Page 780 - Finance News
No impact of ownership change on debt-ridden IDBI Bank rating, says ICRA
The existing ratings factor is in the sovereign support
 "No impact of ownership change on debt-ridden IDBI Bank rating, says ICRA")
IndusInd Bank Q1 up by 24% at Rs 10.36 billion, asset quality falls
CASA (Current Accounts-Savings Accounts) Ratio improved to 43.42 per cent against 37.78 per cent in June 30, 2017
 "IndusInd Bank Q1 up by 24% at Rs 10.36 billion, asset quality falls")
Who will succeed CEO Shikha Sharma? Axis Bank shortlists three candidates
Axis Bank will be submitting its application in respect of the recommendations relating to the said appointment, for the approval of the RBI
 "Who will succeed CEO Shikha Sharma? Axis Bank shortlists three candidates")
LIC to make open offer to IDBI Bank shareholders for 51% equity: Source
Insurance regulator Irdai has already given its approval to LIC for the stake purchase, a move which will help the debt-ridden bank get a capital support of Rs 100- Rs130 billion
 "LIC to make open offer to IDBI Bank shareholders for 51% equity: Source")
IDBI Bank: Chequered past, troubled present and a stake sale at major risk
The financial institution that became a bank has a history that would have made it awkward for the government to sell stake to a non-government entity
 "IDBI Bank: Chequered past, troubled present and a stake sale at major risk")
ICICI group's insurance arms to focus on technology, newer sales channels
The company in future plans to focus on retail segment and build a 'plug and play' system for their partners
 "ICICI group's insurance arms to focus on technology, newer sales channels")
State Bank of India to raise dollar funds through maiden green bonds
Green bonds are regular bonds, the proceeds of which are used to fund sustainable green projects
 "State Bank of India to raise dollar funds through maiden green bonds")
RBI raises Centre's WMA advances to Rs 700 bn for July-September quarter
'WMA' are temporary advances given by the RBI to government to tide over any mismatch in receipts and payments
 "RBI raises Centre's WMA advances to Rs 700 bn for July-September quarter")
Banks clock 85% of annual credit target of Rs 600 bn in Odisha
Achievement for farm sector is 72.62% of the credit target of Rs 312.08 bn; state surpasses MSME lending target
 "Banks clock 85% of annual credit target of Rs 600 bn in Odisha")
As govt bond yields dry up, central banks ramp up their risk taking
Central banks have earmarked an average of about 14 per cent of their assets for non-traditional investments, a survey showed
 "As govt bond yields dry up, central banks ramp up their risk taking")
CBI seeks support from tax experts to probe multi-billion banking frauds
During 2017, the CBI had registered 939 regular cases and as many as 9,383 cases were pending in various courts at the end of the year
 "CBI seeks support from tax experts to probe multi-billion banking frauds")
PSBs to raise over Rs 500 bn equity capital in FY19 for business growth
Out of 21 public sector banks, 13 have already taken the approval of their boards or shareholders for raising capital through the equity market
 "PSBs to raise over Rs 500 bn equity capital in FY19 for business growth")
Set up central agency with experts to evaluate big loan proposals: ICAI
There are several small banks that don't have proper means to appraise loan proposals, in such cases, a central agency to look at these proposals will play a better role
 "Set up central agency with experts to evaluate big loan proposals: ICAI")
IMPS fund transfers double from previous year to Rs 3.23 trn in Apr-Jun qtr
As per NPCI data, the number of transactions through IMPS crossed 100 million mark in March 2018 and touched a high of 120.4 million in June
 "IMPS fund transfers double from previous year to Rs 3.23 trn in Apr-Jun qtr")
PNB's big wilful defaults fall to Rs 153 bn in June; improve 0.87% over May
PNB suffered a standalone net loss of Rs 122.82 billion in 2017-18, as against a profit of Rs 13.24 billion in 2016-17
 "PNB's big wilful defaults fall to Rs 153 bn in June; improve 0.87% over May")
Sashakt scheme will stabilise bank books in medium term, says Fitch
Successful resolution of bad loans currently under the NCLT and govt's plan to infuse an additional $11 bn as capital in FY19 could stabilise balance sheets over the medium term, Fitch said
 "Sashakt scheme will stabilise bank books in medium term, says Fitch")
RBI fiat on penalties makes auditors see red; banks may have to pay more
The RBI's June 29 circular said it would take punitive action against auditors, mainly in case of divergence in provisioning norms and asset classification
 "RBI fiat on penalties makes auditors see red; banks may have to pay more")
Senior bankers get up to 4 years in jail for 1992 mega securities scam
This special case is a fallout of the financial scam that rocked the economy of the nation in the era of Harshad S Mehta, the judge said
 "Senior bankers get up to 4 years in jail for 1992 mega securities scam")
CBI arrests two retired Bank of India officials in Rs 26.5-bn fraud
V V Agnihotri and P K Shrivastava, retired GM and DGM respectively, had allegedly granted undue favours to DPIL in granting credit limits
 "CBI arrests two retired Bank of India officials in Rs 26.5-bn fraud")
PNB invites bids to sell 3 NPA accounts to recover over Rs 1.36 bn
The process of e-bidding for the sale of these accounts will happen on July 7, 2018, the bank said
 "PNB invites bids to sell 3 NPA accounts to recover over Rs 1.36 bn")