Page 711 - Finance News
Ex-Finance Secretary Hasmukh Adhia appointed non-executive chairman of BoB
The Appointments Committee of the Cabinet has approved his appointment as part-time non-official director as well as non-executive chairman on the board of Bank of Baroda for a period of three years
 "Ex-Finance Secretary Hasmukh Adhia appointed non-executive chairman of BoB")
A91 Emerging Fund to raise $250-300 million to support SMEs
International Finance Corporation to invest up to $25 million for a 20% stake
 "A91 Emerging Fund to raise $250-300 million to support SMEs")
RBI inks $75-billion bilateral swap arrangement with Bank of Japan
The agreement was done during Prime Minister Narendra Modi's visit to Japan in October 2018
 "RBI inks $75-billion bilateral swap arrangement with Bank of Japan")
RBI constitutes task force on offshore rupee market to address woes
The task force will submit its report by June- end.
 "RBI constitutes task force on offshore rupee market to address woes")
Banks say tough for them to reduce interest rates, cite market dynamics
Reserve Bank of India's rate cuts are proving to be ineffective in lowering rates
 "Banks say tough for them to reduce interest rates, cite market dynamics")
Recapitalisation funds to take a while before accelerating credit growth
Bulk of the recap funds to banks will go towards provisioning, and it will take time before it leads to acceleration of credit growth
 "Recapitalisation funds to take a while before accelerating credit growth")
$7 bn fund infusion into PSBs not enough to support lending growth: Fitch
The finance ministry last week announced infusion of Rs 48,239 crore in 12 public sector banks in this fiscal to help them maintain regulatory capital requirements and finance growth plans
 "$7 bn fund infusion into PSBs not enough to support lending growth: Fitch")
Bank of Baroda to sell NPAs worth Rs 6,000 cr, including RCom debt
The bank has identified loans to 49 companies for sale
 "Bank of Baroda to sell NPAs worth Rs 6,000 cr, including RCom debt")
RBI's proposed guidelines may trim future earnings of private bank CEOs
The proposed guidelines said their variable pay needs to constitute at least half of the total remuneration
 "RBI's proposed guidelines may trim future earnings of private bank CEOs")
In a crisis...it pays to be an NRI
Does the RBI's moves on FCNR deposits give NRIs an enormously unfair advantage?
 "In a crisis...it pays to be an NRI")
RBI proposes to rein in compensation packages of private bank CEOs
Penalty on cards if bank underreports bad debt, provisioning
 "RBI proposes to rein in compensation packages of private bank CEOs")
Led by NBFC-MFIs, microfinance loans grow 43% to Rs 1.7 trn in FY19: MFIN
NBFC-MFIs, which hold the largest share in micro-credit space, were able to shake off impact of tight liquidity in Q3
 "Led by NBFC-MFIs, microfinance loans grow 43% to Rs 1.7 trn in FY19: MFIN")
A long wait for bank CEOs as RBI delays FY18 bonuses, stock options
It's only a matter of time before they are cleared, which will give the first glimpse of a new CEO compensation regime.
 "A long wait for bank CEOs as RBI delays FY18 bonuses, stock options")
Axis Bank plans organisational recast, synergy with subsidiaries
In December 2018, the bank announced that Rajiv Anand, executive director-retail banking has taken over as the executive director-wholesale banking
 "Axis Bank plans organisational recast, synergy with subsidiaries")
Developers' borrowing costs go up by 300 bps on IL&FS fallout, slow sales
Along with HFCs, NBFCs account for about 60 per cent of real estate developers' loans as banks stayed away from lending to developers
 "Developers' borrowing costs go up by 300 bps on IL&FS fallout, slow sales")
Finance Ministry hopes 3-4 banks to come out of PCA framework this year
Dena Bank, which is among eight entities under PCA, will cease to exist from April 1, 2019.
 "Finance Ministry hopes 3-4 banks to come out of PCA framework this year")
IL&FS bond toxicity spreads rapidly, hits 4.7 million PLI policy holders
PLI is the oldest insurance company in India which was formed on February 1, 1884, under British India
 "IL&FS bond toxicity spreads rapidly, hits 4.7 million PLI policy holders")
RBI forms new NBFCs' category by merging 3 to ease operational flexibility
The decision was taken by the RBI in its last bi-monthly monetary policy
Renewed US sanctions on Iran to give boost to NPA-burdened Uco Bank
Uco Bank expects its privileged status processing refiners' payments for Iranian oil shipments to add more than Rs 8 billion to annual earnings
 "Renewed US sanctions on Iran to give boost to NPA-burdened Uco Bank")
Lower growth capital remains a key challenge for banks under PCA
Though capital adequacy and net NPAs will improve, banks will need more capital to expand
 "Lower growth capital remains a key challenge for banks under PCA")