Page 1078 - Finance News
In Bengal, a rice economy rots away on food habits, subsidy
Mill closures swell bank NPAs
 "In Bengal, a rice economy rots away on food habits, subsidy")
Fitch Cuts viability rating for PNB, warns IDBI vulnerable to downgrade
Affirms issuer default rating for nine banks including SBI, ICICI Bank
 "Fitch Cuts viability rating for PNB, warns IDBI vulnerable to downgrade")
YES Bank rejigs organizational structure
Retail business head Pralay Mondal get addl charge of Commercial Business Banking; Rajanish Prabhu to lead bank's entry into credit cards
 "YES Bank rejigs organizational structure")
Base rates: RBI issues draft norms for marginal cost computation
IBA to finalise components of spread over and above base rate and to ensure uniformity in lending rate calculations
 "Base rates: RBI issues draft norms for marginal cost computation")
Bank employees to go on strike tomorrow
Banking ops to be affected; unions say ptotest against govt's anti-labour policies
 "Bank employees to go on strike tomorrow")
Financial services to be hit by tomorrow's nationwide strike
Around 13 lakh employees from 25 public sector banks, 11 private sector banks and nine foreign banks will be on strike
Yes Bank to enter credit cards space by June
The bank has hired Rajanish Prabhu to lead the division
 "Yes Bank to enter credit cards space by June")
Women customers next big opportunity for banks, NBFCs
Financial independence of women is next area where our policymakers need to think really hard
 "Women customers next big opportunity for banks, NBFCs")
Naming those too big to fail
SBI, ICICI named systemically important banks in India and required to maintain higher levels of capital; both rule out need for immediate fund raising
 "Naming those too big to fail")
HDFC Bank slashes base rate to 9.35%
ICICI Bank and State Bank of India have a base rate of 9.7%
 "HDFC Bank slashes base rate to 9.35%")
PSBs must use market to raise risk capital: RBI official
RBI executive director N S Vishwanathan hinted that PSB's dependence on the govt should become less over period
 "PSBs must use market to raise risk capital: RBI official")
Govt to infuse Rs 947 cr in Canara Bank
Earlier this month, the government decided to infuse a total of Rs 20,088 crore in 13 public sector banks
 "Govt to infuse Rs 947 cr in Canara Bank")
Banks go slow on issuing overdraft in PMJDY accounts
Infrequent transactions, lack of enough balance reasons for slow issuances of overdraft
 "Banks go slow on issuing overdraft in PMJDY accounts")
Banks collect Rs 500 cr under PMJDY in Odisha
The latest SLBC report claims to have achieved 100% saturation in all the 30 districts of the state
 "Banks collect Rs 500 cr under PMJDY in Odisha")
Axis Bank cuts deposit rates by 50 bps
HDFC Bank also cut its base rate to 9.35%
SBI, ICICI Bank receive domestic systemically important banks' status
RBI had announced framework for dealing with D-SIBs in July 2014 that requires RBI to disclose names of recipient banks
Government plans to amend RBI Act by Feb to set up monetary panel
Retiring finance secy Mehrishi said the composition of the panel would reflect the views of Rajan, the government and lawmakers, but details would be disclosed first to the parliament
 "Government plans to amend RBI Act by Feb to set up monetary panel")
Monetary policy panel appointments: FinMin, RBI agree on key change
The panel likely to have staggered induction of external appointees; Cabinet note likely soon
 "Monetary policy panel appointments: FinMin, RBI agree on key change")
Autonomy for govt banks remains on paper
FinMin sets target for MUDRA loan, Jeevan Suraksha gift cheques
Rajan hints at rate cut, says inflation down quicker than expected
Central bank keeping a watch on data to see how much room is there for further easing of the monetary polic
 "Rajan hints at rate cut, says inflation down quicker than expected")