IT and HR synergy are key challenges for PNB-OBC-UBI merger

Harmonising human resource issues will be another key aspect of these mergers, as was seen in the past.

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SBI opens 14th branch in Ladakh

State Bank of India opened a branch in Diskit village, Nubra Valley, Leh district on Saturday. This is the Bank's 14th branch in Ladakh .With the popu

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View: How India can overcome its credit issues

Rating agency regulations must be improved, but we must also realise that "credit market frameworks" are much more than ratings.

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Speculation has hit YES Bank share price, allege promoter firms

 Two promoter companies of YES Bank – Yes Capital India (Private) Ltd and Morgan Credits Private Ltd – have written to the stock exchanges, Reserve Ba

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Muthoot Fincorp plans to raise ₹500 crore via NCDs

Muthoot Fincorp, a Muthoot Pappachan Group company, in the coming weeks, plans to come out with a ₹500-crore non-convertible debenture (NCD) issue (in

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United Bank plans to raise Rs 3,000 crore via preferential allotment

In that meeting, the bank will also consider the proposed amalgamation of United Bank of India and Oriental Bank of Commerce with Punjab National Bank.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/32KlRjV

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Non-food credit growth falls to over 20 month low

Aggregate deposits in the banking system stood at Rs 116.46 lakh crore from Rs 126.80 lakh crore in the previous fortnight, as per the central bank's data.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2QbX5ro

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Banking Services Expansion: RBI puts out draft norms for ‘on tap’ licensing of SFBs

he promoter stake will have to be brought down to a maximum of 30% of the paid-up voting equity capital within 10 years, and to a maximum of 15% within 15 years from the date of commencement of business.

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United Bank plans to raise Rs 3,000 crore via preferential allotment

In that meeting, the bank will also consider the proposed amalgamation of United Bank of India and Oriental Bank of Commerce with Punjab National Bank.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/32KlRjV

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Non-food credit growth falls to over 20 month low

Aggregate deposits in the banking system stood at Rs 116.46 lakh crore from Rs 126.80 lakh crore in the previous fortnight, as per the central bank's data.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2QbX5ro

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Banking Services Expansion: RBI puts out draft norms for ‘on tap’ licensing of SFBs

he promoter stake will have to be brought down to a maximum of 30% of the paid-up voting equity capital within 10 years, and to a maximum of 15% within 15 years from the date of commencement of business.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2LvEEJR

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Altico default sends MFs, banks scurrying for cover

UTI MF and Reliance Nippon AMC segregated co’s papers to protect NAVs of debt schemes; India Ratings and Care downgraded Altico.

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PSU Bank merger: Canara Bank board approves merger with Syndicate Bank; key things to know

Canara Bank board on Friday gave in-principle approval to its merger with Syndicate Bank.

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This RBI move leaves more money for banks to lend to consumers ahead of festive season

Reserve Bank of India’s move to reduce risk weightage requirement for consumer loans may provide a boost to consumer lending and spending.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/30fedMF

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This RBI move leaves more money for banks to lend to consumers ahead of festive season

Reserve Bank of India’s move to reduce risk weightage requirement for consumer loans may provide a boost to consumer lending and spending.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/30fedMF

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Corp Bank cuts MCLR

Corporation Bank has reduced its marginal cost of funds-based lending rate (MCLR) by 5-15 basis points with effect from September 15. The bank informe

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Altico Cap India defaults on ₹20-crore interest payment

Altico Capital India has defaulted on interest payment of ₹19.97 crore on the external commercial borrowing (ECB) it had raised from Mashreqbank.The

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IRDAI opens application window for regulatory sandbox participation

IRDAI said that the first window for applications will open from September 15 to October 13.

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IRDAI plans to start accepting applications from Sunday

The Insurance Regulatory and Development Authority of India (IRDAI) will start receiving applications for regulatory sandbox from September 15, giving

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RBI panel suggests measures to boost credit to farm sector

Says both Central and State govts must set up a credit guarantee fund

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NPCI rationalises MDR for RuPay debit card deals

Hoping to boost the use of debit cards, the National Payments Corporation of India (NPCI) has rationalised the merchant discount rate (MDR) for RuPay

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Canara Bank board gives in-principle approval for merger with Syndicate

Canara Bank’s board of directors, on Friday, gave the in-principle approval for amalgamation of the bank with Syndicate Bank.The in-principle approva

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RBI proposes Rs 200 crore minimum capital for small banks under 'on tap' licence regime

The RBI said existing NBFCs, micro finance institutions and local area banks in the private sector, which are controlled by residents, can opt for conversion into small finance banks.

from Banking/Finance-Industry-Economic Times https://ift.tt/2LKJdyU

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Indian Bank Board to meet on September 18 to consider merger

The Board will also consider additional capital infusion by the government by way of preferential issue of shares subject to regulatory approvals, Executive Director M.K. Bhattacharya added.

