Page 910 - Finance News
After merger with associates, SBI to prune cost-to-income ratio to 46%
Merged entity will have deposit base of more than Rs 26 lakh crore
 "After merger with associates, SBI to prune cost-to-income ratio to 46%")
Mahesh Jain is IDBI Bank's new CEO
Jain's focus areas: Retail loans, bad assets resolution
 "Mahesh Jain is IDBI Bank's new CEO")
B P Kanungo takes over as new RBI deputy governor
Earlier, he served as RBI's executive director
 "B P Kanungo takes over as new RBI deputy governor")
SBI hikes minimum balance for savings account; others may follow
Charges will also apply to customers of 5 erstwhile associates and Bharatiya Mahila Bank
 "SBI hikes minimum balance for savings account; others may follow")
Post merger, SBI sees no negative surprises on NPAs
Notedly, while SBI contained its bad loans in the Dec quarter, most of 5 associates saw same soaring
 "Post merger, SBI sees no negative surprises on NPAs")
ICICI Bank integrates net-banking service with DigiLocker
ICICI Bank is offering this service free of cost,
 "ICICI Bank integrates net-banking service with DigiLocker")
State Bank of India cuts base rate by 15 bps with effect from April 1
Marginal cost-based lending rate of the SBI remains unchanged
YES Bank's Rs 4,900-crore capital increase strengthens its buffer: Moody's
Yes Bank raised the money via a secondary offering
 "YES Bank's Rs 4,900-crore capital increase strengthens its buffer: Moody's")
RBI Governor Urjit Patel's basic pay jumps to Rs 2.5 lakh from Rs 90,000
Still, their salaries are much lower than the top executives of various banks regulated by the RBI
 "RBI Governor Urjit Patel's basic pay jumps to Rs 2.5 lakh from Rs 90,000")
NPAs biggest challenge facing economy; RBI needs to step in: Assocham
Stresses on quick resolution of stalled projects
 "NPAs biggest challenge facing economy; RBI needs to step in: Assocham")
SBI merger good first step; scope for more consolidation: NDB's Kamath
Kamath also underlined the need for a bad bank to deal with rising NPAs
 "SBI merger good first step; scope for more consolidation: NDB's Kamath")
India seeks $2 billion in loans from BRICS bank
NDB has signed its first agreement for providing a loan to finance district roads in Madhya Pradesh
 "India seeks $2 billion in loans from BRICS bank")
In 2 years of operation, NDB invests $1.5 billion in 7 projects
The NDB has begun working on the African regional centre to be completed by May this year
 "In 2 years of operation, NDB invests $1.5 billion in 7 projects")
Post-merger, SBI joins global league of top 50 banks
Total customer base of the bank is now expected to reach 370 mn with a branch network of 24,000
 "Post-merger, SBI joins global league of top 50 banks")
RBI increases FPI limits in govt bonds by Rs 170 billion for April-June
This takes total increase in investment caps for FPIs in g-secs up to Rs 2,310 bn from Rs 2,200 bn
Mr, Mrs, Mx or Misc? Banking giant HSBC introduces gender neutral titles
Favours people who don't identify as particular gender or who don't want to be identified by gender
 "Mr, Mrs, Mx or Misc? Banking giant HSBC introduces gender neutral titles")
Govt may merge two large banks, says Vinod Rai
However, govt wants to address bad debt problem before any such consolidation, he said
 "Govt may merge two large banks, says Vinod Rai")
Kotak Mahindra Bank to raise Rs 5,400 crore of equity
Funds to be deployed for consolidation opportunities and resolution of stressed assets
 "Kotak Mahindra Bank to raise Rs 5,400 crore of equity")
YES Bank share offering succeeds, 2nd time around
The Mumbai-based bank raised about $750 million through the sale of new shares at Rs 1,500 each
 "YES Bank share offering succeeds, 2nd time around")
Bank of Maharashtra accounts lost Rs 25 cr due to fraud through UPI: NPCI
Process of recovering the money from 19 banks is on
 "Bank of Maharashtra accounts lost Rs 25 cr due to fraud through UPI: NPCI")