking & Finance – The Financial Express https://ift.tt/2W55Z...

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People’s Bank of China cuts stake in HDFC

The People’s Bank of China (PBOC) has dropped off the list of investors holding at least a 1% stake in the company as of end-June. The PBOC held about 17.5 million shares, accounting for a 1.01% shares, at end-March. It cannot be ascertained if the Chinese central bank continues to hold any stake in the mortgage lender or not. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2ZUMx...

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Union Bank of India, BoB trim MCLR across tenors

Union Bank of India (UBI) and Bank of Baroda (BoB) have cut their marginal cost of funds based lending rate (MCLR) by 20 basis points (bps) and 5 bps, from Business Line - Money & Banking https://ift.tt/38HFc...

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Karnataka Bank Q1 net up 12%

Karnataka Bank Ltd registered a net profit of ₹196.38 crore in the first quarter of 2020-21 as against a net profit of ₹175.42 crore in in the corresp from Business Line - Money & Banking https://ift.tt/38J0g...

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Canara Bank, BoM and SBI announce fund raising plans

Canara Bank and Bank of Maharashtra (BoM) on Friday announced fund raising plans amounting to ₹8,000 crore and ₹3,000 crore, respectively, via equity from Business Line - Money & Banking https://ift.tt/2ZiqJ...

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

Banks are likely to have registered muted growth in the first quarter of the fiscal, and asset quality would be a key focus area. While they are expec from Business Line - Money & Banking https://ift.tt/3eiEj...

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Digital payments surpass govt’s target for FY20

Digital transactions in the country jumped to 4,572 crore, or close to 46 billion, surpassing the target for fiscal 2020, according to a letter from the ministry of electronics and IT sent to bank chiefs last week. Overall transactions grew 46% over the previous year, reiterating the focus on digital payments, which the govt has been pushing since demonetisation in 2016. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2DjW2...

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

"It is informed that an NPA account Maha Associated Hotels Pvt Ltd with outstanding dues of Rs 71.18 crore having provisioning of Rs 44.40 crore has been declared as fraud and reported to RBI as per regulatory requirement", the bank said in an exchange filing. from Banking/Finance-Industry-Economic Times https://ift.tt/3feER...

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

Managing Director Uday Kotak says financial sector will require recapitalisation from Business Line - Money & Banking https://ift.tt/3iOCz...

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

YES Bank has set a floor price of ₹12 per share for its planned follow-on public offer (FPO) with a cap price of ₹13 per share.The decision was taken from Business Line - Money & Banking https://ift.tt/2DswV...

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

Global banks could see credit losses of about $2.1 trillion for 2020 and 2021 spurred by the Covid-19 pandemic, with $1.3 trillion for this year, more from Business Line - Money & Banking https://ift.tt/3edmw...

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

Approaches promoter PNB for participation; sees early signs of real estate sector bottoming out from Business Line - Money & Banking https://ift.tt/2W5aJ...

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

Clix Capital Services Pvt Ltd has a rich pedigree. Formerly known as GE Money Financial Services Pvt Ltd, its parent, the GE group, sold the business from Business Line - Money & Banking https://ift.tt/3fgx8...

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WhatsApp’s conversational banking gains currency during lockdown

Financial services firms see a spurt in use of the channel by their customers from Business Line - Money & Banking https://ift.tt/3ehK8...

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IRDAI forms panel on ‘Indian Pandemic Risk Pool’

The Insurance Regulatory and Development Authority of India (IRDAI) has formed a working group to examine the feasibility of ‘Pandemic Risk Pool’“Th from Business Line - Money & Banking https://ift.tt/3iHLV...

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

The first year premium of life insurers declined 18.64 per cent in the first quarter of the current financial year ended June 30, 2020 compared with from Business Line - Money & Banking https://ift.tt/2W3OW...

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ED attaches assets belonging to Rana Kapoor, Wadhawans

The Enforcement Directorate has attached assets worth ₹2,203 crore belonging to former YES Bank promoter Rana Kapoor, in the private lender fraud ca from Business Line - Money & Banking https://ift.tt/32dpI...

