Page 620 - Finance News
Soon, you will be charged even for failed transactions at Axis Bank ATMs
The proposed fee will be Rs 25 per transaction; the bank has uploaded a notice on its website listing this and three other charges coming into effect from 1 April 2020
 "Soon, you will be charged even for failed transactions at Axis Bank ATMs")
Assam continues to be a pain point for MFIs as defaults remain high
The portfolio at risk (PAR) for the industry for repayment between 31 and 180 days stood at 1.5 per cent, which was 50 per cent higher on a year-on-year basis
 "Assam continues to be a pain point for MFIs as defaults remain high")
Asian Development Bank lists masala bonds worth Rs 850 crore on India INX
ADB's masala bonds are listed on both Luxembourg exchange and India INX
 "Asian Development Bank lists masala bonds worth Rs 850 crore on India INX")
HDFC Bank aims to become go-to bank for start-ups with grants, platforms
Officials said the bank now has dedicated "SmartUp" zones in 70 branches in 30 cities across India
 "HDFC Bank aims to become go-to bank for start-ups with grants, platforms")
SBI stock basking in optimism; stakes too high to disappoint investors
Optimism on the stock is highest in 15 years; easing of corporate sector stress in Q3 gave the much-needed comfort
 "SBI stock basking in optimism; stakes too high to disappoint investors")
RBI receives Rs 1.23-trn bid for Rs 25,000-cr long-term repo operations
In the auction for three-year maturity liquidity operations made last week, the RBI had received bids worth Rs 1.94 trillion for Rs 25,000 crore on offer.
 "RBI receives Rs 1.23-trn bid for Rs 25,000-cr long-term repo operations")
CRISIL downgrades PNB Housing Finance's deposits rating to 'AA+' from 'AAA'
PNB Housing's fund-raising ability has remained intact over the last 6-9 months and it is continuing to maintain high on-balance liquidity.
 "CRISIL downgrades PNB Housing Finance's deposits rating to 'AA+' from 'AAA'")
Banks facing slow credit offtake, flow to realty needs to improve: RBI Guv
Real estate developers, battling a prolonged slowdown in demand, are struggling to raise funds to construct or complete projects
 "Banks facing slow credit offtake, flow to realty needs to improve: RBI Guv")
Time for Int'l community to build new tax regime embracing digitization: FM
The finance minister emphasised on the need for a closer collaboration between revenue agencies to investigate tax affairs of offenders who cross-borders for escaping tax investigation, a tweet said
 "Time for Int'l community to build new tax regime embracing digitization: FM")
Rs 22,000 cr investments made in Andhra Pradesh since June 2019: State govt
Though oil giant Saudi Aramco was supposed to be a largest investor, particularly in the PCPIR in Visakhapatnam, it went away to Maharashtra
 "Rs 22,000 cr investments made in Andhra Pradesh since June 2019: State govt")
Mega bank consolidation: Meeting April 1 deadline appears challenging
Even after Cabinet approval to the proposed mega merger plan, officials said, fixation of share swap ratio, shareholders consent and other regulatory approvals are expected to take at least 30-45 days
 "Mega bank consolidation: Meeting April 1 deadline appears challenging")
SBI to hold mega e-auction for 1,000 stressed assets to recover dues
The bank published the advertisement for the proposed auction in newspapers as well as the social media
 "SBI to hold mega e-auction for 1,000 stressed assets to recover dues")
Efforts of banks under PCA framework being monitored: RBI Governor
Currently, Indian Overseas Bank (IOB), Central Bank of India, UCO Bank and United Bank of India are under this framework
 "Efforts of banks under PCA framework being monitored: RBI Governor")
Customers will no longer get Rs 2,000 currency notes at Indian Bank ATMs
According to a circular issued by the lender's digital banking division on February 17, cash dispensation from Rs 2,000 currency cassettes would be disabled at all ATMs and cash recyclers on March 1
 "Customers will no longer get Rs 2,000 currency notes at Indian Bank ATMs")
Larger balance sheet helps you give bigger loans: Indian Bank's Chunduru
'Indian Bank is strong in terms of business correspondents', said Chunduru
 "Larger balance sheet helps you give bigger loans: Indian Bank's Chunduru")
Ahead of IPO, SBI Cards sees fintechs, UPI as formidable competition
SBI Cards expects competition to intensify in future
 "Ahead of IPO, SBI Cards sees fintechs, UPI as formidable competition")
IDFC First Bank to raise up to Rs 2000 cr in tier-II debt capital via bonds
Funded assets of the bank rose marginally to Rs 1.06 trillion in December 2019 from Rs 1.04 trillion a year ago
 "IDFC First Bank to raise up to Rs 2000 cr in tier-II debt capital via bonds")
RBI approves Sunil Gurbaxani's appointment as Dhanlaxmi Bank MD and CEO
Gurbaxani is working with Axis Bank at present.
 "RBI approves Sunil Gurbaxani's appointment as Dhanlaxmi Bank MD and CEO")
RBI unveils 5-yr financial inclusion strategy: Here're key recommendations
Under the national strategy, the committee has recommended new entrants to the financial system - eligible and willing to undergo any livelihood/skill development programme
 "RBI unveils 5-yr financial inclusion strategy: Here're key recommendations")
HDFC Bank SME loan book doubles to Rs 1.48 trillion by December 2019
According to the RBI data, the system-wide SME loan book stood at Rs 15.7 trillion as of June 2019, up 10 per cent over the 12 months' period
 "HDFC Bank SME loan book doubles to Rs 1.48 trillion by December 2019")