Page 580 - Finance News
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
 "SBI board to meet on Wednesday for tier-I and II capital raising plans")
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")
RBI reserves to recap banks amid economic slowdown? Experts divided
Reserve Bank of India (RBI) Governor Shaktikanta Das last week said banks should not wait for any event to happen, but actively raise capital to ensure financial resilience.
 "RBI reserves to recap banks amid economic slowdown? Experts divided")
India saw nearly Rs 25,000-cr wilful defaulter cases even before lockdown
Nationwide lockdown to contain the pandemic may force more business to default on loans, say analysts
 "India saw nearly Rs 25,000-cr wilful defaulter cases even before lockdown")
Covid-19 provisions may consume maximum 1% capital, says YES Bank CEO
The private lender is in the capital market to raise equity worth Rs 15,000 cr via an FPO in the Rs 12-13 price band
Retail payments report recovery in May, jump 23% to Rs 24.22 trillion
Total payments that include digital payments and payments made via paper-based instruments rose 12.5 per cent to Rs 94.64 trillion in May, against Rs 84.10 trillion in April.
 "Retail payments report recovery in May, jump 23% to Rs 24.22 trillion")
HDFC Bank probes lending practices at vehicle-financing operation
The bank decided against proceeding with an earlier proposal to extend the employment of Ashok Khanna, an 18-year veteran at the bank, after the investigation was completed
 "HDFC Bank probes lending practices at vehicle-financing operation")
Banks to resume wage revision talks with trade union leaders on July 22
Discussions will factor in the impact of the pandemic on banks' finances
 "Banks to resume wage revision talks with trade union leaders on July 22")
YES Bank FPO: Don't judge it on the basis of price discount alone
NPA-adjusted valuations are not attractive; asset quality is a concern
City Union Bank board approves raising Rs 1,100 cr through equity, debt
The lender will seek shareholders' approval for the fundraise plan at its upcoming AGM next month
 "City Union Bank board approves raising Rs 1,100 cr through equity, debt")
HDFC plans to seek shareholders' approval to raise Rs 45,000 crore
The board of directors of HDFC Ltd will meet on July 30 to announce the quarterly results for the first quarter ended June of the current fiscal, it said in a regulatory filing.
 "HDFC plans to seek shareholders' approval to raise Rs 45,000 crore")
PNB to focus on self-service, automation to deal with Covid-19 setbacks
MD Rao said 2019-20 started with an overarching goal towards 'Year of Profitability and Creating Value', leaving the adversities of the previous financial year behind
 "PNB to focus on self-service, automation to deal with Covid-19 setbacks")
Small NBFCs may face funding challenges again as banks get choosy: CARE
Outstanding bank lending to NBFCs declined marginally to Rs 8.04 trn in May 2020 from Rs 8.12 trn in April 2020, according to RBI data
 "Small NBFCs may face funding challenges again as banks get choosy: CARE")
The perils of name lending: Banks count cost of loans in NMC collapse
Borrowing on the basis of reputation, known as "name lending", and taking on a large exposure to one person or entity is not unusual in the Gulf region
 "The perils of name lending: Banks count cost of loans in NMC collapse")