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Saturday, April 25, 2020

Have sufficient cashflow to meet repayment obligations, says Shriram Transport Finance MD

Shriram Transport Finance Company Ltd (STFC) on Saturday said it has taken a host of measures, including offering moratorium to its borrowers, and cos

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Covid-19: IRDAI asks insurers to refrain from divided payouts for FY20

As part of the financial prudence measures in the wake of Covid-19 pandemic, the insurance regulator has directed insurers not to pay dividend for th

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ICICI Prudential Life Insurance Q4 results: Net profit down 31 per cent

The company’s net profit for 2019-20 fell 6.3 per cent to ₹1,068.75 crore

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RBI extends Madhavan Menon's term as part-time Chairman of CSB Bank

CSB Bank on Saturday said the Reserve Bank of India has extended the term of appointment of Madhavan Menon as the part-time Chairman of the Bank till

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HDFC acquires 6.43 per cent stake in Reliance Capital

Mortgage lender HDFC on Saturday said it has acquired 6.43 per cent stake in debt-trapped Reliance Capital by invoking pledged shares. These shares

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Tax tribunal grants stay of demand, to enable builder to pay workers

A construction company, which during the Covid-19 pandemic, wanted to take care of its workers, support staff and employees and was unable to do so, because of an outstanding Income-tax (I-T) demand of Rs 2.91 crore, frozen bank accounts and attachment of its debtors has obtained a favourable order from the Income-tax Appellate Tribunal (ITAT).

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COVID-19: Bank of Baroda announces ex-gratia, health cover for biz correspondents

Bank of Baroda said to ensure maintenance of hygiene and safety, it is also providing additional support in tranches to keep the BC points sanitised and clean through sanitisers, disinfectants, use of masks and other measures.

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India Post delivers Rs 412 cr cash in doorstep banking revolution

The lockdown has set off a banking revolution. Irrespective of which bank you have an account with - in a city or a village without a branch - you can call the local post office and ask it to deliver cash.

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Forex kitty grows $3 billion to $480 billion on rising dollar, gold

ndia’s forex reserves rose by $3 billion during the week ended April 17 to $479.6 billion. Half the increase was because the value of gold held by the Reserve Bank of India (RBI) appreciated in dollar terms, while the other half came from an increase in the value of foreign currency assets, which rose to $441.9 billion.

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Loan moratorium: Lenders struggling to trace low-ticket retail borrowers

Financiers across the spectrum are struggling to trace low-ticket borrowers, about a fifth of their customers, through virtual means. Unless they can get hold of them, repayments stand automatically deferred.

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NBFC and MFIs’ funding gap to further increase to Rs 15k-25k crore: Acuité Ratings

However, if collections don’t revive rapidly for the NBFCs and MFIs in particular within this period, the liquidity challenges may continue and will necessitate longer term funding,” the firm said.

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Bank of Baroda to raise Rs 13,500 crore additional capital

The remaining Rs 4,500 crore will be raised by way of additional Tier-1 and Tier-2 capital instruments with an inter-changeability option, the bank said in the release.

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Friday, April 24, 2020

Fund-raise: Bank of Baroda gets nod

The board of Bank of Baroda (BoB) on Friday approved raising of funds up to ₹13,500 crore. The public sector bank is planning to raise these funds i

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CARE Ratings expects GDP growth at 1.1 pc in current financial year

Since the outbreak of the crisis, which has seen the country being put under a 40-day lockdown, watchers have been warning about a heavy toll on the economy, with some analysts also expecting the GDP to contract in 2020-21.

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Bank advances grow 7.2%, deposits rise 9.45% in fortnight ended April 10

In the fiscal ended March 31, 2020, bank loans had decelerated to 6.14 per cent, a near five-decade low, due to slower economic growth, lower demand and as banks remained risk averse.

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Utility bills, media, NGO donations see sharpspike in online transactions: Razorpay study

Utility bills, entertainment, NGO donations rise, while logistics, travel, food decline

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Indian banks' loans rise 7.2% in two weeks to April 10: RBI

Outstanding loans fell 315.62 billion rupees ($4.14 billion) to 103.39 trillion rupees in the fortnight. Non-food credit fell 338.72 billion rupees to 102.85 trillion rupees, while food credit climbed 23.10 billion rupees to 540.73 billion rupees.

