Shritama Bose

Worry over slippages: Private banks’ provisions rise 13% in FY19

Banks may be apprehending larger slippages in the quarters ahead, with provisions made by a clutch of private sector banks during FY19 rising nearly 13% year-on-year (y-o-y), even as the value of gross non-performing assets (

The value of provisions made by the 16 private sector banks that have so far reported their March quarter results stood at Rs 54,447 crore in FY19 News

Lenders seek bids for Coastal Energen with more than Rs 7,000 crore in debt

The State Bank of India (SBI)-led consortium of lenders to Coastal Energen, which owes them Rs 8,176 crore, on Monday sought bids for the stressed power plant from companies, funds and private equity investors.

Lenders seek bids for Coastal Energen with more than Rs 7,000 crore in debt News

Slow but steady, UPI may win the race against card payments, net banking

An analysis by Razorpay of all kinds of transactions on its gateway shows consumers tend to opt for netbanking over UPI and wallets for larger payments.

UPI, card payments, net banking, credit cards,  netbanking transfers, Razorpay, UPI platform, P2M transactions News

Digital transactions: Paytm leads payment banks in volumes game

For payments banks, 2018-19 turned out to be an important milestone. It was when they joined the ranks of the top 10 mobile-banking players, matching them in volumes.

Industry News

HDFC puts Jet Airways’ BKC office on the block

The sale process was initiated after the now-grounded airline failed to repay Rs 415 crore of dues, in addition to interest and other charges, owed to the mortgage financier.

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Choppy waters: Fears of NBFC defaults intensify amid liquidity crunch

DHFL said it has repaid interest and principal worth a total `838.47 crore on non-convertible debentures (NCDs) issued on private placement basis.

Markets News

HDFC Bank struggles with farm loan portfolio for the third year

The consistently high share of agri loans in HDFC Bank’s slippages has led some of them to expect a policy on write-offs for such loans.

HDFC Bank, HDFC Bank agri-loan portfolio, Sashidhar Jagdishan, NPA, RBL Bank News

Paytm Payments Bank’s mobile banking share slips to 18% in February

Traditional banks continue to dominate the market in terms of transaction value, though here, too, there has been a reshuffle in rankings.

paytm, hdfc, hdfc bank, banking sector, banking industry News

Cashing out: Central Bank to sell two NPAs worth Rs 251 crore

The bank is one of the five lenders who continue to remain under the Reserve Bank’s PCA framework.

central bank, cenrral bank of india, marlets, stock markets, banking sector, banking industry News

Retail loan growth slows as consumption, auto sales fall

Growth in banks' retail loan portfolios have been on a downward trend since November 2018 amid slowing consumption demand and falling auto sales, showed data from the Reserve Bank of India (RBI).

Retail loan growth slows as consumption, auto sales fall News

UPIs outscore wallets às KYC norms, Google Pay tilt scales

With 674 million transactions worth Rs 1.07 lakh crore during February, UPI stood head and shoulders above mobile wallets, which together clocked 345 million transactions worth Rs 14,279 crore during the same month.

UPI February volume nearly twice that of wallet volume (Representational image) News

SBI puts Rs 8,453-crore bad loans up for sale in Q4

A loan account that has remained in NPA category for 5 years must be classified as a doubtful III account and fully provided for, as per RBI.

Banking & Finance News

IDBI Bank to hire around 950 after LIC takeover

IDBI Bank has called for applications for nearly 950 positions, many of them in specialised roles, after the bank was taken over by Life Insurance Corporation (LIC) of India.

Banking & Finance News

UPI took a little tie but it has arrived

In August 2018, the National Payments Corporation of India (NPCI), its parent, launched an upgraded version of the UPI with a bank account-to-bank account payment feature that allowed money to be transferred using nothing mor

UPI, UPI payments, Google Pay, Tez, National Payments Corporation of India, NPCI, market News

NPA crisis: PSU banks’ recoveries less than write-offs in October-December this fiscal

A clutch of banks together recovered Rs 35,058 crore while writing off loans worth Rs 44,998 crore.

Banking & Finance News

IDBI Bank goes for operational rejig after LIC deal

It intends to shift focus from corporate lending to retail, and aspires to raise share of retail banking portfolio to 70% from 50% at present in 5 years

Operational rejig: IDBI Bank seeks bids from consultants News

SBI’s NBFC loan purchases at just Rs 17,000 crore so far, unlikely to meet full-year target

State Bank of India (SBI) has bought loan pools worth only about Rs 17,000 crore so far in FY19 from non-banking financial companies (NBFCs), against the stated target of Rs 45,000 crore, sources told FE.

SBI’s NBFC loan purchases at just Rs 17,000 cr so far News

PWC invites resolution plans for Essar Power MP on behalf of ICICI Bank

The lending consortium has appointed PwC as advisers to run the bid process and to invite resolution plans from investors.

pwc, icici bank, nclt News

BoB-led consortium puts Rs 2,311 crore Garden Mills loan up for sale

A consortium of lenders led by Bank of Baroda (BoB) has put on sale their exposure to Garden Silk Mills on a 100% cash basis, according to a bid document. As on February 21, the company owed Rs 2,311 crore to banks. All bank

bank of baroda garden mills, banking sector, banking industry News

Confident about some of the NBFCs, says HSBC India Head – Commercial Banking

Breaking into a consortium to lend to a good company in India is not just tough because of a surfeit of banks, but also time-consuming, Rajat Verma, head – commercial banking, HSBC India says.

hsbc, banking sector, banking industry News

Cash recovery: Banks open to big haircuts as they rush to sell bad loans before March-end

Both assets were named on the Reserve Bank of India's (RBI) first list of large non-performing assets (NPAs).

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Aadhaar seeding: NPCI working on platform to enable banks to check status via AePS

The NPCI is working on a platform to enable banks to check the Aadhaar seeding status of a customer on their behalf through Aadhaar-enabled Payment System (AePS).

Aadhaar Card News

IDBI Bank seeks bids for Lanco Solar (Gujarat) plant

Last month, banks met to discuss seven-eight projects and arrive at a final resolution with regard to Jaiprakash Associates-promoted Prayagraj Power Generation Company’s 1,980 MW Bara unit and SKS Chhattisgarh’s 1,200 MW

Banking & Finance News

Loans to NBFCs become costlier as RBI tightens norms

The Reserve Bank of India (RBI) on Friday stepped in to slow the flow of credit flow to non-banking financial companies (NBFCs) by making it more expensive for banks to lend to them.

RBI tightens risk-weight norms, loans to NBFCs become costlier News

Bad loans: SBI writes off Rs 10,000 cr; total by 19 PSU banks at Rs 41,000 cr

Vijaya Bank saw the steepest increase in write-offs — 243 times y-o-y to Rs 487 crore in Q3FY19. This was followed by IDBI Bank, which saw a 4,783% y-o-y rise in write-offs to Rs 562 crore in Q3FY19.

Bad loans: 19 PSBs write off nearly Rs 41,000 crore in Q3 News

Digital payments: Small shops get banks’ backing for lower UPI charges

If proposal accepted, eligible merchants will not need to shell out MDR or fee charged by banks for offering payment acceptance.

rbi, banks, digital payments News

Bank of India sells exposures to three large accounts

Bank of India (BoI) sold its exposures to three large accounts — Alok Industries, Asian Colour Coated Ispat and ISMT — during the quarter ended December with haircuts ranging between 64% and 84%.

Markets News
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