Page 925 - Finance News
State Bank of India Q3 net profit jumps to Rs 2,610 cr, beats estimates
Standalone net profit, not including contributions from subsidiaries or associates, rose 134%
 "State Bank of India Q3 net profit jumps to Rs 2,610 cr, beats estimates")
SBI associate banks narrow losses to Rs 787 cr in Q3
Gross NPA rose marginally to Rs 52,890 cr at the end of Dec 2016 from Rs 51,380 cr in Sept 2016
New Bill soon to tackle bankruptcy in banks, NBFCs, mutual funds: Das
He says that the govt has undertaken very extensive consultations for the bill and it is ready
 "New Bill soon to tackle bankruptcy in banks, NBFCs, mutual funds: Das")
Country needs faster rate cuts from RBI: Arvind Virmani
He says that the MPC has been more concerned about global factors than domestic ones
 "Country needs faster rate cuts from RBI: Arvind Virmani")
Bank of India sees further improvement in bad loans in Dec quarter
State-run lender booked a net profit of Rs 1.02 bn in the three months ending in December
 "Bank of India sees further improvement in bad loans in Dec quarter")
NRI-led fintech startup starts online transaction platform in Singapore
It allows cheap transfer of funds to India; to expand transfers to Malaysia, Hong Kong, Australia
 "NRI-led fintech startup starts online transaction platform in Singapore")
Debit card breach: Hitachi owns up to systems being compromised in mid-2016
3.2 mn cards were affected by the breach, causing a scare over security of card-based transactions
 "Debit card breach: Hitachi owns up to systems being compromised in mid-2016")
Rates unchanged: RBI, banks differ on lending rate cuts
RBI sees much room and other bankers do not, giving various reasons
 "Rates unchanged: RBI, banks differ on lending rate cuts")
RBI policy: Rate pause season gets longer; Urjit Patel weighs risks
The repo rate was kept unchanged at 6.25%
 "RBI policy: Rate pause season gets longer; Urjit Patel weighs risks")
Withdrawal cap to go from March 13: RBI
From Feb 20, withdraw up to Rs 50,000 a week from your savings account
 "Withdrawal cap to go from March 13: RBI")
RBI to set up panel to strengthen security
There are around 750 million debit cards operational in India
 "RBI to set up panel to strengthen security")
There is scope for lending rates to come down further: RBI
After RBI's decision to hold interest rates, Urjit Patel and other deputy governors spoke to media
Monetary policy review: More downside risks for GVA growth
RBI's bi-monthly monetary policy unfolded few disappointments
 "Monetary policy review: More downside risks for GVA growth")
Respect RBI's credibility, PM tells Opposition
PM said his government has taken steps to preserve independence of RBI by constituting MPC
 "Respect RBI's credibility, PM tells Opposition")
Is Budget 2017's Rs 10,000-cr allocation to recapitalise PSU banks enough?
If steps to improve loan recovery succeed, then the allocation could suffice in the medium-term
 "Is Budget 2017's Rs 10,000-cr allocation to recapitalise PSU banks enough?")
RBI wants more time to tally old notes
RBI wouldn't divulge details about how much in demonetised currency had been deposited with banks
Operating profits of banks show improvement: RBI
Provisions for stressed loans adequate, says Mundra; monitoring to continue
 "Operating profits of banks show improvement: RBI")
PNB plans to sell non-core assets to shore up capital base
May look to sell stake in PNB Housing Finance, PNB Gilts; may not explore PNB MetLife at this point
 "PNB plans to sell non-core assets to shore up capital base")
'Bad bank' could help if designed right: RBI Deputy Governor Viral Acharya
Banks recorded stressed loans of $133 billion, or 12.34% of their total loans, as of last September
 "'Bad bank' could help if designed right: RBI Deputy Governor Viral Acharya")
MobiKwik in talks to raise funds, eyes $1 billion valuation: CEO
He adds that the company will likely see a new cash infusion in the next month
 "MobiKwik in talks to raise funds, eyes $1 billion valuation: CEO")