Banking & Finance

What ails India’s banks: Moody’s, S&P Global flag risks around Asian lenders

The coronavirus pandemic is going to hit financial institutions hard; and it is a reality which has not escaped even the least concerned.

Banks are required to raise capital at the moment.

Narendra Modi to troubleshoot issues with banks, NBFCs today; credit growth, financial stability on cards

PM Modi will discuss topics including credit products and efficient models for delivery; financial empowerment through technology; and practices for stability and sustainability of the financial secto

narendra modi, narendra modi, banks, NBFCs, troubleshoot, bank credit

Yes Bank is a zombie left with a half rescue; but, enlisting depositors will be even bigger disaster

A half-rescue is bad enough, as the ongoing Yes Bank misadventure has painfully underscored. Enlisting depositors to top up the capital tank would be a bigger disaster.

COVID-19: PM Modi to hold meeting of banks, NBFCs to deliberate on vision and roadmap for future

RBI governor Shaktikanta Das has advised banks and other financial institutions to proactively raise and conserve capital to be able to beat the stress.

The meeting is also expected to focus on improving credit flow and gauging the impact of the Rs 21-lakh-crore Atmanirbhar package.

IDBI Bank posts Rs 144 crore profit in Q1

Rakesh Sharma also said that 90% of retail borrowers who availed moratorium had a Credit Information Bureau of India (CIBIL) score of 700 and above.

The bank has seen reduction in the number of customers opting for moratorium.

RBL Bank Q1 net falls 47% to Rs 141 crore on higher provisions

The ratio of the microfinance book under moratorium dropped to 35% from 100% and that in the credit-card segment declined to 22% from 24%.

As of June 30, 13.7% of the bank’s loan book by value was under moratorium, down from 33% earlier.

IndusInd Bank net profit down 64% to Rs 510 crore on higher provisions

The net interest income (NII) for the quarter rose 16.4% y-o-y to Rs 3,309 crore. The bank’s net interest margin (NIM) stood at 4.28%, which was up by 3 bps compared with 4.25% in the previous quart

The bank’s board on Tuesday also approved a proposal to raise Rs 3,288 crore through preferential issue.

Yes Bank Q1 net profit falls 60% to Rs 45 crore on decline in income

Yes Bank’s provisions fell 39% yo-y to Rs 1,087 crore and its provision coverage ratio (PCR) improved to 75.1% from 73.8% at the end of March.

Advances, as on June 30, were at Rs 1.64 lakh crore, down 30% on a y-o-y basis.

Few takers for bank loans, says Assocham; pins hopes on RBI MPC meet

Assocham in its analysis further noted that corporate India as also the informal sectors of the economy are in a 'fire-fight' mode and would avoid investment in the near future.

Cabinet decisions: union Cabinet approves interest subvention of 2 pc to SHISHU loan category borrowers under Pradhan Mantri Mudra Yojana from 1 June 2020 till 31 May 2021

PM Modi to join brain-storming session with heads of banks, NBFCs on Wednesday

This is part of a series of meetings that the prime minister is holding for the last few weeks on various sectors of the economy, sources said.

Discussion is likely to be around reviving the economy which is expected to contract by 4.5 per cent in the current fiscal, according to some estimates.

HDFC chairman Deepak Parekh urges RBI not to extend loan moratorium beyond August, here’s why

Governor Das said he had ‘noted’ the suggestions made by industry captains, adding, “I will not be able to comment on any one of them now.”

Infra non-performing assets remain high: Shaktikanta Das

Das observed the spectacular progress in renewable energy has set the stage for India to scale up the share of renewable energy in total electricity generation to 40% by 2030.

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PSB privatisation: Banks need deeper reforms, recapitalisation no panacea, says NK Singh

Growth in business and rise in bad loans in the past decade has forced the Centre to infuse over Rs 3 lakh crore in the past one decade.

Govt: No decision to reintroduce FRDI Bill

The finance ministry had said the safeguards for depositors would only rise under the provisions of the bill. “Bail-in will be only sparingly used.

PSU banks to need more capital as safeguard against stress: Fitch Ratings

Fresh equity injections have become significantly more imperative as economic recovery remains shaky due to continued acceleration in new coronavirus cases, Fitch said. Private banks have better loss-

Retail loans accounted for greater share of banks’ moratorium books: RBI

Banks and non-bank lenders are almost unanimous in stating that the share of their asset books under moratorium has already begun to decline in the second phase of the moratorium, starting June.

PNB Housing Finance aims to cut operational expenses by 5-10%

The company is paying extra attention on recovery.

Kotak Mahindra Bank net profit falls 8.5% in Q1

KMB’s shares on the BSE ended 2.03% lower than their previous close at Rs 1,322.45 on Monday.

State-owned banks to need more capital to safeguard against stress: Fitch

The rating agency expects that state banks will remain reliant on fresh equity injections from the government as the proposed capital amounts, if raised fully, will likely add only around 100-150 basi

Government working on a plan to revamp India Post; could soon turn into a full fledged bank

Loss-making India Post, having a size and workforce hugely disproportionate to its shrinking role, may reinvent itself by becoming a full-fledged bank.

India Post’s FY20 pay and allowances were estimated to be Rs 17,451 crore or in FY20 or 142% more than revenues of Rs 12,211 crore.

Govt amends certain Indian Accounting Standards

While Ind-AS 103 pertains to business combinations, Ind-AS 116 relates to principles for recognition, presentation and disclosure of leases.

"Lease modification requires re-computation of lease liability using discount rate on the date of modification. This would have posed significant challenge to company whose volume of leases are very high.

Months before retirement, Aditya Puri sells 95% of his stake in HDFC Bank

HDFC Bank Managing Director Aditya Puri has sold 95 per cent of his equity stake – 74.2 lakh shares -- worth Rs 842.87 crore during July 21-23, according to stock exchange filings.

HDFC Bank's Aditya Puri highest paid banker for FY20 with Rs 18.92 cr in remuneration

PNB Housing Finance expects to disburse Rs 13,000 cr loan this fiscal, says CEO Neeraj Vyas

In 2019-20, PNB Housing Finance had disbursed loans of Rs 18,626 crore, 48 per cent lower than in preceding fiscal year (2018-19).

Disbursement was lower in June quarter this year because of disruption cause by the coronavirus pandemic.

ICICI Bank Q1 Results: Stake sales help report 36% rise in net profit

Bottom line was cushioned by Rs 3,092-cr income from stake sale in its subsidiaries

The bank further plans to raise money from stake sale in its subsidiaries in the current financial year.

Numberless cards: No visible number or code on card enhances user security

Numberless cards, which don’t have any visible number or code inscribed on them, are revolutionising digital payments by making them more secure

There are several other companies which are also moving to the world of numberless cards, incorporating tech with finance.

No need to privatise PSBs, get govt share down to 26%: RBI Board member Satish Marathe

The country continues to be poor despite all the efforts of many years and efforts to deepen financial access have also been met with limited success, he said.

He made the remarks during an online seminar held to commemorate the 51st anniversary of bank nationalisation.

PM Modi reviews micro credit scheme for street vendors

The review meet was informed that over 2.6 lakh applications have been received, over 64,000 have been sanctioned and over 5,500 have been disbursed.

He said that the scheme should not be just seen from the perspective of extending loans to street vendors.
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