Page 667 - Finance News
HDFC bank takes on e-commerce giants with discounts on 1000 major brands
The bank also listed out targets for merchant acquisitions and said it is aiming for a 5 percentage points reduction in its cost-to-income ratio as a result of the digital push
 "HDFC bank takes on e-commerce giants with discounts on 1000 major brands")
PMC Bank doesn't pose a systemic threat but it is a canary in the coal mine
Given the extent of current nervousness in the financial system, it would be a bad idea to let this problem linger for even six months
 "PMC Bank doesn't pose a systemic threat but it is a canary in the coal mine")
RBI may not give extension to Romesh Sobti, Aditya Puri after terms end
Current RBI thinking is not to align pvt bank CEOs' age limit with Companies Act at 75 years
 "RBI may not give extension to Romesh Sobti, Aditya Puri after terms end")
HDFC Capital Advisors looks to raise $1 billion in affordable housing fund
In talks with Abu Dhabi Investment Authority, NIIF
 "HDFC Capital Advisors looks to raise $1 billion in affordable housing fund")
Crisis-hit PMC Bank used dummy accounts to escape RBI's attention
The bank misled auditors of the RBI by replacing legacy accounts of the company with dummy accounts, dating back to 2008
 "Crisis-hit PMC Bank used dummy accounts to escape RBI's attention")
RBI policy: Fiscal could add a twist to monetary easing, says economist
As the RBI has de-emphasised the concept of real policy rates, forecasting the terminal rate has become more difficult, says Samiran Chakrabarty
 "RBI policy: Fiscal could add a twist to monetary easing, says economist")
RBI got a whiff of evergreening at Punjab and Maharashtra Co-operative Bank
Central bank had flagged large-scale non-performing advances, but didn't have adequate evidence till September 19
 "RBI got a whiff of evergreening at Punjab and Maharashtra Co-operative Bank")
PMC Bank administrator to move EoW against former management soon
The FIRs will be filed at the Economic Offence Wing (EOW) of the Mumbai police
 "PMC Bank administrator to move EoW against former management soon")
RBI wanted PMC chairman Waryam to be sacked in 2018 for irregularities
PMC was placed under an administrator by the RBI on September 24 and suspended its management led by managing director Joy Thomas
 "RBI wanted PMC chairman Waryam to be sacked in 2018 for irregularities")
PMC's HDIL loan at 73% of total loan book: Ex-MD Thomas in letter to RBI
The admission came in after a board member leaked the actual balancesheet details to the Reserve Bank, a source in know of the details said
Reserve Bank puts Lakshmi Vilas Bank under PCA framework over high NPAs
The bank said PCA would not have any adverse impact on its daily operations
 "Reserve Bank puts Lakshmi Vilas Bank under PCA framework over high NPAs")
BS monetary policy poll: Majority see 25-bps rate cut in Oct 4 meet
Inflation to stay within 4% target, say economists
 "BS monetary policy poll: Majority see 25-bps rate cut in Oct 4 meet")
Lakshmi Vilas Bank gets shareholders' nod to raise up to Rs 1000 cr
The resolution to raise funds by issuance of securities was approved by shareholders in the annual general meeting held on September 27
 "Lakshmi Vilas Bank gets shareholders' nod to raise up to Rs 1000 cr")
PMC Bank set to file FIR against sacked managing director Joy Thomas
Joy Thomas to be charged with misrepresenting the bank's books and hiding bad debts of HDIL
 "PMC Bank set to file FIR against sacked managing director Joy Thomas")
RBI's new norms can bring more efficiency in a bank's liquidity management
The framework is proposing that system liquidity should ideally be kept in deficit mode of 0.25-0.50 per cent of the deposit base
PMC Bank chairman Waryam Singh's connection with HDIL runs deep
Waryam Singh held 1.91% stake in HDIL till 2017
New framework to bail out stressed financial companies likely today
Sources said the regulators would identify the companies that would come under the new mechanism and require a lifeline
 "New framework to bail out stressed financial companies likely today")
Reserve Bank officers have Rs 105 crore fixed deposit in PMC Bank
The RBI has said the depositors of the PMC bank would not be allowed to withdraw more than Rs 1,000 from a savings account, current account, or any other deposit account for six months
 "Reserve Bank officers have Rs 105 crore fixed deposit in PMC Bank")
RBI hikes withdrawal cap to Rs 10,000 from Rs 1,000 for PMC Bank customers
The amount is the maximum one can withdraw in six months, and includes the Rs 1,000 withdrawal allowed earlier
 "RBI hikes withdrawal cap to Rs 10,000 from Rs 1,000 for PMC Bank customers")
RBI hikes withdrawal limit to Rs 10,000 from Rs 1,000 for PMC depositors
RBI said the relaxation has been granted with a view to reducing the hardship of depositors