Page 895 - Finance News
Yet to gauge GST impact on inflation, RBI unlikely to tweak rates on June 7
6 member Monetary Policy Committee meets on June 6, 7 for 2nd Bi-monthly Monetary Policy Statement
Axis Bank bets on Aadhar, mobile apps to expand digital transactions
Digital currently makes up 70% of bank's overall transactions; branch banking makes up 12%
 "Axis Bank bets on Aadhar, mobile apps to expand digital transactions")
HSBC's India retail head Bharadhwaj quits, successor yet to be named
Exact reasons behind Gannesh Bhardwaj's resignation were not immediately known
Rising NPAs put Dena Bank under corrective action plan
The bank would share a turnaround strategy plan with the govt for infusion of additional capital
 "Rising NPAs put Dena Bank under corrective action plan")
ICAI proposes joint audit for private banks
YES, Axis, ICICI recently reported NPA figures for FY16 that were in variance of RBI's estimations
 "ICAI proposes joint audit for private banks")
SBI share sale probably to qualified investors: Arundhati Bhattacharya
SBI has shortlisted six banks to manage the sale that could be worth up to $2.3 billion
 "SBI share sale probably to qualified investors: Arundhati Bhattacharya")
Before monetary policy review, Urjit Patel calls on Arun Jaitley
Resolution of MPC will be placed on website in afternoon of June 7, says RBI
 "Before monetary policy review, Urjit Patel calls on Arun Jaitley")
RBI initiates 'prompt corrective action' for Dena Bank over bad loans
Dena Bank's losses widened in the March quarter as net bad loans increased to 10.66 per cent
 "RBI initiates 'prompt corrective action' for Dena Bank over bad loans")
SBI clears 100 Mw solar projects worth Rs 400 cr under World Bank programme
It'll be a significant step towards meeting govt's target of 40 Gw of rooftop solar installations
 "SBI clears 100 Mw solar projects worth Rs 400 cr under World Bank programme")
Claim settlement for ECGC down 21% at Rs 885 cr in FY17
Company reports net profit of Rs 282 cr
 "Claim settlement for ECGC down 21% at Rs 885 cr in FY17")
Waive promoters' personal guarantee under S4A Plan: Banks to RBI
Current guidelines don't allow lenders to grant fresh moratorium granted on interest repayment
 "Waive promoters' personal guarantee under S4A Plan: Banks to RBI")
RBI likely to keep interest rates unchanged at review on June 7: Poll
Expected reverse repo rate to be at 6% this time, after a surprise 25 basis point increase in April
 "RBI likely to keep interest rates unchanged at review on June 7: Poll")
PSBs oppose stake dilution via ETF
Lenders wary of the move as they see it clashing with fund-raising plans
 "PSBs oppose stake dilution via ETF")
High service charges, mis-selling of insurance products under RBI scanner
While banks had granted autonomy to fix minimum average balance or charge for premium services
FinMin officials may meet RBI rate panel next week
Only Chief Economic Advisor Arvind Subramanian is currently available to hold these meetings
Lenders discuss NPA resolution with RBI
While there is a sense of urgency, but it's too early to set timelines for the resolution
 "Lenders discuss NPA resolution with RBI")
Wall Street opens slightly lower as investors digest data
US consumer spending recorded its biggest increase in 4 months in April,monthly inflation rebounded
 "Wall Street opens slightly lower as investors digest data")
Some banks use service charges to drive away customers: RBI Deputy Governor
Banks introduced charges on non-maintenance of minimum balance for using banking-related facilities
RBI panel to keep repo rate unchanged in June, say bankers
Outlook likely to be less hawkish; monsoon & GST roll-out to decide course of action
Fitch downgrades IDBI Bank's rating on deteriorating finances in 2 years
Bank's non-performing loans increased by 80% in FY17
 "Fitch downgrades IDBI Bank's rating on deteriorating finances in 2 years")