Page 801 - Finance News

Tracking Rs 2.7-trillion credit growth in last fortnight of FY18

The spurt in credit disbursed by the Indian banking system driven mostly by rise in corporate and industrial credit

ED finds 47 entities related to Nirav Modi doing Rs 60-bn 'round-tripping'

Out of these 47 entities, 10 are registered in Belgium, three in US, 13 in UAE, eight in Netherlands and rest in India

CRISIL reaffirms stable rating for ICICI Bank debt instruments

The rating agency said ICICI Bank's exposure to the Videocon group is 'in itself not material in the context of its outstanding loan book or capital'

IDBI Bank mulls buyback of $1-bn overseas bonds as part of turnaround plan

The buyback activity would be spread over quarters and would be done in small tranches for reasons of absorption

Despite bankers' plea, RBI is unlikely to change its new NPA norms

Banks have pleaded on the Feb 12 directive, tightening the leeway earlier given; however, the regulator seems unlikely to yield

Now PNB tightens norms to separate loan appraisal and monitoring teams

Recently, the bank has faced a multi-billion fraud related to the Nirav Modi and Gitanjali Diamonds group

Bank unions say time is ripe for nationalisation of private sector banks

Many private sector banks which are pampered by the government are in crisis, and ICICI Bank and Axis Bank are the examples, AIBOC General Secretary D T Franco said in a statement

Canara insurance arm may break even for the first time at end of this year

The company will break even for the first time at the end of this year, senior executives say

Sebi initiates probe into alleged corporate governance breaches at ICICI

Seeks info on recent board meetings, independent directors' stance and disclosure compliances in Videocon loan controversy

PNB scam: CBI questions 2 DGM-level officers of SBI's foreign branches

The $2 billion scam became public in January after the CBI registered an FIR in the matter, but by that time both the high-profile jewellers had left India with family

ICICI loan case: Dhoot's aide among two NuPower directors questioned by CBI

The NuPower director was asked about the help he extended to Videocon in securing the loan from the ICICI Bank

Indian banks need to improve risk management, governance practices: S&P

Axis Bank's risk management is seen as weaker than that of private sector peer HDFC Bank Ltd

Rs 130-bn PNB scam: Probe under way; more heads could roll, says CEO Mehta

The bank will soon finish integrating its CBS with SWIFT so this cannot happen again, PNB CEO Sunil Mehta said

What's behind surging bond yields and how it's upsetting govt's fiscal math

For current financial year, govt plans to borrow Rs 2.88 trillion in the first half of 2018-19, out of Rs 6.05 trillion planned for entire year

Axis Bank sells part of Echanda Urja loans to IREDA, Central Bank

With this, Axis Bank has reduced its exposure in Echanda Urja by Rs 2 billion to below Rs 3 billion

Nabard to raise Rs 400 bn in FY19 via bonds, says chairman Harsh Bhanwala

Nabard would look at the feasibility of tapping Masala bonds, which would need Reserve Bank of India's nod

ICICI case: Kochhar can take leave while probe is on, says ex Sebi chief

Damodaran was responding to queries on whether ICICI CEO Chanda Kochhar should be asked to step down

Crisis in banking system has led to slowdown of investment flow: IL&FS

Besides PNB, private sector lender ICICI Bank is also embroiled in a controversy over alleged conflict of interest involving its CEO Chanda Kochhar

Banks to get Rs 270-billion breather on RBI provisioning move: Crisil

Crisil in a report on Wednesday said banks profitability has come under intense pressure as provisioning requirements have been rising

PNB fraud: CBI court issues non-bailable warrant against Mehul Choksi

The CBI court had last week issued a non-bailable warrant against Nirav Modi