Page 351 - Finance News

Govt raises PSB CEO term to 10 years, seeks younger talent at the top

A candidate can be appointed for 5 years initially, extendable for another five years; this is also applicable for executive directors who are also wholetime directors

Axis Bank launches 7th edition of knowledge summit 'Evolve' for MSMEs

The current edition is focused on the broader theme of 'Indian SMEs: Shifting Gears for Next Level Growth'

Bank strike deferred by AIBEA after meeting with labour commissioner

The IBA and the bank managements have agreed to resolve the issues that resulted in the calling for a strike bilaterally with AIBEA

Not buying stake in Equitas SFB, says DSP AMC in response to media reports

Clarifies that approval received by RBI allows its MF schemes to hold more than 5% in Equitas SFB, which will soon merge with Equitas Holdings

Banks' loans rose 17% Y-o-Y in two weeks to Nov 4, deposits up 8.2%: RBI

Bank deposits rose Rs 1.69 trillion to Rs 173.70 trillion in the two weeks to Nov 4

Axis Bank bets on MSMEs, working capital loans to boost credit growth

The lender is seeing demand for capex growth, apart from working capital, an indicator that investments are picking up

Federal Bank ties up with JCB India to finance heavy equipment buyers

This arrangement will boost the financing options for JCB's customers in India, Federal Bank said in a release

Has India's insolvency process attained adulthood?

Till Sept this year, financial creditors have recovered about 33% of their claims in 553 corporate insolvency processes that ended up getting resolved. Has India's insolvency process turned a corner?

Govt raises maximum tenure of PSU banks' CEOs to 10 years to retain talent

As per a government notification dated November 17, 2022, the term for the appointment has been extended to 10 years, from the earlier 5 years, subject to superannuation age of 60 years

Kotak Mahindra increases 1-year MCLR rate by 10 bps, hikes for other tenors

For other tenor loans ranging from overnight to three year, the revised rates are in the range of 7.80-9.05%, according to Kotak

RBI-ESMA logjam: Banks turn to EU, UK regulators over trade impact concerns

Banks expressed concerns about trade impact, disruptions seen in OIS, bond markets

Bank credit increases 17% YoY to Rs 129 trillion in early November 17

Deposit growth moderates to 8.25%

Microfinance sector grows over 16-fold to Rs 2.85 trn in last decade: Study

As per the report, there are close to 6 crore unique microfinance clients. As of March 2022, about 202 entities were catering to them

Financial sector reliance on big tech cos poses major risks: Axis Bank CEO

Chaudhry said such concentration is leading to pressure on the banking system to invest in technology in order to take care of the macro requirements

Polarisation in performance of Indian banks to persist: S&P Global Ratings

It said real GDP growth is likely to moderate as monetary conditions tighten and consumers grapple with higher inflation

PSBs' asset quality challenges to pull down FY23 banking outlook

State Bank of India and leading private-sector banks have largely addressed their asset quality challenges, and their profitability is improving more sharply than the system's, S&P added

Creditors recovered a third of claims in 553 resolved CIRP cases: IBBI data

IBBI says while this reflects extent of value erosion by the time a corporate debtor enters CIRP, it remains the highest among all options available to creditors for recovery

Spandana Sphoorty Financial to raise up to Rs 300 cr by issuing bonds

Shares of Spandana Sphoorty closed 1.81 per cent down at Rs 560.65 apiece on BSE

SBI signs Rs 1,240-cr loan agreement with Germany's KfW for solar projects

The long-term loan, under the Indo-German solar partnership, will facilitate new and upcoming capacities in the solar sector and further contribute to the country's goals announced during the COP26

Indian banking sector resilient despite challenges: RBI Governor Das

Das made these remarks during a review meeting with Chairpersons of public sector banks and some private sector banks, which was also attended by other senior officials of the RBI