Page 443 - Finance News
RBI's PCA framework to discipline NBFC sector in long run, say analysts
Three different risk thresholds, three different yardsticks to measure PCA risk thresholds. The curns against the NBFC get progressively tightened as they breach higher threshold levels
 "RBI's PCA framework to discipline NBFC sector in long run, say analysts")
Capital norms for operational risks of banks to be revised: RBI
The revised directions will apply to all commercial banks in India
 "Capital norms for operational risks of banks to be revised: RBI")
Jury still out on giving bank licences to industrial houses: RBI official
Given that banking is a highly leveraged business dealing with public money, it makes sense to keep industry/business and banking separate, says RBI deputy governor M Rajeshwar Rao
 "Jury still out on giving bank licences to industrial houses: RBI official")
Micro-loan disbursement up 154.5% QoQ to to Rs 64,899 cr in Sept: MFIN
The number of loans disbursed also rose sharply to 18.5 million in Q2FY22 from 7.1 million in Q1FY22
 "Micro-loan disbursement up 154.5% QoQ to to Rs 64,899 cr in Sept: MFIN")
PSU bank staff to go on two-day strike from Thursday; services may get hit
Most of the banks, including SBI, have already cautioned their customers about the strike's possible impact on banking operations like cheque clearance and fund transfer
 "PSU bank staff to go on two-day strike from Thursday; services may get hit")
Prompt corrective action: A clear framework to help NBFCs remain in shape
There are about 10,000 NBFCs registered with the RBI, but only a few that can potentially face these PCA restrictions
 "Prompt corrective action: A clear framework to help NBFCs remain in shape")
FSS, CSB Bank to open 1,000 Smart Cash franchisees for financial inclusion
Modelled on a branch-in-a-box service concept, Smart Cash franchisees would offer affordable banking, investment, credit, and insurance products to target segments
 "FSS, CSB Bank to open 1,000 Smart Cash franchisees for financial inclusion")
SBI planning to offload 6% stake in AMC through initial public offer
SBI currently holds 63 per cent stake in the mutual fund company and the remaining 37 per cent stake is held by AMUNDI Asset Management through a wholly owned subsidiary, Amundi India Holding
 "SBI planning to offload 6% stake in AMC through initial public offer")
RBI introduces tough PCA framework for large NBFCs, effective October 2022
An NBFC under the framework, caused by triggering the first threshold, will face restrictions on dividend distribution and promoters will be asked to infuse capital and reduce leverage
No need to extend timelines for recast loans, says Axis Bank top exec
The deadline has already been extended once, and if the borrowers are not able to meet the parameters, banks are required to classify the loans as "non-performing"
 "No need to extend timelines for recast loans, says Axis Bank top exec")
No talks ongoing currently on acquiring Spandana Sphoorty: Axis Bank
Are we exploring other opportunities, there is nothing on the table at the moment, says top bank official
 "No talks ongoing currently on acquiring Spandana Sphoorty: Axis Bank")
Kotak Mahindra Bank partners with IndiGo to offer co-branded credit cards
Essentially, the cards will work on a reward proposition of an airline ticket for free
 "Kotak Mahindra Bank partners with IndiGo to offer co-branded credit cards")
RBI issues prompt corrective action framework for NBFCs
The PCA framework for NBFCs shall come into effect from October 1, 2022, based on the financial position of NBFCs on or after March 31, 2022
Banks lost Rs 2.85 trn due to loan default of 13 firms, alleges UBFU
In press release, UFBU's Convener B Rambabu said the organisation calls for a two-day all India bank strike on December 16 and 17 protesting against Banking Laws (Amendment) Bill 2021
 "Banks lost Rs 2.85 trn due to loan default of 13 firms, alleges UBFU")
Cabinet committee on privatisation yet to take decision on two banks: FM
Finance Minister Nirmala Sitharaman on Monday said the cabinet committee on privatisation is yet to take a decision with regard to divesting two public sector banks.
 "Cabinet committee on privatisation yet to take decision on two banks: FM")
As many as 41,177 posts vacant at public sector banks: Govt
State Bank of India had the maximum number of vacant posts at 8,544, according to official data
 "As many as 41,177 posts vacant at public sector banks: Govt")
Processed 1 bn transactions last month, offline payments up 200%: PhonePe
Digital payments major PhonePe on Monday said offline merchant transactions on its platform have shown 200 per cent growth since last year.
 "Processed 1 bn transactions last month, offline payments up 200%: PhonePe")
Fintech leading India's banking revolution but it's hampered by old rules
The country's licensing policy for financial institutions is past its sell-by date. Innovative solutions are out there but require regulation.
 "Fintech leading India's banking revolution but it's hampered by old rules")
What does a scheduled bank status mean for Paytm Payments Bank?
After a choppy IPO debut, Paytm received the RBI nod to operate as a scheduled payments bank. How does it change things for the company? This report makes sense of Paytm Payments Bank's new status
 "What does a scheduled bank status mean for Paytm Payments Bank?")
Ashu Suyash to join Kotak Mahindra Bank's board as an independent director
Suyash's appointment, for five years, will be effective from Jan 24, 2022
 "Ashu Suyash to join Kotak Mahindra Bank's board as an independent director")