Page 643 - Finance News

Reserve Bank of India February rate cut on a knife's edge: Reuters poll

RBI cited concern about near-term inflation when it took analysts and markets by surprise and kept it unchanged last week

UP cooperative bank employees' PF trust invested Rs 21 cr in scam hit DHFL

Adityanath government to take legal action, including filing for claims with liquidator

IIFL sees opportunity in crisis, bets on beleaguered financial sector

Defaults that began in 2017 with the IL&FS Group have triggered liquidity issues across other banks and shadow lenders that now face increased regulatory scrutiny

Unable to find itself a decent suitor, YES Bank needs an arranged match

Yes Bank needs an arranged match brokered by the RBI, or it's No Bank

Credit crisis is easing in India, but only for safest corporate borrowers

The cash squeeze in the nation's shadow banking industry, which lends to everyone from street vendors to property tycoons, shows few signs of abating

Yes Bank mulls Citax Holdings offer, Erwin Singh Braich still in fray

Board of directors will continue to evaluate other potential investors to raise capital up to $2 bn

SBI under-reported its FY19 NPAs by Rs 11,932 crore, find RBI auditors

As a result, the bank's reported profit of Rs 862 crore for the fiscal year now stands at a loss of Rs 6,968 crore

Bank of Baroda and HDFC Bank cut MCLR by 5 bps and 15 bps respectively

HDFC Bank had also cut its MCLR by 10 bps across tenures last month

Banks' retail credit growth rose due to securitisation by NBFCs: Report

The results of the adjusted credit growth, by deducting the securitisation volumes, gives a fair picture of the situation on the ground, the report said

Union Bank cuts MCLR 5-10 bps across tenors; one-year rate revised to 8.2%

One-year MCLR now stands at 8.20 per cent, down from 8.25 per cent, the public sector bank said

Onion prices could hold the key to RBI's next monetary policy move

The brokerage said if the RBI is not comfortable with a negative real repo rate, which is the repo rate minus the headline inflation, the next rate cut will be in April

IDBI to sell 49% stake in two of its subsidiaries, to retain control

IDBI Bank said it will retain controlling stake in the subsidiaries with itself.

UCO Bank cuts MCLR by 10 basis points across tenors, revises rate to 8.3%

The revised one-year MCLR now stands at 8.30 per cent, down from the existing 8.40 per cent, the state-run lender said in a release.

YES Bank to consider $500-mn Citax offer; Braich's offer under discussion

The board decided that the final decision regarding allotment to Citax Holdings and Citax Investment Group will follow in the next board meeting, subject to requisite regulatory approval

SBI under-reported bad loans by Rs 11,932 crore in FY19: RBI report

Based on the divergence assessed by RBI in provisioning for bad loans, SBI said it would have reported a net loss of Rs 6,968 crore in FY19 as opposed to a profit of Rs 862 crore

What happens when a co-op bank comes under banking act?

The only conversion to date of an urban co-operative bank into a commercial bank is DCB Bank in 1996, which was however not a forced one

SBI cuts MCLR rate by 10 bps for one-year loan, deposit rates unchanged

This is the eighth cut in MCLR in this financial year and follows a 5 bps reduction last month; most banks have linked their lending rates to repo after introduction of the external benchmark system

BoB to sell 10.4 mn shares in proposed UTI AMC initial public offering

Last week, the country's largest lender State Bank of India had approved diluting up to 8.25% stake in UTI AMC

PSBs turn profitable in Apr-Sep FY20, post aggregate profit of Rs 3221 cr

State-run lenders had posted aggregate operating profits during 2017-18 and 2018-19 of Rs 1,55,603 crore and Rs 1,53,871 crore respectively

ICICI Bank opens new center in Bahrain, offers retail, corporate banking

The bank already has a retail branch at the local Manama Centre, it said in a statement