Page 618 - Finance News
Bombay HC rejects Kochhar's plea against her termination from ICICI Bank
ICICI Bank sought dismissal of Kochhar's petition
 "Bombay HC rejects Kochhar's plea against her termination from ICICI Bank")
Govt approves plan for SBI-led consortium to buy stake in YES Bank: Reports
SBI has also been authorised to pick other members of the consortium
 "Govt approves plan for SBI-led consortium to buy stake in YES Bank: Reports")
Merger of 10 banks into 4 to come into effect from Apr 1, says Sitharaman
Integration of balance sheets to be effective from April 1; bank boards to meet soon to finalise the share swap ratio
 "Merger of 10 banks into 4 to come into effect from Apr 1, says Sitharaman")
Coronavirus: Irdai asks insurers to design products covering treatment cost
The regulator has also made it clear that in existing products where the cost of hospitalisation is covered, insurers have to make sure that cases related to coronavirus are dealt with expeditiously.
 "Coronavirus: Irdai asks insurers to design products covering treatment cost")
HDFC cuts lending rate by 5 bps for salaried people, effective from March 9
HDFC cuts lending rate by 5 bps for salaried people, effective from March 9
 "HDFC cuts lending rate by 5 bps for salaried people, effective from March 9")
Moody's downgrades BoB's baseline credit assessment on asset quality issues
Agency also cites deteriorating operating environment for decision; affirms lender's domestic and foreign bank deposit ratings
 "Moody's downgrades BoB's baseline credit assessment on asset quality issues")
HDFC Bank recasts panel to find Puri's successor; Mistry replaced by Karnad
Keki Mistry has been replaced by Renu Karnad of the bank's parent HDFC in the search panel
 "HDFC Bank recasts panel to find Puri's successor; Mistry replaced by Karnad")
YES Bank in talks with mutual funds for raising up to $500 million
If the private bank is able to raise funds in this round, it would get some breathing space
 "YES Bank in talks with mutual funds for raising up to $500 million")
FM Sitharaman introduces bill that aims to prevent a PMC Bank-like crisis
The Banking Regulation (Amendment) Bill, 2020, which comes in the backdrop of PMC Bank scam, seeks to strengthen co-operative banks by increasing professionalism and ensuring sound banking through RBI
 "FM Sitharaman introduces bill that aims to prevent a PMC Bank-like crisis")
Digit Insurance comes up with cover amid deadly coronavirus spread
The maximum coverage that the product assures is to the tune of Rs 2 lakh
 "Digit Insurance comes up with cover amid deadly coronavirus spread")
PNB Housing Finance to raise Rs 1,700 crore in equity through QIP
The housing finance company, however, did not specify timing for the QIP offering
 "PNB Housing Finance to raise Rs 1,700 crore in equity through QIP")
Monitoring coronavirus impact on markets, ready to take action: RBI
The outbreak of coronavirus and subsequent spread to geographies across the world has adversely affected the financial markets
 "Monitoring coronavirus impact on markets, ready to take action: RBI")
Banks to lend Rs 1.85 trn to housing, auto, MSMEs in next 6 months
The recently conducted Long Term Repo Operations (LTRO) by RBI are aimed at providing additional durable liquidity to the Banking Sector
 "Banks to lend Rs 1.85 trn to housing, auto, MSMEs in next 6 months")
Maha Bank to raise up to Rs 600 cr via bonds on private placement basis
To comply with Basel-III Capital Regulations, banks need to improve and strengthen their capital planning processes
 "Maha Bank to raise up to Rs 600 cr via bonds on private placement basis")
Why foreign lenders are rushing to invest in Indian retail banking space
Easing regulations and a surge in online banking are driving the change, with several overseas lenders increasing investment plans for the country to win affluent clients away from domestic rivals
 "Why foreign lenders are rushing to invest in Indian retail banking space")
Post merger, Allahabad and Indian Bank to have 10,000 branches in 2 years
At the end of December 2019, the total business of Allahabad Bank was close to Rs 3.94 trillion, while that of Indian Bank was close to Rs 4.5 trillion
 "Post merger, Allahabad and Indian Bank to have 10,000 branches in 2 years")
RBI nudges public sector banks to take steps to increase credit growth
Bank credit growth declined to 8.5 per cent in January from 13.5 per cent in the year-ago period
 "RBI nudges public sector banks to take steps to increase credit growth")
Bank credit growth dips to 8.5% in January from 13.5% year-ago: RBI data
Growth in advances to the services sector decelerated to 8.9 per cent from 23.9 per cent in January 2019
 "Bank credit growth dips to 8.5% in January from 13.5% year-ago: RBI data")
Unions defer 3-day strike as banks raise pay hike offer to 15% from 12.5%
Banking unions had given a call for a three-day strike from March 11
 "Unions defer 3-day strike as banks raise pay hike offer to 15% from 12.5%")
Allahabad Bank lowers interest rate on external benchmark-linked products
While the RBI's repo rate remains unchanged at 5.15 per cent, the three-month MIBOR (Average) has reduced to 5.75% from 6.15%
 "Allahabad Bank lowers interest rate on external benchmark-linked products")