Banking & Finance

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.

‘RBI’s Fair Practices Code to help eradicate digital lenders acting as agents for non-registered NBFCs’

The guidelines and regulatory code of conduct will help create an environment reverberating with trust and transparency in the sphere of financial services via digital lending platforms.

Such concerns gained ground when the RBI let multiple bond auctions devolve on primary dealers.

NBFIs face renewed asset quality risks amid second COVID wave: Fitch Ratings

Non-banking finance companies face renewed asset quality and liquidity risks amid a second wave of COVID-19, Fitch Ratings said on Thursday.

fitch ratings

RBI makes interoperability mandatory for all wallet, PPI issuers

RBI governor Shaktikanta Das expressed displeasure with the lack of effort on the part of industry players to voluntarily move towards interoperability.

The allowing of cash withdrawals from all PPIs, in conjunction with the mandate for interoperability, will boost migration to full-KYC PPIs and would also complement the acceptance infrastructure in Tier-III to -VI centres, the RBI said.

RBI committee to help ARCs realize their full potential

“ARCs play an important role in the resolution of stressed assets. Their potential, however, is yet to be fully realised,” Shaktikanta Das said.

The announcement from the regulator came at a time when the government has announced setting up an ARC and an asset management company (AMC) to help public sector banks (PSBs) dealing with bad loans.

Slew of measures to enhance credit flow

Raj Kiran Rai G, chairman, Indian Banks’ Association and MD & CEO of Union Bank of India, said the extension of on-tap TLTRO scheme and additional funding to AIFIs would help in providing resources

With a view to increasing the focus of liquidity measures on revival of activity in specific sectors, the RBI has extended the targeted long-term repo operations (TLTRO) scheme by six months till September 30, 2021.

RBI asks banks, NBFCs to immediately make policy to refund ‘interest on interest’ charged during moratorium

RBI on Wednesday asked banks and NBFCs to immediately put in place a board-approved policy to refund/adjust the 'interest on interest' charged to the borrowers during the six-month moratorium

RBI

IL&FS sells environment business; to pare Rs 1,200 crore of debt

Debt-laden Infrastructure Leasing and Financial Services (IL&FS) on Wednesday said it has sold its entire stake in IL&FS Environmental Infrastructure & Services (IEISL) and its subsidiaries

ilfs

Local lockdowns: RBI says no need for loan moratoriums at present

The entire state of Maharashtra is in a lockdown for non-essential services and localised and night lockdowns are being observed in many pockets of the country, including the national capital, to rest

We regularly monitor asset quality data. In any situation, a central bank should not give a knee jerk reaction. And we will not take it either. We will watch a situation, its depth, gravity and impact before taking a decision, he said.

RBI provides relief to ECB borrowers who couldn’t utilise proceeds due to pandemic

Reserve Bank on Wednesday said unutilised External Commercial Borrowing (ECB) proceeds drawn down before March 1, 2020, can be parked in term deposits with banks in India prospectively up to March 1,

RBI

Jana Small Finance Bank ties up with Axis Securities to offer investment services

Jana Small Finance Bank on Wednesday announced its tie up withAxis Securities to offer investment services through 3-in-1 account.

jana small bank

RBI raises Paytm, wallet accounts limit to Rs 2 lakh; opens RTGS, NEFT connectivity with payment operators

The Reserve Bank of India would now allow RTGS and NEFT connectivity with non-bank payment system operators, paving way for UPI interoperability.

RBI, NEFT

IIFL Finance expects 15% AUM loan growth in FY22

IIFL Finance expects loan assets under management (AUM) to grow by 15% in the financial year 2022 (FY22), CFO Rajesh Rajak told FE.

Analysts expect high slippages in banks’ Q4 results after SC verdict

As banks report their first set of quarterly earnings after the Supreme Court vacated an interim stay on the recognition of fresh bad loans, slippages could be elevated in Q4FY21, analysts said.

banks

Chola joins consortium for retail payments NUE

FSS, Zoho, Zerodha, RazorPay, Ujjivan and Airpay are also part of the Vishwakarma Payments consortium.

RBL Bank gross advances up 5 pc at Rs 60,012 cr as of Mar’21

Private sector lender RBL Bank has registered a 5 per cent rise in its gross advances at Rs 60,012 crore as of March end 2021.

RBL

Federal Bank’s deposits grow 13% in Q4

Federal Bank’s deposits rose 13% year-on-year (YoY) during the fourth quarter of the previous fiscal, while gross advances reported a 9% Y-o-Y growth, the bank said in a regulatory filing.

Federal Bank,

Microfinance players don’t see hiccup in operations despite fresh Covid restrictions in Maharashtra

Microfinance players do not foresee any further hiccup in operations, including collection, in Maharashtra despite the state government's announcement of a slew of Covid-19 restrictions to curb the ra

Private banks’ net advances grow in March quarter

Private lenders have reported an improvement in the net advances during the March quarter (Q4FY21), according to provisional data released by the banks.

Union Bank of India looking to digitise recovery processes

Union Bank of India is looking to digitise and automate its recovery processes, according to a tender document issued by the lender.

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