Page 915 - Finance News
Cabinet nod for merger of BMB with SBI likely in 3 months
Union Cabinet has already given in-principle approval to the merger of BMB with State Bank of India
 "Cabinet nod for merger of BMB with SBI likely in 3 months")
Govt asks 10 banks to cut staff benefits for capital
FinMin wants banks to get commitment from trade unions
 "Govt asks 10 banks to cut staff benefits for capital")
Govt, RBI plan to initiate criminal action against large wilful defaulters
PMO, FinMin, RBI also plan one-time settlement scheme for some sectors
 "Govt, RBI plan to initiate criminal action against large wilful defaulters")
SBI may introduce variable pay structure
Unions say it might be difficult for them to stop this move after merger
 "SBI may introduce variable pay structure")
Indian banking sector's stressed loans increase to $147.33 billion
As of end-September, the banks' total stressed loans were Rs 8.97 lakh crore
 "Indian banking sector's stressed loans increase to $147.33 billion")
Govt may shuffle heads of some PSU banks, including IDBI banks
Union Cabinet's Appointments Committee, headed by PM Modi, will take the final decision
 "Govt may shuffle heads of some PSU banks, including IDBI banks")
Kotak Mahindra Bank seeks nod to raise foreign investment limit
Seeks to increase ceiling to up to 49% of paid up capital
 "Kotak Mahindra Bank seeks nod to raise foreign investment limit")
Govt approves second tranche of capital infusion in PSU banks
Announced fund infusion of Rs 22,915 cr out of Rs 25,000 cr marked for 13 PSBs for current fiscal
 "Govt approves second tranche of capital infusion in PSU banks")
Repair rural household economy to sustain growth: Arundhati Bhattacharya
Agri sector need an added thrust to drive the economy as it has been hit by 2 bad monsoons
 "Repair rural household economy to sustain growth: Arundhati Bhattacharya")
Closed down airlines cause Rs 6,769 cr loss to govt banks
There are rising concerns over mounting bad loans in the banking system
 "Closed down airlines cause Rs 6,769 cr loss to govt banks")
Economists see no rate cut by RBI in 2017
Rate cuts in both India and US would squeeze the difference and could lead to an outflow
 "Economists see no rate cut by RBI in 2017")
Proposed debit card rate not lucrative, says PCI
PCI adds, further reduction in MDR will discourage future investments, affecting e-payments industry
 "Proposed debit card rate not lucrative, says PCI")
RBI's policy unlikely to be impacted by Fed rate hike
RBI is expected to stay put on repo rate in upcoming monetary policy because of rise in inflation
 "RBI's policy unlikely to be impacted by Fed rate hike")
HDFC Bank launches loan against shares in minutes: How it works
Ties up with NSDL for complete digitisation of loan mechanism
 "HDFC Bank launches loan against shares in minutes: How it works")
Deutsche Bank said to weigh sale of Indian retail biz
The bank is also considering selling retail operations in European countries, including Spain
 "Deutsche Bank said to weigh sale of Indian retail biz")
Farm loan waivers upset credit discipline: SBI chairman
BJP had promised to bring in a loan waiver scheme for farmers in the state, if it's voted to power
 "Farm loan waivers upset credit discipline: SBI chairman")
SBI to raise Rs 15,000 cr in FY18
SBI executive said nod from the board is an enabling provision
 "SBI to raise Rs 15,000 cr in FY18")
SBI to raise its stake to 74% in SBI Cards, GE Capital's arm
At present, SBI holds 60% stake in SBI Cards and Payments and will acquire another 14% stake
SBI approves plan to raise up to Rs 15,000 cr in capital
SBI also decided to inject Rs 1,160 cr into two credit card joint ventures companies
State-run banks' bad loans surge by Rs 1 lakh cr in Apr-Dec
Public sector banks' gross bad loans stood at Rs 5,02,068 crore at the end of 2015-16
 "State-run banks' bad loans surge by Rs 1 lakh cr in Apr-Dec")