Page 591 - Finance News

RBI may need to slash rates alongside providing fiscal stimulus: Economists

The only way to boost demand may be lowering interest rates to boost consumption, analysts said

RBI refuses a dozen licences to NBFCs with investments from Mauritius

PE, VC funds domiciled in the island nation on the radar

Moratorium to strain NBFC liquidity even further, bad debts to rise

These firms operate with very little short-term liquidity, which can become even more strained as customers start defaulting even after the moratorium

PSBs report sharp rise in deposits thanks to YES Bank, Franklin fiasco

Last financial year saw a series of banks failures starting with Punjab & Maharashtra Co-operative Bank and culminated in near collapse of YES Bank, India's 5th-largest private sector bank at its peak

PSBs sanctioned loans worth Rs 6.45 trn in lockdown between Mar 1-May 15

State-owned banks launched an emergency credit line to provide funds to its existing MSME and corporate borrowers in the last week of March

All for liquidity: Watch every rupee, chase dues, and refinance debt

Refinancing high-cost debt into low-cost debt is possible, thanks to the RBI's TLTROs

Reserve Bank makes $21-billion cut to US treasury holdings in March

Central bank does huge OMO silently to control domestic bond yields

Stimulus 2.0: Banks will monitor solvency, guarantees cool credit risk fear

While the issue of providing liquidity to existing borrowers who are sapped of revenues has been addressed, banks will have to undertake due diligence on the solvency of units, said bankers.

RBI googly on adherence to new Press Note 3 norms puts AIFs in a bind

Raises doubts over drawing down capital from Chinese LPs

NBFC yields yet to show contraction in spreads after govt measures

Experts believe spreads will contract as the credit lines start getting utilised, and banks regain confidence about NBFC papers for the long term

Equitas SFB posts 8.4% rise in FY20 pre-tax profit, income up 22%

Bank has made a provision of Rs 99.63 cr for the period ended March 31, 2020, based on assessment of recoverability of advances

Kotak Bank profit before tax slips 10.6% at Rs 2,674 cr for March 2020 qtr

Profit down due to Covid provisioning and lower other income

Sitharaman gives liquidity boost of Rs 75,000 cr to shadow banks, MFIs

Sitharaman announced a special liquidity scheme of Rs 30,000 crore for NBFCs, housing finance companies (HFCs) and MFIs, which are finding it difficult to raise money from the debt markets.

Bad bank may start with Rs 60K-crore NPAs; govt may put in Rs 10K crore

Banking lobby group Indian Banks' Association (IBA) is expected to take the proposal, which is on the lines of the Sashakt panel recommendations, to the finance ministry this week.

Differentiated bank holdco norms on cards; Bandhan, IDFC First may benefit

Lenders that do not have subsidiaries in insurance, asset management, and broking may be exempt from having a non-operative financial holding company (NOFHC).

Some MSMEs may need deep restructuring, not just liquidity: Union Bank

Bank chief Rajkiran Rai says IBA has taken up the issue of restructuring with RBI

IBA considering proposal to set up AMC and AIF, takeover NPAs from PSBs

The coronavirus pandemic is expected to result in a rise in non-performing assets (NPAs) despite relief measures

Bond yields expected to jump 15-20 bps on govt's extra borrowing

The excess borrowing will, however, ease the pressure on the RBI's liquidity operation as banks will absorb the excess G-Secs

Not offering any emergency loan through YONO platform, clarifies SBI

SBI, however, said it is in the process of introducing a pre-approved personal loan offering through YONO to provide relief to its salaried customers during Covid-19 crisis

ICICI Bank pre-tax profit up 82% in Q4; provides heavily for Covid-19

Excluding covid-19 related provisions, the profit after tax of the bank would have been Rs 3,260 crore