Banking & Finance

HDFC Bank net up 18% on higher other income

The lender’s total capital adequacy ratio (CAR) as per Basel III guidelines was at 18.8% as on March 31, 2021, up from 18.5% as on March 31, 2020, and as against a regulatory requirement of 11.075%.
On a proforma basis, the gross NPA ratio fell four bps from 1.36% at the end of December 2020.

MFIs better prepared to deal with disruptions due to rising COVID-19 cases: MFIN CEO Alok Misra

Over the past year, microfinance institutions (MFIs) have streamlined their processes, trained field staff on COVID-appropriate behaviour and in dealing with lockdowns, and focussed on digitisation, a

RBI reveals names of applicants for universal bank, SFB licences

Applicants under guidelines for on-tap licensing of universal banks are UAE Exchange and Financial Services, The Repatriates Cooperative Finance and Development Bank (Repco Bank), Chaitanya India Fin

RBI

Auto-debit bounces ease in March, but stay above pre-Covid levels

The share of unsuccessful auto-debit requests in volume terms eased from 36.65% in February.

Bounce rates of anything above 25% remain a cause for concern as it shows retail delinquencies remain well above pre-Covid levels.

Piramal Retail Finance to foray into used-car, consumer and education finance

During FY21, the lender has expanded its employee base to about 1,000 from 500, and it intends to double the number again in the next 12 months

The company is targeting to grow the share of retail loans to about two-thirds of the book from 11% at present, and will also add other loan categories such as education loans and small business loans.

Interview | Federal Bank’s credit card should be launched soon: Nilufer Mullanfiroze

Earlier online transactions, using mobile banking, net banking, were ‘nice to do’ activities from a customer perspective.

The pandemic has necessitated being digital, from a consumer side rather than the traditional walk-in model.

Personal hearing before NPA tag: RBI, lenders move SC

A bench led by Justice R F Nariman refused to stay the entire HC judgment, but stayed a part which dealt with granting of personal hearing to a borrower/account holder.

After identification of fraud, it is mandatory to immediately file a complaint with law enforcement agencies so that to avoid loss of relevant relied upon documents, non-availability of witnesses and absconding of borrowers and also money trail getting cold in addition to asset stripping by the fraudulent borrower, RBI stated.

RBI receives 8 applications for setting up banks under ‘on tap’ licensing

UAE Exchange and Financial Services Limited, The Repatriates Cooperative Finance and Development Bank Limited (REPCO Bank), Chaitanya India Fin Credit Private Limited, and Pankaj Vaish and others, are

Reserve Bank of India

Citibank to exit consumer banking biz in India, to focus on institutional segment

On Thursday, the bank announced exiting from the consumer banking businesses in 13 countries, with its global CEO Jane Fraser attributing the decision to an absence of scale to compete in these geogra

American banking major Citibank

Monsoon session: Govt to amend key PSB privatisation laws

As many as 14 private banks were nationalised in 1970 by the Indira Gandhi government, followed by another six banks in 1980.

The plan, according to official sources, is to opt for amending the relevant laws in one go, so that the process of PSB privatsiation is not hindered by legal hurdles.

‘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.

WhatsApp Pay remains in the slow lane four months since November launch

Unified Payments Interface (UPI) transactions through WhatsApp remained tepid in March, four months since the feature went live for 20 million users on the messaging app.

whatsapp

RBI monetary policy: Calms some nerves; just what the doctor ordered

Overall, the policy is in sync with the times and recognises the need to navigate this uncertain period with an open mind

RBI

Banks to remain closed on April 14 in these cities, open in these 7 states; check full list

Banks will remain closed in most of the states on Wednesday, 14 April 2021, on account of Dr. Babasaheb Ambedkar Jayanti.

Bank holiday, Dr babasaheb ambedkar jayanti, Tamil New year day, Negotiable Instruments Act 1881

RTGS to remain unavailable for 14-hr on Sunday due to technical upgrade

The popular National Electronic Funds Transfer or NEFT for fund transfers of up to Rs 2 lakh will continue to be operational as usual during this period.

RBI, RTGS

Sebi slaps Rs 25 crore fine on Yes Bank in AT-1 bonds case

During the process of selling of the AT-1 bonds, individual investors were not informed about all the risks involved in subscription of these bonds.

Yes bank

Remain watchful of evolving situation, push credit flows: RBI Guv to banks

The liquidity scenario and monetary transmission, and credit flows to different sectors, including MSMEs, and retail, were also discussed during the meeting held through video-conferencing.

RBI

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.

For PSBs, the need to change has become even more relevant as the mergers have expanded their scale and competition from tech-oriented players has only intensified.

Bandhan plans to set up hospital, university: Chandra Shekhar Ghosh

Bandhan-Konnagar still exists as an NGO and is committed to running developmental interventions across healthcare, education, livelihood promotion, financial literacy and employment generation.

Chandra Shekhar Ghosh, founder and mentor, Bandhan-Konnagar (File image)

SBI collects Rs 300 cr from zero balance accounts for certain services in 5-year: Study

The RBI's nonchalant attitude to supervise its own regulations encouraged other banks to become unreasonable towards charges beyond four debits a month, it said.

The study observed that the SBI's decision to levy a charge of Rs 17.70 for every debit transaction beyond four by the BSBDA account holders cannot be considered as "reasonable."

South Indian Bank total deposits slightly down at Rs 82,710 cr

Of this, the retail deposits were up by 15 per cent at Rs 76,294 crore as against Rs 66,457 crore, as per the provisional data, released by the bank to comply with the Sebi norms on disclosure require

The other advances also came down by 3 per cent to Rs 45,585 crore.

UCO Bank plans to set off Rs 12,537 cr accumulated losses against share premium a/c balance

State-owned UCO Bank has proposed to set off its accumulated losses of over Rs 12,537 crore by utilising the balance in the share premium account and has convened an EGM next month to seek shareholder

NBFCs to face fresh challenges due to Covid surge: Analysts

Icra Ratings said that due to the Covid-19 pandemic and resultant nationwide lockdowns, securitisation volumes had seen an unprecedented fall in H1FY21 after two successive years of healthy volumes cl

Meanwhile, the extension of the Emergency Credit Line Guarantee Scheme (ECLGS) for SMEs till June 2021 will offer such borrowers further breathing space.

Dhanlaxmi Bank’s advances grow 4.75% in Q4

Meanwhile, the gold loan portfolio recorded an y-o-y increase of 48.13% during the fourth quarter. Sequentially, gold loan advances grew 5.6%.

Total deposits at the end of the forth quarter stood at Rs 11,699.15 crore, against Rs 10,904.07 crore in the year-ago period.
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