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

The state-run lender said the company was being reported as a fraudulent account to the Reserve Bank of India. Under the rules set by the banking regulator 100% provisioning is required in fraudulent accounts spread across a period of four quarters. The lender has so far made a provision of Rs 1246 crore in the account. from Banking/Finance-Industry-Economic Times https://ift.tt/3edpV...

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Former RBI governor Rangarajan gets the first Mahalanobis award

The first Prof PC Mahalanobis National Award in Official Statistics for lifetime achievement was conferred on former RBI Governor C Rangarajan.In a pr from Business Line - Money & Banking https://ift.tt/3iIcz...

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

The bank will seek shareholders' nod for raising of equity capital for an amount up to Rs 7,000 crore in the forthcoming annual general meeting. from Banking & Finance – The Financial Express https://ift.tt/2BUNh...

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PNB looks to raise up to ₹10,000 crore

The board of directors of Punjab National Bank (PNB), the country’s second largest bank, on Thursday gave its nod for the bank to undertake capital ra from Business Line - Money & Banking https://ift.tt/2ObMx...

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

The company said there are early signs of real estate sector bottoming out after seven years of muted performance. Housing finance business is improving month on month but on the overall basis the disbursements are expected to degrow during the year, the mortgage lender said, after its board okayed the revised business plan for FY21. from Banking/Finance-Industry-Economic Times https://ift.tt/31YFy...

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Mastercard commits ₹250 crore to support small businesses in India

Investment reaffirms the company’s global commitment to support SMEs’ business continuity and financial security from Business Line - Money & Banking https://ift.tt/2OfAy...

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YES Bank FPO to open on July 15

 Private sector lender YES Bank follow on public offer will open on July 15 and close on July 17.It plans to raise as much as ₹15,000 crore, by way of from Business Line - Money & Banking https://ift.tt/2OcWB...

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NBFC loan sanctions fell 15% in Q4 FY20: FIDC

Loan sanctions by non-banking finance companies fell 15 per cent in the fourth quarter of 2019-20.Data released by the Finance Industry Development Co from Business Line - Money & Banking https://ift.tt/3iFmi...

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

In the last financial year 2019-20, the Reserve Bank of India first cut repo rates thrice, announcing one cut of 35 bps, and two of 25 bps each, bringing the policy rate down from 6% in April 2019 to 5.15 per cent from Banking & Finance – The Financial Express https://ift.tt/3e75N...

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

The ED has accused Rana Kapoor, his family members and others of laundering proceeds of crime worth Rs 4,300 crore by receiving alleged kickbacks in lieu of extending big loans through their bank that later turned into non-performing assets (NPA). from Banking/Finance-Industry-Economic Times https://ift.tt/3iEjF...

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

On the heels of several instances of anti-social elements behaving in an unruly manner with bankers coming to light, the Finance Ministry has asked th from Business Line - Money & Banking https://ift.tt/38CG1...

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Banks exceed digital transaction target set for 2019-20

ICICI Bank tops MeitY scorecard, HDFC Bank comes second from Business Line - Money & Banking https://ift.tt/3efjj...

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

Poor earnings performance, weak solvency ratio and falling market share are key concerns from Business Line - Money & Banking https://ift.tt/3ekuM...

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

Banks have responded with a good deal of alacrity on the lending side to the cumulative 160 basis points repo rate-cut in FY20, according to CARE Rati from Business Line - Money & Banking https://ift.tt/2Dgec...

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

After various assault instances on bankers surfaced in the country in recent time, the Finance Ministry has directed states to ramp up security measures for banks’ personnel. from Banking & Finance – The Financial Express https://ift.tt/2Dh4L...

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

Amid growing demand for digital payments in India, these swipe machines are the key hardware to process credit and debit card-based transactions at malls and retail stores. Following the government’s directive to reduce dependence on Chinese goods, payments providers are looking at alternative options, but pricing and legacy challenges may prevent any immediate migration, multiple industry sources told ET. from Banking/Finance-Industry-Economic Times https://ift.tt/2BUiP...

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Improving collections at NBFCs, small lenders signal a pickup

Collections were the highest in asset-backed securities and non-MFI loans at nearly 70%, followed by mortgage-backed loans at 60% and small-ticket borrowing at about 50%. from Banking/Finance-Industry-Economic Times https://ift.tt/3ee0I...

