Page 340 - Finance News
Banks have written off loans worth Rs 11.17 trillion in last 6 years: Govt
Banks write off NPAs as part of their regular exercise to clean up their balance sheet, avail tax benefit and optimise capital, it added
 "Banks have written off loans worth Rs 11.17 trillion in last 6 years: Govt")
Yes Bank completes transfer of $5.81 bn worth bad loans to JC Flowers
Yes Bank's gross bad loan ratio edged down to 12.89% at the end of the Sept quarter from 13.45% at the end of June
 "Yes Bank completes transfer of $5.81 bn worth bad loans to JC Flowers")
Bad loans worth Rs 10 trillion written off in last 5 years by banks: Govt
These bad loans have been written off by scheduled commercial banks in last five fiscals (2017-22), the govt told parliament
 "Bad loans worth Rs 10 trillion written off in last 5 years by banks: Govt")
UPI ecosystem needs to be sustainable to grow further: Google Pay
Hints at the need to make transactions on the platform chargeable
 "UPI ecosystem needs to be sustainable to grow further: Google Pay")
Liquidity slips into deficit; RBI cash injections at over one-month high
Tax outflows drive tightness; banks face pressure to raise deposit rates
 "Liquidity slips into deficit; RBI cash injections at over one-month high")
HDFC raises home loan rates by 35 bps, effective from December 20
With this rate hike, HDFC has now passed on the entire rate hike done by the six-member monetary policy committee (MPC) of the Reserve Bank of India (RBI) to the borrowers
 "HDFC raises home loan rates by 35 bps, effective from December 20")
RBI slaps Rs 2.66 crore penalty on Bank of Bahrain & Kuwait BSC, India ops
Reserve Bank imposed the penalty on Bank of Bahrain & Kuwait BSC, India operations, for non-compliance with directions on cyber security framework
 "RBI slaps Rs 2.66 crore penalty on Bank of Bahrain & Kuwait BSC, India ops")
Looking back at 2022: RBI's regulatory review 2.0 is a game-changer
It has taken nearly two decades for RRA 2.0 to be set up under Shaktikanta Das in November 2021; and its recommendations in June this year must surely go down as a major reform
Union Bank likely to sell Rs 780 cr of AT-1 bonds as lenders seek capital
Lenders, particularly state-owned, turn to debt capital markets to finance hefty demand for loans
 "Union Bank likely to sell Rs 780 cr of AT-1 bonds as lenders seek capital")
Axis Bank hikes MCLR by 30 bps across the board, effective December 17
This comes after RBI's monetary policy committee raised repo rate by 35 bps earlier this month to take it to 6.25%
 "Axis Bank hikes MCLR by 30 bps across the board, effective December 17")
Loans worth Rs 1,009,511 written off in last 5 financial years: Sitharaman
Scheduled commercial banks have written off loans amounting to Rs 10,09,511 crore in the last five financial years, Union Finance Minister Nirmala Sitharaman informed the Lok Sabha
 "Loans worth Rs 1,009,511 written off in last 5 financial years: Sitharaman")
To woo customers, HDFC Bank aims to issue 1 mn credit cards every month
The bank wants to double the current pace of half a million new credit card issuances every month, according to Parag Rao, country head for payments business
 "To woo customers, HDFC Bank aims to issue 1 mn credit cards every month")
Finance ministry pulls up PSBs over mis-selling of insurance products
Banks have been advised to ensure '100 per cent' compliance of know your customer (KYC) guidelines while sourcing insurance business
 "Finance ministry pulls up PSBs over mis-selling of insurance products")
Federal Bank increases interest rates on fixed deposits, effective Dec 18
Federal Bank says deposits with maturities between 18 months and two years will earn a maximum interest rate of 7.75 per cent from December 18 onwards
 "Federal Bank increases interest rates on fixed deposits, effective Dec 18")
RBI went beyond just housekeeping with some bold moves in 2022
It's a landmark achievement, so far as the functioning of the economy is concerned: RBI Governor on CBDC
 "RBI went beyond just housekeeping with some bold moves in 2022")
Banks look at possibility of rupee trade with Bangladesh, African nations
Banks are looking at the possibility of initiating rupee trade with Bangladesh and African countries like Egypt as part of exercise to make rupee an international currency, sources said
 "Banks look at possibility of rupee trade with Bangladesh, African nations")
IDFC First Bank announces waiver of charges on customer-centric services
Private sector IDFC First Bank has announced waiver of charges on a number of customer-centric services such as cash deposits, withdrawals, demand drafts, IMPS and SMS alerts, among others
 "IDFC First Bank announces waiver of charges on customer-centric services")
Yes Bank assigns Rs 48k cr stressed asset loan portfolio to JC Flowers ARC
The bank had earlier declared JC Flowers Asset Reconstruction Private Limited (JC Flowers ARC) as the winner of the Swiss Challenge process for sale of its identified portfolio of stressed assets
 "Yes Bank assigns Rs 48k cr stressed asset loan portfolio to JC Flowers ARC")
Banks renew AT-1 sales after two-month gap, PSUs lead pack to raise credit
Public sector lenders would end up issuing around Rs 13,500 cr worth of such bonds in coming weeks
 "Banks renew AT-1 sales after two-month gap, PSUs lead pack to raise credit")
Digital lenders seek cap on default loss guarantee models from RBI
They suggested that the central bank could look at a reasonable cap to the FLDG models, given RBI's concerns of around build-up of systemic risk and 100% risk transfer rather than banning it outright
 "Digital lenders seek cap on default loss guarantee models from RBI")