Page 658 - Finance News
FIIs trim their holdings in 12 private banks in second quarter of FY20
Within the BSE-500 universe, mid-sized private banks are the ones to see deeper cuts in FII stakes
 "FIIs trim their holdings in 12 private banks in second quarter of FY20")
Pune Cooperative bank takes 'possession' of NCP MLA Munde's flat over dues
The NCP leader defeated his cousin Pankaja Munde of the BJP in the just-concluded assembly elections from Parli in Beed district of central Maharashtra
 "Pune Cooperative bank takes 'possession' of NCP MLA Munde's flat over dues")
Nearly 70 senior bankers in race to head debt-ridden Laxmi Vilas Bank
The Chennai-headquartered mid-sized private sector bank has been headless since mid-September after the then chief executive Parathasarathy Mukherjee left before the completion of his three-year term
 "Nearly 70 senior bankers in race to head debt-ridden Laxmi Vilas Bank")
World's most expensive bank cuts drinking water cost to trim expenses
Such stringent cost control is just an example of how the lender has managed to pare expenses and boost efficiency, wooing investors along the way
 "World's most expensive bank cuts drinking water cost to trim expenses")
Risk-based premium for deposit insurance: Time right, but tough to follow
If RBP kicks in, there will be a shakeout among urban-cooperative banks
 "Risk-based premium for deposit insurance: Time right, but tough to follow")
A health check on India's shadow banks shows the crisis is far from over
Troubles began last year when major shadow bank IL&FS Group unexpectedly defaulted, prompting broader shock that made it hard for many companies to refinance debt
 "A health check on India's shadow banks shows the crisis is far from over")
RBI denies dipping into gold reserves, cites other factors for fluctuations
The central bank's gold reserves is valued at about $27 billion as of October 18, latest data showed
 "RBI denies dipping into gold reserves, cites other factors for fluctuations")
ICICI Bank's Q2 pre-tax profit jumps 247% to Rs 4,367 crore in FY20
Retail loans grew by 22% YoY, while SME loan book grew by 29.9%
 "ICICI Bank's Q2 pre-tax profit jumps 247% to Rs 4,367 crore in FY20")
ICICI Bank consolidated Q2 net profit down 6% to Rs 1,131.20 crore
It had reported a net profit of Rs 1,204.62 crore for the July-September period a year ago
 "ICICI Bank consolidated Q2 net profit down 6% to Rs 1,131.20 crore")
SBI pre-tax profit sees three-fold jump to Rs 5,060 crore, beats estimates
Net profit stood at Rs 3,012 crore, as against Rs 945 crore for Q2FY19
 "SBI pre-tax profit sees three-fold jump to Rs 5,060 crore, beats estimates")
Banks' loans rise 8.8% in two weeks to October 11; deposits climb 9.8%
Non-food credit climbed Rs 214.40 billion to Rs 97.28 trillion, while food credit rose Rs 2.05 billion to Rs 602.90 billion
 "Banks' loans rise 8.8% in two weeks to October 11; deposits climb 9.8%")
Worsening global economic outlook may vitiate profit targets: Barclays
The bank said it is on track to meet its 9% return on equity goal for 2019, but that the economic environment means achieving its targets next year will be tougher
 "Worsening global economic outlook may vitiate profit targets: Barclays")
Plotting a fantasy: 3 reasons why DHFL's rescue plan is entirely fictional
The only reason the rescue is even being attempted is to delay - as long as possible - the collapse of the large shadow lender Dewan Housing Finance
 "Plotting a fantasy: 3 reasons why DHFL's rescue plan is entirely fictional")
AGR verdict: Banks fear additional stress from telecom service providers
Intense competition among telcos had already impacted financial profile of firms and court judgment would now only add pressure to burden of paying interest and principal: Senior executive with SBI
 "AGR verdict: Banks fear additional stress from telecom service providers")
IDFC First Bank reports Q2 loss of Rs 680 cr on one-time tax impact
The profit before tax came at Rs 100 crore, as against a loss of Rs 583 crore in the year-ago period
 "IDFC First Bank reports Q2 loss of Rs 680 cr on one-time tax impact")
Bandhan Bank's Q2 results show positive impact of diversification
Net interest margin has started to come off from the 10 per cent plus mark as proportion of lower-yield mortgages rise
 "Bandhan Bank's Q2 results show positive impact of diversification")
IBA rejects bankers' demand for five-day work week, sticks to 12% wage hike
The unions have been demanding a five-day work week since a long time
 "IBA rejects bankers' demand for five-day work week, sticks to 12% wage hike")
HDFC Ltd-promoted Gruh Finance merges with Kolkata-based Bandhan Bank
Bandhan Bank announced the opening of 106 additional home loan distribution points
 "HDFC Ltd-promoted Gruh Finance merges with Kolkata-based Bandhan Bank")
Shadow banking crisis claims another victim; fin stocks a drag on Sensex
Financials have seen sharp erosion in their share prices in wake of the yearlong crisis in India's credit markets
 "Shadow banking crisis claims another victim; fin stocks a drag on Sensex")
DHFL crisis: Banks stare at huge provision burden if fraud is established
KPMG did a forensic audit on DHFL. Its draft report has startling findings and says DHFL could have diverted funds to promoter-led entities