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Covid-19: Karur Vysya Bank donates Rs 1 crore towards Tamil Nadu CM’s relief fund

Karur Vysya Bank has donated Rs one crore to Tamil Nadu Chief Minister’s Public Relief Fund to support the government’s initiatives towards preventio

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Axis Bank board to consider proposal to raise funds

Our BureauPrivate sector lender Axis Bank is looking to raise funds through debt. The board of the private sector lender will be meeting from April 27

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Sri Lanka to seek $400m financial facility from RBI

Sri Lanka is set to enter into an agreement with the Reserve Bank of India for a currency swap worth $400 million to boost the foreign reserves and ensure the financial stability of the country which is badly hit by the COVID-19 pandemic, a top minister has said. Cabinet approved the proposal, enabling RBI to meet short-term international liquidity requirements.

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Motor third party cover: IRDAI’s panel moots changes in fixing obligation of insurers

A working group formed by the Insurance Regulatory and Development Authority of India (IRDA) has suggested significant changes in fixing the obligatio

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NBFCs, MFIs to see ₹50-60K cr funding gap on lack of moratorium

The RBI may have to open direct liquidity window for small NBFCs and MFIs as banks refuse to offer moratorium to them on one hand, and gave a muted

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NBFCs, MFIs to see Rs 50-60k cr funding gap on lack of moratorium: Report

With the first targeted long-term repo operations (TLTRO) 2.0 failing fresh funding or refinancing to the sector from this route is unlikely to exceed Rs 10,000 crore unless there is a significant change in the banks' response in the second tranche, it said.

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Banks avoid NBFC lending, take 50% of RBI's refinance

Small non-banking finance companies continued to be shunned by banks, which availed only half of the Rs 25,000-crore refinance offered by the RBI for lending to NBFCs.

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Gold may zoom to Rs 82,000 per 10 gm by end 2021: Analysts

As stocks and bonds as investment avenues do not show much hope under current market conditions, gold could be the asset to put your money in. If analysts at Bank of America Securities (BofA Sec) are to be believed, gold prices in the international market could rally to $3,000 per ounce (Oz) by end 2021. Translated into Indian rates, that could be about Rs 82,000/10 grams at current exchange rates.

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'India stares at recession for 1st time in 40 yrs'

A report by Axis Bank has said that India would go into recession in FY21 – the first time in 40 years because of the lockdown to prevent the spread of Covid-19. The report has forecast that the gross domestic product will decline by 1.7% led mainly by a steep contraction in manufacturing, and trade transport and communication.

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Banks avoid NBFC lending, take 50% of RBI’s refinance

Small non-banking finance companies continued to be shunned by banks, which availed only half of the Rs 25,000-crore refinance offered by the RBI for lending to NBFCs. This was despite the RBI’s attempt to improve the market for long-term bonds.

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RBI's liquidity window through SIDBI may be a non-starter

In the wake of the Covid-19 pandemic, the RBI provided a special facility of Rs 15,000 crore to Sidbi to provide liquidity support to the MSME sector through banks, NBFCs and MFIs. Tightening of financial conditions in the wake of the pandemic has made it difficult for these institutions to raise resources from the market.

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DMI Finance raises $123M from South Korea’s NXC

DMI Finance has raised $123 million from South Korea-based NXC Corporation, valuing the Delhi-based non-bank finance company founded by two former Wall Street bankers at over $1 billion, according to a source. Total equity funding raised by DMI since inception is $800 milion.

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Thursday, April 23, 2020

Sidbi launches special liquidity scheme for MSMEs

The Small Industries Development Bank of India on Thursday launched a special liquidity scheme for Micro, Small and Medium Enterprises (MSMEs) through

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Trumps plan to halt H-1B visa may come under review

K GiriprakashThe US Government’s decision to pause entry of immigrants for the next 60 days exempts all visa programmes, including H-1B, but is liable

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Ujjivan SFB ranked 5th among ‘Best Large Workplaces’

Ujjivan Small Finance Bank has been ranked 5th among ‘Best Large Workplaces in Asia 2020’ by the Great Place To Work Institute. In 2019, Ujjivan SFB w

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RBI allows banks to issue electronic cards to overdraft account customers

The Reserve Bank of India (RBI) has permitted scheduled commercial banks to issue electronic cards to customers having overdraft accounts that are onl

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RBI's liquidity plan for non-bank lenders falters

"Given the lack of risk appetite in banks, a structure with partial credit guarantee by the government maybe the only viable option to ease liquidity challenges of NBFCs," said Vydianathan Ramaswamy, Director, Ratings, Brickwork Ratings.

