BUSINESS
Lenders to Essar Steel will only accept Ruias' offer only if court orders
For now, lenders have rejected Ruias' offer and approved the bid by ArcelorMittal Rs 42,000 crore - with an additional Rs 8,000 crore equity infusion into Essar Steel
BUSINESS
Banks might look at floating rates on deposits, but will depositors agree?
While banks do offer certain floating interest rate options on deposits, it is not yet prevalent in the market
BUSINESS
New floating rate for loans: More transparency, but your EMIs will change often too
For borrowers, the new framework is aimed at making loan pricing more transparent. But it may also mean more volatility in their EMIs
BUSINESS
RBI policy: MPC keeps repo rate unchanged at 6.50%
All six members of the MPC, which is headed by RBI Governor Urjit Patel, voted in favour of keeping the repo rate unchanged
BUSINESS
RBI credit policy: 4 key things to watch out for
Monetary policy stance or the tone of the policy could turn less hawkish, experts said
BUSINESS
New IL&FS board outlines cost cutting, asset sale initiatives in progress report to NCLT
The new board had taken charge after NCLT approved a resolution of the liquidity crisis at IL&FS given its huge debt of Rs 91,000 crore.
BUSINESS
RBI credit policy: Status quo likely; lower inflation, slower growth may change tone of policy stance
If expectations come true, after a three-day meet from December 3 to 5, the 6-member Monetary Policy Committee will keep its key policy repo rate unchanged at 6.5 percent
BUSINESS
HDFC Bank to revert to old mobile app version by Dec 4, relaunch update soon
The private sector bank has about 4.3 crore customers, of which about 6.5 lakh were unable to use the mobile banking app services due to a technical issue in its new app
BUSINESS
Banking weekly wrap: Banks may soon ask you to pay up for cheque book, ATM cards
Certain services may become costlier as banks may not only ask customers with minimum-balance accounts to pay up for free services like chequebooks and ATM cards
BUSINESS
Independent directors have role of knowledge, scale and input; but don't push too hard: Uday Kotak
"The role of management is to run and execute and come out with a whole business strategy and everything else. The role of board is to challenge it and govern it," he said.
BUSINESS
Time to make integrated reporting of financial, non-financial info mandatory: Former RBI board member
He pointed out it takes both financial and non-financial information as a combination to report to shareholders to address their concerns.
BUSINESS
Yes Bank promoters initiate settlement process, list out conditions ahead of Dec 13 board meet
Rana Kapoor has reached out to the second largest shareholder Madhu Kapur to arrive at a consensus to appoint members on the board.
BUSINESS
SBI, Bank of Baroda, Dena, Andhra put up NPAs worth over Rs 7,500cr for sale
SBI, Bank of Baroda, Dena Bank and Andhra Bank will sell a large part of their NPAs to accounts undergoing resolution at various insolvency courts
BUSINESS
Banking wrap: Fears of 50% ATM closure raises DeMo fears, regulatory intervention needed
Some fear this could lead to more visits to bank branches or hoarding of cash at home as ATMs are frequently used by depositors
BUSINESS
ATM shutdown fears trigger operational cost vs consumer convenience debate
Cash withdrawals are rising despite a decline in ATM addition. This brings to the fore fears of a cash-crisis-like situation
BUSINESS
IDBI Bank puts IDBI Federal Life Insurance stake sale on hold till LIC acquisition concludes
Due to lack of clarity on the stake sale in IDBI Bank, there was an impact on the business of its life insurance joint venture: IDBI Federal Life
BUSINESS
Mauritius SBM Bank appoints former Axis Bank executive Sidharth Rath as CEO
Rath has spent 17 years with India’s third-largest private sector lender across various roles and verticals and more than 26 years of industry experience.
BUSINESS
RBI, govt find middle ground but jury on financial stability yet to be out
While some say the RBI was tamed by the government to give up decision making on many issues, others feel the former has stood up to maintain its autonomy on certain issues
BUSINESS
RBI, govt crucial meet today; to discuss rules on capital norms, surplus transfer and liquidity for NBFCs
It remains to be seen if the encounter today will lead to sparks of a new-found bonhomie between the government and RBI
BUSINESS
Weak public sector banks post losses in Q2 as RBI-government fight over regulation
Government owned banks under prompt corrective action framework are struggling with capital requirements and provisions towards bad loans.
BUSINESS
Ujjivan Small Finance Bank mulls demerger, bonus share issue to meet RBI norms
Despite discussions with the RBI over the past two months, the bank's management failed to get any relief and is mulling options to reduce promoter shareholding
BUSINESS
IDBI Bank to receive Rs 20,000 cr from LIC open offer
The government-owned bank, which is under the RBI’s prompt corrective action (PCA) framework, hopes that fresh capital from LIC will hasten the process of cleaning up the bank’s books.
BUSINESS
Little success for banks on NPA resolution until Q2 but better results likely by March
Net NPAs for 36 banks have reduced by Rs 18,921 crore in the three months from July to September. During the same period, gross NPAs have reduced by a mere Rs 5870 crore
BUSINESS
Bank of India hopes to return to profits in Q3
Hopeful of large corporate recoveries worth about Rs 2,000 crore from the accounts under insolvency, Bank of India chief Mohapatra is also banking on recovery from assets put up on sale and one-time settlement of NPAs.
