Banking & Finance
PNB board approves amalgamation with OBC, United Bank
The board of Punjab National Bank (PNB) has given in-principle approval for amalgamation of Oriental Bank of Commerce and United Bank of India with PNB.
Enough liquidity in banking system to fund auto sector: Uday Kotak
Billionaire banker Uday Kotak said there is enough liquidity in the banking system to finance any form of vehicle despite the slowdown in the economy, while stressing on the need for manufacturers to
Banks sold stressed assets worth Rs 3.79 lakh cr till FY19; resolution process catches pace
The prudential framework enables the sale of stressed standard assets, which are in default, as part of the resolution process.
Good news for borrowers: New retail, MSME loans to get cheaper as RBI makes repo linking mandatory
The RBI has cut the benchmark lending rate by 110 basis points since February but banks have transmitted only a fraction of that.
Digital incentives: Banks may seek framework to carry out zero-MDR order
Fintechs demand rollback of Budget proposal to do away with the fee paid by merchants for accepting digital payments
RBI makes it mandatory for banks to link retail loans with external benchmarks from October 1
In a circular issued on Wednesday, the Reserve Bank of India (RBI) said it has been observed that due to various reasons, the transmission of policy rate changes to the lending rate of banks under the
Why PSU banks mega merger plan is good despite opposition from trade unions
In the second round of merger, 6 PSU banks will merge with 4 larger banks. The move is aimed at increasing the efficiency of public sector banks.
Union Bank of India board meeting on September 9 to approve amalgamation
The government on August 30 unveiled a mega plan to merge 10 public sector banks into four.
NPAs likely to come down by this fiscal, but assets over Rs 1 lakh crore still not recognised as bad loans
Even as gross non-performing assets (NPAs) are expected to come down marginally by end of ongoing fiscal, assets over Rs 1 lakh crore that are under pressure are still to be recognised as bad loans, a
Canara Bank board to meet next week to consider Rs 9,000-crore capital infusion
Last week, the government unveiled a mega plan to merge 10 public sector banks into four with a view to creating fewer and stronger global-sized lenders with robust balance sheets that can be used to
Allow FPIs, insurers, MFs, PFs to buy bad loans directly, task force tells RBI
In order to address the issue of possible volatility that may emerge by allowing foreign players, a scheme similar to that of the Voluntary Retention Route (VRR) for FPI investments in debt markets ma
Rewarding failure? IDBI Bank to get Rs 9,300 crore from govt, LIC
On August 27, S&P Global Ratings placed IDBI Bank’s ‘BB/B’ ratings on “credit-watch negative” after regulatory capital breach. The bank’s capital to risk weighted assets ratio (CRAR) had s
PSBs’ credit growth likely to slip: Credit Suisse, Jefferies
The credit growth of the PSBs involved in the merger process is likely to slow down for some time even though the government allocated `55, 200-crore capital
Indian Bank expects to emerge as modern lender with global focus
Indian Bank has a strong presence in South whereas Allahabad Bank is present in northern and eastern India.
SBI Chairman on slowdown: Auto loans may have less demand, home loans see good growth
Even as demand for auto loans sees a reduction, there is growth in home loans, a veteran banker said. A pick up is being witnessed in the affordable housing space, SBI Chairman Rajnish Kumar said.
UPI gives tough competition to mobile wallets; trusted more for high value transactions
Unified Payments Interface (UPI) as a mode of mobile payments is giving tough competition to mobile wallets in merchant transactions and recharges, while also dominating higher valued person-to-person
Mega PSU bank mergers not to revive credit growth, improve bottomline, says report
The government had also said it would infuse Rs 52,250 crore into these 10 banks to boost their balance-sheets.
Indian Bank expects to complete merger with Allahabad Bank by March 31
Currently, Indian Bank has a strong presence in South India whereas Allahabad Bank is present in northern and eastern India.
Merger woes: Bank officers associations to meet in Delhi on September
Besides, Indian Bank will be merged with Allahabad Bank making it the seventh-largest state-owned bank Andhra Bank is the second city-based bank which will lose its geographical identity.
Banks merger: India plans mega banks but analysts say bet on rivals instead
The NSE Nifty Bank Index, a gauge of 12 lenders, dropped 1.4%, while the NSE Nifty PSU Bank Index -- comprising 12 state-owned banks -- slid 3%. Punjab National Bank’s 5.6% decline was the most amon
Consumer finance: Growth at NBFC/HFCs still decelerating
Risk aversion may take time to ease; HDFC/LICHF among HFCs and BAF/MMFS among NBFCs are preferable
Panel blames lack of level playing field, discriminatory regulation for high level of cash in system
Fintech: The panel said there should not be any discrimination between banks and non-banking companies.
NPA crisis: PSU banks likely to revamp Mudra scheme
A source told FE that all aspects of the Mudra scheme — including geographical reach, bad loans and need for better features, enhanced access to the intended beneficiaries — are being reviewed by
SBI Card to soon issue Rupay credit cards, says CEO Hardayal Prasad
Presently, the credit card segment is dominated by the US-based payment gateways like Visa and Mastercard.
Federal Bank to link savings deposit rate to external benchmarks
The Reserve Bank of India has been cajoling banks to move their interest rates to external benchmarks like its repo rate, at which it lends to the system, in order to faster transmission of its policy
Allahabad Bank executive director sees good synergies with Indian Bank
The proposed merger of Kolkata-headquartered Allahabad Bank and Chennai-based Indian Bank will make the merged entity the seventh largest bank in India.
Cheaper loans: Union Bank of India cuts MCLR across various tenors from September 1
Earlier this month, the bank also introduced repo linked lending rate (RLLR) for new home loans and vehicle loans.
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