Page 886 - Finance News
Banks tap hackathons for ideas to compete in digital world
SBI's Code For Banks was a month-long event with over 1,000 participating teams
 "Banks tap hackathons for ideas to compete in digital world")
UAE Exchange applies for universal bank licence
UAE Exchange is registered as an AD II category non-banking financial company in the country
 "UAE Exchange applies for universal bank licence")
50% provisioning reasonable for defaulted loans, says Viral Acharya
It is based on any historical recovery rates that banks secured debt have typically earned
 "50% provisioning reasonable for defaulted loans, says Viral Acharya")
Stressed banking sector, leveraged firms might drag down growth: RBI
Six-monthly report reviews macro economic conditions and the financial sector
 "Stressed banking sector, leveraged firms might drag down growth: RBI")
Growing investor interest in older private banks
Sustaining home ground growth, strengthening underwriting skills favour City Union, regional lenders
 "Growing investor interest in older private banks")
Efforts to revive bank yielding results: IOB chief
IOB on Thursday reported around 46% reduction in its net loss during H2FY17
 "Efforts to revive bank yielding results: IOB chief")
New SBI chief: Banks Board Bureau starts finding Bhattacharya's successor
Arundhati Bhattacharya will complete her four-year term as the chairperson on October 6
 "New SBI chief: Banks Board Bureau starts finding Bhattacharya's successor")
GRAPHIC: Banks are one of the biggest MF distributors in India
Banks due to their huge network of branches are preferred as MF distributors
 "GRAPHIC: Banks are one of the biggest MF distributors in India")
RBI panel to review Rs 10,000-cr debt soon
Most of these accounts are from the infrastructure, textiles and roads sectors
 "RBI panel to review Rs 10,000-cr debt soon")
Insolvency: No need for additional provisioning for 12 NPAs, says SBI chief
Total NPA provisioning of banks stood at Rs 2.2 trn as of FY17, up from Rs 2 trn in FY16
 "Insolvency: No need for additional provisioning for 12 NPAs, says SBI chief")
Govt makes fresh attempt to revive IDBI Bank
Reserve Bank of India last month put IDBI Bank under watch by initiating Prompt Corrective Action
 "Govt makes fresh attempt to revive IDBI Bank")
Banks appoint insolvency professionals for seven large accounts
Corporation Bank invited bids to fix insolvency professionals and gave the mandate to EY
 "Banks appoint insolvency professionals for seven large accounts")
New accounting standard may hit banks' lending to infra, realty firms
Switch to IndAS may increase debts on the books of firms
 "New accounting standard may hit banks' lending to infra, realty firms")
Banking stocks take a hit on provisioning worries
Provisioning towards bad loans may remain elevated for corporate banks, PSBs in FY18
 "Banking stocks take a hit on provisioning worries")
With demonetisation woes over, BofA-ML sees credit growing 15% this year
Credit growth had slipped to lowest level since Independence in FY17, falling to paltry 5.1 per cent, RBI
 "With demonetisation woes over, BofA-ML sees credit growing 15% this year")
I-T Dept slaps Rs 24,500-cr tax notice on PACL
Demand adds to the Rs 57,000-crore dues payable from company's assets on sale
 "I-T Dept slaps Rs 24,500-cr tax notice on PACL")
CAs, bankers in a rush to pass insolvency exam
Test on lines of IIT-JEE
 "CAs, bankers in a rush to pass insolvency exam")
Huge haircut needed on largest NPAs, says CRISIL
Estimates another Rs 40,000 cr provision needed for 12 a/cs sent for insolvency action by RBI
 "Huge haircut needed on largest NPAs, says CRISIL")
HDFC seeks shareholders' nod for Rs 85,000-cr fundraising
Funds to be raised through various debt instruments; AGM is scheduled to be held on July 26
 "HDFC seeks shareholders' nod for Rs 85,000-cr fundraising")
Record low credit growth: 1,000 cos borrowed Rs 1 lakh cr less in FY17
One-third of this massive contraction was led by just 10 companies