Banking & Finance
SC refuses to entertain plea against writing down of AT-1 bonds by Yes Bank
We decline to entertain the petition under Article 32 of the Constitution since the petitioners are at liberty to adopt appropriate remedies available in law, including by virtue of a petition under A
RBI to conduct first-ever OMO purchase of SDLs on October 22
The central bank had decided to conduct OMOs in SDLs as a "special case" during the current financial year with an aim to improve liquidity and facilitate efficient pricing.
Will Indian banks’ credit loss, NPAs surge as new accounting standard sneaks around the corner?
With even their most reliable borrowers succumbing to the economic devastation of COVID-19, financial institutions need to heighten diligence to protect themselves against the risks of bad loans and N
Fund diversion: Sambandh defaults; internal fraud, says CFO
The letter dated October 7, also alleges fund diversion by Kindo to other entities named Diya Dairy & Agroprocessors, Kshamta Foundation, Regional Rural Development Centre, DK Enterprises and Utkal Da
Lakshmi Vilas Bank board okays Rs 500-crore rights issue
The lender is being run by a three-member committee of directors (CoD) after shareholders rejected the reappointment of seven directors, including that of the MD & CEO S Sundar, at the recent annual g
South Indian Bank Q2 profit falls 23% at Rs 65 crore
Gross NPA of the bank stands at 4.87% as against 4.92% last year and net NPA improved to 2.59% as against 3.48% in the year-ago period.
Hopeful of achieving 5-6% credit growth in FY21: Manas Ranjan Biswal, Executive Director, Union Bank of India
The recently announced TLTRO of Rs 1 lakh crore is yet another step by the RBI to channelise liquidity towards specific sectors.
Banks need artificial intelligence for corporate lending: CEA Krishnamurthy Subramanian
The CEA said lending to MSMEs (Micro, Small and Medium Enterprises) in the country has remained stagnant for the last 15 years indicating that banks have not developed models to actively lend to the s
No recast for accounts that cured 30-day default after March 1: RBI
Loans against property (LAPs), availed for business purposes but are secured by immovable assets, will not be treated as individual loans and they will be eligible for resolution under Part B of the f
Disbursed Rs 5,500-crore retail credit via YONO in Sept quarter: SBI chief
The Chennai-based private sector bank was jolted on September 25 when its shareholders voted out seven directors on its board, including chief executive officer S Sundar and promoters KR Pradeep and N
Will exceed guidance of 15% growth in FY21: Muthoot Finance
Regarding the new policy on on-tap targeted long-term repo operations (TLTRO), Muthoot said the cost of borrowing could come down for the NBFCs and benefits could be passed down to customers in the fo
Bank credit grows 5.7% in June quarter: RBI data
Credit to the household sector increased by 9 per cent and its share in total credit rose to 50.2 per cent from 48.7 per cent a year ago.
‘UPI transactions help save 0.10 per cent of GDP’
The uptick in transactions, which touched 1.8 billion in September, has also helped the economy from an "enablement" perspective, Arvind Gupta, a professor of digital economy who spearheaded BJP's nat
Loan moratorium: Implement interest waiver as soon as possible, says SC
The apex court sought know from the Centre as to whether the benefit of loan interest waiver for borrowers of up to Rs 2 crore during the moratorium period has percolated to the common man.
RBI says farm loans excluded from resolution framework; lists out loan categories eligible for scheme
The loans given to farmer households would be eligible for resolution if they do not meet any other conditions for exclusions listed in the resolution framework.
Only standard loan accounts as of March 1 can be recast under pandemic scheme: RBI
In clarifications issued late last night to borrowers as well as lenders about the August 6 circular, RBI said a loan account that was due for more than 30 days as on March 1, 2020, but subsequently g
Bank of Baroda mulling to move 50% of staff into WFH in 4-5 years
“This also gives an opportunity to access talent which was not possible previously. Since you allow people to work remotely or some work can be done remotely, you can actually access top-class talen
JPMorgan, Citigroup profits improve amid signs of recovery
Many economic indicators have markedly improved since the pandemic shutdowns of April and May.
Bank NPAs may rise to double digits this year; these factors likely to weigh on bad loans
India’s NPA ratio is one of the highest among comparable countries and further, it is expected to reach 11-11.5% by the end of the current fiscal year 2020-21.
Depositors start spending ahead of festive season; banks’ liquidity surplus hit by these factors
The central government borrowings of Rs 60,000 crores and state government borrowings of Rs 23,728 crores, along with statutory dues (TDS payments) limited the banking system liquidity surplus during
Co-origination game-changer for NBFCs, HFCs: ShriramCity
Shriram City Union Finance (ShriramCity) has said the Reserve Bank of India (RBI)’s renewed thrust on co-origination of loans can be a game-changer for both non-banking financial companies (NBFCs) a
Bank credit may grow 7% YoY in Q2; NBFC disbursals to pick up QoQ
"We expect banks/NBFCs within our coverage to report credit growth of 7.3/5.8% YoY vs. 8.2/7.1% in 1QFY21,” HDFC Securities said in a recent note, adding, “Deposit growth is likely to have exceede
Lakshmi Vilas Bank board to meet on October 15 to consider rights issue
As per a resolution passed by its board, the Lakshmi Vilas Bank has got approval for raising funds by way of equity shares and other instruments through various modes
RBI raises banks’ aggregate exposure limit for small businesses to Rs 7.5 crore
The risk weight of 75 per cent will apply to all fresh exposures and also to existing exposures where incremental exposure may be taken by the banks up to the revised limit of Rs 7.5 crore, the Reserv
RBI announces portfolios of deputy governors
Rao was executive director of the Reserve Bank before being elevated to the post of deputy governor. He took the new charge last week.
Irdai panel for lower entry-level capital for micro-insurance companies
The committee set up by the Insurance Regulatory and Development Authority of India (Irdai) to suggest steps to promote micro-insurance said that like other nations India too will need to attract mult
RBI allows HFCs to lend with banks under co-origination model
The Reserve Bank of India (RBI) on Friday allowed housing finance companies (HFCs) to collaborate with banks for priority sector lending under co-origination model.
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Top News
- US SEC not to take action against ICICI Bank in provisioning probe
- US signs key defence agreement with India, Mike Pompeo says China 'no friend to democracy'
- Bihar Election 2020 LIVE: Voting begins for the first phase; 1,066 candidates in fray for 71 seats
- Salvaging act: States curbed spending in FY20 to rein in deficit at budgeted 2.6%
- Bharti Airtel: More 4G users take Arpu to high of Rs 162
- Hiranandani group to invest Rs 7k crore to set up data centre in Greater Noida
- Coronavirus vaccines, World Trade Organisation and the global divide
- Reform vs politics: The legal imbroglio around agriculture reforms
- Stock market: Should you accept a share buyback offer?
- If Indian media is under attack, it must share the blame for this
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