Page 753 - Finance News
SIDBI keen to expand exposure in MFI industry as it posts 25% annual growth
Pure-play MFIs have been a significant contributor to the growth in microfinance lending and have posted double the growth rate compared to traditional banks in the last fiscal
 "SIDBI keen to expand exposure in MFI industry as it posts 25% annual growth")
BoB chief faces these challenges ahead of merger with Vijaya, Dena Bank
He firmly believes that although BoB is a public sector bank, a lot can be done internally without government intervention
 "BoB chief faces these challenges ahead of merger with Vijaya, Dena Bank")
Banks face various risks from trade tensions, market turmoil: IIF Panel
The saddest thing about the Bali meetings is that "Italy is seen as one of the greatest risks in the world," tweeted Davide Serra, the founder of Algebris Investments
 "Banks face various risks from trade tensions, market turmoil: IIF Panel")
IL&FS crisis: NCLT reserves order on govt's plea seeking 90 days moratorium
Such litigation challenges will impinge on the company's newly reconstituted board of directors from taking decisions
 "IL&FS crisis: NCLT reserves order on govt's plea seeking 90 days moratorium")
Sebi exempts Bandhan Bank from 1-year lock-in period on promoter shares
Bandhan Bank's capital adequacy ratio is in excess of 30%, one of the highest in the industry
 "Sebi exempts Bandhan Bank from 1-year lock-in period on promoter shares")
IL&FS board initiates austerity measures, appoints directors to 8 main arms
New board initiates austerity measures to rationalise operating and personnel expenses across all group entities and not just the holding company
 "IL&FS board initiates austerity measures, appoints directors to 8 main arms")
PCA essential for safeguarding financial stability: RBI's Viral Acharya
Without the PCA imposition, he said some banks would have incurred even higher losses and required even more of taxpayer money for recapitalisation
 "PCA essential for safeguarding financial stability: RBI's Viral Acharya")
IL&FS board appoints nominee directors for arms, starts austerity measures
The newly-constituted board, headed by veteran banker Uday Kotak, met for the second time on Friday
 "IL&FS board appoints nominee directors for arms, starts austerity measures")
SBI's bad loan provision to fall after two quarters: Chairman Rajnish Kumar
India's banks have been plagued by a surge in non-performing loans which hit a record $150 billion at the end of March
 "SBI's bad loan provision to fall after two quarters: Chairman Rajnish Kumar")
Bandhan Bank gets Sebi exemption from 1-year lock-in on promoters' shares
The Reserve Bank of India had earlier barred the lender from opening new branches
 "Bandhan Bank gets Sebi exemption from 1-year lock-in on promoters' shares")
Oil, battered rupee: Mounting risks that are difficult for RBI to ignore
Inflation within target and signs that demand may be cooling in the world's fastest-growing major economy prompted the central bank to keep interest rates on hold last week
 "Oil, battered rupee: Mounting risks that are difficult for RBI to ignore")
Credit growth may slip to 10% on band-aids in future, warn analysts
India Ratings said the 15 top NBFCs have around Rs 5 trillion loan assets that are 'preferred for assignment or securitisation'
 "Credit growth may slip to 10% on band-aids in future, warn analysts")
IL&FS' new board to meet for second time on Friday to decide future plans
Kotak had said the resolution will take some time and the board's focus is to preserve the fair value of the assets and the enterprise to the maximum extent
YES Bank appoints advisory firm Korn ferry to find Rana Kapoor's successor
On September 25, the bank had announced plans to ask the central bank for an extension of Kapoor's term as MD & CEO, which led to the bank being accused of not having a proper succession plan in place
 "YES Bank appoints advisory firm Korn ferry to find Rana Kapoor's successor")
LIC's open offer for 26% stake in IDBI Bank to kick-start from December 3
The open offer is in connection with the LIC's acquisition of 51 per cent controlling stake in the state-owned IDBI Bank
 "LIC's open offer for 26% stake in IDBI Bank to kick-start from December 3")
IL&FS books, riddled with irregularities, sent to audit regulator NFRA
The new management at the beleaguered infrastructure finance company has also started moving on cleaning up the mess
Banks go slow on direct credit disbursals, NBFCs bet on securitisation
The total securitisation portfolio of NBFCs was Rs 836 billion on fiscal 17-18, down from about Rs 900 billion in 2016-17, according to data from Icra
 "Banks go slow on direct credit disbursals, NBFCs bet on securitisation")
New board of crisis-hit IL&FS may approach PSBs to restructure their debt
If the government-owned banks agree, the debt restructuring would help IL&FS tide over the immediate financial crisis
Bandhan Bank Q2 net up 47% to Rs 4.8 bn; net interest income rises 55.6%
Says will submit a strategic plan to RBI to pare stake
 "Bandhan Bank Q2 net up 47% to Rs 4.8 bn; net interest income rises 55.6%")
Govt appoints Rakesh Sharma as MD and CEO of IDBI Bank for six months
He retired from Canara Bank as the MD and CEO after serving for a period of three years from September 11, 2015 till July 31, 2018