Page 751 - Finance News

RBI denies YES Bank request to extend MD & CEO Rana Kapoor's term

The bank has hired US-based advisory firm Korn Ferry to help with the selection process

RBI reaffirms Rana Kapoor's successor to be appointed by Feb 1: Yes Bank

The private sector lender's appointed committee is targeting to complete the recruitment process latest by mid-December 2018, it added

Danske Bank drops plan to appoint CEO after regulator questions experience

Denmark's largest bank is looking for a new leader after Thomas Borgen was ousted last month as the group struggles to deal with a $235 billion money laundering scandal

Sundaram Finance hikes deposits rates to 7.75% for a year, 8% for 2-3 yrs

The interest rate for Senior Citizens has been increased to 8.25% (8%) per annum for 12 and 18 months

E-wallet mkt surges; India's debit card transactions up 76% in three years

The report attributed rise in non-cash transaction to government's demonetization programme announced in November 2016

CVC shares report on top 100 bank frauds with RBI, ED and CBI

The analysis focussed on the modus operandi, amount involved, type of lending loopholes that facilitated perpetration of the fraud concerned and the systemic improvements required to plug the gaps

RBI issues e-wallet interoperability advice: How it will alter the industry

Enables money transfer between wallets in first phase, with banks in second and through cards in third; 4-5 wallet players already in a testing phase

Federal Bank's Q2 net profit rises 0.9% on higher interest income

Net profit was Rs 2.66 billion ($36.08 million) in the quarter ended September 30, compared with Rs 2.64 billion a year earlier

Auditors flag IL&FS Engineering's loans to subsidiaries, customer dues

Says there is uncertainty over recovery of advances/dues from subsidiaries, customers

More embarrassment for crippled IL&FS as Ind-Ra downgrades its MF schemes

IL&FS and its group companies are facing a liquidity crisis and have defaulted on debt repayments

Govt's disinvestment target likely to fall short by Rs 100-150 billion

Disinvestment target of 2018-19 is likely to fall short of Rs 800-billion

IIFL Home Finance raises Rs 10 bn from NHB and a $50 mn from SBI via ECB

IIFL Holdings is a leading player in the Indian financial services space

PSBs facing another muted quarter due to NPA provisioning, funding costs

While NPA ageing and mark-to-market losses will keep provisioning elevated, high funding cost and slower credit growth will impact topline

How RBI's hard stand on data localisation will impact key players

Local data storage would not only allow the RBI to have unfettered access to the data but would also enable it to monitor payment systems better

ICICI Bank gets RBI clearance to appoint Sandeep Bakhshi as its MD and CEO

Facing enquiry over the charges of nepotism and conflict of interest, ICICI Bank's former MD and CEO Chanda Kochhar had quit the bank on October 4

IL&FS impact: Mutual funds' exposure to group NBFCs under Sebi scanner

In some cases, exposure is as high as 12% of the fund's corpus; a few investments are also in AA rated papers that are relatively less liquid

Govt stake in Allahabad Bank rises by 7.6%, shareholding goes up to 79.41%

The preferential allotment of shares is against infusion of Rs 17.90 billion by the government in the bank

IndusInd Bank posts muted 4.5% Q2 profit growth due to ILFS provisioning

Lender takes a one-time contingent provision hit of Rs 2.75 billion against exposure to IL&FS group; without this provision, its profit would have grown 25%

PNB hopes to realise Rs 86 bn by selling non-core assets: MD Sunil Mehta

PNB has already appointed the merchant bankers for sale of its asset in PNB Housing Finance Company

Hyderabad-based startup AnyTimeLoan.in receives NBFC license from RBI

AnyTimeLoan.in has a minimum net owned fund of Rs 20 million