Page 594 - Finance News

Punjab National Bank reduces lending rate linked to repo by 40 bps

The bank's marginal cost of funds-based lending rate (MCLR) has also been revised downwards by 15 bps across all tenors.

Top private banks' Q4 profits nearly halve on Covid-19 provisioning

The pressure on earnings will continue, say experts

Cash-rich PE firms, NBFCs seek deals from realtors on social media

Deals for stalled projects, last-mile financing being sought

RBI's extension of loan moratorium a credit negative for NBFCs: Moody's

The credit outlook report noted that the Government of India and the Reserve Bank of India have announced a series of measures to alleviate liquidity stress at the NBFCs

YES Bank senior leadership team to have 30% of CTC as variable pay

Private sector lender in a statement said the leadership team has taken a conscious and voluntary decision for the restructuring of their compensation package for FY 2020-21

BBB recommends Ashwini Bhatia for post of State Bank of India MD

The bureau members interfaced with 20 candidates from nationalised banks on May 30 for the position of managing director in State Bank of India

Bank credit shrinks 1.2% in April, gross bank credit falls to Rs 91.53 trn

Loans in the retail segment contracted 2.5 per cent to Rs 24.90 trillion

RBI fines Citibank Rs 4 cr for flouting rules, co-op banks penalised too

Move follows fines imposed yesterday on Bank of India (Rs 5 crore), Karnataka Bank (Rs 1.2 cr) and Saraswat Co-operative Bank (Rs 30 lakh)

Urban co-operative banks seek guarantee cover for their MSME borrowers

UCBs' outstanding loans to MSMEs amount to Rs 82,000 crore

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