Page 328 - Finance News
Banks get time till Dec end to renew safe deposit locker agreements
RBI has asked them to complete work in phases with intermediate milestones of 50% by June 30, 75% by Sept 30
 "Banks get time till Dec end to renew safe deposit locker agreements")
RBI asks SBM Bank to put brakes on remittance transactions immediately
The banking regulator in a statement said the action was based on certain material supervisory concerns observed in the bank. It, however, did not elaborate on the nature of concerns
 "RBI asks SBM Bank to put brakes on remittance transactions immediately")
Foreign portfolio investor legroom gains for Kotak Mahindra Bank
During the quarter ended December 2022, the FPI holding in the private sector lender fell 1 basis points quarter-on-quarter to 39.26 per cent
 "Foreign portfolio investor legroom gains for Kotak Mahindra Bank")
AT1 bond setback: Carlyle, Advent supportive, says YES Bank MD & CEO
The stock tanks 8.33% following Bombay HC order and weak Q3 showing
 "AT1 bond setback: Carlyle, Advent supportive, says YES Bank MD & CEO")
Credit Saison India receives Rs 540-crore capital infusion from parent firm
The Bengaluru-based digital lender said the latest capital infusion came from Saison International, the global business division of the parent, in two tranches
 "Credit Saison India receives Rs 540-crore capital infusion from parent firm")
Karur Vysya Bank Q3 profit surges 56% to Rs 289 cr on decline in bad loans
The capital adequacy ratio too declined to 17.86 per cent in December quarter as against 18.79 per cent in the same period a year ago
 "Karur Vysya Bank Q3 profit surges 56% to Rs 289 cr on decline in bad loans")
Jammu and Kashmir Bank Q3 net profit rises 79% to Rs 311 cr; NII up 27%
The bank was well on its trajectory to meet annual profitability targets, the spokesperson added
 "Jammu and Kashmir Bank Q3 net profit rises 79% to Rs 311 cr; NII up 27%")
RBI orders SBM Bank to stop transactions under remittance scheme
The scheme allowed Indian residents to freely remit funds abroad up to $250,000 per financial year
 "RBI orders SBM Bank to stop transactions under remittance scheme")
Need to create specialised SME digital bank: Co-founder of Biz2Credit
About 6.3 crore MSMEs (Micro, Small and Medium Enterprises) provide more than 11 crore jobs in India
 "Need to create specialised SME digital bank: Co-founder of Biz2Credit")
Banks get time till Dec 31 to execute revised agreement with locker holders
The RBI further said there is a need for revision in the Model Agreement drafted by the Indian Banks' Association (IBA) to fully comply with the revised instructions
Tamilnad Mercantile Bank posts Q3 net of Rs 279 cr; income at Rs 1,172 cr
The total business of the bank at the third quarter ended December 31, 2022 stood at Rs 78,242 crores with a growth rate of 5.69 per cent
 "Tamilnad Mercantile Bank posts Q3 net of Rs 279 cr; income at Rs 1,172 cr")
Axis Bank Q3 results: Net profit rises 61.9% to Rs 5,853 crore
Analysts on average had expected the bank to report a profit of 54.43 billion rupees, according to Refinitiv IBES data
 "Axis Bank Q3 results: Net profit rises 61.9% to Rs 5,853 crore")
IDBI Bank posts record-high Q3 profit of Rs 927 crore on lower provisions
Most Indian banks have managed to improve their asset quality helped by a clean-up of balance sheet, write-offs and recoveries, and by ensuring that new slippages remained in check
 "IDBI Bank posts record-high Q3 profit of Rs 927 crore on lower provisions")
Canara Bank reports 92% rise in net profit in Q3FY23, NPAs fall to 5.89%
Last week, Canara Bank said that is planning to sell its stake in Russian joint venture Commercial Indo Bank LLC (CIBL) to State Bank of India (SBI) for about Rs 114 crore
 "Canara Bank reports 92% rise in net profit in Q3FY23, NPAs fall to 5.89%")
India's central bank likely buying dollar after rupee rose above 81.125/$
India's central bank likely bought dollars via state-run banks to prevent the rupee from appreciating significantly above the 81 psychological level
Punjab & Sind Bank upgrades its FY23 guidance for NIMs, credit costs
S K Saha, managing director and chief executive of the bank, said the lender is trying to create an image of a niche bank
 "Punjab & Sind Bank upgrades its FY23 guidance for NIMs, credit costs")
HDFC to raise at least Rs 30 billion through issue of 10-year bonds
The issue will also have a greenshoe option to retain an additional 20 billion rupees and will close for subscription later this week
 "HDFC to raise at least Rs 30 billion through issue of 10-year bonds")
Realistic approach: Budget 2023 likely to steer clear of populist measures
Top policymakers comfortable with 6-6.5% growth in FY24
 "Realistic approach: Budget 2023 likely to steer clear of populist measures")
Govt may not announce capital infusion for PSU banks in Budget: Sources
In the first half of FY23, the cumulative net profit of all PSBs increased by 32 per cent to Rs 40,991 crore
 "Govt may not announce capital infusion for PSU banks in Budget: Sources")
Statsguru: States' finances are improving, debt likely to shoot up
When the Union government announced Budget for 2022-23, it had projected revenue to be 8.5% of GDP. A Business Standard analysis of latest report on state finances showed that states are catching up
 "Statsguru: States' finances are improving, debt likely to shoot up")