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Banking and Finance News

Embattled Yes Bank’s bad loans swell on regulatory scrutiny

Gross non-performing assets assessed by the Reserve Bank of India were 32.77 billion rupees ($457 million) higher than Yes Bank had disclosed as of March 31.

RBI puts DHFL under administrator, to initiate insolvency proceedings soon

The central bank also appointed R. Subramaniakumar, the ex-MD and CEO of Indian Overseas Bank as the administrator of the troubled HFC.

Rs 80,000 crore fall in bad loans for PSBs, pvt banks see NPAs rise by `6,000 crore’

The decline in gross NPAs of banks had come after banks reported an 18.9 per cent rise in bad loans to over Rs 10 lakh crore during the second quarter of last year.

RBI Governor Shaktikanta Das faces an increasingly tough balancing act

Das, overseeing what was until recently the world’s fastest-growing major economy, has worked tirelessly to restore relations with the government after a bitter public spat led his predecessor Urjit Patel to quit.

Government notifies rules under insolvency law for resolution of financial service providers

The latest move comes against the backdrop of instances of financial stress faced by certain entities that are into financial services.

Union Bank posts Rs 1,194 crore Q2 loss

Total income for the September quarter rose to Rs 10,556.57 crore from Rs 9,438.26 crore in the same period a year ago, the bank said in a regulatory filing.

Banks Board Bureau recommends names for heading three state-owned banks

Banks Board Bureau (BBB) recommended names of Sanjiv Chadha, L V Prabhakar and Atanu Kumar Das for the post of managing director and chief executive officer (MD & CEO) of three state-owned lenders -- Bank of Baroda, Canara Bank and Bank of India.

For 3 PSU banks: BBB recommends 3 candidates as CEOs

BBB, the recruitment body for top officials of PSU banks and insurance companies, said AS Rajeev and Peruvemba Ramchandra Seshadri are on the reserve list.

July-Sept quarter growth set to fall to 4.2 per cent, say reports

State Bank of India (SBI) and Nomura Global Markets Research, in their respective research reports, projected the country’s GDP growth for July-September to decelerate to 4.2 per cent, the lowest quarterly growth level in the 2011-12 (base year) series.

Check fixed deposit rates of SBI, HDFC Bank, ICICI Bank and Bank of Baroda

We take a look SBI, HDFC Bank, ICICI Bank and Bank of Baroda and compare the term deposit rates that are being offered by them.

‘Mutual funds exposure to NBFCs falls Rs 79,000 crore since June 2018’

While the amount has reduced, the percentage share also fell from 19 per cent in July 2018 to 12.8 per cent in October 2019, a Care Ratings report said.

LIC invites bids for merchant bankers for stake sale in ‘unlisted company’

As the crossholding rules of market regulator Sebi applies to all the four promoters, they will have to bring down the stake in UTI Mutual Fund below 10 per cent and give board seats.