Page 590 - Finance News

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

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.

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

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

RBI proposes upper age limit of 70 yrs for bank CEOs, whole-time directors

Recent events in a dynamic and rapidly evolving financial landscape have led to increasing scrutiny of the role of promoters, major shareholders and senior management vis-a-vis the role of a board

HDFC cuts prime lending rate by 20 bps, move to benefit home loan customers

Following the rate cut, the new rates of HDFC will be in the range of 7.5% to 8.5%

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