Page 902 - Finance News
Open auction of NPAs: President clears ordinance to give more teeth to RBI
Ordinance will amend relevant Act to give RBI the right to issue directive in the interest of banks
 "Open auction of NPAs: President clears ordinance to give more teeth to RBI")
With Rs 6 lakh crore NPAs, banks may be asked to auction stressed assets
New framework, awaiting Presidential assent, wants cash-rich PSUs as buyers
 "With Rs 6 lakh crore NPAs, banks may be asked to auction stressed assets")
Bank of India to hire 702 managers
Closing date to submit an application form for officer and manager post is May 5, 2017
 "Bank of India to hire 702 managers")
SBI chairman says bad loan mess to resolve in 3 years
The 10-member Bankex index added 2.8% on Thursday and touched a record high
 "SBI chairman says bad loan mess to resolve in 3 years")
ICICI warns provisions may remain elevated
Bank expects overall credit growth to inch up to up to 16% in FY18
 "ICICI warns provisions may remain elevated")
ICICI Bank Q4 net soars 189% even as loan quality worsens
Gross NPAs at 7.89% vs 7.2% q-o-q; will issue one bonus share for every 10
 "ICICI Bank Q4 net soars 189% even as loan quality worsens")
Ordinance to tackle bad loans worth Rs 6 lakh crore cleared
Centre to handover three ITDC hotels to state governments; steel policy gets nod
 "Ordinance to tackle bad loans worth Rs 6 lakh crore cleared")
Despite automation, banking to see big rise in hiring
Every year, around 12,000-15,000 people are recruited in PSBs in both clerical and officer positions
 "Despite automation, banking to see big rise in hiring")
HSBC foreign acts case: Govt raises tax demand of Rs 5,419 cr
190 prosecution complaints have been filed against various entities
 "HSBC foreign acts case: Govt raises tax demand of Rs 5,419 cr")
RBI to hold key rate at June policy meet; may cut 25 bps in August: BofAML
Says growth remains weak, inflation is within 2-6% range, rate cut would help recoup forex reserves
Centre softens stance on i-banks for PSU mandate
Allows private placements of equity in rival firms; limits conflict clause to specific sub-sectors
 "Centre softens stance on i-banks for PSU mandate")
Bank wage talks begin; managements yet to make offer
Banking union sources said there was a meeting on 11th bipartite wage revision
 "Bank wage talks begin; managements yet to make offer")
23 ARCs snap up Rs 2.44 lakh crore bad loans from banks so far
Resource constraints at ARCs is also another prime reason for the dip in the sales
 "23 ARCs snap up Rs 2.44 lakh crore bad loans from banks so far")
Bharti Enterprises appoints Sam Ghosh as MD of financial services unit
Ghosh will build strategic business value proposition for the unit
 "Bharti Enterprises appoints Sam Ghosh as MD of financial services unit")
SBI cuts term deposit rates up to 50 bps
But no change in lending rates
 "SBI cuts term deposit rates up to 50 bps")
Tax reforms will make housing cheaper: HDFC's Deepak Parekh
Parekh said this has been one of the main promises made by Prime Minister Narendra Modi
 "Tax reforms will make housing cheaper: HDFC's Deepak Parekh")
ICICI makes 100 villages digitally-enabled; targets 500 more by 2017
FM Arun Jaitley inaugurated 100 ICICI digital villages in New Delhi
 "ICICI makes 100 villages digitally-enabled; targets 500 more by 2017")
Start-up funding falls 46% in Q1 of 2017
Here are the key takeaways from the report
 "Start-up funding falls 46% in Q1 of 2017")
Bandhan, IDFC chart divergent paths in banking
IDFC Bank has managed to reduce these stressed assets significantly
 "Bandhan, IDFC chart divergent paths in banking")
Bank accounts to be blocked: Full impact of FATCA to be known on Tuesday
This would only be after banks across the country commence functioning on May 2
 "Bank accounts to be blocked: Full impact of FATCA to be known on Tuesday")