Page 901 - Finance News
Canara Bank posts Rs 214-cr Q4 profit on lower bad loan provisions
Net NPAs at 6.33% showed a slight decline as against 6.42% a year ago, says Rakesh Sharma
 "Canara Bank posts Rs 214-cr Q4 profit on lower bad loan provisions")
Worst is over for us in stressed assets: Rakesh Sharma
Canara Bank in the fourth quarter reported sequentially better numbers on asset quality
 "Worst is over for us in stressed assets: Rakesh Sharma")
Govt assessing recapitalisation needs of PSU banks
Govt allocated Rs 10k cr for current financial yr as against Rs 25k cr in last two financial yrs
 "Govt assessing recapitalisation needs of PSU banks")
Union Bank of India Q4 net rises 12.5% on Rs 420-cr tax write-back
However, its asset quality worsened leading to an over 50% spike in provisions
 "Union Bank of India Q4 net rises 12.5% on Rs 420-cr tax write-back")
RBI to ensure better NEFT service via additional 11 batches from July 10
With this, the total number of half hourly settlement batches during the day will increase to 23
 "RBI to ensure better NEFT service via additional 11 batches from July 10")
Canara Bank posts fourth-quarter profit on lower bad loan provisions
The bank reported a March quarter net profit of Rs 214 crore
 "Canara Bank posts fourth-quarter profit on lower bad loan provisions")
IFC to invest $40 mn in Aavas Financiers
Proceeds of proposed IFC's financing will be utilised by AFL for supporting affordable housing
 "IFC to invest $40 mn in Aavas Financiers")
SBI cuts affordable home loan rates to 8.35%; lowest in market
Under the new government scheme, loans under Rs 30 lakh qualify for affordable housing
Shareholders to elect four independent directors of SBI on June 15
Final date for submitting documents is May 24
 "Shareholders to elect four independent directors of SBI on June 15")
War on NPAs to speed up PSBs' capital raising via FPOs
SBI has already taken board approval for raising up to Rs 15,000 crore through various means
 "War on NPAs to speed up PSBs' capital raising via FPOs")
Bad debt situation not that grim, recovery hopes intact: SBI chief
Biggest challenges faced by regulators, she said, was how to ensure that resources are not wasted
 "Bad debt situation not that grim, recovery hopes intact: SBI chief")
Private retail banks put up good show
Spike in provisions likely to be short-lived and could reverse for IndusInd Bank and YES Bank
 "Private retail banks put up good show")
RBI cracks whip on banks not game for asset recast
Central bank modifies NPA resolution norms; to penalise banks for delays
 "RBI cracks whip on banks not game for asset recast")
Govt, RBI get cracking on bad loan problem
Ordinance gives RBI powers to deal with NPAs
 "Govt, RBI get cracking on bad loan problem")
New measures positive for PSU bank stocks
Incremental newsflow around NPA resolution will drive performance of PSU banks
 "New measures positive for PSU bank stocks")
Banks must adhere to timelines for corrective action plan: RBI
Decisions agreed upon by 50% of creditors by number in JLF is basis for deciding cap
 "Banks must adhere to timelines for corrective action plan: RBI")
Bank credit demand seen rising 7-8% in FY18, bond markets at 22%
Due to the pricing advantages in the year
 "Bank credit demand seen rising 7-8% in FY18, bond markets at 22%")
High NPAs impeding growth of factoring business: RBI official
Noting that despite the enactment of the Factoring Regulation Act in 2011
 "High NPAs impeding growth of factoring business: RBI official")
Auction of NPAs: Govt notifies banking law amendment to deal with bad loans
The ordinance enables RBI to direct banks to initiate bankruptcy proceedings of defaulting cos
Can blockchain, today's buzziest new tech tool, be controlled?
Blockchain is a secure digital ledger for any kind of data
 "Can blockchain, today's buzziest new tech tool, be controlled?")