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India's GDP growth rate 'much weaker' than expected: IMF

India's economic growth is "much weaker" than expected, according to the IMF, which attributed it to the corporate and environmental regulatory uncertainty and lingering weaknesses in some non-bank financial companies.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2Ludinl

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Arman Financial Q1 net jumps 138%

City-based micro-finance non-banking financial company (NBFC), Arman Financial Services Ltd, reported a sharp 138 per cent jump in net profit for the

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PNB merger: Oriental Bank Board to meet on Sept 18

Oriental Bank of Commerce’s Board will meet on September 18 to consider proposal for approval of amalgamation of the bank with Punjab National Bank (P

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RBI increases banks’ loan exposure limit to single NBFC

According to the extant 'Large Exposures Framework (LEF)', banks' exposure to a single non-banking financial company (NBFC) is restricted to 15 per cent of their available eligible capital base, while general single counter-party exposure limit is 20 per cent, which can be extended to 25 per cent by banks' boards under exceptional circumstances.

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RBI increases banks’ loan exposure limit to single NBFC

According to the extant 'Large Exposures Framework (LEF)', banks' exposure to a single non-banking financial company (NBFC) is restricted to 15 per cent of their available eligible capital base, while general single counter-party exposure limit is 20 per cent, which can be extended to 25 per cent by banks' boards under exceptional circumstances.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/31hJQ9z

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Interpol issues Red Corner Notice against Nirav Modi's brother Nehal

The Interpol on Friday issued a Red Corner Notice or RCN against fugitive diamond merchant Nirav Modi's brother Nehal in connection with the multi-billion dollar Punjab National Bank (PNB) scam. Nehal, based in the United States, is accused of money laundering and destruction of evidence.

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Bank of Baroda committee to consider raising funds via bonds

Public sector lender Bank of Baroda on Friday said its capital raising committee will meet next week to consider raising funds through bonds. “The ca

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Altico Capital defaults on payments

Altico Capital India Ltd, on Thursday, said that it has defaulted on interest payment of ₹19.97 crore on the external commercial borrowing (ECB) it h

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India's eco growth is 'much weaker' than expected: IMF

The International Monetary Fund (IMF) on Thursday said that India's economic growth is "much weaker" than expected due to corporate and environmental regulatory uncertainty and "lingering weakness" in some non-Bank financial companies. The IMF has cut its projection for India's economic growth by 0.3 percentage points to 7% for the fiscal year 2019-20.

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HFCs and NBFCs await more clarity on external benchmark-linked home loans

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Digital transaction volumes soar; BHIM gains currency

There has been an increase in digital payments across the country since 2016. The number of digital transactions in 2016-17 was 1,013 crore, which inc

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Commercial paper issuance by NBFCs fall 66 pct in August as cost of funds rises

Commercial paper (CP) issuances by non-banking financial companies (NBFCs) dropped over 66% year-on-year (y-o-y) in August 2019, led by a rise in cost of funds and correction of asset-liability mismatch by non-banks.

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Big banks shouldn’t go subprime amid slipping credit growth

The near-recession in the consumer economy means unsecured lending could be the next domino to fall. 

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Q5ffep

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Booster shot for real estate sector; National Housing Bank to pick up stakes in HFCs

To help revive the ailing real-estate sector and give a further push to affordable housing where the government is placing a lot of thrust on, finance minister Nirmala Sitharaman will soon announce a clutch of steps.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2NXYCie

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Big banks shouldn’t go subprime amid slipping credit growth

The near-recession in the consumer economy means unsecured lending could be the next domino to fall. 

