Page 43 - Indian Banks
UBS Principal Capital Asia sells shares worth Rs 150 cr in Axis Bank
A total of 3.5 million scrips of the private sector lender were sold at an average price of Rs 428.7 apiece, valuing the deal at Rs 150 crore, according to block deal data on the BSE
 "UBS Principal Capital Asia sells shares worth Rs 150 cr in Axis Bank")
No current accounts for clients with cash credit, overdraft facilities: RBI
In a notification, the central bank said that rather than opening a new current account, all transactions should be routed through Cash Credit (CC) or OverDraft (OD) account
 "No current accounts for clients with cash credit, overdraft facilities: RBI")
No bank licence to India Inc: RBI sees threat to financial stability
The NITI Aayog had recently recommended to the government that long-term private capital should be allowed into the banking sector
 "No bank licence to India Inc: RBI sees threat to financial stability")
Monetary policy: Here's why RBI may go for rate cut on Thursday
BofA says the RBI will not only cut rates now, but will follow it up with another 75 bps cut in rest of the financial year 2020-21 (FY21)
 "Monetary policy: Here's why RBI may go for rate cut on Thursday")
Financial sector firms hit market to prepare for post-Covid world
Most private banks and non-banking firms are able to raise money on the strength of their profile
 "Financial sector firms hit market to prepare for post-Covid world")
Moratorium extension will lead to debt pile-up: Sunil Mehta, CEO, IBA
In an interview, SUNIL MEHTA discusses with Somesh Jha the demerits of extending the loan moratorium window and argues why it is the right time for the regulator to allow banks to restructure loans
 "Moratorium extension will lead to debt pile-up: Sunil Mehta, CEO, IBA")
SBI economists pitch for sector-specific loan recast after moratorium ends
They said the moratorium data is not "significantly perturbing" but hit out against the "spate of unplanned and unintelligent lockdown mania" in many pockets
 "SBI economists pitch for sector-specific loan recast after moratorium ends")
HSBC India's pre-tax profits up 9.5 per cent to $561 million for H1 2020
There was a 67 per cent growth in the allowance for expected credit losses (ECL) to $82 million during the six months as compared with July-December 2019
 "HSBC India's pre-tax profits up 9.5 per cent to $561 million for H1 2020")
Bandhan Bank's main shareholder seeks $1.4 billion in stock sale
Those shares are offered at a floor price of $4.16 each, according to the terms
 "Bandhan Bank's main shareholder seeks $1.4 billion in stock sale")
Bandhan Bank to IDBI Bank: 5 bank stocks that investors are betting on
With new strategies in place, the coming years could be exciting for Bandhan Bank, IDBI Bank, IDFC First Bank, Federal Bank, and CSB Bank
 "Bandhan Bank to IDBI Bank: 5 bank stocks that investors are betting on")
June retail credit grows Rs 11,518 crore after shrinking for 2 months
Outstanding loans to SME remained flat at Rs 3.52 trillion in June, compared to May
Exxon loses $1 bn in second quarter as oil use dries up amid lockdown
The Irving, Texas-based oil giant brought in $32.6 billion in revenue during the second quarter, less than half of what it brought in at the same time last year
 "Exxon loses $1 bn in second quarter as oil use dries up amid lockdown")
Hosiery exporters seek extension of loan moratorium by 6 months up to March
Exporters said the financial position of the knitwear garment units in Tirupur has not improved and they were not in a position to repay the loan and interest
 "Hosiery exporters seek extension of loan moratorium by 6 months up to March")
Moratorium burden easing as Indian economy limps back to normalcy
Agents are now able to pay visits for recovery, and also the economic situation has not turned as dire as feared
 "Moratorium burden easing as Indian economy limps back to normalcy")
Imperative for banks to expand balance sheets: India Ratings report
The RBI's conscious steps to reduce the repo rate have also lowered the marginal cost of fund-based lending rate across banks, ratings agency said
 "Imperative for banks to expand balance sheets: India Ratings report")
Govt stands behind financial sector for India's growth, says PM Modi
Banks, NBFCs give lowdown on credit flow to PM; present ideas on financial inclusion, housing finance
 "Govt stands behind financial sector for India's growth, says PM Modi")
Modi meets heads of banks, NBFCs, bats for lending to productive sectors
According to sources, the importance of the financial sector in achieving the objective of 'Atmanirbhar Bharat' or self-reliant India was highlighted during the meeting.
 "Modi meets heads of banks, NBFCs, bats for lending to productive sectors")
Punjab National Bank raises Rs 994 cr by issuing Basel III compliant bonds
The issue opened on July 27 and closed on July 29, PNB said
 "Punjab National Bank raises Rs 994 cr by issuing Basel III compliant bonds")
Banks need to expand balance sheets, revive credit offtake: Report
The RBI's conscious steps to reduce the repo rate have also lowered the marginal cost of fund-based lending rate across banks, ratings agency India Ratings and Research said
 "Banks need to expand balance sheets, revive credit offtake: Report")
Lower rates an opportunity to re-negotiate your home loan interest
Start by shifting to repo-linked rates, then seek the lowest rate being offered by lender
 "Lower rates an opportunity to re-negotiate your home loan interest")