Page 515 - Finance News
P-notes investment climbs to 33-month high at Rs 91,658 crore in Feb
Investments through participatory notes in the capital market rose to Rs 91,658 crore at February-end, making it the highest level in 33 months, suggesting growing confidence of overseas investors
 "P-notes investment climbs to 33-month high at Rs 91,658 crore in Feb")
RBI Dy Guv Kanungo may get extension; interviews to find successor nixed
The move comes at a time when the central bank is working on digital currency
 "RBI Dy Guv Kanungo may get extension; interviews to find successor nixed")
Remote working to push demand for cyber insurance: IRDAI official
Insurers are confronting a new reality in the COVID-19 situation as a long- term disruption to the customers, employees, investors and suppliers
 "Remote working to push demand for cyber insurance: IRDAI official")
More banks likely to join RBI's list of 'systemically important banks'
Move result of change in pecking order post-mergers
 "More banks likely to join RBI's list of 'systemically important banks'")
AT1 bonds: Over Rs 11,000 cr worth call option due for SBI in FY22
Here is look at outstanding AT1 bonds of select banks and amount for call option in due in FY22
 "AT1 bonds: Over Rs 11,000 cr worth call option due for SBI in FY22")
Advisors push AT1 bonds to HNIs to take advantage of surge in yields
Yields of perpetual bonds issued by State Bank of India and Bank of Baroda, for instance, have gone up by as much as 80-90 basis points (bps), and top recommendation lists of most managers
 "Advisors push AT1 bonds to HNIs to take advantage of surge in yields")
We'll be selective in our lending decisions, says IDBI Bank's Rakesh Sharma
IDBI Bank, which came out of PCA last week, says processes have been strengthened and past mistakes will not be repeated
 "We'll be selective in our lending decisions, says IDBI Bank's Rakesh Sharma")
Punjab National Bank sets-up subsidiary to manage credit card business
State-run Punjab National Bank (PNB) has set up a wholly-owned subsidiary to manage its credit card business, the bank said on Wednesday.
 "Punjab National Bank sets-up subsidiary to manage credit card business")
NPAs expected to increase in first half of 2021: FICCI-IBA survey
Asset quality of banks is likely to worsen during the first six months of 2021, according to a survey
 "NPAs expected to increase in first half of 2021: FICCI-IBA survey")
How Indian Bank-Allahabad Bank amalgamation proved an unlikely success
The merger was complicated by the fact that the government had not allowed post-merger lay-offs for any of the banks under this process
 "How Indian Bank-Allahabad Bank amalgamation proved an unlikely success")
RBI fines SBI Rs 2 cr for commission payment to employees
The RBI said it fined the bank after finding the lapses while doing statutory audits for the year ended March 31, 2017 and March 31, 2018
 "RBI fines SBI Rs 2 cr for commission payment to employees")
CBI books Shiv Vani Oil, two promoters for defrauding PNB of Rs 253 cr
Banks, NBFCs are estimated to have given Rs 3,587 crore to company accused of criminal conspiracy, cheating
Magma HDI general insurance raises Rs 525 cr from various investors
ICICI Venture, Morgan Stanley PE Asia, Cyza Chem have put in money
 "Magma HDI general insurance raises Rs 525 cr from various investors")
Reserve Bank imposes Rs 2 crore penalty on SBI for contravention of norms
RBI imposed a penalty of Rs 2 crore on State Bank of India (SBI) for contravention of norms, including specific directions to the lender on remuneration to its employees in the form of commission.
 "Reserve Bank imposes Rs 2 crore penalty on SBI for contravention of norms")
Banking services disrupted across Maharashtra on Day 2 of nationwide strike
The two-day pan-India bank strike ended today, with the disruption in services including cash withdrawals, deposits, loan disbursements and cheque clearances hitting customers hard across Maharashtra.
 "Banking services disrupted across Maharashtra on Day 2 of nationwide strike")
Parl Panel suggests systemic review by RBI to pre-empt IL&FS type crisis
A Parliamentary panel on Tuesday suggested a thorough systemic review by the Reserve Bank to pre-empt IL&FS kind of crisis, involving systemically important entities
 "Parl Panel suggests systemic review by RBI to pre-empt IL&FS type crisis")
Not all banks will be privatised, interest of workers to be protected: FM
'Even for those banks which are likely to be privatised, the privatised institutions too will continue to function after privatisation, the interests of the staff will be protected,' said Sitharaman
 "Not all banks will be privatised, interest of workers to be protected: FM")
Privatisation of PSU banks will compromise financial security: Cong MP
Congress MP Ravneet Singh on Tuesday said privatisation of public sector banks will compromise financial security
 "Privatisation of PSU banks will compromise financial security: Cong MP")
Nationwide bank strike continues to impact PSB services on second day
Bank strike continued for day-two on Tuesday, led by nine unions of public sector banks (PSBs) in the country, opposing government's policy to privatise the lenders
 "Nationwide bank strike continues to impact PSB services on second day")
Cheque clearing to be done at all bank branches by September 30
The measure was first announced during February policy meet of RBI, but the guidelines were to be issued by March
 "Cheque clearing to be done at all bank branches by September 30")