Page 1030 - Finance News
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
 "Public sector banks' solvency position worsens")
Apex court asks RBI to furnish list of defaulters
Details of those with dues of Rs 500 cr & above to be produced in a sealed envelope in 6 weeks
 "Apex court asks RBI to furnish list of defaulters")
 "Axis Bank moves away from bell curve system")
 "PSBs risk further downgrades: S&P")
RBI to visit banks incognito to check customer dealings
The central bank will also undertake a review of how banks have implemented Charter of Customer Rights
 "RBI to visit banks incognito to check customer dealings")
Repay loans in national interest: PNB chief to defaulters
The bank today declared the promoter of defunct Kingfisher Airlines, Vijay Mallya, as a wilful defaulter
SBI looks to woo Japanese business
SBI dedicated Japan desk offers wholesale and retail banking products like rupee funding for Japanese businesses and banks, as well as guidance on Indian companies and regulations.
 "SBI looks to woo Japanese business")
M&As off to a slow start, deal tally slumps 50% over 2015
there were 44 M&A transactions worth $1.7 billion in January this year as against 48 deals worth $3.4 billion in January 2015
 "M&As off to a slow start, deal tally slumps 50% over 2015")
NPAs set to rise, profits to be hit in fourth quarter: SBI chief
SBI chairman Arundhati Bhattacharya said non-performing assets would increase in the quarter ending March 2016
 "NPAs set to rise, profits to be hit in fourth quarter: SBI chief")
Public sector banks' bad loans equal defence, education, roads and health spending
If the unpaid loans made by India's public-sector banks were recovered, they would be enough to pay for India's 2015 spending on defence, education, highways, and health
BoB might sell assets, tap foreign bond market
The bank suffered a loss of Rs 3, 342 crore in the December quarter after setting providing for bad loans
 "BoB might sell assets, tap foreign bond market")
Banks now experimenting with ultrasonic sound waves for payment transfer
HDFC Bank-Tonetag testing the new payment mechanism
 "Banks now experimenting with ultrasonic sound waves for payment transfer")
BoB forex scam: RBI finds irregularities in banks' transactions
RBI has noticed several irregularities like non-submission and inordinate delays in filing of Suspicious Transaction Reports
 "BoB forex scam: RBI finds irregularities in banks' transactions")
Postal department has overtaken SBI on digital connectivity: Prasad
The postal department has got in-principle nod to start a payments bank, along with 10 other players
 "Postal department has overtaken SBI on digital connectivity: Prasad")
HSBC keeps headquarters in London, rejects move to Hong Kong
The decision will give a boost to London's status as a global financial centre
 "HSBC keeps headquarters in London, rejects move to Hong Kong")
PSBs provide eight times more for bad loans than private banks
Total provisioning made by state-owned banks stood at Rs 43,717 cr, while that of pvt banks was Rs 5,300 cr in Dec '15 qtr
 "PSBs provide eight times more for bad loans than private banks")