Page 22 - Banking

We helped shrink the working capital cycle: CredAble's Nirav Choksi

The fintech company is currently disbursing close to Rs 1,500 crore a month

Hope to get buyer for consumer biz by Q4: Citi India CEO Ashu Khullar

Despite being a foreign bank, we move 7-10 per cent of the Indian payment systems, says CEO Khullar

Bank of America 2Q profit more than doubles to $9.22 bn, tops forecast

Bank of America 2Q profit more than doubles, tops forecast Bank of America Corp. said Wednesday that second-quarter net income more than doubled to USD9.22 billion from USD3.53 billion a year ago. The Charlotte, North Carolina-based bank said it had earnings of USD1.03 per share for the quarter ended June 30, up from 37 cents in the year-ago quarter. The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share. The nation's second-largest bank posted revenue of USD22.62 billion in the period. Its revenue net of interest expense was USD21.47 billion, missing Street forecasts. Four analysts surveyed by Zacks expected USD21.77 billion. Year-ago revenue was USD22.33 billion. Bank of America shares have increased 32per cent since the beginning of the year, while the S&P 500 index has risen 16per cent. The stock has climbed 65per cent in the last 12 months.

Finance ministry puts on hold examination for clerical cadre in PSU banks

The Finance Ministry directed the Institute of Banking Personnel Selection to put on hold examination for clerical cadre in PSBs till a final view is taken on conducting tests in regional languages.

Attach bank, demat accounts to recover due amount in Avon Corp case: Sebi

Markets regulator Sebi on Tuesday ordered attachment of bank accounts as well as shares and mutual fund holdings of an individual to recover dues totalling around Rs 1.13 crore.

Liquidity in the banking system rises as govt steps up spending

Net daily liquidity absorbed from banks on July 9 was Rs 4.6 trillion, data released on Monday showed

CRMNEXT raises $16 million from Avataar Ventures, Ascent Capital

Startup provides enterprise solutions for banks and financial services companies, has offices in 11 countries

How Zeta acquired Unicorn status in the very first round of funding

Enterprises typically reach the feat at series C or series D, or three to four funding rounds later

As work from home deepens …

… are far-reaching social changes coming with it?

RBI tightens dividend payout norms for NBFCs, links them to bad debt

NBFCs can give dividend only if accounts are clean, NPAs not hidden, and are below 6 per cent for the last three years

RBI has given us 120 days to operationalise SFB: Centrum's Jaspal Bindra

In an exclusive interview with Business Standard, Jaspal Bindra, executive chairman of Centrum group said it has committed Rs 1,800 cr capital to the SFB, Rs 900 cr of which will come in first year

How banks were able to prove doomsday predictions wrong in a pandemic year

There were five factors that helped banks contain bad loans in a pandemic year

Best of BS Opinion: The real oximeter, why poor are leaning right & more

Here are the best of Business Standard's opinion pieces for Monday

Credit losses set to decline for most Asia Pacific banks, says S&P

Credit losses are set to fall across most Asia Pacific banking systems over the next two years, S & P Global Ratings said on Tuesday.This is partly because targeted assistance to stretched borrowers will likely continue in many places until pandemic-related challenges substantially abate."Asia Pacific banks should safely avoid a 'cliff effect' even as extensive relief measures are progressively removed," said S & P Global Ratings credit analyst Sharad Jain.Moratoriums on loan repayments -- together with fiscal, monetary and policy support -- have helped cushion the blow to borrowers in Asia Pacific from the Covid-19 outbreak and containment measures.Repayment moratoriums have fallen to less than 5 per cent of system loans for a number of Asia Pacific countries compared with between 6 and 80 per cent at the height of pandemic.S & P forecast credit losses for the 12 larger banking systems in Asia-Pacific: Australia, China, Hong Kong, India, Indonesia, Japan, Malaysia, New ...

New credit culture

A big step by SC in allowing banks to chase personal guarantors

Bulls gain strength: Sensex reclaims 50,000, Nifty ends above 15,000

Fall in Covid-19 cases, prospect of economy normalising in near term lift indices for a second day

Bank of Baroda mulls hiring digital marketing agencies to strengthen brand

Bank of Baroda is looking to hire three digital marketing agencies to strengthen its brand, aiming to be a preferred choice of customers with innovative banking models

How to reconstruct asset reconstruction companies

Banks feel happy shifting their toxic assets from loan books to investment books, while the ARCs are enjoying the management fees with a smile. Let's break the cosy relationship

Not getting personal loan to manage an emergency? Offer collateral

Starting a fixed deposit may make a bank more willing to offer you a credit card

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