Page 389 - Finance News
PNB Hsg Fin, 12 individuals settle with Sebi a case related to Carlyle deal
The housing finance player, part of state-owned PNB, and the 12 individuals, who were directors of the company as on May 31, 2021, jointly paid Rs 72.76 lakh towards settlement
 "PNB Hsg Fin, 12 individuals settle with Sebi a case related to Carlyle deal")
RBI imposes restrictions on 2 co-op banks; customers cannot withdraw funds
The restrictions on Sri Mallikarjuna Pattana Sahakari Bank Niyamita, Maski (Karnataka) and Nashik Zilla Girna Sahakari Bank, Nashik (Maharashtra) will remain in force for six months
 "RBI imposes restrictions on 2 co-op banks; customers cannot withdraw funds")
Investment via P-notes drops to Rs 80,092 cr in Jun; volatility to continue
Investment in the Indian capital markets through participatory notes (P-notes) declined to Rs 80,092 crore till June-end, making it the lowest level in 20 months
 "Investment via P-notes drops to Rs 80,092 cr in Jun; volatility to continue")
RBI imposes restrictions on Raigad Sahakari Bank, caps customer withdrawals
The RBI imposed several restrictions on Mumbai-based Raigad Sahakari Bank, including a withdrawal cap of Rs 15,000 per customer, due to deterioration in the financial condition of the lender
 "RBI imposes restrictions on Raigad Sahakari Bank, caps customer withdrawals")
YES Bank plans to invest Rs 350 cr in JC Flowers, raise $1 bn in FY23
JC Flowers has been named as the base bidder for bad loans worth Rs 48,000 crore of YES Bank
 "YES Bank plans to invest Rs 350 cr in JC Flowers, raise $1 bn in FY23")
IndusInd Bank's board approves fundraise of up to Rs 20,000 crore
The bank's board also approved the re-appointment of Akila Krishnakumar as non-executive independent director
 "IndusInd Bank's board approves fundraise of up to Rs 20,000 crore")
FPI legroom not enough for big MSCI boost, says Macquarie Capital
According to the latest June quarter shareholding data, the FII shareholding in HDFC Bank and HDFC Ltd has declined to 65.81 per cent and 67.7 per cent, respectively
 "FPI legroom not enough for big MSCI boost, says Macquarie Capital")
Govt revives IPO plans for RRBs, asks sponsor banks to identify candidates
Sponsor banks - that hold about 35 per cent in RRBs - have been asked to handhold regional lenders at all stages from identification of merchant bankers to the conclusion of IPO
 "Govt revives IPO plans for RRBs, asks sponsor banks to identify candidates")
'Govt, RBI moves help banks recover Rs 8.6-trn bad loans in last 8 fiscals'
Minister of State for Finance Bhagwat Karad in a written reply to the Lok Sabha said the occurrence of non-performing assets (NPAs) is normal, although an undesirable, corollary to business of banking
Global cooperation needed to regulate crypto: Sitharaman tells Parliament
RBI has called cryptocurrencies a 'real danger', listing their risk in its annual report
 "Global cooperation needed to regulate crypto: Sitharaman tells Parliament")
Yes Bank plans to invest Rs 350 cr in JC Flowers; raise $1 bn core capital
The private sector lender is planning to raise up to $1 bn in FY23 to bolster its core capital base once the NPA challenge is over, says its MD & CEO Prashant Kumar
 "Yes Bank plans to invest Rs 350 cr in JC Flowers; raise $1 bn core capital")
HDFC Bank lost Rs 50k-cr corporate loans as competitors offered lower rates
Merger-related dispensations separately handled by RBI, says HDFC Bank CFO Srinivasan Vaidyanathan
 "HDFC Bank lost Rs 50k-cr corporate loans as competitors offered lower rates")
Remittances from West Asia hit in FY21 due to Covid-19 pandemic
According to an RBI survey, Indians in advanced nations, like the US & UK, emerged important sources of money
 "Remittances from West Asia hit in FY21 due to Covid-19 pandemic")
Govt draws up plan to bolster PSU bank boards, hold directors accountable
With amendments to banking Act, it seeks to notify tenure for chairman
 "Govt draws up plan to bolster PSU bank boards, hold directors accountable")
Merger with HDFC to help tap home finance opportunity: HDFC Bank chairman
A more stable balance sheet because of the merger will enable HDFC Bank to step up exposures and facilitate higher credit growth in the economy, said the chairman
 "Merger with HDFC to help tap home finance opportunity: HDFC Bank chairman")
Bank unions to begin Twitter campaign against privatisation on Sunday
A day ahead of the start of the Parliament's Monsoon session, the United Forum of Bank Unions (UFBU) has given a call for a campaign on Twitter against privatisation of government banks
 "Bank unions to begin Twitter campaign against privatisation on Sunday")
RBI, Bank Indonesia agree to expand cooperation in payment systems
The Reserve Bank of India and Bank Indonesia on Saturday entered into an agreement to expand cooperation in payment systems, digital financial innovation
We are looking at being distinctive as a bank: Axis Bank MD & CEO
In a Q&A, Axis Bank MD & CEO Amitabh Chaudhry says bank's core leadership is focused on 19 transformative initiatives, at both business and functional levels in order to become better execution engine
 "We are looking at being distinctive as a bank: Axis Bank MD & CEO")
YES Bank, JC Flowers in pact for ARC in bid to seal largest ever NPA deal
This is being termed the single-largest bad loan deal
No benefits from consolidation of state-owned banks: Bank unions
They say no benefits were seen from previous rounds
 "No benefits from consolidation of state-owned banks: Bank unions")