Page 689 - Finance News

Allahabad Bank might partially exit insurance venture Universal Sompo

Lender is seeking a fresh valuation of the company after it posted positive results in Q4FY19

Karnam Sekar takes over as IOB MD and CEO from R Subramaniakumar

Sekar was on Special Duty and has been a whole-time director of the Bank since April 2019

SBI to raise $1 bn in perpetual debt to boost capital ratio, bolster loans

The Mumbai-based lender's board approved a sale of the Basel III-compliant debt instrument in the year to March 31

No bank has power to employ bouncers to recover loans forcefully: Govt

Singh also said there is a clear directive of RBI to appoint recovery agents only after proper police verification and fulfilling other relevant formalities

Under Sebi's glare, Icra sends MD & CEO Naresh Takkar on forced leave

The agency has appointed chief financial officer Vipul Agarwal as the interim chief operating officer who will be reporting to the board, according to a statutory filing

HFCs asset growth halves to about 10% in H2FY19 on fund crunch: Crisil

Annual growth in AUM pegged at 12-14% in FY20 and FY21, from about 15% seen earlier; growth in first half of FY19 was 21%

Govt considering more powers for RBI to regulate shadow banking sector

The government does not have any plans to infuse funds in privately-held shadow banks, FM Sitharaman said

N S Vishwanathan re-appointed deputy governor of RBI for one year

His existing tenure was to end Wednesday, July 3.

ICICI Bank cuts lending rates by 10 bps weeks after slashing deposit rates

The one-year MCLR, to which a majority of loans like residential mortgages and auto loans are tied, now stands at 8.65%

RTGS, NEFT transfers set to get cheaper from today as RBI scraps charges

Currently, the RBI 'levies minimum charges' on banks for transactions routed through its RTGS and NEFT system

State-run banks may get flexibility in deciding employees' salaries

Workmen and officer unions likely to hammer out separate deals

Bandhan Bank to shift focus from large corporate loans to microfinance

At present, microfinance is 86% of Bandhan Bank's book

Bank digitisation creates new jobs: Robot programmer to blockchain expert

The shift towards digitisation has also led to the growing importance of digital officer

NBFC crisis impacts Birla AMC Realty Fund's ability to exit 8 of 13 deals

Several of its investments are in Mumbai property market; fund is currently valued below its NAV

Crisis-hit DHFL defers March quarter financial results; stock falls by 12%

A source said the auditor has raised additional queries on the firm's accounts

Bandhan Bank to stay away from corporate loans, focus more on micro-loans

The gross NPAs of Bandhan Bank at the end of Q4FY19 for the bank stood at 2.04%, against 1.25% in the same quarter a year ago

RBI sets average base rate of 9.18% for NBFC-MFI borrowers for July quarter

RBI sets the average base rate for NBFC-MFIs on the basis of average of base rate of the five largest commercial banks

Chris Wood sees 100 bps cut in repo rate; hikes allocation in Axis Bank

The central bank has already slashed the repo rate by 75 bps since December 2018 when Shaktikanta Das took over reigns from Urjit Patel as the RBI governor

Failure of large HFCs similar to bank collapse, says RBI report

Financial stability report says recent NBFC crisis has brought greater discipline to sector

Fixed maturity plans of mutual funds face risk of concentration: RBI report

The report also pointed out that the nature of recent FMP defaults had primarily involved debt obligations backed by pledging of shares of group companies