Page 97 - Banking Sector

AU SFB has to pass asset quality test after raising funds: Analysts

The stock has corrected by about 12 per cent after touching a high of Rs 1,315 a share on March 9

Financial services space set for disruption over next 10 years: Kamath

Not just banking but the entire financial services space is set for disruption over the next 10 years, which will lead to reduction in transaction costs, veteran banker K V Kamath said on Friday. He said technology is transforming the way banking is done and bankers need to internalise this. Citing the first wave of change brought about in the banking space 20 years ago, Kamath said it changed the sector in a positive way. "Unless you internalise it's going to be a digital world...we will see a very quick evolution of this space in the next 10 years. It's not just bank but entire financial services space is set for disruption, not necessarily a negative way, it can be also in a positive way," the former president of New Development Bank said. Speaking at the Times Network India Economic Conclave, he said disruption will bring down transaction costs dramatically. For example, technology has brought down the intermediation cost for micro-credit, Kamath pointed out. He said bankers

State Bank of India, HDFC Bank, others yet to comply with scrubbing norms

Trai said the enforcement of its regulations was vital because the delivery of non-compliant messages allowed fraudulent miscreants to conveniently misuse the message delivery

ICICI Bank enables customers to break high-value transactions into EMIs

ICICI Bank customers can break their high value transactions of over Rs 50,000 into suitable EMIs directly on its internet banking platform to make their purchases more affordable, the lender said on Wednesday. The facility is the first in the industry, the bank added. It will be applicable on transactions up to Rs 5 lakh and will bear no additional cost on the customers. Christened 'EMI @Internet Banking', the facility will enable customers convert their high-value transactions up to Rs 5 lakh into easy monthly instalments, ICICI Bank said in a release. Customers can purchase gadgets or pay for their insurance premium or school fees in easy EMIs from their savings account using the internet banking platform, it said. The bank has tied up with online payment gateways BillDesk and Razorpay to enable this facility. To begin with, over 1,000 merchants in categories like online shopping portals, insurance, travel, education- school fees and electronic chains have been brought ...

Loan moratorium case: NBFCs want govt to refund interest on deposits

Iyer said the penal interest would add up only trite as NBFCs are typically small ticket loan suppliers

Bank of India to issue Basel III compliant bonds to raise up to Rs 750 cr

Bank of India on Wednesday said it will raise up to Rs 750 crore by issuing Basel III compliant bonds.

Govt may seek details of interest on interest charged by banks

Government may ask banks to provide details of interest on interest collected by them for loans exposure of over Rs 2 crore.

Transferring bad debt to ARC at book value just window dressing: Experts

Asset valuation should be left to market forces to help attract investors and create a healthy distressed debt market, say experts.

Loan moratorium: SC ruling clears overhang for banks, sets path for action

Liability seen at Rs 8,000 cr if govt does not foot the bill; more transparency expected, loan recoveries to start

RBI defers limits on non-centrally cleared derivative exposures for banks

The Reserve Bank on Tuesday deferred applicability of limits on non-centrally cleared derivatives exposures for banks till September-end.

Loan moratorium: Supreme Court to pronounce verdict today

A bench headed by Justice Ashok Bhushan which had reserved its verdict on the batch of pleas on December 17, last year, will pronounce the judgement

Dow, S&P 500 drop as bank stocks slump after capital buffer relief expires

Market trading volumes and liquidity are expected to rise on Friday due to "quadruple witching," the quarterly simultaneous expiration of U.S. options and futures contracts

Suryoday Small Finance Bank initial public offer subscribed 2.37 times

The initial public offer of Suryoday Small Finance Bank was subscribed 2.37 times on the last day of subscription on Friday

Punjab National Bank sets-up subsidiary to manage credit card business

State-run Punjab National Bank (PNB) has set up a wholly-owned subsidiary to manage its credit card business, the bank said on Wednesday. A wholly-owned subsidiary of the bank namely PNB Cards & Services Ltd has been incorporated on March 16, 2021, by the Registrar of Companies, Delhi, it said in a regulatory filing. The subsidiary will undertake the non-financial support services related to credit card business of the bank. The authorised capital of the company is Rs 25 crore and the paid-up capital is Rs 15 crore, PNB said. The number of outstanding credit cards at the end of December 2020 of PNB stood at over 4.3 crore (43,402,879), according to the RBI data. The value of transactions through credit cards was Rs 137.55 crore (Rs 13,755 lakh) at the point of sale (PoS) and Rs 1.17 crore (Rs 117 lakh) at the ATMs during the month. The number of transactions at PoS were 5,79,244 while at the ATMs the number of transactions through credit cards were 3,871 in December 2020. PNB ...

Suryoday Small Finance Bank initial public offer subscribed 42% on day 1

Suryoday Small Finance Bank's initial public offer was subscribed 42 per cent on Wednesday

AT1 cloud likely to hit banks' capital-raising plans, say experts

They have planned to raise about Rs 30,000 crore through this route

Banking services disrupted across Maharashtra on Day 2 of nationwide strike

The two-day pan-India bank strike ended today, with the disruption in services including cash withdrawals, deposits, loan disbursements and cheque clearances hitting customers hard across Maharashtra.

RBI strengthening institutional mechanism to prevent bank frauds: FM

Sitharaman on Tuesday informed Parliament that the Reserve Bank of India is taking measures to strengthen its regulatory and supervisory capacity

Credit Suisse flags possible charge from Greensill fallout

The lender has been facing the fallout from the collapse of $10 billion worth of funds linked to British financial services firm Greensill Capital

Cheque clearing to be done at all bank branches by September 30

The measure was first announced during February policy meet of RBI, but the guidelines were to be issued by March