Health insurance companies working towards launching COVID-specific products: Officials

Many companies are making efforts to launch COVID- specific products with provisions for home care. MD & CEO of ICICI Lombard Bhargava Dasgupta said coronavirus treatment at hospitals is now covered by indemnity policies. Dasgupta also said traditional health insurance covers only big-ticket hospitalisation, while smaller cases are left out.

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Few auto loans execs indulged in personal misconduct, no conflict of interest: HDFC MD

Addressing his last annual general meeting after building the bank into the second largest by assets in India, and the most valued by investors, Managing Director and Chief Executive Aditya Puri denied there being any "conflict of interest" found by a probe launched following whistleblower complaints.

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Few auto loans executives indulged in personal misconduct, action taken: HDFC MD

Auto loans contributed a fifth of the bank's retail loans and a tenth of its overall assets. Outstanding auto loans reduced to Rs 81,082 crore as of June 2020, from Rs 83,935 crore in March and Rs 81,913 crore in the year-ago period.

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Mahindra Finance board approves rights issue plan

The board of Mahindra and Mahindra Financial Services on Saturday approved a proposal to raise ₹3,500 crore of funds through a rights Issue of its eq

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HDFC Bank will return funds debited from Altico’s account: Aditya Puri

9% borrowers in value terms under moratorium

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Bank defaulters : AIBEA releases list of 2,426 borrower accounts

Ordinance is a must to recover dues to the banking system, says AIBEA General Secretary Venkatachalam

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HDFC Bank net profit rises 20% during first quarter to Rs 6,658 crore

HDFC Bank has reported a net profit of Rs 6,658 crore for the quarter ended June 2020 an increase of 19.6% over the quarter ended June 20, 2019. This was despite most of the country being under a lockdown during the first quarter of the current fiscal.

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HDFC Bank’s profit up 20% in Q1; advances, deposits shoot up while asset quality deteriorates

The continued slowdown in economic activity has led to a decrease in retail loan origination, sale of third party products, use of credit and debit cards by customers, efficiency in collection efforts and waivers of certain fees, the bank said.

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Muthoot Finance board puts off stock split plan

The Board of Directors of Muthoot Finance Ltd on Saturday decided to defer the proposal to sub-divide the equity shares of the company to a future dat

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Liberty General Insurance launches critical illness cover

Liberty General Insurance on Saturday launched a health insurance cover against 60 critical illnesses. Called Critical Connect, it will provide insura

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HDFC Bank Q1 net profit up 19.6 per cent

The net interest income for the first quarter this fiscal grew by 17.8 per cent to ₹ 15,665.4 crore

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CPA Australia and CPA Program: A gateway to career development

US-based couple Heer Mehta CPA Aust. and Jameson John, CPA Aust. completed the CPA Australia designation together to distinguish themselves on the global...

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Covid fallout: Bounce rates on auto-debits shoot up to 45% in June, lenders are worried

The increased incidence of bouncing itself has implications for recoverability. Till two years ago, bounce rates stood at around 18-19%.

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Mumbai Police begins Cox & Kings enquiry in the IndusInd Bank case

The Mumbai Police have commenced a preliminary enquiry against Cox & Kings for allegedly defrauding IndusInd Bank of around Rs 240 crore.

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‘Pandemic to give a push to health cover’

Coronavirus has brought about a big shift in health insurance and the industry is bound to witness some positive shifts besides facing some new challe

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Edelweiss Tokio Life combines life cover with customised pay-outs for financial needs

New Delhi, Jul 10Edelweiss Tokio Life Insurance ( ETLI), a private life insurer, aspires to emerge as a comprehensive income solutions provider for co

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Lockdown impact: Support needed to borrowers until cash flows improve, says bankers

"Repayment of loans is done from cash flows. This problem might creep into the second quarter as well. So there is need for forbearance and support," Basu said. Despite the RBI announcing regulatory forbearance measures like moratorium on repayment of loans, the borrowers are acting cautiously due to the cost involved.

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Yes Bank fraud: Case against Rana Kapoor sent to lower court for trial

Last month the Central Bureau of Investigation filed a charge sheet against Yes Bank's co-founder Kapoor under the Prevention of Corruption Act and Indian Penal Code. 