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Q5ffep

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Booster shot for real estate sector; National Housing Bank to pick up stakes in HFCs

To help revive the ailing real-estate sector and give a further push to affordable housing where the government is placing a lot of thrust on, finance minister Nirmala Sitharaman will soon announce a clutch of steps.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2NXYCie

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Canara Bank looks to raise Rs 1,000 crore from sale of Can Fin Homes

Canara Bank expects to raise around Rs 1,000 crore by offloading its entire 30% stake in mortgage lender Can Fin Homes.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Aca0Pa

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Commercial paper issuance by NBFCs fall 66 pct in August as cost of funds rises

Commercial paper (CP) issuances by non-banking financial companies (NBFCs) dropped over 66% year-on-year (y-o-y) in August 2019, led by a rise in cost of funds and correction of asset-liability mismatch by non-banks.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ZUQBBB

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Commercial paper issuance by NBFCs fall 66 pct in August as cost of funds rises

Commercial paper (CP) issuances by non-banking financial companies (NBFCs) dropped over 66% year-on-year (y-o-y) in August 2019, led by a rise in cost of funds and correction of asset-liability mismatch by non-banks.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ZUQBBB

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Aye Finance ventures into supply chain financing

Fintech moving West and East for a pan-India presence, says CEO

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IBA-empanelled agencies to monitor PSB funds usage

In all, 83 agencies empanelled by the IBA would be appointed by lenders on case-to-case basis depending on size of the corporate and the complexity of their business.

from Banking/Finance-Industry-Economic Times https://ift.tt/31ecLeI

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Canara Bank looks to raise Rs 1,000 crore from sale of Can Fin Homes

Canara Bank expects to raise around Rs 1,000 crore by offloading its entire 30% stake in mortgage lender Can Fin Homes.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Aca0Pa

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Commercial paper issuance by NBFCs fall 66 pct in August as cost of funds rises

Commercial paper (CP) issuances by non-banking financial companies (NBFCs) dropped over 66% year-on-year (y-o-y) in August 2019, led by a rise in cost of funds and correction of asset-liability mismatch by non-banks.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ZUQBBB

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CG Power fails to get Rs 200-crore working capital

Banks not keen to lend as government agencies step up probe into alleged wrongdoings in company.

from Banking/Finance-Industry-Economic Times https://ift.tt/31g2oHp

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Canara Bank looks to raise Rs 1,000 crore from sale of Can Fin Homes

Canara Bank expects to raise around Rs 1,000 crore by offloading its entire 30% stake in mortgage lender Can Fin Homes.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Aca0Pa

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Commercial paper issuance by NBFCs fall 66 pct in August as cost of funds rises

Commercial paper (CP) issuances by non-banking financial companies (NBFCs) dropped over 66% year-on-year (y-o-y) in August 2019, led by a rise in cost of funds and correction of asset-liability mismatch by non-banks.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ZUQBBB

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Canara Bank looks to raise Rs 1,000 crore from sale of Can Fin Homes

Canara Bank expects to raise around Rs 1,000 crore by offloading its entire 30% stake in mortgage lender Can Fin Homes.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Aca0Pa

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Commercial paper issuance by NBFCs fall 66 pct in August as cost of funds rises

Commercial paper (CP) issuances by non-banking financial companies (NBFCs) dropped over 66% year-on-year (y-o-y) in August 2019, led by a rise in cost of funds and correction of asset-liability mismatch by non-banks.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ZUQBBB

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Canara Bank looks to raise Rs 1,000 crore from sale of Can Fin Homes

Canara Bank expects to raise around Rs 1,000 crore by offloading its entire 30% stake in mortgage lender Can Fin Homes.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Aca0Pa

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Commercial paper issuance by NBFCs fall 66 pct in August as cost of funds rises

Commercial paper (CP) issuances by non-banking financial companies (NBFCs) dropped over 66% year-on-year (y-o-y) in August 2019, led by a rise in cost of funds and correction of asset-liability mismatch by non-banks.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ZUQBBB

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Canara Bank looks to raise Rs 1,000 crore from sale of Can Fin Homes

Canara Bank expects to raise around Rs 1,000 crore by offloading its entire 30% stake in mortgage lender Can Fin Homes.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Aca0Pa

Read more »

Commercial paper issuance by NBFCs fall 66 pct in August as cost of funds rises

Commercial paper (CP) issuances by non-banking financial companies (NBFCs) dropped over 66% year-on-year (y-o-y) in August 2019, led by a rise in cost of funds and correction of asset-liability mismatch by non-banks.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ZUQBBB

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Canara Bank looks to raise Rs 1,000 crore from sale of Can Fin Homes

Canara Bank expects to raise around Rs 1,000 crore by offloading its entire 30% stake in mortgage lender Can Fin Homes.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2Aca0Pa

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Commercial paper issuance by NBFCs fall 66 pct in August as cost of funds rises

Commercial paper (CP) issuances by non-banking financial companies (NBFCs) dropped over 66% year-on-year (y-o-y) in August 2019, led by a rise in cost of funds and correction of asset-liability mismatch by non-banks.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ZUQBBB

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HFCs await more clarity on external benchmark linked home loans

Pressure to compete with banks but cost of funds an issue

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Debt crisis hits India’s plan to expand corporate bond market

India’s plans to expand its corporate bond market are running up against a year-long credit crisis is another obstacle for Prime Minister Narendra Mod

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Canara Bank expects over Rs 1,000 crore through disinvestment of stake in CanFin Homes

The Bengaluru headquartered public sector bank is looking to completely exit from the housing finance company.