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India pushes lending, asks banks for daily reports

The finance ministry, in a letter dated April 17, asked banks to furnish detailed data on new loans, including particulars on what sectors were getting them.The push comes after a recent 75 basis point rate cut by the RBI, and at a time when the banking system is flush with liquidity pumped in by the RBI to spur new lending and revive flagging growth.

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RBI gets muted response to TLTRO 2.0 auction

The Reserve Bank of India (RBI) got lukewarm response from banks for availing three-year liquidity at the maiden auction on Thursday under the Targete

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Federal Bank, Kotak Mahindra, IDFC reduce stake in Yes Bank

Of the eight financial intermediaries who invested last month in a dramatic rescue of Yes Bank, three -- Federal Bank, Kotak Mahindra Bank and IDFC Fi

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TLTRO 2.0: Reserve Bank gets lukewarm response from banks

Our BureauThe Reserve Bank of India (RBI) got lukewarm response from banks for availing three-year liquidity at the maiden auction on Thursday under t

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HDFC Bank introduces mobile ATMs in Kolkata

All necessary precautions in terms of maintaining social distancing and sanitisation are being taken to ensure health safety of staff and customers at these facilities.

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SBI Cards & Payment Services reports outstanding borrowing at Rs 17,363 cr at FY20-end

The credit card company, promoted by the country's largest lender SBI, said the borrowings at the end of the previous fiscal were provisional and subject to audit.

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Small, midsize MFIs look for unused credit limit to tide over liquidity crunch

Unused approved credit lines, which were not disbursed in the last financial year by the banks due the lockdown, are expected to be extended to MFIs, P Satish, executive director of Sa-Dhan, a self-regulatory organisation of the industry, said.

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India will slip into recession for the first time in 40 years: Axis Bank

A report by Axis Bank has said that India would go into recession in FY21 – the first time in 40 years because of the lockdown to prevent the spread of Covid-19. The report has forecast that the gross domestic product will decline by 1.7% led mainly by a steep contraction in manufacturing, and trade transport and communication.

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Bajaj Allianz Life to focus on digital tech to be future ready

Digital training of agency force, product mix reorientation among key strategies

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Despite drop in transaction volumes, fintech platforms in India see surge in new users

They go the extra mile to simplify on-boarding processes

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RBI to conduct OMO to adjust yield curve

The Reserve Bank of India (RBI) has decided to conduct simultaneous purchase of government securities (G-Secs) maturing in 6-10 years and sale of sec

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Liquidity troubles for NBFC-MFIs may continue, says ICRA

Securitisation volumes likely to decline in FY 20-21

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Bajaj Allianz launches ‘BAGIC GOQii Co-pay Option’ under regulatory sandbox

 Bajaj Allianz General Insurance, along with smart-tech enabled preventive healthcare platform GOQii has launched a new add-on health cover called ‘BA

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SBI Cards reports outstanding borrowing at ₹17,363 cr at FY20-end

SBI Cards and Payment Services has reported outstanding borrowings worth ₹17,362.86 crore as on March 31, 2020.The company had the highest credit rati

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SBI Cards reports outstanding borrowing at Rs 17,363 cr at FY20-end

The company had the highest credit rating during the previous fiscal year ended March 2020 with AAA/ Stable rating by Crisil and ICRA, it said in a regulatory filing on Wednesday. The credit card company, promoted by the country's largest lender SBI, said the borrowings at the end of the previous fiscal were provisional and subject to audit.

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LIC Housing slashes home loan rate by 60 bps for customers with credit score of 800

LIC Housing Finance Ltd (LICHFL) has reduced interest rates for new individual customers having credit score of 800 or more to 7.50 per cent from 8.10

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Banks begin to offer moratorium to shadow lenders

NBFCs, HFCs say public sector lenders are extending the facility

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Remittances to India may decline by 23%: World Bank

As a result of the deadly coronavirus pandemic, which has resulted in a global recession, remittances to India are likely to drop by 23 per cent from $83 billion last year to $64 billion this year, the World Bank has said. Globally remittances are projected to decline sharply by about 20 per cent this year due to the economic crisis induced by the COVID-19 pandemic and shutdown.

