Reflecting the wide spread of Covid, insurers report a surge in claims from rural regions, too

The average claim size is at ₹1.40 lakh, with some going as high as ₹30 lakh from Business Line - Money & Banking https://ift.tt/3uero...

Read more »

BBB recommends Harsha Bangari for MD post at Exim Bank

The Banks Board Bureau (BBB) has recommended Harsha Bangari to the position of Managing Director in Export-Import Bank of India. Currently, Bangari i from Business Line - Money & Banking https://ift.tt/3nBXM...

Read more »

Yes Bank turns focus to lending after winning back depositors

Piling bad loans, poor capital ratios and flight of depositors led to the bank’s downfall earlier. from Business Line - Money & Banking https://ift.tt/3u4x0...

Read more »

Yes Bank turns focus to lending after winning back depositors

Regaining depositors and raising capital were the first order of business for Kumar, who took over the reins of Yes Bank in March 2020 after regulators seized the lender to prevent its imminent collapse. A year later its deposits have grown nearly 55% as opposed to losing 40% of the total prior to the bailout. from Banking/Finance-Industry-Economic Times https://ift.tt/3xDvw...

Read more »

Digital payments see muted growth in April

Transactions on UPI in April scaled down from the ₹5 lakh crore peak it had touched in March from Business Line - Money & Banking https://ift.tt/2Rddi...

Read more »

SBI cuts minimum interest rate on home loans up to ₹30 lakh to 6.70 per cent

New rate is effective from May 1 from Business Line - Money & Banking https://ift.tt/33bDe...

Read more »

IndusInd Bank net profit surges 190 per cent in Q4

However, for the full fiscal 2020-21, its standalone net profit fell 35% from Business Line - Money & Banking https://ift.tt/2QAFA...

Read more »

O2 supply companies to get loans from Sidbi at 4.5-6%

Under the SHWAS (Sidbi assistance to Healthcare sector in War Against the Second wave of Covid) scheme, MSMEs engaged in manufacturing of oxygen cylinders, oxy-generators, oxygen concentrators, liquid oxygen or providing services in transportation, storage, refilling or supply of these items will be eligible for low-cost credit. from Banking/Finance-Industry-Economic Times https://ift.tt/3aVK4...

Read more »

Muthoottu Mini Financiers eyes 75% AUM growth in FY22

MMFL had closed nearly 100 branches in 2019 and was in a consolidation phase after lagging way behind Muthoot Finance and Muthoot Fincorp in book value and AUM. from Banking & Finance – The Financial Express https://ift.tt/3t3i9...

Read more »

Yes Bank posts Rs 3,788-crore net loss in Q4

The bank saw fresh slippages worth Rs 11,800 crore during Q4, with Rs 8,000 crore coming from the moratorium book. from Banking & Finance – The Financial Express https://ift.tt/3aUdP...

Read more »

IndusInd net soars 190% on healthy interest income, lower provisioning

The lender's operating profit increased 8% y-o-y to Rs 3,062 crore as the net interest income (NII) grew 9.4% y-o-y to Rs 3,535 crore. from Banking & Finance – The Financial Express https://ift.tt/3xEUA...

Read more »

Kotak Mahindra Group announces new chiefs for insurance business

These appointments will be effective May 1 from Business Line - Money & Banking https://ift.tt/2QNGq...

Read more »

Loan growth touches new low in the pandemic year

The pandemic led contraction in economic activity led to a sharp slowdown in credit demand Non-food bank credit growth rose by 4.9 per cent in March 2021, lowest in more than five decades as compared to 6.7 per cent in March 2020. Loans to large industries contracted by 0.8 per cent, while loans to micro and small enterprises rose by a mere 0.5 per cent. from Banking/Finance-Industry-Economic Times https://ift.tt/3eO8y...

Read more »

Government invites applications for post of Irdai chairman

Applications are invited from eligible candidates for appointment to the office of chairperson in Irdai, a notification issued by the Department of Financial Services said. from Banking/Finance-Industry-Economic Times https://ift.tt/3u8t7...

