Page 1000 - Finance News
Do not drag RBI governor into unnecessary controversies: India Inc
The statement comes in the wake of strong attack on Raghuram Rajan by BJP leader Subramanian Swamy
 "Do not drag RBI governor into unnecessary controversies: India Inc")
 "Restructure debt in 90 days: RBI")
 "Bankruptcy Code of limited use for current asset woes: Moody's")
ATMs to have chip-and-pin based infra: RBI
RBI says the move will enhance the safety and security of transactions at ATMs
 "ATMs to have chip-and-pin based infra: RBI")
New committee swipes towards cashless society
Aims to increase card acceptance infrastructure, fix interchange fee for credit cards
 "New committee swipes towards cashless society")
Payments bank dreams go awry before take-off
Of the 11 licence holders, only eight remain in the fray as concerns about profitability and rising competition are making them think twice before jumping in
 "Payments bank dreams go awry before take-off")
RBI to place compounding orders on website from June 1
The contraventions are compounded and orders are issued imposing an amount to be paid by the applicant
 "RBI to place compounding orders on website from June 1")
UCO Bank steps up turnaround effort
Falling Iran deposits, loan mix and stress in core sectors lead to high losses
 "UCO Bank steps up turnaround effort")
Rajan meets Jaitley ahead of monetary policy
The government will take a call on the appointment of its nominees to the Monetary Policy Committee
 "Rajan meets Jaitley ahead of monetary policy")
SBI to miss deadline for UPI launch
UPI aims to transform the digital money segment; it is set to make money transfers as simple as sending text messages
 "SBI to miss deadline for UPI launch")
SBI sees asset sales of Rs 2 lakh crore by India Inc
SBI said it expects asset sales of up to Rs 2 trillion by Indian Industry as part of the clean-up process
 "SBI sees asset sales of Rs 2 lakh crore by India Inc")
Profit pressure stops Tech Mahindra's payments bank plan
Cholamandalam and Dilip Shanghvi had also announced they would surrender their licences
 "Profit pressure stops Tech Mahindra's payments bank plan")
BoI March quarter net loss at Rs 3,587 cr as bad loans rise
This is the bank's third straight quarterly loss; reports record loss of Rs 6,089 cr for FY16, highest among PSU banks
 "BoI March quarter net loss at Rs 3,587 cr as bad loans rise")
PNB identifies 53 corporate accounts for sale to ARCs
To shun exposure to steel, textile till these turn around
 "PNB identifies 53 corporate accounts for sale to ARCs")
Axis Bank top brass to take 20-50% cut in variable pay
The decision to take a cut in variable pay came after the Q4FY16 results when the lender reported a decline in its net profit after 46 quarters
 "Axis Bank top brass to take 20-50% cut in variable pay")
 "Axis Bank raises $500 mn from its maiden green bonds")
RBI says 1/3rd of ATMs non-functional, warns of penal action
Most banks complain that without adequate user fees, ATMs are a loss-making business for them
 "RBI says 1/3rd of ATMs non-functional, warns of penal action")
High interest rates impacting industry, small biz: Sitharaman
The minister said she has already taken up the matter with the Finance Ministry and written to the Central Bank on the issue
 "High interest rates impacting industry, small biz: Sitharaman")
Banks Board Bureau chief says it's time for mergers
He said India's state-owned banks need to merge into half a dozen well-capitalised institutions that can underwrite economic growth
 "Banks Board Bureau chief says it's time for mergers")
Why lowering interest rates will not work for Indian economy
Unless banks get the confidence to lend, there is no way the economy will get the benefit of low interest rates
 "Why lowering interest rates will not work for Indian economy")