Page 544 - Finance News
Biz returning to pre-Covid levels, Sept strongest month in recovery: HDFC
The individual loan business has continued to see a month-on-month improvement in July-September 2020, HDFC Ltd said in a regulatory filing
 "Biz returning to pre-Covid levels, Sept strongest month in recovery: HDFC")
PNB To lead consortium of banks lending to UP's Gorakhpur Link Expressway
State govt will borrow Rs 2,250 crore in all for the project, PNB's share stands at Rs 750 crore
 "PNB To lead consortium of banks lending to UP's Gorakhpur Link Expressway")
Troubled lender YES Bank's Q2 loans up 1.4% over Q1FY21 to Rs 1,66,854 cr
The loan book shrunk by 2.7 per cent in six months, when compared to outstanding loans of Rs 1,71,443 crore at end of March 2020
 "Troubled lender YES Bank's Q2 loans up 1.4% over Q1FY21 to Rs 1,66,854 cr")
Managing people will be key to success for SBI's CFO Charanjit Singh Attra
How the 49-year-old chartered accountant handles people-related issues in the country's largest public sector bank would be keenly watched
 "Managing people will be key to success for SBI's CFO Charanjit Singh Attra")
SBI chairman Rajnish Kumar's YONO app target isn't overblown: Experts
Globally, payment solution providers such as Visa, MasterCard and PayPal are displacing traditional banks in the pecking order
 "SBI chairman Rajnish Kumar's YONO app target isn't overblown: Experts")
Regional rural banks incur net loss of Rs 2,206 crore in FY20: Nabard
Regional rural banks (RRBs) as a group reported net loss of Rs 2,206 crore in the fiscal year ended March 31, 2020, as against Rs 652-crore net loss in FY19, according to data published by Nabard
 "Regional rural banks incur net loss of Rs 2,206 crore in FY20: Nabard")
Govt to bear interest on interest for small borrowers during moratorium
Any individual whose loan amount is less than Rs 2 crore will be eligible for waiver of the compounding of interest.
 "Govt to bear interest on interest for small borrowers during moratorium")
Govt to waive compound interest during moratorium for some loans: Report
Report says government's decision will benefit those clearing their dues on a variety of loans between March and August
 "Govt to waive compound interest during moratorium for some loans: Report")
This is not the time to lock yourself into long-term fixed deposits
If you invest for the shorter-term now, you will be able to roll over to higher rates when the interest-rate cycle turns
 "This is not the time to lock yourself into long-term fixed deposits")
PNB launches financial inclusion, literacy initiative Gram Sampark Abhiyan
State-owned Punjab National Bank (PNB) on Friday launched a financial inclusion and literacy initiative 'Gram Sampark Abhiyan' to commemorate the 150th birth anniversary of Mahatma Gandhi.
 "PNB launches financial inclusion, literacy initiative Gram Sampark Abhiyan")
'I'm going back home with head held high': Ex-Dhanlaxmi Bank CEO on ouster
The former Managing Director and CEO of Kerala-based Dhanlaxmi Bank Sunil Gurbaxani said he was asked to quit on September 7 itself failing which he would be voted out at the September 30 AGM
 "'I'm going back home with head held high': Ex-Dhanlaxmi Bank CEO on ouster")
Covid-19 impact: Credit ratio at decadal low of 0.54% in H1, says CRISIL
The credit quality pressure on India Inc is likely to persist in H2FY21, with downgrades outnumbering upgrades, according to the rating agency
 "Covid-19 impact: Credit ratio at decadal low of 0.54% in H1, says CRISIL")
RBI okays appointment of CoD to run Dhanlaxmi Bank till appointment of CEO
Dhanlaxmi Bank on Thursday said that the RBI has approved a three-member interim committee of directors, headed by G Subramonia Iyer, to run the private sector bank
 "RBI okays appointment of CoD to run Dhanlaxmi Bank till appointment of CEO")
India must stick to flexible inflation targeting, says Viral Acharya
Flexible inflation targeting policy has faced criticism recently on account of the high weighting given to food items in the inflation basket which have proven highly volatile
 "India must stick to flexible inflation targeting, says Viral Acharya")
Dhanlaxmi Bank's Board appoints committee after shareholders oust CEO
Independent directors G. Subramonia Iyer, G Rajagopalan and P K Vijayakumar form the CoD. Iyer will be chairperson.
With IBC, non-repayment of loan no more an option: CAG Murmu
The insolvency law has led to a significant behavioural shift among borrowers as non-repayment of loan is no more an option and ownership of a firm is no more a divine right, CAG G C Murmu said
Coroanvirus pandemic to leave up to 3.7% of loans as NPAs: Report
ICRA revised down credit growth outlook for banks to 2-3% for the current fiscal, and said the coronavirus pandemic-driven stress may leave 3.1-3.7% of assets into bad loan list by March
 "Coroanvirus pandemic to leave up to 3.7% of loans as NPAs: Report")
ICICI Bank says spends by its customers reach 90% of pre-Covid levels
Earlier in the day, its larger rival HDFC Bank also said that the business has returned to pre-COVID pandemic levels
 "ICICI Bank says spends by its customers reach 90% of pre-Covid levels")
Punjab National Bank reports Rs 1,203-cr fraud by Sintex Industries
Public sector Punjab National Bank (PNB) on Wednesday declared its Rs 1,203.26 crore exposure to Sintex Industries Ltd as fraud.
Lakshmi Vilas Bank shortlists 3 names for MD, CEO post; to send list to RBI
The lender's chief executive S Sundar and six other directors were voted out by shareholders earlier this week
 "Lakshmi Vilas Bank shortlists 3 names for MD, CEO post; to send list to RBI")