BUSINESS
RBI introduces Internal Ombudsman Scheme for stronger redressal of banks' customer complaints
The central bank has directed banks with over 10 banking outlets to appoint internal ombudsman, which will be monitored by the bank’s internal audit mechanism apart from regulatory oversight by RBI.
BUSINESS
This week in banking: Cash remains the king post demonetisation, says RBI
As the RBI report points out, household financial savings are the most important source of funds for investment in the economy
BUSINESS
RBI leaves the sword dangling over Yes Bank CEO Rana Kapoor’s tenure
The way RBI has worded the communication suggests that the full three-year term as proposed by the bank's board and shareholders is yet undecided
BUSINESS
Missing bosses of large Indian banks may delay efficient functioning
When several banks are headless, the Reserve Bank of India (RBI) and the government are going slow on appointments and approvals of the CEO and Managing Director positions
BUSINESS
Bad loans may rise in 2018-19 from current levels: RBI annual report
Credit growth was largely driven by private sector banks, which were resilient in the face of these tectonic shifts like demonetisation, RBI says in the report
BUSINESS
Nearly 99.3% of demonetised money was returned, shows RBI annual report
The completion report comes after almost two years after the demonetisation was announced on November 8, 2016
BUSINESS
Banks fear more losses as stressed power assets are set to hit bankruptcy courts in 15 days
Allahabad HC judgment is also likely to impact further investments in power sector, which witnessed a significant capacity expansion during the past 6-7 years
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
SBI posts Rs 4,876 crore net loss for Q1 on treasury losses, higher provisions
The state-owned bank had reported a net loss of Rs 7,718 crore for the March quarter. In June quarter last year, SBI had reported a net profit of Rs 2,005.5 crore
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.