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

Maharashtra, the state with the highest number of cases, alone reported 15,753 claims worth ₹195 crore, followed by Delhi, the worst-affected city, which submitted 5,909 claims worth ₹134 crore. Other states with a high number of claims include Tamil Nadu, Karnataka, Haryana and West Bengal. from Banking/Finance-Industry-Economic Times https://ift.tt/2CjXu...

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

VG Mathew, MD & CEO, while announcing the results mentioned that there has been good growth in the retail, agriculture and MSME portfolios. from Banking & Finance – The Financial Express https://ift.tt/2O9Y9...

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

The Department of Financial Services in a letter to chief secretary of states said that incidences of unruly behaviour of anti-social elements against the bankers needs to be responded with stern action taken against such elements, sources said. from Banking/Finance-Industry-Economic Times https://ift.tt/2VVXb...

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Yes Bank puts up for auction two aircraft of Ligare Voyages

The auction notice did not mention the amount of credit facilities granted by Yes Bank to Ligare Voyages Ltd. It is a group company of RHC Holding Pvt Ltd, which is promoted by brothers Shivinder Mohan Singh and Malvinder Mohan Singh. Ligare Voyages is into the business of providing air charter services since 2006-07, according to RHC Holding website. from Banking/Finance-Industry-Economic Times https://ift.tt/3ea7c...

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IRDA constitutes working group to explore a Pandemic Risk Pool

The nine-member working group is headed by IRDA’s executive director Suresh Mathur and has representatives from regulators, reinsurers and insurance companies. from Banking/Finance-Industry-Economic Times https://ift.tt/3iFYw...

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

The lender joins peers, including Axis Bank, Kotak Mahindra Bank, Federal Bank and Yes Bank, who have either raised fresh capital or decided to do so soon, amid the COVID-19 pandemic. from Banking & Finance – The Financial Express https://ift.tt/3gF9f...

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

SBI’s SME portfolio shrank over 7% in FY20 to Rs 2.68 lakh crore from Rs 2.89 lakh crore. About 9.5% of this portfolio turned non-performing. The country’s biggest mass lender is also working on unveiling a pre-approved merchant loan through its Yono platform. from Banking/Finance-Industry-Economic Times https://ift.tt/329oI...

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SBI to invest Rs 1,760 crore in Yes Bank

State Bank of India (SBI), country’s largest lender’s executive committee has approved a further investment of upto Rs 1,760 crore in public offering of Yes Bank, according to a regulatory filing. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2W0wt...

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ICICI Bank to raise ₹15,000 crore as capital

Private sector lender ICICI Bank plans to raise as much as ₹15,000 crore of capital.The decision was taken at a meeting of its board of directors on from Business Line - Money & Banking https://ift.tt/3fdMd...

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Moody's warns banks of increased cyber risks

These attacks can be in the form of phishing emails, malware attacks and social engineering frauds as well, Moody’s said on Tuesday. Moreover, Banks’ digital customers are a natural target for fraudsters, they said. Cyberattacks are mostly financially motivated and seek easily monetized data stored by the victim organizations. from Banking/Finance-Industry-Economic Times https://ift.tt/2BPuQ...

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Collection efficiency of Bandhan Bank improves for all advances

The bank said that nearly 70 per cent of its customers have started repaying their loans. For non-micro banking advances, the collection efficiency for June was 84 per cent, according to the bank. from Banking & Finance – The Financial Express https://ift.tt/3gCMn...

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

FPO likely by July 15 from Business Line - Money & Banking https://ift.tt/3eaNh...

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

South Indian Bank has registered a 11 per cent growth in its net profit in Q1 at ₹81.65 crore against ₹73.26 crore during the corresponding period of from Business Line - Money & Banking https://ift.tt/2Z7bR...

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

Bank of Maharashtra (BoM) has sanctioned MSME loans to the tune of ₹2,779 crore and disbursed ₹2,327 crore during the Covid-19 crisis period.The Bank from Business Line - Money & Banking https://ift.tt/2ZNXq...

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

The grant was recommended by the 15th Finance Commission. On Wednesday, the Centre released advance payments of over Rs 1,276 crore to Kerala, followed by over Rs 952 crore to Himachal Pradesh and over Rs 638 crore to Punjab. Assam received Rs 631 crore, Andhra Pradesh Rs 491 crore, Uttarakhand Rs 423 crore, and West Bengal got Rs 417 crore from Banking/Finance-Industry-Economic Times https://ift.tt/2VVQX...

