BUSINESS
ICICI Bank Q1 loss at Rs 120 crore, first ever since listing; provisions up 129%
The net interest income or NII, the difference between interest earned and expended, stood at Rs 6,102 crore.
BUSINESS
ICICI Bank Q1 preview: Net profit seen down 31%, NPAs may rise
This will be the first results announcement in absence of its CEO and Managing Director Chanda Kochhar, who is on leave pending an independent inquiry into the impropriety allegations against her
BUSINESS
Canara Bank plans to raise Rs 7,000 cr, aims to cut NPAs by Rs 16,000 crore in FY19
Starting July 1, the public sector bank introduced a stressed asset management wing for all assets over Rs 25 crore for specialised attention by the general managers
BUSINESS
RBI must allow microfinance firms to lend to small, mid-sized segments: MFIN President
At present, MFIs can lend 15 percent of their total assets outside the guidelines governing MFI lending. Such loans do not qualify as priority sector lending (PSL).
BUSINESS
Axis Bank after Shikha Sharma: Will it take an outsider to bring the bank back on growth path?
At a time when the entire banking industry is grappling with bad loans menace, the new leader at Axis should not kill the goose that is probably poised to lay the golden egg
BUSINESS
Bad Loan resolution plans set to be made binding on dissenting creditors
Dissenting banks will have option to sell their loans at a discount of 15 percent to liquidation value, or buy the entire portfolio paying 125 percent of the value agreed
BUSINESS
IndusInd Bank to kick off bank results today; may post over 21% YoY rise in net profit
NII is projected to grow 19 percent YoY to Rs 2,128 crore, a Reuters poll showed
BUSINESS
Banking sector woes to continue in Q1; bigger banks to perform better
Mid-sized private lender IndusInd Bank will kick-off the earnings season reporting its first-quarter results Tuesday.
BUSINESS
Rupee attempting to find its true value, but will it sail through the troubled waters?
The Rupee has been the weakest since it had touched the 68.80 level against the US Dollar on August 28, 2013. It closed at 68.95 on July 5
BUSINESS
Banks must comply with 16 SWIFT security principles by December to avoid RBI action
SWIFT was in limelight after it was used to conduct fraud worth Rs 11,000 crore (now risen to Rs 14,000 crore) at Punjab National Bank (PNB) unearthed on February 14 this year
BUSINESS
Risky lending practices, possible job losses may cause home loan defaults: HDFC
Some housing finance companies (HFCs) focusing on the affordable housing segment have shown an above-average increase in delinquencies with gross NPA at 4-5 percent, said a CRISIL report.
BUSINESS
IBBI gives timelines for insolvency process, allows withdrawal of application
Withdrawal of insolvency application will facilitate out-of-court settlement of several disputes. Also, home buyers can now claim their dues at par with financial creditors such as banks
BUSINESS
Govt's 5-pronged strategy on bad loans has near-term challenges
The five-pronged strategy recommended by the panel of bankers for resolution of bad loans is a useful long-term concept, but tighter deadlines and near-term funding challenges remain, say experts.
BUSINESS
Bankers' panel suggests 5-pronged strategy to tackle NPAs, no proposal to create a bad bank
Sunil Mehta-led committee suggests setting up an AMC with equity contribution from banks, foreign funds and infrastructure funds such as the National Infrastructure Investment Fund
BUSINESS
IDBI Bank NPAs could become LIC's non-performing investment, employee unions warn govt
Banking and insurance sector employee unions also warned it could eventually lead to privatisation of the bank and resultant job losses.
BUSINESS
IDBI Bank will get LIC's money, but what more will it need to turn around?
Optimists see the bank's performance turning around in as early as one year, but others believe it will take 3-4 years for LIC to affect a proper turnaround
BUSINESS
Will LIC be able to turnaround IDBI Bank?
IRDAI has given its nod to LIC to hold upto 51 percent stake in IDBI Bank
BUSINESS
ICICI Bank board appoints Girish Chandra as non-executive chairman
The appointment of the new chairman comes at a time when ICICI Bank is battling one of its worst management crises.
BUSINESS
Rupee may apply brakes if it breaks 70/$, say experts
Most of them see the rupee trading in a range of 67-69 for the foreseeable future, or recovering to that range quickly after falling to around 70.
BUSINESS
IDBI Bank real estate assets could make or break LIC deal
LIC is looking to acquire real estate assets of IDBI Bank as part of the majority stake acquisition process.
BUSINESS
With new law in the works, bankers renew hopes of recovering dues from Mallya
Of the total dues, the consortium of 17 banks led by SBI have so far recovered around Rs 400 crore, barely five percent the total outstanding
BUSINESS
Gross NPAs at banks may rise to 12.2% by March 2019, says RBI's financial stability report
Top 100 large borrowers accounted for 15.2 percent of gross advances and 26 percent of gross NPAs of the commercial banks.
INDIA
PM Modi bats for more investments from AIIB, says India is investor-friendly
He called upon the Beijing-headquartered bank to quadruple its financing to reach $40 billion by 2020 and escalate it 25 times to $100 billion by 2025.
BUSINESS
Senior FinMin official says police action in Bank of Maharashtra case technically incorrect
Even when the central government needs to take action against a state government official, the permission of the state government is needed, a senior finance ministry official said.
