PNB Housing Finance expects to disburse Rs 13,000 crore loan this fiscal: MD and CEO Neeraj Vyas
Demand from mass housing statement has started picking up post relaxations in coronavirus-induced lockdowns and gradual reopening of economy, he said.
HC queries Centre, RBI on different treatment to PMC Bank depositors vis-a-vis Yes Bank
The court noted that as per a March notification issu...
Digital payments grew 46% in FY20, beats state-set target: MeitY to banks
These include transactions on a wide range of digital channels moni...
Punjab National Bank declares its Rs 3,688 crore exposure to DHFL as fraud
The state-run lender said the company was being reported as a fraudulent account to the RBI.
Economy likely to turn around much quicker than expected: KV Kamath, Former President, New Development Bank
Jobs are returning, farm output is expanding, and the extent of leverage for 80 of the 100 top companies remains rather low, says KV Kamath, Former President, New Development Bank
Axis Bank to close British subsidiary, focus on Indian business
"In line with this objective, the bank has taken a decision to fully wind down and close the operations of Axis Bank UK Ltd, a subsidiary of the bank, and targeting for surrendering of the banking licence by end of April 2021," bank said in regulatory filings at stock exchanges late on Thursday after closing hours.
Will be mindful while dealing with highly-leveraged companies: Uday Kotak
Indian banks are facing uncertainty with the Reserve Bank of India providing moratorium on payments for six months. But at the same time many private lenders such as Kotak itself Bank and Axis Bank and ICICI Bank are raising capital to meet unforeseen surge in defaults.
Foreign banks fret over RBI’s proposal for a board in India
The foreign lenders are flummoxed by the regulator’s suggestion to form board of directors in India.
Bank credit grows by 6.13 per cent to Rs 102.91 lakh crore, deposits 11.04 pc: RBI data
In the previous fortnight ended June 19, 2020, bank credit had grown by 6.18 per cent and deposits at 11 per cent. For May, the non-food credit growth decelerated to 6.8 per cent year-on-year from 11.4 per cent in the same period last year, as per the data. The outstanding incremental non-food credit stood at Rs 90.3 lakh crore as of May 22, 2020 as against Rs 84.51 lakh crore on May 24, 2019.
India's financial system sound, lenders should not be extremely risk averse: RBI Guv
In his foreword to the bi-annual Financial Stability Report (FSR), Das said the top priority right now for banks and financial intermediaries should be for augmenting capital levels and improve resilience.
Policy on moratorium extension a key issue for Indian economy, says Christopher Wood
"A critical question for the banks, the property market and indeed the economy is now whether the moratorium is extended yet again...Still until proven otherwise, investors should probably assume that the moratorium will be extended for another four months to the end of the calendar year," said Wood in the note titled 'Greed & Fear'.
Bank credit grows 6.18%, deposits 11%: RBI data
Rating agency Crisil in a recent report said bank credit growth is likely to nosedive to a multi-decadal low of 0-1 per cent in 2020-21 as economic activity is sharply impacted by the COVID-19 pandemic.
Bandhan Bank, small finance banks emerge as job creators amid coronavirus pandemic
These lenders are in the process of raising staff strength by 5-10% in the next three-four months, although several others in the sector might be more circumspect. The new workforce will largely be deployed for client servicing and to boost repayment, people familiar with the matter said.
Banking Act amendment is credit positive for depositors, says Moody's
Yes Bank was the latest to be put under moratorium on March 5 after it failed to raise capital in time. Depositors could not withdraw more than Rs 50,000 from their accounts. Also, electronic transactions to and from Yes Bank accounts were frozen, causing some borrowers to miss their monthly payments. Moody's said the new amendments will help depositor confidence.
Cooperative banks brought under RBI supervision
The Union Cabinet approved inclusion of co-operative banks under supervisory powers of the Reserve Bank of India, while announcing a Rs 1,542 crore year-long interest subvention scheme for micro loan borrowers.