Page 697 - Finance News
RBI categorises IDBI Bank as private sector lender after LIC acquisition
n January, LIC completed the process of picking up a controlling 51 per cent stake in the nearly crippled IDBI Bank
 "RBI categorises IDBI Bank as private sector lender after LIC acquisition")
PSBs may report net profit of Rs 23,000-37,000 crore in FY20: Report
In the first nine month of FY19, the net losses stood at Rs 42,900 crore and is expected to increase to Rs 65,000 crore during FY19 as compared to Rs 85,400 crore during FY18
 "PSBs may report net profit of Rs 23,000-37,000 crore in FY20: Report")
Low retail inflation gives RBI room to support economic growth: Bimal Jalan
The former governor currently heads a central bank-appointed panel, which is studying how much of the RBI's surplus capital can be transferred to the government
 "Low retail inflation gives RBI room to support economic growth: Bimal Jalan")
RBI to hold quarterly meetings with banks' auditors, review governance
RBI to hold quarterly meetings from April 1 on NPAs, governance and fraud
 "RBI to hold quarterly meetings with banks' auditors, review governance")
RBI to swap $5 billion with banks to aid system liquidity
This liquidity will return only in the next financial year as the government starts spending
 "RBI to swap $5 billion with banks to aid system liquidity")
Banks to raise interchange fees for ATM operators by Rs 1.5 to Rs 2
The ATM industry has been lobbying for an increase of inter-change by Rs 3 to Rs 18
 "Banks to raise interchange fees for ATM operators by Rs 1.5 to Rs 2")
SFBs may grow at 30% over medium-term, need Rs 6,000cr capital by FY2
These banks have witnessed growth in assets under management, deposits, and better return on their equities, besides mitigating business risks through diversification
 "SFBs may grow at 30% over medium-term, need Rs 6,000cr capital by FY2")
RBI to infuse Rs 12,500 crore through open market operations on Thursday
The purchase will happen through multi-security auction using the multiple price method.
 "RBI to infuse Rs 12,500 crore through open market operations on Thursday")
NHB's new rules for HFCs will force many to revisit plot they occupy now
In case of deposits, HDFC and PNB Housing have good chunk of total deposits
 "NHB's new rules for HFCs will force many to revisit plot they occupy now")
Is the worst over on dud loans in state-run banks? Here's what data says
State-run banks' standard restructured advances fell to Rs 0.34 trillion by Q3FY19
 "Is the worst over on dud loans in state-run banks? Here's what data says")
There has to be free, fair discussion between govt and RBI: Shaktikanta Das
Shaktikanta Das has been pragmatic and more accommodative of the financial market's concerns even as he keeps his counsel
 "There has to be free, fair discussion between govt and RBI: Shaktikanta Das")
SBI to auction NPAs worth Rs 2,337.88 crore on March 26
The lender said except Mittal Corp and Shree Vaishnav, the auctions are under the Swiss Challenge method and will be conducted on March 26
 "SBI to auction NPAs worth Rs 2,337.88 crore on March 26")
Bank of Maharashtra to auction assets of Videocon Group's Unity Appliances
Videocon Industries and its promoter Venugopal Dhoot and P N Dhoot are guarantors to Unity Appliances, as per the public notice put out by BoM
 "Bank of Maharashtra to auction assets of Videocon Group's Unity Appliances")
Customer response is the key as SBI links deposits, loans to repo rate
The bank will service its savings bank account holders with over Rs 1 lakh of outstanding balance an interest 2.75 per cent lower than the ruling repo rate
 "Customer response is the key as SBI links deposits, loans to repo rate")
PSBs, private banks divided over linking rates to external benchmark
While the RBI has not mandated banks to switch to external benchmarking, it had proposed that they link all new floating retail loans to an external benchmark from April 1
IRDAI seeks proposal from LIC on stake reduction in the IDBI Bank
LIC acquired 51 per cent controlling stake in IDBI Bank, making the insurer the lender's majority shareholder
New NHB norms don't address funding and liquidity issues of HFCs: Moody's
The housing market regulator has proposed to raise capital adequacy ratio for HFCs from 12% to 15% by March 2022 and pare their total borrowings to 12 times their net worth from 16 times
 "New NHB norms don't address funding and liquidity issues of HFCs: Moody's")
Moody's upgrades rating for Central Bank, IOB over capital infusion
Upgrade reflects improved solvency of the banks, following capital infusion by govt. Moody's estimates both banks will achieve a common equity tier-1 (CET1) of more than 8% by March
 "Moody's upgrades rating for Central Bank, IOB over capital infusion")
Despite RBI prod, banks unwilling to cut lending rates as deposits dwindle
Shaktikanta Das, the new RBI governor, has been trying to nudge bankers to lower lending rates, holding meetings with bank chiefs last month to discuss the monetary policy transmission
 "Despite RBI prod, banks unwilling to cut lending rates as deposits dwindle")
IDBI Bank plans to sell Rs 100-billion bad loans, exit PCA by September
Indian lenders burdened with the world's worst bad-loan ratio are stepping up effort to recover delinquent debt after the Reserve Bank of India announced tougher rules
 "IDBI Bank plans to sell Rs 100-billion bad loans, exit PCA by September")