Banking & Finance

Indian Bank’s Q1 net profit rises to Rs 369 crore

Accordingly, the combined financial as on June 30, 2019 has been arrived at by aggregation of audited numbers of combined figures of two banks, Indian Bank said.
The provision coverage ratio was at 80.52 % as against 74.35%.

SBI introduces review feature in YONO app: Bank to facilitate farmers to revise limit on Kisan Credit Card banking section

SBI said its YONO app has grown by leaps and bounds over the last two and a half years since its launch.  It has seen more than 58 million downloads with over 26 million registered users.

MFI collections recover by 70-75% after lifting of COVID-19 restrictions: Report

MFIs have also raised about Rs 2,000 crore through bond issuances under the targeted long-term repo operations and partial credit guarantee schemes. 

Yes Bank investigation: Special court rejects Rana Kapoor’s anticipatory bail plea

According to the CBI, Kapoor entered into a criminal conspiracy with Kapil Wadhawan for extending financial assistance to Dewan Housing Finance Corporation Ltd (DHFL) through Yes Bank.

Bank lending to NBFCs jumps 190 bps to 8.8 pc since Sept 2018

"The overall composition of NBFCs in banks' credit exposure increased from 6.9 per cent in September 2018 to 8.8 per cent in June 2020," the rating agency said in the report on Friday.

Bank lending to NBFCs declined marginally to Rs 9.36 lakh crore from Rs 9.49 lakh crore in May 2020, owing to a fall in mutual funds funding and reduction in the activity level of NBFCs, according to the report.

Shriram City cuts loans to small firms by 99%; turns cautious on its most important clients

Shriram City Union Finance Ltd., an Indian shadow lender backed by Apax Partners, is turning cautious on its most important set of customers as the coronavirus pandemic roils businesses.

The report also mentioned that commercial vehicle (CV) loans emerged as the leading asset class accounting for around 31% of overall volumes in the June quarter.

Debit, credit card use climbs back to pre-COVID level; consumer spending rises amid layoffs, salary cuts

Value of transactions through credit and debit cards have reached pre-COVID levels after witnessing a major drop in April. The same has jumped 111% in June as compared to April this year.

Credit cost to more than double for NBFCs, says Acuite Ratings

Kailash Baheti, group chief financial officer (CFO), Magma Fincorp, said that liquidity flow for NBFCs should be continuous.

RBI tightens corporate governance norms for core investment firms

Among the parameters a CIC will be expected to disclose are details of its investment in other CICs, its off-balance sheet exposures and the maturity pattern of its assets and liabilities.

The notification does not specifically mandate the setting up of other board-level committees, such as those for audit and remuneration, as suggested in the report of the working group.

US firm Fiserv to support Federal Bank to launch credit card

With a strong retail and remittance business in India, Federal Bank was looking for a flexible and scalable technology and business process outsourcing solution to support the launch and subsequent gr

The Kerala-based lender has also outsourced the associated operational processes to Fiserv.

Lot has been done, but best of HDFC Bank yet to come, says Aditya Puri

Besides, he said, the bank has made a difference to the lives of over 7.8 crore Indians through its corporate social responsibility initiative Parivartan.

Earlier this month, HDFC Bank appointed Jagdishan as the managing director with effect from October 27, when Puri turns 70.

Poonawalla Finance eyes 35% gowth in loan book in FY21

Poonawalla Finance offers only collateral-free loans and demands no guarantors. Its maximum ticket size is Rs 30 lakh, with a tenor of maximum three years, but the average tenure is two years

Airline pilots, hoteliers, and journalists a no-go area for bankers as getting loans becomes tougher

With the economy under duress, bankers are are scrutinising retail borrowers a lot more stringently these days.

Not all lenders, however, are shutting out risky borrowers altogether.

One-time loan recast scheme difficult to implement: Srei Infrastructure Finance V-C

The government and the RBI have been trying their best to cushion the impact of Covid-19 on the economy and businesses.

Also, the proposed plan has set March 1 as the reference date for the outstanding amount of debt restructuring, provided the loan continues to remain standard till restructuring is invoked.

Maharashtra urban co-op banks concerned over rumours on their financial health

Vidhyadhar Anaskar, chairman of the federation, said no restriction has been imposed against them.

Vidhyadhar Anaskar, chairman of the federation, said no restriction has been imposed against them.

Banks to be cautious despite gold loan LTV relaxation: Report

The agency believes lending cautiously for banks is especially important in the light of the recent rapid rise in gold prices (39 per cent over April 1 - August 11, 2020), which increases the probabil

RBI asks urban cooperative banks to implement system-based asset classification from June 2021

UCBs having total assets of over Rs 1,000 crore but less than Rs 2,000 crore as on March 31, 2020 and having self-assessed themselves as being under Level III or Level IV on the Comprehensive Cyber Se

Loan recast: NBFCs’ refinancing needs likely to increase, says report

Last week, RBI gave permission to lenders to go for one-time restructuring of corporate and personal loans facing stress due to the disruptions caused by coronavirus.

A higher quantum of restructured assets would clearly reflect higher asset quality challenges for NBFCs and can restrict their ability to mobilise funds from banks and capital markets, it said.

Deutsche Bank infuses Rs 2,700 cr in India operations for expansion

Banks have to set aside capital for every new loan that they make and also when the loan slips into non-performing territory.

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Fortunes of troubled NBFCs turn; show signs of revival on stimulus amid pandemic fallout

The sound health of shadow banks is vital because they form the backbone of the Indian economy in lending to a wide range of borrowers from small merchants to business giants.

It’s been five years since demonetisation happened, then GST, RERA and the NBFC crisis came.

IndusInd Bank sells part of pledged shares of Eveready Industries, McLeod Russel

In the last month, the Burman family had acquired around 8.48% additional equity stake in Eveready from open market operations, taking its holding in the company to 19.84%.

The bank invoked the pledged shares for recovery of its dues from Seajuli.

Bank debt restructuring to delay bad loans recognition: Fitch

In a report on Monday, Fitch Ratings said the policy could open a window for banks to build capital buffers while putting off full recognition of the coronavirus pandemic’s impact on loan portfolios

Fitch believes that the scheme may be designed to give banks more time to raise capital to address the impact of the crisis on loan portfolios.

Central Bank of India net profit rises 14.4% year-on-year as provisions fall

The net interest margin (NIM), a key measure of profitability, rose 23 basis points (bps) sequentially to 3.08%.

In absolute terms, GNPAs stood at Rs 31,946 crore, while net NPAs stood at Rs 10,469 crore at the end of Q1FY21.

Icra expects loan restructuring at 5-8% of overall banks loan book under new norms

Last week, the RBI allowed banks to go for one-time restructuring of corporate and personal loans that are under stress due the COVID-19 pandemic.

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