Page 1047 - Finance News
Bad loans turn worse in 2015; Banks bet on 'rainbow' reforms
Commercial banking industry is also gearing up to face competition from payments and small finance banks
 "Bad loans turn worse in 2015; Banks bet on 'rainbow' reforms")
Deloitte, KPMG, PWC empanelled for RBI's information systems audit
Panel to remain valid for three years, subject to a condition that firms continue to be on panel of approved auditors released by CERT-In team
 "Deloitte, KPMG, PWC empanelled for RBI's information systems audit")
Over 9,500 complaints pending with banking ombudsmen: RBI
A reply to an RTI query reveals 9,508 complaints were pending for resolution
 "Over 9,500 complaints pending with banking ombudsmen: RBI")
Small finance banks in rush to beat deadline
Capital Local Area Bank could be first to start operations by April, a year ahead of the target date
 "Small finance banks in rush to beat deadline")
 "Indian firms enjoyed cheaper funds in 2015")
Forex reserves down $1.4 bn to $351 bn
The rupee saw volatility in the week ended Dec 18. The currency had dropped to about 67 to a dollar
 "Forex reserves down $1.4 bn to $351 bn")
Bhanushali to head tech for Fino's payments bank
He joins the company as vice president for technology
Bank of Baroda picks E&Y to review KYC systems
Appoints strategic advisor for restructuring to help improve profitability
 "Bank of Baroda picks E&Y to review KYC systems")
SBI raises Rs 4,000 crore via tier-II bonds
Shares of SBI were trading at Rs 228.95 apiece on the BSE, down 0.41 per cent from its previous close
 "SBI raises Rs 4,000 crore via tier-II bonds")
Rajan flags concerns over corporate risks
Weak corporate balance sheets need monitoring, says Reserve Bank's Financial Stability Report
 "Rajan flags concerns over corporate risks")
World Bank might support India Post's payments bank
17 other financial bodies eye tie-up with proposed bank
 "World Bank might support India Post's payments bank")
 "Pre-2005 notes can be exchanged till June")
India has to brace for more volatility, currency war
The report warned that the world is heading towards more uncertainties and India, expected to show gradual recovery, should be prepared
 "India has to brace for more volatility, currency war")
Products with post-retirement returns to subscribers needed
The report also explained there is a need to align the investment framework for government employees
 "Products with post-retirement returns to subscribers needed")
Too much of financial inclusion push can hurt banking sector
Earlier, RBI had said banks, particularly PSBs, were not being fully compensated for the accounts being opened under the Pradhan Mantri Jan Dhan Yojana
Profit growth might moderate for HFCs
With scrip valuations at a premium to banks', analysts believe recent regulatory changes, plus sluggish demand in realty sector, might limit their prospects
 "Profit growth might moderate for HFCs")
Risks up for banking due to deteriorating asset quality: RBI
The RBI in its 12th Financial Stability Report released on Wednesday said the business of scheduled commercial banks slowed as there was a further decline in both deposit and credit growth
Banks see credit pick up as India Inc borrows again
India's top bankers expect growth of about 14% for the financial year ending March 2016
 "Banks see credit pick up as India Inc borrows again")
BoI plans to raise up to Rs 3,000 cr via tier-II bonds
However, the bank did not elaborate on usage of proceeds
 "BoI plans to raise up to Rs 3,000 cr via tier-II bonds")
Tamilnad Mercantile Bank AGM in January, will discuss IPO proposal
The bank is all set to hold six AGMs on Jan 29, 2016 due to the five years in between that didn't see an AGM
 "Tamilnad Mercantile Bank AGM in January, will discuss IPO proposal")