Page 566 - Finance News

CSB Bank reports profit before tax of Rs 30 crore in June quarter

The bank said it has made healthy Covid provisions

Covid-19 deaths: Bank unions seek compensation for contractual staff

Those on contract are not being covered either by any medical insurance or reimbursement scheme for their treatment when they get infected nor by any financial compensation

Microfinance sector may see consolidation post Covid-19, say experts

Microfinance industry will remain only for people who are following regulatory norms very seriously and have a roadmap ahead of them, says one expert

Unlock BFSI 2.0: Economy reviving, no need to extend moratorium, say SFBs

Heads of top small finance banks stress on the need to be more flexible in the current scenario and back 'emotional banking'

Implement reforms in key areas to reverse slowdown: World Bank to India

The fiscal deficit of the Central government is likely to increase to 6.6 per cent of GDP in FY20/21 and is expected to remain elevated at 5.5 per cent in the following year, says the report

Crisil downgrades Indian Bank's tier I bonds on lower reserves position

Crisil evaluated the adequacy of Indian Bank's eligible reserves to service coupon after adjusting for any medium-term impact of profitability on reserves position in a stress scenario

People's Bank of China picks up stake in ICICI Bank via QIP issue

The People's Bank of China was among 357 institutional investors which incl­uded domestic mutual funds, insurance firms and global institutions that subscribed to the issue, sources said

Need to divest governance of PSBs from govt: Former RBI deputy governor

Privatisation is a bigger political decision and not an economic one alone, Vishwanathan said, adding that a bank holding company needs to be created first

RBI releases framework for retail payments; invites applications from firms

RBI said the application for setting up the umbrella entity should contain a detailed business plan

Govt keen to speed up stake sale in four PSU banks this fiscal: Report

Govt wants to overhaul the banking sector and is also pushing for privatisation of banks and other PSUs to help raise funds for budgeted spending amid a fall in tax collections

YES Bank committed to culture of accountability; working on risk: New CEO

YES Bank has overhauled its risk and governance frameworks to save itself from reputational risks and come out as a brand committed to integrity, its CEO & MD Prashant Kumar has said

ICICI sees risk of losing RCom case of Rs 210 cr in preferential payment

Indian lender says resolution professional for bankrupt telecom company has made claims which have a 'likelihood' of succeeding.

RBI lifts curbs on Bandhan Bank CEO's pay package after promoter cuts stake

According to RBI's licensing norms, any bank offering 'universal' services needs to bring down the promoter's stake to 40 per cent in three years from the date of commencement of operations

High Court stays BoB, PNB move to classify RCFL, RHFL as fraud accounts

The Delhi High Court in a separate petition also directed Punjab National Bank to maintain the status quo in relation to classifying RCFL's account as a fraud

India's bond market is so hot even Yoga guru Ramdev is selling debt

Borrowing costs on bonds have plunged after policy makers unveiled record stimulus to help combat the financial fallout of the pandemic

How long will it take for RBI's loan-recast plan to see the light of day?

It will take some effort to ensure that the RBI's one-time loan recast scheme works satisfactorily, reports Raghu Mohan

The entrepreneur is anchor-pin of our biz: Avendus Capital's Ranu Vohra

Ranu Vohra talks about how he wants to make the firm more relevant across business lines taking advantage of disruptions in the market

Ujjivan Small Finance Bank expects decline in interest, fee incomes in FY21

The surplus liquidity carried as a buffer for the crisis period has led to a slight increase in finance cost for the last week of March

Federal Bank to enter credit card segment in a year, says official

The bank will rely only on in-house customers and also deploy its analytics engine to choose customers in a bid to take care of concerns on book quality

Govt may not need to infuse fresh capital in PSU banks this fiscal: Report

The poor credit offtake on account of coronavirus pandemic may obliterate the need for significant growth capital during the current fiscal