Page 362 - Finance News
HDFC Bank hikes MCLR by 10 bps across loan tenures, effective Sep 7
Second rate hike in two months by lender after RBI's rate setting committee hiked benchmark repo rate by 50 bps to 5.4%; new MCLR at 7.90-8.40%
 "HDFC Bank hikes MCLR by 10 bps across loan tenures, effective Sep 7")
Axis Bank ties up with PayNearby, aims to boost priority sector lending
Private lender's portfolio of rural loans was at Rs 58,800 cr at the end of the first quarter this financial year
 "Axis Bank ties up with PayNearby, aims to boost priority sector lending")
Bank of Maharashtra raises Rs 710 cr via Basel III Additional Tier 1 bonds
The issue garnered overwhelming response from investors with subscription of 10 times against base issue size of Rs 100 crore
 "Bank of Maharashtra raises Rs 710 cr via Basel III Additional Tier 1 bonds")
Digital currency to be launched as pilot project this year: RBI Deputy Guv
Reserve Bank of India (RBI) Deputy Governor T. Rabi Sankar on Wednesday said that the central bank will launch its digital currency as a pilot project this year.
 "Digital currency to be launched as pilot project this year: RBI Deputy Guv")
Banks in talks with Singapore's DBS to begin real-time remittance system
At least five Indian banks, including the State Bank of India and ICICI Bank, are in discussions with Singapore's DBS Bank to start a real-time remittance system using UPI as the backbone
 "Banks in talks with Singapore's DBS to begin real-time remittance system")
Top public sector banks may soon end wait on trade settlement in rupee
Finance ministry to meet stakeholders on Wednesday
 "Top public sector banks may soon end wait on trade settlement in rupee")
HDFC Bank's Rs 3,000-crore AT1 bonds get FY23's best rate at 7.84%
Canara Bank plans Rs 1,500-2,000 cr AT1 sale; Axis Bank, too, mulls fundraise
 "HDFC Bank's Rs 3,000-crore AT1 bonds get FY23's best rate at 7.84%")
Canara Bank to raise benchmark lending rate by up to 0.15% from Wednesday
Canara Bank said it has hiked the benchmark MCLR by up to 0.15 per cent, a move that will make loans costlier
 "Canara Bank to raise benchmark lending rate by up to 0.15% from Wednesday")
Tamilnad Bank IPO subscribed 1.5x on Day 2, issue closes Wednesday
The priced band for the IPO is Rs 500-525 per share
 "Tamilnad Bank IPO subscribed 1.5x on Day 2, issue closes Wednesday")
Digital lending norms: Fintech firms seek clarity on RBI's FLDG stance
An FLDG is a lending model wherein a third-party guarantees to compensate up to a certain percentage of default in a loan portfolio of the regulated entity
 "Digital lending norms: Fintech firms seek clarity on RBI's FLDG stance")
IDBI Bank re-appoints S Jebaraj as deputy MD for 3 years effective Sept 20
Jebaraj handles verticals for large and mid-sized corporates, trade finance and NPA management and he has been a member of internal committees for more than a decade, said IDBI Bank
 "IDBI Bank re-appoints S Jebaraj as deputy MD for 3 years effective Sept 20")
HSBC Bank Mauritius sells 7% shares of V-Mart Retail for Rs 392 cr
On Monday, shares of V-Mart Retail settled 3.49 per cent lower at Rs 2,892.75 apiece on the BSE
 "HSBC Bank Mauritius sells 7% shares of V-Mart Retail for Rs 392 cr")
HDFC Bank, SBI AT-1 rates set to influence pricing of other issuances
The bonds will have a call option from the fifth year onwards and are rated AA+ by CRISIL, CARE and India Ratings, sources said
 "HDFC Bank, SBI AT-1 rates set to influence pricing of other issuances")
HDFC Bank targets nearly Rs 1-trillion deposit mop-up every quarter
In the recent roadshows, the bank's management sounded confident of its ability to deliver both loan growth as well as deposit growth, a report by Macquarie Research said on Monday
Banks, financial markets strong enough to withstand extreme volatility: Das
Going forward, our monetary policy will be watchful, nimble footed and calibrated, says RBI Governor
 "Banks, financial markets strong enough to withstand extreme volatility: Das")
Maharashtra state bank employees union protests govt loan melas
The federation's secretary, said in a statement the Congress government before "distributed hundreds of crores" by organising loan melas and now the present government is on the same lines
 "Maharashtra state bank employees union protests govt loan melas")
RBI imposes penalties on five co-operative banks for non-compliance
RBI said that the penalties are based on deficiencies in regulatory compliance & is not intended to pronounce upon the validity of any transaction entered into by the banks with their customers
 "RBI imposes penalties on five co-operative banks for non-compliance")
HDFC Bank, Precision Bio to test applications under RBI's sandbox scheme
The regulatory sandbox allows the regulator, innovators, financial service providers and customers to conduct field tests to collect evidence on the benefits and risks of new products and systems
NTT DATA Payment Services gets RBI nod for payment aggregator license
Payment service provider NTT DATA Payment Services India, earlier Atom Technologies, said it has received an in-principle approval from the RBI for the Payment Aggregator license
 "NTT DATA Payment Services gets RBI nod for payment aggregator license")
Bank union opposes public sector banks' 'loan melas' on NPA pile-up fears
Public sector banks are put into crisis through NPAs, and the same is used for pushing privatisation of the lenders, it said
 "Bank union opposes public sector banks' 'loan melas' on NPA pile-up fears")