Page 108 - Banking Sector
Big banks let $2 trn in illicit funds move around world: FinCEN Files
Almost 90 financial institutions appear in the roughly 2,100 documents obtained, a fraction of the 2 million reports filed annually.
 "Big banks let $2 trn in illicit funds move around world: FinCEN Files")
Ind-Ra cuts banking outlook to negative on rising NPA, credit cost
As per Ind-Ra's bear case, the spike in stressed assets due to pandemic is expected to double the credit costs for banking system
 "Ind-Ra cuts banking outlook to negative on rising NPA, credit cost")
India Ratings gives 'negative' outlook for banking sector in H2FY21
India Ratings and Research has revised its outlook on the banking sector to 'negative' from 'stable' for H2FY21
 "India Ratings gives 'negative' outlook for banking sector in H2FY21")
YES Bank: Why investors should not be taken in by rating upgrades
At current valuations, the lender's stock trades at a premium to IndusInd Bank and RBL Bank, leaving little room for error at current multiples
 "YES Bank: Why investors should not be taken in by rating upgrades")
As Covid ravages India, NBFCs ride out the storm with help of stimulus
India's non-bank lending sector was hit by a crisis in 2018 when a large financier unexpectedly defaulted, and the nation now needs it to stay healthy
 "As Covid ravages India, NBFCs ride out the storm with help of stimulus")
Huge liquidity surplus unlikely to be inflationary, say economists
Instead of pushing up inflation, the huge surplus liquidity, bordering at Rs 7 trillion daily, is helping in policy rate transmission and aiding govt to borrow at a cheaper rate
 "Huge liquidity surplus unlikely to be inflationary, say economists")
Deja vu on DFIs
The bank-led model of infrastructure financing is fraught with difficulties. But DFIs are not a quick fix
 "Deja vu on DFIs")
NBFCs need access to credit history like banks, says Gunit Chadha
NBFCs don't have an equivalent body to represent their well-filtered voice with the regulators and government, says APAC Financial Services founder
 "NBFCs need access to credit history like banks, says Gunit Chadha")
Loan restructuring: This time is different
It marks a reversal in the approach to tackling bad loans, but it is not kicking the can down the road
 "Loan restructuring: This time is different")
Australian banks ask for loan repayments after six-month virus grace period
The country's banking sector is treading a sensitive path as it faces pressure to revert to profit growth
 "Australian banks ask for loan repayments after six-month virus grace period")
Start-up loans of up to Rs 50 cr under priority sector as RBI revises norms
Advances to weaker section now 12% of credit for scheduled banks and SFBs, rule doesn't apply to foreign lenders with under 20 branches. RRBs already have to lend 15% to weaker sector
 "Start-up loans of up to Rs 50 cr under priority sector as RBI revises norms")
Emerging market central banks deliver 19th month of interest rate cuts
August marked the 19th straight month of net cuts - the longest easing cycle for emerging market central banks since 2013
Moratorium on loan repayment shouldn't be at the cost of economic recovery
Hopefully, the court will recognise that the legal system should not undermine the financial system
 "Moratorium on loan repayment shouldn't be at the cost of economic recovery")
Banks need to overhaul anti-money laundering mechanism: Deloitte Report
The survey will be released on August 26
 "Banks need to overhaul anti-money laundering mechanism: Deloitte Report")
Banking system has to be liberated from risk aversion mode, says RBI
As the pandemic has brought about dire need for liquidity, the RBI has said that the banking sector needs to get out of the risk aversion mode and give credit to the productive sector of the economy
 "Banking system has to be liberated from risk aversion mode, says RBI")
Governance more important than ownership of banks, says SBI chairman
A government move to reduce its stake in some public sector banks will not do any harm, he says.
 "Governance more important than ownership of banks, says SBI chairman")
PNB net profit plunges to Rs 308 cr in June qtr, income at Rs 24,292.8 cr
Total income rose to Rs 24,292.80 crore during the June quarter of 2020-21, as against Rs 15,161.74 crore in the same period of the previous fiscal
 "PNB net profit plunges to Rs 308 cr in June qtr, income at Rs 24,292.8 cr")
Govt keen to speed up stake sale in four PSU banks this fiscal: Report
Govt wants to overhaul the banking sector and is also pushing for privatisation of banks and other PSUs to help raise funds for budgeted spending amid a fall in tax collections
 "Govt keen to speed up stake sale in four PSU banks this fiscal: Report")
We must 'Make for the world' as we 'Make in India': PM Modi in I-Day speech
PM Modi said that India was making enormous efforts to stand on its own feet and linked several initiatives taken recently for this effort
 "We must 'Make for the world' as we 'Make in India': PM Modi in I-Day speech")
Covid-19 impact: Bank credit growth moderates further to 5.5% by July-end
Bankers said business conditions have been improving, but only incrementally. However, demand remains weak (for credit) and many people are repaying loans, some of of which are under moratorium
 "Covid-19 impact: Bank credit growth moderates further to 5.5% by July-end")