Page 1104 - Finance News
World economy may slip to 1930s-like depression: Rajan
Problem a 'broader' one and for all, not just industrial, emerging markets: Rajan
 "World economy may slip to 1930s-like depression: Rajan")
Frauds can't be wished away; banks among easy prey: RBI
RBI Deputy Governor said the endeavour has to be to prevent fraud and detect it at the earliest
 "Frauds can't be wished away; banks among easy prey: RBI")
Union Bank looks to raise Rs 2,500 cr via QIP next month
Currently, the government holds 60.13% in the Mumbai-based bank
 "Union Bank looks to raise Rs 2,500 cr via QIP next month")
Yes Bank plans $1-billion ADR issue next fiscal
The bank has its shareholders' nod to raise up to $1 billion either through an ADR or a QIP issue
 "Yes Bank plans $1-billion ADR issue next fiscal")
United Bank tops list with highest bad loans among PSU lenders
The top-30 defaulters are sitting on bad loans of Rs 93,769 cr, which is more than one-third of the gross non-performing assets of PSU banks
 "United Bank tops list with highest bad loans among PSU lenders")
IMF paper counters Rajan on easy policy being crisis-recipe
The IMF Working Paper says absence of an effective regulatory framework aimed at preserving financial stability was the reason for crisis of 2007
 "IMF paper counters Rajan on easy policy being crisis-recipe")
PSBs settle loans Rs12, 700 cr in FY15 under OTS
OTS scheme is mainly addressed towards retail, agriculture and micro and small enterprises
 "PSBs settle loans Rs12, 700 cr in FY15 under OTS")
RBI may give payment bank licence to Post Dept in Aug
They will be allowed to issue ATM or debit cards as also other prepaid payment instruments, but not credit cards
Axis Bank cuts base rate to by 10 bps to 9.85%
In April, the bank had cut base rate by 20 basis points from 10.15% to 9.95%
 "Axis Bank cuts base rate to by 10 bps to 9.85%")
 "HDFC Bank for step-up in public investment")
Need to keep monitoring monsoon impact on prices: Mundra
RBI said at its June policy review that it would monitor the rains' impact on inflation to determine whether it cuts interest rates again
 "Need to keep monitoring monsoon impact on prices: Mundra")
RBI cancelled most of Friday's G-sec auction
The papers cancelled were the 7.35% 2024, the 7.95% 2032 and the 8.17% 2044
 "RBI cancelled most of Friday's G-sec auction")
Foreign exchange reserves rise to $355.46 bn
Foreign currency assets rose by $1.14 bn to $330.72 bn
 "Foreign exchange reserves rise to $355.46 bn")
'Govt to infuse additional Rs 11,500 cr in PSU banks in FY16'
The government has earmarked Rs 7,940 crore in the Budget for recapitalisation of PSU banks this year
 "'Govt to infuse additional Rs 11,500 cr in PSU banks in FY16'")
PFRDA scanner on unregulated funds
According to B.S. Bhandari, Member, PFRDA, beside NPS and EPFO, there are gratuity funds, super annuity funds and provident funds which seek tax exemptions from CBDT
PSBs will need additional capital to meet adequacy norms: RBI
Finance Minister Arun Jaitley had earmarked Rs 7,940-cr in Budget for recapitalisation of PSBs current fiscal
 "PSBs will need additional capital to meet adequacy norms: RBI")
Banks sufficiently capitalised now but will need more funds later: RBI
Fitch estimates lenders need more than $200 billion to meet Basel III norms
Not banks, now insurers are biggest source of funds for NBFCs
There has been an almost 126% jump in investments by insurance companies in NBFCs as of March 2015
 "Not banks, now insurers are biggest source of funds for NBFCs")
Rising corporate leverage alarms RBI: FSR report
RBI has been laying emphasis on full monetary transmission after it reduced repo rate by 75 bps till now this year
 "Rising corporate leverage alarms RBI: FSR report")
ICICI Bank cuts base rate by 5 bps; matches SBI, HDFC Bank
HDFC Bank's rate action was similar to SBI, which reduced its base rate by 15 bps in April and another 15 bps in June
 "ICICI Bank cuts base rate by 5 bps; matches SBI, HDFC Bank")