Page 622 - Finance News
Common portal for health insurance claim settlements on the cards
Regulator aims to usher time-bound settlement of claims and eliminate disparity in charges among different for some common procedures
 "Common portal for health insurance claim settlements on the cards")
IOB to focus on MSME, will increase lending to Rs 50,000 cr: Official
Laying more focus on MSME segment, IOB would increase its lending to the sector from the present Rs 31,000 cr to Rs 50,000 cr in a couple of years from now.
 "IOB to focus on MSME, will increase lending to Rs 50,000 cr: Official")
Banks' loans rise over 7% in two weeks to January 31: RBI report
Non-food credit rose Rs 1.02 trillion to Rs 100.24 trillion
 "Banks' loans rise over 7% in two weeks to January 31: RBI report")
18 PSBs hit by fraud cases of Rs 1.17 trn in Apr-Dec of FY20: RTI
SBI reported 4,769 cases of banking frauds worth Rs 30,300 crore during the nine-month period
 "18 PSBs hit by fraud cases of Rs 1.17 trn in Apr-Dec of FY20: RTI")
Long-term repo operations will be conducted on fixed-rate basis: RBI
The monetary authority also clarified that the interest on these repos will be compounded on an annual basis and will be conducted at the prevailing repo rate
 "Long-term repo operations will be conducted on fixed-rate basis: RBI")
SBI's Arijit Basu backs oversight on banks without probe agency overreach
Talking about the current levels of non-performing assets, Basu said banks should have been cautious in some cases
 "SBI's Arijit Basu backs oversight on banks without probe agency overreach")
RBI's new asset recognition norms credit negative for banks: Moody's
Last week, the RBI harmonised guidelines for deferment of date of commencement of commercial operations (DCCO) for projects in non-infrastructure and commercial real estate (CRE) sectors
 "RBI's new asset recognition norms credit negative for banks: Moody's")
Advisory Council of 15th Finance Commission to meet on Thursday
The meeting will be chaired by chairman of the Commission, N K Singh, and will be attended by its members including A N Jha, Ashok Lahiri, Ramesh Chand, Anoop Singh and Arvind Mehta.
 "Advisory Council of 15th Finance Commission to meet on Thursday")
Dec quarter shows much-needed improvement in asset quality for PSU banks
Slippages ratio for FY20 pegged at 3.5 per cent a tad lower than previous year's 3.7 per cent, but MSMEs, agri and retail are segments that could see fresh stress
IOB expects to be profitable in Q4 FY20 after being in red for four years
In third-quarter results announced earlier this week, the bank said it plans to come out of PCA by focusing on recovery, low-cost deposits and less capital-consuming advances.
 "IOB expects to be profitable in Q4 FY20 after being in red for four years")
India Ratings downgrades Yes Bank issuer rating from 'A' to 'A-'
This is the third downgrade of the private sector lender by Ind-Ra in last one year - which could adversely impact the bank's franchise and potentially create challenges on asset and liability side.
 "India Ratings downgrades Yes Bank issuer rating from 'A' to 'A-'")
Banks should 'deeply involve' those brought into financial system: Kovind
"The challenge before us is to deeply involve those included. I would urge all of you to think of financial products that meet the needs of those at the bottom of the ladder," Kovind said.
 "Banks should 'deeply involve' those brought into financial system: Kovind")
City Union Bank Q3 PBT dips marginally to Rs 227.43 crore, income up 11%
Gross and net non-performing assets rise
 "City Union Bank Q3 PBT dips marginally to Rs 227.43 crore, income up 11%")
Succession plan is often ill-executed
Most firms lack proper in-house succession planning; and often don't spend enough time, energy and resources in planning for the same
 "Succession plan is often ill-executed")
PNB clarifies no proposal for changing bank's name after UBI flags issue
This statement comes days after a UBI official said that the government is expected to announce the new name and logo of the merged bank which will become operational from April 1, 2020
 "PNB clarifies no proposal for changing bank's name after UBI flags issue")
Falling deposits are the latest problem for Yes Bank after bad loans
The lender issued a statement last month assuring customers about its liquidity and stability and said it is making every effort "to financially strengthen the bank further."
 "Falling deposits are the latest problem for Yes Bank after bad loans")
Allahabad Bank posts Q3 loss of Rs 1986 cr over higher agri provisions
The bank was asked by RBI to revisit restructured agriculture accounts, which led to higher recognition of NPA in the sector
 "Allahabad Bank posts Q3 loss of Rs 1986 cr over higher agri provisions")
IDBI Bank Q3 PBT at Rs 756 cr on higher NII, dip in NPA provisions
Lender posts net loss on one-time hit as it opts for lower tax rate
 "IDBI Bank Q3 PBT at Rs 756 cr on higher NII, dip in NPA provisions")
The hunt for directors' special: Tough for UCBs to form board of management
Senior officials in UCBs say the central bank has not been practical in its approach
 "The hunt for directors' special: Tough for UCBs to form board of management")
Banks to get 5-year CRR relief for lending to auto, housing, MSMEs
While home finance can go for a longer period, and vehicle finance loans can reach seven years, analysts say five years is a good enough window for banks