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YES Bank FPO sails through with 95% subscription

QIB portion oversubscribed with investments from SBI, LIC

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Bank of Maharashtra launches OD facility against fixed deposits

Bank of Maharashtra (BoM) has launched an overdraft facility (OD) against fixed deposits (FDs) for its individual customers holding a savings bank acc

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State banks sanction Rs 19,668 crore loans to 71 MSME hubs under credit guarantee scheme

Disbursement in these clusters stood at Rs 12,871.50 crore as of July 15 to entities belonging to micro, small and medium enterprise (MSME) sector, hit hard by the COVID-19 crisis. The scheme is the biggest fiscal component of the Rs 20-lakh crore Aatmanirbhar Bharat Abhiyan package announced by Finance Minister Nirmala Sitharaman last month.

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Bank of Baroda raises Rs 764 crore by issuing Basel III compliant bond

Stock of Bank of Baroda closed at Rs 49.40 apiece on the BSE, up 2.70 per cent from previous close.

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NPS adds 1.03 lakh individual subscribers from private sector in Q1

The National Pension System (NPS) has added 1.03 lakh individual subscribers from the private sector during the April-June 2020 period. As many as 206

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Insurers likely to witness spike in claims from commercial businesses in FY21

Insurance companies are likely to witness a spike in claims from the commercial business this fiscal, primarily from fire and related accidents in pla

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ICICI Lombard General Insurance Q1 net profit up 28%

Private sector ICICI Lombard General Insurance posted a robust 28.5 per cent growth in net profit in the first quarter of the fiscal despite sales of

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UCO Bank ‘redesigns’ strategies to align with ‘Aatmanirbhar Bharat’; to focus on agri, MSME lending

Notably, UCO Bank has been under RBI's Prompt Corrective Action (PCA) since May 2017 on account of high net NPA and negative RoA.

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UCO Bank to focus on agri, MSME lending

Public sector lender UCO Bank has redesigned its strategies to align with the government’s ‘Aatmanirbhar Bharat’ initiative, with enhanced focus on l

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UCO Bank 'redesigns' strategies to align with government's 'Aatmanirbhar Bharat'

Underlining the fact that the COVID-19 outbreak and the effect of lockdown from late March to June caused severe adverse impact on all sectors of the Indian economy, including banking, UCO Bank said "it has redesigned its strategies" to implement Aatmanirbhar Bharat package announced by the central government, to fall in line with the current situation.

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RBI sees robust investor interest in G-Sec auction to raise ₹30,000 crore

Our BureauThe auction of four Government Securities (G-Secs) on Friday to raise ₹30,000 crore saw robust investor interest, with the 5.09 per cent G-S

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Rural India, large corporates can help turbo charge economy: SBI Managing Director

State Bank of India (SBI), the country’s largest commercial bank, sees rural India and large corporates as growth drivers that could be leveraged to t

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Karnataka Bank will reduce exposure to corporate advances: MD

Karnataka Bank will reduce its exposure to the corporate advance portfolio, according to Mahabaleshwara MS, Managing Director and Chief Executive Offi

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SBI closely watching MSME loan accounts, says MD Khara

State Bank of India (SBI) is closely monitoring micro, small and medium enterprise (MSME) loan accounts which opted for repayment moratorium, accordin

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Aditya Birla Capital records two-fold rise in online interface amid pandemic

“Digital enablement to create a superior customer experience throughout the customer journey has been a key part of our agenda,” said Ajay Srinivasan, Chief Executive, Aditya Birla Capital.

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Federal Bank gets Reserve Bank of India's nod to reappoint Shyam Srinivasan as MD, CEO

Shyam Srinivasan had joined the bank, equipped with the experience of over 20 years with leading multinational banks in India, Middle East and South East Asia. He has significant expertise in retail lending, wealth management and small and medium enterprises (SME) banking.

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Banks holdings of corporate notes at record high after policy measures amid coronavirus

Indian banks boosted their holdings of rupee notes from companies to an all-time high recently, in a sign that policy measures aimed at boosting funding to companies during the pandemic are working.

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Mallya offers settlement package of Rs 13,960cr

After exhausting judicial remedies against his extradition, fugitive Vijay Mallya told the Supreme Court on Thursday through his counsel that he has offered a package to a consortium of banks, and if it was accepted all cases against him by the ED would be sorted out.​

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Non-banking finance companies seek special fund for small and medium-size peers

Non-bank lenders are also seeking that banks be advised to show leniency towards the financial covenants related to profit and loss accounts along with a carve-out for small and medium NBFCs in the sectoral caps prescribed for the segment.

