Page 1076 - Finance News
Fragile PSBs to merge with strong peers if worries persist: FM
FM says the banking ssytem govt inherited is very challenging; NPAs a cause of concern, but no need to panic
 "Fragile PSBs to merge with strong peers if worries persist: FM")
Bumper insurance for Ganpati mandals in Maharashtra
Most popular mandal in Mumbai, Lalbaugcha Raja, takes Rs 51 crore cover
 "Bumper insurance for Ganpati mandals in Maharashtra")
ABN Amro seeks RBI nod to set up subsidiary
So far, three foreign lenders have expressed interest in taking up the subsidiary route
 "ABN Amro seeks RBI nod to set up subsidiary")
Low inflation sustainable this time, says R Gandhi
Says expectations of high inflation continue to remain at bay
 "Low inflation sustainable this time, says R Gandhi")
Bankers expect NPA crisis to worsen in two-three years: E&Y
Rise in NPAs or stressed assets numbers due to diversion of funds to unrelated business or frauds
 "Bankers expect NPA crisis to worsen in two-three years: E&Y")
Using CRLIC data, RBI trains guns on plugging gaps in NPA recognition
Annual financial inspection underway
 "Using CRLIC data, RBI trains guns on plugging gaps in NPA recognition")
Cabinet may decide on automatic FDI route for white label ATMs
White labelled ATMs are set up by private non-bank companies that own and operate their own brand of ATMs
 "Cabinet may decide on automatic FDI route for white label ATMs")
Indian Overseas Bank launches Rupay MUDRA Debit Card
The debit card can be utilised by MSMEs for meeting working capital requirements
 "Indian Overseas Bank launches Rupay MUDRA Debit Card")
With Iran sanctions set to be lifted, UCO Bank braces up for hit in margin
The bank is set to lose out on interest-free deposits of around Rs 15,000 cr: around 8% of its deposits
 "With Iran sanctions set to be lifted, UCO Bank braces up for hit in margin")
NPA crisis to continue for another two-three years: E&Y survey
72% respondents believe NPA crisis is set to worsen
 "NPA crisis to continue for another two-three years: E&Y survey")
OBC, IOB, YES Bank to be most affected by new base rate methodology: Moody's
All these lenders have a greater proportion of term deposits in their funding base
 "OBC, IOB, YES Bank to be most affected by new base rate methodology: Moody's")
 "Rupee must fall more to save exports: SBI chief")
 "'RBI has less stringent norms on systemically important banks'")
State Bank of Hyderabad sees fall in bulk loans
There has been a de-growth of around Rs 3,000 cr in bulk loans so far this year
NPCI launches new RuPay credit cards co-branded with Mudra Bank
NPCI is also planning to raise around Rs 100 cr through private placement by end of this year
 "NPCI launches new RuPay credit cards co-branded with Mudra Bank")
Doha Bank ties up with Anil Ambani's Reliance Group
Agreement has been signed by Anil Ambani Chairman Reliance Group and Doha Bank Group CEO R Seetharaman
 "Doha Bank ties up with Anil Ambani's Reliance Group")
 "Rupee, yields are expected to fall")
Big opportunity in small & payment banks for IT firms: Nasscom
Nasscom warned that IT firms face the challenge of delivering cost-effective innovative solutions to these lenders
 "Big opportunity in small & payment banks for IT firms: Nasscom")
RBI's buyback, switch of g-sec in issuances calendar not seen disrupting market
Central bank also planning to issue 40-year govt bonds to cater to demand from long term investors
 "RBI's buyback, switch of g-sec in issuances calendar not seen disrupting market")
JPMorgan AMC waives fees on trouble-hit schemes
The fund house has imposed redemption cap of one per cent of total outstanding units on these schemes
 "JPMorgan AMC waives fees on trouble-hit schemes")