BUSINESS
HDFC Bank board approves raising up to Rs 24,000 crore
Of the total, Rs 8,500 crore will be raised through a preferential issue of shares with a face value of Rs 2 each to parent HDFC.
BUSINESS
What's the cost of a banking complaint? Nearly Rs 4,000, says RBI
Average cost of handling a complaint was Rs 3,780 during 2016-17 which was lower than the average cost of Rs 4,396 during 2015-16 on account of increase in complaints.
BUSINESS
Kotak Mahindra Bank to buy mid-sized stressed assets from IBC but price has to evolve: Dipak Gupta, joint MD
"Loose ends are not necessarily in promoters’ control – service tax dues, labour dues, etc," he says.
BUSINESS
Banking sector this week: Debit card payments turn cheaper; insolvency filing for unresolved NPA cases begins
A quick wrap of key developments in the banking sector this week.
BUSINESS
RBI levies Rs 5 crore penalty on Syndicate Bank for breaching KYC norms
This comes on the heels of RBI fining private sector lender IndusInd Bank Rs 2 crore for non-compliance of asset recognition norms.
BUSINESS
Current account deficit at sustainable levels; India has 'buffers' against shocks: RBI Guv
Ensuring price stability through monetary policy and current account deficit at sustainable levels have enabled us the build-up of “buffers” against unforeseen shocks, according to Reserve Bank of India Governor Urjit Patel.
BUSINESS
No MDR charges on debit card payments up to Rs 2,000 for 2 years starting Jan 1
In an effort to boost digital payments, the Union Cabinet has decided to waive the merchant discount rate (MDR) applicable on all debit cards, BHIM and UPI transactions up to Rs 2,000.
BUSINESS
Solution to stressed assets lies in creating market for resolution: IBBI Chief
The solution to the buying of stressed assets does not lie in allowing tainted persons to come in but a solution lies in creating a market to arrive at a resolution, according to MS Sahoo, Chairman of Insolvency and Bankruptcy Board of India.
BUSINESS
NPA deadline ends: Banks brace for provision hit as two dozen cases may go to NCLT
Bankers will soon act on the 28 defaulters identified in Reserve Bank of India's second list and haul them to the National Company Law Tribunal (NCLT) for resolution under the Insolvency and Bankruptcy Code (IBC).
BUSINESS
RBI fines IndusInd Bank Rs 3 crore over compliance issues
For similar reasons, RBI had also imposed Rs 6 crore penalty on Yes Bank and Rs 2 crore on IDFC bank for deficiencies found in regulatory compliance relating to loans and advances
BUSINESS
Govt to relook into insolvency provisions to help bids for smaller companies
In order to help smaller companies the government is reviewing the insolvency provisions, including recent amendments barring defaulting promoters from bidding for their own assets undergoing insolvency.
BUSINESS
Sajjan Jindal tweet calls for uniformity in evaluation of existing promoters of firms in and outside of NCLT
Indian entrepreneur Sajjan Jindal has called for existing promoters who are not willful defaulters to be allowed in the management of companies undergoing insolvency proceedings.
BUSINESS
ICICI Bank, SBI seek to exempt Jaiprakash Associates from RBI’s 2nd list
Bankers to the debt-laden Jaiprakash Associates have reached out to the Reserve Bank of India to keep the company out of the second list to be referred to the insolvency proceedings.
BUSINESS
Repeal Bank Nationalisation Act, trim govt ownership to 25% in PSU banks: Ex RBI advisor
Joshi pointed out how successive Indian governments have been stuck with the idea of 51 percent ownership and have only flirted with the idea of privatization.
BUSINESS
Majority of NPA cases may land up in insolvency courts as deadline for 2nd list nears
Bankers are struggling to find out-of-court resolutions and will soon move involvency courts by this year end to file cases worth over Rs 1.5 lakh crore
BUSINESS
Global investors are reaping benefits of HDFC growth story, not Indians: Uday Kotak
As the chief of the fourth largest private bank, Kotak questioned that allowing global investments has come at a price to the domestic investors.
BUSINESS
Bank loan growth hits 3-year high on base effect; shows early signs of revival
Bank loans rose 9.64 percent YoY to Rs 79.62 lakh crore as on November 24, 2017, compared to 6.6 percent growth in same period in 2016 and 9.3 percent in 2015, shows the latest provisional Reserve Bank of India (RBI) data.
BUSINESS
Debit card transactions to cost lower for customers, but digital players want more from RBI
In order to boost debit card usage for payments, the RBI on Wednesday that it will rationalise the framework for the MDR applicable on debit card transactions.
BUSINESS
NPA divergence disclosures meant to increase transparency, rules remain same: RBI
After a regulatory diktat, Yes Bank, Axis Bank and those mentioned above had reported divergences in their NPAs worth over Rs 12,000 crore cumulatively for the financial year 2016-17. ICICI Bank, Axis Bank and Yes Bank also reported such divergences in 2016-17.
BUSINESS
Monetary Policy: Debit card transactions to get a boost as RBI caps Merchant Discount Rate
The revised MDR aims at achieving the twin objectives of increased usage of debit cards and ensuring sustainability of the business for the entities involved.
ECONOMY
RBI Monetary Policy: MPC maintains status quo; repo rate unchanged at 6%
The central bank marginally raises its retail inflation forecast for the second half of the fiscal year (October-April) to 4.3-4.7%, from the earlier 4.2-4.6% estimates; retains 2017-18 growth forecast at 6.7%
BUSINESS
Is there a case for RBI to cut policy rate on Wednesday?
The fifth monetary policy for the financial year 2017-18 is likely to be a non-event as most experts predict a status quo.
BUSINESS
Recap plan to help banks absorb losses on NPAs. But will it reform banking?
The recapitalisation plan means banks now have more cash in their pockets in order to provide for more loans.
BUSINESS
Recap plan a chance to put all policy pieces of jigsaw puzzle in place: Urjit Patel
Urjit Patel calls it a “real chance” to put in place comprehensive and coherent, rather than piece-meal, strategy to address the banking sector challenges
