Page 625 - Finance News

12% tax revenue growth achievable in 2020-21 fiscal, says Revenue Secy

The 2020-21 Budget has pegged gross tax revenues for 2020-21 at Rs 24.23 trillion, up 12 per cent from Rs 21.63 trillion in the current fiscal

PSU banks adequately capitalised, may see enhanced profits: CEA Subramanian

Recently Punjab National Bank got board approval to raise Rs 1,000 crore from market through bonds

Govt wants continuous engagement with businesses, industries: FM Sitharaman

She said the Centre has introduced some features in the budget like "faceless appeals and sorting out of problems while imparting tax administration"

Importers, exporters to mandatorily declare GSTIN in documents from Feb 15

While importers are paying IGST on imports but not claiming credit for the same. This essentially means that the supply of imported goods to domestic channels is being done without a bill

PNB chief expects a comeback in FY21 with 8-10% credit growth post merger

Merged entity likely to report 8-10% credit growth, better asset quality next fiscal; equity offering by December

RBI Monetary policy: Loans likely to become cheaper by 30 basis points

RBI move to exempt banks from maintaining CRR may free up to Rs 2 trn for lending to retail and MSME segments, says ICRA

RBI to conduct first repo operation on February 17 for Rs 25,000 crore

RBI, in its statement said, LTRO conducted under the scheme will be in addition to the existing LAF and MSF

YES Bank shareholders approve raising Rs 10,000 crore through equity

At an extraordinary general meeting, investors approved a resolution to increase authorised share capital from Rs 800 crore to Rs 1,100 crore

SBI cuts MCLR for ninth straight month making auto, home loans cheaper

The bank also reduced interest rate on term deposits - retail and bulk - by 10-50 basis points (bps) across various tenors

SC stays Bombay HC order to sell HDIL assets and repay PMC bank dues

A bench comprising Chief Justice S A Bobe and justices B R Gavai and Surya Kant took note of the appeal of the Reserve Bank of India against the Bombay High Court order

Govt to soon unveil name, logo of merged entity of UBI, PNB, OBC: Official

The new entity will be the second-largest bank in the country after State Bank of India with a total business volume of Rs 18 lakh crore

Corporation Bank Q3 net jumps 7-fold to Rs 421cr, gross NPA at Rs 19,557 cr

Income increased to Rs 6,051.93 crore, from Rs 4,112.29 crore. On a standalone basis, the net profit increased to Rs 420.68 crore in 3rd quarter ended December 31, 2019 from Rs 60.53 crore a year ago.

UCO Bank reports Rs 960-crore loss before tax in December quarter

Gross non-performing assets as a percentage of lending stood at 19.45 per cent at the end of Q3FY20

Monetary Policy focused on improving rate transmission: RBI bosses

Das also clarified that at the moment there is no plan to monetise government deficit

DBS, Capri Global among suitors for cash-strapped Lakshmi Vilas Bank

LVB's financials deteriorated to 5.56 per cent capital adequacy and 21.25 per cent gross NPA ratio in the September 2019 quarter

India should double credit growth to 15% for $5 trn economy by '25: Bankers

The country has recorded high double-digit credit growth in the past and is capable of achieving similar growth now as well, they added

Monetary policy review: RBI adopts a new liquidity management framework

The central bank also withdrew daily fixed rate repo and four 14-day term repos every fortnight being conducted presently

RBI may cut rate only after retail inflation eases to 5%, says expert

The thrust of RBI's announcements was towards altering the liquidity and macro-prudential frameworks to ensure better monetary policy transmission

High inflation restricts RBI from choosing non-rate tools to support growth

Earlier, the RBI decided to hold rates as widely expected and affirmed to stick to the accommodatory stance for as long as it is required to boost growth

UCO Bank Q3 net loss narrows to Rs 960 cr; ratio of bad loans remains high

The Kolkata-based bank had reported a net loss of Rs 998.74 crore during the corresponding October-December period of the previous fiscal year