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RBI issues fair practices code for asset reconstruction companies

ARCs shall release all securities on repayment of dues or on realisation of the outstanding amount of loan, subject to any legitimate right or lien for any other claim they may have against the borrower.

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L&T Finance Holdings Q1 net profit dips 73 per cent to Rs 148 crore on higher provisioning

The non-banking finance company (NBFC) had posted a net profit of Rs 549 crore in the corresponding April-June quarter of previous fiscal year.

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Banks sanction about Rs 1.23 lakh crore loans to MSMEs under credit guarantee scheme

The scheme is the biggest fiscal component of the Rs 20-lakh crore Aatmanirbhar Bharat Abhiyan package announced by Finance Minister Nirmala Sitharaman in May.

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Govt announces conversion of five G-Secs via July 20 auction

The government, on Thursday, announced the conversion/ switch of five government securities (G-Secs), maturing in 2021 and 2022, for an aggregate amou

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Liquidity woes: Small and medium NBFCs seek funding support from Centre

Small and medium NBFCs, which account for 90 per cent of such entities registered with the RBI, have knocked the Centre’s door seeking funding support

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Central Bank of India to raise up to ₹5,000 cr equity capital

State-owned Central Bank of India will raise up to ₹5,000 crore of equity capital through various modes, including follow on public offer and rights

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L&T Finance Holdings Q1 net profit down at ₹148 crore on higher provisions

L&T Finance Holdings reported a 73 per cent drop in consolidated net profit for the first quarter of the fiscal on the back of higher provisions.F

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SBI Card MD & CEO Hardayal Prasad resigns pursuant to voluntary retirement from SBI

"We wish to inform that the Board of Directors of the company at its meeting held on Wednesday, July 15, 2020 approved resignation of Hardayal Prasad, Managing Director & CEO (nominated by State Bank of India) of the company who has tendered his resignation from directorship of the company," SBI Card said in a regulatory filing.

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SBI Card MD & CEO Hardayal Prasad resigns

SBI Cards and Payment Services (SBI Card) on Thursday said its MD & CEO Hardayal Prasad has resigned pursuant to voluntary retirement from SBI -

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‘Covid-19 a key trigger for digitally savvy urban Indians to buy term insurance’

Term insurance most preferred life insurance category during Covid-19 pandemic, reveals Max Life survey

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View: Bad bank not an optimum solution to mounting bad loan menace in India

The objective of the bad bank is undoubtedly laudable. It however needs to be subjected to the test of realism and pragmatism. The then RBI governor Mr Raghuram Rajan felt that bad bank creates a moral hazard enabling banks to continue with their reckless lending practices.

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ARCs asked to frame fair practices code for transparency in sale of secured assets

The Reserve Bank of India (RBI) has asked asset reconstruction companies (ARCs) to put in place a Fair Practices Code (FPC) to ensure transparency in

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IndiaFirst Life Insurance upbeat on revival in sales

Working on digital engagement with customers

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ETMONEY corners 28% market share of mutual fund industry's net equity flows in June 2020

ETMONEY drives strong growth amidst a 95% industry-wide slump in equity investments, clocks big amidst the a nationwide decline in SIP inflow.

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INTERVIEW| We expect 15-20% Y-o-Y growth in advances: Chandra Shekhar Ghosh, MD & CEO, Bandhan Bank

Bandhan Bank expects collection efficiency in both microfinance and non-microfinance segments to become almost normal by second quarter this fiscal year, says its managing director and CEO Chandra Shekhar Ghosh.

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Banks to increase cash handling charges from August 1

Bank of Maharashtra, Axis Bank, Kotak Mahindra Bank and RBL Bank have imposed charges for cash withdrawal or increased minimum balance requirements effective August 1.

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SBI sends BPSL promoters notice to call them wilful defaulters

Sanjay Singal and his wife Aarti Singal have challenged the notice in the Delhi High Court on the grounds that not enough information was provided by the bank with the notice.

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RBI data shows share of industrial credit in total bank credit dips to 31.5% in March

All bank groups recorded moderation in credit growth during 2019-20, though private sector banks continued to lead the growth.

