Page 347 - Finance News
Demonetisation behind the buoyancy in tax collections, says RBI MPC member
Noting that demonetisation had short-term costs but some long-term benefits, Goyal said it enhanced digitisation and formalization in the economy and reduced tax evasion
 "Demonetisation behind the buoyancy in tax collections, says RBI MPC member")
Scale with proper capital allocation is critical: APAC Financial founder
We have built significant digital and physical infrastructure to cater to the credit needs of MSMEs (micro, small and medium enterprises) in the semi-urban and rural areas
 "Scale with proper capital allocation is critical: APAC Financial founder")
Bond market sees no end to worst turbulence since credit crash of 2007
The world's largest bond market is being whipsawed by its longest stretch of sustained volatility since the onset of the financial crisis in 2007
 "Bond market sees no end to worst turbulence since credit crash of 2007")
Merger of PSBs haven't impacted financial inclusion adversely: RBI
Preserving financial system stability an overriding objective for regulators says deputy governor Rajeshwar Rao
 "Merger of PSBs haven't impacted financial inclusion adversely: RBI")
Credit card spends touch record high of Rs 1.22 trillion in September
Banking system saw a net reduction of close to 290,000 cards during this period, impacted by RBI norms warranting deactivation of cards that are inactive for a year
 "Credit card spends touch record high of Rs 1.22 trillion in September")
State Bank of India, IDBI Bank hike retail fixed deposit rates
For 1 year to less than 2 years, SBI is offering 6.10% as compared to 5.60% earlier
 "State Bank of India, IDBI Bank hike retail fixed deposit rates")
Karur Vysya Bank net profit up 52% at Rs 250 cr in Q2, deposits grow
NPA declines to Rs 2,457 crore, compared to Rs 3,972 crore a year ago
 "Karur Vysya Bank net profit up 52% at Rs 250 cr in Q2, deposits grow")
RBI lifts ban on new branches by Tamilnad Mercantile Bank
At present, the bank has 509 branches -- 106 rural, 247 semi-urban, 80 urban and 76 in metropolitan
 "RBI lifts ban on new branches by Tamilnad Mercantile Bank")
IndusInd Bank secures Rs 1,243 cr from DFC for giving micro loans to women
IndusInd Bank said it has secured a loan of over Rs 1,243 crore from the US International Development Finance Corporation for expanding the bank's microfinance lending to women in select states
 "IndusInd Bank secures Rs 1,243 cr from DFC for giving micro loans to women")
Banks' loans rose 17.9% in two weeks to Oct 7, deposit up 9.6%: RBI data
Indian banks' loans rose 17.9% in the two weeks to Oct. 7 from a year earlier, while deposits rose 9.6%, the Reserve Bank of India's weekly statistical supplement showed on Friday
 "Banks' loans rose 17.9% in two weeks to Oct 7, deposit up 9.6%: RBI data")
Axis Bank shares jump over 9% post earnings announcement; mcap climbs
Shares of Axis Bank rallied over 9 per cent on Friday after the firm reported a 66.29 per cent jump in consolidated net profit for the September quarter.
 "Axis Bank shares jump over 9% post earnings announcement; mcap climbs")
RBI should focus on softening core inflation: MPC's Shashanka Bhide
"As far as monetary policy is concerned, moderation in the core inflation should be the priority," Shashanka Bhide, an external member of the Reserve Bank of India's monetary policy committee, said
 "RBI should focus on softening core inflation: MPC's Shashanka Bhide")
PSBs to soon have a helpline for customer grievance redressal: Report
This comes against the backdrop of a large number of complaints by customers over non-operating helpline numbers of several branches of PSBs in India
 "PSBs to soon have a helpline for customer grievance redressal: Report")
South Indian Bank posts net profit of Rs 223 crore in second quarter
Murali Ramakrishnan, MD and CEO of the Bank, while announcing the results, stated that the strategy of realigning the business by the bank had contributed to the above improved performance
 "South Indian Bank posts net profit of Rs 223 crore in second quarter")
Canara, UBI, Central Bank see 2-digit rise in net due to higher NII growth
NII of the lender grew 18.5 per cent year-on-year (YoY) to Rs 7,434 crore
 "Canara, UBI, Central Bank see 2-digit rise in net due to higher NII growth")
Bank credit growth rises to 17.94% YoY in early Oct, shows RBI data
Deposit growth not that impressive, increases by 9.62% to Rs 172.72 trn
 "Bank credit growth rises to 17.94% YoY in early Oct, shows RBI data")
Axis Bank Q2 net profit rises 70% to Rs 5,329 crore; NII jumps 31%
Not looking to raise capital immediately for Citi deal: MD-CEO
 "Axis Bank Q2 net profit rises 70% to Rs 5,329 crore; NII jumps 31%")
Indian Banks' Association meeting on Friday to elect its new chairman
As per convention, sources said, the senior most managing director of a public sector bank is elected as chairman for a period of one year.
Dhanlaxmi Bank shareholders seek to curb CEO spending powers; EGM on Nov 12
Through another resolution, the shareholders are also seeking a settlement on the issue of a legal battle with some shareholders regarding board positions.
 "Dhanlaxmi Bank shareholders seek to curb CEO spending powers; EGM on Nov 12")
IT governance rules: RBI releases draft guidelines for regulated entities
The framework will specify the role and responsibilities of the board of directors and the senior management of the entity.