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Banks mergers a good move, says Vinod Rai

Former comptroller and Auditor General (CAG) and chairman of Banks Board Bureau Vinod Rai on Tuesday said the government’s decision last month to merge 10 state-run banks to create four larger and stronger entities was a “good move” that would lead to greater synergy among them and better governance.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/34Dagok

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Banks mergers a good move, says Vinod Rai

Former comptroller and Auditor General (CAG) and chairman of Banks Board Bureau Vinod Rai on Tuesday said the government’s decision last month to merge 10 state-run banks to create four larger and stronger entities was a “good move” that would lead to greater synergy among them and better governance.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/34Dagok

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Banks mergers a good move, says Vinod Rai

Former comptroller and Auditor General (CAG) and chairman of Banks Board Bureau Vinod Rai on Tuesday said the government’s decision last month to merge 10 state-run banks to create four larger and stronger entities was a “good move” that would lead to greater synergy among them and better governance.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/34Dagok

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Banks mergers a good move, says Vinod Rai

Former comptroller and Auditor General (CAG) and chairman of Banks Board Bureau Vinod Rai on Tuesday said the government’s decision last month to merge 10 state-run banks to create four larger and stronger entities was a “good move” that would lead to greater synergy among them and better governance.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/34Dagok

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Bike insurance expired? Here’s what you should do

Here is how you can renew your lapsed policy or buy a new one.

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Banks mergers a good move, says Vinod Rai

Former comptroller and Auditor General (CAG) and chairman of Banks Board Bureau Vinod Rai on Tuesday said the government’s decision last month to merge 10 state-run banks to create four larger and stronger entities was a “good move” that would lead to greater synergy among them and better governance.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/34Dagok

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Banks mergers a good move, says Vinod Rai

Former comptroller and Auditor General (CAG) and chairman of Banks Board Bureau Vinod Rai on Tuesday said the government’s decision last month to merge 10 state-run banks to create four larger and stronger entities was a “good move” that would lead to greater synergy among them and better governance.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/34Dagok

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Foreign investors bet big on private insurers

Pump in over ₹9,200 crore between April and mid-August

from Business Line - Money & Banking https://ift.tt/2N9jBPg

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Life insurers seek IRDAI nod to sell indemnity-based health insurance

Life insurance companies have approached the Insurance Regulatory and Development Authority of India (IRDAI) for permission to start selling indemnity

from Business Line - Money & Banking https://ift.tt/2Q5LABJ

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Banks mergers a good move, says Vinod Rai

Former comptroller and Auditor General (CAG) and chairman of Banks Board Bureau Vinod Rai on Tuesday said the government’s decision last month to merge 10 state-run banks to create four larger and stronger entities was a “good move” that would lead to greater synergy among them and better governance.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/34Dagok

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External benchmarks for loan pricing puts cart before the horse

Banks did not automatically raise or cut lending rates whenever RBI did so with its repo rate.

from Banking/Finance-Industry-Economic Times https://ift.tt/2N6Ajio

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Banks mergers a good move, says Vinod Rai

Former comptroller and Auditor General (CAG) and chairman of Banks Board Bureau Vinod Rai on Tuesday said the government’s decision last month to merge 10 state-run banks to create four larger and stronger entities was a “good move” that would lead to greater synergy among them and better governance.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/34Dagok

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CVC Capital, Carlyle could be shortlisted for Piramal, TPG stake in Shriram Capital

Advent International has invested Rs 1,000 crore via its affiliate Jomei Investment in Aditya Birla capital last week.

from Banking/Finance-Industry-Economic Times https://ift.tt/2I0LMMe

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Banks mergers a good move, says Vinod Rai

Former comptroller and Auditor General (CAG) and chairman of Banks Board Bureau Vinod Rai on Tuesday said the government’s decision last month to merge 10 state-run banks to create four larger and stronger entities was a “good move” that would lead to greater synergy among them and better governance.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/34Dagok

