Page 564 - Finance News

RBI balance sheet expands 30% to Rs 533 trn on growth in forex reserves

Central bank's balance sheet saw a larger-than-normal size due to policy actions and liquidity infusion measures adopted to mitigate shock of Covid-19 outbreak

Banks sanction loans of Rs 1.56 trn to MSMEs under credit guarantee scheme

The loan amounts sanctioned by PSBs increased to Rs 76,765 crore, of which Rs 58,230 crore has been disbursed as of August 24, Sitharaman said

Covid-19 impact: Moody's lowers SBI's baseline credit assessment to 'ba2'

The rating agency, however, affirmed SBI's Baa3 deposit ratings

ICICI Bank deploys satellite data for agricultural credit assessment

For the first time in domestic banking, ICICI Bank is deploying satellite data to power farm credit assessment, which it claims will reduce cost for both farmers as well as the lender

Most banks see meaningful credit growth recovery only after 18 months

Most banks believe that meaningful credit growth recovery is likely only after 18 months, while near-term uncertainty on asset quality remains, brokerages tracking the development said

Interest rates transmission improved during 2019-20, says RBI report

Adjustments in banks' deposit and lending rates in response to changes in the repo rate improved during 2019-20, especially in the second half of the year, the RBI said

Banking system has to be liberated from risk aversion mode, says RBI

As the pandemic has brought about dire need for liquidity, the RBI has said that the banking sector needs to get out of the risk aversion mode and give credit to the productive sector of the economy

RBI calls for deep-seated, wide-ranging reforms for sustainable growth

Post-COVID-19, the overwhelming sense is that the world will not be the same again and a new normal could emerge, the Reserve Bank of India (RBI) said

Reserve Bank announces OMOs worth Rs 20,000 crore to maintain liquidity

The two tranches will be worth Rs 10,000 crore each on multi-security auction using multiple price method, the central bank said in a statement

Pvt banks charging fee on more than 20 P2P UPI transfers in a month: Report

Defending the move, bankers said that the charges have been introduced in a bid to prevent frivolous transactions from putting a load on the system

Governance more important than ownership of banks, says SBI chairman

A government move to reduce its stake in some public sector banks will not do any harm, he says.

Covid-19 impact: Union Bank estimates 6-7% of loans may be restructured

These loans include corporate accounts, where Rs 6.3 trillion of credit may be recast, and non-corporate accounts (Rs 2.1 trillion), such as retail, agriculture and MSME

At least 5% of PNB's Rs 7.21 trillion loan book may be restructured

Majority of restructured loan accounts would belong to corporate segment, bank does not see large number of MSMEs going for loan revamp

HDFC Bank bad loan ratio may widen to decade high, says CEO-designate

The bad-loan ratio might widen to 1.4% to 2%, which will be close to the highest level since the global financial crisis, Sashidhar Jagdishan said in a conference call with analysts on Friday

PNB expects 4-6% credit growth this fiscal, says Mallikarjuna Rao

Punjab National Bank on Monday said its overall credit growth is likely to be at around 4-6 per cent in the current fiscal year as it expects the economy to return to normalcy from October onwards.

RBI sends signal to traders that bond yields may head higher in debt sale

The Reserve Bank of India sold a 30-year bond on Friday at a cutoff yield of 6.7596 per cent, versus the 6.65 per cent estimated in a Bloomberg survey

How the shadow of slavery still hangs over global finance opportunities

The slave trade pioneered a new kind of finance, secured on the bodies of the powerless

India's banking sector needs to grow for becoming $5 trillion economy: CEA

CEA K V Subramanian said that India's banking system is proportionately smaller than the size of the economy and it needs to grow for the country to become a $5 trillion economy

SBI, PNB, BoB may go for share sale in FY21 to shore up capital: Report

According to the sources, banks would get a better picture about their Non-Performing Assets (NPAs), one-time loan restructuring and consequent ratings latest by the end of October

After micro loans, housing finance to be next key focus for Bandhan: MD

Bandhan Bank now wants to focus on the home loan segment, a top executive has said.