Page 979 - Finance News
Bankers must push for creating more demand: SBI's Bhattacharya
Key takeaways from SBI chairman's interview to The Financial Express
 "Bankers must push for creating more demand: SBI's Bhattacharya")
Banking complaints up 35% in AP, Telangana in FY16
SBI continued to account for largest share with 26.2%, share of its associate banks was 9%
 "Banking complaints up 35% in AP, Telangana in FY16")
IOB, Central Bank to benefit from capital infusion: Moody's
Shares of Central Bank jumped 3.08% to Rs 100.55, while IOB gained 0.18% to Rs 27.20 on BSE
 "IOB, Central Bank to benefit from capital infusion: Moody's")
RBI imposes penalty of Rs 5 crore on Bank of Baroda
The observation came as part of inspection done by the central bank after last year's case in which Rs 6,100-crore scam
 "RBI imposes penalty of Rs 5 crore on Bank of Baroda")
StatsGuru: Tackling the NPA problem in public sector banks
Financial position of India's public sector bankshas deteriorated sharply over the past financial year
 "StatsGuru: Tackling the NPA problem in public sector banks")
High bad debts under Mudra a myth, says govt
An internal note of the government on Mudra loans has said that loans given under the scheme through MFIs have high rates of recovery
 "High bad debts under Mudra a myth, says govt")
IndoStar Capital to launch housing finance arm soon
Proposed home finance arm will focus on small-ticket lending to self-employed people, which is a large untapped market
Federal profit up 18%
To Rs 167.3 crore in the April-June quarter aided by higher other income growth
 "Federal profit up 18%")
Union Bank foils cyber attack in USD Nostro a/c, no loss
The bank said that a cyber security forensic audit has been initiated to identify, plug any gaps & strengthen the system
 "Union Bank foils cyber attack in USD Nostro a/c, no loss")
Bharat Financial shares surge 10% on 4-fold jump in profits
During the first quarter of current FY, the company saw a 53% jump in total income at Rs 368.95 crore compared to the same period year-ago
 "Bharat Financial shares surge 10% on 4-fold jump in profits")
Axis Bank Q1 profit dips 21% at Rs 1,556 crore
On account of rise in bad loans
 "Axis Bank Q1 profit dips 21% at Rs 1,556 crore")
SBI associates' staff will not be affected by merger: FM
Govt has sanctioned the proposal of SBI to enter into negotiations with its subsidiary banks
 "SBI associates' staff will not be affected by merger: FM")
Govt asks RBI to provide low interest-rate loans to EXIM Bank
Santosh Kumar Gangwar said an amount of Rs 1,300 crore was released to Exim Bank by the government in 2015-16 as capital
 "Govt asks RBI to provide low interest-rate loans to EXIM Bank")
Financial frauds are sore point for foreign investors: Study
Needs to checked by a global standard regulatory framework coupled with the companies' in-house mechanisms
 "Financial frauds are sore point for foreign investors: Study")
Vijaya Bank Q1 net up 13% at Rs 162 cr
Net NPAs stood at 5.42% of the net advances almost double from a year ago period
 "Vijaya Bank Q1 net up 13% at Rs 162 cr")
PSBs capital needs significantly higher than budgeted: Moody's
The govt had said it will infuse Rs 70,000 cr into state banks while they have to raise a Rs 1.1 lakh cr to meet requirements
 "PSBs capital needs significantly higher than budgeted: Moody's")
Sebi may help in government's recapitalisation plans for PSBs
It has infused Rs 22,915 cr capital in 13 lenders to revive loan growth that hit a two-decade low, help them shore up capital base
 "Sebi may help in government's recapitalisation plans for PSBs")
India's old nemesis inflation is back on the prowl
Inflation is threatening to breach the RBI target, it will give a harsh welcome to its new chief
 "India's old nemesis inflation is back on the prowl")
Kotak Mahindra Bank to raise Rs 5,000 crore via bonds
Bank also reported almost fourfold jump in net profit to Rs 741 crore in the June quarter
 "Kotak Mahindra Bank to raise Rs 5,000 crore via bonds")