Page 653 - Finance News
HC relief for SBI, other lenders in debt recovery from crisis-hit DHFL
The lenders, led by State Bank of India, Bank of Baroda and IDFC had moved the high court seeking a relief from an earlier order that restrained DHFL from making any payments to creditors
 "HC relief for SBI, other lenders in debt recovery from crisis-hit DHFL")
New India Assurance profit up 61% in September quarter at Rs 530 cr
There is slow down in motor segment and provisions towards bad debts and diminution in value of certain equity investments further impacted profitability by Rs 40 crore in the quarter
 "New India Assurance profit up 61% in September quarter at Rs 530 cr")
Muthoot Finance pre-tax profit up 42% to Rs 1,116 cr, income rises 32%
Loan assets of the group grow by 13% to Rs 40,390 crore during first half of FY20
 "Muthoot Finance pre-tax profit up 42% to Rs 1,116 cr, income rises 32%")
PMC Bank scam: Mumbai Police Economic Offences Wing arrests another auditor
Her responsibility was to ensure a "systematic and timely examination" of the bank's financial transactions, he said
 "PMC Bank scam: Mumbai Police Economic Offences Wing arrests another auditor")
Videocon case: Kochhar yet to return ICICI Bank bonus despite reminders
Kochhar was directed to return about Rs 10 crore in cash bonuses she had received as CEO
 "Videocon case: Kochhar yet to return ICICI Bank bonus despite reminders")
No more MDs or VPs: Deutsche Bank's asset management unit to abolish titles
As a result, there will be no corporate title promotions in 2019, the memo said. DWS will still have a chief executive and chief financial officer.
 "No more MDs or VPs: Deutsche Bank's asset management unit to abolish titles")
Banks Board Bureau recommends BoB's Sanjiv Chadha for the post of MD & CEO
The bureau has also suggested the names of L V Prabhakar and Atanu Kumar Das for Canara Bank Bank of India chiefs, respectively
 "Banks Board Bureau recommends BoB's Sanjiv Chadha for the post of MD & CEO")
Tamilnad Mercantile Bank net grows 141% in April-September to Rs 62.74 cr
The bank's gross non-performing assets during the first six months of the year stood at Rs 1346.65 crore, or 4.91 per cent of its gross advances
 "Tamilnad Mercantile Bank net grows 141% in April-September to Rs 62.74 cr")
NBFC crisis dragged loan growth to demonetisation lows in Q2: Credit Suisse
While the NBFC sector continues to face the heat, corporate banks seem to be on track to recovery
 "NBFC crisis dragged loan growth to demonetisation lows in Q2: Credit Suisse")
How some financiers are benefiting from India's shadow banking crisis
Many shadow lenders have been effectively shut out of the nation's credit market as the more than 15-month-old banking crisis raises investor wariness about the financiers' ability to refinance debt
 "How some financiers are benefiting from India's shadow banking crisis")
Urban cooperative banks' business size may be capped at Rs 20,000 cr
R Gandhi and Y H Malegam report to be the bedrock of new guidelines
 "Urban cooperative banks' business size may be capped at Rs 20,000 cr")
PMC scam: Mumbai police EOW arrests 2 auditors for covering irregularities
Probing the scam, the EOW suspects a nexus between some of the accused and HDIL group companies
 "PMC scam: Mumbai police EOW arrests 2 auditors for covering irregularities")
PMC Bank crisis: Sessions court rejects bail plea of two directors
Opposing their pleas, the Mumbai Police's Economic Offences Wing (EOW) had said that prima facie a nexus between some of the accused and HDIL group companies has been made out by the agency.
 "PMC Bank crisis: Sessions court rejects bail plea of two directors")
Private banks score on core operations, better control over bad debt in Q2
While profit before tax grew 68.1%, net profit showed an increase of only 1.4%
 "Private banks score on core operations, better control over bad debt in Q2")
400 depositors of scam-hit PMC Bank meet Mumbai police chief Sanjay Barve
The city police's Economic Offences Wing (EOW) is probing the alleged irregularities in grant of loans to certain corporate entities
PE/VC investments in October touch $3.3 billion, continue 2018 trend
Total PE/VC investments in India now stand at $43.7 billion till now this year--16.5 per cent higher than the previous high of $37.5 billion recorded in entire 2018.
 "PE/VC investments in October touch $3.3 billion, continue 2018 trend")
TPG Asia leads Rs 225-cr equity funding for Jana Small Finance Bank
The bank's net non-performing assets were at 1.72 per cent of net advances as on October 31, 2019 and gross non- performing assets stood at 3.98 per cent on AUM.
 "TPG Asia leads Rs 225-cr equity funding for Jana Small Finance Bank")
YES Bank: World's worst-performing bank stock posts globe's biggest surge
Its shares have rallied about 50 per cent -- the biggest gain among global peers valued at more than $1 billion -- after embattled founder Rana Kapoor was forced to sell his holdings in October
 "YES Bank: World's worst-performing bank stock posts globe's biggest surge")
RBI plans PCA framework, different supervisory system for NBFCs by 2022
The RBI contemplates a return to an earlier supervisory rating framework for NBFCs, too, while ensuring financial statement disclosures here are on a par with banks
 "RBI plans PCA framework, different supervisory system for NBFCs by 2022")
PSU general insurance companies seek capital infusion prior to merger
According to rough estimates, the need is at least Rs 2,000-3,000 crore in each of the companies, the total collective requirement is close to Rs 12,000-13,000 crore
 "PSU general insurance companies seek capital infusion prior to merger")