Warning that the banking industry is staring at a potential stress of nearly Rs 55,000 crore in its MSME exposure, Transunion-Cibil today launched a ranking for small businesses to take care of "information asymmetry".
Ajay Srivastava, CEO, Dimensions Corporate Financial Services says this kind of stance in the backdrop of low GDP growth is surprising because one would have liked to see the economy being propelled rather than focusing on inflation
Fresh bad loans moderated in the first quarter of 2016-17 as most banks have improved their recovery process, Reserve Bank Deputy Governor S S Mundra said today.
"We have started the first ATM in the country which operates using the Aadhaar data. One can do a transaction without the card as well," the bank's Managing Director and Chief Executive Murali Natrajan told PTI.
The Athens stock exchange was trading around 19 percent lower by mid-morning on Monday, after falling nearly 23 percent after it reopened for the first time in five weeks.
Global rating agency Moody's has affirmed State Bank of India's (SBI) local and foreign currency deposit ratings at Baa3/P-3. In an official statement, the agency said that the outlook of SBI and its branches is positive.
Mushtaq Ahmad, Chairman and CEO, Jammu & Kashmir Bank says FY15 was a tough and challenging year for the banking industry. Floods compounded the situation further for the bank, he adds.
India's shadow banks, known as non-banking financial firms (NBFCs), are widespread and include housing finance companies and consumer finance firms that lend small sums to individuals.
IT services is the largest overall spending category at almost Rs 15,500 crore in 2014 (33 percent of the entire enterprise IT market) which confirms the interest of the banking industry for IT services which is becoming a leading industry in the country, says Gartner.
Even though the banking industry positively surprised the market this time round, Hemindra Hazari of Nirmal Bang Institutional Equities tells CNBC-TV18 that the situation is likely to worsen going forward.
Not only has RBI hinted at rate hike cycle peaking out after this 25 basis point, it has also moved to deregulate savings rate. While this is revolutionary in action, banks could see their cost of funds going up and they might have to take a beating on margins.
The proposed July 7 nationwide bank strike has been deferred to August 5 in view of the late beginning of the monsoon session of Parliament, the United Forum of Bank Unions (UFBU), which is spearheading the strike call, said today.
M Narendra, Chairman of Indian Overseas Bank, in an interview with CNBC-TV18’s Udayan Mukherjee and Mitali Mukherjee, spoke about the recent happenings in his company and the road ahead.
Sunil Gidwani Executive Director at PwC India said, "Though in terms of fiscal measures, there is no significant proposal in the Finance Bill that could impact the tax regime for the banking industry."
HDFC Bank’s MD Aditya Puri is expecting a maximum 100 basis points hike in prime lending rates, reports CNBC-TV18.