Page 593 - Finance News
Axis Bank's Q4 loss reflects rise in systemic risks in banking sector: S&P
Axis' credit costs for the quarter ended March 31, 2020 are higher than anticipated, but some of it is precautionary
 "Axis Bank's Q4 loss reflects rise in systemic risks in banking sector: S&P")
Slowdown blues: Incremental credit flow drops 64% to Rs 6.04 trn in FY20
Economic slowdown hits activity, adding fuel to the fire
 "Slowdown blues: Incremental credit flow drops 64% to Rs 6.04 trn in FY20")
West Bengal's SLBC to increase rural loans from Rs 4400 cr to Rs 10000 cr
In addition, West Bengal will also request the Reserve Bank of India (RBI) to increase the additional credit limit to MSMEs, to 30 per cent from the existing 10 per cent.
 "West Bengal's SLBC to increase rural loans from Rs 4400 cr to Rs 10000 cr")
Ind-AS increases provisioning pain for NBFCs amid Covid-19 pandemic
Covid-19 has led to lot of uncertainties including those pertaining to the income level of borrowers and hence, their loan repayment ability, savings habit, cash flow position of corporates
 "Ind-AS increases provisioning pain for NBFCs amid Covid-19 pandemic")
Covid-19 crisis: SBI's 10% term loan customers opt for moratorium on EMIs
Senior SBI executives said most of those seeking deferment are retail and micro and small enterprises and are hard-pressed for resources when earning and cash flows have almost dried up.
 "Covid-19 crisis: SBI's 10% term loan customers opt for moratorium on EMIs")
As banker it is my first job to be safe: IDFC First Bank CEO V Vaidyanathan
From now on, the system should open up systematically as people's financial cushions could vanish soon, he says
 "As banker it is my first job to be safe: IDFC First Bank CEO V Vaidyanathan")
Covid-19 impact: Motor, health segments see decline in March premiums
The motor and health segments led the decline in premiums for the industry as the month saw premium fall by 9 per cent.
 "Covid-19 impact: Motor, health segments see decline in March premiums")
Allow restructuring of loans, ask raters not to downgrade: NBFCs to RBI
Mutual Funds say they didn't need to use their liquidity line fully
 "Allow restructuring of loans, ask raters not to downgrade: NBFCs to RBI")
Covid-19 crisis: RBI may extend moratorium on bank loans by 90 more days
Suggestions from various quarters, including from Indian Banks' Association, have come for the further extension of moratorium and the RBI is actively considering them, according to sources.
 "Covid-19 crisis: RBI may extend moratorium on bank loans by 90 more days")
More than 90% CKP Co-op Bank depositors to get back money, says RBI
The RBI cancelled the licence of CKP Co-op Bank on April 28, and notified the cancelletaion on its website on Saturday. There it also said that deposits up to Rs 5 lakh are guaranteed by the DICGC
 "More than 90% CKP Co-op Bank depositors to get back money, says RBI")
BoB NPAs surge six-fold, Indian Bank sees four-times rise in 6 years: RTI
The number of NPA accounts rose from 2,08,035 as of March 31, 2014, to 6,17,306 as of December 2019
 "BoB NPAs surge six-fold, Indian Bank sees four-times rise in 6 years: RTI")
RBI guv Das chastises banks not doing enough on lending, NBFC liquidity
Relaxation likely on branch audit as Guv meets bankers
 "RBI guv Das chastises banks not doing enough on lending, NBFC liquidity")
RBI cancels CKP Co-op Bank's licence on adverse financial position
Depositors to get up to Rs 5 lakh under deposit insurance on liquidation
 "RBI cancels CKP Co-op Bank's licence on adverse financial position")
RBI governor discusses NBFC liquidity, moratorium with bank chiefs
The meetings were also attended by deputy governors and other senior officers of the central bank, RBI said in a statement on its website
Yes Bank appoints Neeraj Dhawan as chief risk officer with immediate effect
Dhawan will assume charge from Saturday in place of Ashish Agarwal, the current chief risk officer, who will be transitioning to a new role in the bank
 "Yes Bank appoints Neeraj Dhawan as chief risk officer with immediate effect")
Fitch affirms Axis Bank's IDR at BB-plus with stable outlook, downgrades VR
Fitch has cut its forecast for India's GDP growth in the financial year ending March 2021 (FY21) to 0.8 per cent from a pre-pandemic forecast of 5.1 per cent
 "Fitch affirms Axis Bank's IDR at BB-plus with stable outlook, downgrades VR")
RBI governor Shaktikanta Das to hold meeting with bank chiefs today
The meeting will take stock of implementation of several steps announced by the RBI, including moderation in interest rate and its transmission, as well as liquidity infusion measures for industry
IDFC First Bank to boost capital by Rs 2,000 cr through preferential issue
Capital infusion to be supported by IDFC limited, ICICI Prudential Life, HDFC Life, Warburg Pincus and Bajaj Allianz
 "IDFC First Bank to boost capital by Rs 2,000 cr through preferential issue")
Discretionary loans, cross-selling likely to reduce after moratorium
Larger challenge is to communicate to borrowers the difference between moratorium and waiver, say lenders
 "Discretionary loans, cross-selling likely to reduce after moratorium")
Regulatory benefits for banks helping mutual fund industry, says RBI
On April 27, the RBI had introduced the Rs 50,000-crore liquidity line for the MF industry