Page 370 - Finance News
SBI raises Rs 4,000 crore via tier-2 bonds at cutoff rate of 7.57%
Lender claims overwhelming response from investors, with bids of Rs 9,647 crore; issue oversubscribed 5x against base size of Rs 2,000 crore
 "SBI raises Rs 4,000 crore via tier-2 bonds at cutoff rate of 7.57%")
TMB stock ends flat as RBI rejection of proposed chairman has little impact
RBI advised private sector lender to submit a fresh proposal of another Independent Director for the post of Chairman
 "TMB stock ends flat as RBI rejection of proposed chairman has little impact")
25% micro credit customers graduated to SMEs since Covid: Bandhan Bank MD
Ghosh says bank is looking to increase branch count to 8,000 nationally from the current 5,640
 "25% micro credit customers graduated to SMEs since Covid: Bandhan Bank MD")
Govt norms ensure no one makes money in payments space: Axis Bank head
"What the govt is doing is that they're taking out the entire P&L (profit and loss) opportunity for us. So if you look at the payments space, no one can make any money in the country at all", he said
 "Govt norms ensure no one makes money in payments space: Axis Bank head")
Bank NPAs loans may drop to 5% by March 2023 on economic rebound: Crisil
May even touch decadal low of 4% by March 2024; MSMEs remain vulnerable with one-fourth of recast accounts likely to turn NPAs
 "Bank NPAs loans may drop to 5% by March 2023 on economic rebound: Crisil")
Indian banks may see bad loans falling to decade low of 4% by end of FY24
Indian banks are likely to see a 90 basis points fall in gross non-performing assets (NPAs) to 5% in this fiscal year to March and further improve to 4% by end of March 2024, rating agency Crisil said
 "Indian banks may see bad loans falling to decade low of 4% by end of FY24")
India's banking system liquidity slips into deficit after 40 months: RBI
India's banking system liquidity has slipped into deficit for the first time in nearly 40 months, according to the Reserve Bank of India
 "India's banking system liquidity slips into deficit after 40 months: RBI")
RBI removes Central Bank of India from PCA framework after more than 5 yrs
Central Bank of India has provided a written commitment that it would comply with the norms of Minimum Regulatory Capital, Net NPA and Leverage ratio on an ongoing basis, says RBI
 "RBI removes Central Bank of India from PCA framework after more than 5 yrs")
RBI approves appointment of R Gandhi as non-executive chairman of Yes Bank
The Reserve Bank has approved the appointment of its former deputy governor R Gandhi as non-executive part time chairman of Yes Bank for three years, a regulatory filing said.
 "RBI approves appointment of R Gandhi as non-executive chairman of Yes Bank")
The big plastic bonanza: Credit cards business is booming like never before
Defying the after-effects of pandemic-related pay cuts and job losses, the credit cards business is booming like never before
 "The big plastic bonanza: Credit cards business is booming like never before")
Banks alert customers about mobile banking malware targeting over 200 apps
This malware captures the credentials when users log into their net-banking apps and access bank accounts
 "Banks alert customers about mobile banking malware targeting over 200 apps")
Big Tech in financial system poses concentration risk: Shaktikanta Das
'Unbridled mushrooming of digital lending apps is a material concern'
 "Big Tech in financial system poses concentration risk: Shaktikanta Das")
India's fintech market to reach $1 trillion by 2030: Chief Economic Advisor
India's fintech market is expected to reach $1 trillion by 2030, from $31 billion in 2021, Chief Economic Advisor Dr V. Anantha Nageswaran said here on Tuesday.
 "India's fintech market to reach $1 trillion by 2030: Chief Economic Advisor")
Yes Bank approves sale of Rs 48,000 cr stressed loans to JC Flowers ARC
Former RBI Deputy Governor R Gandhi appointed as Yes Bank's non-executive chairman
 "Yes Bank approves sale of Rs 48,000 cr stressed loans to JC Flowers ARC")
Yes Bank to sell stressed assets worth Rs 48k cr to JC Flowers ARC
Yes Bank on Tuesday said its board has approved the sale of stressed assets worth around Rs 48,000 crore to JC Flowers ARC, which has turned out to be the sole bidder for the portfolio
Overall credit market grows 11.1% to Rs 174.3 trn in FY22: Report
Led by a 122 per cent spike in retail loan volume, the overall credit market grew 11.1 per cent in FY22 over the previous year to Rs 174.3 trn, according to a credit bureau report.
 "Overall credit market grows 11.1% to Rs 174.3 trn in FY22: Report")
RBI wants fintech operators to follow rules of game: Shaktikanta Das
Addressing the third edition of the global fintech summit this evening, he said intention of the central bank is not to penalize or stifle anyone but to ensure that everyone follows traffic rules
 "RBI wants fintech operators to follow rules of game: Shaktikanta Das")
Sitharaman nudges fintech players to have more engagement with govt
Sitharaman further said everyone in the government, whether the prime minister, ministers or think-tank Niti Aayog, is constantly available for engagement, discussions, and exchange of ideas.
 "Sitharaman nudges fintech players to have more engagement with govt")
Other nations showing interest in India's payment ecosystem: FM Sitharaman
India leading the way in building an inclusive financial world, she says
 "Other nations showing interest in India's payment ecosystem: FM Sitharaman")
Ahead of IDBI privatisation, Centre working on tightening disclosure rules
Bidders will have to share the details of legal proceedings against them, if any, until the completion of sale transactions
 "Ahead of IDBI privatisation, Centre working on tightening disclosure rules")