Page 1096 - Finance News
RBI imposes penalty of Rs 5 lakh on Muthoottu Mini Financiers
Fine for violation of various directions and orders issued by RBI from time to time
 "RBI imposes penalty of Rs 5 lakh on Muthoottu Mini Financiers")
Forex reserves decline by over $1 bn at $353 bn
Rupee breaches 64 again, falls near 2-month low
 "Forex reserves decline by over $1 bn at $353 bn")
More rate cuts needed for banks to lower lending rates: ICRA
An early cut may be warranted, says Naresh Takkar, MD, ICRA
Bank of Baroda sets MSME lending target of Rs 75,000-cr
The bank had recently organised a costumer meet at Ahmedabad for MSME entrepreneurs to appraise benefits given by BoB to the sector
 "Bank of Baroda sets MSME lending target of Rs 75,000-cr")
IDFC gets banking licence from RBI
Only the second lender to enter banking sector in more than a decade
 "IDFC gets banking licence from RBI")
Bank lending to real estate slows down
Banks have reduced exposure to the commercial real estate sector as it struggles with rising inventory
 "Bank lending to real estate slows down")
 "More national discretion to supervisory units: RBI")
Moody's downgrades OBC's baseline credit assessment
Moody's stated that OBC's impaired loan ratio rose to 18.7% of gross loans at end-March 2015 from 14.8% a year ago
 "Moody's downgrades OBC's baseline credit assessment")
RBI lifts restrictions on FIIs to buy shares in BoB
Equity shares of Bank of Baroda can now be purchased through primary market and stock exchanges
 "RBI lifts restrictions on FIIs to buy shares in BoB")
Lakshmi Vilas Bank to raise Rs 350-cr by September
Looks at branch expansion including in North India
 "Lakshmi Vilas Bank to raise Rs 350-cr by September")
Indian Bank Q1 net up 4% at Rs 215 crore
The rise in profit was attributed to provisioning towards wage revision and unhedged foreign currency exposure
 "Indian Bank Q1 net up 4% at Rs 215 crore")
Lakshmi Vilas Bank Q1 net up 43% at Rs 40.25 crore
Total income moved up to Rs 693.05 crore, an increase of 18.39%
RBI begins probe into diversion of agriculture loans
Regulator concerned at scale of borrowers using the subsidised money for other purposes; wants to assess extent and how to check this
 "RBI begins probe into diversion of agriculture loans")
ARCIL to raise $500 mn capital
Funds will be used to acquire non-performing loans from financial sector players in the country
Bandhan plans to tap MSME business in South India
Bank will begin with 14 branches in five southern states, when it is launched on Aug 23 by President Mukherjee
 "Bandhan plans to tap MSME business in South India")
Govt may permit 100% foreign investment in white-labelled ATM operations
The move is aimed at increasing the number of ATMs in smaller cities and towns
 "Govt may permit 100% foreign investment in white-labelled ATM operations")
Gold loan firms worried, seek part-payments
Banks and NBFCs will scale down their loan-to-value ratio for gold if prices further go down
 "Gold loan firms worried, seek part-payments")
BOI to raise upto Rs 6, 000 cr via tier I, II capital bonds
Gets shareholders' nod for equity offer, debt capital offering
 "BOI to raise upto Rs 6, 000 cr via tier I, II capital bonds")
HDFC Bank Q1 net up 21%, bad loans rise marginally
Gross NPA rises to 0.95% from 0.93% in the March quarter
 "HDFC Bank Q1 net up 21%, bad loans rise marginally")
Ample liquidity triggers fear of liquidity tightening steps by RBI
Weighted average call money rate stood at 6.84% on Tuesday compared with 7.08% yesterday