Page 795 - Finance News

Federal Bank approves to sell 26% stake in subsidiary to True North

The investment will help FedBank Financial Services Limited augment its capital base primarily to support its growing asset business and to grow its branch network

RBI's net buying of dollar from spot market declines in March to $996 mn

In the forward dollar market, the outstanding net forward purchase at the end of March was $20.85 billion

RBI tells Dena Bank to stop lending, puts it under prompt corrective action

The bank's loss widened from Rs 3.8 billion in December quarter of 2017-18

Fresh lending dries up at Dena Bank; Q4 net loss widens to Rs 12.25 bn

Dena Bank, in a filing with the BSE, said the RBI had restricted it from assuming a fresh credit exposure and recruiting

DFS to approach revenue dept, opposing GST on 'free services' by banks

Revenue department officials argue that banks are not offering 'free services' but actually charging customers by asking them to maintain a minimum account balance

Gems and jewellery sector risky, says State Bank of India

The cost of borrowing for the industry has gone up in the last few months which in nothing but direct risk-and-reward relationship at which banks do the pricing

Provisioning woes take toll on 4 PSBs; Canara, Dena, United banks in red

Following the RBI's new rules for restructuring of such assets, all banks had to change the status of some of their standard stressed assets, classifying these as NPAs in the quarter

Bureaucrat Lok Ranjan to continue on board of ICICI Bank: DFS Secretary

The government transferred Ranjan, joint secretary in Department of Financial Services (DFS) to Department of Personnel and Training (DOPT) on Thursday

Banks post huge fall in Q4 net numbers as RBI scraps restructuring schemes

No more soft pedalling, says apex bank, as it compels lenders to refer bad loans to IBC if account isn't restructured in six months

Banks to call for special UK visa waiver for workers after Brexit: sources

The industry is demanding a new arrangement where international staff posted to Britain for less than six months will be able to come and go freely without having to apply for a work visa

RBI regulations create roadblocks for peer-to-peer lending companies

The RBI mandates that an investor can lend up to Rs 1 million across all P2P lending platforms

Banks are designing a scheme for bailing out stressed power assets

The power ministry had asked the RBI to provide a breather to the power sector in the IBC guidelines

HDFC Bank to start search for CEO Aditya Puri's successor next year

The successor will be announced by October 2019

Union Bank posts consecutive quarterly net loss at Rs 25.6 billion

The loss comes on the back of higher slippage in asset quality, which for Q4 stood at Rs 100.4 billion

15th Finance Commission to meet advisory council on May 17

Sources said the council might be asked to do research and study on terms of reference

Reserve Bank of India adds 2.5 tonnes of gold to forex reserves in Q4

This was the first instance of gold being added to the forex reserves since 2009

Indian Bank Q4 profit drops 59% to Rs 1.3 bn on higher NPA provisioning

Lender takes 41 accounts to NCLT, hopes to recover Rs 20 billion

GST likely on banks 'free' services as they are actually 'charging' clients

Notices under older tax regime likely to be withdrawn but officials say levy's rationale remains as before

Nestle India Q1 profit rises 36% at Rs 4.24 billion

The company, which follows January-December financial year, had posted a profit of Rs 3.11 billion in the same period a year ago, Nestle India said in a BSE filing.

Indian Bank Q4 net profit slumps 59% to Rs 1.32 bn on higher NPAs

In absolute terms, gross NPAs were at Rs 119.90 bn, up from Rs 98.65 bn in the year-ago period