Page 582 - Finance News
One-time loan recast for India Inc may come up at Friday's RBI board meet
The virtual meeting of the central board will be its first since the outbreak of Covid-19
 "One-time loan recast for India Inc may come up at Friday's RBI board meet")
Fair solution to rate transmission in the works: FM Nirmala Sitharaman
The finance minister told the industry it needed to introspect on how businesses are run and on Aatmanirbhar Bharat, for India to realise the full potential.
 "Fair solution to rate transmission in the works: FM Nirmala Sitharaman")
Covid-19 crisis: Indian banks operating in UK cautiously optimistic
Boris Johnson announced further relaxations in lockdown enforced due to Covid-19 pandemic
 "Covid-19 crisis: Indian banks operating in UK cautiously optimistic")
Indian money parked in Swiss banks down 6%; third lowest in over 3 decades
According to SNB, its data for 'total liabilities' of Swiss banks towards Indian clients takes into account all types of funds of Indian customers at Swiss banks, including deposits from individuals
 "Indian money parked in Swiss banks down 6%; third lowest in over 3 decades")
EXIM Bank is planning to raise $2 bn by end of CY20: MD David Rasquinha
Managing Director David Rasquinha said the bank has enough resources to repay bonds ($500 million) maturing in August.
 "EXIM Bank is planning to raise $2 bn by end of CY20: MD David Rasquinha")
Indian Overaseas Bank back in black with pre-tax profit of Rs 83 crore
With this, the bank has met the final parameter to come out from the Reserve Bank of India's Prompt Corrective Action (PCA) framework, which was imposed in 2015.
 "Indian Overaseas Bank back in black with pre-tax profit of Rs 83 crore")
United Bank of India, OBC slipped into red before merger with PNB
While UBI posted a net loss of around Rs 6,700 crore in the quarter ending March 2020 (Q4FY20), OBC logged a net loss of around Rs 2,700 crore, an executive said, requesting anonymity.
 "United Bank of India, OBC slipped into red before merger with PNB")
IOB posts Rs 143.79 cr net profit in Q4 FY20 on back of declining bad loans
Provisioning for bad loans and contingencies during the quarter under review fell to Rs 1,060.38 crore as against Rs 4,501.92 crore in the year-ago quarter
 "IOB posts Rs 143.79 cr net profit in Q4 FY20 on back of declining bad loans")
Bank of India posts net loss of Rs 3,571 crore for Q4 over bad loans
The bank clocked a profit of Rs 251.79 crore in January-March 2018-19. In December quarter also, there was a profit of Rs 105.52 crore.
 "Bank of India posts net loss of Rs 3,571 crore for Q4 over bad loans")
Federal Bank to buy another 4% stake in its JV from IDBI Bank for Rs 80 cr
The stake buy from the state-run IDBI Bank will take Federal Bank's stake in the 12-year-old company to 30%
 "Federal Bank to buy another 4% stake in its JV from IDBI Bank for Rs 80 cr")
RBI pulls up banks, NBFCs for non-transparency in digital loans
Apex bank says digital platforms claim to offer hassle-free loans to individuals and small traders, but don't disclose who they are associated with
 "RBI pulls up banks, NBFCs for non-transparency in digital loans")
Govt okays Ordinance to give more teeth to RBI over co-operative banks
The RBI will get more auditory and managerial powers over 1,482 urban co-operative banks and 58 multi-state co-operative banks after the Ordinance is approved by the President
 "Govt okays Ordinance to give more teeth to RBI over co-operative banks")
IDBI Bank don't see any 'material impact of Covid-19' on future results
The implementation of lockdown and extensions has resulted in disruptions of business and common life, the lender said in a filing to the exchanges
 "IDBI Bank don't see any 'material impact of Covid-19' on future results")
Google Pay says all UPI transactions on its platform are fully protected
The clarification came after a buzz on social media that issues arising while transferring money through Google Pay are not protected by law as the app is unauthorised
 "Google Pay says all UPI transactions on its platform are fully protected")
Tamilnad Mercantile Bank net profit grows 57.7% to Rs 408 cr in FY20
Gross NPAs of the bank came down 12.6 per cent to Rs 1,020.98 crore, or 3.62 per cent of gross advances, from Rs 1168.11 crore (4.32 per cent) the previous year
Canara Bank's net loss widens to Rs 3,259 cr in Q4 on back of provisioning
The bank had registered a net loss of Rs 551.53 crore during the corresponding January-March 2019 quarter
 "Canara Bank's net loss widens to Rs 3,259 cr in Q4 on back of provisioning")
Cooperative banks to be supervised by RBI; govt to bring an ordinance
All govt banks, including urban and multi-state cooperative banks will be brought under the supervisory powers of the RBI
ICRA, CARE downgrade Yes Bank's rating on upper tier-2 bonds to D
While the bank has adequate liquidity for coupon payment as per Basel guidelines coupon is not payable if the CRAR is below the regulatory requirement
 "ICRA, CARE downgrade Yes Bank's rating on upper tier-2 bonds to D")
Union Bank of India reports pre-tax loss of Rs 3,359 crore in Q4
It posted a net loss of Rs 2,503.1 crore in Q4FY20, against a loss of Rs 3,369.2 crore in the same period a year ago.
 "Union Bank of India reports pre-tax loss of Rs 3,359 crore in Q4")
BoB posts pre-tax loss of Rs 1,723 crore in Q4; stock ends 2.13% higher
The bank posted a net profit of Rs 506.5 crore in Q4FY20 compared to net loss of Rs 991.3 crore in Q4FY19.
 "BoB posts pre-tax loss of Rs 1,723 crore in Q4; stock ends 2.13% higher")