Page 484 - Finance News
RBI allows wallets, white label card networks to access RTGS, NEFT systems
Centralised Payment Systems' access will also help lower cost of payments for non-banks, reduce their dependence on banks, says RBI
 "RBI allows wallets, white label card networks to access RTGS, NEFT systems")
India needs more to convince banks, NBFCs to lend to MSMEs: AIIB economist
The Indian government needs to take more steps to encourage banks and NBFCs to lend more to MSMEs, according to Asian Infrastructure Investment Bank (AIIB) Senior Economist Abhijit Sengupta.
 "India needs more to convince banks, NBFCs to lend to MSMEs: AIIB economist")
DFI alone not panacea for infra finance issues: Sebi member Barua
He also rued that banks are accessing capital markets only for their core or Tier-II capital requirements, and need to access the markets more for raising resources for project finance.
 "DFI alone not panacea for infra finance issues: Sebi member Barua")
IndusInd Bank clocks 99% rise in consolidated net profit at Rs 1,016 crore
Net interest income was up 8 per cent YoY to Rs 3,564 crore, from Rs 3,309 crore in Q1FY21
 "IndusInd Bank clocks 99% rise in consolidated net profit at Rs 1,016 crore")
SBI, Axis Bank, ICICI Bank, others buy stakes in fintech firm IBBIC
Six banks State Bank of India, Axis Bank, Indian Bank, Yes Bank, IDBI Bank, and ICICI Bank on Tuesday said they have bought equity stakes in financial technology platform IBBIC.
 "SBI, Axis Bank, ICICI Bank, others buy stakes in fintech firm IBBIC")
PSBs in talks for creating common digital infrastructure platform
Will set up a corporation to enable enhanced access to customers and businesses for credit offerings. This is in line with govt steps to boost digital banking and promote digital lending
 "PSBs in talks for creating common digital infrastructure platform")
IPOs of India's Paytm, South Korea's Kakao reveal Gen Z's banking vision
Internet-based businesses are raising funds at a record pace, making use of the boost given by the pandemic to all things digital
 "IPOs of India's Paytm, South Korea's Kakao reveal Gen Z's banking vision")
Number of wilful defaulters rises to 2,494: FM informs Parliament
Banks are required to take steps to initiate the legal process, wherever warranted, against the borrowers or guarantors for recovery dues, she said.
 "Number of wilful defaulters rises to 2,494: FM informs Parliament")
Banks' NPAs decline to Rs 8.34 trillion at March-end 2021: Minister
Scheduled commercial banks were carrying NPAs worth Rs 8.96 trn on their balance sheet at the end of March 2020
 "Banks' NPAs decline to Rs 8.34 trillion at March-end 2021: Minister")
SBI top-deck recast: Mishra is new HR head, Rana Singh is strategy chief
Ravindra Pandey, who was serving as DMD (Strategy) & Chief Digital Officer, is now DMD and Chief Information Officer (CIO)
 "SBI top-deck recast: Mishra is new HR head, Rana Singh is strategy chief")
Rupee slips 4 paise to 74.44 against US dollar in early trade
The Indian rupee depreciated 4 paise to 74.44 against the US dollar in opening trade on Monday, as investors are awaiting cues from the US Fed's policy decision, due this week.
 "Rupee slips 4 paise to 74.44 against US dollar in early trade")
Finance Ministry suggests extending terms of CEOs, EDs at state-owned banks
Leaders of Punjab National Bank, UCO Bank and Bank of Maharashtra likely to get more time at their jobs.
 "Finance Ministry suggests extending terms of CEOs, EDs at state-owned banks")
Statsguru: Performance and challenges of co-operative sector in India
Even though a fifth of these cooperatives are in the financial sector, their share has remained low
 "Statsguru: Performance and challenges of co-operative sector in India")
HDFC Bank's Puri highest paid, ICICI Bank Bakshi forgoes salary in Covid yr
HDFC Bank's Aditya Puri emerged as the highest grossing banker among the top three private sector lenders in his retirement year with total emoluments of Rs 13.82 crore.
 "HDFC Bank's Puri highest paid, ICICI Bank Bakshi forgoes salary in Covid yr")
IndusInd Bank to raise up to Rs 30,000 crore through debt and equity
The board gave approval to the plan for raising funds. It will also seek shareholders' nod for it
Unprecedented flow of easy money keeps Indian stocks on bull run
The nation's NSE Nifty 50 Index is among Asia's top gainers this month, beating the regional benchmark by about 4 percentage points
 "Unprecedented flow of easy money keeps Indian stocks on bull run")
Federal Bank's Q1 net profit drops 8.35% due to higher provisions
The lender's net interest income grew by 9.4% YoY to Rs 1,418 cr in Q1FY22 compared to Rs 1,296 cr in the year-ago period
 "Federal Bank's Q1 net profit drops 8.35% due to higher provisions")
YES Bank may have to forgo issuing 100K cards; inks pact with RuPay
The bank has tied up with National Payments Corporation of India for issuing RuPay cards and will ink a similar deal with VISA
 "YES Bank may have to forgo issuing 100K cards; inks pact with RuPay")
Stop penalty on early withdrawal of SCSS in case of death: IBA to banks
Banks asked to capture closure reason in CBS
RBI increases loan limit of bank directors to Rs 5 cr from Rs 25 lakh
Said unless sanctioned by board or management committee, banks should not grant loans of Rs 5 crore or more to relatives other than spouse and dependent children of their top brass
 "RBI increases loan limit of bank directors to Rs 5 cr from Rs 25 lakh")