BUSINESS
High GDP growth in last decade due to indiscriminate lending led to current bad debt crisis: Jaitley
the average growth rate in the 10 years of UPA rule was over 8 percent against the 7.35 percent witnessed in the four-year tenure of the Narendra Modi government
BUSINESS
Tata-backed Resurgent Power beats JSW Energy to win Prayagraj Power assets
Prayagraj, earlier promoted by Jaiprakash Associates, owes over Rs 11,000 crore to lenders
BUSINESS
As RBI's Aug 27 deadline looms, over 60 large stressed loans worth over Rs 3 lakh cr stare at insolvency process
Bankers are attempting to resolve 60 non-performing assets (NPAs) and stressed loan accounts outside of the insolvency process in order to avoid large haircuts or loan losses
BUSINESS
Banks see growth silver lining as marooned Kerala starts to rebuild
Credit growth could grow by 17-21% from 14.2% year-on-year assuming all average rebuilding expenditure by households of around Rs 50,000-Rs 1 lakh per unit is financed by banks
BUSINESS
Banks plan to use data, supply chain information to boost quality of MSME loans
In April-June quarter, bank credit to MSMEs increased on an average by 8.5 percent year-on-year, mirroring the level of growth during April-June 2015
BUSINESS
Banks to float AMC, alternate investment funds for stressed loans in 15 days
The operating guidelines on the Inter-Creditor Agreement (ICA) to get banks on board for faster resolution will be issued in the next two weeks.
BUSINESS
A Rs 500 loan for the paan wala? RBI says this registry will enable 'sachet-sized loans'
The RBI has called for enactment of public credit registry, an extensive database of credit information accessible to all stakeholders to help banks distinguish between bad and good borrowers.
BUSINESS
GST unit cracks down on 3 private banks, 1 payment bank for Rs 100-cr tax evasion
The entities are suspected of evading GST by under-reporting the value of the funds transferred for customers.
BUSINESS
Banks trim overseas operations to focus on improvement in domestic business
As part of the government's effort, reduction in international business is helping lenders improve focus on domestic growth thereby improving their net interest margins and reducing operating expenditure
BUSINESS
HDFC Bank will not have Deputy MD position after Sukthankar's exit: Aditya Puri
Paresh Sukthankar was a contender (for the CEO position), unfortunately he has resigned, MD and CEO Aditya Puri told investors
BUSINESS
Paresh Sukthankar: The conservative and risk-averse HDFC Bank veteran
A veteran in HDFC Bank, Sukthankar was touted to be the natural successor to Aditya Puri, whose term ends in 2020
BUSINESS
SBI puts Jet Airways under watch, classifies airline as potential stress loan
In a conference call, SBI Chairman Rajnish Kumar confirmed that his bank extended loans to the Naresh Goyal-promoted airline, but refused to share the exposure to it.
BUSINESS
PNB aims to garner Rs 8,600 cr via sale of old headquarters, other non-core assets
The government bank expects to raise nearly Rs 700-800 crore from the sale of its earlier head office in New Delhi
BUSINESS
AI wave: Robots are helping change the way you bank
Artificial Intelligence disrupting the banking sector also questions the reliability of the decisions by robots and increases fear of job losses.
BUSINESS
Rs 1.57 crore paid as bonus to top 3 private bank CEOs for previous years
HDFC Bank’s chief Aditya Puri received Rs 92.31 lakh as deferred bonus, Axis Bank's Shikha Sharma got Rs 44.10 lakh, and ICICI Bank CEO Chanda Kochhar was richer by Rs 20.69 lakh.
BUSINESS
PNB posts lower-than-expected Q1 net loss of Rs 940 crore as bad loans decline
Provisions and contingencies met expectations, falling 72 percent sequentially to Rs 5,758 crore. For the year-ago period, the bank's provisions stood at Rs 2,608.7 crore.
BUSINESS
Home loan interest rates will increase slightly, but will be below 9%: Indiabulls Housing Finance
Home loans constitute 60% of the company's portfolio, with the rest almost equally divided between lease rental discounting and corporate or developer loans
BUSINESS
RBI allows banks to co-originate loans with NBFCs to boost priority sector lending
It should also involve sharing of risks and rewards between the banks and the NBFCs
BUSINESS
RBI governor says rate hike is primarily to maintain 4% inflation target
Urjit Patel, who heads the MPC, reiterated its intent to stick to the 4 percent inflation target in a press conference following a three-day deliberation on the interest rate decision.
BUSINESS
ICICI Bank cautions regulatory scrutiny may impact reputation, financials in SEC filing
We are at increased risk for inquiries or investigations by regulatory and enforcement authorities, which may adversely affect our reputation...or adversely affect our ability to conduct business
BUSINESS
Bank of India aims to recover Rs 17,000 cr in FY19, after gross NPAs declined in Q1
The government bank has identified 7-8 accounts worth up to Rs 3,000 cr to transfer to AMC, and Rs 8,000 cr towards ARC sale
BUSINESS
Merger of PSU banks will help conserve resources and talent, says Bank of Baroda CEO
Hints at getting extension at Bank of Baroda to continue as MD and CEO after his 3-year term ends in October 2018
BUSINESS
Axis Bank Q1 profit falls 46% YoY to Rs 701 crore; NPAs improve sequentially
When the Gangotri reduces in size, Ganga is going to thin out. So, the slippages are reduced because the origin point is just much smaller now, says Jairam Sridharan, CFO of Axis Bank
BUSINESS
This week in Banking: ICICI Bank loss, PSU banks profits surprise investors
ICICI Bank, India’s largest private sector lender, on Friday, reported a historic loss of Rs 120 crore for the June quarter ending 2018. Bank of Baroda surprised with an over two-fold jump in its net profit.
