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Wednesday, January 20, 2021

‘Too big to fail’ list: SBI, ICICI Bank, HDFC Bank remain

January 20, 2021 6:08:24 am

According to analysts, too big to fail is a phrase used to describe a bank or company that’s so entwined in the economy that its failure would be catastrophic.

Bank of Maharashtra Q3 profit rises 14% to Rs 154 crore

January 19, 2021 5:22:15 pm

On the asset quality front, the bank recorded improvement with gross NPA declining to 7.69 per cent, or Rs 8,072.43 crore from 16.77 per cent, or Rs 15,746 crore.

CSB Bank Q3 net up 88%, provisions also soar

January 19, 2021 5:09:16 pm

The Kerala-based private sector lender's core net interest income grew by 61.8 per cent to Rs 155.2 crore during the reporting quarter, while the treasury profits helped in non-interest income more than doubling to Rs 116.6 crore.

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IT cos take the lead in strong Q3 show

January 18, 2021 5:29:05 am

Commentary from the managements at IT firms post the Q3 results has been more than encouraging; most believe the deal pipeline will continue to be strong and that they are well-positioned to exploits segments like digital and cloud.

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Bank credit grows 3.2% in this fiscal so far, deposits rise too

January 18, 2021 5:34:51 am

Bank deposits rose 8.5 per cent to Rs 147.27 lakh crore in the April-December 2020 period, as against an increase of 5.1 per cent a year ago, according to the recent data released by the Reserve Bank of India (RBI).

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HDFC Bank Q3 net profit rises 18.1%

January 17, 2021 12:58:03 am

The bank’s net revenues (net interest income plus other income) grew to Rs 23,760.8 crore for the quarter from Rs 20,842.2 crore in the same quarter a year ago.

RBI allows UCBs to refund share capital to members

January 14, 2021 3:05:33 am

“It has been decided in the interim to permit UCBs which maintain CRAR of 9 per cent or above to refund the value of share capital to their members or nominees or heirs of deceased members on demand,” the RBI said in a circular to UCBs.

FSR red flag: NPAs set to shoot up to 13.5% by Sept, more if severe stress

January 12, 2021 7:50:37 am

The FSR has warned that if the macroeconomic environment worsens into a severe stress scenario, the ratio may escalate to 14.8 per cent.

Co-operative banks must fearlessly face competition from private ones: Nitin Gadkari

January 11, 2021 4:22:16 am

The minister said that co-operative banks have enabled the common man to have the financial backing to be self-reliant. This, he said, has supported the economy of the country and the state.

FY21: Currency in circulation up 13% in first nine months

January 11, 2021 4:14:45 am

CiC grew by Rs 3,23,003 crore, or 13.2 per cent, to Rs 27,70,315 crore as on January 1, 2021 from Rs 24,47,312 crore as on March 31, 2020, according to recent data released by the Reserve Bank of India (RBI).

Eyeing faster resolution, govt may amend IBC to bring in pre-packs

January 10, 2021 2:07:14 am

A pre-pack is an agreement for a distressed company’s debt resolution between secured creditors and investors instead of a public bidding process, as under the Corporate Insolvency Resolution Process (CIRP) of the IBC.

SBI raises $600 million from overseas bond sale at 1.80% coupon

January 7, 2021 5:22:09 pm

The bonds issued through the SBI's London branch, will be listed on Singapore Exchange and India INX, the international bourse from BSE, the release said.

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Irdai to roll out standard home insurance policy

January 7, 2021 5:51:34 am

It also announced Bharat Laghu Udyam Suraksha that provides cover for the building/structures, plant and machinery, stock and other assets of enterprises where the total value of risk across all insurable asset classes at one location exceeds Rs 5 crore

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Insolvency and Bankruptcy Code: Lack of permanent heads a concern, deluge awaits once moratorium ends

January 2, 2021 6:01:09 am

On January 5, 2020, only five days into the year, the first president of the National Company Law Tribunal (NCLT), Justice M M Kumar, retired from his post. The insolvency body has been without a full-time president ever since.

Positive Pay System for cheque payment

Positive Pay System for cheques: Everything you need to know about the new rule for cheque payments

January 1, 2021 5:32:32 pm

New rules for cheque payment: Under the positive pay system, an issuer a cheque will have to electronically submit certain minimum details of the particular cheque (such as date, name of the beneficiary, payee and amount) to the drawee bank.

RBI says write-offs helped banks lower bad loans

December 30, 2020 3:02:18 am

Commercial banks in India managed to bring down their NPAs to 7.5 per cent of advances as of September 2020 from 8.2 per cent in March 2020 and 9.1 per cent in March last year.

Former DEA Secretary Atanu Chakraborty likely to be HDFC Bank chairman

December 30, 2020 3:01:48 am

Once approved by RBI, Chakraborty — a 1985 batch IAS officer of the Gujarat Cadre — may take over as the part-time chairman of HDFC Bank in January. The tenure of its current part-time chairperson Shyamala Gopinath will end on January 1.

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PNB puts three stressed accounts up for sale

December 28, 2020 6:15:35 am

The accounts are Mangalam Oil Industries with outstanding dues of Rs 10.77 crore, Alliance Fibres Ltd (Rs 18.31 crore) and Birsa Institute of Technology (Trust) (Rs 5.41 crore).

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RBI Guv asks banks to strengthen lending capacity by raising capital

December 24, 2020 3:00:21 am

The meeting, held through video conference, was attended by Deputy Governors of the RBI. The progress in the implementation of resolution framework for Covid-related stressed assets was also discussed.

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ICICI Bank unveils online platform for foreign businesses in India

December 22, 2020 3:25:54 pm

Infinite India platform offers banking solutions as well as value-added services such as incorporation of a business entity, corporate filings, licences and registrations, HR services, compliances and taxation among others, ICICI Bank said in a release.

PSBs scan older loans, may lead to more fraud discovery

December 22, 2020 3:00:10 am

Sources said banks are reviewing loan accounts, which have already been flagged for monitoring, and more large accounts are likely to be reported as fraud in the next couple of months.

Looking at various options, bad bank still in works: DEA Secy

December 19, 2020 2:30:04 am

DEA Secretary Tarun Bajaj said the government would continue with momentum on reforms which began right after the pandemic and the upcoming Budget will reflect that emphasis on economic reforms.

Credit uptake on path of recovery as India rebounds from Covid-19: BankBazaar report

December 18, 2020 7:33:11 pm

According to BankBazaar Moneymood 2021 report, 2020 started on a promising note, with recession of 2019 beginning to ease off in the first quarter (Q1) of the calendar. However, the Covid-19 pandemic brought regular life to a grinding halt towards the end of March.

Retail NPAs to be higher in H2FY21, to return to pre-COVID levels in FY22: Axis Bank

December 17, 2020 5:29:54 pm

The bank has been focusing largely on the secured assets front when it comes to new loans and the business has gone back to pre-COVID levels, while the riskier unsecured loans like the ones are credit cards is at 60-70 per cent of the pre-COVID levels.

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Shaktikanta Das calls for cash flow-based lending to boost credit access

December 17, 2020 3:02:41 am

“To improve the credit to GDP ratio, access to credit and cost of credit need to be addressed by lesser reliance on collateral security and greater cash-flow based lending,” Das said.