Read more »

HDFC Bank unveils organisational changes to power future growth

Creates 3 new areas; business verticals, delivery channels, technology/ digital from Business Line - Money & Banking https://ift.tt/3vxTk...

Read more »

IndusInd Bank cautious despite a three times jump in profits

CEO Sumant Kathpalia said the bank continues to remain cautious despite an im​provement in business sentiment, higher collection ratios and fee income which is back to pre Covid levels. "It is very difficult to give any forecast because of the uncertainties due to Covid. We have navigated well in a turbulent year. Our collections are healthy. The focus now is on how Covid plays out," Kathpalia said. from Banking/Finance-Industry-Economic Times https://ift.tt/2RhJJ...

Read more »

HDFC Bank reorganises business verticals, digital to form backbone

The lender said it will re-double its efforts on its business verticals that include Corporate Banking, Retail Banking, Private Banking, Government and Institutional Banking, Retail assets and Payments. In addition, the lender is increasing its focus on Commercial Banking (MSME vertical). from Banking/Finance-Industry-Economic Times https://ift.tt/3vD1a...

Read more »

Yes Bank pins hopes of economic recovery even as slippages rise

CEO Prashant Kumar said he expects the economy to recover faster this fiscal amidst the second wave of Covid led by faster vaccinations which will help Yes Bank also step up on lending. This even as fresh slippages of Rs 12,000 crore which were under wraps due to the Supreme Court (SC) ordered moratorium on NPAs forced the bank to provide more and slip to a loss after a reporting a profit in the quarter ended December 2020. from Banking/Finance-Industry-Economic Times https://ift.tt/3aRJz...

Read more »

YES Bank posts net loss of ₹3,788 crore in Q4

Earnings get impacted due to drop in net interest income and rise in provisions from Business Line - Money & Banking https://ift.tt/3eHBe...

Read more »

Kotak Mahindra Life appoints Mahesh Balasubramanian as MD

The company is in receipt of approval from the Insurance Regulatory Development Authority of India for the appointment of Balasubramanian, KLI said in a regulatory filing. from Banking/Finance-Industry-Economic Times https://ift.tt/3gRi8...

Read more »

Banks roll out special schemes to protect, treat employees amidst Covid surge

Staff yet to get vaccinated on priority from Business Line - Money & Banking https://ift.tt/3t805...

Read more »

Credit costs to remain elevated for NBFCs: CARE Ratings

The second wave of Covid-19 has pulled back the recovery gains with subsequent impact on asset quality, Says the credit rating agency from Business Line - Money & Banking https://ift.tt/3xB8j...

Read more »

SBI General Insurance FY21 net profit rises 32%

The company paid an interim dividend of 10% during 2020-21 from Business Line - Money & Banking https://ift.tt/3u6M7...

Read more »

Covid-19 surge: IRDAI directs insurers to decide on claims within 60 mins

from Banking/Finance-Industry-Economic Times https://ift.tt/3eMCv...

Read more »

HSBC to StanChart predict demise of business travel for bankers

Travel costs were down $300 million in 2020, suggesting an annual saving of $150 million going forward: HSBC from Business Line - Money & Banking https://ift.tt/3nwrH...

Read more »

Covid-19 challenge: FSDC Sub-Committee members resolve to remain vigilant

The virtual meeting was chaired by RBI Governor Shaktikanta Das from Business Line - Money & Banking https://ift.tt/2Rg7s...

Read more »

Equitas SFB Q4 PAT soars 162%

Net interest margin (NIM) stood at 7.57% while the core income (net income other than PSL fees, treasury and others) was at 84%. from Banking & Finance – The Financial Express https://ift.tt/2QzI4...

Read more »

Ageas Federal Life Insurance net profit down 20%

Total premium grew by 6% on a yoy basis to ₹1,959 crore in 2020-21 from Business Line - Money & Banking https://ift.tt/3ezqU...

Read more »

BoM profit jumps 187% to Rs 165 cr; makes Covid provisions of Rs 583 cr

There was also a one-time other income of Rs 508 crore on account of recovery from the Bhushan Power account. This amount was written off earlier but a one time recovery was made during the March quarter. The bank saw a 215% increase in non-interest income to Rs 1,235 crore. from Banking & Finance – The Financial Express https://ift.tt/32Zs6...

