Banking & Finance
Who is Ashwini Bhatia – Banks Board Bureau wants as next SBI MD
Bhatia will be appointed in place of P K Gupta who superannuated on March 31, while Rao will replace Central Bank of India MD Pallav Mohapatra who will retire in February next year.
RBI extends Rupee Co-op Bank licence by 3 months
In a statement issued by the bank, Sudhir Pandit, chairman, board of administrators, said that the bank has till date recovered Rs 258.11 crore and has registered an aggregate profit of Rs 53.19 crore
Yes Bank launches overdraft facility on FDs
Private lender Yes Bank has launched an overdraft (OD) facility against fixed deposits (FDs) for its customers through digital channels.
RBI imposes Rs 4 crore penalty on Citibank; here’s why
The RBI has also imposed penalty on three co-operative banks for non-compliance with various directions issued by it.
No decision taken on setting up bad bank: FinMin official
Last month, the government decided to put restriction on foreign direct investment (FDI) to clamp down on the investor from China to buy Indian companies cheap.
RBI slaps penalty worth crores of rupees on three banks, including one PSU and one cooperative bank
The Reserve Bank of India has slapped a penalty amounting to a total of Rs 6.50 crore on Bank of India, Karnataka Bank, and Saraswat Cooperative Bank.
Banks’ asset quality ratios may worsen up to 600 bps: Fitch
The report added that while secured loans such as home and auto are relatively more resilient, they will not be isolated from stress as unemployment rises.
RBI slaps penalties on Bank of India, Karnataka Bank, Saraswat Cooperative Bank for non-compliance
RBI also imposed a penalty of Rs 1.2 crore on Karnataka Bank for non-compliance with central bank’s directions.
Federal Bank net falls 21% year-on-year as provisions increase
Federal Bank’s net profit for the March quarter fell 21% year-on-year (y-o-y) to Rs 301 crore as it set aside Rs 567.5 crore in provisions, 161% higher than in the same period a year ago.
Forced lending to cripple banks; NPAs to soar by up to 600 bps in 2 years: Fitch
The stimulus measures include extension of the 90-day moratorium on recognition of impaired loans to 180 days, in addition to several relaxations in bank lending limits, including allowing banks to fu
IDFC First Bank launches video KYC facility for customers to open savings accounts
The zero-contact method completely does away with paper work or biometric verification, thereby removing physical interaction between the bank and customer from the know your customer (KYC) process.
Covid-19 crisis: ‘Indian banks need $20 billion in fresh capital’
Credit Suisse expects public sector banks to dial the government for $13 billion in recap. Rising risk aversion and accelerating rating downgrades are expected to add to asset quality stress for banks
IDFC First Bank to give 7% interest on savings account opened through video KYC
IDFC First Bank on Friday reported a consolidated net profit of Rs 76 crore in the March quarter, compared to a loss of Rs 212 crore during the corresponding quarter a year ago.
Interest on deposits drops to 17-year low
Other banks offer higher interest rates — HDFC Bank pays 5.6% and both ICICI Bank and Bank of Baroda pay 5.55% for the same product.
Suryoday Small Finance Bank raises Rs 62 crore from 6 investors
Suryoday Small Finance Bank had earlier launched a working capital loan product for its microfinance institutions (MFI) customers to meet their urgent liquidity requirements during Covid-19 lockdown.
Say ‘yes’ to SBI by SMS, if you want to defer EMI
“The moratorium is anyways available to everyone in the sense that.. if they do not pay, account will not become non-performing asset (NPA)," Setty further said.
Government to withdraw 7.75% Savings (Taxable) Bonds scheme
The scheme, commonly known as RBI Bonds or GOI bonds, is popular among retail investors who looking for safety of principal and a regular income. NRIs, however, are not eligible for making investments
RBI’s loan moratorium may spell trouble for NBFCs looking for funds, as investors’ trust weakens
The effect of loan moratorium is expected to make a dent in the liquidity profiles of non-banking finance companies.
Debt downgrades can push India bank fund raising to $20 billion
A legacy of bad loans, a shadow banking implosion and a historic bank bailout in March have left Indian lenders weakened coming into the coronavirus lockdown.
Kotak Mahindra Bank set to raise Rs 7,460 crore through share sale
The bank also informed that meeting of the issuance committee of the board is scheduled to be held on May 29 to approve the issue price.
RBI to auction 84-day CMBs worth Rs 80,000 crore
CMBs are used to meet the temporary mismatches in the cash flow of the government. This instrument has the generic character of treasury bills but is issued for maturities less than 91 days.
SC issues notice to Centre, RBI on plea against interest on loans during moratorium
A bench headed by Justice Ashok Bhushan, hearing the matter through video-conferencing, issued notices to the Centre and the Reserve Bank of India asking them to file their replies within a week.
152 branches of erstwhile Vijaya Bank integrated; customers to get Bank of Baroda’s banking experience
State-run Bank of Baroda (BoB) has completed the IT integration of another 132 the former Vijaya Bank branches, more than a year after lenders were merged into a single entity.
HDFC reports 22 per cent drop in net over spike in bad loans, provisioning
“On the balance sheet level, we are carrying provisions of Rs 10,988 crore, which is much higher than the regulatory requirement of Rs 4,188 crore,” said Keki Mistry, vice chairman and chief execu
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Budget 2020
- Torrent: Cut to ‘reduce’, revise fair value to Rs 2,350 a share
- Budget 2020 hasn't violated fiscal discipline: FM Sitharaman
- Budget 2020 was disappointing for lacking vision; but fiscal, taxation measures welcome: EAC-PM member Ashima Goyal
- Budget 2020: FM Nirmala Sitharaman says govt willing to do more beyond Union Budget to boost growth
- Budget 2020: FM says green shoots of recovery visible, points at worse macro-economic fundamentals under UPA
- Budget and the economy: What can we expect after this Budget?
- Budget 2020: FM Sitharaman takes on P Chidambaram over defence budget allocation
- Budget 2020 proposals on DDT, personal tax not to impact MF industry: Franklin Templeton
- Budget 2020: Chidambaram slams Modi govt; says economy close to collapse, unemployment making India poorer
- Budget 2020: How ESOP tax changes will benefit start-up employees
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