Page 500 - Finance News

RBI says economic cost of second Covid-19 wave may be limited to Q1

Government must now step up expenditure to boost demand for private investment and consumption, said RBI

Every third banknote in circulation is a Rs 500: RBI annual report

The share of Rs 2,000 notes, however, has been declining both in value and volume terms.

In pandemic year, bank frauds down 25% by value: RBI annual report

In terms of number, fall is 15%; share of PSBs in cases declines

Banks in better position to manage stress in second Covid-19 wave: RBI

But lenders need to prepare for higher provisioning, monitor asset quality, says RBI

RBI's forex gains enabled it to give Rs 1-trillion dividend to govt

An accounting change enabled the central bank to book gains from the sale of foreign currency against the historical weighted-average holding cost.

UCO Bank gets board nod for Rs 3,000-cr equity capital raise in FY22

State-owned UCO Bank on Thursday said its board has approved raising Rs 3,000 crore equity capital for the current fiscal year.

UCO Bank Mar qtr net profit jumps about five-folds to Rs 80 crore

The Kolkata-headquartered lender had posted a net profit of Rs 16.78 crore in the corresponding a year ago.

Banks need to monitor asset quality, prepare for higher provisioning: RBI

RBI also expressed confidence that banks are better positioned than before in managing stress in their balance sheets in view of higher capital buffers

In three years, RBI pulls out over 900 mn notes of Rs-2,000 denomination

Rs-2,000 notes comprised only 2% by volume of total floating currency notes as of March 31, 2021, compared with 3.3% in 2018

Economy not as hard hit as 1st wave, uncertainties remain: RBI Report

India's economy has not moderated to the extent it did during the first wave but uncertainties can act as a deterrent in the short term, the Reserve Bank of India said on Thursday

RBI governor meets private bank chiefs over measures to ease Covid pain

The PSB chiefs, who met Das last week on the same issue, demanded a second recast option for those already restructured last year

Second wave: HDFC Bank concerned over retail asset quality in near-term

Borrowers who had to avail cover under regulatory dispensations like moratorium and restructuring after the first wave will be the highest impacted, its chief executive said

Cyberattacks could trigger more rating actions on banks, says S&P

The banking sector is becoming more exposed to cybercrime after the Covid-19 pandemic accelerated digitalization and remote working

HDFC to raise up to Rs 7,000 cr by issuing bonds on private placement basis

HDFC Ltd on Tuesday said it will raise up to Rs 7,000 crore by issuing bonds on private placement basis.

Ensure continuity in provision of financial services: RBI guv to pvt banks

RBI Governor Shaktikanta Das on Tuesday asked private sector banks to ensure continuity in the provision of various financial services, including credit facilities to individuals and businesses

Rise in cyber crime post Covid is growing risk to bank ratings: S&P

The banking sector is becoming more exposed to cyber crime after Covid-19 pandemic accelerated digitalisation and remote working, S&P Global Ratings said on Tuesday

BlackRock joins funds betting on rebound of Indian assets amid pandemic

Portfolio managers attempt to navigate India's pandemic by focusing on the nation's long-term growth prospects.

Bank credit grows by 6.02%; deposits up by 9.87%, RBI data shows

In fiscal year 2020-21, bank credit had grown by 5.56 per cent and deposits by 11.4 per cent.

Banks in India report loan fraud worth Rs 5 trn, SBI's amount largest

Data showed 90 banks and financial institutions reported a total of 45,613 cases of loan fraud till March 31, 2021

RBI issues guidelines for merging district central co-op banks with state ones

This is subject to various conditions, including that a proposal should be made by the state government concerned.