Page 1268 - Finance News
CARE downgrades Punjab & Sind Bank's tier-II bonds
Asset quality expected to remain vulnerable due to significant exposure to power and infrastructure sector
FIIs seen regaining faith in govt bonds in January
Bank of Baroda first bank to raise dollar debt of $750 million during the month, gets orders worth $4.4 billion from banks and fund managers
 "FIIs seen regaining faith in govt bonds in January")
Axis Bank third quarter net profit up 19%
Credit quality deteriorated a tad with gross non-performing asset ratio rising 6 bps to 1.25%
 "Axis Bank third quarter net profit up 19%")
 "RBI imposes penalty on two co-op banks")
Bank of Baroda raises $ 750 million
Issue was almost 6 times oversubscription with strong participation from investors in Asia, Europe and the US
 "Bank of Baroda raises $ 750 million")
Iran requests India to allow open accounts in multiple banks
At present, only UCO Bank facilitates transactions with Iran and those are oil related
 "Iran requests India to allow open accounts in multiple banks")
'Gross NPAs of banks to touch 5% by March-end'
Sluggish economic growth and high interest rates are being touted as primary drivers for rising bad loans: Assocham
 "'Gross NPAs of banks to touch 5% by March-end'")
Iran requests India to allow open accounts in multiple banks
At present, only UCO Bank facilitates transactions with Iran and those are oil related
South Indian Bank earns 10.18% rise in profit
Operating profit has increased during nine months period (April - Dec) 5.46%, from Rs. 642.50 cr to Rs. 677.59 cr
 "South Indian Bank earns 10.18% rise in profit")
Hellwig prescribes stricter recipe for banks to avoid financial meltdown
He suggests increasing equity requirement for banks to 20%-30% of total assets
 "Hellwig prescribes stricter recipe for banks to avoid financial meltdown")
Allahabad Bank joins race to acquire Rupee Co-op Bank
RBI had clarified that it had not cancellation of banking licence of Rupee
 "Allahabad Bank joins race to acquire Rupee Co-op Bank")
Unhedged forex exposure: RBI prescribes stringent provisioning for banks
Also prescribes way in which loss incurred be unhedged foreign currency exposure should be calculated
 "Unhedged forex exposure: RBI prescribes stringent provisioning for banks")
RBI seen softening stand on policy rate as inflation cools
WPI-based inflation falls to 5-month low of 6.16%
 "RBI seen softening stand on policy rate as inflation cools")
Govt defers Rs 15,000-cr bond issue
On review of the govt's cash position and funding requirement, it has been decided, in consultation with RBI, to defer the auction: Finance Ministry
 "Govt defers Rs 15,000-cr bond issue")
Hiking ATM fees: NPCI forms six-bank panel
A sub-committee of six banks has been constituted which will look into the cost structure of ATM transactions
 "Hiking ATM fees: NPCI forms six-bank panel")
BoB hits overseas debt market; to raise at least $500 mn
Bharti Airtel, this Monday raised 250 million euros at a coupon of 385 bsp above the EUR MS rate
 "BoB hits overseas debt market; to raise at least $500 mn")
Service tax finds several banking services taxable on scrunity
The services include credit on deposit insurance, tax collection and forex commission
 "Service tax finds several banking services taxable on scrunity")
Yes Bank Q3 up 22% at Rs 416 cr
Lower provisions, higher non-interest income drive earnings growth
 "Yes Bank Q3 up 22% at Rs 416 cr")
Pension fund managers devise new strategies to attract youths to NPS
HDFC Pension Fund also been finding it difficult to enrol people in younger age-bracket
 "Pension fund managers devise new strategies to attract youths to NPS")
SKS Microfinance regains investor confidence
The company stock gained about 150% in the last one and a half years
 "SKS Microfinance regains investor confidence")