Page 566 - Finance News
FM to meet heads of banks, NBFCs to review loan recast scheme on Thursday
The Reserve Bank of India (RBI) last month permitted one-time restructuring of both corporate and retail loans without getting classified as a non-performing asset (NPA)
 "FM to meet heads of banks, NBFCs to review loan recast scheme on Thursday")
Microfinance body issues advisory for member firms as moratorium ends
Reserve Bank of India (RBI), in March, had announced a moratorium on repayment of term loans in order to provide relief to borrowers impacted by the Covid-19 related disruptions
 "Microfinance body issues advisory for member firms as moratorium ends")
Loan recast: Bank of Maharashtra to put 'conflict of interest safeguards'
Lender would be "purely" looking at cash flow as a key parameter for approving proposals; borrowers must prove Covid-19 pandemic has impacted them
 "Loan recast: Bank of Maharashtra to put 'conflict of interest safeguards'")
Supreme Court to decide on moratorium interest waiver issue today
The apex court said it would hear the matter again and decide on Wednesday a bunch of petitions demanding waiver of interest, or waiver of interest on interest on the suspended monthly instalments
 "Supreme Court to decide on moratorium interest waiver issue today")
Covid-19 clouds IBC resolution, applicants seek payment schedule relaxation
In June, Deccan Value Investors (DVI), which won Amtek Auto, filed an application with the Supreme Court asking for an extension of time to discuss terms with the committee of creditors
 "Covid-19 clouds IBC resolution, applicants seek payment schedule relaxation")
Indian Bank cuts 1-year MCLR by 5 bps to 7.3%; effective from September 3
Most of the consumer loans such as personal, auto and home were priced on the basis of the one-year MCLR prior to the introduction of repo-linked lending rate
 "Indian Bank cuts 1-year MCLR by 5 bps to 7.3%; effective from September 3")
PNB hikes repo-linked lending rate by 15 bps to 6.8%, effective from Sept 1
The country's second largest lender Punjab National Bank (PNB) on Monday hiked its repo-linked lending rate (RLLR) by 15 basis points (bps) to 6.80 per cent.
 "PNB hikes repo-linked lending rate by 15 bps to 6.8%, effective from Sept 1")
Retail credit up by Rs 40,853 cr in July over June, MSME loans up slightly
RBI said on YoY basis, non-food bank credit grew 6.7 per cent in July 2020, the same as June 2020, but lower than the growth of 11.4 per cent in July 2019
 "Retail credit up by Rs 40,853 cr in July over June, MSME loans up slightly")
MFIs' collections rebound in a big way, but delinquencies may surge
Industry-wide data on MFIs is hard to come by due to the lockdown, but an uptick in stress was evident even before the pandemic
 "MFIs' collections rebound in a big way, but delinquencies may surge")
We want to be a key player in distressed assets: Deutsche Bank's Shaparia
KAUSHIK SHAPARIA, chief country officer of Deutsche Bank in India, spoke to Raghu Mohan about the bank's local ambitions
 "We want to be a key player in distressed assets: Deutsche Bank's Shaparia")
Unlock BFSI 2.0: Early to predict the economic recovery curve: Bank CEOs
Top bank executives attempted to shed the tag of being risk-averse and averred that viable businesses would get the red carpet from lenders
 "Unlock BFSI 2.0: Early to predict the economic recovery curve: Bank CEOs")
Unlock BFSI 2.0: Not risk-averse, only careful and prudent, say bank CEOs
Most bankers who participated in the Business Standard Unlock BFSI 2.0 webinar event held on Thursday felt that they expect better indicators of the economy in the third quarter of the financial year
 "Unlock BFSI 2.0: Not risk-averse, only careful and prudent, say bank CEOs")
Sundaram Finance lowers interest rates on deposits across tenures
The company has around 600 branches spread across the country
 "Sundaram Finance lowers interest rates on deposits across tenures")
RBI's core income growth takes a hit as global interest rates decline
The central bank's core earnings or interest income from its rupee and forex assets were up just 2.3% year-on-year in FY20 despite 30% rise in its assets during the year
 "RBI's core income growth takes a hit as global interest rates decline")
Banks Board Bureau recommends Dinesh Khara for SBI chairman post
Govt will take final call on appointment of SBI chairman. If selected, Khara would succeed Rajnish Kumar, whose term ends in October
 "Banks Board Bureau recommends Dinesh Khara for SBI chairman post")
RBI may not extend moratorium on repayment of loans beyond Aug 31: Report
The six-month moratorium period comes to an end on August 31
 "RBI may not extend moratorium on repayment of loans beyond Aug 31: Report")
Banks Board Bureau recommends Dinesh Khara as new SBI chief
C S Setty, another MD at the state-owned lender, has been recommended as the reserve candidate
 "Banks Board Bureau recommends Dinesh Khara as new SBI chief")
World Bank holds Ease Doing Business report over data irregularities
In a statement, World Bank said over the 17 years of its existence, the Doing Business report has been a valued tool for countries seeking to measure costs of doing business
 "World Bank holds Ease Doing Business report over data irregularities")
Crisil, India Rating upgrade YES Bank's bonds on improved liquidity
Ind-Ra said the multi-notch upgrade and the resolution of rating watch evolving reflect a significant improvement in Yes Bank's profile and operating metrics post its reconstruction in March
 "Crisil, India Rating upgrade YES Bank's bonds on improved liquidity")
CRISIL upgrades YES Bank's certificates of deposit from 'A2' to 'A2+'
YES Bank's total deposits increased to Rs 1.17 trillion (including CD) as on June 30 from Rs 1.05 trillion as on March 31
 "CRISIL upgrades YES Bank's certificates of deposit from 'A2' to 'A2+'")