Page 4 - Indian Lenders

Technical snag hits UCO Bank's IMPS; impact yet to be ascertained

As a precautionary measure the bank has made the IMPS channel offline

Lenders and CIC to pay Rs 100 per day for record update delay: RBI

The compensation provided to the complainant will be apportioned among the concerned lender and CIC proportionately

Fino Payments shares recover after 'funds misappropriation' allegation

Lender says action by some employees will not impact it; conducts internal investigation

Lenders should release property docs within 30 days of loan repayments: RBI

For delays, attributable to the REs, beyond 30 days, they will compensate borrowers at a rate of 5,000 per day for each day of delay

Byju's makes a surprise $1.2 billion repayment proposal to lenders

Byju's and its lenders have been mired in a conflict for almost a year, during which rounds of negotiations to revamp its loan agreement have failed

Banks seek higher supply of longer-tenure bonds in the second half

A trader at another PD said that the introduction of 20-year bonds seems unlikely

Lenders need to make software tweaks, borrower engagement for RBI Rules

Mere communication of rules for reset and choice fixed rates via channels including email would not be enough

Lenders can impose penalty on defaults only as 'penal charges': RBI

Regulated entities are barred from imposing such charges in the 'penal interest' that is added to the rate of interest charged on the advances

Troubled Byju's misses target to amend its $1.2 billion loan terms

The company failed to decide on revisions sought by lenders in the loan's terms, including part repayment and higher interest payment

HDFC Bank overtakes SBI in CRISIL's corporate banking ranking for 2023

For middle market corporates, HDFC Bank again topped the list of 2023 Leaders among local banks, and joined ICICI Bank as the year's joint Greenwich Quality Leaders

Edtech major Byju's, lenders agree to amend terms for $1.2 billion loan

Houlihan Lokey serves as financial advisor to the term loan lender group and Kirkland & Ellis LLP, Cahill Gordon & Reindel LLP, and Shearman & Sterling LLP are serving as legal advisors

Tamilnad Mercantile Bank Q1 results: Net profit up 12% to Rs 261 crore

The bank's total income during the period was up by 16 per cent, from Rs 1,142 crore in June 2022-23 to Rs 1,323 crore in the fourth quarter of FY24

IDFC First Bank looks to raise Rs 2,000 crore in second half of FY24

IDFC First Bank has board approval to raise 40 billion rupees. It has already raised close to half that amount through a preferential allotment to IDFC Ltd

Karur Vysya Bank Q1 results: Net profit rises 57% to Rs 359 crore

Private sector lender Karur Vysya Bank on Monday reported 57 per cent rise in net profit at Rs 359 crore for June quarter due to decline in bad loans and increase in interest income. The Tamil Nadu-based lender had posted a net profit of Rs 235 crore in the year-ago period. Total income during the quarter under review increased to Rs 2,216 crore from Rs 1,673 crore in FY23, Karur Vysya Bank said in a regulatory filing. Interest earned by the bank grew to Rs 1,883 crore over Rs 1,474 crore in June quarter a year ago. The bank's asset quality showed improvement as gross Non-Performing Assets (NPAs) declined to 1.99 per cent of gross advances by the end of June 2023, from 5.28 per cent as of June 2022. Similarly, net NPAs or bad loans eased to 0.59 per cent as against 1.93 per cent a year ago. However, Capital Adequacy Ratio of the bank declined 17.67 per cent from 18.98 per cent in the same quarter of FY23.

Indian lenders want RBI to conduct more overnight reverse repo auctions

The Indian central bank has been conducting shorter duration two-day VRRRs through the week, before being prompted by lenders to resort to an overnight auction

For advising on $64 billion HDFC Bank deal, bankers get a 0.0002% fee

HDFC's all-stock merger into HDFC Bank Ltd., which created one of the most valuable banks in the world, has about 18 advisers who got credit for a fee pool of just over $1 million

Banking beyond weather reports: Why lenders need a green business strategy

Indian lenders have yet to train their employees to assess credit risks arising from climate change

Reliance in talks with lenders for $2 billion loan to fuel expansion

Ambani is raising funds as he continues to build out the telecoms and consumer-facing arms of an empire based on a bedrock of crude-oil refining

Warburg Pincus acquires 90% stake in Vistaar Finance for $250 million

Private equity major Warburg Pincus on Monday announced that it has acquired a 90 per cent stake in non-bank lender Vistaar Finance for USD 250 million. The stake in the 13-year-old company has been acquired through a combination of primary and secondary investments, the PE major said in an official statement. The acquisition has been done in partnership with banker Avijit Saha, who joins the company as the chief executive, it said. This is one of the biggest financial sector bets taken by Warburg in the country, adding that Vistaar presently operates in 12 Indian states and has a customer base of 40,000 and over 2,500 employees. The stake has been acquired by Warburg from existing investors and the founders. The company had over Rs 3,150 crore of assets under management as of end-March, and its networth has increased to Rs 1,210 crore after the transactions with the overall capital buffers at 37 per cent, it said. Warburg Pincus' managing director Narendra Ostawal said Vistaar h

Russian firms investing rupee surplus in Indian govt debt: IBA chief

IBA chief Sunil Mehta is the first senior official to confirm that Russian funds in Indian banks were being invested into government securities as it gives them the advantage of easy liquidity