Page 597 - Finance News

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

Large stimulus may attract sovereign rating downgrade, say experts

Debt of Centre and states combined is over 70% of GDP already; country is currently just a notch above junk

Lockdown 3.0: Banks may need more regulatory support amid Covid-19 crisis

With credit cost expected to increase by 200-350 bps across banks, asset quality may deteriorate to FY18 levels

Rs 411-crore fraud: SBI approaches CBI as three loan defaulters flee India

Besides SBI, other members of the consortium that has been cheated are Canara Bank, Union Bank of India, IDBI, Central Bank of India and Corporation Bank

Covid-19 impact: SBI Cards' pre-tax profit dips 71% to Rs 112 cr in Q4 FY20

Had it not been for Covid-19 impact, the company would have reported a sharp 80 per cent year-on-year jump in its pre-tax profit to Rs 692 core.

PNB Housing Finance cuts lending rates by 15 bps for existing customers

The company offers its retail customers housing and non-housing loans

Bigger rise in cash in circulation in Jan-Apr than entire 2019: RBI

The rise in currency in circulatiom is perplexing when economic activity has nosedived. Generally, CIC should rise in tandem with growth in economic activities, as people need cash to transact

Covid-19 crisis: It's time for concrete revival plan, says SBI chairman

Rajnish Kumar said, "a certainty on regulatory stance, and support that may be coming from the government, is required as we are now in the exit phase of the lockdown."

YES Bank auditor red-flags multiple breaches of RBI's norms in FY20

Bank sets aside Rs 334 cr for expected penalty for SLR breach

RBL Bank's pre-tax profit declines 58% in Q4 over higher provisioning

The bank saw a healthy growth of 37 per cent in its operating profit at Rs 765 crore compared to Rs 560 crore a year ago.

SBI cuts lending rate by 15 bps, launches scheme for senior citizens

The State Bank of India (SBI) has introduced a special deposit scheme for senior citizens with a higher interest rate

Public sector banks sanctioned Rs 5.66 trn in loans during March-April: FM

During March-April 2020, PSBs sanctioned loans worth Rs 5.66 lakh cr for more than 41.81 lakh accounts