Page 71 - Banking Sector

NCLT admits Bank of India's insolvency petition against Future Retail

IRP appointed; corporate insolvency resolution process to start against the retailer

RBI should come up with on-tap licences for UCBs, says Satish Marathe

The revised guidelines on UCB proposed a four-tiered regulatory framework with differentiated regulatory prescriptions aimed at strengthening the financial soundness of the existing UCB

AU Small Finance Bank Q1 net up 32% YoY to Rs 268 cr, down 23% sequentially

Improvement in NII, even as trading losses weigh on profitability

Canara Bank raises Rs 2,000 cr by issuing Basel III compliant bonds

"The bank received total bid amount of Rs 5,719 crore, out of which full issuance of Rs 2,000 crore was accepted at 8.24 per cent," Canara Bank said in a regulatory filing.

IndusInd Bank's board approves fundraise of up to Rs 20,000 crore

The bank's board also approved the re-appointment of Akila Krishnakumar as non-executive independent director

SBI has not decided on selling 26% stake in YES Bank, says report

SBI is allowed to reduce the stake in the YES Bank at the end of Financial Year 2022-23 (FY23) but it may not decide about that this financial year due to volatile market conditions

The rise in the incidence of digital fraud

Over the years, there has been a significant change in the types of frauds affecting the banking industry

Merger with HDFC to help tap home finance opportunity: HDFC Bank chairman

A more stable balance sheet because of the merger will enable HDFC Bank to step up exposures and facilitate higher credit growth in the economy, said the chairman

We are looking at being distinctive as a bank: Axis Bank MD & CEO

In a Q&A, Axis Bank MD & CEO Amitabh Chaudhry says bank's core leadership is focused on 19 transformative initiatives, at both business and functional levels in order to become better execution engine

YES Bank, JC Flowers in pact for ARC in bid to seal largest ever NPA deal

This is being termed the single-largest bad loan deal

Federal Bank's Q1 net jumps 64% to Rs 601 cr in best-ever quarterly show

Stronger bottomline supported by lower provisions and healthy NII

State Bank of India increases MCLR by 10 bps, second hike since June

The six-month MCLR is at 7.45 per cent; one-year MCLR is at 7.50 per cent; two-year MCLR is at 7.70 per cent; and three-year MCLR is at 7.80 per cent

PNB on-boards account aggregation platform to help digitally access files

Punjab National Bank is the second public sector lender to go live in the ecosystem, acting as Financial Information User (FIU) and Financial Information Provider (FIP)

Banks' asset-quality risk to be moderate after RBI rate hike: Fitch Ratings

'Mounting repayment pressure for some borrowers amid India's interest rate hikes, particularly for micro, small and medium-sized enterprises, will test banks' loan underwriting quality'

How HDFC Bank, others may fare in Q1 results season

Increase in lending rates, credit growth etc are expected to help banks report a rise in income and profits in Q1FY23. Here's a glimpse of how Q1 results of the banking sector may look like.

News on RBI nod for ARC stake speculative, lacks bonafide sources: YES Bank

YES Bank clarified that it had indeed started the process of seeking a partner for an asset reconstruction company through a public expression of interest, but added that the process is still underway

FSIB recommends former Union Bank of India MD for post of NaBFID MD

The Centre, earlier this month, transformed the Banks Board Bureau into FSIB and expanded the headhunter's role to suggest appointments for PSU banks, insurance companies and financial institutions

Canara, Union Bank to raise around Rs 4,000 cr via AT-1 bonds by next week

Union Bank plans to raise up to Rs 2,000 crore while Canara Bank plans to issue AT-1 bonds worth up to Rs 2,000 crore, say sources

ED probing some entities, employees over irregularities, says IndusInd Bank

IndusInd Bank says it has no credit exposure to the entities being investigated

NBFCs to rely more on funding from banks, cost may rise, says report

Non-bank finance companies (NBFCs) are likely to rely more on banks for their funding requirements as interest rates are hardening in the capital market, says a report. As the sector moves towards banks for meeting its funding requirements, smaller NBFCs could witness a sharp increase in their funding costs, India Ratings and Research said in a report. "The borrowings of non-bank finance companies (NBFCs) could get skewed to banks in FY23, given the hardening of rates in the capital markets," the agency said in a report on Wednesday. The shift in the NBFCs' funding mix in FY23 will be driven by a rise in the proportion of short-term funding by way of commercial papers and debenture funding getting replaced by bank funding to a certain extent. A huge quantum of borrowings to be raised by large NBFCs would lead to a further increase in the banks' exposure to the sector, and small NBFCs thus could face crowding out, the report said. The agency said with the rise in interest rates, ..