Page 554 - Finance News
PE investors, foreign banks taking majority stakes may rescue old pvt banks
Several of these banks were placed under the Prompt Corrective Action (PCA) framework of additional regulator scrutiny but this does not seem to have stemmed the rot
 "PE investors, foreign banks taking majority stakes may rescue old pvt banks")
Lakshmi Vilas Bank gets indicative non-binding offer from Clix Group
The bank's weakening performance, rising slippages in corporate book and the impact on profitability and risk-weighted asset portfolio may further increase capital requirement
 "Lakshmi Vilas Bank gets indicative non-binding offer from Clix Group")
Banks sanction Rs 1.87 trn to 5.07 mn MSMEs under credit guarantee scheme
The Finance Ministry said banks have sanctioned loans of about Rs 1,87,579 crore to 5.07 mn business units under the Rs 3-lakh crore ECLGS for MSMEs impacted by slowdown caused by the pandemic
 "Banks sanction Rs 1.87 trn to 5.07 mn MSMEs under credit guarantee scheme")
SBI biz at 80% of pre-Covid level, says new chairman Dinesh Kumar Khara
Khara's appointment as chairman of SBI was made official by the ministry of finance on Tuesday
 "SBI biz at 80% of pre-Covid level, says new chairman Dinesh Kumar Khara")
Bandhan Bank's collection efficiency ratio at 92 per cent in September
Collection efficiency ratio of private lender Bandhan Bank touched 92 per cent as on September 2020, the bank said in a regulatory disclosure on Wednesday
 "Bandhan Bank's collection efficiency ratio at 92 per cent in September")
SBI is future-ready and in Dinesh Khara's safe hands: Rajnish Kumar
Kumar's last day in office was on October 6. He had been in the bank as chairman for three years and served it in various capacities for almost 40 years
 "SBI is future-ready and in Dinesh Khara's safe hands: Rajnish Kumar")
Indian banks say govt interest waiver will add to costs, spark litigation
The change will waive the compounded interest component on small business loans and some personal debts from March to August
 "Indian banks say govt interest waiver will add to costs, spark litigation")
Reserve Bank's monetary policy decision to be announced on Friday
With three external members of MPC appointed, the committee will meet from October 7 to October 9
 "Reserve Bank's monetary policy decision to be announced on Friday")
Axis Bank joins India's top private lenders to offer pay hikes up to 12%
Axis Bank Ltd. will increase staff salaries between 4% and 12% from Oct. 1 based on performance, according to people with knowledge of the plans
 "Axis Bank joins India's top private lenders to offer pay hikes up to 12%")
Jayanth Varma, Ashima Goyal, Shashanka Bhide: New members of RBI MPC
The three new members represent a diversity of experience and have engaged with policy making through their careers
 "Jayanth Varma, Ashima Goyal, Shashanka Bhide: New members of RBI MPC")
Indian banks face tough operating environment in near term: Fitch
Fitch Ratings on Tuesday said Indian banks face a tough operating environment in the near term as stressed loans and write-offs increase due to the economic fallout from the coronavirus pandemic
 "Indian banks face tough operating environment in near term: Fitch")
New members give RBI's MPC dovish tilt; to hold rates on Oct 9: Analysts
Rising inflation, according to economists, is another cause for concern
RBI widely expected to keep rates steady at MPC meeting ending Friday
The RBI said it will hold the MPC meeting from Oct 7 to Oct 9, having delayed it by a week in order to give the government time to appoint three new external members to the panel
 "RBI widely expected to keep rates steady at MPC meeting ending Friday")
SBI looking to hive off Yono into separate subsidiary, says Rajnish Kumar
He said once Yono becomes an independent entity then even SBI would become its user or one of the users.
 "SBI looking to hive off Yono into separate subsidiary, says Rajnish Kumar")
YES Bank plans to bring down credit-to-deposit ratio to below 100% by March
The lender, which is an associate of State Bank of India, disbursed Rs 3,795 crore to the retail segment during July-September.
 "YES Bank plans to bring down credit-to-deposit ratio to below 100% by March")
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