Page 1100 - Finance News

Axis Bank expects credit growth of 14% in FY16

The bank had recorded a loan growth of 22% in the fiscal ended March 2015

Kotak Mahindra Bank enters social commerce space

The lender has entered into a tie-up with PVR Cinemas whereby its customers can tweet for tickets for Bajrangi Bhaijaan

Banks to auction mortgaged assets to recover Winsome Diamonds dues

Company claims it is wrongly being treated as 'wilful defaulter'

BRICS bank to start lending in local currency by April: Kamath

Says decision to open membership for other countries will be taken in the next few months by the bank's Board of Governors

Bank employees to go on strike on Sept 2 against proposed amendments to the labour labours

They are also demanding that Kingfisher Airlines' owner Vijay Mallya be declared as a willful defaulter

Doha Bank looking at setting up subsidiary in India

Presently, the bank has three branches in India -- two in Mumbai and one in Kochi

ICICI Bank says getting enquiries for home finance unit stake

But says it is yet to take a call on whether to sell its stake

Stressed assets: RBI mulls stricter norms

Feels banks often opt for refinancing rather than resolving the problem, specially with lack of agreement between lenders

Bandhan appoints former chief economic adviser Ashok Lahiri as chairman

Chandra Shekhar Ghosh, founder of Bandhan, will be managing director and chief operating officer of the bank.

New BRICS bank to look at local, international borrowings: Kamath

The bank, which the BRICS countries see as an alternative to the World Bank, will have its capital expanded to $100 billion within the next couple of years

Transit operators to issue prepaid mobility cards

Maximum amount to be loaded is Rs 2000; minimum validity of six months

RBI's prior nod must for NBFCs for acquisition, shareholding transfer of 26%

Approval would not be required for those directors who get re-elected on retirement by rotation

Cyber frauds on rise with increase in digital banking: Assocham-PwC

Report says financial fraud led to approximately $20 bn Rs 1.26 lakh cr in direct losses annually

RBI may give payment bank licence to post dept by Sept: Prasad

Says this will enable the network of 1,54,000 post offices to offer banking services to the masses in the country

IDFC to apply for final bank licence today

Move comes on back of Madras HC's approval for demerger of IDFC and IDFC Bank on June 29

Micro finance body estimates fund raising worth Rs 25,000 cr in next 12-18 months

These funds will be a combination of equity, non-convertible debentures and term loans from banks, says MFIN

Bank unions target labour reforms, call for strike on Sept 2

Around 5 lakh workers and employees of the banking sector will join the strike

Bank of Baroda cuts lending rate by 0.1%

The bank slashed the base rate by 10 basis points to 9.90% from 10% and BPLR was reduced to 14.15% from 14.25%

State-owned infra financing cos may give Modi's 'Smart Cities' a miss

Say these are welfare projects and unlikely to generate returns on investments, which is inimical to shareholders

Snapshot of PE activity & deals