Read more »

Equitas Bank posts Q4 profit of ₹113 crore

Equitas Small Finance Bank on Thursday posted a 163 per jump in March quarter net profit at ₹113 crore, helped by a jump in ‘other income’. The bank p from Business Line - Money & Banking https://ift.tt/3aLbg...

Read more »

L&T Finance Holdings Q4 net profit down 31%

For the full fiscal 2020-21, its consolidated net profit fell 42.9 per cent to ₹970.94 crore from Business Line - Money & Banking https://ift.tt/3eI2i...

Read more »

Bank of Maharashtra’s Q4 net soars

The bank reported a net profit of ₹58 crore in the year ago quarter from Business Line - Money & Banking https://ift.tt/3eI2g...

Read more »

Resolution to appoint Samit Ghosh as MD and CEO, Ujjivan Financial Services not approved

Only 70.527 per cent of the votes were polled in favour of the resolution from Business Line - Money & Banking https://ift.tt/3e2Rs...

Read more »

IRDA sets time limit to approve cashless claims in COVID-19 cases

The move should check delay in discharging patients, which in turn would make hospital beds available to new patients at a time when a second wave of coronavirus has crippled healthcare system across the country. from Banking/Finance-Industry-Economic Times https://ift.tt/3gPsn...

Read more »

Shriram Transport Q4 jumps 238% to ₹755 crore

Board recommends 60% dividend for FY21 from Business Line - Money & Banking https://ift.tt/3xwXL...

Read more »

AU Small Finance Bank Q4 net profit up 38 per cent at Rs 169 cr

AU Small Finance Bank reported a 38.1 per cent jump in its net profit for the quarter ended March 31, 2021 at Rs 168.97 crore versus Rs 122.32 crore a from Business Line - Money & Banking https://ift.tt/3e2Xm...

Read more »

Resolution to appoint Samit Ghosh as MD and CEO, Ujjivan Financial Services not approved

A special resolution to appoint Samit Ghosh as Managing Director and CEO of Ujjivan Financial Services was not approved by the required majority of sh from Business Line - Money & Banking https://ift.tt/3nErO...

Read more »

Banks need to adopt digitisation or else they will perish: Ex-finance Secretary SC Garg

He said once the limit of digital wallets increases and if the currency gets digitalised with a much more direct relationship between the currency issuer the Reserve Bank of India (RBI) and the people, the banks will formally get squeezed out of the payments space. from Banking/Finance-Industry-Economic Times https://ift.tt/3vstd...

Read more »

ICICI Bank launches merchant stack platform

The service, christened 'merchant stack', is targeted at the over 2 crore retail merchants in the country to render banking services digitally, the second largest private sector lender said in a statement. from Banking/Finance-Industry-Economic Times https://ift.tt/3vlCv...

Read more »

Banks need to up their game on IT investments, says IBA chief Mehta

They should also enhance their focus on cybersecurity, he said from Business Line - Money & Banking https://ift.tt/3u5SC...

Read more »

Acre ARC set to purchase Indiabulls assets

The deal is yet another attempt by the Sameer Gehlaut-led Indiabulls Group to shed capital-intensive assets as it moves to a new business model based on fees and trailing income. from Banking/Finance-Industry-Economic Times https://ift.tt/3xy8g...

Read more »

SBI earmarks Rs 30 crore to set up makeshift hospitals for COVID patients

It is to be noted that the Ministry of Corporate Affairs last week permitted makeshift hospitals and temporary COVID care facilities to be treated as an eligible Corporate Social Responsibility (CSR) activity. from Banking/Finance-Industry-Economic Times https://ift.tt/3vqCG...

Read more »

Interest on interest refunds: Lenders make provisions in Q4FY21

The IBA recently finalised a uniform methodology for refund or adjustment, as per the Supreme Court judgement from Business Line - Money & Banking https://ift.tt/3gKaJ...

