Page 1098 - Finance News
Banks to start cross-checking KYC scores, too
These scores and checks by credit bureaus can help in weeding out violations of KYC or anti-money laundering norms
 "Banks to start cross-checking KYC scores, too")
SBI sees no rate cut by RBI on Aug 4
The central bank has said it will watch out for the data, including inflation, and the monsoon progress before any change in its policy rates
 "SBI sees no rate cut by RBI on Aug 4")
SBI plans to offer 3% profit to staff
This is part of a talent retention and motivaton initiative, the bank said
 "SBI plans to offer 3% profit to staff")
Profits squeezed, banks' appetite for government bonds cools
Retreat could raise the government's borrowing costs
 "Profits squeezed, banks' appetite for government bonds cools")
Weak rains force central bank to reverse farm loan norms
RBI goes back to direct agri loan target after govt expresses concern
 "Weak rains force central bank to reverse farm loan norms")
RBI tweaks credit card billing norms
However, the banks will calculate the late payment fees etc from the date the bill would have been due
 "RBI tweaks credit card billing norms")
Concurrent audit guidelines for banks revised
Concurrent audit means doing examination of the financial transactions at the time of happening or parallel with transaction
 "Concurrent audit guidelines for banks revised")
 "RBI clarifies on foreign institutional investments in security receipts")
Payments bank licence: Mor panel sets the ball rolling, submits its report to RBI
Thorat panel for small finance banks to give its report soon
Govt sanctions Rs 700 cr additional fund for regional rural banks capitalisation
The validity period for recapitalisation of RRBs has been extended to 2016-17
 "Govt sanctions Rs 700 cr additional fund for regional rural banks capitalisation")
Vietnam's Eximbank to handle India's $300 million textile loan
Each loan carries a 10-year span and an interest rate of 2% per annum
 "Vietnam's Eximbank to handle India's $300 million textile loan")
PSU banks are fast approaching perform or perish zone
With huge capital requirements and government's reluctance to blindly capitalise PSU banks, the focus will have to turn to performance
 "PSU banks are fast approaching perform or perish zone")
RBI constitutes committee on financial inclusion
Committee's terms of reference will include to review existing policy of financial inclusion including supportive payment system
RBI's liquidity tightening stance stumps market
Bond dealers believe central bank trying to nuance rates and not allowing market dynamics to decide rates
 "RBI's liquidity tightening stance stumps market")
Indian Bank's gross NPA could peak at 6%: India Ratings
Bank had reported GNPAs of 4.4% in March 2015, up from 3.67% in March 2014
 "Indian Bank's gross NPA could peak at 6%: India Ratings")
Corporate funding in solar sector down to $5.9 billion in Q2 2015
A total of 28 VCs invested in Q2 2015
 "Corporate funding in solar sector down to $5.9 billion in Q2 2015")
Lakshmi Vilas Bank cuts deposit rates by 0.3%
The bank reduced the rate of interest in the 181-270 day maturity by 0.30% to 8% per annum, while in the 91-180 day maturity, it has effected a 0.25% reduction to 7.75%
 "Lakshmi Vilas Bank cuts deposit rates by 0.3%")
After making loss, Bank of India reports RBI against its auditors
Says it was not allowed to treat Essar loan as standard like others lenders; Auditors say they have gone by books
For money, don't huddle: RBI to banks
'Space out when raising funds; Sebi mulling securitisation platform'
 "For money, don't huddle: RBI to banks")
Mittal favours payment bank licence for telcos over banks
Payment banks will provide basic savings, deposit, payment and remittance services to people who currently do not have a bank account, including millions of migrant workers
 "Mittal favours payment bank licence for telcos over banks")