Page 807 - Finance News
Education loan growth rate dips from 17% to 2%, NPAs jump from 5.5% to 7.5%
The education loan market is estimated to be Rs 733 billion
 "Education loan growth rate dips from 17% to 2%, NPAs jump from 5.5% to 7.5%")
Lack of liquidity forces banks to raise rates; RBI may maintain status quo
One reason why SBI had to raise rates so frequently is the rapid rise in bond yields
 "Lack of liquidity forces banks to raise rates; RBI may maintain status quo")
CBI registers three FIRs in Rs 7.43-bn NPA in IDBI Bank
There are a total of 41 others accused in these three separate FIRs, says CBI
 "CBI registers three FIRs in Rs 7.43-bn NPA in IDBI Bank")
ICICI Bank slapped with Rs 589-mn fine for selling bonds from HTM category
The banking regulator has imposed this fine of the lender for selling paper in the HTM category ahead of maturity, in violation of rules
 "ICICI Bank slapped with Rs 589-mn fine for selling bonds from HTM category")
Frauds cost Rs 181.7 bn to banking sector in FY17, says IiAS report
The report comes amid a string of banking frauds recently, including the Rs 14-billion PNB scam involving billionaire jeweller Nirav Modi and his uncle Mehul Choksi
 "Frauds cost Rs 181.7 bn to banking sector in FY17, says IiAS report")
PNB scam: ED seeks Interpol's help to locate Nirav Modi and his kin
The CBI in February also approached the Interpol with a request of issuing a Diffusion Notice against Modi to locate him
 "PNB scam: ED seeks Interpol's help to locate Nirav Modi and his kin")
Create special clearing window for govt accounts on Mar 31: RBI to banks
RBI said it is mandatory for all banks to participate in the special clearing operations and they should keep their inward clearing processing infrastructure open during the special clearing hours
 "Create special clearing window for govt accounts on Mar 31: RBI to banks")
Karnataka Bank reports Rs 865-mn fraud related to Gitanjali Gems to RBI
The scheduled commercial bank, however, clarified it does not have any Letter of Understanding (LoU) exposure in Choksi's company
 "Karnataka Bank reports Rs 865-mn fraud related to Gitanjali Gems to RBI")
Fake LoUs: PNB agrees to honour Rs 65 bn of other banks' pending claims
The decision came after the finance ministry's meeting on Tuesday with a few bankers, including those from Punjab National Bank, to break the stalemate between banks
 "Fake LoUs: PNB agrees to honour Rs 65 bn of other banks' pending claims")
RBI audit on Punjab National Bank found no lapse in three years, says govt
The Union government has questioned the role of the RBI on various occasions for failing to detect the PNB scam
 "RBI audit on Punjab National Bank found no lapse in three years, says govt")
IDBI Bank discloses Rs 7.72-bn fraud in Andhra, Telangana; shares fall 5.2%
The CBI has registered cases for two of the five complaints, relating to branches at Basheerbagh and Guntur
PSBs asked to get passport details for loans of Rs 500 mn and above: Govt
In cases, where the concerned person does not have passport, a certificate in the form of declaration that he does not possess passport should suffice in lieu of passport details
 "PSBs asked to get passport details for loans of Rs 500 mn and above: Govt")
SBI raises interest rates for fixed deposits across tenures after two years
Besides, on bulk deposits of more than Rs 100 million for a tenure of one year to two years, the bank raised the interest rate by 25 basis points to 7.00 per cent
 "SBI raises interest rates for fixed deposits across tenures after two years")
Public sector banks anticipate tough Q4 as RBI tightens NPA norms
RBI last month scrapped numerous loan restructuring programmes including Corporate Debt Restructuring, Sustainable Structuring of Stressed Assets or S4A, Strategic Debt Restructuring
 "Public sector banks anticipate tough Q4 as RBI tightens NPA norms")
Banking scam fallout: RBI may let PNB spread fraud losses over 1 year
Lender staring at losses on account of scam worth Rs 145 billion in 2017-18
 "Banking scam fallout: RBI may let PNB spread fraud losses over 1 year")
Bandhan Bank outpaces BoB, PNB on debut; stock gains 25% on issue price
The stellar show comes on the back of high demand for the bank's shares during its Rs 45-billion initial public offering (IPO)
 "Bandhan Bank outpaces BoB, PNB on debut; stock gains 25% on issue price")
Govt, RBI likely to increase FPI limit in long-term government securities
FPIs are currently capped at 5 per cent of the total outstanding government dated securities, and own 4.5 per cent
 "Govt, RBI likely to increase FPI limit in long-term government securities")
CBI books Hyderabad-based firm for defrauding SBI to the tune of Rs 650 mn
According to the SBI, the account became an NPA on April 30, 2014, and was subsequently declared as fraud and reported to the RBI in October 2016
 "CBI books Hyderabad-based firm for defrauding SBI to the tune of Rs 650 mn")
IDBI begins quality assurance audit to further align with 'best practices'
For this purpose, the bank has appointed an external expert who was very much associated with the audit reforms in the PSBs
RBI resumes dialogue with stakeholders to decide on next bi-monthly policy
The six-member Monetary Policy Committee (MPC), headed by RBI Governor Urjit Patel, is to meet on April 4 and 5 to decide the first bi-monthly monetary policy of the next fiscal