Page 990 - Finance News
Bank of Maharashtra to raise Rs1,000 crore capital
Over the next two years the bank would focus on cutting down its NPA, expand its portfolios in home loan, SME and priority sectors.
 "Bank of Maharashtra to raise Rs1,000 crore capital")
Sound financials place NBFCs to make best of credit demand
The aggregated balance sheet of NBFC sector expanded by 15.5% in March 2016. On the asset quality level also, performance improved with GNPAs declining to 4.6%
Decline in weak companies good for banks, says FM
The RBI report shows that the risks to the banking system have "worsened significantly," as companies may not be paying back loans fast enough
 "Decline in weak companies good for banks, says FM")
Axis Bank launches innovation lab to partner with fintech start-ups
These start-ups will mainly be focusing across lending, digital, payments and artificial intelligence space
 "Axis Bank launches innovation lab to partner with fintech start-ups")
7th Pay Commission: Credit growth to see marginal growth
The immediate benefit could be seen in loans for consumer durables and vehicles linked with demand for these items
 "7th Pay Commission: Credit growth to see marginal growth")
Dept of Posts to set up board to appoint CEO for postal payments bank
The board of the bank will comprise of 9 members, of which 5 will be independent members and the remaining four will be in-house representatives
ICRA downgrades outlook on Syndicate Bank's tier II bonds
However, the ratings agency affirmed the rating "AA+" for Basel -III compliant tier II bonds
 "ICRA downgrades outlook on Syndicate Bank's tier II bonds")
UCO Bank expects to return to profitability by FY18
Bank will not take any fresh exposure to large corporate firms under a new turnaround strategy
 "UCO Bank expects to return to profitability by FY18")
Stressed firms coming back on track: RBI
However, risks to the banking system remain
 "Stressed firms coming back on track: RBI")
MPC notified, inflation target not yet set
The targets will be notified separately by the government in consultation with RBI
 "MPC notified, inflation target not yet set")
Silver lining to AQR exercise: Bank valuation to get boost
AQR has resulted in unprecedented pressure on the profitability of some banks in the short term
 "Silver lining to AQR exercise: Bank valuation to get boost")
Debt MFs' exposure to downgraded-corporate bonds up 20 bps
Debt MFs' exposure up 4% in FY16; do enough homework on risk, RBI advises in Financial Stability Report
 "Debt MFs' exposure to downgraded-corporate bonds up 20 bps")
30 of 50 banks may not meet capital adequacy norms: RBI
Financial Stability Report says NBFCs perform better than banks
 "30 of 50 banks may not meet capital adequacy norms: RBI")
Raghuram Rajan went with majority on policy rate
Govt enforced a law for setting up a six-member panel likely to decide on interest rates at the next monetary policy
 "Raghuram Rajan went with majority on policy rate")
SBI to soon give detailed merger plan
It is expected that they should submit the detailed plan in the next few weeks as a dedicated team from SBI is working on this
 "SBI to soon give detailed merger plan")
United Bank gets shareholders' nod to raise Rs 1,000 crore
Bank expects a fund infusion of about Rs 500-600 cr from govt this financial year
 "United Bank gets shareholders' nod to raise Rs 1,000 crore")
Punjab National Bank cuts fixed deposit rates by up to 0.25%
The new rates would be effective July 1
 "Punjab National Bank cuts fixed deposit rates by up to 0.25%")
Axis Bank forays into urban microfinance sector
Currently, urban microfinance contributes to 65 percent of the overall microfinance sector
 "Axis Bank forays into urban microfinance sector")