Page 565 - Finance News

Banks may restructure loans worth more than Rs 10 trn to 5-6 key sectors

Finance Minister Nirmala Sitharaman last week asked banks and NBFCs to roll out one-time loan restructuring scheme for Covid-19 related stress by September 15

Kamath panel to submit recommendations on debt restructuring today

The panel was formed to advise the RBI on the debt restructuring of corporate borrowers facing stress due to the pandemic.

Start-up loans of up to Rs 50 cr under priority sector as RBI revises norms

Advances to weaker section now 12% of credit for scheduled banks and SFBs, rule doesn't apply to foreign lenders with under 20 branches. RRBs already have to lend 15% to weaker sector

Operational strength, subsidiaries to drive State Bank of India's re-rating

Annual operating profit of Rs 60,000 crore good enough to absorb any increase in provisioning, while high growth potential subsidiaries to drive valuations

S Krishnan takes charge as MD & CEO of state-owned Punjab & Sind Bank

State-owned Punjab & Sind Bank on Friday said the government has appointed S Krishnan as the managing director and chief executive officer of the lender.

IDFC First Bank's non-exec chairman Rajiv Lall quits on health grounds

According to the bank's thought-out succession plan for this position in the past, subject to the RBI approval, there will be a smooth transition, the lender said quoting Lall

Fintech the way forward for Indian banking, payment system: SBI MD

Giving the example of SBI, he said, 91 per cent of jobs are being done digitally now, which was unthinkable 35 years ago

Banks turn to digital tools to rework debt payment structures during Covid

According to India Ratings estimates, retail loans - home, personal, auto, and credit cards - amounting to Rs 30,000 crore may come up for recast

FM tells banks to frame loan recast scheme for all viable units by Sept 15

Lenders told to put in place FAQs on recast on their websites in multiple languages

Moratorium case: SC directive to benefit small, mid-sized accounts

Bankers said special mention accounts (SMA)- overdue period between 31 to 60 days (SMA1) and overdue period between 61 to 90 days (SMA2) would have become NPAs in August and September 2020

Aditya Birla Idea Payments Bank ceased to be banking company: RBI

In November last year, the RBI had said that Aditya Birla Idea Payments Bank was headed for liquidation after the company's application for voluntary winding up

Private banks likely to gain market share from state-owners peers: Fitch

Fitch Ratings said private sector banks, with stronger loss-absorption buffers, are likely to gain market share from their state-owned peers in the medium term

Finance Minister asks banks to roll out loan restructuring scheme by Sep 15

Nirmala Sitharaman asked banks, NBFCs to roll out loan restructuring scheme for Covid-related stress by September 15, and provide adequate support to the borrowers following the lifting of moratorium

SC protects loans not declared NPAs till Aug 31 from such action for now

The Supreme Court Bench said if a loan account had not been declared bad as of the end of August, it should not be classified as NPA till the moratorium case was disposed of

Indian private banks to gain market share from PSBs: Fitch Ratings

Indian private banks have had a decade of strong growth, reflected in much higher loan CAGR of 19.6%

Murali Ramakrishnan appointed as MD and CEO of South Indian Bank

The bank got the Reserve Bank of India's approval for the appointment for a period of three years with effect from October 1, 2020

Asking banks to waive interest will adversely impact financial system: Govt

Solicitor General Tushar Mehta told the three-judge Bench that waiving interest or granting a blanket moratorium on repayment of loans will be a "knee jerk reaction"

DHFL auditors discover fraudulent transactions worth Rs 14,046 cr

The administrator of DHFL - R Subramaniakumar - has moved an application in the National Company Law Tribunal (NCLT) based on the findings of the of transaction auditor

Credit-to-deposit ratio fell to 73.1% in Q1, from 76% in Q4FY20

While for private banks, credit growth moderated to 7.2 per cent in Q1FY21, from 9.3 per cent in Q4FY20, public sector banks (PSBs) and regional rural banks saw a rise

SBI moots VRS for employees who don't get promoted; will seek govt nod

Officers protest, say they were kept in dark; lenders say VRS is optional and that it won't push employees to take it