Read more »

Banking is an essential service; allow vaccinations for bankers on priority, asks ICICI Bank

The comments come at a time when localised lockdowns are being announced across many pockets of the country in view of the rising COVID infections, which are breaching the 3 lakh mark daily and also resulting in over 2,000 officially counted deaths. from Banking/Finance-Industry-Economic Times https://ift.tt/3nu53...

Read more »

ICICI eyes Rs 31 lakh cr mechant payment market through new offering

Executive director Anup Bagchi said the bank is targeting income from "fee, credit and savings due to use of technology" by offering these services to these large and small establishments spread across the country. from Banking/Finance-Industry-Economic Times https://ift.tt/3nvqz...

Read more »

Most Indian companies have protections to limit effect of currency fluctuations: Moody’s

Refinancing risk associated with US dollar debt over next 18 months also appears manageable from Business Line - Money & Banking https://ift.tt/3t2ad...

Read more »

ICICI Bank launches digital banking service for retail merchants

‘Merchant Stack’ provides banking solutions for the retailer ecosystem from Business Line - Money & Banking https://ift.tt/2PDyR...

Read more »

Sa-Dhan seeks government support for its members

In a letter to finance minister Nirmala Sitharaman, Sa-Dhan has suggested extension of the government's partial credit guarantee scheme for bank loans on micro lenders to the extent of Rs 10,000 crore with Rs 2,000 crore being earmarked for small and medium MFIs. from Banking/Finance-Industry-Economic Times https://ift.tt/3aQ2J...

Read more »

IOB launches retail loans on digital platform

Retail loans are now available in IOB website, internet Banking, mobile banking app from Business Line - Money & Banking https://ift.tt/3gNWm...

Read more »

Axis Bank board approves re-appointment of Amitabh Chaudhry as MD & CEO

The appointment will be subject to the approval of the Reserve Bank of India (RBI) and shareholders of the bank, the filing added. from Banking/Finance-Industry-Economic Times https://ift.tt/2Qx8K...

Read more »

Bad bank to get Rs 2 lakh crore of defaulting companies’ loans

The association has identified 102 corporate bad loans, totalling to Rs 2 lakh crore, where the amount outstanding in each is over Rs 500 crore. They include loans in a variety of industries. These have been languishing in the books of banks for years with many admitted under the insolvency process. from Banking/Finance-Industry-Economic Times https://ift.tt/3u6yi...

Read more »

FIDC asks RBI to put off norms on auditor appointment by NBFCs to next fiscal

Finance Industry Development Council has requested the Reserve Bank of India to push back the guidelines for appointment of statutory auditors of ban from Business Line - Money & Banking https://ift.tt/3nu18...

Read more »

Axis Bank board okays reclassification of NIACL as 'public investor' from 'promoter'

In a regulatory filing, Axis Bank said a letter was placed for the consideration of the board at its meeting held on April 28, 2021. "The board at the meeting has considered and approved the said request received from NIACL to reclassify it to public category from promoter category" . from Banking/Finance-Industry-Economic Times https://ift.tt/3nv2m...

Read more »

SC rejects banks' pleas for recall of 2015 verdict asking RBI to disclose info about them under RTI

Several FIs and banks, including the Canara Bank, the Bank of Baroda, the UCO Bank and the Kotak Mahindra Bank had filed applications in the top court seeking a recall of the 2015 judgment in the Jayantilal N Mistry case, saying the verdict had far-reaching consequences and moreover, they were directly and substantially affected by it. from Banking/Finance-Industry-Economic Times https://ift.tt/3xuBC...

Read more »

NBFCs may not see much impact of second wave of COVID-19; pent-up demand to help

According to Shriram Transport Finance managing director and CEO Umesh Revankar, the non-bank lenders may see some temporary delay in loan repayments by borrowers in April or May as customers will like to preserve cash but that will not lead to a very significant jump in non-performing assets (NPAs). from Banking/Finance-Industry-Economic Times https://ift.tt/2Saay...

Read more »

Cost to cover default risks goes up for banks

Credit Default Swaps (CDS), an insurance against default, tied to ICICI Bank and State Bank of India are now at elevated levels that were last seen during the peak of the first wave of coronavirus. The CDS rates seem to discount the market-beating earnings of private lenders for the fourth quarter. from Banking/Finance-Industry-Economic Times https://ift.tt/3aMaa...

