Page 975 - Finance News
Vikram Pandit's India JV gets off to a flying start
Pandit's joint venture with JM Financial makes Rs 200-cr profit on Rs 520 cr revenues
 "Vikram Pandit's India JV gets off to a flying start")
On-tap bank licencing 'credit positive' for NBFCs: Moody's
It also cautioned that more bank licences would be 'credit negative' for existing banks
 "On-tap bank licencing 'credit positive' for NBFCs: Moody's")
RBI policy: Watch out for the sidelines
More than Tuesday's policy statement, the subsequent analysis could be the most important part of RBI Governor Raghuram Rajan's last policy review
 "RBI policy: Watch out for the sidelines")
Union Bank of India shares tumble after Q1 profit fall
Gross bad loans as a percentage of total loans rose to 10.16 per cent as of end-June from 8.7 per cent at end-March
 "Union Bank of India shares tumble after Q1 profit fall")
IDBI Bank to raise Rs 4,000 cr via tier II, infra bonds
Rating agency CRISIL has assigned "AA/Negative" rating for both instruments
 "IDBI Bank to raise Rs 4,000 cr via tier II, infra bonds")
ICICI Bank eyes 3 million transactions via e-toll plazas by March
The lender is also planning to issue 400,000 tags to motorists to allow them hassle-free passage through toll plazas on national highways
 "ICICI Bank eyes 3 million transactions via e-toll plazas by March")
Private banks take bigger hit on loan sales to ARCs
A closer look at these transactions reveals that private sector banks sold loans at much steeper discount rate to ARCs than public sector banks
 "Private banks take bigger hit on loan sales to ARCs")
UBI Q1 profit falls 68% to Rs 167 cr on high provisioning
Bank had reported a profit after tax of Rs 519 crore in the same period last year
 "UBI Q1 profit falls 68% to Rs 167 cr on high provisioning")
Andhra Bank Q1 net falls 84% to Rs 31 crore
Total income for the quarter grew 7.2% at Rs 4,855.50 crore
 "Andhra Bank Q1 net falls 84% to Rs 31 crore")
S&P downgrades ICICI Bank's standalone credit profile
The bank's asset quality will remain under pressure over the next 12 months
CARE downgrades Dhanlaxmi's hybrid Tier-II bonds to default
Downgrade follows the bank's fall in its capital adequacy ratio to 7.51 per cent
 "CARE downgrades Dhanlaxmi's hybrid Tier-II bonds to default")
Former governor Subbarao admits to 'inaction' for NPA mess
'NPA problem is getting bigger than any of us has thought it might be'
 "Former governor Subbarao admits to 'inaction' for NPA mess")
Former RBI Deputy Governor Anand Sinha joins IDFC Bank board
This comes after Vinod Rai, the former CAG chief, stepped down after serving on the board for a year
 "Former RBI Deputy Governor Anand Sinha joins IDFC Bank board")
Axis Bank ready with UPI app, to tie-up with Freecharge
According to the UPI's architecture, the bank's application, called Axis Pay App, can be used by any other bank's customer
 "Axis Bank ready with UPI app, to tie-up with Freecharge")
RBI sets up committee to look at household finances in India
The committee will benchmark the current depth of household financial markets in India vis-a-vis those in other major world markets
 "RBI sets up committee to look at household finances in India")
 "RBI launches website Sachet to tackle fraud")
Tackling bad loans first priority for PSBs: Rai
Bad loan recovery is absolutely on top of agenda so that lending process can start again, the Banks Board Bureau chief said
 "Tackling bad loans first priority for PSBs: Rai")
GST might push up banks' operating expenses
The effective tax rate for fee-based services of banks may rise from present 15% to 18%
 "GST might push up banks' operating expenses")
RBI launches 'Sachet' portal to check illegal money collection
The website would also help enhance coordination among regulators and state government agencies
RBI eases norms in cheque dishonour cases of Rs 1 cr and above
RBI said it reviewed these instructions and it will be now up to discretion of banks how to respond in such cases
 "RBI eases norms in cheque dishonour cases of Rs 1 cr and above")