Page 822 - Finance News
Corp Bank posts Rs 12.4-bn Q3 loss on higher NPAs; bad loan ratio at 15.92%
Sequentially, the net loss widened from Rs 10.35 billion in the second quarter (July-September) of 2017-18
 "Corp Bank posts Rs 12.4-bn Q3 loss on higher NPAs; bad loan ratio at 15.92%")
Indian Bank Q3 net down 19% to Rs 3 bn on higher operating expenses
Total income was up at Rs 49.03 billion from Rs 45.57 billion in the year-ago period
 "Indian Bank Q3 net down 19% to Rs 3 bn on higher operating expenses")
Bank of India posts Q3 loss of Rs 23.41 bn on bad-loan provisions spike
Provisions for bad loans jumped 72% to Rs 43.73 billion
 "Bank of India posts Q3 loss of Rs 23.41 bn on bad-loan provisions spike")
Worst-hit among PSBs, SBI wrote off Rs 203 bn in bad loans in FY17
In the current financial year, PSBs have written off loans worth Rs 536.25 billion in the six months to September
Earnings improve, but not yet in high gear; India Inc net up 10.6% in Q3
Information technology services and pharma, India's two biggest exporting sectors, continue to face headwinds
 "Earnings improve, but not yet in high gear; India Inc net up 10.6% in Q3")
Bank haircuts on NPAs go up to 80%; 9 of 12 firms enter bidding stage
The least loss is likely to be in case of Bhushan Steel, for which JSW Steel has offered Rs 280 bn of cash and equity worth Rs 17 bn to banks
 "Bank haircuts on NPAs go up to 80%; 9 of 12 firms enter bidding stage")
RBI to get another liquidity management tool in standing deposit scheme
There is no more market stabilisation scheme, says Economic Affairs Secretary S C Garg
 "RBI to get another liquidity management tool in standing deposit scheme")
15 months after note ban, RBI still processing 'genuine' returned notes
Asked to provide the details of deadline for finishing the counting of demonetised notes, the RBI said "specified bank notes are being processed in an expedited manner"
 "15 months after note ban, RBI still processing 'genuine' returned notes")
Banks opposed to changes in MCLR calculation: Reserve Bank of India
The banks proposed, that more "ideal benchmark could be constructed based on deposit rates of the banking system as a whole".
 "Banks opposed to changes in MCLR calculation: Reserve Bank of India")
India Post Payments Bank to enable digital payment by April: Official
IPPB is also expected to enable more than 17 crore active account-holders of post office savings bank to make interoperable digital payments, including the benefit of NEFT, RTGS, UPI and bill payment
 "India Post Payments Bank to enable digital payment by April: Official")
RBI conducts last bond auction before current financial year ends
Since the government borrowed through floaters, the interest rate is likely to rise in the near term
 "RBI conducts last bond auction before current financial year ends")
RBI status quo on key rate indicates growth will pick up, says FinMin
"The government welcomes the MPC's assessment and notes its decision to maintain the policy rate," he said
Bank of Baroda Q3 net drops 55% as provisions for bad loans nearly double
Gross bad loans as a percentage of total loans stood at 11.31% at December-end, compared with 11.16% in the previous quarter and 11.4% a year ago
 "Bank of Baroda Q3 net drops 55% as provisions for bad loans nearly double")
SBI posts Rs 24.16 billion quarterly loss for first time in nearly 19 years
Loss mainly due to RBI-mandated reclassification of corporate loans
 "SBI posts Rs 24.16 billion quarterly loss for first time in nearly 19 years")
UCO Bank Q3 net loss widens to Rs 10.16 bn as gross NPAs rise to 20%
Total income of the bank also fell to Rs 37.21 billion from Rs 48.64 billion in the same period a year ago
 "UCO Bank Q3 net loss widens to Rs 10.16 bn as gross NPAs rise to 20%")
Central Bank Q3 net loss widens to Rs 16.6 bn as provisions for NPAs double
The provisioning for bad loans and contingencies was at Rs 34.27 billion during the quarter
 "Central Bank Q3 net loss widens to Rs 16.6 bn as provisions for NPAs double")
SBI swings into the red in Q3 at Rs 24.16 bn; NPAs rise 84% to Rs 2 trn
The bank reported a rise in gross NPAs at 10.35% as against 9.83% in the previous quarter ended September.
Fintech Will Change How We Bank
We expect fintech companies playing a significant role in shaking the earning foundation of big banks, as they are significantly reducing costs for consumers
 "Fintech Will Change How We Bank")
Moody's ups outlook on IOB and Central Bank to positive from stable
Expects moderate improvement in profitability and asset quality stabilisation
 "Moody's ups outlook on IOB and Central Bank to positive from stable")