Banking & Finance News
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RBI’s ICE framework: Banks need to take 40-60% haircut on stressed debt to get RP4 rating, says report
PTI | September 12, 2018 2:40 PMRBI in its revised framework had said all resolution plans involving restructuring or change in ownership for large accounts where the aggregate exposure of lenders is Rs 100 crore and above would require ICE of the residual debt by credit rating agencies (CRAs).
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Yes Bank raises USD 400 million through syndicated loan facility
PTI | September 11, 2018 8:28 PMPrivate sector lender Yes Bank Tuesday said it has raised USD 400 million (approx Rs 2,894 crore) by way of syndicated loan facility, through IFSC Banking Unit in Gujarat International Finance Tec City.
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RBI nominee on PSU boards create illusion of regulatory control, says Raghuram Rajan
PTI | September 11, 2018 8:23 PMFormer RBI Governor Raghuram Rajan is not in favour of having an RBI nominee on the boards of public sector banks, saying it creates an “illusion that the regulator is in control”.
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Yes Bank raises $400 million through syndicated loan facility
PTI | September 11, 2018 3:54 PMPrivate sector lender Yes Bank Tuesday said it has raised USD 400 million (approx Rs 2,894 crore) through syndicated loan facility, borrowed out of its IFSC Banking Unit (IBU) in Gujarat International Finance Tec City (GIFT).
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EXCLUSIVE: Farmers’ loan distress will continue if there’s no comprehensive insurance, says Rabo Equity CMD
Anuradha Choudhary | September 11, 2018 11:58 AMFood processing is a great sector and Rabo will continue to focus on “high value” processing sector, said Srivastava, adding that the golden opportunity will lie in all those areas where production and consumption advantages can hold out sustainably for next decade.
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NPA mess: What ex-RBI governor Raghuram Rajan suggests to tackle bad loan problem
FE Online | September 11, 2018 10:00 AMThe governance of public sector banks (PSBs) and monitoring process of non-performing assets (NPAs) needs improvement in order to tackle the growing problem of bad loans, said former Reserve Bank of India (RBI) governor Raghuram Rajan.
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Insolvency case: ICICI Bank moves NCLT against JP Associates
FE Bureau | September 11, 2018 5:50 AMICICI Bank on Monday filed an insolvency case against Jaiprakash Associates before the Allahabad bench of the National Company Law Tribunal (NCLT), which issued notices to the latter seeking a reply by September 17 when the matter will be heard next.
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India Post Payments Bank: How IPPB could be game changer for micro enterprises
FE Online | September 10, 2018 4:49 PMThe India Post Payments Bank (IPPB) was set up under the Department of Posts, Ministry of Communication, and formally launched by Prime Minister Narendra Modi on September 1, 2018.
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Matter of concern: Bank deposit growth lags for a year
Shritama Bose | September 10, 2018 5:57 AMDouble-digit growth in deposits has eluded banks for a year now with the rate of growth of households savings moderating and more surpluses finding their way into mutual funds.
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Indian insurance to be $280 billion industry by 2019-20: Assocham
IANS | September 9, 2018 7:20 PMThe Indian insurance industry is expected to grow to $280 billion by 2019-20, aided by the Centre’s Ayushman Bharat health insurance scheme, industry chamber Assocham said on Sunday, citing a joint study conducted with research firm APAS.
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RBI issues new guidelines for note refund – How to reimburse Rs 2,000, Rs 500, other notes if mutilated
FE Online | September 9, 2018 6:45 PMThe Reserve Bank of India (RBI) on Friday made amendments to Reserve Bank of India (Note Refund) Rules, 2009.
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HDFC Life simplifies claim settlement for flood-hit Kerala
PTI | September 9, 2018 5:18 PMHDFC Life said Sunday it has simplified the claim settlement process for life and health policies for customers in the flood-affected Kerala state.
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RBI may conduct OMO this week to ease liquidity, say bankers
PTI | September 9, 2018 1:32 PMThe Reserve Bank of India (RBI) is likely to conduct an open market operation (OMO) purchase this week to infuse liquidity into the banking system, which is further going to tighten on account of advance tax payments, say bankers.
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Who is Amitabh Chaudhry? HDFC Life’s CEO all set to replace Axis Bank’s MD and CEO Shikha Sharma
FE Online | September 8, 2018 8:19 PMPutting an end to speculations, Axis Bank on Saturday appointed HDFC Life’s Amitabh Chaudhry as the bank’s CEO and MD after Shikha Sharma retires from the post.