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ED confiscates over Rs 329cr assets of Nirav Modi

The ED on Wednesday said it has confiscated assets worth Rs 329.66 crore of diamond merchant Nirav Modi under the fugitive economic offenders law. The businessman and his uncle Mehul Choksi among others are being probed by the ED on money laundering charges in connection with an over $2 billion alleged bank fraud at a PNB branch in Mumbai. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2CdGl...

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

Private sector lender Yes Bank has filed the offer document for its planned follow on public offer with the Registrar of Companies and could raise bet from Business Line - Money & Banking https://ift.tt/31Zok...

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Bank of Maharashtra sanctions Rs 2,779 crore since March

The loans to MSMEs were offered majorly under the government's Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) and the lender's emergency credit line for COVID-19. Since the declaration of lockdown, the bank has sanctioned additional loans to its customers, including MSMEs, agriculture and personal borrowers. from Banking/Finance-Industry-Economic Times https://ift.tt/2W0rg...

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Karur Vysya Bank in corporate agency pact with Bajaj Allianz Life

Karur Vysya Bank, an old private sector bank, has signed up a corporate agency partnership with Bajaj Allianz Life to offer life insurance solutions from Business Line - Money & Banking https://ift.tt/3e8DT...

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

Digital payments have witnessed a massive boom amid the Covid-19 pandemic according to a survey by merchant payments solution company India Transact S from Business Line - Money & Banking https://ift.tt/3gGhn...

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SBI cuts MCLR by 5-10 bps for shorter tenors

The country's largest lender State Bank of India (SBI) on Wednesday said it has reduced its marginal cost of funds based lending rate (MCLR) by 5-10 basis points (bps) for shorter tenors from July 10. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/31Xrx...

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SBI cuts MCLR by 5-10 bps

State Bank of India (SBI) has decided to reduce its marginal cost of funds-based lending rate (MCLR) by 5-10 basis points (bps) in the shorter tenors from Business Line - Money & Banking https://ift.tt/2O16b...

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SBI cuts MCLR by 5-10 bps for shorter tenors

The country’s largest lender State Bank of India (SBI) on Wednesday said it has reduced its marginal cost of funds based lending rate (MCLR) by 5-10 from Business Line - Money & Banking https://ift.tt/38AL5...

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

Scrip down 1.36 per cent in early morning trade on BSE from Business Line - Money & Banking https://ift.tt/3gDfM...

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Future Generali Insurance announces promotion, pay hike for employees

The company has decided not to compromise on hiring and plans to recruit employees as per the business requirement from Business Line - Money & Banking https://ift.tt/2BRgA...

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

According to Punjab National Bank Managing Director S S Mallikarjuna Rao, only 30 per cent of borrowers utilised moratorium facility while 70 per cent continued to service their loans. The bank had given the option of availing the option of loan moratorium to all its customers, he had said last month. from Banking/Finance-Industry-Economic Times https://ift.tt/2O4iJ...

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

The government imposed the lockdown on March 25 to contain coronavirus infection and later extended it till May-end. The country started reopening the economy under unlock 1.0 from June with restrictions remaining in containment zones. from Banking & Finance – The Financial Express https://ift.tt/2VUCI...

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Corona Kavach will be an affordable, well-defined cover

GIC to suggest treatment costs from Business Line - Money & Banking https://ift.tt/2ABjG...

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B Sankar takes charge as Chief GM of SBI Chennai Circle

State Bank of India on Tuesday announced that B Sankar has assumed charge as Chief General Manager of the bank’s Chennai Circle. Earlier, Sankar serv from Business Line - Money & Banking https://ift.tt/3f9SN...

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

Expect further rise in days to come from Business Line - Money & Banking https://ift.tt/3fcAK...

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How can you improve your economic competence all by yourself!

Many of us keep on working from home. During this time, some have learned a foreign language, others have discovered a new hobby, and still, others have even... from Banking/Finance-Industry-Economic Times https://ift.tt/3gycR...