Read more »

Banks mergers a good move, says Vinod Rai

Former comptroller and Auditor General (CAG) and chairman of Banks Board Bureau Vinod Rai on Tuesday said the government’s decision last month to merge 10 state-run banks to create four larger and stronger entities was a “good move” that would lead to greater synergy among them and better governance.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/34Dagok

Read more »

Banks mergers a good move, says Vinod Rai

Former comptroller and Auditor General (CAG) and chairman of Banks Board Bureau Vinod Rai on Tuesday said the government’s decision last month to merge 10 state-run banks to create four larger and stronger entities was a “good move” that would lead to greater synergy among them and better governance.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/34Dagok

Read more »

Banks mergers a good move, says Vinod Rai

Former comptroller and Auditor General (CAG) and chairman of Banks Board Bureau Vinod Rai on Tuesday said the government’s decision last month to merge 10 state-run banks to create four larger and stronger entities was a “good move” that would lead to greater synergy among them and better governance.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/34Dagok

Read more »

Banks mergers a good move, says Vinod Rai

Former comptroller and Auditor General (CAG) and chairman of Banks Board Bureau Vinod Rai on Tuesday said the government’s decision last month to merge 10 state-run banks to create four larger and stronger entities was a “good move” that would lead to greater synergy among them and better governance.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/34Dagok

Read more »

Banks mergers a good move, says Vinod Rai

Former comptroller and Auditor General (CAG) and chairman of Banks Board Bureau Vinod Rai on Tuesday said the government’s decision last month to merge 10 state-run banks to create four larger and stronger entities was a “good move” that would lead to greater synergy among them and better governance.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/34Dagok

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Same mechanism for loans, liabilities: HDFC may link rates to external benchmarks

Move to be discussed at next asset liability committee meeting to be held in two weeks.

from Banking/Finance-Industry-Economic Times https://ift.tt/2N9vTr3

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DHFL repays outstanding amount against commercial papers to fund houses

Dewan Housing Financial Corporation (DHFL) is steadily paying off to mutual funds that hold its commercial paper to avoid litigation, sources said, as some of them had taken the legal route.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ZIMoQP

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SBI lowers MCLR by 10 bps across tenures

The country’s largest lender, State Bank of India (SBI), on Monday announced to cut its marginal cost of funds-based lending rates (MCLR) by 10 basis points (bps) across tenures, with effect from Tuesday.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/31b3qUW

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DHFL repays outstanding amount against commercial papers to fund houses

Dewan Housing Financial Corporation (DHFL) is steadily paying off to mutual funds that hold its commercial paper to avoid litigation, sources said, as some of them had taken the legal route.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ZIMoQP

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Paytm owner in talks to pick up stake in Yes Bank

Mobile payments major Paytm-owner One97 Communications is in preliminary discussions for a deal to pick up a stake in private sector lender Yes Bank. The structure of the deal is still being discussed and much will depend on the approval from the Reserve Bank of India (RBI), as One97 and Paytm founder Vijay Shekhar Sharma already owns Paytm Payments Bank, sources said.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2ZQUmHp

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SBI lowers MCLR by 10 bps across tenures

The country’s largest lender, State Bank of India (SBI), on Monday announced to cut its marginal cost of funds-based lending rates (MCLR) by 10 basis points (bps) across tenures, with effect from Tuesday.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/31b3qUW

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DHFL repays outstanding amount against commercial papers to fund houses

Dewan Housing Financial Corporation (DHFL) is steadily paying off to mutual funds that hold its commercial paper to avoid litigation, sources said, as some of them had taken the legal route.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ZIMoQP

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SBI lowers MCLR by 10 bps across tenures

The country’s largest lender, State Bank of India (SBI), on Monday announced to cut its marginal cost of funds-based lending rates (MCLR) by 10 basis points (bps) across tenures, with effect from Tuesday.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/31b3qUW

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DHFL repays outstanding amount against commercial papers to fund houses

Dewan Housing Financial Corporation (DHFL) is steadily paying off to mutual funds that hold its commercial paper to avoid litigation, sources said, as some of them had taken the legal route.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ZIMoQP

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SBI lowers MCLR by 10 bps across tenures

The country’s largest lender, State Bank of India (SBI), on Monday announced to cut its marginal cost of funds-based lending rates (MCLR) by 10 basis points (bps) across tenures, with effect from Tuesday.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/31b3qUW

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DHFL repays outstanding amount against commercial papers to fund houses

Dewan Housing Financial Corporation (DHFL) is steadily paying off to mutual funds that hold its commercial paper to avoid litigation, sources said, as some of them had taken the legal route.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ZIMoQP

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External benchmarking will lead to pressure on margin: Banks

In a move to improve interest rate transmission, RBI has mandated banks to link their lending rates for retail, MSME and personal segment to external benchmark from October 1.

