Page 567 - Finance News
SBI's Kumar, HDFC's Puri speak on their careers, legacies, motivations
The two titans of Indian banking also spoke about what it takes to succeed in the highly competitive and byzantine financial services sector
 "SBI's Kumar, HDFC's Puri speak on their careers, legacies, motivations")
Banks Board Bureau to interview four SBI MDs for Chairman post on Aug 28
The three-year term of current SBI Chairman Rajnish Kumar will come to an end on October 7
 "Banks Board Bureau to interview four SBI MDs for Chairman post on Aug 28")
Unlock BFSI 2.0: SBI chief hopes for lesser corporate debt recast requests
Kumar said banks would look at all requests for restructuring on a case-to-case basis and will act according to whatever is permitted by regulation
 "Unlock BFSI 2.0: SBI chief hopes for lesser corporate debt recast requests")
Indian bankers seek to counter RBI Governor on 'risk aversion' comment
Heads of various banks sought to present a counter narrative on Shaktikanta Das warning lenders about the perils of risk aversion in the pandemic-stricken environment where credit demand is waning
 "Indian bankers seek to counter RBI Governor on 'risk aversion' comment")
'Banks need to look within': Here's the full text of RBI Governor's speech
He was speaking on the theme "It is Time for Banks to Look Deeply Within: Reorienting Banking Post-Covid"
 "'Banks need to look within': Here's the full text of RBI Governor's speech")
India needs more banks for financial inclusion: SBI, HDFC Bank leaders
"Consolidation for the sake of consolidation" is not feasible because demand for financial services exceeds supply in the country, said Aditya Puri
Banks 'prudent, careful' as economic recovery will take long: CEOs
The bankers were responding to RBI governor Shaktikanta Das's statement that banks risked their own growth by being "extremely risk averse"
 "Banks 'prudent, careful' as economic recovery will take long: CEOs")
Banks need to overhaul anti-money laundering mechanism: Deloitte Report
The survey will be released on August 26
 "Banks need to overhaul anti-money laundering mechanism: Deloitte Report")
RBI's order could spell trouble for ARC-owning PE funds, say experts
The RBI had recently rejected a resolution plan - approved by the National Company Law Tribunal in June - that proposed selling Aircel's assets to UV Asset Reconstruction Company (UVARC)
 "RBI's order could spell trouble for ARC-owning PE funds, say experts")
Bad bank not only necessary but unavoidable in present situation: Subbarao
D Subbarao made a strong case for setting up a bad bank saying it is not just necessary but unavoidable in the present circumstances when NPAs are likely to balloon
 "Bad bank not only necessary but unavoidable in present situation: Subbarao")
Bank of India to seek shareholders' nod for raising up to Rs 16,000 cr
State-run Bank of India (BOI) on Wednesday said it plans to raise up to Rs 16,000 crore through issuance of shares and bonds.
 "Bank of India to seek shareholders' nod for raising up to Rs 16,000 cr")
Don't hide behind RBI, clarify your stand on loan moratorium: SC to govt
A Bench headed by Justice Ashok Bhushan said the government had failed to clear its position on the issue despite the fact that ample powers were available with it under the Disaster Management Act
 "Don't hide behind RBI, clarify your stand on loan moratorium: SC to govt")
RBI surplus transfer to govt lowest in last 7 years, says S C Garg
Earlier this month, the RBI board approved a surplus transfer of Rs 57,128 crore to the central government for Accounting Year 2019-20 (July-June)
 "RBI surplus transfer to govt lowest in last 7 years, says S C Garg")
BoI plans to raise up to Rs 8,000 cr in tier-I and tier-II capital
Lender to also set off accumulated losses worth Rs 23,782 cr
 "BoI plans to raise up to Rs 8,000 cr in tier-I and tier-II capital")
RBI restructuring package to help both borrowers, bankers: Experts
Besides the package, RBI has also permitted banks to provide additional finance to the borrowers, says Indian Overseas Bank MD & CEO
 "RBI restructuring package to help both borrowers, bankers: Experts")
ICICI Bank will offload 2% in ICICI Securities to attain 25% public holding
Some 6.44 million shares will be sold in the open market, the lender says
 "ICICI Bank will offload 2% in ICICI Securities to attain 25% public holding")
SC asks Centre to clarify stand on interest waiver during moratorium
SC took note of Centre's alleged inaction and asked it to clarify its stand within a week on waiver of interest on interest for deferred payments of instalments for loans during the moratorium period
 "SC asks Centre to clarify stand on interest waiver during moratorium")
Nirav Modi case: PNB receives Rs 24 cr as first tranche of recovery from US
The central government said that PNB has informed the Ministry of Corporate Affairs that it has received 3.25 mn as the first tranche of recoveries in fugitive Nirav Modi case from the USA
 "Nirav Modi case: PNB receives Rs 24 cr as first tranche of recovery from US")
No funds available: Depositors at PMC Bank survive on loans, charity
The Reserve Bank of India took control of PMC last September after it was accused of fraud and concealing non-performing loans
 "No funds available: Depositors at PMC Bank survive on loans, charity")
RBI steps into bond market with Operation Twist to cool down yields
Under the mechanism, the apex bank buys long-term bonds and sells short-term bonds. This cools down long-term yields, raises short-term yields, but keeps liquidity neutral
 "RBI steps into bond market with Operation Twist to cool down yields")