Read more »

Kotak plans infra fund even as it scouts for stressed assets

"We feel that there is a secular opportunity on infrastructure. The largest component of stress in the banking system is in infrastructure and it a large opportunity from a special situations perspective. We have gone back to our investors with this proporsition to put a significant amount of capital. We are getting a good response and if all goes well we will shoot for a $800 million fund," Sriniwasan said. from Banking/Finance-Industry-Economic Times https://ift.tt/3xpnu...

Read more »

Cannot afford lockdown, take precautions: Canara Bank ED

Karnataka’s annual credit plan outlay sees 35.78% increase from Business Line - Money & Banking https://ift.tt/3xv0l...

Read more »

Covid second wave: Lenders may sacrifice growth over asset quality concerns, says ICRA

Our Bureau Risk aversion among lenders may restrict their FY22 credit growth, which is estimated at 7.3-8.3 per cent for banks and 7.0-9.0 per cent fo from Business Line - Money & Banking https://ift.tt/2QDr2...

Read more »

PNB Housing Finance reports ₹127-cr net profit in Q4

Our BureauPNB Housing Finance Ltd (PNBHFL) has reported a net profit of ₹127 crore for the quarter ended March 31, 2021. The housing finance lender h from Business Line - Money & Banking https://ift.tt/3u1Od...

Read more »

Global platform Fintech.TV launches Digital Asset Report India with CoinSwitch Kuber as presenting sponsor

from Banking/Finance-Industry-Economic Times https://ift.tt/3ex6k...

Read more »

RBI Committee on ARCs invites views, suggestions from stakeholders by May 31

On April 19, RBI had set up a committee to undertake a comprehensive review of the working of asset reconstruction companies (ARCs) in the financial sector ecosystem and recommend suitable measures for enabling them to meet the growing requirements. from Banking/Finance-Industry-Economic Times https://ift.tt/3dYiZ...

Read more »

Bajaj Finserv Q4 consolidated net profit surges to ₹979 crore

For 2020-21, the company’s consolidated net profit soared 32.7% from Business Line - Money & Banking https://ift.tt/3sT7o...

Read more »

Blackstone chief Schwarzman commits USD 5 mn to India in pandemic aid

The announcement by Stephen A Schwarzman, the founder and chairman of the fund, comes on the heels of close to 40 major American companies committing millions of dollars to help the country fight the pandemic which has been topping the infection list globally for a week with daily caseload remaining above 3.25 lakh mark for almost a week now. from Banking/Finance-Industry-Economic Times https://ift.tt/3aNbi...

Read more »

RBI’s CEO tenure cap: Here’s how it will impact Uday Kotak; HDFC Bank, ICICI Bank, Axis Bank safe

RBI circular stated that the upper age limit for MD and CEO and WTDs in the private sector banks would continue and no person can continue as MD and CEO or WTD beyond the age of 70 years. from Banking & Finance – The Financial Express https://ift.tt/3sVOi...

Read more »

Banks convert existing infrastructure into Covid centres for employees

HDFC Bank has converted its training centres in Pune, Bhubaneswar and Gurgaon into isolation centres to deal with Covid-19-related emergencies for employees with symptoms. The bank has also tied up with hotels across the country for rooms. from Banking/Finance-Industry-Economic Times https://ift.tt/3dWqS...

Read more »

‘We will expand pan-India digitally’

At the moment our cost of funds is between 6 and 6.5% and we expect it to fall as more CASA (current account savings account) becomes available to the bank in terms of government and institutional deposits. from Banking & Finance – The Financial Express https://ift.tt/2S90g...

Read more »

NBFCs ask RBI for extended recast scheme, more liquidity support

They have also sought a standstill on asset classification of restructured accounts in Q1FY22. from Banking & Finance – The Financial Express https://ift.tt/2QsBv...

