Banking & Finance

Why credit growth hit a 59-year low in FY21? AAA-rated papers were 46 bps cheaper than bank rates

The standard deviation was 30 bps for FY21 for MLCR and in case of GSecs the decline was just 3 bps in a point-to-point basis, with the standard deviation of 12 bps.

The government’s plan, as outlined in the Union budget for 21-22, is to create an ARC and an AMC to take over and resolve bad loans.

RBI’s new norms to help enhance audit quality, transparency, add value: Experts

Further, the new norms will be applicable only for around 300 of the over 9,600 NBFCs while the remaining non-deposit taking NBFCs with asset size below Rs 1,000 crore can continue with their existing

"If audit is considered a cost, then the best way forward is not to go for an audit," quipped Ved Jain, a former president of the Institute of Chartered Accountants (ICAI).

Banks have room to lend Rs 45,000 cr more under ECLGC scheme: IBA CEO

The most vulnerable among them, MSMEs, are in need of support, which has been extended in various forms, more so in the May 5 circular of Reserve Bank of India. Now, the government today announced the

SBI Chairman Dinesh Khara explains rolling out RBI’s 5-May SME loan relief measures; ECLGS extended

SBI Press Conference HIGHLIGHTS: The government announced an extension of its Rs 3 lakh crore ECLGS and will also offer 100% guarantee cover to loans up to Rs 2 crore to hospitals or nursing homes etc

SBI

Dhanlaxmi Bank reports 103% y-o-y increase in 4th quarter net profit

The Thrissur-based lender reported a 103% year-on-year increase in its fourth quarter net profit to R5.28 crore, mostly on lower provisions for bad loans.

It reported an operating loss of R4.10 crore in the fourth quarter of last fiscal.

BoB reports net loss of Rs 1,047 crore due to one-time tax reversal of Rs 3,837 crore

The domestic net interest margin (NIM) of the lender declined 23 basis points (bps) quarter-on-quarter (q-o-q) and 3 bps y-o-y to 2.73%.

Advances grew 2% y-o-y and 1% q-o-q to Rs 7.51 lakh crore. Retail lending portfolio increased 14% y-o-y to Rs 1.2 lakh crore.

Indian Bank posts Rs 1,709-crore net profit in FY21 Q4

Padmaja Chunduru, MD & CEO, Indian Bank, said all the parameters such as business, earnings, asset quality and capital have made significant improvement in the fourth quarter.

Indian Bank

Northern Arc executes Rs 350-crore MLD deal for Shriram Transport

This is the latest in a series of MLD transactions structured, executed and invested in by Northern Arc, through which it has facilitated debt funding for its partners across MSME financing, CV financ

Preparing bank for growth stage once economy opens up: Padmaja Chunduru, MD & CEO, Indian Bank

Improving digital penetration, with focus on new age digital products and end- to -end solution for digital lending will also be our focus areas.

Padmaja Chunduru, MD & CEO, Indian Bank

RTI disclosure: Supreme Court to hear banks’ plea seeking direction to RBI in July

HDFC further said that the apex court in earlier judgments had clearly held that even if public interest is considered while determining whether certain information has to be disclosed or not, such de

supreme court

ESAF Small Finance Bank expects normalcy in business from July, may list as early as September

“Already Maharashtra is showing good promise and collections are good at 75%. In Tamil Nadu too, the collections were at 65% when the new lockdown was imposed.

RBI slaps Rs 10-crore fine on HDFC Bank

“RBI has imposed, by an order dated May 27, 2021, a monetary penalty of `10 crore on HDFC Bank Limited (the bank) for contravention of provisions of Section 6(2) and Section 8 of the Banking Regulat

The regulator has imposed penalty after considering the bank’s reply to the showcause notice, oral submissions made during the personal hearing and examination of further clarifications/documents furnished by the lender. 

Sundaram Finance net up 60% to Rs 209 crore

Executive vice-chairman Harsha Viji said, “While the first quarter of last year was almost a complete washout due to the national lockdown in response to the Covid-19 pandemic, we saw a strong recov

sundaram finance

RBI slaps Rs 10 crore penalty on HDFC Bank over auto loan portfolio

The penalty has been imposed after examining a complaint by a whistleblower regarding irregularities in the auto loan portfolio of the lender.

