Page 874 - Finance News
Indian Overseas Bank Q1 net loss narrows to Rs 499 cr
Total income has declined 11.8% during the quarter to Rs 5,174.50 cr
 "Indian Overseas Bank Q1 net loss narrows to Rs 499 cr")
ArcelorMittal may bid for stressed steel assets
Sources indicated that it may be interested in Bhushan Steel or Essar Steel, depending on valuation
 "ArcelorMittal may bid for stressed steel assets")
Union Bank of India Q1 net dives 30% at Rs 117 crore, bad loans rise
Net profit fell to Rs 117 crore for the three months ended June 30, from Rs 166 crore a year ago
 "Union Bank of India Q1 net dives 30% at Rs 117 crore, bad loans rise")
RBI may need to drain Rs 1.4 lakh cr as inflows add to excess liquidity
Strong foreign investment inflows have sent the rupee up nearly 7% against the dollar
 "RBI may need to drain Rs 1.4 lakh cr as inflows add to excess liquidity")
Bank of India back in black in Q1 at Rs 88 cr on better asset quality
The other income comprising treasury revenues, fees and commissions rose 30% to Rs 1,610 cr
 "Bank of India back in black in Q1 at Rs 88 cr on better asset quality")
Govt to initiate PSBs' consolidation process after Q1 results
While taking a merger decision, financial performance needs to be considered
 "Govt to initiate PSBs' consolidation process after Q1 results")
City Union Bank Q1 net up 14% at Rs 140 cr
The total income of the bank rose to Rs 960.86 cr from Rs 883.30 cr
 "City Union Bank Q1 net up 14% at Rs 140 cr")
Union Bank of India set to raise Rs 2,000 crore
The PSB stock closed 0.53% down at Rs 141.75 on the BSE
Bank of India swings from loss to profit in Q1, bad loans fall
The Mumbai-based bank net profit was Rs 87.71 crore in the quarter ended June 30
Axis Bank cuts savings bank deposits rate to 3.5% on deposits below Rs 50 lakh
Bank to continue to pay 4% interest on deposits of above Rs 50 lakh
 "Axis Bank cuts savings bank deposits rate to 3.5% on deposits below Rs 50 lakh")
Electronic payments in August rise in volume but dip in value
Indicates people may have started using electronic modes for smaller value transactions as well
 "Electronic payments in August rise in volume but dip in value")
HDFC Bank looks at refinancing to build corporate loan book
Term loans constitute about 30% of its corporate banking book, which grew by over 20%
 "HDFC Bank looks at refinancing to build corporate loan book")
PNB puts 9 large stressed accounts under IBC resolution
The lender said there is a trend of declining stress on its balance sheet
 "PNB puts 9 large stressed accounts under IBC resolution")
Axis Bank cuts interest rate by 50 bps to 3.5% on deposits up to Rs 50 lakh
Axis Bank shares closed at Rs 499.30 apiece on BSE, down 1.32 per cent
NCLT reserves order in Era Infra case over pending petitions in Delhi HC
Era is one of the 12 NPA accounts that the RBI has directed should be referred to the NCLT
 "NCLT reserves order in Era Infra case over pending petitions in Delhi HC")
One mn bank staff to go on strike on August 22 over privatisation, mergers
UFBU strike call also due to write-off of corporate NPAs, criminalisation of willful default
 "One mn bank staff to go on strike on August 22 over privatisation, mergers")
Bank of India to raise up to Rs 626 crore via STCIF stake sale
The bank has called a pre-bid meeting on August 14 and the final bids are to be sent in by 3 pm on
 "Bank of India to raise up to Rs 626 crore via STCIF stake sale")
PSU banks wrote off Rs 2.49 lakh cr of loans in 5 years: Finance ministry
The gross NPA of public sector banks was 12.47 per cent of gross advances as on March 31, 2017
 "PSU banks wrote off Rs 2.49 lakh cr of loans in 5 years: Finance ministry")
Lenders take stock of progress in NCLT cases
Focus on plugging gaps, improving coordination, keeping timelines
 "Lenders take stock of progress in NCLT cases")
Rupee rise can scupper manufacturing, export push: DBS
It said there are positives from a stronger currency, like it being positive for inflation
 "Rupee rise can scupper manufacturing, export push: DBS")