Page 599 - Finance News

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 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

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

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

Discretionary loans, cross-selling likely to reduce after moratorium

Larger challenge is to communicate to borrowers the difference between moratorium and waiver, say lenders

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

Fitch downgrades viability rating for four banks on Covid-19 impact

Affirms Issuer Default Ratings for seven banks including these four and Bank of India, Canara and PNB

Covid-19: Average card spend falls 25% as shopping, travel take back seat

With malls and shops closed, spending avenues are practically non-existent.

Sidbi, Nabard compete to lend to top MFIs under RBI's liquidity support

According to informal estimates, the two organisations together are looking to extend Rs 7,000-8,000 crore in funding

NBFCs ask FM to offer credit guarantees to banks on loans extended by them

Industry has also pitched for SPV with initial funding from govt, to help refinance small and mid-sized NBFCs

One month of bank merger: Coronavirus lockdown proves a dampener

On April 1, Punjab National Bank (PNB) took over Oriental Bank of Commerce (OBC) and United Bank of India (UBI) to become the country's second-largest lender after SBI in terms of business

State Bank of India completes promotion exercise, elevates 14 to Dy MD

Given the extended lockdown, the bank extensively used its digital platform, including video conferencing, to carry out the performance review and promotion exercise

PNB Housing Finance CEO resigns, search on for successor in full swing

Vyas is a senior banking professional with over 36 years of experience in banking across a range of diverse functions in both India and overseas

Indian Bank sees new opportunities with larger footprint after merger

Both the banks have come together amid the coronavirus (Covid-19) lockdown and started working as a single bank with a larger footprint.

Lockdown 2.0: Coronavirus-hit units get Rs 10,000 crore from banks

Banks have built internal capacities for assisting companies, including micro, small & medium enterprises (MSMEs).

Over Rs 68,600-crore loans of wilful defaulters written off, says RBI

The write-offs are technical or prudential in nature, which means the banks have made 100 per cent provisions against the loans

Axis Bank set to acquire 29% stake in Max Life Insurance for Rs 1,592 crore

Axis is looking to purchase around 55.61 crore shares of Max Life Insurance at a price of Rs 28.61 per share, but the estimate will change basis the date when the deal is closed

Promoter, PE stake may go up in private banks; IndusInd, HDFC Bank to gain

Lenders are staring at unexpected asset quality losses due to the slowdown in economic activity after the countrywide lockdown.