Page 73 - Banks

A $27 billion pile of stressed debt looms over India's new bad bank

The new institution, which is set to start operations by end of June, is likely to handle stressed debt worth $27 billionover time, which would be about a quarter of non-performing debt load

Best of BS Opinion: Shaping India's green future, the NPA scare & more

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

A sharp turnaround

India Inc remains cautious after a robust Q4 performance

Panel meets to thrash out regulatory issues, speed up bank privatisation

A high-level panel headed by the cabinet secretary recently held a meeting to cut regulatory and administrative issues so that the proposal could be placed with the group of ministers on disinvestment

Tech, media, banks in HK fear end to business after Apple Daily closure

With closure of Apple Daily, businesses including tech, media and banks are in fear of the possible end of their businesses in the city as China tightens its grip on a city.

SBI, BoB: After stellar rally, can PSU banks still offer good returns?

If the stock of SBI fails to conquer the resistance of Rs 425-mark, some weakness is likely near the support of Rs 410 levels

Using digital currencies abroad hits logjam, but pandemic may have solution

Without coordination between companies and regulators, e-CNY, FedCoin, Britcoin will all remain trapped in silo.

Banks realised 40% loss in Mallya, PNB cases via sale of seized stock: ED

About 40% of the money lost by banks in the PNB scam and the fraud linked to Vijay Mallya's defunct Kingfisher Airlines has been realised by way of sale of shares seized under PMLA, the ED said

Will co-lending in new avatar fly? It may, but not in a way it was imagined

One problem that is yet to be fully resolved is how to marry the low-cost funds of banks with the lower operational costs of NBFCs, and pass on the benefit to borrowers through a blended rate

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

Bank, airline websites go dark briefly in international internet outage

Website tracker flags hundreds of user complaints about outages affecting Southwest, Delta Air Lines Inc. and Automatic Data Processing Inc

Banks offering higher interest rates on FDs to encourage Covid vaccination

In a bid to encourage more COVID-19 vaccination, some state-owned lenders have announced higher interest rates on deposits, but for a limited period. City-based UCO Bank said it is offering 30 basis points or 0.30 per cent higher rate on fixed deposits of 999 days for applicants who have received at least one dose of a Covid vaccine. "We are also taking minor steps to encourage vaccination drives. We are offering UCOVAXI-999... for a limited period till September 30," a bank official said. Central Bank of India had also recently launched the Immune India Deposit Scheme with an additional interest rate of 25 basis points above the applicable card rate for those who have been vaccinated. The new product has a maturity of 1,111 days, the lender said in a release. The cumulative number of COVID-19 vaccine doses administered in the country has exceeded 23.59 crore, the health ministry said on Monday.

State-owned Union Bank of India fourth quarter profit at Rs 1,330 crore

It incurred a net loss of Rs 2,503.18 crore in the year-ago quarter.

Net loss of Central Bank of India, tipped to be privatised, narrows in Q4

Central Bank of India stock closed at Rs 23 apiece on the BSE, a jump of 7.98 per cent over the previous close.

BoB board approves setting off losses against share premium account

For fiscal year 2020-21, the bank reported a net profit of Rs 828.95 crore, up 52 per cent from Rs 546.18 crore a year ago.

Punjab National Bank eyes three-fold rise in profit in fiscal 2022

Despite Covid-19, the bank's profit surged over five times during the financial year ended March 2021

PNB to transfer bad loans worth Rs 8,000 crore to NARCL

In current quarter, the bank expects substantial recovery from DHFL, although there are some issues lingering in NCLAT, its MD said

Do not politicise GST Council: Finance Minister Nirmala Sitharaman

The government is conscious of the intensity of the second wave of Covid-19 and is assessing its full impact before coming out with further packages and interventions, says FM Sitharaman

Banks can sell Mallya's assets worth Rs 5,646 cr to recover dues

SBI has the highest exposure of Rs 1,600 crore out of original loan of Rs 6,900 crore to the defunct Kingfisher Airlines.

Bank of Baroda shares close nearly 4% lower after fourth quarter net loss

The stock declined 3.81 per cent to close at Rs 80.65 at the NSE.