Page 586 - Finance News

RBI bars People's Co-operative Bank from granting loans, accepting deposits

The central bank has also barred the co-operative bank from selling, transferring or disposing any of its properties or assets for next 6 months

RBI proposes 10-yr term for bank promoter-CEOs, 15 yrs for non-promoters

If the CEO or WTD is not a promoter or major shareholder of the bank, that person can continue for 15 years at the bank, after which he or she must step down.

Worries over liquidity to boost credit card, personal loans: CIBIL

Unlike the slowdown a decade ago, demand for credit cards and personal loans will remain as consumers look to secure funds to bridge gaps in personal finance.

RBI asks rating agencies to use social media, AI to catch stress signals

Rating agencies meet RBI top brass, seek access to Central Repository of Information on Large Credits (CRILC) maintained by central bank

SBI to dilute 2.1% stake in SBI Life Insurance via offer for sale

SBI is expected to mop up almost $202 million via the share sale.

StanChart's unhappy ending pulls the curtains down on much-touted IDR

India's sole IDR ceases to exists next week; unfavourable regime with regards to taxation, trading and fungibility, and high cost of disclosures and listing, spelled death knell for StanC's IDR

Foreign portfolio investors to pick up $300-million stake in YES Bank

The FPIs are in advanced talks with an Indian bank to act as a custodian.

Union Bank creates new organisational structure with 18 zonal offices

The bank has opened two new zonal offices in the southern part of the countryaimed at further strengthening its market share

SBI board to consider raising up to $1.5 bn by issuing bonds this fiscal

SBI said the capital is proposed to be raised through public and/or private placement of senior unsecured notes in US dollar or any other convertible currency during 2020-21

All kinds of loans cannot be put under moratorium, Sebi tells SC

SEBI filed an affidavit in this regard in the apex court which had sought its stand on a plea

Covid-19 crisis: Payments fall 46% in April; ATM cash withdrawal declines

Retail payments fall 45%, card usage slips 57%

RBI staff studies on NBFCs call for more policy help to avoid systemic risk

While the RBI has done a number of liquidity enhancing measures, and the government has also come up with credit guarantee schemes, the issue in hand is clearly that of solvency

RBI asks SBI to appoint a qualified chartered accountant as CFO

No CA in bank's top brass, as mandated by RBI

Irdai asks insurers, TPAs to disclose infra details of hospitals in network

Insurers and TPAs have been asked to provide details of medical infrastructure of hospitals

Bank of Baroda, Union Bank of India reduce lending rates across all tenors

Bank of Baroda has revised its one-year MCLR to 7.65 per cent from 7.80 per cent

PNB collects Rs 268 cr as ATM charges, annual maintenance fee in FY20

The public sector lender collected Rs 152.88 crore from customers by levying annual maintenance charges (AMC) on debit cards

SBI general meeting to go virtual on June 17, shareholders to cast e-votes

The general meeting can be conducted via a video conference or Other Audio-Visual Means (OAVM) as per Sebi order

FM Nirmala Sitharaman tells banks to improve interest rate transmission

The FM told bankers that interest rate transmission is not happening as expected

Housing finance firms comfortably placed to meet debt obligations: Report

The total maturing debt of HFCs for 2020-21 is estimated to be Rs 2.9-3.2 trillion, of which Rs 1.4 trillion is accounted for by debt markets, rating agency ICRA said in the report.

After deposit rate cuts in May, SBI now slashes lending rates by 25-75 bps

Move will have to be matched by other lenders at a time when margins are under pressure due to extended loan moratorium and a ruling due on whether they can charge interest on the moratorium after all