Page 578 - Finance News

No need for blanket extension of EMI moratorium: SBI chief Rajnish Kumar

Says people are very cautious about increasing their liability. Especially in retail, a large number of people are paying up, and SMEs have also started paying

NBFCs, HFCs offload risky realty loans to special situation funds

Experts say though the moratorium on loan repayment is available to developers till August, many are expected to struggle in repaying lenders subsequently

Karnataka Bank reports highest-ever quarterly net profit of Rs 196 cr in Q1

The bank had posted a net profit of Rs 175.42 crore during the corresponding period of the previous financial year, which also was its previous high in quarterly profit, it said in a release.

People's Bank of China sells stake in HDFC in June quarter following furore

It is difficult to ascertain whether the Chinese authority has entirely sold its stake or just trimmed it below 1 per cent

Canara Bank plans to raise up to Rs 8,000 cr in FY21 via equity shares

A number of public and private sector banks have outlined their capital raise plans for the fiscal to meet their growing business and regulatory requirements

Son of ex-bank staffers among three held for running fake SBI branch

The three-month-old branch came under the lens after an SBI customer noticed it in Panruti and informed his branch manager

Union Bank of India reduces MCLR by 20 bps across tenors effective July 11

Post the reduction, MCLR across tenors ranges from 6.85 per cent to 7.40 per cent

YES Bank floor price at Rs 12/share for FPO; minimum bid lot 1,000 shares

Yes Bank's FPO offer will open on July 15, 2020 and close on July 17, 2020

NBFCs, HFCs shed risky real estate loans to remain asset light

Though moratorium on loan repayment is available for developers till August this year, developers could struggle to repay money to lenders, say experts

PNB gets board go-ahead to tap market for raising Rs 10,000 crore

The Government of India currently holds 85.59 per cent stake in the bank.

YES Bank case: ED attaches Rana Kapoor, others' assets worth Rs 2,200 crore

Properties of DHFL promoter brothers Kapil and Dheeraj Wadhawan have also been attached as part of a provisional order issued by it under the Prevention of Money Laundering Act

Mastercard to invest Rs 250 cr over five years to reboot Indian SMEs

Plans roll out initiatives to improve digital payments awareness among small businesses; will provide low-cost acceptance online and offline solutions that are simple, safe and secure

Ensure bankers' safety, take stern action against unruly: FinMin to states

Department of Financial Services asks for action against 'unruly behaviour' after at least two attacks on employees of state-owned banks.

Indian banks pursue bankruptcy order against Vijay Mallya in UK court

Mallya's legal team, led by barrister Philip Marshall, countered that the banks were secured creditors and that the petition should be dismissed.

SBI reduces MCLR by 5-10 bps to 6.65% in the shorter tenors

SBI's MCLR continues to be the lowest in the market

State Bank of India to invest up to Rs 1,760 crore in YES Bank's FPO

YES Bank got its board's approval to raise Rs 15,000 crore via FPO to shore up its capital base.

SBI to invest up to Rs 1,760 cr in YES Bank's further public offering

The announcement came after YES Bank said it has received approval from the CRC of the Board of Directors of the Bank for raising funds

SBI cuts MCLR by 5-10 bps upto three months tenor to revive demand

With this revision, SBI's MCLR upto three-months tenor comes down to 6.65 per cent per annum

YES Bank files prospectus with RoC to raise up to Rs 15,000 cr via FPO

Restates accounts for last three years, but no impact on bottom line

ICICI Bank to give 80k employees up to 8% pay hike for work amid Covid-19

The hike of up to 8 per cent is for the fiscal year 2020-21 and applicable from July onwards