Page 956 - Finance News

UBI receives Rs 608 crore capital infusion from govt

This is part of the government's plan to infuse Rs 5,050 crore in public sector banks

Govt tells banks to focus on cash recovery

At present, much of their loan recovery happens in written-off accounts

Gold bond issue date shifted to Sep 30

The amount realised through the fifth tranche of the SGB scheme is expected to cross Rs 820 cr

Bharat Financial Inclusion launches up to $113 million share sale

Ahead of the announcement, Bharat Financial Inclusion shares closed 4.3% higher at 812.30 rupees

Department of Posts invites applications for payments bank CEO position

The applicant is expected to have a minimum of 15 years of experience in financial services

Magma Fincorp targets 15% growth in Uttar Pradesh

The Kolkata-based NBFC will focus on tractor finance, housing finance and used vehicle loans to fuel its growth

HDFC Bank raises Rs 6,700 cr via bonds

It said that a total of 67,000 bonds were issued with face value of Rs 10 lakh each

Trade deficit lowers first quarter CAD

Contraction due to lower trade deficit; balance of payments stays positive

With govt stake set to touch 89%, UBI strives for equity dilution

Bank is now faced with the task of reducing a large chunk of government shareholding

Clicking for money

Kotak Mahindra launches app to open accounts

For the first time a domestic lender has come up with such facility where a customer can open a bank account using its application

Moody's flags bad loan concerns at Finance Ministry meeting

India's sovereign rating by Moody's stands at 'Baa3', the lowest investment grade, just a notch above 'junk' status

ADB to loan $631 mn to first coastal corridor

The loan includes $500 mn for financing infrastructure and a $125 million component to help policy interventions by the government

Pay Commission effect: Banks sweeten car loan terms for govt employees

Banks have rolled out car financing schemes including up to 100% financing, lower interest rates and processing charges

Bangladesh's Junaid Ahmad new World Bank head in India

Ahmad was Chief of Staff to the World Bank Group President Jim Yong Kim before being elevated to the current position

Banks want promoters' guarantee for new loans

Stressed assets sale stalled as bidders refused to give such guarantees

Asset quality cycle of banks to improve, says Moody's

Stable system outlook driven by five factors, including operating environment and government support

Further easing of deposit rates in the offing for SBI

Scope for two IFSCs in India, says Arundhati Bhattacharya

OBC raises Rs 1,000 cr via Basel III-compliant bond allocation

Issue of Basel III-compliant additional tier 1 bonds (private placement) was opened on September 16, 2016, for one day

Mundra downplays money deposit issue on zero-balance a/cs

The RBI Deputy Governor termed banks depositing money to reduce the number of accounts with zero balances as not a criminal act