Page 482 - Finance News
IndusInd Bank gets empanelled as Agency Bank to RBI
IndusInd Bank on Tuesday said it has been empanelled by Reserve Bank of India (RBI) to act as an 'Agency Bank' to facilitate transactions related to government businesses.
 "IndusInd Bank gets empanelled as Agency Bank to RBI")
From ICICI to Axis Bank, private banks turn laggards at bourses
The Nifty Private Bank index is up just 6 per cent year-to-date in the calendar year 2021, against nearly 13 per cent rally in the Bank Nifty and a 15 per cent rise in the benchmark Nifty50
 "From ICICI to Axis Bank, private banks turn laggards at bourses")
RBI monetary policy meet: Beyond the growth-inflation trade-off
An accommodative stance on monetary policy (unchanged since June'19), in the face of an unfavourable growth-inflation trade-off is understandable for now
 "RBI monetary policy meet: Beyond the growth-inflation trade-off")
IOB's Q1 net up 170% to Rs 327 cr on better recoveries, lower provisions
Total income during the first quarter of 2021-22 was seen at Rs 5,155 crore, down marginally by 1.5% from Rs 5,234 crore a year ago
 "IOB's Q1 net up 170% to Rs 327 cr on better recoveries, lower provisions")
Bank of India Q1 net down 14.7% to Rs 720 cr on higher bad-loan provisions
Net interest income declines to Rs 3,145 crore from Rs 3,481 crore a year ago; net interest margin fell to 2.16 per cent in Q1FY22 from 2.48 per cent
 "Bank of India Q1 net down 14.7% to Rs 720 cr on higher bad-loan provisions")
NBFCs sector will see 50-100 bps increase in 90+dpd in FY22: Icra
But the stress will subside subsequently as collection efficiencies improve and restructuring picks up, says rating agency
 "NBFCs sector will see 50-100 bps increase in 90+dpd in FY22: Icra")
RBI issues norms for outsourcing payment, settlement activity by PSOs
Bars PSOs from outsourcing core management functions, including risk management and internal audit; compliance and decision-making functions such as determining compliance with KYC norms
 "RBI issues norms for outsourcing payment, settlement activity by PSOs")
Poor asset valuation, economic climate, NCLT delays see IBC losing favour
Less than 200 cases have been admitted to the National Company Law Tribunal till June after the suspension was lifted on March 24, revealed the Insolvency and Bankruptcy Board of India
 "Poor asset valuation, economic climate, NCLT delays see IBC losing favour")
Indian Bank signs MoU with SINE, IIT-Bombay, to fund MSMEs, start-ups
Public sector Indian Bank on Tuesdaysigned an MoU with Society for Innovation and Entrepreneurship (SINE), IIT Bombay for extending exclusive credit facility to start-ups and MSMEs
 "Indian Bank signs MoU with SINE, IIT-Bombay, to fund MSMEs, start-ups")
Rajya Sabha adjourned for day amid protest, passes IBC (Amendment) Bill
Rajya Sabha was adjourned on Tuesday amid continuous protest by opposition parties over their demand for a discussion on the use of Pegasus spyware, farmers' agitation and other issues
 "Rajya Sabha adjourned for day amid protest, passes IBC (Amendment) Bill")
Govt, RBI, Sebi watching markets closely: FM Nirmala Sitharaman
FM said they are taking necessary measures to ensure orderly functioning of the stock markets and maintain macro-financial stability
 "Govt, RBI, Sebi watching markets closely: FM Nirmala Sitharaman")
PNB expects recovery of Rs 14,000 crore from bad loans in three quarters
Currently, the bank has about 10,641 branches across the country
 "PNB expects recovery of Rs 14,000 crore from bad loans in three quarters")
Monetary policy meet: RBI likely to focus on liquidity management
The RBI's 2021-22 growth forecast is likely to remain unchanged at 9.5 per cent year-on-year
 "Monetary policy meet: RBI likely to focus on liquidity management")
RBL Bank posts Rs 459 cr June qtr loss due to one-time provisioning
In the year-ago period, it had reported a net profit of Rs 141 crore
 "RBL Bank posts Rs 459 cr June qtr loss due to one-time provisioning")
PNB's Q1 profit jumps 231% to Rs 1,023 crore as provisions fall
The bank's net interest income (NII) increased 6.5 per cent year-on-year to Rs 7,226 crore during the quarter
 "PNB's Q1 profit jumps 231% to Rs 1,023 crore as provisions fall")
Govt banks continue to have truncated boards, 10 don't even have a chairman
Meeting quorum of board sub-committees becomes difficult sometimes, say bankers
 "Govt banks continue to have truncated boards, 10 don't even have a chairman")
RBI imposes Rs 50.35 lakh penalty on Janalaxmi Co-operative Bank
Reserve Bank of India on Monday said it has imposed a penalty of Rs 50.35 lakh on Janalaxmi Co-operative Bank, Nashik for non-compliance with certain regulatory requirements.
Public float exemption for PSUs to have riders in privatisation push
The move is to ensure fairness and prevent arbitrary use of latest dispensation provided by the government
 "Public float exemption for PSUs to have riders in privatisation push")
Inflation angst spreads to India bonds as Reserve Bank downplays risk
RBI is widely expected to leave its key rates unchanged on Friday and continue with its easy monetary stance
 "Inflation angst spreads to India bonds as Reserve Bank downplays risk")
Experts see status quo, will read between lines: BS monetary policy poll
Retail inflation came at 6.30 per cent in May, and 6.26 per cent in June -- both above the upper limit of the RBI's target
 "Experts see status quo, will read between lines: BS monetary policy poll")