Page 576 - Finance News
Punjab National Bank raises Rs 994 cr by issuing Basel III compliant bonds
The issue opened on July 27 and closed on July 29, PNB said
 "Punjab National Bank raises Rs 994 cr by issuing Basel III compliant bonds")
Banks need to expand balance sheets, revive credit offtake: Report
The RBI's conscious steps to reduce the repo rate have also lowered the marginal cost of fund-based lending rate across banks, ratings agency India Ratings and Research said
 "Banks need to expand balance sheets, revive credit offtake: Report")
Bank of India directors to consider raising funds on August 3, shares surge
Shares of the bank surged after the announcement. At 12.05 p.m., its shares on the BSE were trading at Rs 47.20, higher by 3.17 per cent from the previous close
 "Bank of India directors to consider raising funds on August 3, shares surge")
Loans under moratorium to dip below 10% by August end, says IDFC First
Private lender posted profit before tax of Rs 127.54 crore in the quarter ended June 2020 (Q1Fy21)
 "Loans under moratorium to dip below 10% by August end, says IDFC First")
PM Modi to hold review meeting with banks, his first since Covid outbreak
Agenda not known yet, but meeting via video conferencing likely to be on credit flow especially to MSMEs
 "PM Modi to hold review meeting with banks, his first since Covid outbreak")
IndusInd Bank Q1 net profit falls 68% to Rs 461 cr on higher provisioning
The net NPAs, however, showed improvement as it fell to 0.86 per cent of the net advances by the end of first quarter FY21
 "IndusInd Bank Q1 net profit falls 68% to Rs 461 cr on higher provisioning")
IDBI Bank posts Q1 PBT of Rs 438 cr against Rs 5,381 cr loss a year ago
Rise in net interest income, dip in provisioning drive better numbers; net profit at Rs 144 cr in Q1FY21, versus Rs 3,800 cr loss same quarter last year
 "IDBI Bank posts Q1 PBT of Rs 438 cr against Rs 5,381 cr loss a year ago")
Yes Bank net profit declines 60% to Rs 45 cr in April-June quarter
The private sector lender had posted a net profit of Rs 113.76 crore in the same quarter previous fiscal
 "Yes Bank net profit declines 60% to Rs 45 cr in April-June quarter")
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 Card, IRCTC launch co-branded contactless credit card on RuPay platform")
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
 "SBI providing $16 mn liquidity support for local businesses in Maldives")
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
 "RBI likely to slash policy rates by 100 bps in FY21: BofA Securities")
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
 "84,545 bank fraud cases, involving about Rs 1.85 trn reported in FY20: RTI")
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
 "YES Bank FPO: Several brokers under Sebi scanner over share freeze")
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
 "Not just banks, find other ways to finance infra, RBI guv tells India Inc")
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
 "Aditya Puri sells 7.42 million shares in HDFC Bank for Rs 843 cr")
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
 "The Indian banking system is safe, but NPAs may shoot up, says RBI")
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
 "Aditya Puri sells 7.42 million shares worth Rs 842.9 crore in HDFC Bank")
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
 "Banks, businesses debate decriminalising dishonouring of cheques")
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
 "PSBs shouldn't be privatised, reduce govt stake to 26%: RBI Board member")
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