Reliance set to take over JBF Industries with CFM ARC
Bankers had sought takeover bids in July, and the Ahmedabad-based CFM ARC is understood to have put in a `825-crore bid for the company, which owes its lenders Rs 2,116 crore.
Banks look to resolve large assets even as NARCL gets set up
Some cases understood to be under consideration for transfer to the NARCL list are already undergoing insolvency proceedings such as Amtek Auto, Castex Technologies, JP Infra, Videocon Oil Ventures and Lavasa Corporation.
Bank loans to NBFCs grow slower as credit to small lenders dries up
Credit outstanding to non-bank lenders has been growing in the low single digits through much of the current year, with banks’ NBFC book actually shrinking 2.2% y-o-y in June 2021.
Industry view: Tokenisation circular modifications give banks more control over card data
The tokenisation or encryption of card data shall be done with explicit customer consent with an additional factor of authentication (AFA) validation by the card issuer.
Customer cash flows are better now, but not enough to clear all past dues, says Ramesh Iyer, vice-chairman & MD, Mahindra Finance
The weakness is on an overall basis, but if you look at markets most relevant from the perspective of cropping, like Maharashtra and Madhya Pradesh, they have got average-plus (rainfall), he said.
IDBI Bank-led consortium seeks EoIs to sell exposure to IVRCL road asset
IVRCL was among the companies named by the Reserve Bank of India (RBI) in 2017 in its second list of bad assets to be resolved under the insolvency code.
Indian Banks’ Association requests RBI to exempt govt accounts from current accounts circular
“The purpose of the circular is to prevent siphoning off funds given by banks. In the case of the government, that can hardly be considered a risk. That is why we have asked for an exemption,” the banker said.
Credit to large industry falls for eleventh month in a row
Last month, State Bank of India (SBI) chairman Dinesh Khara said sanctioned limits are still under-utilised to the extent of 25%. Similarly, banks with a significant presence in corporate lending, such as Bank of Baroda (BoB)
Home loan defaults: Demand, possession, auction notices on the rise as delinquencies climb
A similar trend of auction notices had been observed in the January-March quarter with respect to gold loans. Thereafter, most lenders with a sizeable gold loan portfolio reported a deterioration in asset quality in that segm
Banks take ‘buy now pay later’ route to grow customer base
Both strategies are aimed at analysing behavioural trends among the younger segment of the population, many of whom have been introduced to deferred payments through the BNPL route. Most of them do not have a credit card or a
Microfinance institutions look at new ways to boost collections
Lenders have now begun to team up with fintech players and payment gateway companies to digitise some aspects of the collection process. The aim here is to ensure repayments are not hurt even when group meetings cannot be hel
Credit shrinks less in second Covid wave due to localised lockdowns
In a report dated August 16, Nomura said that its India business resumption index (NIBRI) took less than three months to cross 100 after the second wave, whereas it had taken nearly 10 months to crawl back towards the 100-mar
Yes Bank scouts for partner to set up asset reconstruction firm
Bidders must have global experience in the distressed assets space, and a track record of turning around or resolving non-performing assets (NPAs), apart from satisfying the central bank’s ‘fit and proper’ criteria.
High stress: PSBs set aside over 60% of operating profit as provisions
Bankers say the first quarter saw stress mounting in the retail and small business segments as a result of the second Covid wave.
Lenders in talks with Future Group to find alternatives
Lenders had been hopeful of a takeover of the company by Reliance Retail before that date
‘We believe liquidity scenario should change in next few months’
Given the fact that there’s abundance of liquidity and pricing is under pressure on the corporate side, we have focused on growth on the retail side.
RBI monitoring stress in retail, MSME segments: Deputy governor MK Jain
The deputy governor pointed out that in the past, the central bank had advised all regulated entities to improve their provisions in the wake of Covid, and banks have heeded that call.
Our provision numbers will fall to just 2% of advances eventually: V Vaidyanathan, CEO, IDFC First Bank
A quarter ago, we brought down the interest rate on savings accounts from 6% to peak rate of 5%. Therefore, we have suddenly become competitive in the prime home loan segment.
Covid impact: Banks see slippages rise in cash collection-driven segments
Chairman Dinesh Khara attributed the high NPA ratio in gold loans to the inability of collection staff to reach borrowers amid mobility restrictions.
RBI’s current accounts circular faces scrutiny in Kerala HC
The circular mandated each bank to close current accounts of borrowers to whom the bank’s exposure was less than 10% of its total borrowings. The deadline for complying with the circular, which was aimed at preventing fraud
Rs 99,000-crore booster: Bumper dividend for govt from RBI
The Union government had budgeted a total Rs 1 lakh crore worth of earnings by way of total dividend from RBI and public-sector enterprises in FY22. The quantum of the RBI’s surplus transfer will likely ensure that the gove
We are heading towards gross NPAs of 2% on a sustainable basis: V Vaidyanathan, MD & CEO, IDFC First Bank
There is a lockdown-like situation in 20-odd cities of the country. Obviously, mobility is affected as are many businesses. The full impact of this on all players will show up only in the next one or two quarters.
Fintechs pick up MDR tab, enjoy merchant’s float
Industry sources said BharatPe and Paytm are among the companies offering this form of settlement. Emails sent to the two companies did not elicit responses till the time of going to press.
Loan recasts: Small borrowers get fresh relief from RBI
Individuals and small businesses with loans of up to Rs 25 crore who have never undergone restructuring before and who were classified as standard as on March 31, 2021, shall be eligible under the new scheme, titled resolutio
‘We will expand pan-India digitally’
At the moment our cost of funds is between 6 and 6.5% and we expect it to fall as more CASA (current account savings account) becomes available to the bank in terms of government and institutional deposits.
‘Data helped us expand borrower base in supplier finance segment’:
The use of data and analytics has enabled Citi to expand its borrower base in the supplier finance vertical in India, said Mridula Iyer, head - treasury & trade solutions (TTS), Citi South Asia.
Large Public Sector Banks speed up digitisation in the post-merger new normal
PSBs had a large customer base even before the mergers took place over the last few years, but the expansion in that base helps justify the cost of digitisation.
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