Page 1004 - Finance News
Bank of Baroda posts Rs 3,230 cr loss in Q4 as NPAs spike
Provisions zoomed up to Rs 6,857 crore from Rs 1,817 crore in the year ago period, on the back of gross NPA ratio moving up
 "Bank of Baroda posts Rs 3,230 cr loss in Q4 as NPAs spike")
Union Bank of India Q4 net profit plunges 78% as bad loans rise
Gross bad loans as a percentage of total loans increased to 8.70% in March quarter from 7.05% in December quarter
 "Union Bank of India Q4 net profit plunges 78% as bad loans rise")
Bank of Baroda posts Q4 loss on higher bad loans
The company reported a net loss of Rs 3,230 crores
No 'Lehman moment' possible in India; firewalls in place: Raghuram Rajan
Rajan also rejected calls for any immediate privatisation of public sector banks
 "No 'Lehman moment' possible in India; firewalls in place: Raghuram Rajan")
Banks in Odisha clock 87% annual credit target for FY16
Banks lent Rs 15,868.66 cr crop loan and Rs 1,915.36 cr term loan during the period
 "Banks in Odisha clock 87% annual credit target for FY16")
ICICI Bank reduces its equity in overseas units
Equity investment in UK & Canada drops from 11.8% in FY10 to 4.8% in FY16
 "ICICI Bank reduces its equity in overseas units")
Bank of Maharashtra slumps after Q4 net loss
Shares fell over 3% in early trade after the bank posted a net loss of Rs 119.84 crore
 "Bank of Maharashtra slumps after Q4 net loss")
PFS Q4 net jumps over threefold to Rs 49 crore
Promoted by PTC India, PFS is a Non-Banking Financial Company
 "PFS Q4 net jumps over threefold to Rs 49 crore")
Credit offtake of banks to pickup from next month: Vinod Rai
Banks Board Bureau to meet heads of public sector banks today to discuss bad loans issue
 "Credit offtake of banks to pickup from next month: Vinod Rai")
Branch offices of foreign entities need central bank nod
Permission of RBI will also be required for opening a BO/LO/PO in Jammu and Kashmir, North East region and Andaman and Nicobar Islands
Low growth, tardy legal system impeding NPA fight: Kotak
Kotak said both debt recovery tribunals and debt recovery appellate tribunals are "bottlenecks" that take time
 "Low growth, tardy legal system impeding NPA fight: Kotak")
RBI issues norms for voluntary surrender of licence by PSOs
According to the PSS Act, 2007, it is mandatory to seek authorisation from the Reserve Bank to commence or operate a payment system in the country
 "RBI issues norms for voluntary surrender of licence by PSOs")
RBI tweaks shareholding norms for private sector banks
Retains the cap on foreign ownership at 74%
 "RBI tweaks shareholding norms for private sector banks")
Revised code for bank customers to include mobile payments
The Code of Bank's Commitment to Customers could also include some advice regarding capping of charges
 "Revised code for bank customers to include mobile payments")
RBI plans to tighten rules for large corporate borrowers
The central bank released a discussion paper on the framework for enhancing credit supply to large borrowers; move to help mitigate risks for banks lending to a single corporate
 "RBI plans to tighten rules for large corporate borrowers")
Government gets open offer exemption in Allahabad Bank
The government had infused around Rs 690 crore in the public sector lender
 "Government gets open offer exemption in Allahabad Bank")
India's bad loans could be more than New Zealand's $170 bn economy
Banks' loan growth at 10.7% in last fiscal year ended March 31, was slowest in nearly two decades
 "India's bad loans could be more than New Zealand's $170 bn economy")
Policy making easy, political acceptance tougher part: Raghuram Rajan
Said policy formulation in an emerging market like India is a fairly basic economics task as such
 "Policy making easy, political acceptance tougher part: Raghuram Rajan")
Bank employees to go on strike on July 29
Move is to protest implementation of banking reforms; asks Centre & RBI to take criminal action against willful defaulters
 "Bank employees to go on strike on July 29")