Shritama Bose
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We are looking at 25-30% growth in the unsecured segment, says Arvind Kapil of HDFC Bank
It will mirror the industry. There are all early signs of green shoots in the economy, showing that it should go up. So if capital investment goes up, then homes should see an upward trend. Growth should be around 18-20% for the industry.
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Lanco Teesta RP invites EoI from bidders
The resolution professional (RP) for Lanco Teesta Hydro Power on Friday invited expressions of interest (EoIs) for the company from interested bidders under the corporate insolvency resolution process (CIRP).
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IBA to hire agency to monitor PSBs for EASE
The Indian Banks’ Association (IBA) on Thursday invited bids for the appointment of a consulting firm to assess the implementation of the government’s Enhanced Access and Service Excellence (EASE) programme for public-sector banks (PSBs).
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Delinquency between 2.2% and 2.3% on par with industry, says MD & CEO of SBI Card
SBI Card, while growing at around 40% over the last few years, has maintained delinquencies between 2.2% and 2.3%, managing director & CEO Hardayal Prasad tells Shritama Bose.
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Axis Bank puts Jhabua Power plant on block
Axis Bank has put on sale a 600-megawatt (MW) thermal power plant in Madhya Pradesh set up by the Avantha Group-owned Jhabua Power, according to sources.
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IDBI Bank to sell 2.5% stake in CCIL
IDBI Bank has put on sale its remaining 2.5% stake in the Clearing Corporation of India (CCIL), according to a public notice.
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UPI too nascent to compute market share, says MD & CEO of NPCI
While the Unified Payments Interface (UPI) may not be witnessing exponential growth like earlier, it continues to add two million users per month, Dilip Asbe, managing director and CEO, National Payments Corporation of India (NPCI), told Shritama Bose during an interview.
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We’re looking at 75-80% of our assets being financed by deposits in FY19, says MD of Ujjivan Financial Services
The microfinance institution (MFI)-turned-small finance bank is looking at financing 75-80% of its assets out of deposits in FY19.
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We will see 50% revenue growth in FY19, says MD of Fino Payments Bank
The bank will see a 50% growth in revenues in FY19 and expects to break even in another two years, he adds.
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SWIFT India to help automate domestic banking transactions, says Alain Raes
We went live with this about four years ago. We do have data centres now in India. We have about 27 clients now. We have five of the largest Indian corporates, the likes of TCS, Infosys, Mahindra & Mahindra, also on board, said Alain Raes.
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High demand: NBFCs took 40% of all new corporate loans by banks
Bank loans outstanding to corporates rose 6% year-on-year (y-o-y) to Rs 47.5 lakh crore on March 30, 2018. The quantum of increase was Rs 2.68 lakh crore, of which Rs 1.05 lakh crore, or 39.3%, were loans to NBFCs. Among all sectors in industry and services, NBFCs also saw the steepest jump in loans outstanding, growing 27% y-o-y.
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Our cost of borrowings will fall another 100 bps this year, says MD & CEO of AU Small Finance Bank
The transition to a bank has resulted in a 110-basis point (bps) drop in AU Small Finance Bank’s cost of funds, managing director and chief executive officer Sanjay Agarwal told Shritama Bose.
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‘Our forecast is a 50-60 bps increase in interest rates’, says Ramesh Iyer, Vice-Chairman and MD of Mahindra Finance
The provisions have substantially reduced and that has added to profit. There’s no doubt about it. The second is also that we have been able to maintain and retain our net interest margin, said Ramesh Iyer, Mahindra Finance Vice-Chairman and MD.
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No priority-sector status to low-cost housing loans: RBI
Banks are considering sending a written proposal to RBI to present their case!
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Banks scale back PoS networks by up to 33pct
State Bank of India (SBI), HDFC Bank and ICICI Bank saw the number of POS terminals deployed fall by 0.4%, 0.9% and 4.5%, respectively, over the two-month period.
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Making advances: At a quarter of all loans, retail lending hits an all-time high
Retail loans now account for a fourth of all loans, an all-time high.
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API disabled: Fintechs lose access to key eKYC system
The Unique Identification Authority of India (UIDAI) has effectively shut out several fintech players from carrying out Aadhaar-based eKYC through entities who use sub-AUA (authentication user agency) licences.
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CBI probing 292 fraud cases in 44 banks: Govt
The Central Bureau of Investigation (CBI) is probing 292 cases of scams and frauds involving 44 banks, according to a reply by minister of state for finance Shiv Pratap Shukla to a Rajya Sabha question.
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Delinquencies in affordable housing loans have gone down, says Deputy MD of Indiabulls Housing Finance
Home loan rates are likely to rise, Ashwini Kumar Hooda, deputy managing director, Indiabulls Housing Finance points out that delinquencies in affordable housing are high only in the lowest loan brackets and the Rs 15-35-lakh bracket has seen delinquencies fall.
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Punjab National Bank: Not collated data on one-time settlement scheme recoveries
Punjab National Bank (PNB), the country’s second-largest public sector bank, has said it has not been collating data on recoveries made under its one-time settlement (OTS) scheme for small-ticket loans.
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MFIs’ cost of funds falls in FY18
Contrary to most financial firms, microfinance institutions (MFIs) have seen their borrowing costs drop in the last three quarters as the conversion of a number of top MFIs into small finance banks (SFBs) helped free up bank funding.
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Cycle reversal: Bucking trend, interest rates on fresh loans tend to stabilise
Signalling a decisive reversal in the rate cycle, interest rates on fresh loans have stabilised in recent months. This is a departure from much of 2016 and the first half of 2017, when they were on a downward spiral.
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Nearly 2% of Jan Dhan accounts closed since its launch in 2014
In its initial years, PMJDY had come in for criticism on the grounds that while it led to the opening of bank accounts for a large number of financially-excluded people, and brought them into the banking fold, many of these accounts are dormant.
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Digital India: How UPI-QR combo will push shops to digitise
Though a potent one, the combine is not going to be easy to change mindsets of smaller vendors; transaction volumes, so far, have been fairly subdued. Some incentives for both merchants and consumers, may do the trick.
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Three private banks pip PSBs in earnings from penalties
HDFC Bank, ICICI Bank and Axis Bank earned more than all 21 PSBs together between FY15 and FY17
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UPI and demonetisation have been drivers in customer behaviour, says executive director of Axis Bank
Notwithstanding the entry of MNC players in the payments space, a bank like Axis Bank that powers the system will continue to flourish, Rajiv Anand, executive director (retail banking), tells Shritama Bose.
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On the cards: In a digital drive, India Post will now send PoS-man home
With the department of post or India Post planning to equip postmen with point of sale (PoS) machines, you may soon be able to pay for a parcel with your debit card.
