Page 894 - Finance News
HDFC Bank, SBI to start charging for P2P payments on UPI
SBI is charging Rs 5 per transaction of up to Rs 1 lakh, Rs 15 for transactions between Rs 1-2 lakh
 "HDFC Bank, SBI to start charging for P2P payments on UPI")
Canara Bank cuts MCLR by 0.05% for various maturities from today
For overnight, MCLR to be 8.10%, while for 1- and 3-month maturities it will be 8.15% and 8.20%
 "Canara Bank cuts MCLR by 0.05% for various maturities from today")
HDFC to issue Rs 2,000-cr bonds from Thursday
Move to intended to augment long-term capital
 "HDFC to issue Rs 2,000-cr bonds from Thursday")
MPC meet headed by Urjit Patel begins; RBI may hold policy rate
India Inc is pitching for a rate cut to boost GDP growth that fell to 7.1% in FY17 from 8% in FY16
 "MPC meet headed by Urjit Patel begins; RBI may hold policy rate")
Merger by region may help consolidation of PSU banks
If done methodically, it could provide a natural hedge against asset quality issues in the long run
 "Merger by region may help consolidation of PSU banks")
SBI to organise farmers' meet on June 8 to understand their credit need
Meeting will be organised at the bank's 15,500 rural and semi-urban branches across India
 "SBI to organise farmers' meet on June 8 to understand their credit need")
RBI expected to be less hawkish, may leave interest rates unchanged
RBI to look at monsoon distribution, the impact of GST and pay hike
 "RBI expected to be less hawkish, may leave interest rates unchanged")
Prompt corrective action not aimed at causing inconvenience to public: RBI
Statement follows rumours alleging restrictive actions would be imposed on few weak banks
 "Prompt corrective action not aimed at causing inconvenience to public: RBI")
Govt to go ahead with PSU bank merger without further wait: FM
Currently, there are 21 PSU banks in the country, including State Bank of India
 "Govt to go ahead with PSU bank merger without further wait: FM")
SBI flags off QIP to raise Rs 11,000 crore
This is part of the plan to mop up Rs 15,000 crore from the markets in the current fiscal year
 "SBI flags off QIP to raise Rs 11,000 crore")
ICICI Bank to sell part of its stake in ICICI Lombard via IPO
The bank said that the IPO size and other details of the offer would be determined in due course
 "ICICI Bank to sell part of its stake in ICICI Lombard via IPO")
Jaitley makes case for rate cut; experts say RBI may wait for GST roll-out
FM said inflation has been under control for long and is likely to remain so due to good monsoon
 "Jaitley makes case for rate cut; experts say RBI may wait for GST roll-out")
SBI issues QIP to raise Rs 11,000 crore
The bank is selling new shares in a price range of Rs 275.76-Rs 287.25 a share
FinMin should be able to infuse $27 bn into PSBs by 2019: BofAML
The report said NPL flow can be arrested only by cutting lending rates to spur recovery
 "FinMin should be able to infuse $27 bn into PSBs by 2019: BofAML")
SBI user? Pay more for online, ATM withdrawals after 4 transactions a month
The charges come with modifications in all types of online transaction modes
 "SBI user? Pay more for online, ATM withdrawals after 4 transactions a month")
RBI may take a more balanced stance in June
Core CPI has softened materially to less than 4.5%
Bank union urges PM Modi to fill director vacancies on boards
AIBEA said these posts have fallen vacant from 2014, 2015 and 2016, and still remain vacant
 "Bank union urges PM Modi to fill director vacancies on boards")
BoI may sell stake in subsidiaries to raise capital to deal with bad loans
The bank's gross NPAs were restricted to 13.22% of the gross advances at the end of March 2017
 "BoI may sell stake in subsidiaries to raise capital to deal with bad loans")
PSBs plan to raise Rs 58,000 crore from capital markets in FY18
Raising funds from the market will ease the pressure on the exchequer of pumping in capital
RBI monetary policy, macro data, monsoon to influence markets this week
Over the past week, the benchmark Sensex rose by 245 points to end at 31,273.29.