Page 673 - Finance News

RBI mandates banks to link fresh retail loans to external benchmark

Move to cover fresh retail, MSME loans from Oct 1; home, auto loans to get cheaper

Yes Bank settles 'selective disclosure' of asset quality case with Sebi

The lender pays Rs 51.6 lakh as settlement charges under so-called consent mechanism; its compliance officer pays another Rs 14.45 lakh as settlement in the same matter

Canara Bank to PNB, Moody's affirms rating for five PSBs on merger decision

The affirmations reflect Moody's expectation that the acquiring banks will receive sufficient capital injections

Bank mergers cast shadow on wage negotiations between IBA and unions

Bank unions - officers and workmen - had buried their differences and sat across the table on August 29 to work out a fresh deal with the IBA involving a 20 per cent wage hike

Link all new floating-rate home, auto loans to repo from Oct: RBI to banks

The apex bank also said that the interest rate under external benchmark, like repo, should be reset at least once in 3 months

ICICI bank loans get cheaper! Lending rates cut by 10 bps across maturities

With this cut, which comes amid repeated RBI nudges to slash rates, the total quantum of rate reduction by the bank since April goes to 0.20 percent

Moody's upgrades PNB's outlook to 'positive' from 'stable'

It also affirmed the local and foreign currency deposit ratings of Canara Bank, OBC, Syndicate Bank and Union Bank at Baa3/P-3

Why India could miss fiscal deficit target for the current financial year

By the end of 2019, govt could be forced to raise the fiscal deficit target to 3.5% of GDP from the current target of 3.3% as pressure for more stimulus mount

Canara Bank board to meet next week over Rs 9,000-cr capital infusion

The board will also consider amalgamation of Syndicate Bank with Canara Bank

Confidence crisis at home forcing NBFCs to cough up more for funds overseas

The cash squeeze threatens a broader fallout, as the higher cost of funds is passed on to merchants getting micro loans and property tycoons looking to roll over debt

ARC role in resolution may help pare NPAs to Rs 9.1 trn by March: Crisil

With the share of cash deals rising, discounts could remain high. To make way for newer acquisitions and attract new and repeat investors, ARCs must quickly resolve assets and redeem security receipts

IDBI Bank to get Rs 9,300-crore capital infusion from promoters

This is the first time the government has decided to pump money in IDBI Bank after LIC acquired a majority stake of 51 per cent in the bank - a process completed in January

RBI task force for allowing FPIs to directly purchase distressed loans

There should be a central loan contract registry, the task force suggested

Bank of Baroda to share its merger experience with 10 public sector banks

While the market is looking at near-term implications of the merger like the pace of lending activity, banks are more concerned with long-term issues

Mega merger of public sector banks is a good move, but ill-timed: Analysts

Fear of credit growth, particularly for larger banks, spooked PSB stocks on Tuesday

RBI task force calls for central corporate loan contract registry

The six-member task force, headed by Canara Bank chairman TN Manoharan, was formed to examine the scope for developing a secondary market for corporate loans

Will establish IOB as bank focused on South India: MD and CEO Karnam Sekar

In a Q&A, the bank's chief also dwells the strategies to trim down the lender's non-performing assets

Latest bank mergers unlikely to revive growth, profitability: Credit Suisse

Last Friday, the government had unveiled a mega plan to merge as many as 10 public sector banks into four to help create stronger global-sized banks

Indian Bank expects to merge with Allahabad Bank by end of FY20: Official

The merger of Indian Bank and Allahabad Bank will create a robust entity with a pan-India presence, she said

ICICI Bank targets 23% retail loan growth at Rs 4,900 cr in UP during FY20

The private sector lender to lean on two segments of the business, namely consumer loans and mortgages