Page 602 - Finance News
HDFC cuts prime lending rate by 15 bps; move to benefit home loan customers
The reduction in rate comes after the RBI provided a boost to the banking system through its policy measures and also introduced a targeted long term repo operation (TLTRO)
 "HDFC cuts prime lending rate by 15 bps; move to benefit home loan customers")
Singapore's Caladium ups stake at Bandhan Bank by 1% via market purchases
It now holds 72 million shares in the lender
 "Singapore's Caladium ups stake at Bandhan Bank by 1% via market purchases")
Moratorium may lead to greater build-up of credit losses for banks: Moody's
Asia's banking sector profitability will also decline from deteriorating asset quality and lower net interest margins, said Moody's
 "Moratorium may lead to greater build-up of credit losses for banks: Moody's")
Covid-19 impact: RBI increases centre's WMA limit sharply to Rs 2 trillion
Ways and means advances (WMA) are temporary liquidity line given by the central bank to the government to meet short-term expenditure needs of the government
 "Covid-19 impact: RBI increases centre's WMA limit sharply to Rs 2 trillion")
ICICI Bank seeks impounding of ships operated by HLT unit Ocean Tankers
The tankers, Wu Yi San and Chang Bai San, were carrying cargoes financed by ICICI, the source said, adding the bank had about $100 million exposure to HLT.
 "ICICI Bank seeks impounding of ships operated by HLT unit Ocean Tankers")
RBI's liquidity support to NBFCs negligible: Emkay Global Research
The RBI has so far not provided any clarity on whether banks will grant moratorium to the shadow lenders on the loans they have availed
 "RBI's liquidity support to NBFCs negligible: Emkay Global Research")
Brookfield's equity infusion crucial for Indostar Capital in Q1 FY21: CARE
Besides challenges faced by wholesale NBFC in particular, the credit costs (amount to be provided for stressed assets), are likely increase post outbreak of COVID 19
 "Brookfield's equity infusion crucial for Indostar Capital in Q1 FY21: CARE")
Covid-19: Post paycuts, young salaried look up to P2P platforms for loans
With no upper limit, the interest rates in the platform can go as high as 35 per cent, on a reducing balance
 "Covid-19: Post paycuts, young salaried look up to P2P platforms for loans")
RBI may cap reverse repo rate to ensure liquidity translates into credit
Lenders to face central bank's censure; board meet in May seen leading to fresh measures
 "RBI may cap reverse repo rate to ensure liquidity translates into credit")
Reopening of services to depend on permission from local authorities: NBFCs
Although the government has allowed NBFCs, HFCs to start operations, they have not allowed resumption of operations in hotspots and have also not permitted field activities
 "Reopening of services to depend on permission from local authorities: NBFCs")
Nabard to review fundings of Regional Rural Banks, co-op banks on April 20
To tap RBI refinance window for funding to RRBs etc
 "Nabard to review fundings of Regional Rural Banks, co-op banks on April 20")
Kotak Mahindra Bank to consider raising equity capital
On a standalone basis, as of December quarter, the lender had a capital adequacy ratio of 18.2 per cent, with tier 1 capital at 17.7 per cent. The regulatory requirement is at 11.07 per cent
 "Kotak Mahindra Bank to consider raising equity capital")
RBI moratorium: 10% provisioning may shave Rs 35,000 cr off bank profits
Banks will have to categorise the moratorium loans as special mention accounts (SMA) wherein loans are in the 0-90 days overdue buckets
 "RBI moratorium: 10% provisioning may shave Rs 35,000 cr off bank profits")
RBI's steps for NBFCs may not boost credit flow to broader economy: Moody's
On Friday, the RBI said it will conduct the second tranche of targeted long-term repo operation (TLTRO 2.0) for an aggregate amount of Rs 50 billion, to begin with.
 "RBI's steps for NBFCs may not boost credit flow to broader economy: Moody's")
HDFC Bank board finalises Aditya Puri's successor, waits for RBI nod
It is one of the most coveted jobs in the Indian banking sector and market watchers are keenly awaiting who will be the chosen appointee.
 "HDFC Bank board finalises Aditya Puri's successor, waits for RBI nod")
Covid-19 crisis: Each bank to decide on granting moratorium to NBFCs
However, there was no clarity on whether the finance companies that borrow from banks would get the option to delay payments to their lender banks.
 "Covid-19 crisis: Each bank to decide on granting moratorium to NBFCs")
Punjab & Sind Bank declares Golden Jubilee Hotels as fraud account
Golden Jubilee Hotels Pvt Ltd is a public-private partnership (PPP) with the Department of Tourism and Youth Advancement, Tourism & Culture, Government of Telangana
 "Punjab & Sind Bank declares Golden Jubilee Hotels as fraud account")
HDFC Banks' PBT rises 2.5% to Rs 9,174 crore; makes higher provisions
It had reported a pre-tax profit of Rs 8,954.38 crore in the same period last financial year (Q4FY19).
 "HDFC Banks' PBT rises 2.5% to Rs 9,174 crore; makes higher provisions")
RBI gives NBFCs more time to restructure commercial real estate loans
Unless demand revives, industry experts say the move may not be very effective
 "RBI gives NBFCs more time to restructure commercial real estate loans")
RBI steps increase lending, but sector-specific package must: Bankers
RBI by reducing reverse repo rate by 25 basis points has sent clear signals to deploy that money - either by investing markets (bonds and short term paper) or by extending credit
 "RBI steps increase lending, but sector-specific package must: Bankers")