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For seamless three-way merger, PNB goes on consultant recruitment drive

To rope in external advisors in as many as 21 banking domain areas

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Axis Bank plans to focus on rural markets

Private sector lender Axis Bank is focussing on rural markets as part of a strategy to deepen its retail business.Pralay Mondal, who joined the privat

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IDBI to launch co-branded credit card with LIC

To further strengthen its relationship with parent Life Insurance Corporation of India, IDBI Bank is planning to launch a co-branded credit card, whic

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External benchmarking will lead to pressure on margin: Banks

In a move to improve interest rate transmission, RBI has mandated banks to link their lending rates for retail, MSME and personal segment to external benchmark from October 1.

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RBI cracks the whip on office account misuse

Asks banks to curb unauthorised OD, laundering via such intermediary accounts..

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External benchmarking will lead to pressure on margin: Banks

In a move to improve interest rate transmission, RBI has mandated banks to link their lending rates for retail, MSME and personal segment to external benchmark from October 1.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ZMmBah

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SBI lowers MCLR by 10 bps across tenures

The country’s largest lender, State Bank of India (SBI), on Monday announced to cut its marginal cost of funds-based lending rates (MCLR) by 10 basis points (bps) across tenures, with effect from Tuesday.

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DHFL repays outstanding amount against commercial papers to fund houses

Dewan Housing Financial Corporation (DHFL) is steadily paying off to mutual funds that hold its commercial paper to avoid litigation, sources said, as some of them had taken the legal route.

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SBI lowers MCLR by 10 bps across tenures

The country’s largest lender, State Bank of India (SBI), on Monday announced to cut its marginal cost of funds-based lending rates (MCLR) by 10 basis points (bps) across tenures, with effect from Tuesday.

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DHFL repays outstanding amount against commercial papers to fund houses

Dewan Housing Financial Corporation (DHFL) is steadily paying off to mutual funds that hold its commercial paper to avoid litigation, sources said, as some of them had taken the legal route.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ZIMoQP

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External benchmarking will lead to pressure on margin: Banks

In a move to improve interest rate transmission, RBI has mandated banks to link their lending rates for retail, MSME and personal segment to external benchmark from October 1.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ZMmBah

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External benchmarking will lead to pressure on margin: Banks

In a move to improve interest rate transmission, RBI has mandated banks to link their lending rates for retail, MSME and personal segment to external benchmark from October 1.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ZMmBah

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Race against time! PSU banks form high-level committees to meet merger deadline

Bank Merger: Top management of these banks have also identified the core business areas that will be looked after by the specific teams.

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Ravi Shankar Prasad exhorts India Post Payments Bank to aim for five fold increase in accounts, customers in 1 year

The minister also asked the Postal Department to bring improvements in its delivery system, and conduct regular audits and reviews.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2N68eYu

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External benchmarking will lead to pressure on margin: Banks

In a move to improve interest rate transmission, RBI has mandated banks to link their lending rates for retail, MSME and personal segment to external benchmark from October 1.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ZMmBah

Read more »

Race against time! PSU banks form high-level committees to meet merger deadline

Bank Merger: Top management of these banks have also identified the core business areas that will be looked after by the specific teams.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2N6QnAs

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Ravi Shankar Prasad exhorts India Post Payments Bank to aim for five fold increase in accounts, customers in 1 year

The minister also asked the Postal Department to bring improvements in its delivery system, and conduct regular audits and reviews.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2N68eYu

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Race against time! PSU banks form high-level committees to meet merger deadline

Bank Merger: Top management of these banks have also identified the core business areas that will be looked after by the specific teams.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2N6QnAs

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Ravi Shankar Prasad exhorts India Post Payments Bank to aim for five fold increase in accounts, customers in 1 year

The minister also asked the Postal Department to bring improvements in its delivery system, and conduct regular audits and reviews.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2N68eYu

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Race against time! PSU banks form high-level committees to meet merger deadline

Bank Merger: Top management of these banks have also identified the core business areas that will be looked after by the specific teams.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2N6QnAs

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Ravi Shankar Prasad exhorts India Post Payments Bank to aim for five fold increase in accounts, customers in 1 year

The minister also asked the Postal Department to bring improvements in its delivery system, and conduct regular audits and reviews.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2N68eYu

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India Ratings warns NBFCs of Rs 70,000 crore ticking time bomb

India Ratings said on Monday that with refinancing options looking bleak for these developer companies due to high costs of fund and liquidity tightness, some of these exposures may turn delinquent.

