Page 93 - Banking Sector
With banks blindsided by Covid-19, incidence of fraud may well have gone up
RBI's supervisory load has also gone up, with both non-banking financial companies and urban co-operative banks coming under closer scrutiny
 "With banks blindsided by Covid-19, incidence of fraud may well have gone up")
MFIs, banks need to revisit micro-loan pricing: CreditAccess Grameen MD
Udaya Kumar Hebbar comes across as a contrarian when he says that the industry has learnt to navigate lockdowns
 "MFIs, banks need to revisit micro-loan pricing: CreditAccess Grameen MD")
DCB Bank net profit rises 13% to Rs 78 crore in January-March quarter
The bank's asset quality worsened with the gross NPAs spiking to 4.09% of the gross advances as of March 31, 2021
 "DCB Bank net profit rises 13% to Rs 78 crore in January-March quarter")
Bank credit shrinks by Rs 89,087 cr in April on second wave impact
The bank credit expanded by 5.7 per cent in 12 months till April 23, 2021, as against 6.8 per cent a year ago
 "Bank credit shrinks by Rs 89,087 cr in April on second wave impact")
Markets may be ignoring banks' NPA risk from second coronavirus wave
New measures allow banks to defer full recognition of NPAs, encourage lending to areas having high probability of defaults
 "Markets may be ignoring banks' NPA risk from second coronavirus wave")
RBI's rescue act
The move to avoid the moratorium route is a wise one
 "RBI's rescue act")
RBL Bank net declines 34% in Q4 on higher provisions, drop in NII
Its profit after tax for the reporting quarter stood at Rs 75 crore against Rs 114 crore in the year-ago period
 "RBL Bank net declines 34% in Q4 on higher provisions, drop in NII")
Covid-19 second wave: Clamour for packages for banks and NBFCs grows
Senior bankers say the situation had become serious and it was tough to gauge the economic impact
 "Covid-19 second wave: Clamour for packages for banks and NBFCs grows")
RBL Bank Q4 net dives 34% as provisions on credit cards, MFI loans rise
RBL is a small-sized private lender
Mphasis to set up nearshore centre near London, expects to invest GBP 25 mn
Bengaluru-headquartered IT solutions provider Mphasis said on Tuesday it is expanding its footprint in the UK with a special focus on digital transformation initiatives in banking & insurance, by establishing a nearshore centre, outside of London. Mphasis expects to create close to 1000 UK jobs to begin with; invest over GBP 25 million upfront towards establishing the centre, and provide upskill and training in both digital transformation as well as domain expertise in the UK banking & insurance segments. UK Prime Minister Boris Johnson was quoted as saying in a company statement: "Trade and investment between the UK and India is creating good jobs and sustaining livelihoods in both of our countries. Im very pleased thatMphasishas decided to join the legions of Indian companies investing in the UK, boosting our tech sector, and driving economic growth." "I am excited to elevate our presence in the UK to support future growth, improve operating agility, flexibility
 "Mphasis to set up nearshore centre near London, expects to invest GBP 25 mn")
Reserve Bank to strengthen risk-based supervision of banks, NBFCs
The Reserve Bank has decided to review and strengthen the Risk Based Supervision (RBS) of the banking sector with a view to enable financial sector players to address the emerging challenges
 "Reserve Bank to strengthen risk-based supervision of banks, NBFCs")
Will try to keep interest rate benign for as long as possible: SBI chief
State Bank of India (SBI) will try to keep the interest rates benign as long as possible with a view to supporting the economic growth, its chairman Dinesh Kumar Khara has said
 "Will try to keep interest rate benign for as long as possible: SBI chief")
State Bank of India reduces home loan interest rates to 6.7%
Women borrowers to get a special concession of 5 bps
 "State Bank of India reduces home loan interest rates to 6.7%")
YES Bank posts net loss of Rs 3,788 crore in Q4 as provisions rise
The bank's net interest income declined 61.5% to Rs 987 cr in Q4
 "YES Bank posts net loss of Rs 3,788 crore in Q4 as provisions rise")
Bank of Maharashtra net profit jumps to Rs 165 cr in March quarter
This was mainly due to a decline in gross NPAs
 "Bank of Maharashtra net profit jumps to Rs 165 cr in March quarter")
Most bank CEOs have to hang up boots before 70 under latest RBI guidelines
RBI's CEO tenure cap: Banks have to expedite succession planning after RBI's new rules on CEOs term
 "Most bank CEOs have to hang up boots before 70 under latest RBI guidelines")
Restructuring Deutsche Bank shows strongest quarter in seven years
The bank's long-running restructuring showed in lower costs
 "Restructuring Deutsche Bank shows strongest quarter in seven years")
Axis Bank beats Street estimates, posts net profit of Rs 2,677 crore in Q4
In the same period of last financial year, the bank had reported a net loss of Rs 1,388 crore
 "Axis Bank beats Street estimates, posts net profit of Rs 2,677 crore in Q4")
UBS, Nomura push global banks' Archegos losses beyond $10 billion
UBS shares fell 3.0% in morning trade.
 "UBS, Nomura push global banks' Archegos losses beyond $10 billion")
Markets maintain momentum for second straight day; bank stocks rally
NTPC, Kotak Bank, Nestle India, M&M, Dr Reddy's and Axis Bank were the other laggards, shedding up to 0.54 per cent.