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Indian banks’ bid to boost capital for rocky times ‘credit positive’, says S&P Global Ratings

Our BureauS&P Global Ratings, on Wednesday, said Indian banks’ bid to boost capital for rocky times is credit positive. Indian banks that have exp

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SBI gets nod to raise ₹25,000 crore

State Bank of India’s central board, on Wednesday, accorded its approval for raising about ₹25,000 crore by way of Additional Tier (AT) I capital and

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Bandhan Bank Q1 profit falls 32% at ₹550 crore

Our BureauRiding on the back of higher provisioning on standard assets, Bandhan Bank posted a 32 per cent drop in net profit at ₹550 crore for the qua

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Share of individuals in total bank credit rises to 40.1%

Our BureauBanks seem to have gone flat out in wooing individual borrowers in the last five years, going by the latest date from the Reserve Bank of I

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Bank loans: AIBEA to release wilful defaulters list this weekend

Our Bureau On the eve of the 51st anniversary of bank nationalisation on July 19, the All-India Bank Employees’ Association (AIBEA) will release a lis

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Low borrowing costs can’t save India’s shadow banks in crisis

The health of shadow banks needs to improve because they form the backbone of the Indian economy and lend to everyone from small merchants to business tycoons.

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RBI extends validity of directions to City Co-operative Bank

Our BureauThe Reserve Bank of India (RBI) has extended the validity of its directions to City Co-operative Bank, Mumbai, for a further period of thre

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How payment from Vodafone has been distributed to Franklin investors

Franklin Templeton recently received ₹1,252 crore principal and interest payment from Vodafone Idea with respect to one of the bonds issued by the com

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Federal Bank Q1 net profit up 4.3%

Our BureauPrivate sector lender Federal Bank reported a 4.3 per cent increase in net profit in the first quarter of the fiscal with robust growth in

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IDBI Bank strives to come out of RBI PCA framework this fiscal, says MD Rakesh Sharma

"Your Bank is cautiously optimistic of an early exit from the PCA framework in FY2020-21 as it builds on the gains made in FY2019-20 so that your Bank can optimise stakeholder value by undertaking the entire gamut of banking activities," Rakesh Sharma said in the letter, as per the bank's annual report.

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Bandhan Bank net profit down 32% at ₹550 cr in June quarter

Riding on the back of higher provisioning on standard assets, Bandhan Bank posted a 32 per cent drop in net profit at ₹550 crore for the quarter ende

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Election Commissioner Ashok Lavasa to become Vice-President of ADB Bank

Election Commissioner of India Ashok Lavasa is set to assume the role of the Vice-President of the Asian Development Bank, which is based out of the P

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Vanguard to partner with Infosys to grow defined contribution business

Vanguard, one of the largest investment companies in the world, on Tuesday said it will partner with Infosys as part of its ongoing strategy to enha

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PSBs buy Rs 14,667 cr of bonds, CPs of 67 NBFCs under credit scheme

As part of the nearly Rs 21 lakh crore special economic package amid the COVID-19 crisis, Sitharaman announced Partial Credit Guarantee Scheme (PCGS) 2.0 worth Rs 45,000 crore for non-banking financial companies (NBFCs) and micro finance institutions (MFIs).

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We have recorded a 260% rise in cyberattacks since the lockdown began: K7 Computing

J Kesavardhanan explains how cyber criminals have been taking advantage of the Covid-19 crisis

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South India leads in Digital KYC adoption; metros ahead of non-metros

Contactless credit applications via Digital KYC has seen a strong uptick in May and June, with South India leading the adoption with close to 41 per c

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NBFC crisis a wake-up call for RBI: Banks must now be ring-fenced from non-bank affiliates

The corporate structure of banks must change to ringfence banks from their non-bank affiliates.

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Mobikwik hopes to turn profitable in FY21, expects recovery in payments by end August

Net revenue grew 133% in 2019-20

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Partial Credit Guarantee Scheme 2.0: Banks approve bond purchase from 67 NBFCs

The Finance Ministry said on Wednesday that public sector banks (PSBs) have approved purchase of bonds/commercial papers worth ₹14,667 crore from 67 N

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IDBI Bank plans to raise ₹11,000 crore capital

IDBI Bank is planning to raise ₹11,000 crore equity capital to enable it to strengthen its capital adequacy.The Bank will seek shareholders’ approval

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RBI sets up high-level panel to study use of QR codes for contactless transaction in Pandemic

The committee – comprising academicians, scientists and industry executives -- has been asked to figure out the economics of QR deployment at merchant locations, the benefits of having an interoperable and open-loop system as well as recommend guidelines for standardising deployments, they said.

