Page 712 - Finance News
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
 "RBI forms new NBFCs' category by merging 3 to ease operational flexibility")
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")
Small savings investment hits a new high to fund power projects
NSSF offers high-volume long-term debt funding, an area where the bond market falls short
 "Small savings investment hits a new high to fund power projects")
RBI emphasises on quick transmission of monetary policy action by banks
RBI Governor Shaktikanta Das held the first meeting with heads of select commercial banks after the monetary policy review on February 6, 2019
 "RBI emphasises on quick transmission of monetary policy action by banks")
Total gross loan of microfinance industry grows 6% to Rs 65,090 crore in Q3
Combined microcredit portfolio of all lenders as on December 31, 2018, was Rs 1,57,497 crore
 "Total gross loan of microfinance industry grows 6% to Rs 65,090 crore in Q3")
RBI governor Das asks bankers to pass on rate cut benefits to consumers
Even after the last policy rate reduction, only two banks--SBI and Bank of Maharashtra--chose to do something, by lowering just one-fifth of what the RBI did
 "RBI governor Das asks bankers to pass on rate cut benefits to consumers")
Despite capital infusion, full turnaround two years away for PSBs: Moody's
Government had announced Rs 48,239 crore capital infusion into 12 public sector banks in this fiscal to help them maintain regulatory capital requirements and finance growth plans
 "Despite capital infusion, full turnaround two years away for PSBs: Moody's")
Fewer Kisan Credit Card borrowers as banks grapple with NPAs in farm sector
Several public banks are now focusing on agriculture infrastructure credit, like warehouses and cold storages, while the growth in KCC loans remains muted
 "Fewer Kisan Credit Card borrowers as banks grapple with NPAs in farm sector")
This single bond bet involving Warren Buffet cost Deutsche Bank $1.6 bn
Deutsche Bank resisted for years reducing the value of those bonds and related derivatives on its books to a level that markets suggested they were worth
 "This single bond bet involving Warren Buffet cost Deutsche Bank $1.6 bn")
Moody's changes YES Bank's outlook to stable, stock gains over 2%
Moody's assessed that the downside risks to the bank's credit profile have diminished
 "Moody's changes YES Bank's outlook to stable, stock gains over 2%")
FinMin expects bad loan recoveries to touch Rs 1.80 trillion in FY19
Lenders are expecting to recover almost Rs 52,000 crore loan in case of Essar Steel while Rs 18,000 crore from Bhushan Power & Steel Ltd
 "FinMin expects bad loan recoveries to touch Rs 1.80 trillion in FY19")
Govt to infuse Rs 48,239 cr in 12 PSBs; Corporation Bank gets Rs 9,086 cr
Allahabad Bank will be provided Rs 6,896 crore
 "Govt to infuse Rs 48,239 cr in 12 PSBs; Corporation Bank gets Rs 9,086 cr")
Shutting out foreign funds hurts India's bad-debt market, says BofA
In the past year, the US lender has had to team up with local asset reconstruction companies to purchase loans made to firms including Seven Hills Hospitals and GTL Infrastructure Ltd. that had soured
 "Shutting out foreign funds hurts India's bad-debt market, says BofA")
YES Bank denies wrongdoing, says disclosure in line with guidelines
On February 14, the private lender had disclosed that the RAR had not found any divergence in asset classification and provisioning for 2017-18
 "YES Bank denies wrongdoing, says disclosure in line with guidelines")