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COVID-19 emergency credit: SBI disburses Rs 1,000 crore, Bank of Baroda Rs 606 crore

Experts say more borrowers are likely to line up for emergency credit from banks as many businesses will be hit by the slump in demand and zero footfall in the market in the wake of the pandemic.

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View: A rescue raft for sinking NBFCs

Until now, practices relating to critical areas such as classification and recognition of non-performing loans (NPLs), accounting for securitisation transactions, investment classification and valuation, were primarily driven by RBI regulations.

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Wednesday, April 22, 2020

Yes Bank scam: Wadhawan brothers seek protection from arrest

The Wadhawan brothers are accused in the YES Bank-DHFL fraud cases. The DHFL (Dewan Housing Finance Limited) group has a loan amount of about Rs 3,700 crore taken from Yes Bank that is under "stress".

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Non-scheduled UCBs should also get credit guarantee cover for loans given to MSEs, NAFUCB tells FM

K Ram KumarThe National Federation of Urban Co-operative Banks and Credit Societies (NAFCUB) has urged Finance Minister Nirmala Sitharaman that non-sc

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Kotak Mahindra Bank plans share sale to raise ₹7,500 crore

Private sector lender Kotak Mahindra Bank is set to raise about ₹7,500 crore, with its board approving a proposal to raise equity capital by the iss

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Deposits in Jan Dhan accounts surge in first week of April

The deposits in Jan Dhan accounts saw a sudden surge in the first week of April, mainly due to the central government transferring money into such ac

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IOB launches working capital demand loan for agri sector

Bank accounts that are ‘standard’ and ‘performing’ eligible for facility

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Home loan refinancing, a viable option for NRIs during Covid-19 crisis

As economies, personal finances, are affected globally due to the Covid-19 crisis, for NRIs, home loan refinancing is the most viable option.“NRIs may

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COVID-19: Govt asks major ports to defer rentals, waive charges, penalty in view of EXIM cargo drop

In a letter, the shipping ministry has asked the ports to provide relief in the form of exemptions/ remission of charges to the shipping liners, exporters, importers, logistics providers and other stakeholders hit by the coronavirus outbreak. The relief measures are aimed at boosting EXIM cargo by supporting and rebuilding the logistics chain.

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India’s path out of pandemic slump hobbled by shadow bank crisis

For the financial sector, the coronavirus freeze is just the latest headwind in a multi-year storm that’s dragged down consumption and seen the nation lose its crown as the world’s fastest-growing major economy. Now, if bad loans rise as many including the central bank expect, banks and shadow lenders are set to become ever more cautious just when credit is most needed to keep the economy going.

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Crisil posts 15% rise in PAT in Q1

Crisil registered a 15 per cent increase in profit after tax (PAT) at ₹88.1 crore for the quarter ended March 31, 2020, against ₹76.6 crore in the cor

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Kotak Mahindra Bank to issue 6.5 crore equity shares

The board of private sector lender Kotak Mahindra Bank has approved a proposal to issue 6.5 crore equity shares of ₹5 each as part of its plans to ra

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Focus on survival and stability this year, look for growth in the next: Srei Infra chief

Businesses across sectors should focus on “survival and stability” during the course of the current financial year. Once they are able to survive and

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India’s path out of pandemic slump hobbled by shadow bank crisis

The bad loan mess is getting in the way of monetary policy too, as banks hold back from passing on the bulk of the 210 basis points of interest rate cuts that the central bank undertook from February last year.

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Banks readying debt recast for Covid-hit companies

The IBA plan is to give the companies more time to pay back loans by extending the moratorium and in some cases extending the tenure of term loans. For working capital loans that are short term, the interest payment period could be extended to three years.

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April 23 Auction: PSL breather for TLTRO 2.0

Vydianathan Ramaswamy, director, ratings at Brickwork Ratings, said that the extension of deployment period to 45 days gives banks a better lead time to lend to a wider set of non-banks.

