Banking & Finance
UBS Principal Capital Asia sells shares worth Rs 150 crore in Axis Bank
Through separate transactions, the shares of Axis Bank were picked up by BofA Securities Europe SA at the same price. On the BSE, shares of Axis Bank on Friday ended at Rs 433.2 apiece, up 0.05 per cent over the previous close.
RBI grants banks one-time window to recast loans in sectors under stress due to Covid
RBI said that the expert committee would have the responsibility of vetting the resolution plan of all accounts where the aggregate exposure is Rs 1,500 crore and above.
Gold jewellery to now fetch 90% of its value as bank loans
The RBI’s move is aimed at increasing the flow of credit to households at a time when banks have turned risk averse.
Loan restructuring allowed only for borrowers who are financially stressed due to Covid-19
The RBI will also permit conversion of debt into securities. Loans to both companies and individuals can be recast, the central bank said while tweaking the rules to enable more MSMEs to take advantag
LIC acquires close to 5% stake in Yes Bank
Earlier this week, Moody's Investors Service upgraded Yes Bank's long-term foreign currency issuer rating by a notch to ''B3'' from ''Caa1'' after a Rs 15,000-crore capital raising. Despite the upgrad
‘Need for discipline’: RBI asks banks not to open current accounts for customers having cash credit, overdraft
In a notification, the central bank said that rather than opening a new current account, all transactions should be routed through Cash Credit (CC) or OverDraft (OD) account.
PNB Housing Finance appoints Hardayal Prasad as new MD & CEO
The housing finance arm, promoted by country's second largest state-owned Punjab National Bank (PNB), currently has Neeraj Vyas as its interim chief.
Bankers call RBI pause a prudent step, hail regulatory moves
Peer Indian Bank's managing director and chief executive Padmaja Chunduru termed the monetary policy committee's call as pragmatic as the accommodative stance has been maintained.
HDFC Bank’s late submission of loans, repayment, other details may draw RBI’s attention
One of India’s biggest credit bureaus has informed the central bank about delays in receiving information from HDFC Bank Ltd., the country’s second-largest lender by assets, according to people fa
IDBI Bank enters into pact with partners to divest 27 pc stake in insurance JV for Rs 595 cr
"IDBI Bank has entered into an SPA with Ageas Insurance International NV (buyer) and the Federal Bank Ltd (buyer) on August 5, 2020, wherein IDBI Bank Ltd has agreed to sell up to 27 per cent stake in
RBI announces special liquidity facility of Rs 10,000 cr for Nabard, NHB
The liquidity facility to both the National Bank for Agriculture and Rural Development (Nabard) and the National Housing Bank (NHB) will be offered at the policy repo rate, RBI Governor Shaktikanta Da
RBI extends loan restructuring facility to companies; eases industry’s pain in tough times
The Reserve Bank of India today announced a loan restructuring window for corporates, following bankers and industry demand.
Shashidhar Jagdishan as HDFC Bank CEO to ensure continuity, stability
Sashi joined the bank in 1996 as a manager in the finance function and has overall experience of 29 years.
Large masses of humanity at risk in developing nations: Bhanu Baweja of UBS Investment Bank
The smaller companies just don’t have the cash buffers. A handful of stocks are leading the stocks in the US as it is in India.
Canara Bank posts Rs 406-crore profit in first results as amalgamated entity
Net interest income (NII) — the difference between interest earned and interest expended — stood at Rs 6,096 crore, up 21% y-o-y.
HDFC sets floor price at Rs 1,838.94 a share for QIP issue
The committee of directors of the Corporation at its meeting held on August 5, 2020, approved and declared the opening of the issue on Wednesday, HDFC said in a regulatory filing.
Credit growth in MSME segment faces severe contraction despite ‘Emergency Credit Line Guarantee Scheme’
While the credit growth in other sectors such as agriculture, services, and personal loans were slow yet positive, the credit offtake in the MSME sector saw a severe on-year contraction of 12.7 per ce
RBI must allow one-time re-structuring of loans to avoid controversy over moratorium on term loans
As industry leaders clamour for extension and banks oppose it just as vehemently, the question of further extension of moratorium has become highly contentious.
HDFC Bank: Sashidhar Jagdishan to succeed Aditya Puri as CEO
Jagdishan was recently anointed the bank’s ‘change agent’ in what was seen as a thinly-concealed nod from Aditya Puri to his preferred successor.
SDL yields continue to remain lower ahead of monetary policy announcement by RBI
For instance, Andhra Pradesh received a cut-off of 6.55% for its 15-year paper while its 18-year paper saw a relatively lower cut-off of 6.50%.
Modi govt’s guarantee-free loans for MSMEs: These PSU banks offer maximum credit to small businesses
State Bank of India (SBI) has recorded the maximum cumulative sanctions and disbursements of Rs 21,027 crore and Rs 15,112 crore respectively.
HDFC Bank’s new CEO found: RBI approves Shashidhar Jagdishan to succeed Aditya Puri
This development will lift the curtain on who will be leading India's largest private sector lender after Aditya Puri.
Ahead of MPC meet, ICICI Bank cuts MCLR by 10 basis points
The one-year MCLR of ICICI Bank, to which many of the consumer loans are linked, will come down to 7.45% after the reduction.
Ownership rules: Promoter dilutes 20.95% stake in Bandhan Bank
However, giving a breather to the bank, RBI lifted the regulatory restriction on its branch opening in February 2020, subject to some conditions, although the bank was not then in compliance with the
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Budget 2020
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