Page 560 - Finance News

Supreme Court to begin hearing SBI's plea against Anil Ambani today

A banker said Ambani has objected to the SBI invoking personal guarantees under the Corporate Debtors Regulations, 2019

LS passes legislation to bring cooperative banks under RBI's supervision

In a bid to protect the interest of depositors, the Lok Sabha on Wednesday passed an amendment to the Banking Regulation Act to bring cooperative banks under the supervision of the RBI

Fraud-hit PMC approaches other banks for possible merger: Administrator

PMC has "tried to engage with the major banks of the country to request for a merger", the bank's administrator said in a Sept 10 filing at the Delhi High Court

Will take necessary measures to promote growth: RBI Guv Shaktikanta Das

RBI Governor Shaktikanta Das assured the industry that the central bank will take all necessary measures to ensure liquidity in the system and promote economic growth

As Covid ravages India, NBFCs ride out the storm with help of stimulus

India's non-bank lending sector was hit by a crisis in 2018 when a large financier unexpectedly defaulted, and the nation now needs it to stay healthy

Huge liquidity surplus unlikely to be inflationary, say economists

Instead of pushing up inflation, the huge surplus liquidity, bordering at Rs 7 trillion daily, is helping in policy rate transmission and aiding govt to borrow at a cheaper rate

RBI proposes to launch exchange-traded, OTC interest rate derivatives

Products to be accessible to foreign investors and retail participants too, but latter can only use for hedging

Debt restructuring scheme may soften blow of Covid-19 on books of PSBs

Except for a few, most PSBs face major challenges in raising capital from the market, given the low premium

Clix Group completes due diligence of LVB ahead of proposed amalgamation

The two parties had earlier agreed to extend the due diligence exclusivity period till September 15 due to prevailing Covid-19 pandemic situation

New banking bill gives RBI powers to restructure co-operative banks

The new Banking Regulation (Amendment) Bill, 2020, introduced by the government on the first day of the Parliament's Monsoon Session, provides the RBI powers to restructure cooperative banks

Three external members of MPC may get a short extension next week

The pandemic situation has prompted the move even as the search committee is looking for fresh external candidates, according to the government sources

Banks' NPAs in large industry, services dip 31% in over 2 yrs to Rs 4.3 trn

Banks' non-performing assets in large industry and services declined 31 per cent in over two years to about Rs 4.36 trillion in June this year, Parliament was informed on Monday

RBI pulls up banks over delay in automating NPA recognition process

Banks were advised in August 2011 to have appropriate IT systems for identification of NPAs and generation of related data/returns

Govt to infuse Rs 20,000 cr in public sector banks; seeks parliamentary nod

The government has infused Rs 3.5 trillion in PSBs in the last few years, with the previous round of recapitalisation taking place in September 2019

ICICI Bank exempted from paring stake in insurance subsidiaries for 3 yrs

ICICI Bank on Monday said it has got exemption from paring stake in its life and non-life subsidiaries to 30 per cent for a period of three years.

Central Bank of India reduces MCLR by 5 basis points across all tenors

Central Bank of India has reduced its marginal cost of funds-based lending rates (MCLR) by 5 basis points (bps) across all tenors, effective from Tuesday

Govt to infuse Rs 20,000 cr in public sector banks; seeks parliamentary nod

The government has infused Rs 3.5 trillion in PSBs in the last few years, with the previous round of recapitalisation taking place in September 2019

No proposal for raising FII limit in public sector banks to 49%: Thakur

There is no proposal for raising FII ceiling in public sector banks to 49 per cent from 20 per cent for capital mobilisation, Minister of State for Finance Anurag Singh Thakur informed the Lok Sabha

ICICI Lombard General Insurance inks bancassurance tie up with YES Bank

Private sector general insurer ICICI Lombard General Insurance Company Ltd said it has entered into a bancassurance tie-up with Yes Bank for selling its insurance products

Spike in bank frauds: Lag in reporting or weak internal controls?

Bank fraud numbers may not be as bad as they are made out to be, but their detection and reporting need to improve, writes Raghu Mohan