Banking & Finance

Uday Kotak says number 8 is jinxed; here’s what Indian hero must do to beat slowdown villain

Even as the Indian economy continues to remain under pressure amid the ongoing slowdown, top banker Uday Kotak said that the economy goes through such a phase every 10 years. Speaking on the sidelines

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Banks mergers a good move, says Vinod Rai

Former comptroller and Auditor General (CAG) and chairman of Banks Board Bureau Vinod Rai on Tuesday said the government’s decision last month to merge 10 state-run banks to create four larger and s

Banking & Finance News

Paytm in discussion to buy stake in Yes Bank from co-founder Rana Kapoor

The bank had posted its first-ever quarterly loss at Rs 1,506.64 crore on the back of higher provisions in the quarter ended March 2019, compared to a profit of Rs 1,179.44 crore in the year-ago perio

Ravneet Gill, the current chief executive officer of Yes Bank who took charge in March, has said the bank wants to increase focus on compliance and governance. News

Rana Kapoor may sell Yes Bank stake to Vijay Shekhar Sharma’s Paytm

Yes Bank co-founder Rana Kapoor is in talks with Paytm founder Vijay Shekhar Sharma to sell stake in the bank.

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SBI lowers MCLR by 10 bps across tenures

The country’s largest lender, State Bank of India (SBI), on Monday announced to cut its marginal cost of funds-based lending rates (MCLR) by 10 basis points (bps) across tenures, with effect from Tu

SBI also reduced its interest rate on term deposits, effective from September 10 News

DHFL repays outstanding amount against commercial papers to fund houses

Dewan Housing Financial Corporation (DHFL) is steadily paying off to mutual funds that hold its commercial paper to avoid litigation, sources said, as some of them had taken the legal route.

DHFL also owes banks Rs 38,000 crore and an additional Rs 34,000 crore to bondholders News

External benchmarking will lead to pressure on margin: Banks

In a move to improve interest rate transmission, RBI has mandated banks to link their lending rates for retail, MSME and personal segment to external benchmark from October 1.

Axis Bank and SBI, which have significant housing portfolio and existing book conversion, can impact margins News

Race against time! PSU banks form high-level committees to meet merger deadline

Bank Merger: Top management of these banks have also identified the core business areas that will be looked after by the specific teams.

PSU Bank Merger, Bank Merger and Consolidation, Mega Merger Deadline News

Ravi Shankar Prasad exhorts India Post Payments Bank to aim for five fold increase in accounts, customers in 1 year

The minister also asked the Postal Department to bring improvements in its delivery system, and conduct regular audits and reviews.

Banking & Finance News

Modi’s mega bank merger: Indian lenders still dwarfs on global stage; only one bank among top 100

Despite three rounds of merger & consolidation, India's largest public-sector bank will remain India's only entry in top 100 banks of the world for years.

Top 10 bank in India, Top 100 bank in world News

Punjab National Bank puts up 11 NPAs for sale to recover Rs 1,234 crore in dues

The bank has asked the prospective bidders to expedite the process of due diligence, saying it will make all possible efforts to bring copies of documents at one place for verification.

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SBI sought issuance of 147 Look Out Circulars in last 5 months pertaining to bank fraud cases

On October 12, 2018, the Home Ministry included Chairman, Chief Executive Officers and Managing Directors of public sector banks in the list of individuals who can seek issuance of Look Out Circulars

SBI, Look Out Circulars, Home Ministry, Enforcement Directorate, Nirav Modi, Bureau of Immigration, RTI Act, cbi News

Festive offer: Bank of India providing home loans at concessional rate, no processing charges

The bank has also launched an SME welcome offer, he said, adding, loans between Rs 50 and Rs 5 crore would be available at concessional rate depending on value of security.

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12 PSU banks almost right to cater to aspirational India, says Finance Secretary

The cleaning up exercise undertaken by him has now started showing result with 14 out of 18 public sector banks posting profit in the first quarter of the current fiscal.

PSU banks, Finance Secretary, Rajiv Kumar, 5 trillion economy, Bank of Baroda, NPA, finance ministry, Dena Bank News

Equitas draws up scheme to list its SFB

The move follows RBI’s refusal to let EHL carry out a reverse merger with ESFB in order to fulfill the requirement of listing by September 4.

On Friday, FE had reported that the RBI has refused to extend ESFB’s deadline for listing News

Allahabad Bank’s bonds put on ‘rating watch evolving’

According to Fitch Ratings' rating definitions, Rating Watches indicate that there is a heightened probability of a rating change.

The proposed merger of Kolkata-headquartered Allahabad Bank and Chennai-based Indian Bank will make the entity the seventh largest bank in India News

NBFCs in dilemma as govt suspends filing of statements

The issue relates to the MCA notifying the Companies (Indian Accounting Standards (Ind AS)) Rules, 2015 stipulating adoption and applicability of Ind AS in a phased manner beginning from accounting pe

NBFC crisis, economic growth, GDP growth, Share of NBFC, public sector banks News

RBI order: Private banks not keen on linking retail loans to repo rate

Currently, only two private banks have on offer repo-rate linked retail loans. After RBI notification, all other private lenders will have to fall in line

RBI monetary policy, Rate cut, policy repo rate, Global growth, BCBS, inflation, global economic indicators, India banking sector News

RBI refuses to extend Equitas SFB’s deadline for listing

RBI said that the bank is in violation of listing norms.

RBI, Equitas SFB, Equitas SFB deadline, Equitas Small Finance Bank News

Mega bank mergers serve no immediate purpose, could have been implemented in phases

Despite long-term vision, this can’t be good at a time liquidity flow is severely constrained

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Borrowers must watch for this even as RBI mandates banks to link loans with external benchmarks

Even as RBI made it mandatory for banks to link all floating loans to external benchmark for better interest rate transmission, the borrowers may have something to be concerned about.

Rupee had settled at 72.12 against the US dollar on Wednesday. News

Cashless India? Digital payment drive not a hit with traders

Banks don't make money in the acceptance business and taking away the sliver of cover they earn from MDR could hamper investments in merchant acquisition.

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RBI order impact: NBFCs set to lose market share as banks offer better terms

Non-banks have already lost significant market share to banks amid an ongoing crisis of confidence and consequent liquidity crunch

NBFC crisis, economic growth, GDP growth, Share of NBFC, public sector banks, india gdp, india economy News

Half of all bank loans are with less than 1% of companies; 266 large firms have borrowed this much money

Only 266 companies, with borrowings at over Rs 5,000 crore each, have aggregate borrowings of over Rs 40 lakh crore.

corporate loans, bank lending, msme, micro, small and medium enterprises, News

RBI’s new regime on external benchmarking of lending rates; these 2 private banks may see bigger impact

The RBI on Wednesday asked banks to link their lending rates on floating rate loans to retail, personal and micro, small and medium enterprises (MSME) borrowers to an external benchmark from 1 October

RBI Circular, home loan, auto loan, personal loan, small industry, external benchmark, repo rate, MCLR, bank loan News

Big bank theory: PSU banks to get CGMs as they look to expand footprint

Banking sector reforms: Modi government has empowered boards of public sector banks to create a new position of CGM to restructure their senior management.

Nirmala Sitharaman, Finance Minister, CGM, Chief General Manager, PSU Bank, Merger News

India loves UPI: 90 crore UPI transactions so far, 10 crore in August alone

Unified Payments Interface (UPI) has crossed 900 million transactions for the first time in August 2019.

Digital Payments, PayTM, PhonePe, Mobiquik,, Online Banking, NEFT, RTGS, OTP, IMPS, Wallet, Paytm News
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