Page 514 - Finance News
How long will the RBI continue with its extreme accommodative stance?
Status quo expected on Wednesday, but guidance will hold the key for bond market
 "How long will the RBI continue with its extreme accommodative stance?")
Bank asset quality may suffer as impact of relief measures dwindles: Icra
Rating agency has estimated that gross NPAs (excluding write-offs) will rise to 9.6-9.7% by March 31, 2021 and 9.9-10.2% by March 31, 2022 from 8.6% as of March 31, 2020
 "Bank asset quality may suffer as impact of relief measures dwindles: Icra")
HDFC Bank's advances grow 14% YoY in Q4; sequentially up 4.6%
India's largest private sector lender said in a regulatory filing its domestic retail loans in Q4FY21 grew by 7.5% YoY
 "HDFC Bank's advances grow 14% YoY in Q4; sequentially up 4.6%")
RBI distributes portfolios of B P Kanungo among remaining deputy governors
Kanungo was in charge of currency management, IT, payments, forex, legal, other departments
 "RBI distributes portfolios of B P Kanungo among remaining deputy governors")
RBI to go for dovish pause on Wednesday amid inflation, lockdowns: Analysts
RBI will go for a "dovish pause" at Wednesday's policy review announcement amid developments such as inflation rise and a likely impact on growth due to lockdowns on rising Covid cases, analysts said
 "RBI to go for dovish pause on Wednesday amid inflation, lockdowns: Analysts")
Bank of India to allot preferential shares to govt for Rs 3,000 crore
Bank of India said it has convened an extra-ordinary general meeting of shareholders this month for seeking approval to the allotment of preferential shares to the government for Rs 3,000 crore
 "Bank of India to allot preferential shares to govt for Rs 3,000 crore")
Federal Bank's loans grow by 9% growth in FY21, deposits rise by 13 %
Provisional data showed that between early January and March 2021, advances rose Rs 6,696 crore, according to the lender's filing with BSE
 "Federal Bank's loans grow by 9% growth in FY21, deposits rise by 13 %")
J&K Bank to get up to Rs 500 crore to maintain adequate capital buffers
The capital adequacy improved on equity infusion of Rs 500 crore by the J&K government in Q4FY20 and three profitable quarters in FY21
 "J&K Bank to get up to Rs 500 crore to maintain adequate capital buffers")
SC order on interest waiver: PSU Banks may have to take Rs 2,000 cr hit
Public sector banks may have to bear a burden of Rs 1,800-2,000 crore due to SC judgement on the waiver of compound interest on all loan accounts which opted for moratorium during March-August 2020
 "SC order on interest waiver: PSU Banks may have to take Rs 2,000 cr hit")
Banks sanctions Rs 25,586 cr to 114,322 Stand-Up India accounts in 5 years
Banks have sanctioned Rs 25,586 crore to about 1,14,322 beneficiaries under the Stand Up India Scheme in the last five years for promoting entrepreneurship among women and SC & STs.
 "Banks sanctions Rs 25,586 cr to 114,322 Stand-Up India accounts in 5 years")
Rising Covid cases may prompt RBI to maintain status quo on rates: Experts
RBI Governor Shaktikanta Das headed six-member MPC is scheduled to meet from April 5 to 7. The policy meet outcome will be announced on April 7
Like telcos, banks may soon pester customers daily to pay up via messages
Working on an RBI mandate to automate its NPA alert system real-time, instead of manually gauging NPA status at the end of the month, Chennai-based Indian Bank sent a message to its surprised customer
 "Like telcos, banks may soon pester customers daily to pay up via messages")
Laid strong base for growth, aiming at 13.5% CAGR by 2025: Indian Bank MD
Bank announces new vision and mission on first anniversary of Allahabad Bank amalgamation, launches Chatbot and IB Smart Office as well
 "Laid strong base for growth, aiming at 13.5% CAGR by 2025: Indian Bank MD")
Under Modi regime, private banks outnumber PSBs on new rural branches
Since 2014, public sector banks' branch network in rural and semi urban has grown by a mere 4,000 - from 49,859 in 2014 to 53,467 while for private sector banks, it doubled from 9,673 to 18,437
 "Under Modi regime, private banks outnumber PSBs on new rural branches")
NBFCs seek easing of rules on NACH mandate cancellation
NBFC industry body says this facility should work on "best effort" basis and not be made mandatory as most customers are not tech-savvy and are not comfortable with electronic platforms
 "NBFCs seek easing of rules on NACH mandate cancellation")
Capital infusion into PSBs: Preparatory work for privatisation starts
Buoyant market may gradually reduce PSBs' dependence on government for funds
 "Capital infusion into PSBs: Preparatory work for privatisation starts")
HDFC increases rates on FD with different maturities up to 25 bps
Mortgage lender HDFC Ltd has increased interest rates on its various fixed deposit products having different maturities by up to 25 basis points (bps) with effect from March 30.
 "HDFC increases rates on FD with different maturities up to 25 bps")
Bank credit to grow 10% in FY22 on GDP expansion, policy measures: Crisil
NBFCs focused on gold loans and mortgages will be the least affected by the setbacks, Crisil report said
 "Bank credit to grow 10% in FY22 on GDP expansion, policy measures: Crisil")
Walmart's PhonePe leads UPI payments, crosses 1 bn transactions in March
The development comes at a time when UPI has broken a new record, crossing Rs 5 trillion in value in March across 2.73 billion transactions
 "Walmart's PhonePe leads UPI payments, crosses 1 bn transactions in March")
Stressed and not showing: Covid-19 relief hides true picture about banks
Banks seem to be doing better as India's economy recovers from the Covid-19 devastation. But be prepared for shocks when a true picture emerges, writes Devangshu Datta
 "Stressed and not showing: Covid-19 relief hides true picture about banks")