Banking & Finance
Capital First founder gifts Rs 20 crore worth of shares to maids, drivers, colleagues, family
Given the closing price of the company's shares on Friday at Rs 478.60 each, the shares to be transferred to maids and drivers are valued at Rs 31.1 lakh, while 11,000 shares to colleagues are worth R
RBI vs Government: Finance Ministry was aware of changes in PCA ahead of its rollout
The Reserve Bank of India (RBI) had not just written a detailed letter, it had also made a presentation to the finance ministry before it rolled out the tighter norms for Prompt Corrective Action (PCA
Union Bank of India rated ‘Buy’; performance in the quarter was decent
Q2FY19 core PPOP was in line, and it reported PAT of Rs 1.4 bn vs our forecast of a loss of Rs 1.6 bn, due mainly to lower provisioning (coverage was flat q-o-q).
CIC issues show-cause notice to RBI governor Urjit Patel for non-disclosure of wilful defaulter’s list
The Central Information Commission (CIC) has issued a show-cause notice to RBI Governor Urjit Patel.
RBI kick-starts process to set up PCR for capturing details of borrowers
The Reserve Bank has initiated steps to set up a wide-based digital Public Credit Registry (PCR) to capture details of all borrowers, including wilful defaulters and also the pending legal suits in or
SBI puts up 11 NPA accounts for sale to recover Rs 1,019 crore
SBI has put up 11 non-performing assets (NPAs) for sale to ARCs and financial companies to recover dues of nearly Rs 1,019 crore. The country's largest lender said the e-auction of these NPA accounts
This India-based payments network is now biggest market player with 459 million transactions
India's own homegrown card network has become the biggest market player with over 459 million transactions.
PNB shares tank over 7% post disappointing Q2 numbers
Shares of Punjab National Bank Friday slumped over 7 per cent after the company posted a staggering loss of Rs 4,532.35 crore for the second quarter ended September 2018 on rising bad loans.
MasterCard cries foul over ‘Modi’s nationalism’ as India’s homegrown RuPay takes lead
Mastercard told the United States government in June that Indian Prime Minister Narendra Modi was using nationalism to promote the use of a domestic payments network, and New Delhi's protectionist pol
RBI takes note of NBFC crisis, allows banks to provide enhanced liquidity
The NBFCs are facing liquidity crisis after one of the biggest non-banking financing firm IL&FS defaulted on multiple loans, leading to the appointment of the new government-picked board under top ban
Axis Bank Q2 net profit climbs 83% to Rs 790 crore, provisions fall
Axis Bank Q2 results: The private sector lender Axis Bank on Friday posted a 83 percent jump in the net profit at Rs 789.61 crore for the July-September quarter supported by healthy growth in core inc
LIC Housing Finance eyes 15-16% growth in FY 2018-19, says Managing Director Vinay Sah
LIC Housing Finance Ltd was eyeing 15-16 per cent growth rate during the current financial year, a top company official said Friday.
SBI to raise Rs 4,116 crore by issuing Basel III compliant bonds
The country's largest lender SBI will raise Rs 4,116 crore by issuing Basel III compliant bonds to add up to its tier 2 capital, the bank said Friday.
Paytm UPI transactions grow 600% in 6 months; becomes largest UPI player in October
The Chinese e-commerce giant Alibaba-backed Paytm had recorded more than 137 million UPI transactions in the month of September, with about 33% of the overall market share.
IL&FS Financial Services’ exposure to group companies breaches RBI norms in FY 16-18, says Board
The new board of the troubled IL&FS has found that one of the group subsidiaries, IL&FS Financial Services' (IFIN) outstanding loans and investments to other group entities are much higher than the pe
All you need to know about current liquidity crisis at India’s NBFCs
Debt-ridden IL&FS, in which various corporates, as well as mutual funds and insurance firms, had invested through short-term instruments like commercial papers and non-convertible debentures (NCDs), h
IL&FS case: Uday Kotak led board warns about Rs 53,000 crore bank exposure; 5 key things to know
Uday Kotak-led Infrastructure Leasing and Financial Services (IL&FS) board warned about banks facing Rs 53,000 crore worth exposure to finance company.
Finance Ministry fears significant NBFC defaults without liquidity lifeline; says, situation fragile
India's Department of Economic Affairs (DEA) fears significant default from large non-banking finance companies (NBFC) and housing finance companies in the next six weeks if no additional liquidity su
Banks’ consumer durable loan portfolio falls 82% in Sept
Outstanding loans to the segment dropped a sharp 82% year-on-year (y-o-y) to Rs 3,225 crore on September 28.
Kill IL&FS’s toxic culture by dismembering it
The $12.8 billion bankruptcy of shadow lender Infrastructure Leasing & Financial Services Ltd. is starting to offer a glimmer of hope.
Why did RBI hesitate to open special liquidity window for NBFCs, HFCs? Here’s the answer
The RBI has been under pressure from the government to open such a window to provide relief to troubled NBFCs and HFCs from the cash crunch problem ahead of the festive season as both public sector an
Modi government declines to give NPA details submitted by ex-RBI governor Raghuram Rajan, shows RTI
The Prime Minister's Office (PMO) has termed as a "roving enquiry" an RTI plea seeking to know details of bad loans submitted by the then RBI Governor Raghuram Rajan to it and which finds mention in h
IDFC to sell controlling stake in IDFC Infrastructure Finance to NIIF II
Private lender IDFC Ltd Wednesday said it will sell controlling interest in IDFC Infrastructure Finance Ltd to National Investment and Infrastructure Fund II, for an undisclosed amount.
After ten quarters of losses, Bank of Maharashtra posts Rs 27-crore profit in July-September
After 10 consecutive quarter of losses, Bank of Maharashtra has posted net profit of `27 crore during the Q2FY19. The bank had reported a net loss of `23.24 crore in the same quarter previous year.
Analyst Corner: NBFC issue to work in Oberoi Realty’s favour
A change in stance a couple of quarters back (to focus on volumes), backed by the introduction of a subvention scheme, helped Oberoi start the year on a strong note.
Analyst Corner: ‘Hold’ on UBI; valuation to remain under pressure
Union Bank of India’s (UNBK) Q2FY19 results are characterised by an improving asset quality trend even as business momentum continues to be soft. Key highlights: (a) Slippages were restricted to `26
Lenders seek bids for Coastal Energen
Lenders to Coastal Energen, led by State Bank of India (SBI), on Tuesday sought bids for a 51% stake in the company for the second time in five months.
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