Page 83 - Banks

Son of ex-bank staffers among three held for running fake SBI branch

The three-month-old branch came under the lens after an SBI customer noticed it in Panruti and informed his branch manager

Coronavirus will cost banks over $2 trillion in losses on loans: S&P Global

Around 60% of the losses are likely to be in Asia-Pacific, it added

Ensure safety of bank staff, act against unruly people: FinMin to states

Following the Surat incident, Finance Minister Nirmala Sitharaman had assured that the safety of all members of staff in banks is of importance

Investors advised caution, shouldn't be gung-ho about banks' Q1 updates

Moratorium extension and business flow from March may have influenced figures

Inevitability of defaults: Promoters gripe over loans being sold to ARCs

'Once the moratorium is lifted, we expect several companies to default. The bank will have no other option but to either restructure the loan or sell it to ARCs,' says a banker

RBI can frame revival plan for all banks without imposing moratorium

The RBI has to impose restrictions on lending and withdrawal activities before it can frame a revival scheme for commercial and co-operative banks, according to the previous law

Banks sanction over Rs 79,000-crore loans to 1.9 mn MSMEs, says govt

The top lenders under the scheme are SBI, HDFC Bank, Bank of Baroda, PNB and Canara Bank

HSBC revives plan to slash 35,000 jobs, freeze hiring to cut costs: Report

The bank will also maintain a freeze on almost all external recruitment, Chief Executive Noel Quinn said in the memo sent to the bank's 235,000 staff worldwide

Top headlines: IPO filings dry up, challenges for Maruti Suzuki, and more

From IBM dropping its facial recognition software, Irdai withdrawing its long-term covers on motor to FM telling banks to improve interest rate transmission, here are the top headlines on Wednesday

FM Nirmala Sitharaman tells banks to improve interest rate transmission

The FM told bankers that interest rate transmission is not happening as expected

Centre warns banks on delays in disbursing Rs 3 trn loans to MSMEs

Urges units facing any such delay to write to it, assured corrective action and disbursement of loan

Oil rescues big banks' commodities profits as gold income tumbles

The banks' net revenue from trading, selling derivatives and other activities in the commodities sector was around $1.5 billion over January-March, the financial industry analytics firm said

RBI imposes penalties on three banks for non-compliance of norms

Bank of India suffers Rs 5 cr fine, Karnataka, Saraswat hit with Rs 1.2 cr and Rs 30 lakh penalty

Banks not passing rate cut benefits to borrowers, developers: CREDAI to RBI

RBI has directed the banks to link floating rates on housing loans to external benchmarks

Don't fear CBI, CVC, CAG; extend loan to eligible borrowers: FM to bankers

In case of default, the individual bank or official will be hauled up, she said in a conversation with BJP leader Nalin Kohli uploaded on the party's social media platforms

Banks bat for package for beleaguered aviation, hospitality, realty sectors

Public sector bank executives said these three sectors have been hit badly in the immediate aftermath of lockdown announced in March 2020

Banks, financial cos must be allowed to avail credit insurance: Irdai group

Trade credit insurance covers a seller against the risk of non-payment by its customers arising due to willful default or insolvency

Covid-19 crisis: Slippages may jump to Rs 5.5 trillion, says India Ratings

Credit costs could touch Rs 2.7 trillion

Covid-19 crisis: Banks seek relaxed NPA norms, moratorium extension

Senior bank executives said the Indian Banks' Association (IBA) has already approached the Reserve Bank of India with a plea for easing regulatory norms

Stimulus will keep NBFCs and MFIs afloat, but won't be able to revive them

It is important to wait for the entire package to come to see if the measures will improve demand in the economy in any manner