Page 709 - Finance News

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

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

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

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

RBI had warned govt against demonetisation hours before Modi's announcement

The share of the banned notes in the currency in circulation was about 86 per cent, amounting to about Rs 15.41 trillion

Small Finance Banks, banks cede MFI market share to NBFCs

The share of NBFC-MFIs increased from 32% to 37% in the time period

RBI-Kotak stand-off: Review panel for ownership norms among key proposals

The matter is scheduled to come up for hearing at the Bombay High Court on Tuesday.

IDBI proposes three-year term as MD& CEO for Rakesh Sharma

Forms task force for synergy with LIC, approves insurer as a corporate agent under bancassurance

IDBI drafts revival strategy to bring banking, insurance under one roof

The bank and LIC, through its collective network of branches, offices and workforce, have started leveraging their mutual business synergies

No relief for bond market as RBI may prune debt purchases by over 40%

Tightening the spigot on debt purchases is bad news for a market already jittery about heavy supply of paper from PM Modi's record $100 bn borrowing plan

Small deposits, loans will continue to be MCLR based, says Rajnish Kumar

From May 1, the savings bank deposits with balance above Rs 1 lakh will earn an interest of 3.5 per cent, 2.75 per cent lower than the repo rate and lower amounts in balance will earn 4 per cent

SBI to link saving deposits, loan pricing to repo rate from May 1

SBI is the first lender to announce a timeline to switch to an external benchmark

Ashu Khullar to succeed Pramit Jhaveri as Citibank India head from April 1

Khullar, a graduate from the Indian Institute of Management, Ahmedabad, is a career Citibanker, having worked with the organisation since 1988

RBI fines 36 state, private banks for non-compliance in SWIFT operations

The penalties, ranging from Rs 1 crore to Rs 4 crore, were imposed by orders dated January 31, 2019, and February 25, 2019, the RBI said in a statement.

SBI links pricing of loans, deposits to repo rate; new rate effective May 1

The move will to a large extent speed up the monetary transmission process

Rating agencies have a critical role in financial sector: RBI governor

Das Thursday held a meeting with top officials of credit rating agencies as part of stakeholder consultation exercise

White label ATM operators allowed to buy wholesale cash directly from RBI

The RBI also permitted WLA operators to source cash from any bank, including cooperatives and regional rural banks

BoB, Dena, Vijaya Bank merger could open Rs 1,000 cr IT outsourcing window

Global majors IBM and Accenture set to compete with existing vendors Infosys and HP for deal to integrate different technology stacks used by these PSU lenders

In a first, govt set to issue Rs 20 coin as a 12-edged polygon: FinMin

The exact date of issuance of these new series coins is yet to be announced