Page 435 - Finance News
Assets under management for ESG funds up 2.5 times in FY21: Nasscom
Assets under management for environmental, social and governance (ESG) funds increased 2.5 times to $650 million in India in financial year 2021, a top official of IT industry body Nasscom said
 "Assets under management for ESG funds up 2.5 times in FY21: Nasscom")
Aiming to recover Rs 5,000 cr, bring net NPAs under 4.5% by March: PNB MD
The lender is also looking to further monetise its 15% stake in UTI AMC as part of its non-core asset sale plan to shore up its capital base.
 "Aiming to recover Rs 5,000 cr, bring net NPAs under 4.5% by March: PNB MD")
Budget 2022-23: Industry seeks tax parity between NBFCs and banks
RBI brought regulatory framework for NBFCs close to what is applicable for banks
 "Budget 2022-23: Industry seeks tax parity between NBFCs and banks")
Kotak Mahindra Bank's consolidated net profit up 31% YoY in Q3
Standalone net profit up 15% YoY aided by higher NII and write back of provisions
 "Kotak Mahindra Bank's consolidated net profit up 31% YoY in Q3")
Bank credit grows 8.01% to Rs 115 trn; deposits 9.28% to Rs 159 trn
Bank credit grew 8.01 per cent to Rs 115 lakh crore and deposits rose 9.28 per cent to Rs 159.83 lakh crore in the fortnight ended January 14, according to RBI data.
 "Bank credit grows 8.01% to Rs 115 trn; deposits 9.28% to Rs 159 trn")
Banks' loans rose 8% YoY in two weeks to January 14: RBI data
Banks' loans rose 8% in the two weeks to Jan. 14 from a year earlier, while deposits rose 9.3%, the Reserve Bank of India's weekly statistical supplement showed on Friday.
 "Banks' loans rose 8% YoY in two weeks to January 14: RBI data")
Punjab National Bank looking to further dilute its stake in UTI Mutual Fund
State-owned Punjab National Bank (PNB) on Friday said it is looking to further monetise its stake in UTI Mutual Fund as part of its non-core asset sale plan to shore up its capital base.
 "Punjab National Bank looking to further dilute its stake in UTI Mutual Fund")
Got all approvals to set up bad bank: SBI chairman
By current assessment, lenders have a total of 38 accounts involving aggregate loans of Rs 83,845 cr, which have been identified for transfer, says Dinesh Kumar Khara
 "Got all approvals to set up bad bank: SBI chairman")
SBI lists maiden issue of $300-mn Formosa bonds on India INX
'First successful issuance of Formosa Bond by any Indian commercial bank, is a testimony of the confidence reposed by the overseas investors into India's growth story and also in SBI,' says chairman
 "SBI lists maiden issue of $300-mn Formosa bonds on India INX")
What is Revenue Budget?
The govt is now giving final touches to the contours of Union Budget 2022. The Budget can be classified into two parts -- the Capital Budget and the Revenue Budget. Find out what is Revenue Budget
 "What is Revenue Budget?")
RBL Bank Q3 net up 6% to Rs 156 cr on lower provisions, robust NII
Profit number beats Bloomberg estimate of Rs 75.7 crore. Sequentially net profit was up 5x
 "RBL Bank Q3 net up 6% to Rs 156 cr on lower provisions, robust NII")
LIC Housing Finance net profit rises 6% to Rs 767 crore in third quarter
LIC Housing Finance's (LIC HFC) net profit rose 6 per cent year-on-year (YoY) to Rs 767.33 crore in the third quarter.
 "LIC Housing Finance net profit rises 6% to Rs 767 crore in third quarter")
Canara Bank Q3 net rises 115.8% on steady growth in NII, dip in provisions
The bank's NII grew by 14.11 per cent to Rs 6,946 crore in Q3FY22 as against Rs 6,087 crore in Q3FY21.
 "Canara Bank Q3 net rises 115.8% on steady growth in NII, dip in provisions")
PNB Q3 net profit more than doubles to Rs 1,127 cr on lower provisions
On the asset quality front, the bank witnessed slight improvement by cutting its gross NPAs as a percentage of gross advances to 12.88% from 12.99% by the same period a year ago
 "PNB Q3 net profit more than doubles to Rs 1,127 cr on lower provisions")
PMC depositors move SC against final merger plan with Unity SFB
Among other haircut terms, depositors have to wait for 10 years to get back their money if the amount is more than Rs 15 lakh
 "PMC depositors move SC against final merger plan with Unity SFB")
96% PMC Bank depositors to be paid upfront: Unity SFB
On January 25, the finance ministry had approved the merger of PMC Bank with Unity SFB, protecting it from liquidation and bringing relief to all stakeholders
 "96% PMC Bank depositors to be paid upfront: Unity SFB")
Deutsche Bank makes biggest annual profit in a decade on strong performance
Thursday's figures are a milestone for Chief Executive Officer Christian Sewing, who was promoted to the top job in 2018 to turn Deutsche around
 "Deutsche Bank makes biggest annual profit in a decade on strong performance")
What are surcharges and cesses, and how do they differ?
Govt takes its cut from the profit you earned in the markets in form of taxes. But did you know that the government also charges tax on tax? They are called cess and surcharge. Find out about them
 "What are surcharges and cesses, and how do they differ?")
India's 'Buy Now, Pay Later' segment poised to reach $56 bn by FY26
The segment provides short-term financing to make immediate purchases and the credit can be paid back at a later date
 "India's 'Buy Now, Pay Later' segment poised to reach $56 bn by FY26")
Fresh setback for NARCL as two power NBFCs PFC and REC back out
Bad bank unlikely to take up any power assets in the first list
 "Fresh setback for NARCL as two power NBFCs PFC and REC back out")