Page 18 - Indian Banks
Bank of Baroda hikes MCLR up to 30 basis effective December 12
The revised rates will be effective from December 12
 "Bank of Baroda hikes MCLR up to 30 basis effective December 12")
Over Rs 12 crore swindled from Kozhikode Corporation accounts in PNB
Over Rs 12 crore have been swindled from several accounts of the Kozhikode Corporation in a Punjab National Bank here and the prime accused -- a former senior manager of the bank -- is still at large. The fraud came to light last month when the Corporation found huge sums of money missing from its various accounts in the PNB branch, an officer of Crime Branch wing of the police said. An FIR was immediately lodged and in view of the amount involved, of Rs 12.68 crore, the probe was transferred to the Crime Branch, the officer said. Initially, the Corporation believed that the swindled amount was over Rs 15 crore, but subsequently, its audits revealed that Rs 12.68 crore was missing from its accounts in the bank. Besides the Corporation, around Rs 18 lakh was also stolen, allegedly by the former bank manager, from the account of a private individual, the officer said. He said that their investigation has revealed that most of the money -- around Rs 10 crore -- was invested in the s
 "Over Rs 12 crore swindled from Kozhikode Corporation accounts in PNB")
ICICI Bank, Axis Bank likely to raise Rs 5,000 cr each via bond sales
ICICI likely to issue long-term bonds, Axis mulls infra bond sale
 "ICICI Bank, Axis Bank likely to raise Rs 5,000 cr each via bond sales")
MFI recovery, credit cost moderation key triggers for Bandhan Bank
Stock has sharply underperformed peers and is available at reasonable levels
 "MFI recovery, credit cost moderation key triggers for Bandhan Bank")
Reserve Bank of India issues framework for Indian banks' foreign biz
The framework also specifies the applicability of these instructions to International Financial Services Centres in India, including Gujarat International Finance Tec-City
 "Reserve Bank of India issues framework for Indian banks' foreign biz")
Excess credit growth to limit Indian banks' loss-absorbing ability: Fitch
Rating agency warns capital base of PSBs may come under greater strain
 "Excess credit growth to limit Indian banks' loss-absorbing ability: Fitch")
ESMA to derecognise CCIL: Banks, RBI discuss alternative clearing methods
Fresh clearing options came up in discussions with RBI, banks in touch with offshore regulators
 "ESMA to derecognise CCIL: Banks, RBI discuss alternative clearing methods")
Kotak Mahindra Bank arm to raise up to $1 billion for data centres
The firm did not reveal the fundraising plan, but sources said the lender planned to raise $500 mn-$1 billion
 "Kotak Mahindra Bank arm to raise up to $1 billion for data centres")
Savings deposit growth in Q2 slumps to 9.4% YoY while FDs gain traction
Growth of money kept in current accounts moderated to 8.8% this September, from 17.5% a year ago
 "Savings deposit growth in Q2 slumps to 9.4% YoY while FDs gain traction")
Uttar Pradesh govt asks commercial banks to step up credit flow
The UP government has said unless the credit flow is equitable across the different regions, the goal of a $1-trillion economy would remain elusive
 "Uttar Pradesh govt asks commercial banks to step up credit flow")
UTI AMC, Punjab National Bank shares jump on the stake sale plans
The stake is valued at around Rs 1,437 crore at UTI AMC's last closing price of Rs 743.5
 "UTI AMC, Punjab National Bank shares jump on the stake sale plans")
RBI permits banks to open 12 special vostro accounts for trade in rupees
So far, not a single overseas trade transaction directly involving the rupee has taken place
 "RBI permits banks to open 12 special vostro accounts for trade in rupees")
HDFC Bank awaiting RBI reply on subsidiary stake forbearance: Parekh
According to HDFC's latest annual report, the mortgage lender has over 10 subsidiaries, including HDFC Life Insurance, HDFC Ergo General Insurance, and HDFC Asset Management
 "HDFC Bank awaiting RBI reply on subsidiary stake forbearance: Parekh")
HDFC Bank elevates Bharucha as Deputy MD, appoints Zaveri as ED
Decision comes ahead of merger; RBI had halted move ahead of Aditya Puri's retirement
 "HDFC Bank elevates Bharucha as Deputy MD, appoints Zaveri as ED")
Have Rs 2.5 trillion worth of corporate loans lined up, says SBI chairman
Banking system much better placed in terms of risk assessment
 "Have Rs 2.5 trillion worth of corporate loans lined up, says SBI chairman")
Banks' overnight SDF balances eligible for LCR computation: RBI
Circular embraces all commercial banks, leaves out local area banks, RRBs and payments banks
 "Banks' overnight SDF balances eligible for LCR computation: RBI")
Regulating NBFCs like banks to impair lending model: FIDC to FM Sitharaman
According to the memorandum, if NBFCs are to be regulated like banks, then the typical NBFC model of lending will suffer which will have an impact lending to the unbanked/ underbanked segment
 "Regulating NBFCs like banks to impair lending model: FIDC to FM Sitharaman")
Banking funds could outperform if economic recovery continues unimpeded
Global factors causing a slowdown and overexposure to this sector are key risks
 "Banking funds could outperform if economic recovery continues unimpeded")
Expect 25% slippages from restructured book: South Indian Bank MD & CEO
The bank is targeting double digit growth, Murali Ramakrishnan, MD & CEO of South Indian Bank said
 "Expect 25% slippages from restructured book: South Indian Bank MD & CEO")
Six years after demonetisation, deployment of ATMs set for biggest spike
ATM deployments had hovered between 225,000 and 235,500 units, before sniffing the 260,000-mark recently
 "Six years after demonetisation, deployment of ATMs set for biggest spike")