BUSINESS
The turnaround man: MK Jain's journey from fixing a struggling bank to becoming a central banker
Jain's efforts culminated in Indian Bank becoming one of the best-performing public sector banks in the country.
BUSINESS
RBI monetary policy: Rate hike or not, MPC set to indicate rise in interest rates from here on
In its April review, the MPC noted that inflation in the first half of the current fiscal would be in the range of 4.7-5.1 percent and moderate to 4.4 percent in the second half, with risks on the upside.
BUSINESS
Banking sector this week: PSB staff strike impacts cash transactions, ICICI Bank chief on “annual leave” & loan rates hiked
ICICI Bank and other banks followed PNB and SBI to raise lending interest rates, thereby making loans costlier for new and old borrowers
BUSINESS
After SBI and PNB, banks hike loan interest rates; EMIs to go up
On Friday, just after country’s largest lender State Bank of India (SBI) hiked its MCLR by 10 bps across all tenures up to three years, HDFC Ltd, ICICI Bank and Kotak Mahindra Bank also reciprocated by hiking by a similar margin. Punjab National Bank had revised its MCLR on Thursday.
BUSINESS
SBI hikes loan rates by 0.10%, other banks to follow suit
On May 28, SBI had hiked interest rates on its retail fixed deposits for short to medium term by up to 25 bps
BUSINESS
SBI, Power Finance Corp working to resolve 11 power projects under SBI Samadhan Scheme
Last week, SBI said banks will soon come out with a plan to resolve Rs 70,000 crore worth of non-performing assets (NPAs) in the power sector
BUSINESS
Fears of cash-less ATMs rise as 10 lakh banking employees go on a strike over wage hike
The IBA could meet the unions on June 12 to restart wage negotiations. Bank unions are demand a 15% percent as opposed to the meagre 2% offered to them.
BUSINESS
A silver lining: Bank of India first public sector lender to break the rising NPA jinx in FY18
The bank made a stellar recovery of bad loans, to the tune of Rs 11,417 crore, in the fourth quarter
BUSINESS
Bank of Baroda starts process to sell stake in its mutual fund biz
BOB Capital Markets has been hired as the investment banker to manage the stake sale
BUSINESS
Binani Cement lenders vote in favour of UltraTech offer
The bid by UltraTech is nearly Rs 1,000 crore higher than the lead competitor Dalmia Bharat's offer.
BUSINESS
Banking sector this week: Investors cheer Q4 losses in hope that the worst may be past
Shares of SBI have risen over 10.7 percent since Tuesday, the day it announced its results, while those of PNB have shot up by over 11 percent since the fraud-hit bank declared its quarterly numbers on May 18.
BUSINESS
ArcelorMittal and SAIL in possible joint bid for Bhushan Steel
The partnership, which is in the works, could bid for other stressed assets too.
BUSINESS
NPCI appoints Dilip Asbe as MD & CEO ahead of UPI 2.0 launch
Uttam Nayak from Visa was in the fray to take over the position but lost out to the in-house expert Asbe.
BUSINESS
NPCI may soon announce Visa's Uttam Nayak as its new CEO
AP Hota, the first managing director and CEO of NPCI, took over in August 2010 and retired from the position on August 10, 2017
BUSINESS
Banking sector wrap: New Rs 10 notes in the offing, SBI reviews minimum balance
This New Year will soon fetch you chocolate brown (inedible) coloured Rs 10 denomination notes.
INDIA
Here's how the new Rs 10 currency notes will look
The central bank has already printed around 1 billion pieces of the new Rs 10 note, according to reports.
BUSINESS
Haven't been getting new Rs 200 notes from ATMs? Bankers say notes will be available in 2-3 months
Introduced in August last year, the new currency notes are not widely available with the public, pushing RBI to ask banks to start dispensing these notes from their ATMs.
BUSINESS
SBI likely to slash minimum balance requirement for savings accounts
SBI saw backlash after finance ministry data showed that it netted a windfall of Rs 1,771.67 crore as penalty from customers for non-maintenance of monthly average balance in savings accounts during April to November 2017
BUSINESS
RBI asks banks to refrain from filing Jaiprakash Associates in the insolvency court for now
Jaypee Infratech is among 12 large stressed companies in the first list referred to banks by RBI to start bankruptcy proceedings in June 2017.
BUSINESS
Bank rates: Where are lending rates and bond yields headed?
An upward risk to inflation and weaker credit off-take is likely to bottom out the lending rates and borrowers may have to wait for a longer period to see cut in interest rates
BUSINESS
FinMin not in favour of immediate disclosure of term loan defaults to bourses
SEBI had proposed that listed companies should pay the default on a term loan within one working day.
BUSINESS
RBI deadline for 2nd NPA list: Banks still in process of filing 25 of 28 accounts in NCLT
While the NPA clean-up exercise continued its rigour, the work overload and cumbersome out-of-court resolution processes to be completed before December 13 has led banks to complete filing the cases by first week of January.
BUSINESS
SBI gives new year gift to existing borrowers, cuts base rate by 30bps to 8.65%
SBI has also decided to extend on-going waiver on home loan processing fees till March 31, 2018 for new borrowers
BUSINESS
Weekend wrap: 2017 ends with a win-win for the banking sector
The much hyped Insolvency and Bankruptcy Code gets its much needed amendment law and RCom finds buyer to reduce its debt. Also with the year coming to an end Moneycontrol takes a look at the insolvency and digital revolution in India.
