Page 555 - Finance News

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

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 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

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

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.

'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

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

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

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

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

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

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, Clix Capital reaffirm commitment to ongoing merger

Major portion of due diligence completed; application to RBI is likely in one - two weeks

HDFC Bank, ICICI Bank bring sops for customers ahead of festive season

HDFC Bank's business is back to pre-covid levels, says Aditya Puri

Non-food bank credit growth decelerated to 6% in August, shows RBI data

Non-food bank credit growth decelerated to 6 per cent in August as against 9.8 per cent in the same month last year, RBI data showed on Wednesday.

Coronavirus pandemic to leave up to 3.7% of loans as NPAs: Report

Earlier, ICRA had forecast credit growth for banks at 6-7 per cent

RBI excludes six PSBs from Second Schedule of RBI Act; cites merger

The six banks are Syndicate Bank, Oriental Bank of Commerce (OBC), United Bank of India, Andhra Bank, Corporation Bank, and Allahabad Bank