Page 927 - Finance News
IDBI Bank reduces MCLR by 30-35 bps
This is the second reduction by the bank in the last two months after demonetisation
 "IDBI Bank reduces MCLR by 30-35 bps")
Competition brews in MFI sector, paving way for consolidation
Over-leveraging signs already there; consolidation likely as regular banks get into the segment
Capital infusion in PSU banks after Q3 numbers
FM in Budget speech on Feb 1 announced capital infusion of Rs 10,000 cr for the next fiscal
 "Capital infusion in PSU banks after Q3 numbers")
New AT1 rules double PSBs' debt servicing ability to Rs 2.3 lakh crore
Global rating agency Fitch welcomed the move, saying this will also help them raise domestic capital
 "New AT1 rules double PSBs' debt servicing ability to Rs 2.3 lakh crore")
RBI may hold rates this year after 25 bps cut next week: Nomura
Nomura expects both growth and inflation to accelerate, keeping the RBI on hold throughout 2017
 "RBI may hold rates this year after 25 bps cut next week: Nomura")
PSUs may go slow on new projects in FY18
Budget Estimates show 5% dip in resource generation
 "PSUs may go slow on new projects in FY18")
Jack Ma had struck Alibaba-Paytm deal last January
Alibaba president Evans to be on 7-member board, new-look platform by Diwali
 "Jack Ma had struck Alibaba-Paytm deal last January")
Services sector contracts for third month, PMI shows
A score above 50 denotes expansion and one below this level means contraction
 "Services sector contracts for third month, PMI shows")
'Bad bank' a possible solution for NPAs: Jaitley
The Economic Survey 2016-17 has suggested establishment of a 'bad bank' to deal with the NPA issue
 "'Bad bank' a possible solution for NPAs: Jaitley")
Gross NPAs of PSBs at 9.83% in FY16; rises to 11.82% by September 2016
Gross NPAs of private sector banks were just 2.70 per cent of gross advances during the FY16
 "Gross NPAs of PSBs at 9.83% in FY16; rises to 11.82% by September 2016")
Banks taking steps to upgrade ATM software, make them less vulnerable: Govt
Jaitley said RBI had also advised Scheduled Commercial Banks to implement systems to secure ATMs
 "Banks taking steps to upgrade ATM software, make them less vulnerable: Govt")
Small savings target difficult, but achievable
Govt in the present FY has in its kitty small savings of more than Rs 90,000 cr
 "Small savings target difficult, but achievable")
Realtors line up with projects
Buoyed by Budget, Tatas, Shapoorji Pallonji, Puravankara to launch more affordable housing projects
 "Realtors line up with projects")
Cheap housing push to boost micro finance in sector
MFI mostly serves people who work in informal sector and hail from middle- and low-income groups
 "Cheap housing push to boost micro finance in sector")
RBI issues draft guidelines on interest rate risk management
IRRBB refers to the current or prospective risk to a bank's capital and earnings
 "RBI issues draft guidelines on interest rate risk management")
Banks can use statutory reserves for AT1 bond coupon payment
The amendments are applicable with immediate effect, said RBI
 "Banks can use statutory reserves for AT1 bond coupon payment")
NRIs can now access exchanges for hedging
Currently, NRIs are permitted to hedge their currency risk through over-the-counter transactions
 "NRIs can now access exchanges for hedging")
Norms on commercial paper issuance eased
Commercial papers are short-term debt papers that mature within seven days to a year
Airtel Payments Bank opens over 100,000 savings accounts in UP in 2 weeks
Official says, about 60% of these accounts have been opened in rural areas
 "Airtel Payments Bank opens over 100,000 savings accounts in UP in 2 weeks")
Rs 10k cr 'highly insufficient' for recapitalising PSU banks: S&P
With softer interest rates, State-run banks are expected to raise money through additional bonds
 "Rs 10k cr 'highly insufficient' for recapitalising PSU banks: S&P")