Page 502 - Finance News

Banks make a beeline at Covid vaccine makers' doorstep to offer loans

Amid feeble credit offtake due to local lockdowns this year, lenders sanction Rs 6,000-crore line of credit to SII

PMC depositors allowed to withdraw up to Rs 5 lakh for Covid treatment: RBI

RBI filed a response in Delhi HC, stated that depositors of PMC Bank are already allowed to withdraw up to Rs 5 lakhs on hardship grounds for treatment of terminal illnesses, including Covid treatment

DFS Secy urges states to vaccinate bank and insurance staff, provide safety

Debasish Panda says bankers have played a key role in providing services in such difficult times, many have contracted the virus, and some have even lost their lives

RBI tells lenders to reconsider ties with crypto exchanges, traders

The guidance comes as India is crafting a law to ban cryptocurrencies and penalise anyone dealing in them, which would be among the most sweeping crackdowns on the new investing fad in the world

Second Covid wave: Auto-debit payment bounce rate increases again in April

Experts say the rise may continue, given the lockdowns

Sponsor investments in IFSC AIFs to come under the automatic route

RBI relaxation to allay round tripping concerns associated with sponsor commitment and shorten fund set-up time in IFSC

God's own patience: Meet Padmakumar Madhavan Nair, MD & CEO of NARCL

His staying power was in evidence during the groundwork for the resolution of the debt owed by Anil Ambani-controlled Reliance Communication which involved over 50 lenders

RBI cancels licence of West Bengal-based United Cooperative Bank

RBI said the bank does not have adequate capital and earning prospects

IDBI Bank to cap corporate exposure to Rs 500 crore: Here're the details

The bank is also looking to grow its Rs 45,000 crore corporate book by about 10 per cent.

G-SAP: Second tranche of bond buying worth Rs 35k cr on May 20, says RBI

The RBI had said on May 5 that it will buy Rs 35,000 crore bonds from the market, including the benchmark 10-year bonds

Microfinance institutions want additional relief measures from RBI

In a letter to RBI Governor Shaktikanta Das, MFI association SaDhan has sought a special liquidity facility of at least Rs 15,000 crore to be provided by all-India financial institutions

MFIs request RBI for emergency credit line as collections take a hit

Seek up to 25% of their outstanding with lending banks, which would help them mobilise Rs 15,000 cr

Reserve Bank announces Rs 35,000 crore G-sec Acquisition Programme

RBI announced the second tranche of Open Market Purchase of Government of India Securities under G-sec Acquisition Programme (G-SAP 1.0)

State Bank of India's Padmakumar M Nair named as CEO of proposed bad bank

Prior to his elevation in 2020, he worked as general manager in the SARG from 2017.

Govt likely to drop plan to decriminalise cheque bounce offences

It would seek directions from a Supreme Court panel formed to expedite the pendency of cheque bounce cases before taking a final call

Top YES Bank investor Bay Tree cuts stake in troubled lender by a third

Bank has cut back lending to companies and tried to win back depositors after being rescued in March 2020,.

Lazy banking: Banks' bond investment surpasses loans

Standard Chartered's Sahay said the gap between investments and advances will narrow only gradually

Microfinance sector seeks RBI's additional support to combat second wave

The microfinance industry has sought additional support, including an extension of the emergency credit line, from the RBI to combat the challenges arising out of the second COVID-19 wave.

IDBI Bank board to consider proposal to raise equity capital on May 15

The board of IDBI Bank will consider the proposal to raise equity capital through various modes in its meeting on May 15

J&K Bank defers board meet on proposed Rs 500 cr-capital infusion from govt

Jammu & Kashmir Bank (J&K Bank) has postponed its board meeting to discuss the proposal of Rs 500 crore capital infusion from the state government