Page 1121 - Finance News
Too early to say deficit monsoon to hit rural lending
A clear picture is likely to emerge only towards the end of June
 "Too early to say deficit monsoon to hit rural lending")
RBI fines three govt-run banks for violating KYC norms
The 3 banks failed to take timely remedial steps and aggravated the seriousness of the contraventions and its impact, RBI said
 "RBI fines three govt-run banks for violating KYC norms")
Doha Bank says keen on wholly owned subsidiary model
The RBI, in November 2013, had released a framework for large foreign banks with over 20 branches to convert into wholly-owned subsidiaries
Federal Bank Q4 net profit growth flat
Bank posted profit of Rs 280 cr compared to Rs 277 cr in same quarter previous fiscal
 "Federal Bank Q4 net profit growth flat")
HDFC Q4 net up 8% at Rs 1,862 cr
The standalone net income rose 12% to Rs 7,456 cr; declares dividend of Rs 13 per share
 "HDFC Q4 net up 8% at Rs 1,862 cr")
Axis Bank net up 18% on healthy loan growth
The bank's net interest income rose 20% y-o-y to Rs 3,799 crore during the reporting period
 "Axis Bank net up 18% on healthy loan growth")
4 of 7 members of technical advisory panel wanted rate cut
TAC typically meets a week before the policy while the minutes of the meeting is released with a 3-4 week lag
 "4 of 7 members of technical advisory panel wanted rate cut")
HDFC Bank sells Rs 550 crore Essar Steel loans at 40% discount
A consortium of 24 banks has exposure to Essar Steel to the tune of Rs 30,000 crore
 "HDFC Bank sells Rs 550 crore Essar Steel loans at 40% discount")
Lakshmi Vilas Bank reports 90.54 % growth in profit in Q4
Bank's advances up by 26.65%
 "Lakshmi Vilas Bank reports 90.54 % growth in profit in Q4")
Reliance Life launches comprehensive health plan
Reliance Health Total is a non-linked, non-participating and non-variable health insurance plan
 "Reliance Life launches comprehensive health plan")
 "Rupee weakens by over 1%")
Bankers worried on rise in farm NPAs on deferment
Apprehend pressure will build to waive off loans later
 "Bankers worried on rise in farm NPAs on deferment")
No rate reduction by 70 banks despite two cuts by RBI
IMF points out that banks in India resist passing on RBI's rate cuts to consumers
 "No rate reduction by 70 banks despite two cuts by RBI")
RBI to retain powers to regulate government bonds: Sinha
Says confident of managing inflation despite prospects of sub-par monsoon
Govt asks banks to take ownership control of stressed projects
Smaller banks asked to fall in line in joint lenders' forum; banks want promoters to bring in equity
 "Govt asks banks to take ownership control of stressed projects")
FinMin discusses 85 large projects, NPAs with RBI, banks
Efforts were made to analyse the various reasons for stress in the infrastructure projects, says Financial Services Secretary
Bank of India to raise $750 mn through bonds
Bank had earlier deferred plans to raise the amount due to adequate liquidity brought on by slow credit growth
 "Bank of India to raise $750 mn through bonds")
ICICI Bank posts lowest profit growth in 21 quarters
Bad loans rise but bank says worst is over; healthy growth in retail loans
 "ICICI Bank posts lowest profit growth in 21 quarters")
Securitisation volumes dip 27.6 % in FY15
Classification of priority sector lending assets and minimum margin fixed for these also reduced assets qualifying for securitisation
 "Securitisation volumes dip 27.6 % in FY15")
 "Reliance Communications raises $300 million")