Somasroy Chakraborty
 "Somasroy Chakraborty")
Somasroy Chakraborty
Page 12 - Somasroy Chakraborty
United Bank incurs loss of Rs 489.5 crore in Q2
Provisions quadruple as asset quality deteriorates sharply
 "United Bank incurs loss of Rs 489.5 crore in Q2")
UBI incurs loss of Rs 489.5 crore in Q2
Provisions quadruple as asset quality deteriorates sharply
 "UBI incurs loss of Rs 489.5 crore in Q2")
Centre sets Rs 1-lakh-cr retail loan disbursal target for PSBs
To aid economic recovery, loans to be offered at low interest rates
 "Centre sets Rs 1-lakh-cr retail loan disbursal target for PSBs")
Initial minimum capital of Rs 500 cr is quite reasonable: Sanjiv Bhasin
Interview with General Manager & CEO, India, DBS Bank
 "Initial minimum capital of Rs 500 cr is quite reasonable: Sanjiv Bhasin")
Foreign lenders wait for better clarity
Stamp duty relaxation does not find any mention in central bank's framework for setting up a Wholly-Owned Subsidiary
 "Foreign lenders wait for better clarity")
SBI follows HDFC Bank, raises base rate by 20 bps
Rate hikes follow RBI's decision to raise repo rate by 25 bps
 "SBI follows HDFC Bank, raises base rate by 20 bps")
Banks set up 24x7 self-service branches
60,000 new customers now transact at ICICI Bank's electronic branches every month
 "Banks set up 24x7 self-service branches")
Allahabad Bank hikes deposit rates by 50-120 bps
The bank has not announced any revision in its base rate or minimum lending rate so far
 "Allahabad Bank hikes deposit rates by 50-120 bps")
Capital adequacy ratio of PSBs dip
As loan demand goes up, provision requirements also rise
 "Capital adequacy ratio of PSBs dip")
Allahabad Bank Q2 net profit up nearly 18% to Rs 275.81 cr
Net interest income during the quarter increased to Rs 1,309 crore
 "Allahabad Bank Q2 net profit up nearly 18% to Rs 275.81 cr")
Foreign banks wait for norms on fully-owned subsidiaries
Currently, foreign lenders are present in India only through branches or representative offices
 "Foreign banks wait for norms on fully-owned subsidiaries")
India may go back to being a market for opportunistic investments: Nainesh Jaisingh
Interview with Global co-head, PE, Standard Chartered Bank
 "India may go back to being a market for opportunistic investments: Nainesh Jaisingh")
Pvt banks take upfront MTM hit
But analysts believe PSBs will be worse hit and will report higher MTM losses plus a rise in restructured assets
 "Pvt banks take upfront MTM hit")
Somasroy Chakraborty: Soft loans will be hard on the exchequer
The finance ministry's proposal to recapitalise state-owned banks to offer cheaper loans in the festive season is unwarranted and unwise
L&T Finance Holdings Q2 net profit rises 8.4%
Rise in credit costs cap profit growth
SBI resumes discounting LCs issued by other banks
LC preferred by traders as it allows seller to receive payments immediately after goods are shipped
 "SBI resumes discounting LCs issued by other banks")
Axis Bank net rises 21%
Posts higher margin, interest income; bad loans rise during September quarter
 "Axis Bank net rises 21%")
HSBC to exit Indian retail broking and depository biz
The move is part of HSBC's global strategy to review and exit some businesses to cut costs
 "HSBC to exit Indian retail broking and depository biz")
Newsmaker: Arundhati Bhattacharya
An employee-friendly boss
 "Newsmaker: Arundhati Bhattacharya")
Repo rate rise likely to continue this festive season
But RBI may introduce more measures to reverse tight liquidity conditions
 "Repo rate rise likely to continue this festive season")
