Shritama Bose

Icra revises rating for Reliance Powers’ Rs 8,015-crore debt to ‘default’

In its rating rationale, Icra said the liquidity profile of the company, along with its subsidiaries, continues to remain stretched as evident from considerable decline in the net cash accruals in FY19 and net-worth erosion d

Icra, Reliance Powers, Reliance Powers rating, economy news, industry news, Rpower,Rpower share, Rpower news, Rpower nse, Rpower bse News

NPA crisis: Loan write-offs by banks cross Rs 2 lakh crore

In FY18, PSBs had written off loans worth Rs 1.28 lakh crore. Had banks not written off loans worth close to Rs 2.06 lakh crore in FY19, the value of non-performing assets (NPAs) in the system at the end of the year would hav

NPA, NPA clean up, Bank of Baroda, BoB, Reserve Bank of India, RBI, Dena Bank, Vijaya Bank, State Bank of India, SBI, Loan write off, PSB, public sector bank, industry news, NPA full form, NPA in india, NPA management News

Budget 2019: Bid to do away with charge for digital payments baffles providers

Even as they hailed the proposal to do away with merchant discount rate (MDR) for vendors with a turnover of above `50 crore, payment industry executives are confused how the cost of digital transactions would be covered. MDR

Union Budget 2019 India News

Budget 2019: Nirmala Sitharaman gives lifeline to NBFCs to stay afloat

It permitted banks to reckon with immediate effect the increase in FALLCR to the extent of incremental outstanding credit to NBFCs and HFCs over and above the amount of credit outstanding to these entities as on date.

NBFC crisis, economic growth, GDP growth, Share of NBFC, public sector banks News

MSME loans: Banks stare at slippages of Rs 15,000 crore

These loans would have turned non-performing assets (NPAs) a long time ago had the Reserve Bank of India (RBI) not given banks a breather.

Bad exposure, Banks, MSME loans, Reserve Bank of India, non-performing assets, banking news

HFCs with large builder loans finding it tough to raise money, says SBI senior official

If you look at NBFCs, all of them cannot be put into one category. There are some which are doing pretty well and they are not facing any challenge in generating liquidity. There are others, where there is a perceived threat

HFCs, loans finding, SBI, State Bank of India, SBI cards, Dinesh Kumar Khara News

Bank loan growth hit by consumption slowdown

The growth in banks’ retail loan portfolios has been on a downward trend since November 2018, data from the Reserve Bank of India (RBI) show.

Consumption, loan book, loan book growth, passenger vehicles, banking news

SBI declares 10 corporate borrowers, their directors wilful defaulters

The aggregate outstanding dues are worth close to Rs 1,500 crore.

m cap, SBI, HDFC Bank, Hindustan Unilever, ICICI Bank, HDFC, market capitalisation, TCS, Reliance Industries Ltd, RIL, ITC, Infosys, Kotak Mahindra Bank, markets news, market news

New UPI category waives MDR for small merchants

Merchants with expected inward UPI transactions worth up to Rs 50,000 per month will be eligible for acquisition under the P2PM category.

upi, retail sector, retail industry, economy News

Everyone has a debit card, but not all have a smartphone: SBI MD

Banks are working with auto dealers who have utilised all their inventory funding limits, PK Gupta, MD – retail and digital banking, State Bank of India says.

sbi, state bank of india, banking sector, banking industry News

Bank of Baroda hunts for partner in its credit card arm

As per financial criteria set by the bank, corporates who put in a bid must have a minimum tangible net worth of Rs 500 crore as on December 31, 2018 on an audited or provisional basis.

Markets News

Mumbai Metro One: Syndicate Bank seeks advice on Rs 1,928 crore loan

The bank’s Rs 1,928-crore exposure to the public-private partnership (PPP) is understood to have been classified as a non-performing asset (NPA) in 2018 and it is currently assessing a restructuring proposal developed by EY

Banking & Finance News

UCO Bank declares Yash Birla wilful defaulter, puts notice with photo

In a master circular on July 1, 2015, the Reserve Bank of India (RBI) had said no additional facilities should be granted by any bank or financial institution to listed wilful defaulters.

Banking & Finance News

PNB in talks with bidders to replace Gammon SPV in MP road project

The SPV operating the project is called Sidhi-Singrauli Road Projects and it owes its lenders Rs 564 crore.

Apart from PNB, other lenders to the road project are Allahabad Bank and India Infrastructure Finance Company. (File photo) News

Cheaper loans? Rates unlikely to fall post RBI’s repo cut

Improved liquidity situation may not translate into lower deposit rates as banks remain wary in an environment of slow deposit growth

Loan rates, Reserve Bank of India, State Bank of India, monetary policy committee, WALR, HDFC Bank News

Value picks: Used car financing is now outselling new car loans

More consumers opting to buy second-hand cars as prices of new cars have shot up

Industry watchers say some of the demand for entry-level new cars may have moved to the used-car segment. News

Digital transactions: SBI lost share in almost all payments modes in FY19

In mobile banking volumes, SBI's FY19-end market share fell to 15.01% from 21.2% a year ago. The bank's market share in the Real Time Gross Settlement (RTGS) channel was flat at over 13%, as compared to 13.36% at the end of F

demonetisation, sbi ecoflash report, digital transactions, digital transaction post demonetisation, demonetisation impact News

Suryoday Small Finance Bank will focus on building a much larger base of retail deposits: R Baskar Babu, MD & CEO

The growth has come in from retail assets, which is the new division outside microfinance, and from microfinance as well. The growth rate has been high, predominantly because the base was much smaller.

Suryoday Small Finance Bank growth, SFB assets, sfb FY19, R Baskar Babu, sfb MD, sfb CEO, sfb retail deposits, sfb current account, sfb savings account CASA ratio, SFB loan News

NPA crisis: PSU banks staring at yet another spike in bad loans

Outcome of large insolvency cases crucial, fresh risks from exposures to agri, realty, NBFCs

NPA, PSU banks, nirmala sitharaman, Reserve Bank of India, capital infusion, economy, Indian economy, NPA, public sectors News

PSB banks bailout: Rs 2.5 lakh cr pumped in, yet Rs 4 lakh cr M-cap loss

Outcome of large insolvency cases crucial, fresh risks from exposures to agri, realty, NBFCs

NPA, PSU banks, nirmala sitharaman, Reserve Bank of India, capital infusion, economy, Indian economy, NPA, public sectors News

Indian Bank to raise up to Rs 7,000 crore through QIP

Chennai-based Indian Bank has sought bids from merchant bankers to run the process for its equity fund-raise worth up to Rs 7,000 crore through a follow-on public offer (FPO) or a qualified institutional placement (QIP) of sh

indian bank, banking sector, banking industry News

IDBI Bank seeks buyers for AMC, MF trustee arms

ICICI Securities on Wednesday sought bids for IDBI Bank-owned IDBI Asset Management and IDBI MF Trustee Company as part of the lender’s ongoing effort to sell off its non-core assets to raise

idbi bank, icici securities, mf, mutual fund News

SBI to sell Rs 230-crore NPAs with up to 79% haircut

State Bank of India (SBI) on Tuesday put on sale four non-performing assets (NPAs) worth Rs 230 crore on a 100% cash basis, with reserve prices implying haircuts of up to 79% for the accounts.

sbi, banking sector, banking industry, state bank of india News

NPA crisis: Why loans to MSME, real state, farmers may go bad

PS Jayakumar, MD and CEO attributed the loss to accelerated provisioning for some accounts and ageing provisions of `900-1,000 crore for the two large NPAs of Bhushan Power and Steel and Alok Industries.

Banking & Finance News

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