Page 1029 - Finance News
At Rs 4 lakh cr, bad loans exceed market value of PSBs
Bad loans of private sector banks are just about 6.6% of their total valuation
Federal Bank expects 15-20% growth in advances next fiscal
South India-based bank looks to cash in on rivals cleaning up their balance sheets
 "Federal Bank expects 15-20% growth in advances next fiscal")
Govt should set up AMC to deal with NPAs: Ficci
Recommendations submitted to DIPP part of a paper titled 'Executive Actions to enable Make in India'
 "Govt should set up AMC to deal with NPAs: Ficci")
PIB clears India Post's Rs 800 cr proposal for payments bank
India Post payments bank will primarily target unbanked and under-banked customers in rural, semi-rural and remote areas
 "PIB clears India Post's Rs 800 cr proposal for payments bank")
Banks in Odisha clock 63% of credit target by Dec
The achievement for the agriculture and allied sectors (direct) is Rs 15,698 cr, which is 60% of the credit target of Rs 26,226 cr for the current financial year
 "Banks in Odisha clock 63% of credit target by Dec")
Odisha govt for payments banks to open branches in un-banked areas
The state government has asked the Union Finance Ministry to instruct payments banks to set up branches in un-banked regions
 "Odisha govt for payments banks to open branches in un-banked areas")
PSBs' credit profile at risk without more capital: Fitch
The central bank had nudged all lenders, public and private, to identify all stressed accounts and significantly raise provisioning over two quarters
 "PSBs' credit profile at risk without more capital: Fitch")
Indian state-owned banks' credit profile at risk without more capital: Fitch
Lenders' provisioning has been weak and significant new capital is necessary to maintain credit profiles, the ratings agency says
 "Indian state-owned banks' credit profile at risk without more capital: Fitch")
ICRA expects bank stress to continue for three years
ICRA lowered the ratings of Oriental Bank of Commerce's outstanding long-term bonds, including Tier-I capital bonds
 "ICRA expects bank stress to continue for three years")
Banks' loans rose 11.5% in two weeks to Feb 5: RBI
Outstanding loans rose Rs 63,090 crores to Rs 71,53,000 crores in the two weeks to Feb 5
 "Banks' loans rose 11.5% in two weeks to Feb 5: RBI")
GSC Bank to sell insurance through agri cooperative societies
The scheduled bank is targeting to sell over 1,00,000 policies in the first year of launching
 "GSC Bank to sell insurance through agri cooperative societies")
PNB looking at off-loading stake in subsidiaries
PNB has subsidiaries like, PNB Housing Finance, PNB Gilts, and PNB Investment Services
CRISIL downgrades Allahabad Bank's capital bonds
It revised ratings for tier II bonds from 'AA+' to 'AA'
 "CRISIL downgrades Allahabad Bank's capital bonds")
Banks, NBFCs see pressure on gold loan business as prices turn volatile
Even though prices have started picking up, banks continue to remain a little cautious about growing the book because of the volatility gold has seen in the last couple of years
 "Banks, NBFCs see pressure on gold loan business as prices turn volatile")
Europe bond crisis casts shadow on Indian banks
Raising Tier-1 capital may be difficult due to CoCo bond trouble
 "Europe bond crisis casts shadow on Indian banks")
Anaesthesia shouldn't make banks comatose: Deepak Parekh
Surely the objective of the clean-up is to fix the financial rot, not to incapacitate banks: Parekh
 "Anaesthesia shouldn't make banks comatose: Deepak Parekh")
PNB to sell up to Rs 3,000 cr bad loans to ARCs in Q4
The bank is organising special camps for recovery at various place
 "PNB to sell up to Rs 3,000 cr bad loans to ARCs in Q4")
East-based banks kick in austerity measures, recovery drive to reduce cost
They're closing unviable branches, paring ad spends and hiring, while being cautious about credit growth
 "East-based banks kick in austerity measures, recovery drive to reduce cost")
ICAI says banks selecting own auditors behind NPA mess
Says lack of proper appointment of auditors is one of the reasons in escalation of NPAs
 "ICAI says banks selecting own auditors behind NPA mess")
India plans to inject more funds into state banks as bad loans soar
Govt may infuse as much as $34 billion more as lenders' balance sheets take a hit on provisioning