Read more »

Bajaj Finance consolidated net profit rises 42%

Bajaj Finance long term guidance is to grow AUM in the corridor of 25% to 27%, profit growth in the corridor of 23% to 24% and gross NPA in the 1.4% to 1.7% range with net NPA at 0.4% to 0.7% from Banking & Finance – The Financial Express https://ift.tt/3vq06...

Read more »

Axis Bank back in the black with Q4 net profit of 2,677 cr

The net interest margins (NIM) of the lender declined 3 basis point (bps) sequentially to 3.56%, but showed a growth of 1 bps on a y-o-y basis. from Banking & Finance – The Financial Express https://ift.tt/3eDBp...

Read more »

Despite pandemic, TMB registers impressive performance in FY21

Net profit grew to ₹603 crore in 2020-21 compared to ₹408 crore in 2019-20 from Business Line - Money & Banking https://ift.tt/3eDVl...

Read more »

Bajaj Finance Q4 net rises 42%

Net for FY21 falls 16% to ₹4,420 cr; new loans booked down at 54.7 lakh from Business Line - Money & Banking https://ift.tt/3sWTH...

Read more »

PNB Housing Finance reports Rs 130 crore net profit in fourth quarter

The lender's business volume shrunk while business prospects for the next quarters remain "highly unpredictable" following the severe second wave of coronavirus, the company said in a notice to stock exchanges. from Banking/Finance-Industry-Economic Times https://ift.tt/3xvGk...

Read more »

HDFC AMC fourth quarter net up 26% on higher income

Assets under management rose 24 per cent to ₹3.95 lakh crore from Business Line - Money & Banking https://ift.tt/3tYmO...

Read more »

NBFCs seek one-off restructuring citing second wave

The umbrella body also demanded an extension of different liquidity windows, a key lifeline to small or mid-size non-banking finance companies. Localised curbs on mobility weighted on the economy that was lately trying to clamber out of the sinkhole. from Banking/Finance-Industry-Economic Times https://ift.tt/2RYBQ...

Read more »

Lockdown isn’t a solution, people shouldobserve self-restrictions: Gujarat HC

Several towns, business associations, trade bodies start following voluntary lockdown from Business Line - Money & Banking https://ift.tt/3dUrt...

Read more »

Axis Bank Q4 net profit surges to Rs 2,677 crore

Net interest income grows 11 per cent to 7,555 crore from Rs 6,808 crore a year ago from Business Line - Money & Banking https://ift.tt/3tS1A...

Read more »

India to begin phase 3 vaccine strategy from May 1

Our Bureau India will commence its more liberalised phase-3 vaccination programme from May 1, making those above 18 years of age eligible for the anti from Business Line - Money & Banking https://ift.tt/3aH6P...

Read more »

‘Q1 is a cautious phase as customers are on wait-and-watch mode’

Spurt in demand after mid-May if infections come under control, says Ramesh Iyer, Vice-Chairman and Managing Director, Mahindra Finance from Business Line - Money & Banking https://ift.tt/32Vei...

Read more »

FIDC seeks relief measures in wake of second Covid wave

Seeks restructuring of loans taken by small NBFCs having asset size of less than ₹500 crore from Business Line - Money & Banking https://ift.tt/32RkW...

Read more »

SBI General Insurance to bear cost of COVID vaccination for active agents, POSPs

"The COVID-19 pandemic has created unprecedented challenges for businesses and people across the world. It's certainly commendable to witness our own COVID warriors i.e. our channel partners, who have stood firm and helped the organisation navigate the uncertain environment," SBIG's managing director and CEO PC Kandpal said. from Banking/Finance-Industry-Economic Times https://ift.tt/3xm9r...

Read more »

Restructure retail & individual loan accounts, liquidity support: FIDC to RBI

The body in a letter addressed to Shaktikanta Das, Governor of RBI, said this was for the interests of retail NBFCs who “primarily cater to the funding needs of MSMEs, truck/taxi drivers, machine operators and marginal farmers and provide loans for acquiring the vehicles/tractors/equipments for productive purposes." from Banking/Finance-Industry-Economic Times https://ift.tt/3dSO1...