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Tuesday, April 21, 2020

Crisil re-affirms Chaitanya India bank loan rating at ‘A-/Stable’

Our BureauCrisil has reaffirmed Chaitanya India Fin Credit Pvt Ltd’s (CIFCPL) ‘A-/Stable’ rating on its bank loan facilities of ₹500 crore (enhanced f

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RBI 3-month EMI moratorium could provide Rs 2.1 lakh cr liquidity to companies

It said sectors with higher leverage, such as power, telecom, roads, textiles and fertilisers, will be the major beneficiaries and account for nearly 47 per cent of the total breather available.

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Loan moratorium may haunt banks even after getting lifted; Moody’s explains post moratorium credit landscape

The loan moratorium, as suggested by the Reserve Bank of India (RBI) last month and subsequently implemented by various lenders across the country, might be able to provide some temporary relief for now but could also play a hand in changing the credit landscape of the banking sector.

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ICICI Bank taking ‘due steps’ to protect interests in Singapore’s HLT

ICICI Bank, on Tuesday, confirmed its exposure to troubled Singapore oil-trading company Hin Leong Trading Pte Ltd, and said it is taking “due steps”

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Paytm Payments Bank crosses Rs 1000 crore in deposits

Paytm Payments Bank Ltd (PPBL) has crossed Rs 1,000 crore in deposits from over a 57 million savings account holders. With more people embracing digit

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IRDAI allows payment of health cover premium in instalments

The Insurance Regulatory and Development Authority of India (IRDAI) has allowed the payment of health insurance premiums in instalments. “In view of p

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ICICI Bank confirms exposure to troubled oil trader Hin Leong

"We confirm that the Bank, in the normal course of its business, has exposure to the borrower group in question, is taking due steps to protect its interests, and will appropriately reflect the same in its financial statements, as it would do in respect of all its banking exposures," ICICI said in a stock exchange filing.

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RBI extends time period to deploy funds raised by banks under TLTRO 2.0

Our BureauThe Reserve Bank of India (RBI) has extended the time available for banks to deploy funds under the targeted long- term repo operation 2.0 (

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ICICI Bank says taking ‘due steps’ to protect interests in Singapore’s HLT

The bank was asked for a clarification on the issue by stock exchanges reports of its $100 million exposure to HLT.

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SBI distributes 5,000 cloth masks to healthcare workers, police in Nanjangud, Tumakuru

State Bank of India has distributed 5,000 cloth masks for use by healthcare workers and police in Mysuru and Tumakuru districts.The bank distributed 2

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COVID-19: Moody's says loan moratorium may lead to greater build-up of credit losses for banks

The loan moratorium extended by banking regulators in countries like India and China to deal with the liquidity crunch amid COVID-19 crisis will provide temporary relief to borrowers, but will constrain banks from taking proactive recovery actions.

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City Union Bank gets RBI nod for reappointing MD&CEO

It said Kamakodi's reappointment is for a further period of three years with effect from May 1, 2020.

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No penal interest on farm loan dues in moratorium; RBI extends interest subvention benefit to farmers

RBI said that the farmers do not have to pay penal interest and at the same time they will continue getting the benefits of the interest subvention scheme. 

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Lockdown: How RBI can help revive economy

The Reserve Bank of India has a number of policy options to draw upon to cushion the economic blow from the coronavirus pandemic. With a limited fiscal response so far, the RBI has provided some virus relief to the economy but analysts say these areas need to be addressed further like rate cuts, deficit financing, bond purchases, corporate debt and looser rules.

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Singapore’s Caladium Investment hikes stake in Bandhan Bank

Caladium Investments, an affiliate of Singapore’s GIC, has increased its stake in private sector lender Bandhan Bank to 4.49 per cent as on March 31,

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RBI gives nod to Kamakodi’s reappointment as MD & CEO of City Union Bank

The Reserve Bank of India has given its approval for the re-appointment of N Kamakodi as MD & CEO of City Union Bank (CUB) for three years with ef

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RBI stipulation on deployment of funds may affect bidding under TLTRO 2.0, say Ind-Ra

TLTRO 2.0 is aimed at channelling liquidity to small and mid-sized corporates, including NBFCs and MFIs, that have been impacted by Covid-19 disruptions

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UPI transactions drop in March, RTGS shoots up due to lockdown

Unified Payments Interface (UPI) is an instant payment system developed by the National Payments Corporation of India. UPI is built over the IMPS infrastructure and allows one to instantly transfer money to any bank account. According to the data, the volume of UPI transactions in March slipped to 124.68 crore from 132.57 crore in February.

