Page 747 - Finance News

PNB hikes MCLR by 5 bps from November 1, retail loans to be costlier

The benchmark one-year MCLR rate -- on which most of the retail loans are based--stands increased to 8.50 per cent

Dena Bank Q2 loss widens over two-fold to Rs 4 bn; net NPAs rise to 11%

The bank said the board of directors in its meeting held on September 24 recommended for the amalgamation of Dena Bank with Bank of Baroda and Vijaya Bank

FSDC discusses NBFC fund crunch; RBI assures adequate liquidity in system

The meeting assumes significance as the FSDC is meeting for the first time after RBI Deputy Governor Viral Acharya raised issues regarding the independence of the central bank

RBI rift: Govt unhappy with Reserve Bank for making differences public

Governments that do not respect central bank independence will sooner or later incur the wrath of financial markets, Acharya said

LIC Housing Fin Q2 PAT up 12% to Rs 5.73 bn, loan portfolio up 10%

The company recorded a strong growth in the affordable segment both in value and volume terms and continues to enjoy comfortable liquidity position

Backing Acharya, experts say govt's undue pressure on RBI causing friction

Instead of taking hard steps to reform PSBs, Centre continues to pass the buck and makes unwarranted insinuations, say retired RBI official

Lot of triggers for volatility, prefer stability of large-caps: ICICI MF MD

With a weakening rupee and a high current account deficit, export-oriented sectors look attractive, says Nimesh Shah

Union Bank of India reports Rs 1.39 billion net profit in Q2 FY19

The bank had reported a net loss of Rs 15.3 billion in the July-September period of 2017-18

NSDL commences operations as a payments bank, says RBI

In November 2014, the RBI had granted 'in-principle' approval to 11 applicants to set up payments banks

Allahabad Bank hikes benchmark lending rate by 0.05% making loans costlier

The new rates would be effective from November 1

RBI may cut CRR by 1% in Dec if FPI flows don't revive, says BofAML

The report said there will still be a deficit of Rs 1 trn in the system till Dec even if RBI continues to inject money through buyback of govt bonds

Union Bank Q2 profit jumps to Rs 1.39 bn, beats analysts estimates

Analysts on an average had expected a loss of Rs 937 million, according to Refinitiv data

Wrong time to fight? RBI-govt dispute can further damage investor sentiment

If the standoff with the government gets any worse, a test of the central bank's dire warning could come soon

SBI, Hitachi form JV to boost digital payments, card acceptance platforms

Hitachi will contribute to the development and expansion of digital payments service in India by creating an online platform

NPA woes: Banks on top of situation, returning to profit; says SBI Chairman

Rajnish Kumar added that the Insolvency and Bankruptcy Code has come as a 'very good tool' in the hands of the banks and the financial creditors

MFI liquidity crisis: Rs 5 bn needed next quarter; some freeze fresh loans

Even bigger MFIs have cut their fresh disbursement due to liquidity crunch

UIDAI allows banks to use Aadhaar eKYC to authenticate DBT users

The UIDAI wrote to banks after it received legal opinion on the matter, in the wake of a recent Supreme Court verdict

Tough times ahead for residential developers with funding and sales

NBFC-bank credit impact on residential realty market will lead to price corrections, project takeovers and consolidation, say experts

Death benefit upped to 7x under Irdai draft norms for regular life products

Single premium death benefit raised to 1.25x, as regulator focuses on innovations in product structures and marketing

ICICI Bank Q2 net falls over 50% to Rs 9 bn; net interest income rises 11%

Net interest income rose 11% to Rs 64.18 billion in September 2018 against Rs 57.09 billion in the year-ago quarter