Page 581 - Finance News
Axis Bank appoints LIC MD Suseel Kumar on board as non-executive member
Kumar was appointed MD of LIC in March 2019
 "Axis Bank appoints LIC MD Suseel Kumar on board as non-executive member")
White label ATMs: Safe to assume the business is a resounding flop?
The business dynamics are stacked against white label ATMs, which could impact the government's goal of financial inclusion
 "White label ATMs: Safe to assume the business is a resounding flop?")
Yes Bank to auction Essel, SKIL Infra properties in July to recover dues
The sale of immovable assets is under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (Sarfaesi) Act, 2002
 "Yes Bank to auction Essel, SKIL Infra properties in July to recover dues")
Ex-RBI governor Rangarajan gets lifetime achievement award on Stats Day
Besides heading RBI and the Prime Minister's Advisory Council, Rangarajan was chairman of the National Statistical Commission, set up in 2000 to review the statistical system
 "Ex-RBI governor Rangarajan gets lifetime achievement award on Stats Day")
Govt may get RBI to monetise fiscal deficit in second half of FY21
A final decision on the matter will be taken before the borrowing calendar for October 2020-March 2021 is announced in late-September
 "Govt may get RBI to monetise fiscal deficit in second half of FY21")
S&P rating action won't impact Axis Bank, Bajaj Finance much: Experts
Experts say comfortable capital levels, strong market position positive for both
 "S&P rating action won't impact Axis Bank, Bajaj Finance much: Experts")
RBI's one-time restructuring scheme may be limited to Covid-hit sectors
Firms from the aviation, hospitality, and retail sectors are expected to be allowed to avail of the new scheme
 "RBI's one-time restructuring scheme may be limited to Covid-hit sectors")
Statsguru: A look at the performance of UCBs as RBI gets more control
Following the Punjab and Maharashtra Co-operative Bank crisis, there has been a growing call to give more teeth to RBI in regulating such banks
 "Statsguru: A look at the performance of UCBs as RBI gets more control")
SBI sanctions Rs 20,000 cr loans to MSMEs under credit guarantee scheme
SBI's SME loan portfolio shrunk by 7.27 per cent to Rs 2.67 trillion in March 2020 from Rs 2.88 trillion in March 2019
 "SBI sanctions Rs 20,000 cr loans to MSMEs under credit guarantee scheme")
Weak assets of Indian banks may shoot up to 14% by March 2021: S&P
The tough operating conditions could lead to a rise in non-performing loans (NPLs) and credit costs. It may also result in delay in recoveries for the banking system
 "Weak assets of Indian banks may shoot up to 14% by March 2021: S&P")
SBI sanctions loans to over 400,000 MSMEs under credit guarantee scheme
On the occasion of International MSME Day, SBI managing director C S Shetty on Friday addressed MSME customers and employees across the nation video conference
 "SBI sanctions loans to over 400,000 MSMEs under credit guarantee scheme")
Covid-19 disruption an opportunity for firms to re-strategise: UBI chief
Rajkiran Rai G said digital is going to be a big wave for both banks and businesses following the coronavirus pandemic
 "Covid-19 disruption an opportunity for firms to re-strategise: UBI chief")
President promulgates ordinance to bring co-operative banks under RBI
The amendments do not affect existing powers of the State Registrars of Co-operative Societies under state co-operative laws
 "President promulgates ordinance to bring co-operative banks under RBI")
SBI seeks new consolidated transaction review, forensic audit of Lavasa
The new forensic audit was necessitated after the National Company Law Tribunal (NCLT) cleared a consolidated bankruptcy process of all Lavasa companies.
 "SBI seeks new consolidated transaction review, forensic audit of Lavasa")
S&P downgrades Axis Bank's issuer rating over risks to Indian banking
Affirming the ratings on 7 other Indian banks, the rating agency said that it expected a very high likelihood of government support underpinning its ratings on government-owned banks
 "S&P downgrades Axis Bank's issuer rating over risks to Indian banking")
UCO Bank eyes non-oil imports from Iran to sustain rupee-rial trade
Lender posts turnaround in Q4, awaits PCA exit
 "UCO Bank eyes non-oil imports from Iran to sustain rupee-rial trade")
SBI seeks new consolidated transaction review, forensic audit of Lavasa
The new forensic audit was necessitated after the National Company Law Tribunal (NCLT) cleared a consolidated bankruptcy process of all Lavasa companies.
 "SBI seeks new consolidated transaction review, forensic audit of Lavasa")
HC queries Centre, RBI on treatment to PMC Bank depositors from YES Bank
The Delhi HC has directed the RBI and the Centre to explain as to how the depositors of scam-hit Punjab and Maharashtra Cooperative Bank are "differently circumstanced" in comparison to Yes Bank
 "HC queries Centre, RBI on treatment to PMC Bank depositors from YES Bank")
RBI Governor briefs central board about the impact of monetary steps
RBI Governor Shaktikanta Das briefed board members about the impact of various monetary and regulatory measures taken by the central bank to deal with the Covid-19 crisis
 "RBI Governor briefs central board about the impact of monetary steps")
Money in Swiss banks: India at 77th place, accounts 0.06% of foreign funds
An analysis of the latest annual banking statistics released by the Swiss National Bank (SNB) showed that India remains ranked very low when it comes to money parked by Indian individuals and enterpri
 "Money in Swiss banks: India at 77th place, accounts 0.06% of foreign funds")