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In tough times, it's tougher to live on credit

Some banks are reducing credit card and personal loan limits, tightening loans to small businesses. RBI data shows credit card outstanding amount reached an all-time high of Rs 1.1 lakh crore at end of February, up nearly 26% over last year.

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How digi-lenders are bracing for Covid impact

From tightening collection schedules to lowering credit limits, narrowing customer base to only include “super-prime” borrowers and hot-listing companies that may retrench employees, small online lenders are taking all possible precautions to stay afloat in the coming months.

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RBI asks UCBs provisioning on interbank exposure under all-inclusive directions

The Reserve Bank of India (RBI) has asked urban co-operative banks (UCBs) having inter-bank deposits with a UCB under all-inclusive directions (AID) t

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HC order on Indiabulls NCD dues puts MFs in tight spot

The HC has granted Indiabulls, a non-banking financial company (NBFC), the permission to not pay its debenture holders, including fund houses, interest and principal as long as the RBI allows banks and NBFCs to offer moratorium to their borrowers. Fund managers now fear that other NBFCs may take the same route and not pay MFs for the next few weeks.

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Disappointed, but will continue legal fight against extradition: Vijay Mallya

The 64-year-old former Kingfisher Airlines boss reiterated that he has repeatedly offered to pay the Indian banks the loan amount owed by his now-defunct airline, an offer which the banks have rejected.

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Kotak Mahindra Bank may raise Rs 8,000 crore via equity dilution

Market is viewing the fund-raising announcement in a positive light as the lender’s move to build up capital reserves is being seen as a sensible move at a time of uncertainty.

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Monday, April 20, 2020

Non-bank lenders seek to tap unused credit lines to manage liquidity

They are seeking the unused sanctioned limits even though they have not fully disbursed the funds lying with them. This is because the halt in repayment collection has dried up their cash flows, even as they haven’t received any moratorium from most banks.

from Banking/Finance-Industry-Economic Times https://ift.tt/2RQ9iAA
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ICICI Bank sends notice to Ocean Tankers to impound 2 vessels

ICICI Bank has issued notices to impound two vessels operated by Ocean Tankers (Pte) Ltd, a unit of the troubled Singapore oil-trading company Hin L

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RBI raises WMA limit to ₹2-lakh crore in H1 FY21

To tide over the situation arising from the outbreak of Covid-19 pandemic, the Reserve Bank of India (RBI), in consultation with the Government of In

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Beware of cyber frauds in insurance: IRDAI

Our BureauThe Insurance Regulatory and Development Authority of India (IRDAI) has cautioned the general public about cyber fraudsters in insurance. “T

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Fintech-led NBFCs could face tough time in FY21: India Ratings

Our BureauSmall fintech-led non-bank financial companies (NBFCs) could be in for greater trouble in the current fiscal due to business disruptions fr

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Credit growth of housing finance companies to be lower at 9-12% in FY21: ICRA

The credit growth of housing finance companies (HFCs) is likely to be lower at 9 to 12 per cent in FY21, vis-a-vis last three years’ compounded annual

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Monetary Policy Committee to meet 5 times this fiscal

The rate-setting Monetary Policy Committee (MPC) will be meeting five times in FY21, against seven in FY20.Usually, the MPC meets six times a year. B

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Fintech-led NBFCs could face tough times in FY21: Ind-Ra

Small, fintech led non-bank financial companies (NBFCs) could be in for greater trouble in the current fiscal due to the business disruptions from the

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Small finance banks may get breather from RBI on listing

K Ram KumarWith the economy and financial markets thrown into turmoil due to Covid-19 outbreak, the Reserve Bank of India (RBI) may allow small financ

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ICICI Bank launches voice banking services on Amazon Alexa, Google Assistant

This novel facility offers customers yet another way to connect with their bank from home at a time when they are advised to stay indoors in the wake of the nationwide lockdown, ICICI Bank said in a release.