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

The hike of up to 8 per cent is for the fiscal year 2020-21 and applicable from July onwards, the sources said. An e-mail sent to the bank did not elicit any response. The sources said these employees are from M1 and grades below, who are frontline staff mostly in customer-facing roles. They ensure the functioning of branches and other operations of the bank. from Banking/Finance-Industry-Economic Times https://ift.tt/3gAsM...

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

These employees form over 80 per cent of its overall workforce and the decision has been taken in recognition of the services rendered during the COVID-19 pandemic, the sources told PTI. from Banking & Finance – The Financial Express https://ift.tt/2O4n6...

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ECLGS: Loan sanctioned touch ₹1.14-lakh crore

Maharashtra continues to top the chart in terms of loans sanctioned from Business Line - Money & Banking https://ift.tt/2ZJS2...

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

The Securities Appellate Tribunal (SAT) has ruled in favour of the Securities and Exchange Board of India (SEBI) enhancing penalties on credit rating from Business Line - Money & Banking https://ift.tt/3fdUp...

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Fino Payments Bank launches a savings account for minor children

Fino Payments Bank has announced a savings account for minor children aged between 10 and 18 years.“Bhavishya, a subscription-based savings account, i from Business Line - Money & Banking https://ift.tt/31VA5...

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L&T Infra Finance gets $50 m from AIIB

L&T Infrastructure Finance (LTIF), the wholly owned subsidiary of L&T Finance Holdings, has received the first tranche of $50 million ECB loan from Business Line - Money & Banking https://ift.tt/2DjuM...

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

More than half of the respondents in the private equity and venture capital space see investments in India declining in the next 6-12 months, accordin from Business Line - Money & Banking https://ift.tt/3e3Nv...

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

Private equity investments in aggregate declined 64.9 per cent on a year-on-year basis in April-June 2020 at $1.45 billion, data from Refinitiv, a pro from Business Line - Money & Banking https://ift.tt/3edsl...

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

Eyes higher e-commerce and payments bank business from Business Line - Money & Banking https://ift.tt/38xB9...

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China central bank buying stakes in Indian cos

In mid-April, stock exchange disclosures revealed that the People’s Bank of China had a holding of over 1% in Indian mortgage finance major HDFC. But the Chinese central bank also holds stakes in several other listed companies. However, these are all below the radar since they are less than the 1% threshold limit for open disclosures by companies. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3iFHm...

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

United Forum of Bank Unions has urged the Kerala Chief Minister to close bank branches functioning in triple lockdown areas and containment zones so a from Business Line - Money & Banking https://ift.tt/2DkRl...

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ICICI Bank’s WhatsApp banking platform crosses 10 lakh users

Private sector lender ICICI Bank, on Tuesday, said its WhatsApp banking platform has crossed 10 lakh users. “The bank introduced banking services on W from Business Line - Money & Banking https://ift.tt/38Fsz...

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

State Bank of India (SBI) is set to invest $100-150 million (Rs 750-1,000 crore) and leverage its YONO platform to set up a business-to-business (B2B) e-commerce marketplace for micro, small and medium enterprises (MSMEs). The country’s largest lender hopes this will also help it better manage financing of small businesses. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3izZy...

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Trading at 74.7 vs dollar, rupee exhibits bullish bias

The rupee (INR) began Tuesday’s session on a flat note at 74.7 versus yesterday’s close of 74.68 against the dollar (USD). Since INR stays above the i from Business Line - Money & Banking https://ift.tt/3f8no...

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PNB board to consider raising capital on July 9

State-owned Punjab National Bank (PNB) on Monday said its board will consider a proposal to raise capital through a mix of both equity and debt on J from Business Line - Money & Banking https://ift.tt/3iFDM...

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

Private sector lender Bandhan Bank on Monday said its loans and advances grew 18% year-on-year to Rs 74,325 crore for the first quarter this fiscal, from Rs 63,164 crore for the same period last fiscal. from Banking & Finance – The Financial Express https://ift.tt/31Yeq...

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IDBI Trusteeship Services releases 12.5 lakh pledged shares of Max Financial

IDBI Trusteeship Services Ltd (ITSL) has released 12.5 lakh pledged shares of Max Financial Services Ltd (MFSL), according to a regulatory filing. “12 from Business Line - Money & Banking https://ift.tt/3fj0p...

