Page 581 - Finance News
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")
Banks must raise capital well in time to build resilience: RBI Governor
Building buffers and raising capital (for all kind of banks) will be very crucial for credit flow and resilience in financial system, says Shaktikanta Das
 "Banks must raise capital well in time to build resilience: RBI Governor")
Coronavirus will result in high NPAs and capital erosion: RBI Governor
There is need for a structured mechanism with legal backing to deal with stressed assets, says the governor
 "Coronavirus will result in high NPAs and capital erosion: RBI Governor")
PSBs to do Covid heavy lifting, will soon need capital support: Experts
Fitch Ratings estimates that under a moderate stress scenario, Indian banks are around $15 billion short of the capital required to meet a 10 per cent weighted-average common equity tier 1 ratio.
 "PSBs to do Covid heavy lifting, will soon need capital support: Experts")
YES Bank sets floor price of Rs 12 per equity share for FPO issue
Lender will end up issuing 11.54-12.5 billion fresh equity shares; FPO will lead to 50% per dilution in current equity base of 12.55 billion shares
 "YES Bank sets floor price of Rs 12 per equity share for FPO issue")
Union Bank of India, UCO Bank reduce MCLR by 20 bps and 10 bps
UCO Bank's revised one-year MCLR will be 7.50 per cent, down from the current 7.60 per cent.
 "Union Bank of India, UCO Bank reduce MCLR by 20 bps and 10 bps")
Operating buffers of top five banks to fall 15%, says India Ratings
Of the top five private banks, Ind-Ra rates HDFC Bank, Axis Bank, Kotak Mahindra Bank and IndusInd Bank.
 "Operating buffers of top five banks to fall 15%, says India Ratings")
PMC bank scam: Wadhawans bail rejected, offence grave says court
The Wadhawan duo are accused in the multi-crore rupee Punjab & Maharashtra Cooperative (PMC) Bank scam case.
 "PMC bank scam: Wadhawans bail rejected, offence grave says court")
Lakshmi Vilas Bank to rope in large marquee investors apart from Clix
Lender's loss before tax narrowed down to Rs 233.14 crore during the quarter ended March 2020 from Rs 499.96 crore, during the same period last year
 "Lakshmi Vilas Bank to rope in large marquee investors apart from Clix")
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
 "No need for blanket extension of EMI moratorium: SBI chief Rajnish Kumar")
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
 "NBFCs, HFCs offload risky realty loans to special situation funds")
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.
 "Karnataka Bank reports highest-ever quarterly net profit of Rs 196 cr in Q1")
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
 "People's Bank of China sells stake in HDFC in June quarter following furore")
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
 "Canara Bank plans to raise up to Rs 8,000 cr in FY21 via equity shares")
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
 "Son of ex-bank staffers among three held for running fake SBI branch")
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
 "Union Bank of India reduces MCLR by 20 bps across tenors effective July 11")
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
 "YES Bank floor price at Rs 12/share for FPO; minimum bid lot 1,000 shares")
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
 "NBFCs, HFCs shed risky real estate loans to remain asset light")
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.
 "PNB gets board go-ahead to tap market for raising Rs 10,000 crore")
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
 "YES Bank case: ED attaches Rana Kapoor, others' assets worth Rs 2,200 crore")