Banking & Finance

PSU banks post profits in Q1 on strong treasury gains

Punjab National Bank (PNB) posted a net profit of Rs 1,019 crore in Q1FY20 against a loss of Rs 940 crore in the same quarter a year ago.
Since much of the improvement in PSB performance is riding on lower asset-quality pressure and not on purely operational metrics, analysts are taking a dim view of it. (Representational image) News

More forced lending to NBFCs can land banks in trouble, says Fitch report

The parallel banking sector has been under significant funding pressure as investors shy away following the default of IL&FS last September and the resultant troubles at Dewan Housing early this year.

Banking & Finance News

LIC beats private insurance firms; grows new premium at double the pace of competition

State-run LIC’s new premium growth at 52%, on top of an already very high base, was almost double of all the private players’ growth of 27% during April-July 2019

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PSL benefits for bank loans to NBFCs for on-lending only till March 2020

The RBI also said that bank credit to NBFCs for on-lending will be allowed up to a limit of 5% of any individual bank’s total PSL on an ongoing basis.

The central bank also raised a bank’s exposure limits towards a single NBFC to 20% of the Tier-I capital of a bank against 15% currently. (Represnetational image) News

Retail delinquencies of non-banks on the rise in April-June quarter

Retail loans have for long been perceived to be safe, but recent data sets released by companies and the Reserve Bank of India show that retail delinquencies of non-banks are on the rise. Consumption-

Mahindra Finance also saw its gross NPA ratio shoot up to 7.4% in June from 5.9% in March (Representational Image) News

Guarantee for NBFC assets: Rules framed with tough riders

The guarantee provided by the government on the assets will be valid for 24 months from the date of purchase and can be invoked on the occurrence of default.

The NBFCs/HFCs can have the option to buy back their assets after 12 months as a repurchase transaction, on a right of first refusal basis. News

Banks report fall in NPA levels; seek steps to address stress in NBFCs: Survey

A total of 23 banks, including public sector, private sector, foreign and small finance banks, representing over 67 per cent of the banking industry, participated in the survey.

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Aadhaar-enabled payments boom: Over 22 crore transactions done so far; 6.6 crore in July alone

Top five services provided by AePS model are cash withdrawal, cash deposit, Aadhaar to Aadhaar funds transfer, balance enquiry, gateway authentication service.

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Syndicate Bank expects Rs 4,000 crore from NPA recovery in FY20

The bank has recovered about Rs 800 crore in the first quarter and the target for the current fiscal is Rs 4,000 crore, he said.

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Bank of Baroda launches loans linked to repo rate

BoB customers opting for the home loan product would have a choice between MCLR-linked rate — indexed to the bank’s cost of funds — or a rate linked to RBI’s repo rate.

Bank of Baroda, Bank of Baroda loans, repo rate, Reserve Bank of India, Monetary Policy Committee News

Anurag Adlakha appointed Yes Bank chief financial officer

Adlakha will take over from Raj Ahuja, who will now take over as group chief strategy officer, responsible for leading the strategy, planning and projects function of the bank.

Anurag Adlakha, Yes Bank, Yes Bank CFO, Raj Ahuja, Employee Stock Option Plan News

BoI, Syndicate Bank, Allahabad Bank cut MCLRs by up to 25 basis points

The one-year MCLR at Bank of India (BoI), to which over 80% of the bank's loan book is linked, will come down by 25 bps to 8.35% per annum with effect from August 10.

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More PSBs join SBI to slash lending rates by 10-30 bps

The bank said its MCLR under the one-year tenor, where more than 80 percent of its loan book sits, will come down by 25 bps, effective August 10.

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Canara Bank cuts lending rates by 10 basis points after RBI policy announcement

To pass on the benefit of reduction in interest rates effected by the RBI, Canara Bank has cut its marginal cost of fund-based lending rate (MCLR) by 10 basis points across all tenors, effective from

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UCO Bank narrows Q1 net loss to Rs 601 crore

The bank, which is under the prompt corrective action (PCA) framework of the Reserve Bank of India, had reported a net loss of Rs 1,552.03 crore for the fourth quarter of the last fiscal.

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Loans to become cheaper: IDBI, OBC cut MCLRs by up to 15 basis points

Despite a cumulative 75-bps cut in the repo rate between February and June this year, banks have reduced their weighted average lending rates (WALR) on fresh rupee loans by a mere 29 bps during the sa

Loans, cheaper loans, IDBI, OBC, MCLRs, IDBI Bank, basis points News

RBI task force submits report on offshore rupee markets

The key recommendations of the task force include extending onshore market hours to improve access of overseas users and permitting Indian banks to freely offer prices to global clients around the clo

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Jana Small Finance Bank receives Scheduled Bank status from RBI

The bank's aim has always been to provide financial inclusion to the underserved sections of the society, including small business units, small and marginal farmers, micro and small industries, its MD

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Cheaper loans: RBI should now cajole banks towards external benchmarking

In case of India, though the rate cut was expected, the magnitude threw a curveball. This is the first time that a 35 bps cut has been executed by RBI

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RBI to cover all repetitive bill payments under Bharat Bill Payments System

"In order to leverage the advantages of the BBPS and harness its full potential, it has been decided to permit all categories of billers (except prepaid recharges) who provide for recurring bill payme

RBI, Bharat Bill Payments System, White Label ATMs, BBPOU, repetitive bill payments News

Mastercard launches new payment feature for uninterrupted online transactions

The new feature was showcased at the Global Mastercard Cybersecurity Summit, held for the first time in India, which uses device intelligence and behavioral biometrics, with the latest EMV 3-D secure

Mastercard, Mastercard new payment feature, mastercard online transactions, mobile payment, Identity Check Express News

PNB Housing raises $75 million in ECB from Sumitomo Mitsui Bank

"The landed cost of the fully hedged facility has been much lower than the present domestic pricing for similar tenure. This facility will not only augment our liquidity but will further balance our l

PNB Housing, Sumitomo Mitsui Bank, International Finance Corporation, Sumitomo Mitsui Banking Corporation News

Payments banks urge RBI for the right to lend

Rishi Gupta, MD and chief executive officer of Fino Payments Bank, said the payments environment has changed significantly over the years since the licences were issued

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Indian Bank Q1 net profit jumps 75 per cent

With lesser slippage, the bank's provisioning was lower, she said, adding that this quarter the bank posted a healthy growth in all segments.

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