Page 1042 - Finance News
IndusInd Bank, PayU India tie-up for digital banking services
Announcements about new products and services under this partnership will be made in next 4-6 months
 "IndusInd Bank, PayU India tie-up for digital banking services")
Refinancing from Mudra expected to remain muted in FY16
While banks get loans from Mudra at 6.72%, they are required to lend it at base rate, which was why banks did not find the refinance scheme attractive
 "Refinancing from Mudra expected to remain muted in FY16")
IndusInd Bank Q3 net up 30% to Rs 581 cr
Total income of the lender increased to Rs 3,766.7 crore during the quarter under review
 "IndusInd Bank Q3 net up 30% to Rs 581 cr")
Bank of Maharashtra to raise Rs 1,000 cr via tier-II bonds
According to a Fitch Ratings report, Indian banks need $140 billion capital to ensure full compliance with the Basel-III norms by 2018-19
 "Bank of Maharashtra to raise Rs 1,000 cr via tier-II bonds")
CDC invests Rs 330 cr in Janalakshmi Financial
CDC, a microfinance institution, is poised to becoming a small finance bank
 "CDC invests Rs 330 cr in Janalakshmi Financial")
Bank of Baroda pays Rs 95 cr as interest on Basel-III bonds
The bank made the payment through NEFT to 75 beneficiaries
 "Bank of Baroda pays Rs 95 cr as interest on Basel-III bonds")
Indian Bank plans to raise around Rs 1,100 crore
Bank to raise Basel III compliant Tier II Bonds
 "Indian Bank plans to raise around Rs 1,100 crore")
FSS partners with Montran to provide Wholesale Payments Solutions for Banks
Agreement to enable FSS to provide customised solutions that will address Wholesale Payment needs of banking industry
 "FSS partners with Montran to provide Wholesale Payments Solutions for Banks")
IOB to shut 10 regional offices to improve efficiency
The bank has 59 regional offices and 7 zonal offices
 "IOB to shut 10 regional offices to improve efficiency")
Credit growth remains in double-digits for second fortnight
Outstanding loans grew to Rs 70,16,997 crore from Rs 63,18,524 crore a year ago
 "Credit growth remains in double-digits for second fortnight")
LIC to launch Jeevan Shikhar, close-ended plan
Loan facility is also available under this single premium plan
 "LIC to launch Jeevan Shikhar, close-ended plan")
India Post Payments Bank receives 40 partnership proposals for new venture
Under the Payments Bank, the initial plan is to have 650 main branches where the department has head or bigger post offices. Subsequently, 25,000 'spoke' branches will be set up
 "India Post Payments Bank receives 40 partnership proposals for new venture")
Urjit Patel to be RBI deputy governor for 3 more years
His term as Deputy Governor was to end on Jan 11
 "Urjit Patel to be RBI deputy governor for 3 more years")
Strike of PSU bank' staff hits work partially
Affects cash handling and clearing of cheques in some places
 "Strike of PSU bank' staff hits work partially")
 "Govt to prematurely redeem WPI bonds")
PIB to consider postal dept's Rs 800 cr payment bank proposal
The pilot for payments bank is set to start from January 2017 while full-fledged operations may start by March 2017
 "PIB to consider postal dept's Rs 800 cr payment bank proposal")
PSB employees strike disrupts banking operations partially
Clerical staff stays off work for a day to protest violation of bilateral settlement agreement by associate banks of SBI
 "PSB employees strike disrupts banking operations partially")
PSU bank employees on strike, operations hit partially
Employees are protesting violation of bilateral settlement agreement by associate banks of SBI
 "PSU bank employees on strike, operations hit partially")