Page 80 - Banking Sector

Banks concerned as trade settlements with Russia stall in face of sanctions

The extent of the payments that are stalled is not clear at the moment and RBI is trying to assess it

From banking to sports to vodka, Russia's isolation grows amid Ukraine war

It's a globalised world a planet stitched together by intricate supply chains, banking, sports and countless other threads of deep connection. Until it isn't.

ABG Shipyard's debt conversion in bankruptcy case adhered to rules: Banks

The CBI, which examined top executives of ICICI Bank last week, is expected to call officials of some public sector banks in the coming week

LIC IPO: Bankers buy time to decide on valuations amid market mayhem

Domestic institutional investors, including mutual funds, are keeping their powder dry to invest in LIC's offering

DBS Bank India migrates to new IFSC and MICR codes of erstwhile LVB

Following the amalgamation with DBIL, the IFSC & MICR codes of all branches of erstwhile LVB have changed. While the new codes have been active since October 25, 2021, the older IFSC codes will remain valid until February 28, 2022, to ensure customers' convenience and ease of transition. Customers will be required to use the new DBS IFSC code from March 1, 2022, onwards to receive funds through NEFT/RTGS/IMPS.The change was communicated to customers through physical letters, emails, and SMS as well as at the branches. They were requested to share the new IFSC code with business partners, associates and vendors to update their records, recurring payments and receivables well in time. All existing cheques issued to the third party will have to be replaced with new cheques before February 28, 2022. Any cheque with old MICR codes presented after the aforementioned date will not be honoured.New cheque books (with new MICR code) have been available since 1st November 2021. Customers ..

Rupee sinks 109 paise, worst in Asia; RBI intervenes to reduce volatility

Rupee may breach 76/$ if geopolitical tensions persist

PSB recap bonds fair valuing to dent Tier-1 capital up to 1.75%: Ind-Ra

The rating agency said it understands that the five recipient PSBs may need to value zero-interest bonds at fair value instead of par value

HSBC says its profit tripled in 2021 to $12.6 billion, outlook 'good'

The bank sold its French retail business to American investment group Cerberus in June, marking another step in plans to focus on Asia and trim exposure to Europe and North America

'Gold loan NBFCs may adopt aggressive growth strategies amid competition'

Gold loan portfolio across banks has jumped by more than 89 per cent year-on-year to Rs 60,700 crore in FY21 and Rs 70,900 crore in the first nine months of FY22

FM Nirmala Sitharaman asks banks to be more customer-friendly

The minister also made it clear that banks do not have to be lenient on credit underwriting standards by taking any adverse risks on a proposal

NBFCs seek priority sector tag for 2-wheeler loans financed by bank credit

This would help them get cheaper funds from banks and increase lending, especially in rural areas

CSB Bank gets RBI nod to appoint Pralay Mondal as Deputy Managing Director

His prior appointment in the bank since September 23, 2020 was as President

LIC IPO applications: Banks told to raise UPI per-transaction cap

A specially created working group found processing of many applications failed if UPI was selected as a mode of payment by retail investors due to per transaction caps imposed by banks

Three shipyards account for bulk of Rs 44,000 cr banks lost to the industry

ABG Shipyard was biggest contributor, at Rs 23,000 cr, to the drain on banks' coffers

More capital support to IDBI Bank may have adverse impact on LIC: DRHP

LIC had infused Rs 4,743 crore into IDBI Bank on October 23, 2019 using policyholders' funds while the bank further raised Rs 1,435.1 crore in Dec. 2020 by way of a qualified institutional placement

ABG Shipyard fraud: Banks' detection faster than usual, says FM Sitharaman

The alleged Rs 22,842 crore ABG Shipyard fraud is the largest fraud detected in the Indian banking system yet.

Banks in India can offer foreign currency-settled rupee derivatives

Move is expected to remove segmentation between onshore and offshore markets

Spike in credit demand from corporate, RAM segments: Indian Bank MD & CEO

In a Q&A, Shanti Lal Jain talks about recovery in demand, bad loan trends and the status of Covid recast

DCB Bank Q3 net down 21.9% YoY to Rs 75 cr as other income falls

Sequentially, net profit rose marginally from Rs 65 crore in Q2FY22

Punjab and Sind Bank post Rs 301 cr net profit in Q3 versus year-ago loss

Interest margins improve; provisions & contingencies fall sharply