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

Reports improvement in collection efficiency from Business Line - Money & Banking https://ift.tt/2Z157...

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Injeti Srinivas appointed as Chairman of International Financial Services Centres Authority

The Appointments Committee of the Cabinet has approved the appointment of Injeti Srinivas, a retired IAS officer, as Chairman of International Financi from Business Line - Money & Banking https://ift.tt/3iCIS...

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Canara Bank, BoM and KVB cut MCLRs

Canara Bank and Bank of Maharashtra (BoM) have announced a cut in their marginal cost of funds based lending rate (MCLR) across all tenors by 10 basis from Business Line - Money & Banking https://ift.tt/2Cauv...

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Canara Bank, Bank of Maharashtra cut MCLR

Overnight and one-month lending rates have been cut by 10 basis points to 7.20 per cent each. Three months MCLR rate has been revised to 7.45 per cent from 7.55 per cent, Canara Bank said in a release. from Banking & Finance – The Financial Express https://ift.tt/2ZGbI...

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

Aye Finance, a new-age non banking finance company, has raised over ₹125 crore in debt from Germany-based impact investor, Invest in Visions.This Capi from Business Line - Money & Banking https://ift.tt/2O0sC...

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Bus, car operators seek extension in validity of motor insurance

Amidst the Covid-19 led crisis, Bus and Car Operators Confederation of India has urged the insurance regulator IRDAI to extend the validity of vehicl from Business Line - Money & Banking https://ift.tt/38y3X...

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IndusInd Bank’s Q1 net advances up 4%

IndusInd Bank reported a six per cent increase in deposits and a four per cent increase in net advances in the first quarter of the fiscal. In a regul from Business Line - Money & Banking https://ift.tt/2Dg2J...

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KVB ties up with Star Health Insurance

Karur Vysya Bank has entered into an arrangement with Star Health and Allied Insurance Co to offer a wide range of health insurance options to its cu from Business Line - Money & Banking https://ift.tt/3iAbQ...

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

Remittances and payments businesses have become the cornerstone of SBM Bank India's growth strategy. As banking evolves to become more personal, platform-agnostic and always-on - the Bank has been leading the collaboration narrative to access the best-in-class solutions with its switching partner, YAP, the statement said. from Banking/Finance-Industry-Economic Times https://ift.tt/38tmE...

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

YAP is a API (application programme interface) infrastructure company. The company works with banks and financial institutions as product providers. from Banking & Finance – The Financial Express https://ift.tt/2AymL...

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

Equity indices finished higher on Monday with the benchmark BSE Sensex rising over 500 points led by gains in financial, auto and metal stocks. The 30-share BSE index surged 466 points or 1.29% to close at 36,487; while, the broader NSE Nifty finished 156 points or 1.47% higher at 10,764. Top gainers included M&M, Bajaj Finance, Reliance, Maruti, TCS, Tata Steel and HDFC Bank. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2VPNA...

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YES Bank launches instant loan disbursement facility

Private sector lender YES Bank has launched a solution for instant disbursement of retail loans for the bank’s pre-approved liability account holders. from Business Line - Money & Banking https://ift.tt/3e3IB...

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

Government of Mauritius-promoted SBM Bank India and global payments technology major Mastercard have joined hands to facilitate cross-border paymen from Business Line - Money & Banking https://ift.tt/2Bxm9...

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

Gold prices are hitting the roof, and so is the demand for gold loans. With individuals and small businesses facing liquidity challenges due to Covid- from Business Line - Money & Banking https://ift.tt/31S2k...

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

Bombardier Transportation has received a Letter of Award from the Uttar Pradesh Metro Rail Corporation to build and deliver 201 Metro cars and an adva from Business Line - Money & Banking https://ift.tt/3gypT...

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

Our BureauImpacted by the nationwide lockdown, wireless revenues for Bharti Airtel and Vodafone Idea Ltd (VIL) will register a fall in the first quar from Business Line - Money & Banking https://ift.tt/38zsp...

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

Many lenders had sought to clean up and consolidate their agri book in the previous fiscal from Business Line - Money & Banking https://ift.tt/31MVw...

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

The rating agency analysed top 500 debt-heavy private sector borrowers and said the additional stressed loans will take the cumulative quantum of delinquent loans to Rs 4.21 lakh crore over the FY21 and FY22. from Banking/Finance-Industry-Economic Times https://ift.tt/2DesY...

