Page 572 - Finance News

Banks to be cautious in lending despite gold loan LTV relaxation: Report

Last week, the Reserve Bank of India had increased the permissible LTV ratio for loans against pledge of gold ornaments and jewellery for non-agricultural purposes from 75 per cent to 90 per cent

RBI asks UCBs to implement system-based asset classification from June 2021

The UCBs having total assets of over Rs 2,000 crore as on March 31, 2020, will be required to implement the system-based asset classification from June 30, 2021, an RBI circular said

Over 1,700 big wilful defaulters together owe Rs 37,020 crore to PNB

Leading the chart is Mehul Choksi-promoted Gitanjali Gems Ltd with an outstanding loan of Rs 5,064.84 crore

Debt recast may reduce transparency, hinder capital raising: Fitch

Private investors may be reluctant to participate in sale of stakes in state-owned lenders until impact of pandemic on their balance sheets is clear, agency says

Restructuring likely to be at 5-8% of banks loan book under new norms: ICRA

Last week, the RBI allowed banks to go for a one-time restructuring of corporate and personal loans that are under stress due the Covid-19 pandemic

RBI's curb on current account use may hit private banks in the short term

Move can also bring a huge change in the way business is done in India, where firms use multiple current accounts, often for even individual projects, making them difficult to monitor

PNB calls for change in loan recast scheme, cites 'tough times'

Call for closer look at borrowers who delay repayment up to eleventh hour just to avoid NPA tag

In compliance with promoter stake reduction requirement: Kotak Bank

The bank was required to bring down the promoter's shareholding to 26 per cent

BOB posts pre-tax loss of Rs 1,308 cr in Q1 on a rise in provisioning

The bank's net interest income (NII) grew 4.91 per cent on a year on year (YoY) basis from Rs 6,497 crore in Q1FY20 to Rs 6,816 crore in Q1FY21

Covid-19: Truth is the first casualty of India's pandemic finance

Shadow banks will be the biggest losers. They will restructure their borrowers' loans but their own liabilities to banks won't get the same treatment

Debt recast to give relief to Rs 3 trn retail, small corp debt: Crisil

Agency says RBI move on restructuring will help soften Covid-19 impact on banks' asset quality. Without this, gross NPAs could have touched a two-decade high of 11.5% by March 2021

Madhavan Aravamuthan appointed new chairman of Fairfax-backed CSB Bank

His skill set includes a deep knowledge of IT systems, payment and settlement systems, offsite surveillance of banks, etc

Rs 10,000 crore Fund of Funds scheme to help MSMEs with growth: SBI chief

The objective of the Rs 10,000 crore Fund of Funds scheme is to help MSMEs with growth potential at a time when they are facing severe shortage of equity and low revenues

Reserve Bank's silence on record India bond sales leaves traders baffled

The yield on the India's benchmark 10-year bond has stayed around 5.80 per cent since mid-May after falling by more than 70 basis points this year

Banks may not have to pay service tax for facilitating international trade

To facilitate trade, Indian banks provide services to exporters by sending the export documents to the bank of the importer abroad and collect payment

One-time loan recast: Tricky road lies ahead for Kamath panel, say experts

Govt appoints four more members; norms in 30 days after recommendations

Priority lending tag to provide new credit lifeline for young startups

Say banks will have to understand ecosystem's high-growth business model

Bank of Maharashtra slashes MCLR by up to 20 bps for select tenors

Besides MCLR, the bank has also cut its interest rate on gold loans offered to farmers and retail customers

UBS Principal Capital Asia sells shares worth Rs 150 cr in Axis Bank

A total of 3.5 million scrips of the private sector lender were sold at an average price of Rs 428.7 apiece, valuing the deal at Rs 150 crore, according to block deal data on the BSE

UCO Bank reduces MCLR by 10 bps across tenors, effective August 10

The revised one-year MCLR stands at 7.40 per cent as against 7.50 per cent earlier, the bank said