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How RBI decision to withhold dividend payout could help banks conserve capital

15 banks paid over ₹7,164 crore as dividend for FY19

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Why RBI’s liquidity measures for NBFCs may not reach last-mile rural borrowers

Chunk of mid, small NBFCs do not enjoy investment-grade rating, which leaves them out of the ambit of TLTRO

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Cash loses, digital transactions win: More people go online to transfer money in March: RBI data

Digital transactions have gained new heights in the month of March as India announced a lockdown due to coronavirus. The total value of Real Time Gross Settlement (RTGS) transactions also witnessed a spike.

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HDFC Bank posts robust Q4 results, but cautions on road ahead

Over 95% of retail customers who took moratorium availed it as caution

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Telangana Grameena Bank’s FY20 net profit surges to ₹172 crore

Telangana Grameena Bank’s net profit increased manifold at ₹172 crore in the financial year ended March 31, 2020 as against ₹43 crore in the previous

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China cuts key rate for second time this year, more easing likely

It signals “counter-cyclical relaxation” in housing sector

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Microfinance firms in turmoil as collections come to a grinding halt

RBI’s liquidity measures may offer respite, but will banks buy bonds of small, medium MFIs?

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How Aviva India is going digital for business continuity

The company is using innovative tech solutions to engage with customers

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HDFC Bank's assets to show minimal signs of Covid stress

As India’s most valuable lender held a call with analysts after announcing quarterly earnings, the focus was on the MSME exposure, and a stress test at the lender showed that 9% of this portfolio is vulnerable, likely leading to a maximum impact of 50 basis points on the bank’s asset quality.

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Sunday, April 19, 2020

Here's how non-bank lenders plan to raise money

RBI has planned a Rs 50,000-crore liquidity infusion through TLTRO 2.0 with a direction to banks to invest at least half of it into “investment-grade” commercial papers or bonds issued by smaller non-bank lenders, including microfinance firms.

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Kotak Mahindra Bank board to consider fundraising proposal this week

In a recent report, global ratings agency Standard & Poor's had said Kotak Mahnidra Bank can weather the challenges that will be posed by the infections and affirmed its rating on the lender.

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Govt-backed credit guarantee needed to ensure banks overcome risk averseness while lending: CII

To tackle the current crisis arisen from the COVID-19 outbreak and the consequent nationwide lockdown, the government and the RBI have announced many measures to ease the stress of businesses. 

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Kotak Mahindra Bank cuts savings account interest rate; effective from April 20

Kotak Mahindra Bank, which has revised interest rate on daily balances in savings account multiple times over the past year or so, has again made a change.

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Moratorium: 10% provisioning may shave Rs 35,000 cr off bank profits

The Reserve Bank of India's directive asking banks to make 10 per cent provisions on all moratorium loans will shave at least Rs 35,000 crore off their profitability in financial years 2019-20 and 2020-21, according to a report.

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Moratorium: 10 per cent provisioning may shave Rs 35,000 crore off bank profits

The new provisioning requirement has to be made for the March and June 2020 quarters and this will impact their profitability in 2019-20 and 2020-21.

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Moratorium: 10 per cent provisioning may shave Rs 35,000 crore off bank profits

The Reserve Bank of India’s (RBI) directive asking banks to make 10 per cent provisions on all moratorium loans will shave at least Rs 35,000 crore

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Muthootu Mini to re-open its branches tomorrow

Muthoottu Mini Financiers Ltd will re-open all the branches across Kerala from Monday. The company will resume all services strictly in accordance wit

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RBI measures for NBFCs unlikely to boost credit flow to broader economy: Moody’s

The RBI announced the liquidity facility under the TLTRO 2.0 window for NBFCs and MFIs after these institutions failed to get funding under the earlier TLTRO scheme announced late in March.

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FinMin asks PSBs to ensure timely credit for businesses

State-owned banks asked to set processing-to-disbursement time frames for various segments

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HDFC Bank Q4: Steady performance, but early signs of Covid-led disruption evident

It recorded ₹450-crore impact on other income due to the crisis

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HDFC Bank: Net up 18%, names for new CMD decided

The bank saw the fallout of the lockdown in the second half of March, with loan origination and cross-selling of other products slowing down, the management said.

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S&P affirms HDFC Bank rating

S&P Global Ratings on Saturday affirmed HDFC Bank’s issuer credit rating at BBB-/Stable/A-3 and senior unsecured rating at BBB-, adding that the lender’s rating will move in tandem with that of the sovereign.

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