Page 703 - Finance News
PNB's stake sale in housing finance arm 'credit positive': Moody's
"We expect the bank's internal capital generation to improve gradually as declining credit costs alleviate pressure on its capitalisation over the next 12-18 months."
 "PNB's stake sale in housing finance arm 'credit positive': Moody's")
Employee union opposes merger of Lakshmi Vilas Bank with Indiabulls
The union further alleged it (the merger) is obviously a short-circuit method by Indiabulls Housing Finance Ltd and manage to become a bank through this method
 "Employee union opposes merger of Lakshmi Vilas Bank with Indiabulls")
Catholic Syrian Bank plans to change name to 'CSB Bank Ltd' ahead of IPO
The management has said the present name had been a locally known one in Kerala and nearby states for around a century, though it now has branches in many states
 "Catholic Syrian Bank plans to change name to 'CSB Bank Ltd' ahead of IPO")
Lakshmi Vilas bank -Indiabulls merger came as surprise, says bank union
There are around 5,000 employees in Lakshmi Vilas Bank. The merged entity will have 14,302
Bank of Maharashtra lowers lending rates by a nominal 5 basis points
In a 4:2 majority vote, RBI had cut the repo rate to 6 per cent from 6.25 citing the need to support growth that has lost momentum of late in the first bi-monthly monetary policy announced on Thursday
 "Bank of Maharashtra lowers lending rates by a nominal 5 basis points")
Bank of India to divest 25% in Star Union Dai-ichi Life for Rs 1,106 crore
After the stake sale, BoI will hold 3.91% stake in Star Union Dai-ichi Life Insurance
 "Bank of India to divest 25% in Star Union Dai-ichi Life for Rs 1,106 crore")
Lakshmi Vilas Bank to merge with Indiabulls Housing in a share-swap deal
Share-swap deal gives 36% premium to the bank's shareholders
Retail securitisation volume doubles to Rs 1.9 trillion in FY19
One of the biggest reason was that few large mortgage players returned to the market in the first quarter of fiscal 2019 after clarification that securitised assets are not liable to GST
 "Retail securitisation volume doubles to Rs 1.9 trillion in FY19")
BOI to sell 25% stake worth $160 mn in Star Union Dai-ichi Life Insurance
BOI has a 28.96 per cent stake in the joint venture, while Union Bank of India and Dai-ichi Life owns 25.10 per cent and 45.94 per cent, respectively
 "BOI to sell 25% stake worth $160 mn in Star Union Dai-ichi Life Insurance")
Finance Ministry wary of MFs' entry into commodity derivatives space
Last month, the Sebi board approved such participation to provide investors an additional tool to hedge against inflation. The guidelines are awaited
 "Finance Ministry wary of MFs' entry into commodity derivatives space")
RBI to frame new rules on recasting bad loans after SC scraps circular
The banking regulator did not consult the government before issuing the circular, which drags a bunch of companies to the IBC, the court had said
 "RBI to frame new rules on recasting bad loans after SC scraps circular")
Belt-tightening: Vijay Mallya may have to curb weekly spending of $24,100
Mallya, who added a portfolio of real estate, yachts, Scotch whisky and Formula 1 racing to his United Breweries Ltd. business over the last two decades, continues to live a 'lavish lifestyle'
 "Belt-tightening: Vijay Mallya may have to curb weekly spending of $24,100")
Will maintain current fiscal glidepath if voted back to power: FM Jaitley
As per the current medium-term fiscal policy, which is part of the 2019-20 interim budget, the fiscal deficit target for 2019-20 is 3.4%, and 3% for both 2020-21 and 2021-22
 "Will maintain current fiscal glidepath if voted back to power: FM Jaitley")
The glaring gulf between policy rate and market interest rate cycle
Despite the fact that the RBI has now cut the repo rate by 50bps since August 2018, it is clear that the cost of funding for the broader economy seems to be trending upwards
 "The glaring gulf between policy rate and market interest rate cycle")
RBI lowers inflation, GDP growth forecast: Key takeaways from policy meet
GDP growth rate for FY 2020 has been lowered to 7.2 per cent in benign inflation scenario.
 "RBI lowers inflation, GDP growth forecast: Key takeaways from policy meet")
Will come out with fresh circular on resolution of bad loans, says RBI
The Supreme Court quashed the RBI circular of last year that pertains to the provisions for referring the defaulter to the NCLT even on a one-day overdue
 "Will come out with fresh circular on resolution of bad loans, says RBI")
RBI policy: Low inflation and growth are the two key messages from RBI
The Reserve Bank may have a more optimistic view on inflation for the year even, though it has also recognised the risk factors
 "RBI policy: Low inflation and growth are the two key messages from RBI")
5 factors that shaped RBI's inflation forecast and 6 key risks
Besides a normal monsoon, the inflation path, according to the RBI, will be shaped by five factors
 "5 factors that shaped RBI's inflation forecast and 6 key risks")
RBI monetary policy: Reserve Bank cuts repo rate by 25 bps to 6%
It was the first back-to-back rate cut by the central bank since the Monetary Policy Committee (MPC) was formed in late 2016.
 "RBI monetary policy: Reserve Bank cuts repo rate by 25 bps to 6%")
SC order on RBI circular: More options for banks to tackle defaulting firms
Lenders also have the option of restructuring the loans
 "SC order on RBI circular: More options for banks to tackle defaulting firms")