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

Our BureauThe proportion of stressed debt of the top-500 debt-heavy private sector borrowers could jump to 18.21 per cent to 20.84 per cent of the out from Business Line - Money & Banking https://ift.tt/2NV0I...

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

Large-cap stocks seem to be attractively priced, says CEO G Pradeepkumar from Business Line - Money & Banking https://ift.tt/3iyom...

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Paytm, Vijay Shekhar Sharma to acquire Raheja QBE General Insurance

Paytm, owned by One 97 Communications Ltd, along with its founder Vijay Shekhar Sharma, will acquire Mumbai-based private sector general insurance co from Business Line - Money & Banking https://ift.tt/2AD29...

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IndusInd Bank net advances up 4% in Q1

The IndusInd Bank scrip gained over 3 per cent on the BSE on Monday after the private sector lender reported a 6 per cent increase in deposits and a 4 from Business Line - Money & Banking https://ift.tt/3gthQ...

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WFH could ‘Uberise’ some bank jobs

SBI chairman Rajnish Kumar recently said in an interview that the bank was planning to move to a work-from-anywhere model rather than just work-from-home from Banking/Finance-Industry-Economic Times https://ift.tt/3f2sk...

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ICICI Bank board meet on July 8 to consider fundraising

ICICI Bank on June 22 sold 1.5% stake in ICICI Prudential Life Insurance Company on the stock exchange for Rs 840 crore. from Banking & Finance – The Financial Express https://ift.tt/38w52...

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

In a sale notice to the public in general and in particular to Avantha Holdings Ltd (the borrower) and Avantha Realty (mortgager), Yes Bank said it took constructive possession of the property mortgaged to it on February 10, 2020 for recovery of Rs 548.30 crore. from Banking/Finance-Industry-Economic Times https://ift.tt/31YO9...

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

The loan amount is due since October 31, 2019, along with further interest and cost due to the secured creditor (Yes Bank) from the borrower and mortgager, Yes Bank said. from Banking & Finance – The Financial Express https://ift.tt/3f1dx...

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ICICI Bank board to consider proposal to raise capital on Wednesday

While announcing its earnings for the fourth quarter and fiscal ended March 2020, ICICI Bank had said it will look at further strengthening the balance sheet as opportunities arise. from Banking & Finance – The Financial Express https://ift.tt/2C9dj...

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Magma HDI General Insurance expects health segment to drive growth

Magma HDI General Insurance Company Ltd is expecting the share of health insurance to its total business to almost double by the end of this fiscal. H from Business Line - Money & Banking https://ift.tt/2C99V...

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

Amidst continuing economic uncertainty, the board of directors of ICICI Bank will be meeting on July 8 to discuss fund raising proposals.“A meeting of from Business Line - Money & Banking https://ift.tt/31KVO...

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DHFL defaults on repayment of NCDs worth ₹50 crore

Distressed Dewan Housing Finance Corporation Ltd (DHFL) has defaulted on payment for a principal amount of ₹50 crore of secured non-convertible debent from Business Line - Money & Banking https://ift.tt/38s4L...

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

Edelweiss Financial Services reported a net loss of ₹2,281.55 crore in the fourth quarter of 2019-20 with a sharp rise in provisions and impairments. from Business Line - Money & Banking https://ift.tt/31MYK...

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Finmin may review capital requirement of PSU banks after second quarter

The finance ministry may assess the capital requirement of public sector banks after the September quarter as there would be greater clarity about a spike in bad loans by that time, sources said. from Banking & Finance – The Financial Express https://ift.tt/38rnS...

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

Private sector lender Federal Bank reported a 17 per cent increase in its total deposits in the first quarter of 2020-21 and just an eight per cent in from Business Line - Money & Banking https://ift.tt/3f1Hf...

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DHFL defaults on NCD repayments of ₹50 cr

Says it can’t pay due to moratorium restrictions from Business Line - Money & Banking https://ift.tt/38w2C...

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

The bank is targeting gold loan growth to touch 35 per cent during FY21 as against 29 per cent in FY20. from Banking/Finance-Industry-Economic Times https://ift.tt/38vTX...

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