Page 492 - Finance News
India's bank credit-to-GDP ratio inches up to 56% in 2020: BIS data
The country's credit-to-GDP ratio improved to 56.075 per cent in 2020 from a low of 52.7 per cent in 2019.
 "India's bank credit-to-GDP ratio inches up to 56% in 2020: BIS data")
RBI prescribes guidelines for distribution of dividends by NBFCs
The guidelines shall be effective for declaration of dividend from the profits of the financial year ending March 31, 2022 and onwards
 "RBI prescribes guidelines for distribution of dividends by NBFCs")
Regulatory wrinkles should be ironed out to give HFCs a better deal: Parekh
Parekh said his personal view was that Regulation and supervision are critical functions in any financial system and it is important that trust between a regulator and regulatee is never compromised.
 "Regulatory wrinkles should be ironed out to give HFCs a better deal: Parekh")
Have redoubled efforts to fix problem of tech outages: HDFC Bank CEO
Irked by repeated outages that the bank faced, RBI had barred it from issuing new credit cards last December and stopped it from going ahead with new digital launches
 "Have redoubled efforts to fix problem of tech outages: HDFC Bank CEO")
ED attached assets more than money due to banks: Mehul Choksi's lawyer
Vijay Mallya, Nirav Modi, and Mehul Choksi had allegedly defrauded various PSBs by siphoning off the funds through their companies, resulting in a total loss of Rs. 22,585.83 crore to the banks.
 "ED attached assets more than money due to banks: Mehul Choksi's lawyer")
'Money is being thrown' at them but millennials don't want to be bankers
For those who want to stay in finance, non-bank financial institutions, growth equity firms and other, smaller financial-services businesses have become better options.
 "'Money is being thrown' at them but millennials don't want to be bankers")
Govt seeks to appoint advisors to assist IDBI Bank privatisation
The govt plans to sell its 45.48% shareholding in the lender. LIC, which owns 49.24%, will also offload its stake to transfer management control to new buyer
 "Govt seeks to appoint advisors to assist IDBI Bank privatisation")
PNB Housing controversy puts spotlight on independent valuer rule
Inconsistencies between the Companies Act and the Issue of Capital Regulations to be debated before SAT
 "PNB Housing controversy puts spotlight on independent valuer rule")
I-T dept tool to identify 'specified persons' who have to pay higher taxes
The income tax department has developed a new utility to help TDS deductors and TCS collectors identify the 'specified persons' on whom higher rate of taxes will be levied from July 1
 "I-T dept tool to identify 'specified persons' who have to pay higher taxes")
SAT allows vote on Carlyle's Rs 4,000-crore infusion in PNB Housing
Results not allowed to be disclosed; Tribunal allows Tuesday EGM to go ahead
RBI likely to go against convention on raising funds through bonds
This gives credence to the theory that the central bank may not want to issue a fresh set of 10-year paper in a hurry and would rather continue with the existing security
 "RBI likely to go against convention on raising funds through bonds")
State-owned banks likely to see lower gains in bond book in FY22: Icra
Limited headroom for yields to decline further, says rating agency
SBI gets central board's nod to raise Rs 14,000 crore via bonds
The country's largest lender SBI on Monday said its central board has approved a proposal to raise up to Rs 14,000 crore by issuing Basel-III compliant bonds
 "SBI gets central board's nod to raise Rs 14,000 crore via bonds")
Industry must make pricing of financial products transparent: RBI Dy Guv
RBI Deputy Governor T Rabi Sankar on Monday urged the industry to make the pricing of financial products and services transparent to minimise chances of mis-selling
 "Industry must make pricing of financial products transparent: RBI Dy Guv")
James Murdoch weighs tapping billionaire families for India investments
His Lupa Systems is looking for about $150 million each from fewer than half-a-dozen family offices.
 "James Murdoch weighs tapping billionaire families for India investments")
Saudi positions new pension fund to challenge world's top investors
New entity will have assets of over $250 billion, compared to Japan's Government Pension Investment Fund, the largest in the world.
 "Saudi positions new pension fund to challenge world's top investors")
HSBC aims to be top Asia wealth manager in 5 yrs, eyes China middle class
The London-based bank has outlined ambitious plans to expand in wealth management, particularly in China.
 "HSBC aims to be top Asia wealth manager in 5 yrs, eyes China middle class")
BharatPe: How the payments startup won a rare banking licence in India
Reserve Bank of India rewards the company and its partner, Jaspal Bindra, for agreeing to help revive Punjab & Maharashtra Co-operative Bank.
The mistake crypto crowd makes: it doesn't understand monetary economics
Crypto has been a highly unusual asset class for its entire history, but it won't act like that forever.
 "The mistake crypto crowd makes: it doesn't understand monetary economics")
Will co-lending in new avatar fly? It may, but not in a way it was imagined
One problem that is yet to be fully resolved is how to marry the low-cost funds of banks with the lower operational costs of NBFCs, and pass on the benefit to borrowers through a blended rate
 "Will co-lending in new avatar fly? It may, but not in a way it was imagined")