Page 676 - Finance News

FM unveils merger of 10 govt banks to revive economic growth from 5-yr low

The exercise, seen together with the previous two rounds of bank consolidation, will bring down the number of nationalised public sector banks to 12 from 27 in 2017

Public sector banks merger: Modi govt to announce big bang plan soon

Finance ministry has called a meeting with chief executives of ten public sector banks on Friday

IDBI Bank offers repo-linked home, auto loans at interest rates from 8.30%

The products -- Suvidha Plus Home Loan and Suvidha Plus Auto Loan -- will be benchmarked to the Reserve Bank of India's (RBI) repo rate and will be available to customers with effect from September 10

Public banks seek LIC funding as deadline to reduce govt stake to 75% nears

Most of the banks are planning to go for a qualified institutional placement to reduce the stake, and LIC would be a major subscriber of the issues, said a banker in a PSB

RBI report reveals changes that helped boost dividend transfer to govt

Valuation method change, provision write-back play key roles to boost dividend

NBFC funding to commercial sector plunges 20% in FY19: RBI annual report

Commercial credit flows from NBFCs stood at Rs 9.34 trillion in FY19, down from a high of Rs 11.60 trillion in the previous financial year

Microfinance sector grows at 42.9% in Q1 FY20 as asset quality deteriorates

The data was released by the Microfinance Institutions Network (MFIN), the representative body of microfinance institutions

After corporate debt, retail loans face stress amid unemployment, slowdown

The govt has unveiled steps ranging from concessions on vehicle purchases to hastening of capital infusion in state-run banks to help re-ignite an economy that's slowed sharply due to weak consumption

For agricultural loans, bankers call for longer repayment period

There were also suggestions to have an agriculture credit guarantee scheme, and a stronger institutional network to prevent multiple lending in the agriculture sector

Moody's cuts YES Bank long term foreign currency issuer rating; stock falls

Moody's said it could change the rating outlook to stable if the private lender adequately provides for its bad assets

Moody's downgrades YES Bank's ratings, changes outlook to negative

Fall in share price will challenge the bank's ability to raise sufficient capital to maintain the rating at its previous level, Moody's said

Pressure on RBI to transfer reserve endangers economic stability: AIBEA

The association's chief says RBI is now maintain the reserve at the lower band of 5.5% instead of at the higher band of 6.5%, leaving little room for it to meet unforeseen contingencies

RBI to move to April-March accounting yr, restrict interim dividend payout

The central board of the RBI, which met on Monday, has accepted this recommendation, according to an official

From DHFL to Gammon India, here're LIC's exposure to default-rated debts

LIC has an exposure of Rs 1,570 crore which have been downgraded to junk category

Explained: What is the fuss all about in RBI's fund transfer to govt?

What is the fuss all about in the Reserve Bank of India's (RBI's) fund transfer to the government? Business Standard explains

Indian banks' recovery will see delay on NBFC, corporate stress: S&P

The growth and profitability of finance companies (fincos) are also likely to remain under pressure, S&P said

RBI's fund transfer eases Centre's gross tax revenue growth target to 16%

The RBI's transfers would effectively add Rs 58,000 crore to the Centre's kitty in the current fiscal year

HDB Financial Services to raise Rs 15,000 cr via non-convertible debentures

HDB Finance, an NBFC in the retail financing space, has seen its overall loan portfolio grow by 22 per cent to Rs 56,287 crore as on June 30 from Rs 45,889 crore a year ago

Private sector banks' pledged shares exposure up by a third since January

Increased pledging is often seen as a sign of liquidity issues with promoter groups

RBI finalises regulatory sandbox framework for innovation in fintech firms

If a fintech firm requires interface with a core banking system for example, a real-time and scaleable model of it will be made available