Page 1012 - Finance News
Foodgrain scam: RBI asks SBI group for provisioning of loans
30-odd banks led by the State Bank of India are now staring at heavy losses from the unfolding food scam in Punjab
 "Foodgrain scam: RBI asks SBI group for provisioning of loans")
Non-bailable warrant issued against Mallya
ED likely to send request to CBI for Interpol notice within a week
 "Non-bailable warrant issued against Mallya")
RBI tweaks rules on bank fraud provisioning to ease burden
Under normal circumstances, banks should make provision immediately when a fraud is detected
 "RBI tweaks rules on bank fraud provisioning to ease burden")
SBI chairman doesn't foresee stiff competition from new niche banks
Arundhati Bhattacharya said that neither payment banks nor small finance banks seem to have yet devised a business model that can be termed as viable
 "SBI chairman doesn't foresee stiff competition from new niche banks")
RBI likely to go for 25 bps rate cut on August 9: BofA-ML
A further easing of 25 bps is likely as consumer price index inflation came in at a below-expected 4.8% for March
Banks to share all transaction details in standard format
As revenue intelligence and central security agencies looking into money laundering and financial fraud cases
 "Banks to share all transaction details in standard format")
 "Reserve Bank moves to eliminate sharp currency volatility")
Uniform definition for bad loans on the cards
The BIS proposal assumes significance amid efforts from Indian banks and other authorities to recover loans from wilful defaulters
PSBs may face further stress on asset quality: Moody's
Banks have started classifying non-viable loans as bad assets as per RBI norms, which has started impacting their balance sheet
 "PSBs may face further stress on asset quality: Moody's")
India 'one-eyed' king in land of blind, says Rajan
I think we have still to get to a place where we feel satisfied: Raghuram Rajan
 "India 'one-eyed' king in land of blind, says Rajan")
Revival of state PSUs, discoms crucial to sustain financial health: RBI
RBI report says 30% of state-level public enterprises are incurring losses, and are adversely impacting state ?nances
 "Revival of state PSUs, discoms crucial to sustain financial health: RBI")
DCB Bank Q4 net profit up 10%
Gross NPA down to 1.51% of gross advances, from 1.76% in the same quarter last year
 "DCB Bank Q4 net profit up 10%")
Land fragmentation major hurdle in rural credit absorption: S S Mundra
The RBI deputy governor said rural credit distribution imbalance is another problem that affects rural development
 "Land fragmentation major hurdle in rural credit absorption: S S Mundra")
DCB Bank Q4 net climbs 10.5% to Rs 70 crore
Total income of the company grew 19.86% to Rs 509.56 crore, from Rs 425.12 crore a year ago
Must Read: Chanda Kochhar's inspiring letter to her daughter
ICICI Bank's CEO and MD's advice to her daughter on how to deal with situations in life
 "Must Read: Chanda Kochhar's inspiring letter to her daughter")
India world's largest recipient of remittances in 2015: World Bank
This despite a $1 bn drop in remittances from previous year
 "India world's largest recipient of remittances in 2015: World Bank")
Kotak Bank to retain 6% interest on savings a/c
Other lenders such as YES Bank, IndusInd Bank, RBL Bank offer more than 4% on savings bank account
 "Kotak Bank to retain 6% interest on savings a/c")
RBI for proper monitoring of foreign direct investment
A company can invest up to a certain percentage of its net worth (equity plus reserves) in overseas subsidiaries and, hence, there is no absolute cap prescribed by RBI
 "RBI for proper monitoring of foreign direct investment")
Nabard credit support to Chhattisgarh touches Rs 2,816 cr
Financial assistance for agriculture and rural development in 2015-16 had been significantly less
 "Nabard credit support to Chhattisgarh touches Rs 2,816 cr")