Page 787 - Finance News
A man for all seasons: Srikrishna to probe conflict charges against Kochhar
Srikrishna, who hails from a Kannadiga family, is a second generation lawyer
 "A man for all seasons: Srikrishna to probe conflict charges against Kochhar")
NPA write-offs by PSBs surge 140 per cent over their losses in FY'18
This is for the first time in a decade that banks have made huge write-offs of bad loans along with booking of hefty losses
 "NPA write-offs by PSBs surge 140 per cent over their losses in FY'18")
Piyush Goyal to meet chief executives of six PSBs to discuss bad loans
Nineteen out of 21 PSBs had reported net losses and a sharp rise in bad loans in 2017-18
 "Piyush Goyal to meet chief executives of six PSBs to discuss bad loans")
Reserve Bank must act as alert inspector, not just off-site surveyor: Union
The union said, RBI could train newly recruited computer-savvy assistants in banks for assisting this monitoring exercise
 "Reserve Bank must act as alert inspector, not just off-site surveyor: Union")
Foreign exchange reserves rise by $879.5 million to $413 billion: RBI
The country's reserve position with the IMF also increased by $2.3 million to $2.029 billion, the apex bank said.
 "Foreign exchange reserves rise by $879.5 million to $413 billion: RBI")
HSBC's lending push faces entrenched local rivals and past mistakes in US
HSBC's underperformance in the US, where it is a relative minnow in contrast to its strong position in Europe and Asia, is partly a legacy of its disastrous foray into subprime lending in the country
 "HSBC's lending push faces entrenched local rivals and past mistakes in US")
Higher crude, interest rate may cap GDP at 7.5%, says Japan's Nomura
It can be noted that there was a dip in the growth in the first half of the previous fiscal, which was attributed by analysts to GST implementation and the waning effects of demonetisation.
 "Higher crude, interest rate may cap GDP at 7.5%, says Japan's Nomura")
Canara Bank sees credit growth at 14% this fiscal; plans to raise Rs 70 bn
N Sivasankaran, Chief Financial Officer of Canara Bank told Business Standard that the capital raising plan is primarily aimed at funding the credit growth
 "Canara Bank sees credit growth at 14% this fiscal; plans to raise Rs 70 bn")
RBI to give relief to foreign portfolio investors on some of new norms
The central bank is planning to give relief to FPIs on two of the new norms amid concerns expressed by overseas funds
 "RBI to give relief to foreign portfolio investors on some of new norms")
Government bond yields poised to rise as market reacts to RBI's rule change
The prevailing environment of rising bond yields, in part due to RBI's hawkish policy bias, has made banks unwilling to hold government bonds in excess of their liquidity requirements
 "Government bond yields poised to rise as market reacts to RBI's rule change")
Hong Kong Monetary Authority enhances supervision of PNB's HK branch
This branch is also required to maintain a position of "net due to" its head office
 "Hong Kong Monetary Authority enhances supervision of PNB's HK branch")
India prepares well to face global volatility with strong forex reserve
According to the IMF, India's forex reserve of $430 bn, including forwards position, is good enough for both imports as well as covering short-term external debts
 "India prepares well to face global volatility with strong forex reserve")
RBI's tighter norms for working capital would increase NPAs: India Inc
RBI proposed that at least 40% of sanctioned working capital limit of a company should have a term loan component
 "RBI's tighter norms for working capital would increase NPAs: India Inc")
PNB board to consider ESOP scheme of up to 100 million equity shares
The government in March 2017 had allowed public sector banks to offer stock options to their employees, aimed at retaining experienced hands and better incentives
 "PNB board to consider ESOP scheme of up to 100 million equity shares")
Adjustment of Religare Finvest's deposits legal: Lakshmi Vilas Bank
Shares of Lakshmi Vilas Bank closed flat at Rs 117.45 on BSE
 "Adjustment of Religare Finvest's deposits legal: Lakshmi Vilas Bank")
Monetary policy: RBI rate hike will impact India Inc's capex, says CII
Many lenders had increased their lending rates prior to the policy review and after that, indicating a broader direction in which the rates are headed
 "Monetary policy: RBI rate hike will impact India Inc's capex, says CII")
RBI nominee should not be on the boards of PSBs, says Urjit patel
Patel on Tuesday appeared before the panel, whose members include former Prime Minister Manmohan Singh, to brief it on mounting non-performing assets (NPAs), recent frauds in banks, and other issues
 "RBI nominee should not be on the boards of PSBs, says Urjit patel")
SBI expects mobile banking transactions to grow to 33.6 billion in FY19
Only 20 per cent of the banking transactions are happening in the branches
 "SBI expects mobile banking transactions to grow to 33.6 billion in FY19")
Allahabad Bank branch in Hong Kong to face increased scrutiny from HKMA
Supervisory arrangements imposed by HKMA ask the branch to maintain a position of 'net due to' its head office, other branches and any direct or indirect subsidiaries and associates of the bank
 "Allahabad Bank branch in Hong Kong to face increased scrutiny from HKMA")
Bad bank = Bad idea: There's dubious merit in a rehab clinic for toxic debt
The whole point of having a bad bank is to discover and recover the steady-state economic value of assets that may be currently depressed
 "Bad bank = Bad idea: There's dubious merit in a rehab clinic for toxic debt")