Read more »

SBI to recruit 6,344 junior associates

The starting Basic Pay for Junior Associate is now higher at ₹19,900 against ₹13,075 earlier. from Business Line - Money & Banking https://ift.tt/3nmQV...

Read more »

Banks to remain closed for up to 12 days in various states in May 2021; check full list here

Banks in India will remain shut for up to 12 days in May 2021, including weekends and festivals. from Banking & Finance – The Financial Express https://ift.tt/3xn2h...

Read more »

RBI guidelines require banks, UCBs and NBFCs to appoint auditors for 3 years

Non-deposit taking NBFCs with asset size below ₹1,000 crore can continue with extant procedure from Business Line - Money & Banking https://ift.tt/32UT5...

Read more »

Neobank Fi partners with Federal Bank to open instant savings account

The savings account, to be issued in three minutes, is aimed at digital-first millennials from Business Line - Money & Banking https://ift.tt/3dUMl...

Read more »

RBI issues guidelines for appointment of statutory auditors of banks, NBFCs

'Guidelines for Appointment of Statutory Central Auditors (SCAs)/ Statutory Auditors (SAs) of Commercial Banks (excluding RRBs), UCBs and NBFCs (including HFCs)' will be applicable for financial year 2021-22 and onwards. from Banking/Finance-Industry-Economic Times https://ift.tt/2R44w...

Read more »

RBI article calls for monitoring movement of funds between banks and ARCs

Banks not just major shareholders of and lenders to Asset Reconstruction Companies but also sellers of non-performing assets to them from Business Line - Money & Banking https://ift.tt/2QYa4...

Read more »

Tenure of private bank chiefs must end in 15 years: RBI

The upper age limit for NEDs, including the chair of the board, shall be 75 years. The total tenure of an NED, continuously or otherwise, on the board of a bank, shall not exceed eight years. from Banking & Finance – The Financial Express https://ift.tt/3aGqI...

Read more »

Government appoints Economic Affairs Secretary Ajay Seth on RBI board

"The Central Government has nominated Ajay Seth, Secretary, Department of Economic Affairs, Ministry of Finance, Government of India as a Director on the Central Board of Reserve Bank of India vice Tarun Bajaj," the RBI said in a statement. from Banking/Finance-Industry-Economic Times https://ift.tt/3eqxf...

Read more »

Introduction of bad bank can make existing ARCs more effective: RBI paper

It said banks supply non performing assets (NPAs) to the ARCs, hold shareholding in these entities and also lend to them, which makes it necessary to monitor if there is a "circuitous movement of funds between banks and these institutions (ARCs)". from Banking/Finance-Industry-Economic Times https://ift.tt/3nnuF...

Read more »

After Morgan Stanley, JPMorgan prepares to offer rich clients access to bitcoin fund

The move would also signal a shift in the company's outlook towards cryptocurrencies as its CEO Jamie Dimon had reportedly called bitcoin a dangerous fraud in 2017 and had also threatened to fire employees who traded bitcoin. from Banking & Finance – The Financial Express https://ift.tt/3xB3h...

Read more »

In relief for private banks, RBI allows 15-year tenure for MD & CEO

No person can continue as MD & CEO or WTD beyond the age of 70 years from Business Line - Money & Banking https://ift.tt/32OPt...

Read more »

Bank credit grows 5.33%; deposits rise 10.94%

Care Ratings in a recent report said the bank credit growth rate continues to decline, however, in absolute terms bank credit (in the fortnight ended April 9, 2021) increased by Rs 5.5 lakh crore as compared to the fortnight ended April 10, 2020, but declined by Rs 0.62 lakh crore from the previous fortnight ended March 26, 2021. from Banking/Finance-Industry-Economic Times https://ift.tt/3sQ6x...

Read more »

Bank credit grows 5.33%; deposits rise 10.94%

In the fortnight ended April 10, 2020, bank advances stood at Rs 103.38 lakh crore and deposits were Rs 137.15 lakh crore. from Business Line - Money & Banking https://ift.tt/3sRUY...

Read more »

Private banks may have to review succession plans

Kotak Mahindra Bank to be impacted but not immediately from Business Line - Money & Banking https://ift.tt/3xrY3...

