Page 1183 - Finance News
UCO Bank identifies Kingfisher Airlines as wilful defaulter
The bank has lent over Rs 300 cr to the carrier, is yet to official declare it a wilful defaulter
 "UCO Bank identifies Kingfisher Airlines as wilful defaulter")
Plan to bring down net NPAs to 3% in next three years: IFCI CEO
Net NPAs of IFCI grew from 1.92% in FY' 2012 to 11.39% in FY' 2014
 "Plan to bring down net NPAs to 3% in next three years: IFCI CEO")
Govt scraps selection of CMDs for 6 banks, initiates probe
Now, the selection would be done by a panel necessarily comprising of RBI Governor or his nominee.
 "Govt scraps selection of CMDs for 6 banks, initiates probe")
Exploring all options to recover loans from Kingfisher Airlines: Private Banks
Banks could so far recover around Rs 1,000 cr by selling pledged shares
 "Exploring all options to recover loans from Kingfisher Airlines: Private Banks")
SBI home loans raking in Rs 188 cr a day; targets Rs 250 cr
After it waived off the processing fee late September as part of its festive offering, the bank is disbursing close to Rs 200 cr home loans every day
 "SBI home loans raking in Rs 188 cr a day; targets Rs 250 cr")
 "Unusual praise for Modi")
L&T Infra Debt Fund in talks to refinance Rs 1,000 cr worth of road projects
It has already sanctioned funds for 10 projects
 "L&T Infra Debt Fund in talks to refinance Rs 1,000 cr worth of road projects")
FX reserves up $945.6 mn
For the week under review, the Special Drawing Rights (SDRs) rose $23.1 million to $4.32 billion
CRISIL downgrades J&K Bank's deposits
Stress on asset quality is a key concern, says the ratings agency
 "CRISIL downgrades J&K Bank's deposits")
PSU banks fail to sell MFs
Despite having their own asset management cos PSBs, sans SBI, have earned dismally low brokerage incomes of less than Rs 10 cr
 "PSU banks fail to sell MFs")
Fill up CMD posts at public sector banks, AIBEA writes to PM
Important post of chairman and managing director is vacant at United Bank of India, Canara Bank, Syndicate Bank, Bank of Baroda, Indian Overseas Bank and Oriental Bank of Commerce
 "Fill up CMD posts at public sector banks, AIBEA writes to PM")
Banks need to think out-of-the-box on MSMEs: Expert
Dr P M Mathew says a solution can best come from developing and articulating a business case, by which banks find lending to MSMEs a truly attractive business proposition
 "Banks need to think out-of-the-box on MSMEs: Expert")
 "Bond yields could drop to 8% in 6 months")
 "Banks cut lending rates to corporate sector")
RBI warns firms on lack of FX hedging
If indirect pressure fails, RBI is considering forcing companies to give detailed financial information through their lenders
 "RBI warns firms on lack of FX hedging")
At RBI's Sept 30 review, most external members sought a rate cut
While three members sought a cut of 25 basis points (bps), one argued for a 50-bps cut
 "At RBI's Sept 30 review, most external members sought a rate cut")
Banks seek changes in law for better loan recovery
To improve the loan recovery performance of banks in Odisha, the state level bankers' committee (SLBC) has urged the state finance department to adopt the procedures of other states to bring down the
 "SKS Microfinance completes Rs 316 crore securitisation")