Page 721 - Finance News
Banking tech institute proposes blueprint for blockchain platform in India
The institute has proposed a collaborative approach among all the stakeholders in a network while stressing on the need to evolve a codified set of rules for smooth operations and collaboration
 "Banking tech institute proposes blueprint for blockchain platform in India")
RBI announces Rs 10,000-cr bond buyback on Thursday to improve liquidity
The RBI will buyback five securities maturing between June 2019 and December 2033 through the purchase, it said and also specified details of each security
 "RBI announces Rs 10,000-cr bond buyback on Thursday to improve liquidity")
RBI seeks views on NPCI's monopoly, wants to minimise concentration risk
A policy paper placed on the RBI website on Monday discusses the various pros and cons of having a single operator for payments
RBI reluctant to change FPI portfolio limits introduced last year
FPIs had felt the restrictions were too onerous and difficult to monitor, and wanted these to be done away with altogether
 "RBI reluctant to change FPI portfolio limits introduced last year")
Union Bank Q3 net at Rs 153.2 cr; other income up, NPA provisions decline
It had posted a net loss of Rs 124.98 crore in October-December 2017 (Q3Fy18)
 "Union Bank Q3 net at Rs 153.2 cr; other income up, NPA provisions decline")
Kotak Mahindra Bank consolidated Q3 net up 13.5% to Rs 1,844 crore
Net NPA stood at 0.67% for the present quarter, against 0.94% in the year-ago quarter
 "Kotak Mahindra Bank consolidated Q3 net up 13.5% to Rs 1,844 crore")
Canara Bank to sell stake in Small Industries Development Bank of India
Canara Bank has invited bids at a floor price of Rs 225 per share, according to the Request for the Proposal floated by the bank
 "Canara Bank to sell stake in Small Industries Development Bank of India")
IDBI Bank shares tumble over 3% after 51% stake acquisition by LIC
In August last year, the Cabinet approved the acquisition of controlling stake by LIC as a promoter in the bank through a combination of preferential allotment and open offer of equity
 "IDBI Bank shares tumble over 3% after 51% stake acquisition by LIC")
LIC completes the acquisition of 51% controlling stake in IDBI Bank
In August last year, the Cabinet approved the acquisition of controlling stake by Life Insurance Corporation as a promoter in the bank
 "LIC completes the acquisition of 51% controlling stake in IDBI Bank")
Goldman Sachs expects RBI to cut rates by a quarter percentage point in Feb
The Wall Street bank said lower inflation projections, and expectations of a slower pace of US policy rate hikes prompted it to shift its call from a previous forecast of no change in February
 "Goldman Sachs expects RBI to cut rates by a quarter percentage point in Feb")
Insolvency law had teeth. Now, it's got dentures and nobody can save it
A country that needs to sweat every investor rupee and dollar to put its swelling, restive labor force to work will continue to abuse that very thing it doesn't have enough of: capital
 "Insolvency law had teeth. Now, it's got dentures and nobody can save it")
Rs 14,300-cr fraud: Centre issues order to sack two PNB executive directors
The Centre said the PNB two executives failed in their capacity in the top management to justify their dismissal
 "Rs 14,300-cr fraud: Centre issues order to sack two PNB executive directors")
South Indian Bank Q3 profit declines 27% to Rs 84 crore as bad loans rise
The bank had recorded a net profit of Rs 115 crore in the corresponding period of the previous financial year
 "South Indian Bank Q3 profit declines 27% to Rs 84 crore as bad loans rise")
Hitachi Payment Services agrees to buy 26% in stake in SBI Payment Services
The JV will provide various payment options to customers and merchants
 "Hitachi Payment Services agrees to buy 26% in stake in SBI Payment Services")
SBI raises $1.25 billion through bonds from the overseas market
The successful issuance demonstrates the strong niche investor base SBI has created for itself in offshore capital markets
Nabard pegs Odisha's credit potential at Rs 75,612 crore for FY20
The total outlay for credit requirement projections is an aggregation of the 'Potential Linked Credit Plans' prepared by the Nabard for all the districts of the state
 "Nabard pegs Odisha's credit potential at Rs 75,612 crore for FY20")
Centre removes two PNB executive directors for lapses in Rs 13,500-cr fraud
The PNB has intimated the action to the stock exchanges
 "Centre removes two PNB executive directors for lapses in Rs 13,500-cr fraud")
Fed policymakers hint at pausing rate-hike cycle ahead of policy meeting
This follows a wait-and-see approach laid out earlier this month by several other Fed policymakers, making clear that a consensus has emerged among the 17 Fed officials who will meet on Jan. 29-30
 "Fed policymakers hint at pausing rate-hike cycle ahead of policy meeting")
Fincare Small Finance Bank aims to raise Rs 250-300 crore, says CEO
Fincare announced this during its entry into Hyderabad with the launch of its branch at Banjara Hills
 "Fincare Small Finance Bank aims to raise Rs 250-300 crore, says CEO")
RBI governor Shaktikanta Das favours flexible policy objectives
The RBI Act was amended in November 2016 to make the goal as "maintaining price stability keeping in mind the objective of growth." Before that, growth was a clear objective of the RBI
 "RBI governor Shaktikanta Das favours flexible policy objectives")