Page 576 - Finance News
M&A up 14.55 % in H120 led; Jio Platforms investments up deal value
As many as 183 deals generated $43.54 billion in 1H20, says report by financial data company.
 "M&A up 14.55 % in H120 led; Jio Platforms investments up deal value")
Adopt fair practices to prevent illicit debt recovery methods: RBI to ARCs
RBI asked ARCs to adopt a board-approved 'Fair Practices Code', which, among other things, should prohibit the use of uncivilised, unlawful and questionable behaviour for recovery of loans
 "Adopt fair practices to prevent illicit debt recovery methods: RBI to ARCs")
Bandhan Bank's pre-tax profit drops 40% in Q1 on higher provisioning
Pre-tax profit of the bank in Q1FY21 stood at Rs 735 crore
 "Bandhan Bank's pre-tax profit drops 40% in Q1 on higher provisioning")
Private banks stare at washed-out Q1; moratorium, Covid-19 provisions eyed
Extension of moratorium, ICICI Securities points out, till August would push recognition of pain points, thereby leading to benign slippages and stable headline non-performing asset (NPA) numbers
 "Private banks stare at washed-out Q1; moratorium, Covid-19 provisions eyed")
Federal Bank's Q1 PBT declines 8.9% to Rs 537.76 cr on rise in provisions
Its net profit for the quarter under review rose to Rs 400.77 crore compared to a net profit of Rs 384.21 crore in Q1FY20
 "Federal Bank's Q1 PBT declines 8.9% to Rs 537.76 cr on rise in provisions")
Yes Bank FPO: Anchor demand indicates Rs 15,000 crore a tall ask for lender
LIC, SBI asked to chip in to meet demand shortfall, says sources
 "Yes Bank FPO: Anchor demand indicates Rs 15,000 crore a tall ask for lender")
Point-of-sale terminals yet to fire despite repeated nudges by RBI
It's important to note that unlike ATMs, the scheme is not advertised or visible to the general public
 "Point-of-sale terminals yet to fire despite repeated nudges by RBI")
Banks stockpile billions as they prepare for things to get worse
Collectively, JPMorgan Chase, Citigroup and Wells Fargo have put aside $25 billion during the second quarter, they said. As a result, their quarterly profits plunged.
 "Banks stockpile billions as they prepare for things to get worse")
IDBI Bank seeks shareholders' nod for raising Rs 11,000 cr in share capital
Proceeds will be used to strengthen the lender's Capital Adequacy Ratio; bank to hold AGM on August 17 exclusively via video conferencing, other audio-visual means
 "IDBI Bank seeks shareholders' nod for raising Rs 11,000 cr in share capital")
SBI to raise Rs 25,000 crore in AT1, tier II capital in current fiscal
The capital is expected to strengthen the bank's capacity to growth business and create buffers to withstand shocks
 "SBI to raise Rs 25,000 crore in AT1, tier II capital in current fiscal")
State-run banks will need Rs 35,000-40,000 crore of additional capital: S&P
Government-owned banks in India, in aggregate, will be able to absorb the estimated credit losses without breaching the regulatory minimum, but these banks need capital to grow
 "State-run banks will need Rs 35,000-40,000 crore of additional capital: S&P")
Banks approve bonds, CPs worth over Rs 14,000 crore issued by NBFCs
About 46 per cent of this sum for purchase by public sector banks is for bonds or CPs rated below 'AA'
Share of industrial credit in total bank credit dips to 31.5% in March: RBI
Bank credit growth (year-on-year) continued to decelerate across all population groups and stood at 6.3 per cent in March 2020.
 "Share of industrial credit in total bank credit dips to 31.5% in March: RBI")
IDBI Bank hopes to come out of RBI PCA framework this fiscal: MD Sharma
The Reserve Bank in May 2017 had placed the IDBI Bank in the PCA framework because of the deterioration in the financial health of the bank
 "IDBI Bank hopes to come out of RBI PCA framework this fiscal: MD Sharma")
Bandhan Bank reports 31.6% decline in net profit to Rs 550 cr in Apr-June
A Bandhan Bank statement said it has taken accelerated additional provision on standard assets amounting to Rs 750 crore, due to the Covid-19 pandemic
 "Bandhan Bank reports 31.6% decline in net profit to Rs 550 cr in Apr-June")
SBI board to meet on Wednesday for tier-I and II capital raising plans
Plans to double registration for its digital-banking app Yono within next six months, from current base of 24 million
Two co-op banks move HC against Centre's ordinance bringing them under RBI
The first bench, comprising Chief Justice A P Sahi and Justice Senthilkumar Ramamoorthy, which admitted the pleas, posted the matter to July 20.
 "Two co-op banks move HC against Centre's ordinance bringing them under RBI")
Yes Bank allots 3.41 bn shares to anchor investors, raises Rs 4,100 cr
The price band for the FPO is Rs 12 to Rs 13 per share; shares allotted to anchor investors are at the lower end of the price band
 "Yes Bank allots 3.41 bn shares to anchor investors, raises Rs 4,100 cr")
SBI to institute work-from-anywhere infra, hopes to save Rs 1,000 cr
SBI chief said the focus will be on cost reduction, rationalization and reskilling of workforce, improving staff productivity and redeployment of workforce from admin offices to sales roles
Liquidity measures help reduce financing cost in corporate bond mkt: RBI
Yields have dropped and the spreads have compressed despite foreign portfolio investment outflows of around $3 billion from corporate bonds in 2020, says article
 "Liquidity measures help reduce financing cost in corporate bond mkt: RBI")