Page 1063 - Finance News
Sundaram BNP Paribas Home Finance reduces deposits rates by 25 basis points
It had reduced prime lending rate on home loans by 25 basis points earlier
 "Sundaram BNP Paribas Home Finance reduces deposits rates by 25 basis points")
7,035 wilful defaulters owe Rs 59,000 cr to PSU banks
SBI and Central Bank of India account for bulk of such borrowers
 "7,035 wilful defaulters owe Rs 59,000 cr to PSU banks")
No relaxation in CRR, SLR norms, RBI tells small finance banks
Currently, about 70% of the borrowings of microfinance institutions are in the form of bank loans
 "No relaxation in CRR, SLR norms, RBI tells small finance banks")
Despite early start & deeper penetration, PSBs trail pvt banks: Nayak
PSBs are facing a double whammy in the form of lower credit spread and lower fee income than private banks
 "Despite early start & deeper penetration, PSBs trail pvt banks: Nayak")
AIBEA to launch campaign alleging centre moves to privatise IDBI
Instead of recovering NPAs, the govt is in a move to divest stake in the Bank which has Rs 2,60,000 crore of deposits, alleges the association
 "AIBEA to launch campaign alleging centre moves to privatise IDBI")
DCB Bank alters expansion plan after stock slide
The private sector lender has decided to double number of branches in two years; earlier, it had planned to do so in one year
 "DCB Bank alters expansion plan after stock slide")
Axis Bank internally probing forex scam
Investigations by ED in the Bank of Baroda case has now extended to 10 more banks, including Axis Bank
 "Axis Bank internally probing forex scam")
RBI back to mopping up foreign exchange through spot route
Forex reserves rise $2.26 bn to $353 billion
 "RBI back to mopping up foreign exchange through spot route")
Banks' loans rose 9.5% annually in two weeks to Oct 2: RBI
Non-food credit rose 1.39 trillion rupees to 67.43 trillion rupees
 "Banks' loans rose 9.5% annually in two weeks to Oct 2: RBI")
DCB Bank to go slow with branch expansion plan
The lender had announced plans to double its branch network within 12 months
Central Bank of China awaits nod to set up branch in Mumbai
The Chinese bank has been awaiting for licence for over a year to open a branch in the city
 "Central Bank of China awaits nod to set up branch in Mumbai")
 "Pradhan Mantri Jan Suraksha schemes get 117 million enrolments")
Focus on nine more banks over money laundering issue
ED report names Axis Bank, DCB Bank, Dhanlaxmi Bank, ICICI Bank, IndusInd Bank, ING Vysya Bank, Kotak Mahindra Bank and YES Bank
 "Focus on nine more banks over money laundering issue")
Capital Local Area Bank eyes IPO in 2017
It has bagged licence for small finance bank
 "Capital Local Area Bank eyes IPO in 2017")
Digital wave makes banks re-align their hiring strategy
Recruit more from technology, digital analytics
 "Digital wave makes banks re-align their hiring strategy")
Reliance Capital and subsidiaries approve ESOPs worth Rs 150 cr
The ESOPs comprise of 646,080 shares of Reliance Capital and rest as phantom shares of operating subsidiaries in mutual fund and insurance, which aren't listed
 "Reliance Capital and subsidiaries approve ESOPs worth Rs 150 cr")
Citigroup reports 51% jump in profit as costs plunge
Total revenue in Citicorp declined 2%
 "Citigroup reports 51% jump in profit as costs plunge")
Maharashtra Bank allots 10.52 cr shares to govt for Rs 394 cr
Post the issuance, govt's holding in the bank would increase to 81.61%
 "Maharashtra Bank allots 10.52 cr shares to govt for Rs 394 cr")
Rs 2,000-cr fund to push financial inclusion: RBI
Institutions eligible for the fund are banks and NABARD
SFIO starts probe into BoB Rs 6,100-cr money laundering case
It is alleged that Rs 6,172 crore black money was remitted from Bank of Baroda to Hong Kong
 "SFIO starts probe into BoB Rs 6,100-cr money laundering case")