Page 436 - Finance News

Rising Covid cases may add to asset quality risks of NBFIs: Fitch

Fitch Ratings on Friday said the rising COVID cases may delay recovery in MSME and microfinance lending, and add to asset quality risks of non-banking financial institutions.

What is the FRBM Act, 2003?

To ensure discipline in government finances and keep a check on fiscal profligacy, a legislation was enacted almost two decades ago - the FRBM Act, 2003. This report demystifies it

Pandemic concerns may have prompted RBI to go slow on liquidity operations

It was widely expected RBI would announce a three-day reverse repo auction of Rs 2 trn, rolling over last such auction conducted on Monday; that did not happen during market hours

RBI approves Ittira Davis' appointment as Ujjivan SFB's new MD & CEO

Davis had a stint with Ujjivan SFB as its chief operating officer. He joined Ujjivan in March 2015 and headed the transition of Ujjivan's journey from a micro finance institution (MFI) to SFB

State Bank of India taps Taiwanese market for $300 mn via Formosa bonds

SBI Managing Director Ashwini Kumar Tewari said Formosa issuance demonstrates the strong investor base the bank has created for itself in offshore capital markets

Budget unlikely to allocate any fund for bank recapitalisation: Report

The banks will raise capital through internal accruals and fundraising from the market, Icra said in a note, adding that the lenders have the ability to manage

Cooperative forum set up by RBI board member weighs in for PMC depositors

Sahar Bharati requests finance minister's intervention for a better deal

Customer complaints against banks rise, but so does resolution

All three schemes now have been merged into one integrated ombudsman scheme

Writ petition not maintainable against proceedings by banks: SC

The apex court held this while vacating the order passed by the Karnataka High Court (HC)

Federal Bank gets board approval to raise up to Rs 700 cr through bonds

Federal Bank on Wednesday said it has received approval from its board of directors to raise up to Rs 700 crore by issuing bonds on a private placement basis

1 bn transactions a day on UPI quite possible in 3-5 years' time: NPCI CEO

"If we don't do anything, we will achieve this target in the next ten years. But we should aim to do it in the next 3 - 5 years' time," Asbe said

Axis Bank partners MinkasuPay for seamless net banking experience

Axis Bank announced its partnership with MinkasuPay to offer the smoothest net banking payment experience for its customers through a biometric authentication solution.

Bank stocks broadly positive during Basel norms implementation: RBI paper

Banking stocks have broadly reacted positively to the strict capital norms under the Basel regulations put in place for domestic banks over an 18-year period, starting October 1998, RBI paper showed

Banks likely to post 36.3% rise in Q3 net profit at Rs 38,153 crore

The bad loans saw a dip in Q2, both in absolute and percentage terms. The trend is likely to prevail in Q3

Surge in Covid-19 cases, localised curbs to hit securitisation: ICRA

ICRA said it expects the full year volumes (FY22) to be around Rs 1 - 1.1 trillion, marginally lower than its earlier estimates of about Rs 1.2 trillion.

BS Number Wise: Working in tandem on monetary policy

Central banks of the world are implementing coordinated rate reduction but such convergence is neither new nor permanent

Ex-RBI governor Urjit Patel appointed as vice president of AIIB

Former RBI governor Urjit Patel was on Tuesday appointed as vice president for investment operations in South Asia at the Beijing-based Asian Infrastructure Investment Bank (AIIB)

New Bundesbank president takes charge with warning on inflation risks

While Nagel acknowledged that temporary factors are partly to blame for current pressures, he also called the medium-term outlook 'exceptionally uncertain'

SBI invites applications for head of digital banking till January 28

The country's largest lender SBI is looking forward to appointing the head for its digital banking, and it has invited applications from eligible candidates for the post by January 28.

Covid-19 pandemic: Omicron spread may disrupt growth momentum, says IBA

Impact may not be severe as first, second waves