Read more »

Vaccinate banking and insurance sector staff on ‘priority basis’: FinMin to States

The Finance Ministry has asked State governments to put in place a special system to vaccinate employees of banks, insurance companies and financial s from Business Line - Money & Banking https://ift.tt/3sT3s...

Read more »

SBI Card posts ₹175-crore profit in Q4

Sharp increase in other income, lower provisioning for impairment and bad debts boost bottomline from Business Line - Money & Banking https://ift.tt/3aEV7...

Read more »

Blow to Uday Kotak as RBI caps tenure of bank founders, CEOs

“While examining the matter of re-appointment of such MD&CEOs or WTDs within the 12-15 years period, the level of progress and adherence to the milestones for dilution of promoters’ shareholding in the bank shall also be factored in by the Reserve Bank,” the regulator said. from Banking/Finance-Industry-Economic Times https://ift.tt/3tUQC...

Read more »

UP-based Shivalik SFB commences operations

Our Bureau Uttar Pradesh-based Shivalik Small Finance Bank has commenced operations as a small finance bank with effect from April 26, according to t from Business Line - Money & Banking https://ift.tt/3aBQ6...

Read more »

What are Indians buying through digital payments?

Apart from buying essentials like groceries and paying bills, consumers are also purchasing costlier items like gems and jewellery and home decor from Business Line - Money & Banking https://ift.tt/3sTPk...

Read more »

HDFC Life Insurance Q4 net profit up 2%

Insurer’s net premium income grew by a robust 23 per cent from Business Line - Money & Banking https://ift.tt/2QAR5...

Read more »

Agi-focussed NAFA raises $40 m via ECB

Funds will be utilised to expand horizons in the agri-rural domain from Business Line - Money & Banking https://ift.tt/3nkdr...

Read more »

Paytm launches ‘Wealth Community’ for young investors

The video-based initiative will enable users to interact with experts on wealth topics from Business Line - Money & Banking https://ift.tt/3xsqw...

Read more »

Budget proposal has not affected ULIP segment of ICICI Pru Life: MD and CEO

Investors don’t need to worry if long-term investment is on the same tax platform across MFs and insurance, says NS Kannan from Business Line - Money & Banking https://ift.tt/3dPaf...

Read more »

New policy on education loans: A new chapter for students, but is it risky?

There are rising concerns over possible defaults in education loans as companies may revisit hiring plans due to impact of Covid from Business Line - Money & Banking https://ift.tt/2R1CS...

Read more »

Data bank: Setback for the housing sector

  from Business Line - Money & Banking https://ift.tt/3exHs...

Read more »

Perpetual bonds – where do we go from here?

Markets will get more clarity over next few months as some AT-1 bonds approach the call date from Business Line - Money & Banking https://ift.tt/3njJp...

Read more »

DBS in ‘advanced talks’ to buy Citi’s consumer banking business in India

Many also be interested in Citi’s credit card business from Business Line - Money & Banking https://ift.tt/3esLi...

Read more »

India's top life insurers - LIC, ICICI, HDFC, SBI - are set to invest in InvITs, REITS

Bonds issued by InvITs or REITs are likely to offer at least 100 basis points more than vanilla corporate bonds, fund managers said. InvITs or REITs are formed using a pool of assets that are bunched up in a Special Purpose Vehicle (SPV), which can sell bonds to raise debt up to 50 percent of net worth. from Banking/Finance-Industry-Economic Times https://ift.tt/3njwg...

Read more »

After KPMG, DmKH & Co appointed as another forensic auditor of Srei

Srei has a consolidated debt of around Rs 20,000 crore from Indian banks and around Rs 10,000 crore through bonds and from other financial institutions. from Banking & Finance – The Financial Express https://ift.tt/3azGQ...

Read more »

Q4 performance: ICICI Bank net profit up 261% y-o-y

Sandeep Batra, executive director, ICICI Bank, said, “The growth in business banking continued to be robust,leveraging the bank’s distribution network and digital platforms such asInstaBIZ and Trade Online.” from Banking & Finance – The Financial Express https://ift.tt/3gCec...

Read more »