Page 60 - Banking Sector
Vi in talks with SBI for loan of Rs 15K-16K crore for capex needs: Report
The talks have reportedly been going on for over a month now and SBI is waiting to get clarity on the govt's potential shareholding in Vi
 "Vi in talks with SBI for loan of Rs 15K-16K crore for capex needs: Report")
HDFC Bank likely to raise Rs 15,000 cr via tier-2 bonds, largest this FY
Lenders return to debt market as yields soften and credit demand booms
 "HDFC Bank likely to raise Rs 15,000 cr via tier-2 bonds, largest this FY")
CBDC more anonymous than traditional e-transactions: IDFC First Bank CEO
In CBDC, the core banking will have a one-time debit for currency purchase, but all subsequent transactions, which move from wallet to wallet
 "CBDC more anonymous than traditional e-transactions: IDFC First Bank CEO")
Rally in PSU banks set to continue; biz prospects may improve further in H2
There's been credit expansion and credit costs have remained low, due to general economic growth and low non-performing assets (NPAs)
 "Rally in PSU banks set to continue; biz prospects may improve further in H2")
Indian govt allows Lankans to hold $10,000 worth of rupee in cash
SL banks must open nostro accounts with Indian banks
 "Indian govt allows Lankans to hold $10,000 worth of rupee in cash")
Excess credit growth to limit Indian banks' loss-absorbing ability: Fitch
Rating agency warns capital base of PSBs may come under greater strain
 "Excess credit growth to limit Indian banks' loss-absorbing ability: Fitch")
ESMA to derecognise CCIL: Banks, RBI discuss alternative clearing methods
Fresh clearing options came up in discussions with RBI, banks in touch with offshore regulators
 "ESMA to derecognise CCIL: Banks, RBI discuss alternative clearing methods")
Kotak Mahindra Bank arm to raise up to $1 billion for data centres
The firm did not reveal the fundraising plan, but sources said the lender planned to raise $500 mn-$1 billion
 "Kotak Mahindra Bank arm to raise up to $1 billion for data centres")
Savings deposit growth in Q2 slumps to 9.4% YoY while FDs gain traction
Growth of money kept in current accounts moderated to 8.8% this September, from 17.5% a year ago
 "Savings deposit growth in Q2 slumps to 9.4% YoY while FDs gain traction")
Uttar Pradesh govt asks commercial banks to step up credit flow
The UP government has said unless the credit flow is equitable across the different regions, the goal of a $1-trillion economy would remain elusive
 "Uttar Pradesh govt asks commercial banks to step up credit flow")
UTI AMC, Punjab National Bank shares jump on the stake sale plans
The stake is valued at around Rs 1,437 crore at UTI AMC's last closing price of Rs 743.5
 "UTI AMC, Punjab National Bank shares jump on the stake sale plans")
RBI's Housing Price index up 4.5% in Q2, Kochi tops chart with 11.5% rise
Four of the 10 cities in the index recorded sequential contraction, the others posted expansion
 "RBI's Housing Price index up 4.5% in Q2, Kochi tops chart with 11.5% rise")
M&M Financial Services' board approves Diwakar Gupta's appointment
Mahindra & Mahindra Financial Services on Friday said its board has approved the appointment of Diwakar Gupta as an Independent Director with effect from January 1, 2023. Gupta (69), a seasoned banker, have over 48 years of experience in banking and financial services sector. The company's board on Friday "approved and recommended to the shareholders of the company, the proposal for appointment of Diwakar Gupta as an Independent Director on the board of the company, for first term of 5 consecutive years with effect from January 1, 2023," according to a regulatory filing. He was associated with State Bank of India (SBI) for 39 years. He has worked in Aditya Birla Nuvo Ltd, Asian Development Bank, Manila, and as a member of the expert committee for resolution framework for Covid-19-related stress, constituted by RBI in 2020. Currently, Gupta is the independent director on the board of companies-- CRISIL Ratings Ltd, Mahindra Holidays & Resorts India Ltd, Holiday Club Resorts Oy .
 "M&M Financial Services' board approves Diwakar Gupta's appointment")
HDFC Bank awaiting RBI reply on subsidiary stake forbearance: Parekh
According to HDFC's latest annual report, the mortgage lender has over 10 subsidiaries, including HDFC Life Insurance, HDFC Ergo General Insurance, and HDFC Asset Management
 "HDFC Bank awaiting RBI reply on subsidiary stake forbearance: Parekh")
HDFC Bank elevates Bharucha as Deputy MD, appoints Zaveri as ED
Decision comes ahead of merger; RBI had halted move ahead of Aditya Puri's retirement
 "HDFC Bank elevates Bharucha as Deputy MD, appoints Zaveri as ED")
Banks' overnight SDF balances eligible for LCR computation: RBI
Circular embraces all commercial banks, leaves out local area banks, RRBs and payments banks
 "Banks' overnight SDF balances eligible for LCR computation: RBI")
Regulating NBFCs like banks to impair lending model: FIDC to FM Sitharaman
According to the memorandum, if NBFCs are to be regulated like banks, then the typical NBFC model of lending will suffer which will have an impact lending to the unbanked/ underbanked segment
 "Regulating NBFCs like banks to impair lending model: FIDC to FM Sitharaman")
A banker turned tech maven: Meet Sandhya Devanathan, Meta India head
Devanathan takes over the India operations after the previous incumbent, Ajit Mohan, resigned to join social media company Snap Inc
 "A banker turned tech maven: Meet Sandhya Devanathan, Meta India head")
S-P upgrades Axis Bank's long term issuer rating from 'BB+' to 'BBB-'
The upgrade reflects Indian private lender's good asset quality and expectation that the bank will maintain it over the next one to two years
 "S-P upgrades Axis Bank's long term issuer rating from 'BB+' to 'BBB-'")
Banking funds could outperform if economic recovery continues unimpeded
Global factors causing a slowdown and overexposure to this sector are key risks
 "Banking funds could outperform if economic recovery continues unimpeded")