Page 686 - Finance News

Jalan panel proposes 'nominal' transfer of RBI funds to govt over 3-5 years

The committee has recommended a periodic review of the RBI's economic capital framework, according to a source

YES Bank reports 91% decline in net profit in Q1FY20 at Rs 114 cr

In the same quarter of the last financial year (2018-19 or FY19), the bank's profit was Rs 1,260 crore

After PNB, Punjab & Sind Bank detects Rs-238 cr fraud by Bhushan Power

Earlier this month, Punjab National Bank (PNB) said it had reported a borrowing fraud of Rs 3805 crore in Bhushan Power's account to the Reserve Bank of India

Jalan panel to suggest RBI transfer surplus capital to govt in over 3-5 yrs

The surplus capital transfer would help the government meet its fiscal deficit target as it will come as a windfall to the exchequer

MSME focus for Yes Bank; looks to reduce turnaround time to one day

The bank is looking to disburse Rs 500 crore in the next one year through its newly-launched lending program, the Smart Edge for MSMEs

'Anti-patriotic': RSS wing says India must not issue foreign currency bonds

They say it is anti-patriotic as it could create long-term risks for the economy, potentially allowing rich foreign nations and their financial institutions to dictate the country's policies

Old private banks set to improve game with renewed interest from investors

These banks, taking a cue from the recent credit crisis, are reworking their underwriting practices

India's investment banking activities generated $523 mn in fees in H1CY19

During this period, debt and capital markets underwriting fees stood at $135.1 million, up 98.3 per cent

Move to separate HFC regulation and supervision welcome, say experts

There are talks about two debt managers- one, internal (the RBI), and a government entity for the external

White-label ATM firms get breather as RBI allows direct sourcing of cash

Move to allow them to source cash directly from Mint Road comes as a big relief

Federal Bank Q1 net profit up 46% to Rs 384 crore as bad loans ease

It earned Rs 3,229.30 crore as interest income in the June quarter of this financial year

RBI slaps Rs 7 cr fine on SBI for flouting norms on identifying bad loans

The penalty, RBI said, is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers

Deutsche Bank's 18,000 job cuts tip of the iceberg for the finance industry

The so-called fintech revolution, where outsiders are taking over the traditional activities of established players (like payments, lending, depository) is the pinnacle of a new financial order

Life insurers' new premium, led by LIC, jumps 94% to Rs 32,241 cr in June

The country's largest life insurer LIC, which is the only state-owned life insurance firm, witnessed more than two-fold rise in its new premium collection

S R Batliboi & Co resigns as statutory auditor for IndusInd Bank

IndusInd Bank has appointed Haribhakti & Co as statutory auditor for FY20, subject to RBI nod

Eligibility norms for PSU banks to pick pooled NBFC assets likely this week

To address the stress in the sector, Finance minister Nirmala Sitharaman in the Budget proposed that public sector banks would purchase high-rated pooled assets of financially sound NBFCs

Shubhalakshmi Finance aims nearly three-fold jump in loan disbursement

Currently, it said, the NBFC has a presence across seven states

PSU banks losing lead relationships to private banks, says study

SBI is the only outlier in this trend, which has moved faster and made more progress than other PSU banks

IndusInd Bank net profit up 38% in June quarter; stock falls over 1%

The bank saw an increase in its bad debt

Karnataka Bank net profit rises over 7% to Rs 175.42 crore in Q1

Total income during June quarter of 2019-20 rose to 1,829.16 crore from Rs 1,616.44 crore in the year-ago period, the bank said in a regulatory filing