Page 488 - Finance News

Only nine large firms' debt of Rs 59,000 crore recast by banks so far

Kamath panel approved all the nine proposals of banks

Banks explore the option of invoking personal guarantee of promotion

Armed with Supreme Court order, banks may invoke personal guarantees of tycoons ranging from Venugopal Dhoot to Kapil Wadhawan to recover unpaid loans from their delinquent firms, sources said Monday.

Given nod to set up small finance bank to take over PMC Bank: RBI to HC

A senior advocate representing the RBI said this will ease the trouble faced by the bank's customers who are unable to withdraw their money

Non-bank financial entities' restructured loans to rise 3.3% by March: ICRA

Covid-19 and lockdowns to slow down its spread have affected the cash flow of borrowers, says agency

Exim Bank lends $35.26 mn for Senegal power project executed by Kalpataru

Exim Bank of India said it has extended a $35.26 million loan for a power transmission project being executed by Kalpataru Power Transmission in Senegal

Restructured loans of non-bank financials to double by March: ICRA

The pandemic and the curbs imposed to contain its spread have affected the cash flow of borrowers and prolonged the recovery process, according rating agency ICRA

Status check: Banks are yet to build up a robust 'Covid loan book'

The RBI came up with the scheme on May 7, mainly for the health sector. It subsequently increased the amount to include contact intensive sectors to ease the hardship

Govt moves deadline for legal advisors to bid for managing IDBI Bank sale

The government has extended the deadline for transaction and legal advisors to bid for managing the IDBI Bank strategic sale by 9 days till July 22.

Equitas SFB gets RBI nod to apply for amalgamation of promoter into itself

As per the SFB licensing guidelines of RBI, a promoter of SFB can exit or to cease to be a promoter after the mandatory initial lock-in period of five years

Federal Bank gets RBI nod to re-appoint Shyam Srinivasan as MD for 3 yrs

Private sector Federal Bank on Friday said it has received approval from the RBI to re-appoint Shyam Srinivasan as its MD and CEO for three years.

Send bank staff in sensitive operations on leave without intimation: RBI

As a prudent risk management measure, banks should have a 'mandatory leave' policy with an element of surprise, apex bank says. The revised norms repeal the circular of April 23, 2015

Gold loans likely to recover in the second quarter, says CSB Bank

The gold loan portfolios of banks widened last year after the RBI allowed banks to offer 90% of the value of gold loans from 75%

Securitisation volumes more than double Q1 despite pandemic: Icra

This happened despite the second Covid-19 wave; ratings agency estimates securitisation volumes for FY2022 at more than Rs 1.2 trillion

RBI to banks: Phase out Libor soon, move to alternative reference rates

However, lenders say they're not sure which alternative will be more reliable

Non-life insurers' premium income up 7% YoY to Rs 14,809 cr in June

Sequentially, the premium income of non-life insurers was up 20 per cent, after a slump of 28 per cent in May

DBS Bank India FY21 nearly triples to Rs 312 cr, revenue up 85%

Asset quality under pressure on LVB acquisition

RBI asks banks to shift from LIBOR to alternative reference rates by Dec 31

RBI on Thursday asked banks and financial institutions to use any widely accepted alternative reference rate instead of LIBOR as the reference rate for entering into new financial contracts

Hasty withdrawal of easy policy can undo gains: RBI Guv Shaktikanta Das

Inflation is showing signs of stickiness, but it is only a "transitory hump" that should moderate in the third quarter, he said.

PNB advises Housing arm to rejig Carlyle deal as per Sebi order

PNB Housing to await SAT's order before taking a call on restructuring

RBI imposes penalty of up to Rs 2 cr on 14 banks for non-compliance

The penalty ranges from Rs 50 lakh to Rs 2 crore, with SBI being charged Rs 50 lakh and BoB Rs 2 crore