Page 573 - Finance News

SBI Card, IRCTC launch co-branded contactless credit card on RuPay platform

SBI Card and IRCTC launched a co-branded card on RuPay platform for secure and fast transactions

SBI providing $16 mn liquidity support for local businesses in Maldives

The SBI is providing liquidity support of $16.20 million for local businesses and deferred loan repayment for over 200 retail accounts, the Indian High Commission in the Maldives said

RBI likely to slash policy rates by 100 bps in FY21: BofA Securities

That apart, they expect the government's overall fiscal deficit to rise

84,545 bank fraud cases, involving about Rs 1.85 trn reported in FY20: RTI

The RBI stated that the total number of frauds reported by Scheduled commercial banks and select FIs during Financial Year 2019-20 is 84,545 and the amount involved therein is Rs 1,85,772.42 crore

YES Bank FPO: Several brokers under Sebi scanner over share freeze

Over 12.5 billion new shares issued in the FPO commenced trading on Monday

Not just banks, find other ways to finance infra, RBI guv tells India Inc

Lists progress achieved in infra space in past five years, stresses that funding of $4.5 trn by 2030, as estimated by NITI Aayog, cannot be done by banks alone

Aditya Puri sells 7.42 million shares in HDFC Bank for Rs 843 cr

Puri, the longest serving MD of a private bank in India, has been at the helm of HDFC Bank for the last 26 years, since its inception in 1994

The Indian banking system is safe, but NPAs may shoot up, says RBI

The gross NPA ratio may rise from 8.5 per cent in March to 12.5 per cent by March 2021, but could worsen to 14.7 per cent under a very severely stressed scenario. However, no bank will fail

Aditya Puri sells 7.42 million shares worth Rs 842.9 crore in HDFC Bank

Puri's term is set to end in October when he attains the age of 70 and he will be second chief executive after Indusind Bank's Romesh Sobti to retire this year

Banks, businesses debate decriminalising dishonouring of cheques

The government wants to change the law, more so in recent months as part of reforms helping business

PSBs shouldn't be privatised, reduce govt stake to 26%: RBI Board member

RBI Board member Satish Marathe said public sector banks need an overhaul of their systems, processes and staff attitudes to be relevant and effective in the future

Banks need to raise, conserve capital due to Covid: Former RBI deputy guv

NPA levels of banks are sure to go up and the entire risk management mechanism will undergo a paradigm shift, Vishwanathan said

Explained: How OCEN is trying to keep credit disbursement challenges at bay

Network to connect lenders, loan marketplaces, borrowers on a single platform and make access to credit a matter of minutes

Declining long-term market funding for NBFCs a concern, says RBI

It has the potential to heighten the liquidity risks the sector is already facing after the IL&FS debacle, FSR said

Risk aversion rising in banks, may hinder recovery if taken to extreme: FSR

Public sector banks chose to lend only to high-quality borrowers; there was a sharp credit contraction across all rating categories except 'AA and above', FSR points out

Insolvency law caused rift with govt: Former RBI governor Urjit Patel

Instead of future-proofing gains, atmosphere to go easy on the pedal ensued, says his book

Impact of loan moratorium on private NBFCs, HFCs can be substantial: RBI

In March, the RBI had announced a moratorium on repayment of term loans till May 31. It was later extended for another three months.

Banks sanction Rs 1.3 trn loans to MSMEs under credit guarantee scheme

The scheme is the biggest fiscal component of the Rs 20-trillion Aatmanirbhar Bharat Abhiyan package announced by Finance Minister Nirmala Sitharaman in May

Central Bank has exhausted cap on exposure to NBFCs: Pallav Mohapatra

"We have financed the NBFCs and exhausted the exposure cap for the sector," MD & CEO of Central Bank Pallav Mohapatra said

Bank NPAs could hit nearly 15% by March 2021 in worst-case scenario: Report

Indian banks have been battling rising bad loans for years but managed to get gross NPAs down to 8.5% in March, compared to 9.3% in September 2019