Page 1122 - Finance News
Andhra Bank to raise Rs 3,000 cr through bonds this year
It will be raising tier-1 and tier-2 capital of Rs 1,500 crore each at 9% and 8% interest rate respectively
 "Andhra Bank to raise Rs 3,000 cr through bonds this year")
YES Bank launches representative office in Abu Dhabi
Bank will provide services for unique investment needs of Indian diaspora in the Gulf city
 "YES Bank launches representative office in Abu Dhabi")
Mahindra Finance eyes 50% stake in payments bank
Tech Mahindra, a subsidiary of Mahindra & Mahindra, has applied to RBI for a permit to set up a payments bank
 "Mahindra Finance eyes 50% stake in payments bank")
Perpetual bonds fail to woo investors
Arrangers still stuck with 50% of the issuances
 "Perpetual bonds fail to woo investors")
Govt renews search for five PSU bank chiefs; norms relaxed
Age limit increased to 57 years, from 55, mandatory board-level experience reduced to one year, from three
 "Govt renews search for five PSU bank chiefs; norms relaxed")
Govt may add two new criteria for fresh fund infusion in PSBs
Special consideration for banks with international branches, those with operations in eastern belt
Banks left out as 'Kunal calls Kunal' for e-commerce M&As
The way Snapdeal bypassed investment banks for the Freecharge deal might give the bulge bracket banks sleepless nights
 "Banks left out as 'Kunal calls Kunal' for e-commerce M&As")
Bank of Baroda ties up with UAE Exchange for instant money transfer
Following the agreement, customers can send money to their desired bank accounts in Bank of Baroda in India, within minutes
 "Bank of Baroda ties up with UAE Exchange for instant money transfer")
 "'Farmer suicides complicated issue, formal finance key'")
Unseasonal rains could hit banks' profitability by up to 10%
According to India Ratings, agricultural non-performing loans may double
 "Unseasonal rains could hit banks' profitability by up to 10%")
Banks set for cost increases on new loan provisioning rules
Stricter provisioning norms will also affect recovery chances of troubled borrowers
 "Banks set for cost increases on new loan provisioning rules")
Looking for Chairmen for PSU banks; appointed 5 CEO & MDs: Govt
Jayant Sinha says govt has already okayed move to separate posts of Chairman and MDs in public sector banks
 "Looking for Chairmen for PSU banks; appointed 5 CEO & MDs: Govt")
YES Bank board nod to foreign investment hike
FII/FPI limit to be 74% of share capital; shareholders to benefit once regulations are issued
Survey reveals rise in retail banking fraud
Deloitte reports hike in numbers, improved method; better recovery
 "Survey reveals rise in retail banking fraud")
Foreign investors sell off domestic debt
Profit taking, concern over MAT prompt outflow
 "Foreign investors sell off domestic debt")
RBI revamps priority sector lending norms
Now, loans to sectors such as social infrastructure, renewable energy and medium enterprises will also be treated as PSL
 "RBI revamps priority sector lending norms")
Finance Bill set to limit RBI's role
Central bank can only regulate rates for money, commercial papers and corporate bonds
 "Finance Bill set to limit RBI's role")
Special drive helps Andhra Bank reduce NPAs
The drive sees the total NPA accounts coming down to 244,000 from 354,000
Banking sector fraud has gone up by more than 10%: Deloitte
According to a report by the consultancy firm, the banks also witnessed a rise in the level of sophistication with which the frauds were executed