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Oriental Bank of Commerce cuts MCLR by up to 25 bps

Oriental Bank of Commerce (OBC) has cut its marginal cost of funds-based lending rates (MCLR) by up to 25 basis points across tenors. With this move

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For capital push to housing-fin securitisation, RBI panel makes a slew of recommendations

To ensure participation of wider pools of capital in housing finance securitisation, a Reserve Bank of India committee has recommended the setting up

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Reliance Capital ends talks with Hero Fincorp on insurer sale

According to sources, Reliance Capital struggled to raise funds for acquisition

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Union Bank Board okays merger of Andhra, Corp Bank; clears Rs 17,200-cr capital infusion

Union Bank of India on Monday said its board of directors has approved merger of Andhra Bank and Corporation Bank with itself and given nod for a cap

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India Ratings cuts NBFC growth forecast to 10-12% in FY20

In an indication of continued concerns for the NBFC sector, India Ratings on Monday revised its outlook for the non-banking finance companies to negat

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SBI cuts lending rates by 10 bps

The bank also slashed the term deposit rate by up to 25 bps

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Equitas Holdings could be in for a rough ride; stock down over 6%

BL Research BureauEquitas Holdings---the holding company of Equitas Small Finance Bank—could be in for a rough ride. The RBI last week refused the com

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Ahead of festive season, SBI again cuts lending rates by 10 bps

Public sector lender State Bank on Monday announced yet another reduction in lending rates by 10 basis points across tenors. The new rates are effective September 10, the lender said announcing the third rate reduction in the current fiscal year.

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Govt introduces code of conduct, performance rating for non-official directors at PSBs

In a communication to the MDs of all PSBs, the ministry said the government has decided to institute certain measures to improve corporate governance in banks.

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Muthoot Finance denies move to close down branches outside Kerala

Gold loan lender Muthoot Finance, which is bearing the brunt of the strike by a section of workers in Kerala, has scotched rumours of closing down of

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Motor Vehicles Act impact: To avoid new harsh fines, vehicle owners rush to buy insurance

Delhi, Karnataka, UP and Maharashtra see highest jump in renewals in lapsed two-wheeler policies

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DHFL may get a Rs 7,000-crore lifeline

Lenders plan to infuse more funds to ensure SMA-2 loans don’t turn into NPAs; mutual fund houses are unlikely to sign ICA.

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No slowdown in lending to the poor in July 2018-July 2019

Loans to weaker sections soared 26%, credit to large industries rose 7%.

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Finance Ministry raises governance bar for non-official directors at PSBs

Introduces new code and peer-review to enhance their effectiveness

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Punjab National Bank puts up 11 NPAs for sale to recover Rs 1,234 crore in dues

The bank has asked the prospective bidders to expedite the process of due diligence, saying it will make all possible efforts to bring copies of documents at one place for verification.

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SBI sought issuance of 147 Look Out Circulars in last 5 months pertaining to bank fraud cases

On October 12, 2018, the Home Ministry included Chairman, Chief Executive Officers and Managing Directors of public sector banks in the list of individuals who can seek issuance of Look Out Circulars against offenders to prevent their escape from the country, it said.

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Festive offer: Bank of India providing home loans at concessional rate, no processing charges

The bank has also launched an SME welcome offer, he said, adding, loans between Rs 50 and Rs 5 crore would be available at concessional rate depending on value of security.

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12 PSU banks almost right to cater to aspirational India, says Finance Secretary

The cleaning up exercise undertaken by him has now started showing result with 14 out of 18 public sector banks posting profit in the first quarter of the current fiscal.

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18 PSBs hit by 2,480 cases of fraud of Rs 32,000 cr in Q1: RTI

After SBI, Allahabad Bank faced the heat with 381 cheating cases involving Rs 2,855.46 crore. Punjab National Bank stood third in the list with 99 sham cases worth Rs 2,526.55 crore.

