Page 1006 - Finance News
Why Raghuram Rajan deserves a second term
What differentiates Rajan from his predecessors is his proactive steps in anticipating a problem and coming up with out-of-the-box solutions.
 "Why Raghuram Rajan deserves a second term")
Saraswat Bank donates Rs 1 cr relief for drought in Maharashtra
Prevailing drought situation has been a major problem causing shortage of water across the country
 "Saraswat Bank donates Rs 1 cr relief for drought in Maharashtra")
Bankruptcy Code positive financial sector reform: Nomura
Japanese financial services major says there are multiple laws dealing with insolvency in India which lead to delays
 "Bankruptcy Code positive financial sector reform: Nomura")
Will make list of wilful defaulters public: RBI Governor
He also said that a new mechanism is being put in place for out-of-court settlement of bad loan-related disputes
 "Will make list of wilful defaulters public: RBI Governor")
Over-regulation leads to shadow banking: Rajan
RBI governor says entrepreneurship in the country should not be killed
Andhra Bank Q4 net profit declines by 72% to Rs 51.60 crore
The management has provided for Rs 1,023 crore in provisions and contingencies, an increase of 37.2% over Rs 818 crore in the corresponding previous quarter
 "Andhra Bank Q4 net profit declines by 72% to Rs 51.60 crore")
South Indian Bank announces tie up with National Australian Bank
Deal enables faster, hassle-free online inward remittances; NAB to be its main banking correspondent in Australia
 "South Indian Bank announces tie up with National Australian Bank")
IDFC Bank, parent merger on cards
NBFCs gear up to apply for on-tap bank licences
 "IDFC Bank, parent merger on cards")
IDBI Bank first PSB to open banking unit at GIFT City's IFSC
Bank aims to provide foreign currency funding facility to its Indian clients from the GIFT City
 "IDBI Bank first PSB to open banking unit at GIFT City's IFSC")
DCB Bank to double business in three years
Bank to continue focus on lending to retail and SME; with a CAR of 14.11%, it does not need fresh capital till Sept 2017
 "DCB Bank to double business in three years")
MCLR being used by banks to woo corporates
Bankers say they are able to play on risk premium and offer differential pricing to customers under MCLR
 "MCLR being used by banks to woo corporates")
Big firms left out of on-tap bank licence
RBI's draft guidelines want 60% of a group's income from financial services
 "Big firms left out of on-tap bank licence")
New Development, ICICI ink 'preferred partner' pact
ICICI Bank is the first Indian bank to sign an MoU with NDB
 "New Development, ICICI ink 'preferred partner' pact")
Credit Suisse sees limited impact of FCNR redemption
Banks that had lent cash for subscribing to FCNR scheme would now pull back loans and at the same time, the RBI will pay the banks in rupees
 "Credit Suisse sees limited impact of FCNR redemption")
SBI launches card-less payment solution for offline transactions
The solution will enable customers to make digital payments at offline stores by scanning a QR code on their smartphones
 "SBI launches card-less payment solution for offline transactions")
Banks look at Winsome's customers to recover dues
Exploring legal steps to bring back promoter to India from Dubai
 "Banks look at Winsome's customers to recover dues")
 "Firms getting more disciplined on currency hedging")
Cabinet approves MoU between RBI and Central Bank of UAE
RBI and the Central Bank of UAE will consider signing a bilateral Currency Swap Agreement
 "Cabinet approves MoU between RBI and Central Bank of UAE")
Canara Bank revises lending rates based on MCLR
Several banks including country's largest lender SBI have announced changes in their MCLR rates
 "Canara Bank revises lending rates based on MCLR")
Wilful defaulters owe Rs 66,000 cr to govt banks
Rs 1.73 lakh cr of public sector bank money stuck in top 100 non-performing accounts as of Dec 2015
 "Wilful defaulters owe Rs 66,000 cr to govt banks")