Page 585 - Finance News
RBI relaxes norms for the deployment of ATMs by white-label players
The total number of ATMs in the country has fluctuated at around 240,000 levels since demonetisation on the back of rising operational costs and the emergence of digital modes of payment
 "RBI relaxes norms for the deployment of ATMs by white-label players")
Covid-19 to accelerate India Inc's migration to safe, large banks
Share of large private banks in corporate relationships have moved from 27 per cent in 2017 to 32 per cent in 2019, according to Greenwich Associates, a Crisil group company
 "Covid-19 to accelerate India Inc's migration to safe, large banks")
PSBs disburse Rs 16,031 cr loan to MSMEs under emergency credit scheme
On May 21, the Cabinet had approved additional funding of up to Rs 3 trillion at a concessional rate of 9.25 per cent through ECLGS for the MSME sector
 "PSBs disburse Rs 16,031 cr loan to MSMEs under emergency credit scheme")
MFIs could lose Rs 1,500 cr on foregoing moratorium interest on interest
Industry fears waiver of interest on interest would distort credit culture, may encourage borrowers who can pay to defer repayment
 "MFIs could lose Rs 1,500 cr on foregoing moratorium interest on interest")
PNB Housing Finance plans to sell corporate loans up to Rs 2,000 crore
PNB HFC is in talks with banks for offloading a part of corporate loan book, and expects to finalise the deal in next few weeks, said Neeraj Vyas, MD and CEO of the housing finance company.
 "PNB Housing Finance plans to sell corporate loans up to Rs 2,000 crore")
Banking system is in a Catch-22 situation: Indian Bank's Padmaja Chunduru
Indian Bank has 450,000 MSME customers who are eligible for loans guaranteed by the government.
 "Banking system is in a Catch-22 situation: Indian Bank's Padmaja Chunduru")
Widen MSME scheme ambit: Private lenders to FM Nirmala Sitharaman
Govt likely to issue clarification to add more borrowers under ECLGS
 "Widen MSME scheme ambit: Private lenders to FM Nirmala Sitharaman")
Lakshmi Vilas Bank receives LoI from Clix Capital for 51% stake purchase
Deal size pegged at Rs 1,400-1,500 cr; Clix may also want to take up to 74% by roping in another investo
 "Lakshmi Vilas Bank receives LoI from Clix Capital for 51% stake purchase")
CSB Bank turns around with Rs 134 cr PBT in FY20 after years of losses
Despite a one-time hit of Rs 87 cr on its P&L for switching over to lower tax rate regime, the lender has posted net profit of Rs 13 crore in FY20 from a loss of Rs 197 crore of FY19
 "CSB Bank turns around with Rs 134 cr PBT in FY20 after years of losses")
Don't decriminalise, fix financial limits for cheque bounce: Bank union
The risk of imprisonment for actions or omissions that aren't necessarily fraudulent or the outcome of mala fide intent is a big hurdle in attracting investments
 "Don't decriminalise, fix financial limits for cheque bounce: Bank union")
PNB extends credit line of Rs 750 cr for Gorakhpur Link Expressway
The 91-km expressway will connect Gorakhpur district, the pocket borough of Chief Minister Yogi Adityanath, with another expressway project, the 340-km Purvanchal Expressway.
 "PNB extends credit line of Rs 750 cr for Gorakhpur Link Expressway")
RBI steps up monitoring of retail payment modes, modifies framework
The RBI has classified the National Payments Corporation of India (NPCI) as FMI, thereby increasing the regulatory oversight on the entity
 "RBI steps up monitoring of retail payment modes, modifies framework")
PNB Housing Finance books Rs 351-cr loss in Q4 on increased write-offs
Capital adequacy was 17.98 per cent, of which Tier I capital was 15.18 per cent and Tier II capital was 2.80 per cent. The Board did not recommend a dividend for FY20
 "PNB Housing Finance books Rs 351-cr loss in Q4 on increased write-offs")
RBI modifies framework for financial market infra, retail payment system
The RBI, as per the document, will carry out the oversight activity through monitoring existing and planned systems
Fell short of mandatory borrowing through debt securities in FY20: PNB HF
The housing finance company (HFC) said its incremental borrowing last fiscal was Rs 21,870 crore
 "Fell short of mandatory borrowing through debt securities in FY20: PNB HF")
RBI sets up panel to review corporate structure of private sector banks
The RBI said it was doing so to align regulations to meet the requirements of a dynamic banking landscape
 "RBI sets up panel to review corporate structure of private sector banks")
As farm sector gains importance, HDFC Bank reworks strategy for rural areas
The State Bank of India has also created a separate business vertical to focus on financial inclusion and micro-markets (FI&MM) in semi-urban and rural areas
 "As farm sector gains importance, HDFC Bank reworks strategy for rural areas")
After IL&FS crisis, Covid-19 makes NBFCs struggle despite RBI actions
While bank credit to NBFCs has seen a rise of 30 per cent year on year, credit has mostly flown into larger NBFCs with good parentage and ones with better ALM positions.
 "After IL&FS crisis, Covid-19 makes NBFCs struggle despite RBI actions")
RBI to review guidelines on ownership, corporate structure of pvt banks
RBI said it is necessary to align regulations to meet the requirements of a dynamic banking landscape
 "RBI to review guidelines on ownership, corporate structure of pvt banks")
Slow rate cut transmission hurting returns on HAM projects: India Ratings
The RBI has slashed repo rates by almost 200 basis points since June 2019 from 6.25 per cent to 4.25 per cent to ensure availability of cheaper credit
 "Slow rate cut transmission hurting returns on HAM projects: India Ratings")