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Punjab National Bank puts up 11 NPAs for sale to recover Rs 1,234 crore in dues

The bank has asked the prospective bidders to expedite the process of due diligence, saying it will make all possible efforts to bring copies of documents at one place for verification.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/316dq1V

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SBI sought issuance of 147 Look Out Circulars in last 5 months pertaining to bank fraud cases

On October 12, 2018, the Home Ministry included Chairman, Chief Executive Officers and Managing Directors of public sector banks in the list of individuals who can seek issuance of Look Out Circulars against offenders to prevent their escape from the country, it said.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ZTF9S4

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Festive offer: Bank of India providing home loans at concessional rate, no processing charges

The bank has also launched an SME welcome offer, he said, adding, loans between Rs 50 and Rs 5 crore would be available at concessional rate depending on value of security.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ZYvolB

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12 PSU banks almost right to cater to aspirational India, says Finance Secretary

The cleaning up exercise undertaken by him has now started showing result with 14 out of 18 public sector banks posting profit in the first quarter of the current fiscal.

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18 public sector banks hit by 2,480 fraud cases of Rs 32,000 cr in Q1: RTI

A total of 2,480 cases of fraud involving a huge sum of Rs 31,898.63 crore rattled 18 public sector banks in the first quarter of this fiscal, an RTI

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PNB puts up for sale 11 NPA accounts to recover dues of Rs 1,234 crore

The lender has invited bids from asset reconstruction companies (ARCs)/ NBFCs/ banks/ financial institutions for 11 NPA accounts.

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PNB invites bids for 11 NPA accounts to recover dues of Rs 1,234 crore

State-owned Punjab National Bank (PNB) has put up for sale nearly a dozen non-performing assets (NPA) to recover dues of more than Rs 1,234 crore. T

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SBI sought issuance of 147 Look Out Circulars in last five month: RTI

The Finance Ministry transferred the application to the Home Ministry and Public Sector Banks to furnish the information.

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PSU debt raising through bonds gained, NBFCs faced challenge: Study

The loss of fund-raising capability through corporate debt bonds by non-banking financial companies (NBFCs) resulted in the gain for public sector f

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12 PSU banks almost right for India: Finance Secretary

Described the decision as a building block for achieving $5 trillion economy target

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SBI sought issuance of 147 look out circulars in bank fraud cases

The state-run bank provided the details in response to a RTI query for the last five months.

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Bank of India launches festive offer; waives loan processing charges

The bank has waived loan processing charges and will provide home loan at concessional rates, BoI general manager Salil Kumar Swain said.

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Bank of India launches festive offer; waives loan processing charges

State-owned Bank of India (BoI) under its festive offer for retail products is offering home loans at a concessional interest rate with no processing

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Traffic violations could soon increase your motor insurance premiums

IRDAI sets up working group to examine linking of motor insurance with traffic violations

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Andhra Bank launches Sovereign Gold Bonds 2019-20-Series-IV scheme

Andhra Bank has announced the opening of Sovereign Gold Bond Scheme 2019-20 Series-IV notified by Government of India for public subscription.The subs

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Equitas draws up scheme to list its SFB

The move follows RBI’s refusal to let EHL carry out a reverse merger with ESFB in order to fulfill the requirement of listing by September 4.

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Allahabad Bank’s bonds put on ‘rating watch evolving’

According to Fitch Ratings' rating definitions, Rating Watches indicate that there is a heightened probability of a rating change.

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Equitas draws up scheme to list its SFB

The move follows RBI’s refusal to let EHL carry out a reverse merger with ESFB in order to fulfill the requirement of listing by September 4.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/310B0gm

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Allahabad Bank’s bonds put on ‘rating watch evolving’

According to Fitch Ratings' rating definitions, Rating Watches indicate that there is a heightened probability of a rating change.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ZGnEcB

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Equitas draws up scheme to list its SFB

The move follows RBI’s refusal to let EHL carry out a reverse merger with ESFB in order to fulfill the requirement of listing by September 4.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/310B0gm

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Allahabad Bank’s bonds put on ‘rating watch evolving’

According to Fitch Ratings' rating definitions, Rating Watches indicate that there is a heightened probability of a rating change.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ZGnEcB

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Equitas draws up scheme to list its SFB

The move follows RBI’s refusal to let EHL carry out a reverse merger with ESFB in order to fulfill the requirement of listing by September 4.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/310B0gm

Read more »

Allahabad Bank’s bonds put on ‘rating watch evolving’

According to Fitch Ratings' rating definitions, Rating Watches indicate that there is a heightened probability of a rating change.

from The Financial ExpressBanking & Finance – The Financial Express https://ift.tt/2ZGnEcB

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