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NBFCs face heat of faltering economy; lower borrowing costs can’t save them either

India’s shadow banks are benefiting from a drop in borrowing costs after government stimulus steps, but the troubled sector faces more challenges ahead as the economy reels from the pandemic.

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2% interest subvention on Shishu loans operationalised via SIDBI

The Department of Financial Services (DFS) on Tuesday said that SIDBI will provide funds to Member Lending Institutions (MLIs) upfront under the gove

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YES Bank raises ₹4,100 cr from anchor investors

Our BureauPrivate sector lender YES Bank’s has been able to raise nearly ₹4,100 crore from anchor investors, with more than half of the allocated shar

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SBI to institute work-from-anywhere infrastructure, hopes to save Rs 1,000 crore

Speaking to shareholders at the bank's 65th annual general meeting on Tuesday, he said the focus going forward will be on cost reduction, rationalisation and reskilling of workforce, improving staff productivity and redeployment of workforce from admin offices to sales roles.

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SBI to institute work-from-anywhere infrastructure, hopes to save Rs 1,000 crore: Chairman Rajnish Kumar

As the COVID-19 pandemic is still playing out, FY21 will be a challenging year for the bank like any other bank or financial institution, SBI Chairman Rajnish Kumar said.

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SBI to institute work-from-anywhere infrastructure

Amid Covid-19 induced disruption, the country's largest lender State Bank of India (SBI) will institute work-from-anywhere infrastructure and expects to save Rs 1,000 crore from this measure, chairman Rajnish Kumar said.

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YES Bank raises ₹4,500 crore from anchor investors

Our BureauPrivate sector lender YES Bank has been able to raise the expected ₹4,500 crore from anchor investors, with nearly half the sum coming from

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Yes Bank garners ₹4,500 cr from anchor investors ahead of FPO

Private sector lender Yes Bank on Tuesday raised ₹4,500 crore from anchor investors ahead of its follow-on public offer that opens on Wednesday, inve

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Health insurance start-up Plum raises ₹7 crore in seed funding

Launches high quality, affordable employee health insurance

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‘FY21 will be a challenging year for SBI’

Our BureauState Bank of India Chairman Rajnish Kumar said on Tuesday that FY21 will be a challenging year for the bank like any other bank or financi

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Banks continue to park money under reverse repo despite meagre returns

Radhika MerwinIn a bid to disincentive banks from parking their excess funds with the RBI under the reverse repo window, the central bank slashed reve

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PNB and UBI seek to set off accumulated losses

Fresh from the amalgamation of two public sector banks each with them, Union Bank of India (UBI) and Punjab National Bank (PNB) are seeking to set off

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HDFC Bank says recent high level exits in normal course

Our BureauPrivate sector lender HDFC Bank, on Tuesday, said that the recent high-level exits are in normal course. “Ashok Khanna, who was on an extens

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Debt funds see 95 per cent plunge in June inflow on redemptions in liquid schemes

Mutual funds focused on fixed-income securities witnessed a 95 per cent month-on-month slump in inflow to ₹2,862 crore in June, mainly due to redemp

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PMC Bank scam case: Rakesh Wadhawan's bail plea rejected

Housing Development and Infrastructure Ltd (HDIL) promoters Rakesh Wadhawan, his son Sarang and others are accused in the Rs 4,355-crore PMC Bank scam which surfaced in September last year.

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SBI plans to save Rs 1000 crore with ‘work from anywhere’ plan; set to redeploy admin to sales staff

SBI is set to focus on cost reduction, rationalisation and reskilling of the workforce, improving staff productivity, and redeployment of the workforce from admin offices to sales roles.

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SBI to institute work-from-anywhere infrastructure, hopes to save Rs 1,000 crore

Speaking to shareholders at the bank's 65th annual general meeting on Tuesday, he said the focus going forward will be on cost reduction, rationalization and reskilling of workforce, improving staff productivity and redeployment of workforce from admin offices to sales roles.

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HDFC Bank calms fears, says no loss to the bank from vehicle loan unit probe

"It is... important to clarify here that this matter is not related in any manner whatsoever to the lending aspect of the business. Therefore there's no question of this having any bearing on 'loan book' or causing any loss to the bank," a bank spokesperson said.