RBI, HDFC, Reserve Bank of India

Indian Bank posts net profit of Rs 1,709 cr for March quarter

Total income during the January-March quarter of 2020-21 increased to Rs 10,647.87 crore. It was Rs 6,334.37 crore in the same period of 2019-20, Indian Bank said in a regulatory filing.

Indian Bank

Paytm Visa physical debit cards soon; Paytm Payments Bank eyes 45 lakh cards in FY22

Paytm Payments Bank will launch physical debit cards issued by Visa. Currently, it offers physical debit cards by Rupay, and virtual debit cards by Visa to customers.

paytm visa debit card, rupay card

RBI Annual Report: Number of frauds in private banks up 21% in FY21

In value terms, the private banks have reported a rise of 35% y-o-y in frauds during FY21, and PSBs have reported a decline of 45% y-o-y in the similar period.

Reserve Bank of India (RBI)

RBI Annual Report: Asset quality of banks needs to be closely monitored, warns RBI

In its semi-annual financial stability report, RBI had earlier said that the bad loan ratio of banks could rise to 13.5% under the baseline stress scenario by September 2021.

UCO Bank Q4 net jumps nearly fivefold to Rs 80 crore

Talking to FE, MD & CEO AK Goel attributed the sharp rise in the net profit to significant rise in operating profit, interest income and non-interest income.

RBI Annual Report: Worst seems to be over for loan growth

Among bank groups, public sector banks registered a non-food credit growth of 3.1% in March 2021, compared to 3.4% a year ago. However, the credit extended by private sector banks grew by 9.6%, compar

As per RBI's annual report, banks' credit-deposit ratio moderated to 72.4% in 2020-21 from 76.4% a year ago, largely reflecting the subdued credit demand conditions in the economy.

UCO Bank gets board nod for Rs 3,000-crore equity capital raise in FY22; posts Q4 net profit of Rs 80 crore

The fundraise can take place through various modes, such as follow on public offer (FPO), qualified institutional placement (QIP) and preferential issue, subject to necessary approvals from shareholde

UCO Bank Q4 results

UCO Bank Mar qtr net profit jumps about five-folds to Rs 80 crore

Provisions for bad loans and contingencies during the quarter under review was raised to Rs 1,783.15 crore from Rs 1,193.25 crore in the year-ago period.

ESAF Small Finance Bank FY21 net profit dives 45% to Rs 105.40 crore

The operating profit increased from Rs 324.70 crore in FY20 to Rs 415.84 crore in FY21.Total business registered growth of 25.85% from Rs 13,846 crore for the year ended March 31, 2020, to Rs 17,425

DHFL: RBI was never in favour of Wadhawan’s settlement offer

RBI, in its submission at NCLT Mumbai on January 15, 2021, had said, “Affording the applicant (Kapil Wadhawan) even an opportunity of presenting a settlement offer may amount to permitting the appli

While other members will be nominated, NCLT has named former chief commissioner of Income Tax Ashok Kacker as the observer and permanent invitee of the committee.

PNB Housing Finance board to consider fund-raising on May 31

The fund-raising by the non-bank lender was long pending after it had announced to raise Rs 1,800 crore through a preferential or rights issue in November 2020.

The existing brand arrangement dated December 7, 2009, will continue to govern use of the PNB trademark until PNB’s shareholding in the housing finance company is 30% or more.

Manappuram Finance Q4 net rises 18% to Rs 468 crore

For the whole of FY21, the company reported a consolidated net profit of Rs 1,724.95 crore, against Rs 1,480.30 crore in the year-ago period.The NBFC's operating income for the year stood at Rs 6,330.

For the whole of FY21, the company reported a consolidated net profit of Rs 1,724.95 crore, against Rs 1,480.30 crore in the year-ago period.T

Gross NPAs of banks likely to decline in FY21 amid MSME schemes, restructuring, write-offs: CARE Ratings

Despite a challenging year (FY21), the quantum of gross NPAs of scheduled commercial banks (SCBs) is expected to decline by the end of March 2021 as compared with the previous year due to write-offs,

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