Page 679 - Finance News

NBFCs continue to hold major share in retail loans despite liquidity crisis

In FY19, NBFCs had a 30% share in outstanding retail loans, while public sector lenders had a 39% share and private banks had 26%

SBI aims to eliminate debit cards to promote digital payment solutions

SBI chairman said through the Yono platform, one can withdraw cash at the automated teller machines or pay for purchases at a merchant establishment without having a card at all

Govt removes debenture reserve requirement for HFCs, NBFCs, listed firms

Under the companies law, these entities raising money had to create Debenture Redemption Reserve (DRR) and that requirement has now been done away with

FinMin considers stress fund for infra sectors: Urban Affairs Secretary

Finance Minister Nirmala Sitharaman had already held consultations with various stakeholders, including industry, banks, homebuyers, real estate players and capital market participants

RBI Guv Shaktikanta Das rules out asset quality review of NBFCs for now

He said the RBI is keeping a close watch on the interconnectedness of banks and non-banking finance companies and reiterated that the monetary authority will not let any of the top 50-odd NBFCs fail

After SBI, RBI Guv says all banks should link loans, deposits to repo rate

Calling for radical corporate governance reforms at state-run banks, Das said their real test would be their ability to access capital from the markets rather than depending on the govt

Credit rating agencies likely to get access to loan default details

This new norm will address rating agencies' complaints about not getting full disclosures about the potential credit risks of securities

SBI extends credit period to 75-day for auto dealers facing slack in demand

The auto sector is facing its worst crisis in two decades and reports suggest thousands of job losses in the automobile and ancillary industry

Banks may take majority stake in DHFL, convert part of debt into equity

DHFL owes banks Rs 40,600 crore. It also has a liability of Rs 45,380 crore to pay the holders of debentures and bonds

YES Bank's growth secure with balance sheet repair, QIP: Ravneet Gill

Categorically terming the round of fund infusion as growth capital, Gill believes that it gives the bank some breathing room to think about how the bank should be recapitalised further

150,000 bankers to discuss how to make India $5-trillion economy by 2024

To contain high bad loans in the MUDRA scheme, the managers suggested that a national portal be floated to verify the borrower and whether multiple lending has happened

Banks Board Bureau invites applications for post of CEO, MD in PNB, BoI

As per the BBB's recruitment notice, candidates can apply for the vacancies at PNB and BOI till September 16

Punjab & Sind Bank cuts MCLR by 20 basis points for various tenors

Most of the consumer loans such as personal, auto and home are priced on the basis of the one-year MCLR

UBI mulls special loan offers for start-ups, brainstorms on $5-trn GDP goal

The PSB has organised a meeting of all branch heads wherein collective consultative and ideation process was undertaken to align banking with national priorities

IDBI Bank tanks 9% as Q1 loss widens to Rs 3,801 cr on poor asset quality

The bank had posted a loss of Rs 2,409.89 crore in the April-June quarter of 2018-19

IL&FS money laundering case: Enforcement Directorate files 1st chargesheet

The prosecution complaint was filed in a special court of the Prevention of Money Laundering Act, charging former senior management personnel of IL&FS along with Aircel founder C Sivasankaran

Govt adopts a new approach to bring reforms in public sector banks

FinMin has asked govt-owned banks to capture 42 questions on credit, non-performing assets, Mudra loans, agriculture

Stress in agriculture, MSME sector may impact banks' retail loan portfolios

Over the last few quarters, due to stress in the corporate loan sector, banks have been trying to focus on retail loans

FinMin asks PSBs to begin consultation process to achieve $5-trn economy

It also aims to find out the role of PSBs as active partners in the Indian growth story for the next five years

Banks so far passed on only 29 bps to borrowers of RBI's 75 bps cuts: Das

He said banks have taken this stance despite financial markets, on which they depend for money, moving in tandem with the RBI actions and fully absorbing them rate cuts