Page 1176 - Finance News
Kotak buys ING Vysya in all-share deal
Swap ratio fixed at 725:1,000; promoter stake in Kotak Bank to come down to 34%
 "Kotak buys ING Vysya in all-share deal")
SBI defends loan to Adani, says money disbursal after scrutiny
The loan will go through proper due diligence both on credit side as well as on viability side, said the SBI chairperson
 "SBI defends loan to Adani, says money disbursal after scrutiny")
FM discusses steps to control NPAs with PSU bank chiefs
Asks them to ensure smooth credit flow to projects
 "FM discusses steps to control NPAs with PSU bank chiefs")
Reality Check: Jan Dhan scheme raises concerns over money-laundering
Relaxation in KYC guidelines has helped meet the target but this could lead to money laundering and financial malfeasance, it is feared
 "Reality Check: Jan Dhan scheme raises concerns over money-laundering")
CCI probing state-run banks' savings account interest rate
The competition watchdog is looking at the 4% interest PSBs offered on savings accounts
 "CCI probing state-run banks' savings account interest rate")
Black money concerns over relaunched Kisan Vikas Patra
But finance ministry maintains all KYC requirements will be followed
 "Black money concerns over relaunched Kisan Vikas Patra")
 "FM to meet PSU bank chiefs today")
Former IMF economist Prachi Mishra joins RBI
Michael D Patra is the executive director of the department, which is headed by Deputy Governor Urjit Patel
 "Former IMF economist Prachi Mishra joins RBI")
Guard against retail asset bubble: RBI to banks
Says govt banks need to generate more internal capital; govt should cut stake
 "Guard against retail asset bubble: RBI to banks")
Axis Bank launches self-service terminal for cash deposit & withdrawal
Customers can transact even without debit card; If the bank has their PAN details, then there is no ceiling on amount of cash deposited
 "Axis Bank launches self-service terminal for cash deposit & withdrawal")
Moody's revises outlook on Indian corporates from negative to stable
Says better credit conditions await India Inc., lowered external vulnerability to reduce forex risk
 "Moody's revises outlook on Indian corporates from negative to stable")
'Ease norms to bring in more domestic capital into VC and PE'
Being long-term sources of funding with defined cash inflows and outflows, pension funds can be ideal sources for VC/PE funds
FM to review bank chiefs' performance tomorrow
Other major issues on the agenda include overall credit growth with particular reference to agriculture credit, credit to SMEs
HC bars co-operative societies from banking business without RBI nod
The court has also prohibited these societies from carrying out banking activities like ATM and loaning
 "HC bars co-operative societies from banking business without RBI nod")
Govt needs to infuse Rs 2.4 lakh cr in PSU banks by 2019, says RBI's Mundra
He urged the banks to start looking for ways to generate more internal capital as govt help would be limited due to ongoing fiscal consolidation process
 "Govt needs to infuse Rs 2.4 lakh cr in PSU banks by 2019, says RBI's Mundra")
Is Jan Dhan really a success?
Government's financial inclusion mission is well intentioned, but it may be putting a severe strain on the banking sector
 "Is Jan Dhan really a success?")
Jan Dhan Yojana crosses 75 mn accounts, completes target
Officials say debit cards, accident insurance cover will be rolled out to all account holders in a few weeks
 "Jan Dhan Yojana crosses 75 mn accounts, completes target")
 "Banks likely to revise pricing for savings deposit above Rs 1 lakh")
 "'NPA sale to remain slow for two qtrs'")
 "Muted corporate loan demand impacts banks")