Page 991 - Finance News

Axis Bank forays into urban microfinance sector

Currently, urban microfinance contributes to 65 percent of the overall microfinance sector

Consolidation of banks in India risky, warns rating agency Moody's

State Bank of India in May had announced that it will merge with six banks, including five associate banks

Bank of Maharashtra raises Rs 500 cr via bonds

Shares of Bank of Maharashtra were trading 0.76% up at Rs 33 on BSE

Govt appoints N S Vishwanathan as new RBI deputy governor

According to TV reports, Vishwanathan will replace incumbent H R Khan

Public sector banks' consolidation presents more risks than benefits: Moody's

Barring significant government support to boost the banks' capitalization, the risks arising from the potential consolidation currently outweigh the potential longer-term benefits, Moody's said

Maharashtra remains the richest state: RBI report

Tamil Nadu's finances most stressed, with gross fiscal deficit estimated at Rs 31,830 crore

Oriental Bank of Commerce to raise Rs 1,000 cr via tier-II bonds

Icra cuts rating for UCO Bank's tier-II bonds

3 candidates interviewed for SBI MD's post

The interviews were held to replace VG Kannan, who is looks after associates and subsidiaries at the bank and retires on June 30

Developers agree with HDFC Chairman Deepak Parekh; PEs say they are best suited

Developers said if banks and housing finance companies are allowed to fund land buying it would reduce their cost of funding

Government bonds oversubscribed; FPIs bid worth $1.4 bn

It comes after government securities evoked lesser subscriptions from foreign investors in the last two auctions

Little-known truck maker gives Rs 1,800 cr grief to IDBI Bank-led group

Reluctant to let another NPA hurt them, the banks were ready to talk to anybody willing take over control of AMW Motors and repay the debt

India cuts RBI governor shortlist to four: Officials

Also, a new monetary policy committee will be chosen soon

Indian banking's 'weak underbelly' exposed: Uday Kotak

The Kotak Mahindra Bank chief also pitched for an 'exit mechanism' for the sector

Allow banks, HFCs to fund land deals: Parekh to RBI

HDFC Chairman Deepak Parekh also said in a sector like real estate where multiple approvals are required, embarking on a digital platform to grant approvals will be a game changer

With 31% jump, HDFC Bank's Aditya Puri top gainer in salary hike

Axis Bank's Shikha Sharma came in second, whose compensation package jumped 28% to Rs 5.50 crore

Bank of Baroda currently going through fundamental repositioning

Bank's chairman says plans are in place to create more agile and capable organisation with better controls and complliance

Transparency key in handling infrastructure projects: SBI's Arundhati Bhattacharya

Chairman says there is no dearth of capital to fund infrastructure development, but investments must be handled with 'transparency'

Bank mergers likely to happen after SBI consolidation, says finance ministry official

Banks can only make acquisitions when they have financial might which is subdued at the moment

Top-level talent crunch hits IDBI Bank

One Dy MD, three EDs to exit in 40 days; Another post of Dy MD vacant since Oct 2015, after M Rego moved to Bank of India as MD & CEO

Forex reserves touch life-time high of $363.8 bn

In the previous week, the reserves had declined $231 million to $363.2 billion