Page 26 - Finance
SBI likely to sell Rs 10,000 crore of AT-1 bonds around February 20
The bonds, which are likely to receive a rating of AA+, may go up for bidding on February 20 with issuance scheduled for the next day
 "SBI likely to sell Rs 10,000 crore of AT-1 bonds around February 20")
D2C firm Mensa Brands raises Rs 300 crore debt from TradeCred
Direct-to-consumer (D2C) firm Mensa Brands on Tuesday said it has raised Rs 300 crore debt from TradeCred. The funds will be used for new brand acquisitions as well as brand growth, including product development, supply chain integration, and working capital investment, the company said in a statement. "With this additional capital, we will be able to double down on our growth ambition," Mensa Brands Founder & CEO Ananth Narayanan said. At present, Mensa has 25 brands across fashion, home, beauty and FMCG, including Dennis Lingo, Villain, Pebble, and MyFitness. Debt platform TradeCred has over Rs 2,200 crore of assets under management and more than 20,000 active users as of February 2022, the company said. "As part of Mensa's Rs 300 crore financing arrangement, 50 UHNIs (Ultra high-net-worth individuals) collectively participated," it added.
 "D2C firm Mensa Brands raises Rs 300 crore debt from TradeCred")
Indian banks' NIM to contract in FY24 as deposit costs rises: Fitch
Lenders should be able to offset impact by gradually passing on policy rate hikes to corporate loans: Agency
 "Indian banks' NIM to contract in FY24 as deposit costs rises: Fitch")
Bank credit for services up three-fold in Apr-Dec 22 as economy picks up
Credit to NBFCs and trade (wholesale and retail) showed maximum traction, RBI data showed
 "Bank credit for services up three-fold in Apr-Dec 22 as economy picks up")
CSB Bank Q3 net up 5% to Rs 156 cr on strong growth in deposits and loans
Total income rises to Rs 682 crore from Rs 580 a year ago. Asset quality improves
 "CSB Bank Q3 net up 5% to Rs 156 cr on strong growth in deposits and loans")
Alive and kicking: What common thread links the new-age NBFCs?
Using their imagination,new-age shadow banks have shown that their business model can fly
 "Alive and kicking: What common thread links the new-age NBFCs?")
Punjab & Sind Bank upgrades its FY23 guidance for NIMs, credit costs
S K Saha, managing director and chief executive of the bank, said the lender is trying to create an image of a niche bank
 "Punjab & Sind Bank upgrades its FY23 guidance for NIMs, credit costs")
Moody's upgrades ratings for PNB, Canara Bank and Bank of Baroda to 'Baa3'
India's improving macros, banks improving credit profile trigger upgrade
 "Moody's upgrades ratings for PNB, Canara Bank and Bank of Baroda to 'Baa3'")
Taxmen probe rich Indians for having foreign policies without approval
Foreign Exchange Management Act (Fema) is triggered when life insurance is bought from a foreign company without RBI approval
 "Taxmen probe rich Indians for having foreign policies without approval")
ING planning return to India by buying controlling stake in IDBI Bank
The government and the Life Insurance Corporation of India together may sell 60.72 per cent of IDBI Bank
 "ING planning return to India by buying controlling stake in IDBI Bank")
RBI's ECL move may hit capital position of smaller private banks
Over the past 5-10 years, the probability of default would have been very high for the banking sector and that's why eventual ECL provisions could be higher
 "RBI's ECL move may hit capital position of smaller private banks")
Bank of Maharashtra raises rates on term deposits after union appeal
Senior citizens will be offered an additional rate of 0.5% per annum for all maturity slabs
 "Bank of Maharashtra raises rates on term deposits after union appeal")
Ind-Ra upgrades issuer rating for Bank of India, cites capital position
State-owned lender has since FY21 reported consistent profitability, says agency
 "Ind-Ra upgrades issuer rating for Bank of India, cites capital position")
Here's why private banks' SME credit has grown four times faster than PSBs'
Bankers say private lenders have more risk appetite, faster response times, and are aggressive on pricing
 "Here's why private banks' SME credit has grown four times faster than PSBs'")
RBI open to non-bank arms route to end stalemate with ESMA: Report
The proposal came up in a meeting between RBI deputy governor T Rabi Sankar and senior officials from European banks
 "RBI open to non-bank arms route to end stalemate with ESMA: Report")
EnKash gets RBI's in-principle nod to operate as online payment aggregator
On Tuesday, Hitachi Payment Services and BharatPe also received in-principle authorisation to operate as payment aggregators
 "EnKash gets RBI's in-principle nod to operate as online payment aggregator")
Bond issuance by banks to touch record Rs 1.3 trn in FY23: Report
They raised more than Rs 73,000 crore in FY22, says rating agency ICRA
 "Bond issuance by banks to touch record Rs 1.3 trn in FY23: Report")
JPMorgan to face lawsuit by unit of Ray-Ban maker over cyber theft
JPMorgan Chase Bank NA will have to face a lawsuit by a unit of the French maker of Ray-Ban glasses that claims the bank ignored suspicious transactions
 "JPMorgan to face lawsuit by unit of Ray-Ban maker over cyber theft")
Irdai to allow insurers to auto renew FRN of cross border reinsurers
Move aimed at improving ease of doing business; reinsurers must first meet regulator's criteria for obtaining renewal, which would be available FY24 onwards
 "Irdai to allow insurers to auto renew FRN of cross border reinsurers")
HDFC Bank's loan book expands by 19.5%, domestic retail loans grow 21.5%
IndusInd sees 19% credit growth in Q3; deposit growth outpaces loans for HDFC Bank, YES Bank
 "HDFC Bank's loan book expands by 19.5%, domestic retail loans grow 21.5%")