Page 488 - Finance News
Credit card buys seen 8% lower in Apr-June quarter, say analysts
Among players in the credit card segment, HDFC Bank, despite a ban on issuing new credit cards, retained a sizeable, and, perhaps, the largest market share in spends, at 27 per cent in May.
 "Credit card buys seen 8% lower in Apr-June quarter, say analysts")
DBS Bank India eyes self-sufficiency in capital within next 3-5 yrs
Lender aims to reduce net NPA below 2%; Grow CASA to 40% level
 "DBS Bank India eyes self-sufficiency in capital within next 3-5 yrs")
JPMorgan notches record quarter on merger flurry, $3-bn reserve release
JPMorgan released $3 billion in reserves it had previously set aside for bad loans, almost twice as much as analysts had predicted.
 "JPMorgan notches record quarter on merger flurry, $3-bn reserve release")
India sets up bad bank to reduce debt burden, free up lenders
National Asset Reconstruction Company Ltd's paid-up capital is Rs 74.6 crore
 "India sets up bad bank to reduce debt burden, free up lenders")
Liquidity in the banking system rises as govt steps up spending
Net daily liquidity absorbed from banks on July 9 was Rs 4.6 trillion, data released on Monday showed
 "Liquidity in the banking system rises as govt steps up spending")
HDFC Bank's loss is ICICI Bank's gain on credit cards: Check details here
Between December and May, HDFC Bank's credit card kitty saw a drop of 528,447 cards while that of ICICI Bank increased 1.16 million, the highest by any lender during the period
 "HDFC Bank's loss is ICICI Bank's gain on credit cards: Check details here")
PNB Housing to SAT: Sebi can't compel us as AoA is just a contract
It argued that AoA cannot override the Sebi's ICDR (Issue of Capital and Disclosure Requirements) regulations, which listed firms have to follow for issuing preferential allotments
 "PNB Housing to SAT: Sebi can't compel us as AoA is just a contract")
RBI offers hassle-free trading in govt bonds for retail investors
Online portal will give access to the bond trading platform available for institutional investors; retail investors can also bid for bonds in primary auctions as large institutions do
 "RBI offers hassle-free trading in govt bonds for retail investors")
Liquidity buffer of NBFCs has improved over last year, says Crisil
But the pace of improvement in collection efficiency, the third of the wave of the pandemic, and access to funds need to be closely monitored, rating agency says
 "Liquidity buffer of NBFCs has improved over last year, says Crisil")
Only nine large firms' debt of Rs 59,000 crore recast by banks so far
Kamath panel approved all the nine proposals of banks
 "Only nine large firms' debt of Rs 59,000 crore recast by banks so far")
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.
 "Banks explore the option of invoking personal guarantee of promotion")
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
 "Given nod to set up small finance bank to take over PMC Bank: RBI to HC")
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
 "Non-bank financial entities' restructured loans to rise 3.3% by March: ICRA")
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
 "Exim Bank lends $35.26 mn for Senegal power project executed by Kalpataru")
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
 "Restructured loans of non-bank financials to double by March: 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
 "Status check: Banks are yet to build up a robust 'Covid loan book'")
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.
 "Govt moves deadline for legal advisors to bid for managing IDBI Bank sale")
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
 "Equitas SFB gets RBI nod to apply for amalgamation of promoter into itself")
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.
 "Federal Bank gets RBI nod to re-appoint Shyam Srinivasan as MD for 3 yrs")
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
 "Send bank staff in sensitive operations on leave without intimation: RBI")