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How surplus liquidity, RBI’s actions have led to short-term rates falling below the repo rate

While 10-year G-sec yield has also softened, there is still a wide spread over shorter-tenure bonds

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Probe on vehicle finance lending practices will not cause any loss: HDFC Bank

"It is important to clarify here that this matter is not related in any manner whatsoever to the lending aspect of the business. Therefore there's no question of this having any bearing on 'loan book' or causing any loss to the bank," a bank spokesperson said.

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SBI to focus on cost reduction, rationalisation to mitigate Covid-19 impact: Rajnish Kumar

State Bank of India, India's largest lender by assets and branch network, plans to save Rs 1,000 crore through such cost optimization, chairman Rajnish Kumar told shareholders at the bank's 65th Annual General Meeting (AGM) which was held through video conferencing due to the pandemic.

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HDFC Bank says recent exits of honchos in normal course

Private sector lender HDFC Bank on Tuesday said that recent high-level exits are in the normal course and has nothing to do with the lending business.

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Analysts see bad loans rising by year end: ‘Banks’ fundraise rush signals likely surge in defaults’

RBI governor Shaktikanta Das said over the weekend that the regulator had nudged banks to safeguard themselves in order to absorb asset-quality shocks that could emerge due to the pandemic.

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Rs 15,000-crore FPO: Yes Bank sees enough fire power for 2 years

The bank’s total advances stood at Rs 1.71 lakh crore and deposits were to the tune of Rs 1.05 lakh crore as on March 31.

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City Union Bank gets board’s approval to raise Rs 1,100 crore

The lender will seek shareholders' approval for the fund raise plan at its upcoming AGM next month.

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HDFC plans to seek shareholders nod to raise Rs 45,000 crore

The board of directors of HDFC Ltd will meet on July 30 to announce the quarterly results for the first quarter ended June of the current fiscal.

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Rakesh Wadhwan, director of HDIL, loses appeal against initiating insolvency proceedings

In August last year, Bank of India (BOI) approached the Mumbai bench of the NCLT claiming that HDIL had failed to repay its dues amounting to Rs 522 crore, upon which the tribunal admitted the case under section 7 of the Insolvency and Bankruptcy Code (IBC).

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30 insurers get nod to sell ‘Corona Kavach’ policy

The Insurance Regulatory and Development Authority of India (IRDAI) has given approval for ‘Corona Kavach’, a standard Covid-19-specific insurance pol

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RBI turns net purchaser of US dollar in May

After being net seller of the US currency in the first month of this fiscal, the Reserve Bank of India (RBI) turned net purchaser in May as it bought

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Nabard to provide bank refinance of Rs 5,000 cr for watershed development projects

The development finance institution also earmarked another Rs 5,000 crore for turning Primary Agricultural Credit Societies (PACS), building blocks of the country's cooperative banking structure, into multi service centres.

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Nabard announces ₹5,000-crore concessional refinance facility

Our BureauThe National Bank for Agriculture and Rural Development (Nabard), on Monday, announced a concessional refinance facility to the tune of ₹5,0

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India’s non-banking financial institutions may not recover before a year; these sectors are on highest risks

A near-term recovery for India's NBFI is not probable, as the sector continues to wrestle with the fallout from the coronavirus pandemic.

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NHB provides ₹25,000 crore to housing fin cos as refinance assistance in last 4 months

The National Housing Bank (NHB) has in the last four months (March to June 30, 2020) provided a total refinance assistance of over ₹25,000 crore to t

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HSBC to set up IFSC Banking Unit at GIFT City

Global banking major Hongkong and Shanghai Banking Corporation Limited (HSBC) has received an in-principle approval from the GIFT SEZ Authority to set

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Muthoot Finance launches cashback scheme

Muthoot Finance has launched a special cashback scheme – Muthoot Online Money Saver programme(MOMS) – for its customers who pay interest online.This p

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PNB to focus on self-service, automation to deal with COVID-19 challenges: SS Mallikarjuna Rao

"The bank will accelerate self-service and automation initiatives through greater focus on technology to foster optimisation of processes, employee and workplace," he said. Rao said 2019-20 started with an overarching goal towards 'Year of Profitability and Creating Value', leaving the adversities of the previous financial year behind.

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YES Bank in breach of stipulated exposure limits to five groups of connected counterparties

YES Bank remains in breach of its stipulated exposure limits to five groups of connected counterparties as on the date of filing of its red herring pr

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FPO will take care of growth requirements for next two years: YES Bank MD and CEO

With ₹15,000-crore capital-raise, CET 1 ratio to rise to 13%

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Coronavirus or Demonetisation? Which one helped India’s digital payment more?

