Page 523 - Finance News
Government may compensate banks for loss of MDR, says IT secretary
The move is part of the Budget proposal, where the government has earmarked Rs 1,500 crore for the promotion of digital payments this fiscal
 "Government may compensate banks for loss of MDR, says IT secretary")
Bond investors see RBI curbing yields as India looks to sell $3.6 bn bonds
The bond auctions Thursday drew lower-than-expected cutoff yields, including 5.9726% on the benchmark 10-year note, compared with 6.03% estimated in a Bloomberg News survey
 "Bond investors see RBI curbing yields as India looks to sell $3.6 bn bonds")
RBI's currency strategy flooding the market with more foreign funds
The RBI's outstanding forwards book grew to $28.3 billion as of November from a negative $4.9 billion in the fiscal year 2019-20, highlighting the extent of its operations
 "RBI's currency strategy flooding the market with more foreign funds")
Economic recovery reduces slippage risk for Indian PSBs: Moody's
"While the government's capital infusion into public sector banks will help them meet Basel capital requirements, it will not boost credit growth," the agency said
 "Economic recovery reduces slippage risk for Indian PSBs: Moody's")
Regulator unveils framework for lawyers, consultants and others at GIFT
Circular covers eligibility and other norms for providing ancillary services in such centres
 "Regulator unveils framework for lawyers, consultants and others at GIFT")
Karur Vysya Bank Q3 profit up 133% at Rs 35 cr, net NPA down at 2.55%
Net interest margin stands at 3.29% and is almost flat as compared to 3.33% a year ago
 "Karur Vysya Bank Q3 profit up 133% at Rs 35 cr, net NPA down at 2.55%")
Economic recovery lowers risk of PSBs' asset quality deterioration: Moody's
Moody's Investors Service on Thursday said India's economic recovery reduces the risk of a sharp deterioration in public sector banks' asset quality
 "Economic recovery lowers risk of PSBs' asset quality deterioration: Moody's")
Explained: Why Tamilnad Mercantile Bank management is banking on an IPO
The management of this small, conservative bank views a public issue as a means of ending a long shareholder feud and unlocking value for its next phase of growth
 "Explained: Why Tamilnad Mercantile Bank management is banking on an IPO")
Five-fold spike in BoI's Q3 net at Rs 541 cr as NPA provisions dip
The lender's net interest income and margin shrink year-on-year, non-interest income also declines
 "Five-fold spike in BoI's Q3 net at Rs 541 cr as NPA provisions dip")
SBI aims to double home loan portfolio in next 5 years to Rs 10 trillion
Aims to achieve Rs 7 trillion by FY24, currently has 34% market share in the segment
 "SBI aims to double home loan portfolio in next 5 years to Rs 10 trillion")
Indian investors join the bitcoin party after Tesla CEO Musk's endorsement
Bitcoin has been on fire ever since Musk announced that Tesla had bought $1.5 billion of the cryptocurrency, and that his electric-vehicle company would accept bitcoin from buyers
 "Indian investors join the bitcoin party after Tesla CEO Musk's endorsement")
Complaints against banks and mobile banking to RBI soar: Report
Disposal rate of more than 92 per cent was achieved, according to the RBI
 "Complaints against banks and mobile banking to RBI soar: Report")
Central Bank Q3 net up 6.45% at Rs 165 cr on better net interest and margin
Other income down 38% to Rs 774 crore; provisions & contingencies decline to Rs 7,437 crore from Rs 12,492 crore
 "Central Bank Q3 net up 6.45% at Rs 165 cr on better net interest and margin")
Bank Unions plan to go on strike against privatisation on March 15-16
Meet in Hyderabad to discuss Budget announcements on privatisation of IDBI Bank and two Public Sector Banks, setting up bad bank, LIC disinvestment among other things
 "Bank Unions plan to go on strike against privatisation on March 15-16")
Why dividing central bankers into hawks and doves misses the big picture
Reducing central bankers to caricatures risks missing the big picture. These days, policy makers have to be more nimble
 "Why dividing central bankers into hawks and doves misses the big picture")
RBI to buy bonds worth Rs 20,000 crore via open market operations on Feb 10
The central bank on Friday devolved nearly the entire bond auction on primary dealers, as the markets were demanding higher yields for five-year and 10-year bonds being sold
 "RBI to buy bonds worth Rs 20,000 crore via open market operations on Feb 10")
Securitisation recovers in Q3, up 61% at Rs 24,400 cr for shadow banks
Rating agency Icra estimates annual for FY21 securitisation at Rs 80,000-90,000 crore
 "Securitisation recovers in Q3, up 61% at Rs 24,400 cr for shadow banks")
Bank of Maharashtra ties up with LoanTap Credit for co-lending to MSMEs
State-owned Bank of Maharashtra on Monday said it has entered into a co-lending agreement with the Pune-based non-banking financial company LoanTap Credit Products, for MSME loans.
 "Bank of Maharashtra ties up with LoanTap Credit for co-lending to MSMEs")
RBI tightening oversight of big NBFCs to avoid systemic spillovers: Moody's
India's risk-based internal audit requirement for non-banking finance companies is credit positive, Moody's Investors Service said
 "RBI tightening oversight of big NBFCs to avoid systemic spillovers: Moody's")
RBI plans Rs 3 trillion in sovereign bond purchases to cap yield at 6%
The Reserve Bank of India has so far bought about Rs 2.5 trillion of net debt in the current financial year