Page 601 - Finance News

Non-food loan growth pace decelerates to 7.3% in February 2020 from 13.2%

Bankers said the tepid credit off-take was reflection of elongated economic slowdown and demand

Coronavirus outbreak: Consolidation in PSB space now a reality

Each of the amalgamated entities with scale and national reach would have a business of over Rs 8 trillion.

Bank mergers: Allahabad Bank branches are now Indian Bank branches

Effective April 1, Allahabad Bank will merge with Indian Bank, creating an entity with over 6,000 branches, 4,800 ATMs, 43,000 employees, 120 million customers and business mix of Rs 8 trillion

Govt extends term of RBI Deputy Governor B P Kanungo by one year

The apex bank has four deputy governors. Other three are N S Vishwanathan, M K Jain and Michael Debabrata Patra

IndusInd Bank updates analysts on coronavirus impact, bad loans scenario

The bank said credit costs likely to rise by 200-210 bps, targeting 60% provision cover, deposits down by 10-11% in March quarter

Union Bank of India reduces lending rates by 75 bps in line with RBI cut

The new rate will be applicable for all floating-rate personal or retail loans (such as housing and automobiles) and floating-rate loans to micro, small and medium enterprises

Ensure enough cash to meet cash demand post salary transfers: Govt to banks

Banks are expecting a huge number of footfalls due to expected disbursement in Jan Dhan accounts, women beneficiaries, pension accounts and PM Kisan beneficiaries, among others

RBI changes SLBC convenors over merger of 10 PSBs into 4 from April 1

The government on March 4 notified the amalgamation scheme as part of its consolidation plan to create bigger and stronger banks in the public sector

Bank of Baroda cuts personal, retail loan rates by 75 bps to 7.25%

The BRLLR linked to RBI Repo Rate is revised downwards in line with the reduction on Reserve Bank of India Repo Rate from 5.15 per cent to 4.40 per cent

Defaulting promoters may get lifeline, lenders may defer pledged share sale

However, this isn't a blanket policy and will be implemented on a case-by-case basis; accounts granted relief will undergo supervisory review

Banks face operational hurdles in implementing 90-day loan moratorium

With branches and call centres working with skeletal staff, communicating to customers and documenting the process are key challenges

Bank of India cuts MCLR up to 25 bps across category, deposit rate cut next

RBI has expanded liquidity in the system sizably to ensure financial markets and institutions are able to function normally, in the face of Covid-related dislocation

Coronavirus lockdown: IBBI gives time-limit breather for IBC cases

The government had recently raised the threshold for default from Rs 1 lakh to Rs 1 crore to prevent triggering of insolvencies

Banks face operational hurdles in implementing 90-day loan moratorium

With branches and call centres working with skeletal staff, communicating to customers and documenting the process are key challenges

Indian Bank launches mobile ATM to help public deal with Covid-19 crisis

Customers of other banks can also use the facility

Keep banking channels up and running; maintain smooth cash withdrawals: FM

Banks are expected to witness a surge in transactions across channels next week, owing to salary payments to employees

SBI raises $100 mn via green bonds amid volatile market conditions

The bond issue was done through private placement.

Covid-19: Bank employees seek transportation, police protection for working

With the Prime Minister announcing the national-level lockdown and public transportation being stopped in most of the cities, many employees are unable to attend office.

A bazooka of liquidity & ventilator for credit: RBI's response to covid-19

The timely and decisive action by the Reserve Bank of India (RBI) provides vital liquidity and ensures that credit lines remain open

RBI relief package to help sustain businesses during coronavirus: Bankers

The Union Bank CEO said that the RBI's package would help in sustaining business at a time when a 21-day nationwide lockdown to stop the spread of the COVID-19 virus