Page 903 - Finance News
SBI cuts term deposit rates by up to 50 bps for amount below Rs 1 crore
The rates have been revised for medium and long term deposits and for amount below Rs 1 cr
 "SBI cuts term deposit rates by up to 50 bps for amount below Rs 1 crore")
After merger of 5 associates with SBI, Govt keen to consolidate more PSBs
Merger proposals in banking sector would require clearance from the Competition Commission of India
 "After merger of 5 associates with SBI, Govt keen to consolidate more PSBs")
PNB loans to get cheaper as bank cuts MCLR rates from May 1
Revised lending rate will be 8.35% for one-year credit, as against 8.45% currently
 "PNB loans to get cheaper as bank cuts MCLR rates from May 1")
Janalakshmi Financial Services to start small finance bank in Q2
The Bengaluru-based NBFC will open 300 branches during the year covering major locations in India
 "Janalakshmi Financial Services to start small finance bank in Q2")
Federal Bank Q4 zooms 25 times to Rs 257 cr
Net NPAs also declined to 1.28% in March 2017 from 1.64% a year ago
 "Federal Bank Q4 zooms 25 times to Rs 257 cr")
Kotak buys out Old Mutual's 26% stake for Rs 1,293 cr in insurance arm
With this transaction, Kotak Life will be fully owned by Kotak Mahindra Group
 "Kotak buys out Old Mutual's 26% stake for Rs 1,293 cr in insurance arm")
PE investments fall to 33-month low at $2.1 billion in Q1 2017
Only four investments were valued at and above $100 million in Q1, as against 7 deals a year ago
 "PE investments fall to 33-month low at $2.1 billion in Q1 2017")
Bandhan Bank Q4 profit rises 127%
Performance was on the back of healthy growth in its microfinance portfolio
 "Bandhan Bank Q4 profit rises 127%")
Kotak Mahindra Bank Q4 net profit up 33% at Rs 1,404 cr
Total income up at Rs 9,954 cr in Q4 from Rs 7,910 cr a year ago
 "Kotak Mahindra Bank Q4 net profit up 33% at Rs 1,404 cr")
RBI prescribes rules for chief risk officers in banks
The CRO will not have any reporting relationship with business verticals
 "RBI prescribes rules for chief risk officers in banks")
Bandhan Bank Q4 net more than doubles to Rs 323 crore
It reported net profit of Rs 1,111 cr for 2016-17 as against an annualised Rs 500 crore in 2015-16
 "Bandhan Bank Q4 net more than doubles to Rs 323 crore")
Paytm to pump in Rs 10,000 cr into banking, financial services
Airtel & India Post Payments Bank are the only ones to have begun payments bank operations so far
 "Paytm to pump in Rs 10,000 cr into banking, financial services")
Banks need more practical testing to stop cyber attacks: Report
59% of the banks are unable to detect breaches for several months
 "Banks need more practical testing to stop cyber attacks: Report")
Note ban fuels digital payments
Much to the surprise of critics, sectors such as petroleum saw twofold jump in digital transactions
 "Note ban fuels digital payments")
RBI issues new draft rules for M&As
The proposed regulations will be brought in under the FEMA rules of 1999
Bank credit demand inches up 5.5% in first fortnight of FY18
For the fortnight to April 14, bank credit stood at Rs 76.31 lakh crore
 "Bank credit demand inches up 5.5% in first fortnight of FY18")
Lakshmi Vilas Bank Q4 net up 6.29%
The net profit of the bank surged 42 per cent to Rs 256.07 crore
 "Lakshmi Vilas Bank Q4 net up 6.29%")
Axis Bank's stress eases, recovery some time away
The silver lining is that the 'non-watch list' slippages moderated in Q4
 "Axis Bank's stress eases, recovery some time away")
SBI Card slashes fuel surcharge to 1%
SBI Card is a joint venture between State Bank of India and GE Capital
 "SBI Card slashes fuel surcharge to 1%")
Retail loans soar 17.7% in 2016, NPAs also move up: Report
Official data pointed to a 64 year low in overall credit growth at paltry 5.1% for FY17
 "Retail loans soar 17.7% in 2016, NPAs also move up: Report")