Page 23 - Banking Industry
State Bank of India to cut base rate by 5 bps to 7.45%, also reduce PLR
Also, it has cut its prime lending rate by 5 bps to 12.20 per cent
 "State Bank of India to cut base rate by 5 bps to 7.45%, also reduce PLR")
Top-level exits: AU SFB says 'nothing to hide' on disclosure issues
Jaipur-based AU Small Finance Bank (AU Bank) on Wednesday tried to allay concerns of investors and depositors with regard to top-level resignations in recent months, saying that it is a "simple HR issue" that the company management is trying to resolve. Concerns were raised over transparency issues as there has been a lag on part of the bank to make disclosure about the top-level resignations. In an early morning investor call, MD & CEO Sanjay Agarwal said the bank has "nothing to hide" and there is nothing on the "governance issue", and rather it was a simple HR issue that the management of the company is trying to resolve. On Tuesday, the bank had said that its Chief Audit Officer Sumit Dhir has expressed his desire to move back to his hometown Delhi, due to changes in his personal circumstances following the COVID second wave. Shares of the company witnessed a sharp decline of 12.64 per cent on Tuesday even as the broader market ended with significant gains. Shares of AU Bank .
 "Top-level exits: AU SFB says 'nothing to hide' on disclosure issues")
S&P upgrades outlook on Indian Bank to stable on funding, liquidity profile
The rating agency affirmed Indian Bank's "BBB-" ratingm but ruled out any upward revision in the next one to two years
 "S&P upgrades outlook on Indian Bank to stable on funding, liquidity profile")
Hope fades for PSBs
Govt cannot keep infusing capital perpetually
 "Hope fades for PSBs")
Liquidity in the banking system rises as govt steps up spending
Net daily liquidity absorbed from banks on July 9 was Rs 4.6 trillion, data released on Monday showed
 "Liquidity in the banking system rises as govt steps up spending")
Large banks with strong balance sheet to grow faster: Axis Bank CEO
Sustained fiscal and monetary support by the government and the RBI would help economic recovery by the second half of this fiscal, Axis Bank's top official said
 "Large banks with strong balance sheet to grow faster: Axis Bank CEO")
We do have banking ambitions, says Incred Group's Bhupinder Singh
BHUPINDER SINGH, the shadow banking entity's founder and chief executive officer, spoke to Raghu Mohan
 "We do have banking ambitions, says Incred Group's Bhupinder Singh")
Brazen gaming of bankruptcy process on
According to the data from the Insolvency and Bankruptcy Board of India (IBBI), in over 363 major NCLT resolutions since 2017, banks have taken an average loss of 80 per cent
PMC Bank gets some cooperative support, but revival to take time
The takeover of this bankrupt urban cooperative bank by the Centrum-BharatPe combine marks the first instance of NBFCs, high-net worth individuals and fintechs being allowed entry in this space
 "PMC Bank gets some cooperative support, but revival to take time")
Averse bankers, willing RBI push companies towards the bond market
The corporate bond market is still dominated by financial companies, but non-financial companies have marked their presence in the past one year
 "Averse bankers, willing RBI push companies towards the bond market")
Co-operative banks can't outsource core management functions: RBI
The RBI said the lenders can hire experts, including former employees, on a contractual basis subject to certain conditions
 "Co-operative banks can't outsource core management functions: RBI")
Let's step back from the NPA Scare
Regulators and agencies need to instil less fear in lenders, so that they are able to actively restructure debts
 "Let's step back from the NPA Scare")
Meet HDFC Bank's Sashidhar Jagdishan, a CEO courageous enough to be upfront
Jagdishan took over from his larger-than-life mentor Aditya Puri
 "Meet HDFC Bank's Sashidhar Jagdishan, a CEO courageous enough to be upfront")
Privatisation buzz lifts Indian Overseas Bank, Central Bank stocks by 20%
The stock of the Mumbai-based Central Bank was locked in the upper circuit at Rs 24.30 on the back of an over 2x jump in trading volumes. A combined 88.5 million shares changed hands
HDFC Bank draws up groundwork to regain credit card market share
Will come back with a bang once RBI lifts freeze, says bank
 "HDFC Bank draws up groundwork to regain credit card market share")
RBI proposes to lift interest rate cap on microfinance institutions
Proposes debt-income cap; common rules for all micro-loan lenders
 "RBI proposes to lift interest rate cap on microfinance institutions")
Good show by banks but can they sustain it?
Till March, banks could hold on but not all of them will be in a position to stomach the impact of the second wave of the pandemic
 "Good show by banks but can they sustain it?")
How Bhavin Turakhia is building a 'bank in a box' stack for global markets
His firm Zeta aims to enable users to run any program--credit or debit card, savings a/c, deposits, loans, on a single modern cloud native platform without having to leverage any other vendor
 "How Bhavin Turakhia is building a 'bank in a box' stack for global markets")
The road ahead for State Bank of India
The elephant in Indian banking has already become nimble-footed. Its new boss, Dinesh Khara, needs to choreograph the steps for its dance
 "The road ahead for State Bank of India")
State Bank of India's domestic advances growth rebounds to 5.67% in FY21
SBI said that despite the ongoing pandemic, its business growth remained robust in the financial year ended March 2021