Page 363 - Finance News
CSB Bank to seek shareholders' nod to extend interim MD & CEO Mondal's term
He was appointed as the interim MD & CEO with effect from April 1, 2022 for a period of three months and further got an extension from July 1 till September 30
 "CSB Bank to seek shareholders' nod to extend interim MD & CEO Mondal's term")
Indiabulls Housing Finance to raise Rs 1,000 cr via public issue of bonds
The Issue will open for subscription on Monday, September 5 and closes on September 22
 "Indiabulls Housing Finance to raise Rs 1,000 cr via public issue of bonds")
SBI to raise up to Rs 7,000 cr via Basel-III AT1 bonds on Sept 11
Non convertible Taxable Perpetual Subordinated Unsecured Basel III compliant Additional Tier 1 Bonds in the nature of debentures of face value Rs 1 Crore each
 "SBI to raise up to Rs 7,000 cr via Basel-III AT1 bonds on Sept 11")
ICICI Bank to raise Rs 10,000 cr via infra bonds in one or more tranches
Proceeds to be used for project financing, affordable housing
 "ICICI Bank to raise Rs 10,000 cr via infra bonds in one or more tranches")
Krishnan Sankarasubramaniam takes over as Tamilnad Mercantile Bank MD & CEO
Prior to taking up the new role, Sankarasubramaniam was serving Punjab and Sind Bank as its Managing Director and CEO, a bank statement said here.
 "Krishnan Sankarasubramaniam takes over as Tamilnad Mercantile Bank MD & CEO")
CBDT issues refunds of over Rs 1.14 trillion between April to August
It also said that income tax refunds of Rs 61,252 crore have been issued in 19.6 million cases and corporate tax refunds of Rs 53,158 crore have been issued in 146,871 cases
 "CBDT issues refunds of over Rs 1.14 trillion between April to August")
What is a currency swap?
India has extended the duration of the $400 million currency swap facility extended to Sri Lanka, which is in dire straits. But what exactly is currency swap? This report offers an insight
 "What is a currency swap?")
'Think of the worst': RBI Governor Das nudges banks to raise capital
Referring to the RBI's foreign exchange reserves as the "solid backbone" of the economy, Das said they provided the firepower to maintain stability in the rupee despite global headwinds
 "'Think of the worst': RBI Governor Das nudges banks to raise capital")
YES Bank hikes interest rate on NRE, FCNR fixed deposits as norms are eased
RBI has taken several steps such as exempting banks from maintaining CRR and SLR on incremental NRE and FCNR (B) deposits, in order to attract dollars and protect the rupee
 "YES Bank hikes interest rate on NRE, FCNR fixed deposits as norms are eased")
Comply with digital lending norms for existing loans by Nov 30: RBI
Guidelines applicable to new and existing customers taking fresh loans
 "Comply with digital lending norms for existing loans by Nov 30: RBI")
1-year median MCLR rise moderates in August, up 40 bps since June
Foreign banks have raised it the most, median rate up 90 bps; just 20-bp rise for private banks
 "1-year median MCLR rise moderates in August, up 40 bps since June")
RBI to run pilot for digitising Kisan Credit Card lending in MP, Tamil Nadu
Project aims to prune costs and turn-around time for borrowers, will entail automation of various processes within banks and integration of their systems with those of service providers
 "RBI to run pilot for digitising Kisan Credit Card lending in MP, Tamil Nadu")
Govt starts work to make regional banks viable; DFS to organise workshop
The government is also nudging operationally sound RRBs to explore listing on the stock exchanges, creating additional sources to meet their regulatory capital requirement
 "Govt starts work to make regional banks viable; DFS to organise workshop")
RBI launches project to digitise KCC to transform rural credit delivery
To transform rural credit delivery system, the Reserve Bank has decided to launch pilot projects to digitise Kisan Credit Card (KCC) in Madhya Pradesh and Tamil Nadu
 "RBI launches project to digitise KCC to transform rural credit delivery")
Bank of Baroda raises Rs 2,474 cr by issuing bonds through stock exchanges
Bank of Baroda has raised Rs 2,474 crore by issuing bonds at the rate of 7.88 per cent through stock exchanges
 "Bank of Baroda raises Rs 2,474 cr by issuing bonds through stock exchanges")
PE, Sovereign funds making larger investments in Indian tech firms
PE funds like Advent, TPG, Temasek and GIC have sped up their investments in India with larger cheques of $100 million or more
 "PE, Sovereign funds making larger investments in Indian tech firms")
Dhanvarsha makes unsolicited offer of Rs 300 cr to buy Dhanlaxmi Bank
According to sources familiar with the development, Dhanvarsha has offered Rs 11.85 per share, totalling Rs 300 crore, to acquire the entire equity stake in the bank
 "Dhanvarsha makes unsolicited offer of Rs 300 cr to buy Dhanlaxmi Bank")
HDFC Bank to open 207 branches in Maharashtra, hire more than 3,000
The smart banking lobbies will be set up in 16 districts and will be operational 24 hours and 7 days
 "HDFC Bank to open 207 branches in Maharashtra, hire more than 3,000")
RBI unlikely to accept NBFCs' requests for bad-loan exemptions: Report
Under the new norms, shadow banks will have to recognise bad loans on a daily basis, rather than monthly, as some now do
 "RBI unlikely to accept NBFCs' requests for bad-loan exemptions: Report")
ICICI Bank, Bandhan Bank, Karnataka Bank increase MCLR across tenors
Loan rates going up after central bank's rate-setting committee hiked benchmark policy rate by 50 basis points
 "ICICI Bank, Bandhan Bank, Karnataka Bank increase MCLR across tenors")