Page 503 - Finance News
BharatPe plans to disburse Rs 14,000 cr in business loans by March 2023
The fintech company, which is soon expected to become a unicorn, has raised Rs 50 crore in debt from Northern Arc Capital
 "BharatPe plans to disburse Rs 14,000 cr in business loans by March 2023")
Relief to only postpone financial stress from India's Covid surge: Fitch
There are growing indications that India's latest wave of Covid-19 infections will add to risks among financial institutions by sapping near-term momentum from the economic recovery
 "Relief to only postpone financial stress from India's Covid surge: Fitch")
RBI modifies norms for undertaking govt business by private banks
The Reserve Bank on Monday came out with modified guidelines that allow sound private sector banks to undertake government business, whether at the Centre or in states.
 "RBI modifies norms for undertaking govt business by private banks")
Jose Kattoor named RBI Executive Director with effect from May 4
In charge of Human Resource Mgt Dept, Corporate Strategy and Budget Dept and Rajbhasha
IDBI Bank: A dilemma of 'parallel sales' in the Indian financial sector
A buyer of the government's stake will have to contend with simultaneous market sales by the other major shareholder, LIC
 "IDBI Bank: A dilemma of 'parallel sales' in the Indian financial sector")
LIC's holding in listed companies at all-time low on profit booking in Q4
Insurance behemoth LIC opted for profit-booking by selling its equity stakes in companies during the March quarter, a report said on Monday
 "LIC's holding in listed companies at all-time low on profit booking in Q4")
Former Irdai chairman asks insurers to concentrate on prevention of risk
In the first two quarters after the onset of the Covid-19 pandemic, the insurance industry suffered negative growth. But, it bounced back as soon as the economy opened up post the lockdown
 "Former Irdai chairman asks insurers to concentrate on prevention of risk")
Plea filed with SC seeking moratorium of 6 months on repayment of bank dues
It is not clear yet if the plea has been admitted by the Court, and if so, what further action the RBI could take
 "Plea filed with SC seeking moratorium of 6 months on repayment of bank dues")
RBI relief will only delay stress for financial institutions, says Fitch
Measures would help for 12-24 months but at the expense of delaying the resolution of asset-quality problems, says agency.
 "RBI relief will only delay stress for financial institutions, says Fitch")
IDFC First Bank planning to make home loans 40% of total portfolio
The bank has started offering prime home loans to employees of top corporates starting at 6.9 per cent
 "IDFC First Bank planning to make home loans 40% of total portfolio")
RBI in Impossible Trinity but ready with reserves, say economists
The RBI cannot have an independent monetary policy (setting domestic interest rates) in an environment of an open capital account and flexible exchange rates, they say
 "RBI in Impossible Trinity but ready with reserves, say economists")
With banks blindsided by Covid-19, incidence of fraud may well have gone up
RBI's supervisory load has also gone up, with both non-banking financial companies and urban co-operative banks coming under closer scrutiny
 "With banks blindsided by Covid-19, incidence of fraud may well have gone up")
Despite Q4 surge, securitisation volumes fall short of Rs 1 trn in FY21
Securitisation deals in Q4FY20-21 amounted to Rs 40,000 crore, to become the highest-grossing quarter for the 2020-21 fiscal year
 "Despite Q4 surge, securitisation volumes fall short of Rs 1 trn in FY21")
India needs more women finance professionals
In the new economy, home is also a workspace. Because a household is a microcosm of an economy, women have had the training ground to build intuitive understanding of saving, investing and liquidity
 "India needs more women finance professionals")
2,118 branches of state-run banks closed or merged in last fiscal: RTI
As many as 2,118 branches of 10 public sector banks have either been closed or merged with other banks in the last fiscal, according to an RTI reply
 "2,118 branches of state-run banks closed or merged in last fiscal: RTI")
National Asset Reconstruction Company to be operational next month: IBA CEO
National Asset Reconstruction Company Ltd (NARCL), the name coined for the bad bank announced in the Budget 2021-22, is expected to be operational in June
 "National Asset Reconstruction Company to be operational next month: IBA CEO")
IDFC First Bank's net profit up 79% at Rs 127.81 cr in March quarter
IDFC First Bank on Sunday reported a 78.6 per cent increase in its net profit for the quarter ended March at Rs 127.81 crore.
CSB Bank reports highest-ever net profit of Rs 218 crore in FY21
During the last quarter ended March of FY21, the lender reported a net profit of Rs 42.89 crore against a loss of Rs 59.70 crore in the same quarter of 2019-20
 "CSB Bank reports highest-ever net profit of Rs 218 crore in FY21")
FinMin asks PSU banks to keep high vigil on attempt to seize funds by Cairn
UK's Cairn Energy plc has been awarded $1.2 billion against India
 "FinMin asks PSU banks to keep high vigil on attempt to seize funds by Cairn")
Bank credit shrinks by Rs 89,087 cr in April on second wave impact
The bank credit expanded by 5.7 per cent in 12 months till April 23, 2021, as against 6.8 per cent a year ago