Panel to assess value of assets mortgaged by PMC borrowers
The bank is currently undergoing a forensic audit the report for which will be finalised by the end of this month. But simultaneously, other assets and mortgages are also being identified by investigation agencies and the banking regulator to get back the bank’s dues.
Government borrowing may rise after RBI paused
The Overnight Interest Rate Swap (OIS) with one-year maturity, a derivative gauge where invest...
Altico Capital defaults on Rs 138 crore debt repayment
Altico Capital’s financial stress first came to light in September when it defaulted o...
Bad credit history? You can opt for a payday loan but read this first
A payday loan is an ultra short-term borrowing meant to help the individual tide over a temporary crunch.
Stress in rural households and loan defaults create woes for microfinance sector in Assam
Various organisations in the upper part of the northeastern state have joined the chorus seeking an inquiry into the operation of microfinance lenders as several micro borrowers are said to be exposed to high debt. Reports of unrest have come from various districts of Assam. Indebtedness of micro borrowers in Assam is more than double the national average.
RBI seeks to push rupee in global play
The RBI on Friday relaxed norms for the opening of special non-resident rupee (SNRR) accounts and permitted direct remittance from India into these accounts. SNRR accounts are designed for non-residents to enable them to undertake rupee transactions that are legally permitted.
Banks struggle to resolve stressed accounts, face Rs 30,000 crore provisioning in Q4
The central bank’s June 7 circular requires banks to put in place ICAs within a month of the review period.
Tighter pledging norms hit promoters’ borrowing plans
Mutual funds and NBFCs have been the biggest lenders to promoters in recent years.
Muthoot Finance expects over 15% AUM growth after Q3 and Q4: George Alexander Muthoot
We have already grown by Rs 1,300 crore of portfolio in the last six weeks.
RBI expects forensic audit report on PMC Bank by month-end
The multi-state co-operative bank has been under the RBI restriction since September 23, after it had found financial irregularities, including huge under-reporting of loans and non-performing assets to real estate developer HDIL to the tune of Rs 6,500 crore using hundreds of dummy accounts.
Market worried over fiscal i math, repo-bond yield spread widens
The RBI purchased Rs 3,31,100 crore net of government bonds in 2018-19 through OMOs.
RBI satisfied with pace of monetary transmission
He further said transmission, which was bothering the central bank for a long time, is expected to improve with the introduction of linking loan pricing to external benchmark system, which banks have adopted now.
Better-run banks will get bigger share of deposits
But now, banks penalise a deposit holder for walking into the branch.
Indian government's loan bonanza seen a temporary salve and a long-term pain
Reviving a practice not used in three decades, India's government in September ordered state-run banks to hold more than 400 loan "melas" or fairs across the country over the following month - a measure aimed at boosting economic growth at six-year lows and lending growth at its weakest in three years.
SBI cuts MCLR by 5 bps across all tenors; reduces FD rates as well
The new MCLR rates will be effective from November 10. After the cut, the one-year MCLR stands at 8 percent. According to SBI’s press release, this is the bank’s seventh consecutive MCLR cut during the current financial year.
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