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Axis Bank appoints HDFC group’s Amitabh Chaudhry as MD & CEO; to take charge on January 1
PTI | September 8, 2018 7:38 PMAxis Bank said Saturday Amitabh Chaudhry has been appointed its Managing Director & CEO from January 1, 2019 for a period of three years.
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Rs 90 crore bank fraud case: ED raids 9 places in Tamil Nadu
PTI | September 8, 2018 6:57 PMThe Enforcement Directorate (ED) Saturday conducted searches at nine locations in Tamil Nadu in connection with an alleged Rs 90 crore bank loan fraud money laundering case, officials said.
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Bharat bandh impact on banks: No need to worry, banking services will continue ‘as usual’
FE Online | September 8, 2018 4:24 PMAs on Monday, the Congress has called for a Bharat Bandh to protest high petrol and diesel prices, a bank official has said that it will not impact the banking services and banks work will continue as usual.
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HDFC Bank hikes MCLRs by 20 bps across tenures, one-year rate now stands at 8.6%
FE Bureau | September 8, 2018 2:32 AMHDFC Bank, the country’s largest private-sector lender by assets, raised its marginal cost of funds-based lending rates (MCLRs) by 20 basis points (bps) across tenures. Its one-year MCLR now stands at 8.6%.
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SBI withdraws plan to sell Essar Steel loans post NCLAT order
PTI | September 7, 2018 8:58 PMCountry’s largest lender State Bank of India (SBI) Friday said it has withdrawn the process of sale of debt of Essar Steel to asset reconstruction companies (ARCs) after the NCLAT asked lenders of the debt-ridden firm to consider the second round bid of Numetal and mining baron Anil Agarwal-led Vedanta.
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RBI imposes Rs 1 crore fine on Union Bank of India for delay in fraud detection, reporting
PTI | September 7, 2018 3:51 PMThe Reserve Bank of India has imposed a Rs 1 crore penalty on Union Bank of India for failing to detect and report fraud on time.
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Anshula Kant appointed SBI Managing Director: Here’s her journey from Probationary Officer to MD
FE Online | September 7, 2018 2:59 PMThe State Bank of India (SBI) on Thursday said that the government has appointed Anshula Kant as the Managing Director of the bank.
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Complying with RBI deadline, PNB, UBI and Andhra Bank put NPAs of Rs 4,441 crore on sale
Shritama Bose | September 7, 2018 2:40 AMPNB has put on sale 21 accounts having `1,320 cr outstanding; Andhra Bank’s 53 entities have `2,549-cr debt; UBI’s 30 accounts have total outstanding of `572 cr
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Bank of Baroda raises MCLR by 5 bps
FE Bureau | September 6, 2018 2:42 AMBank of Baroda (BoB) on Wednesday followed larger rivals State Bank of India (SBI) and ICICI Bank in hiking lending rates.
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Jan Dhan Yojana: Government doubles overdraft limit to Rs 10,000
PTI | September 5, 2018 9:22 PMThe government Wednesday decided to make the Pradhan Mantri Jan Dhan Yojana (PMJDY) an open-ended scheme and added more incentives to encourage people to open bank accounts.
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Bank of Baroda hikes MCLR by 5 bps across tenors
PTI | September 5, 2018 5:49 PMBank of Baroda Wednesday said it has increased the marginal cost of funds based lending rate (MCLR) by 0.05 per cent across tenors, days after market leader SBI hiked the rates.
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On Teacher’s Day, Paytm’s Vijay Shekhar Sharma heaps praises on HDFC Bank’s Aditya Puri; here’s what he said
FE Online | September 5, 2018 4:21 PMHeaping praises on HDFC Bank CEO, Paytm’s Vijay Shekhar Sharma said that he hoped to acquire just 10% of Aditya Puri’s cast banking knowledge.
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LIC board explores open offer for IDBI Bank stake
FE Bureau | September 5, 2018 3:44 AMEconomic affairs secretary Subhash Chandra Garg said the time-table for completing the transaction has been decided and that an open offer is being explored.
Horoscope: By Peter Vidal
SAGITTARIUS Your creative energy should now be at a peak, but not perhaps because the stars are all on your side. On the contrary, challenging romantic stars remind us of the cliché that all great art stems from… read more
