Page 483 - Finance News
Q1 results: Private banks' net profit up 33.6%, provisions fall 11.5%
Out of the 14 private lenders that have declared results, only one bank booked a net loss in Q1 of FY22 on account of provisions for Covid
 "Q1 results: Private banks' net profit up 33.6%, provisions fall 11.5%")
No agenda listed for FSDC's next meet, FinMin expresses surprise
Regulators fail to come up with issues to discuss at FSDC sub-committee meeting this month
 "No agenda listed for FSDC's next meet, FinMin expresses surprise")
SEIS allocation will help tourism-related services
Giving a substantial part of the meagre allocation under SEIS to hotels, restaurants and other tourism-related service providers against their NFE earnings in 2019-20 will help them cope with distress
In FY22, our loan book should grow by 20%: IDFC First Bank MD & CEO
V Vaidyanathan talks about the bank's growth plans, its retail-focused approach when it comes to growing its loan book, and its corporate strategy
 "In FY22, our loan book should grow by 20%: IDFC First Bank MD & CEO")
PSU banks mobilise record fund of Rs 58,700 crore from markets in FY'21
Notwithstanding economic disruptions caused by the pandemic, PSBs have managed to raise a record Rs 58,700 crore from markets in FY2020-21 through a mix of debt and equity to enhance capital base.
 "PSU banks mobilise record fund of Rs 58,700 crore from markets in FY'21")
IDFC First Bank sees net loss of Rs 630 cr in Q1 due to higher provisions
Net interest income of the lender grew by 25% YoY to Rs 2,185 cr and sequentially it increased by 11%
 "IDFC First Bank sees net loss of Rs 630 cr in Q1 due to higher provisions")
SBI announces 100% waiver on home loan processing fee till Aug 31
SBI said it is the bank's limited period 'Monsoon Dhamaka Offer', through which a home loan customer can gain substantially
 "SBI announces 100% waiver on home loan processing fee till Aug 31")
RBI lets 10-year bond yield rise ahead of monetary policy next week
This is a different strategy than what played out until last month, where the central bank seemed more focused on keeping the 10-year bond yields at 6%
 "RBI lets 10-year bond yield rise ahead of monetary policy next week")
Personal loans register accelerated growth of 11.9% in June 2021: RBI
Non-food bank credit growth stood at 5.9 per cent in June compared to 6 per cent in the year-ago period, according to RBI data released on Friday.
 "Personal loans register accelerated growth of 11.9% in June 2021: RBI")
DBS, Temasek set up $500 mn financing platform for growth stage firms
DBS said in a statement that EvolutionX will invest in opportunities arising from an increasingly digital economy - across sectors like financial services, consumer, healthcare, etc
 "DBS, Temasek set up $500 mn financing platform for growth stage firms")
Deposit insurance: Urban cooperative banks major beneficiaries, shows data
By March 2020, 357 urban cooperative banks (UCBs) had failed in the country, leading to payment of Rs 4,903 crore in claims
 "Deposit insurance: Urban cooperative banks major beneficiaries, shows data")
Union Bank of India net profit up 255% to Rs 1,181 crore in June quarter
Net interest income rose by 9.53 per cent year-on-year in Q1FY22 to Rs 7,013 crore
 "Union Bank of India net profit up 255% to Rs 1,181 crore in June quarter")
Explained: How push for factoring could benefit the MSME sector
In simple terms, factoring is acquiring bills receivables from MSMEs and releasing money, or giving short-term loans, against these bills to the MSMEs
 "Explained: How push for factoring could benefit the MSME sector")
Retail loans, long a safe bet for many banks, show uptick in defaults
HDFC Bank, ICICI Bank and Axis say bulk of the loans marked substandard in April-June was in retail category, but expect turnaround as lockdowns end.
 "Retail loans, long a safe bet for many banks, show uptick in defaults")
India's inflation could go past RBI target rest of 2021, say report
Forecasts for gross domestic product were raised to a 9.2% expansion in the fiscal year ending March 2022, from the previous 9%, while the gross value added outlook edged down slightly to 9%.
 "India's inflation could go past RBI target rest of 2021, say report")
MSME credit demand in June back to level before pandemic, says CIBIL
High credit growth was helped by government's lending scheme and it masks asset quality pain: Agency
 "MSME credit demand in June back to level before pandemic, says CIBIL")
RBI fines Axis Bank Rs 5 crore for non-compliance with certain rules
The action, RBI clarified, was based on the deficiencies in regulatory compliance
 "RBI fines Axis Bank Rs 5 crore for non-compliance with certain rules")
Syndicate Bank fraud case: Enforcement Directorate attaches Rs 5-cr assets
The central probe agency said its investigation in the case was initiated on the basis of an FIR filed by the Bengaluru Police
 "Syndicate Bank fraud case: Enforcement Directorate attaches Rs 5-cr assets")
HDFC enhances existing limit to borrow via medium-term bonds up to $2.8 bn
The country's largest mortgage lender HDFC Ltd on Wednesday said it has enhanced its existing limit to raise capital through medium-term notes to up to USD 2.8 billion (about Rs 20,875.65 crore).
 "HDFC enhances existing limit to borrow via medium-term bonds up to $2.8 bn")
IDBI Bank expects its gross NPAs to come down to 15% by FY22-end
Growth in loan book and transfer of some bad assets to NARC will fuel the reduction in gross NPAs
 "IDBI Bank expects its gross NPAs to come down to 15% by FY22-end")