Page 589 - Finance News

Indian banks' asset quality pressure may last for at least 2 years: Fitch

Fitch estimates that the impact on impaired loan ratios could be anywhere between 200 to 600 basis points depending on the severity of stress and banks' individual risk exposures.

Covid-19 impact: Home Credit India to give pink-slips to 1,800 employees

Home Credit India said it was a tough decision and the organization is trying its best to help the impacted people in getting securing new opportunities

RBI issues cash management bills worth Rs 80,000 cr after good response

The RBI received bids of Rs 3.45 trillion, or more than four times the amount on offer.

RBI imposes penalties on three banks for non-compliance of norms

Bank of India suffers Rs 5 cr fine, Karnataka, Saraswat hit with Rs 1.2 cr and Rs 30 lakh penalty

Federal Bank's Q4 PBT declines 32% over provisions for Covid-19 pandemic

The bank's provision coverage ratio improved to 72.48 per cent at end of March 2020, up from 67.16 per cent in March 2019

Asset quality pressure may last 2 yrs, spike banks' bad loans by 6%: Fitch

Rating agency says moratorium extension, easing of working capital loan limits

India can tide over worst recession, but govt must be careful: Experts

Montek Singh, D Subbarao were participating in a webinar hosted by Bhavan's SP Jain Institute of Management Research

State Bank of India slashes FD rate by 40 bps, second cut in May

The lender will also extend EMI moratorium by 3 months for all eligible customers without waiting for a request

Irdai allows PNB to hold more than 10% promoter stake in 2 insurance firms

The insurance regulator has allowed PNB to keep its shareholding in both the insurance companies intact for now

India may need to pump Rs 1.5 trn into coronavirus-hit state banks: Report

"The situation is very grim," the source said, adding that banks would require fresh funds soon

SBI extends term loan EMI moratorium by 3 months as coronavirus 'respite''

The state-owner lender said it had contacted loan customers to obtain their consent to stop their Standing Instructions

10-15% moderation in salaries not to impact lending practice: HDFC Bank

If the corporates are looking at moderation in salaries or in the increments, the same needs to be watched carefully from a prudential perspective, said the bank's country head for retail lending

Banks not passing rate cut benefits to borrowers, developers: CREDAI to RBI

RBI has directed the banks to link floating rates on housing loans to external benchmarks

Kotak launches $1 bn QIP, will issue 65 mn new shares for Rs 1,147.75 each

The bank has the discretion to offer up to 5% discount on floor price to investors participating in the QIP programme

Huge scam in YES Bank for many years, says Enforcement Directorate

Rana Kapoor's wife also charged with abetting crime

ATMs to become virtual bank branches, accept deposits with instant credit

Close to 14.6 per cent (or 35,000) of the 240,000 ATMs in India are new-age recyclers, even though they have been around for only 3 years on the local landscape.

IDFC First Bank seniors to forgo 65% of bonus amid Covid-19 crisis

V Vaidyanathan, managing director and chief executive, will take 30 per cent cut in his compensation, including fixed compensation as well as all allowances.

Bank of Maharashtra sanctioned Rs 2,789 cr in loans to MSMEs in 3 months

The bank said it was now gearing up to extend the stimulus package announced by Finance Minister Nirmala Sitharaman to restart business activities

Bank of Baroda to advance Rs 12,000 crore to MSMEs under govt scheme

Under the scheme, the government will offer 100 per cent guarantee on loans.

DCB Bank's profit before tax declines 37.6% to Rs 93.84 crore in Q4

Net profit for the financial year ended March 31, 2020 (FY20), stood at Rs 337.25 crore, up marginally from Rs 325.37 crore in FY19.