Page 974 - Finance News
Bank of Baroda Q1 net dives 60% to Rs 424 crore
Both gross and NPAs rose over two times as a percentage of advances during Q1 current fiscal
 "Bank of Baroda Q1 net dives 60% to Rs 424 crore")
RBI bought forex worth $3.8 bn in Apr-June
In its third bi-monthly policy review RBI said the pace of foreign direct investment inflows slowed in the first two months of 2016-17
 "RBI bought forex worth $3.8 bn in Apr-June")
Bigger NBFCs must be inspected regularly: Rajan
Says he has done 90-95% of what needs to be done
 "Bigger NBFCs must be inspected regularly: Rajan")
Higher commissions and markets push portfolio management products
The trend has gained currency in the aftermath of the capping of MF commissions
 "Higher commissions and markets push portfolio management products")
Bank of Baroda to recruit 400 probationary officers; applications invited by August 21, 2016
The bank, along with Manipal University, has crafted a specialized post-graduate course for banking aspirants. After successful completion of the PGDBF course, the candidates will be appointed as prob
 "Bank of Baroda to recruit 400 probationary officers; applications invited by August 21, 2016")
Syndicate Bank launches Project Ananya aimed at digital banking
The bank plans to transform 10 per cent of its branches to the new format in the next 6-12 months
 "Syndicate Bank launches Project Ananya aimed at digital banking")
RBI soaking foreign inflows to curb impact on rupee: Raghuram Rajan
Rajan also said the central bank would likely pay a record-high dividend to the government
 "RBI soaking foreign inflows to curb impact on rupee: Raghuram Rajan")
RBL to raise Rs 832 crore in fresh issue through IPO
The bank has already raised Rs 488 crore through a pre-IPO placement
 "RBL to raise Rs 832 crore in fresh issue through IPO")
Special team to investigate Tamil Nadu train robbery
Special teams in Chennai and Salem to look into the matter; cops currently quizzing current and ex-staff, coolies
 "Special team to investigate Tamil Nadu train robbery")
In his last policy, Rajan puts onus on banks
RBI keeps rates unchanged; ensures adequate liquidity in the system
 "In his last policy, Rajan puts onus on banks")
Comfortable with NPA clean-up and no need to relook at it: RBI
RBI had also conducted an asset quality review and had given banks a deadline to clean up their balance sheet by FY17
UCO Bank posts a net loss of Rs 440 cr
Its gross bad loan ratio widened to 17.19% as of end-June from 15.43% at end-March
 "UCO Bank posts a net loss of Rs 440 cr")
IOB posts Q1 net loss of Rs 1,451 cr
Gross NPA grow to 20.48% and net NPA to 13.97%
 "IOB posts Q1 net loss of Rs 1,451 cr")
Bankers says interest fall will fall when credit growth picks up
Raghuram Rajan blamed the bankers for holding onto higher rates even after the RBI lowering the same by 150 bps
Top 100 borrowers owe PSBs Rs 13.71 lakh crore
The wilful defaulters as a percentage of GNPAs as on March 2016 was 16.09%
 "Top 100 borrowers owe PSBs Rs 13.71 lakh crore")
Raghuram Rajan warns against fake e-mails promising money in RBI's name
Rajan said RBI does not give out money directly to ordinary citizens
Rajan keeps policy rate on hold at last RBI review
The decision had been expected after retail inflation rose to 5.77% in June, near the top of the RBI's 2-6% range, and above its target of 5% by March next year
 "Rajan keeps policy rate on hold at last RBI review")
 "Union Bank eyes Rs 1,200- cr recovery from small-size NPAs")
Small finance banks to woo depositors with better rates
Small savers are likely to gain from competitive rates expected to be offered by these banks
 "Small finance banks to woo depositors with better rates")