The value of transactions on the Unified Payments Interface, a platform created by India’s largest banks in 2016, reached an all-time high last month as people feared to handle banknotes amid the pandemic.

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Visa partners with Federal Bank for rolling out Visa Secure for e-commerce

Visa, a global leader in payments technology, has entered into a partnership with Federal Bank to roll out Visa Secure to the bank’s cardholders. Visa

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HSBC India rolls out digital payment products for retail customers

HSBC India on Monday announced the launch of a comprehensive range of digital payment products for its retail customers.“HSBC is now part of e-NACH (E

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Lakshmi Vilas Bank looks to raise Rs 1,000 cr; in talks with investors for capital infusion

The nearly 100-year-old LVB is looking at ways to bolster its capital adequacy ratio and the merger deal with Aion Capital-backed non-banking financial company Clix Capital would bring in Rs 1,900 crore for the bank.

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HDFC Bank probes improper lending, conflict of interest in car loan unit. What did it find?

India’s most valuable lender by market capitalization decided against proceeding with an earlier proposal to extend the employment of Ashok Khanna, an 18-year veteran at the bank, after the investigation was completed, said the people, who asked not to be identified as the information remains confidential.

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HDFC Bank probes lending practices at vehicle unit

HDFC Bank Ltd has conducted a probe into allegations of improper lending practices and conflicts of interests in its vehicle-financing operation involving the unit’s former head, according to people familiar with the matter.

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Virus boosts digital payments in India where cash ban failed

The Reserve Bank of India last year said it aimed to increase digital transactions to about 15% of gross domestic product by 2021, from nearly 10% at the time. The government is aiming for a billion digital transactions per day as the world’s fastest-growing smartphone market empowers consumers to transact at the click of a button.

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HDFC Bank probes lending practices at vehicle unit

India’s most valuable lender by market capitalization decided against proceeding with an earlier proposal to extend the employment of Ashok Khanna, an 18-year veteran at the bank, after the investigation was completed, said sources. The vehicle financing unit he headed had outstanding loans of more than Rs 1.2 lakh crore ($16 billion) as of March 31.

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Banks need to step up lending to businesses: KV Kamath

As India’s border dispute with China spills over to economic and business activities, Indian businesses should indigenise as they have acquired enormous capacity in the past decade, he said.

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Amidst Covid lockdown, cryptocurrency trading sees a boom

But lack of clarity on regulations, possible ban hindering investments

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Three months’ extension for re-import of cut, polished diamonds

Our BureauThe Finance Ministry, on Sunday, relaxed the requirement of re-import of cut and polished diamonds by three months. The Covid pandemic neces

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Online delivery of education will continue beyond Sept 30: IBBI

With no signs of the Covid-19 menace abating, insolvency regulator IBBI has now allowed online delivery of education to continue beyond September 30.

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Our target is not only about market share, but also to increase insurance penetration’

SurabhiWith robust double-digit growth in June in individual insurance, state-run behemoth Life Insurance Corporation (LIC) of India is optimistic of

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Covid impact: Loan appraisal norms will undergo a change, say bankers

For companies applying for new loans as well seeking a hike existing loan limits, banks will need to take new a new approach

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Life insurance sector witnesses 18.6 per cent drop in first-year premium: CARE Ratings

"The life insurance sector continues to report a drop in their first-year premium collection as businesses have been severely impacted by the COVID-19 pandemic.

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Eight shortlisted for RBI deputy governor post; interview on July 23

A search panel headed by the cabinet secretary is scheduled to interview eight shortlisted candidates on July 23 for the post of RBI deputy governor,

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IL&FS may add another road asset to proposed InvIT list

Facing delays in finalising bidder due to COVID-19, cash-strapped IL&FS Group is looking at including one more road project - Pune Sholapur Road Development to its proposed infrastructure investment trust (InvIT).

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Covid lockdown, compression in economic growth may result in higher NPA: RBI Governor Shaktikanta Das

The RBI governor said Indian companies respond better in crisis, citing example of pharma companies during lockdown.

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Utkarsh Small Finance Bank raises Tier II capital worth Rs 195 crore

USFBL, a scheduled commercial bank started its banking operations in January 2017 post receiving the small finance bank licence from Reserve Bank of India.

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