Page 92 - Banking Sector
UCO Bank Mar qtr net profit jumps about five-folds to Rs 80 crore
The Kolkata-headquartered lender had posted a net profit of Rs 16.78 crore in the corresponding a year ago.
 "UCO Bank Mar qtr net profit jumps about five-folds to Rs 80 crore")
Banks need to monitor asset quality, prepare for higher provisioning: RBI
RBI also expressed confidence that banks are better positioned than before in managing stress in their balance sheets in view of higher capital buffers
 "Banks need to monitor asset quality, prepare for higher provisioning: RBI")
Karnataka Bank Q4 net profit rises 15% at Rs 31 cr; NII declines 13%
The capital adequacy ratio improved to 14.85% in March 2021
 "Karnataka Bank Q4 net profit rises 15% at Rs 31 cr; NII declines 13%")
Govt to seek approval from Cabinet to set up a land bank company
DIPAM finalises structure of the company that will sell land parcels of govt departments and PSUs
 "Govt to seek approval from Cabinet to set up a land bank company")
Bank credit grows by 6.02%; deposits up by 9.87%, RBI data shows
In fiscal year 2020-21, bank credit had grown by 5.56 per cent and deposits by 11.4 per cent.
 "Bank credit grows by 6.02%; deposits up by 9.87%, RBI data shows")
Punjab & Sind Bank shares close over 4% higher after Q4 profit
Shares of Punjab & Sind Bank on Monday closed over 4 per cent higher as the company turned profitable in the fourth quarter of the financial year 2020-21 after eight consecutive quarters of losses. The stock rallied 7.33 per cent to Rs 21.95 during the day on the BSE. It closed at Rs 21.35, a gain of 4.40 per cent. On the NSE, it jumped 3.16 per cent to close at Rs 21.20. The state-run bank turned profitable in the fourth quarter of the financial year 2020-21 after eight consecutive quarters of losses, posting a profit after tax of Rs 161 crore on the back of improvement in recoveries and decline in bad loans. The lender had registered a net loss of Rs 236.3 crore in the year-ago period. However, for the full year, its loss widened to Rs 2,732.9 crore as against Rs 990.8 crore in financial year 2019-20. "The profitability is due to our focussed monitoring and also on account of recoveries. Though it has been challenging times, we were able to make a reasonable amount of ...
 "Punjab & Sind Bank shares close over 4% higher after Q4 profit")
RBI issues guidelines for merging district central co-op banks with state ones
This is subject to various conditions, including that a proposal should be made by the state government concerned.
 "RBI issues guidelines for merging district central co-op banks with state ones")
Canara Bank board meeting on Friday to consider capital raise for this fiscal
The bank is looking to raise capital through a mix of equity and debt instruments
 "Canara Bank board meeting on Friday to consider capital raise for this fiscal")
RBI's new restructuring package for small borrowers: Will it work?
The new restructuring package for small borrowers has little chance of taking off
 "RBI's new restructuring package for small borrowers: Will it work?")
State Bank of India Q4 profit up 80% at Rs 6,451 crore, beats estimates
Lender posts highest-ever full year net profit of over Rs 20,000 crore
 "State Bank of India Q4 profit up 80% at Rs 6,451 crore, beats estimates")
South Indian Bank reports Rs 7 crore net profit in March quarter
The bank reported a net interest income of Rs 561 crore, down 6 per cent year-on-year (YoY)
 "South Indian Bank reports Rs 7 crore net profit in March quarter")
SBI's March quarter showing impresses Street; stock jumps over 5%
Sequential comparisons indicate economic activity did not pick up
 "SBI's March quarter showing impresses Street; stock jumps over 5%")
Banks may transfer 80 large NPA accounts for resolution to National ARC
It is expected that NPAs over Rs 2 trillion will move out of the books of the banks to the bad bank
 "Banks may transfer 80 large NPA accounts for resolution to National ARC")
RBI asks PSBs to implement recently announced measures 'in right earnest'
RBI Governor urges banks to continue focusing on enhancing resilience of their balance sheets
 "RBI asks PSBs to implement recently announced measures 'in right earnest'")
Mumbai Angels back cloud-based neobank Nemo with undisclosed funding amount
A brainchild of IIM Ahmedabad alumni, Nemo is creating a unique business that aims to empower Indian MSMEs with the financial tools, resources, and networks that large corporations have access to
 "Mumbai Angels back cloud-based neobank Nemo with undisclosed funding amount")
God's own patience: Meet Padmakumar Madhavan Nair, MD & CEO of NARCL
His staying power was in evidence during the groundwork for the resolution of the debt owed by Anil Ambani-controlled Reliance Communication which involved over 50 lenders
 "God's own patience: Meet Padmakumar Madhavan Nair, MD & CEO of NARCL")
State Bank of India's Padmakumar M Nair named as CEO of proposed bad bank
Prior to his elevation in 2020, he worked as general manager in the SARG from 2017.
 "State Bank of India's Padmakumar M Nair named as CEO of proposed bad bank")
Govt likely to drop plan to decriminalise cheque bounce offences
It would seek directions from a Supreme Court panel formed to expedite the pendency of cheque bounce cases before taking a final call
 "Govt likely to drop plan to decriminalise cheque bounce offences")
Jose Kattoor named RBI Executive Director with effect from May 4
In charge of Human Resource Mgt Dept, Corporate Strategy and Budget Dept and Rajbhasha
 "Jose Kattoor named RBI Executive Director with effect from May 4")
Why Citibank is selling its consumer business in India
It's a strategic decision by Citigroup's new CEO, not a reflection on its India operations. Regulators' displeasure and investors' ire are behind it
