Page 1231 - Finance News
FM to review banks' working on May 14
Wants to discuss key issues pertaining to banking sector such as asset quality, recovery of loans, credit growth and priority lending
 "FM to review banks' working on May 14")
Bank staff body lists 406 bad loan a/c worth Rs 70k cr
AIBEA also demanded the government release the list of major loan defaulters and make recovery norms stringent
 "Bank staff body lists 406 bad loan a/c worth Rs 70k cr")
ICICI Bank cuts its equity in UK, Canada arms
Equity investment in these arms falls to 7% of its net worth from 11% in four years
 "ICICI Bank cuts its equity in UK, Canada arms")
Carrot & stick approach behind UBI's strong NPA recovery
Top management got involved in this as sole priority, used all measures available under the rules
 "Carrot & stick approach behind UBI's strong NPA recovery")
Now, independent bank a/c for minors
NO parental guidance required for above 10-year-olds
 "Now, independent bank a/c for minors")
Minors over 10 years can operate bank accounts: RBI
In the guidelines issued by Reserve Bank, minors can operate bank accounts independently with a view to promote financial inclusion
 "Minors over 10 years can operate bank accounts: RBI")
No penalty if minimum balance not kept in dormant bank account
For operative accounts, customers of ICICI Bank and HDFC Bank are charged Rs 750 per quarter if they don't maintain a minimum average quarterly balance of Rs 10,000
 "No penalty if minimum balance not kept in dormant bank account")
Raghuram Rajan signed Rs 1000 banknotes to come up shortly
RBI will shortly issue Rs 1000 denomination Banknotes incorporating rupee symbol on the obverse and reverse in the Mahatma Gandhi Series-2005
 "Raghuram Rajan signed Rs 1000 banknotes to come up shortly")
ICICI Bank introduces new savings accounts for NRIs
With these launches, ICICI Bank now offers three-tiered savings accounts for NRIs
Fourfold jump in badloans in public sector banks in 5 years
Bad loans worth Rs 204,000 crore were written off during last 13 year period
 "Fourfold jump in badloans in public sector banks in 5 years")
 "Muthoot Fin pins hopes on FY15")
 "Rajan must be respected by incoming govt: FM")
Canara Bank aims at 18-20% business growth in FY15
Plans to open 1,245 new branches to achieve 6,000 mark
 "Canara Bank aims at 18-20% business growth in FY15")
 "Rupee might weaken at start of the week")
Karnataka Bank targets 20% growth in FY15
Bank to augment non-interest and fee-based income, increase share of CASA deposits, improve interest spread and monitor effectively
 "Karnataka Bank targets 20% growth in FY15")
FIPB to take up HDFC Bk's foreign investment proposal on May 13
Late last year HDFC Bank had approached the FIPB for increasing the foreign holding in the bank to 67.55% from 49%.
 "FIPB to take up HDFC Bk's foreign investment proposal on May 13")
CII suggests measures to improve asset quality of banks
Economic downturn, GDP growth declining from close to 9% to below 5%, high interest rates have led to sharp deterioration in asset quality for banking sector
 "CII suggests measures to improve asset quality of banks")
Fin Min asks PSU banks to improve CASA level, focus on recovery
Says should be aiming at 40% CASA for improving profitability
 "Fin Min asks PSU banks to improve CASA level, focus on recovery")
State-run banks defer fund-raising via QIP in uncertain market
Banks say they want to gauge market conditions as well as investor appetite post-elections before raising funds through the QIP route
IFCI may rope in strategic investor for factoring arm
To integrate operations of capital market subsidiaries