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
RBI Policy: MPC hikes repo rate by 25 basis points to 6.50%
The hike comes at a time when retail inflation has accelerated from 4.87 percent in May to 5.0 percent in June
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
Will RBI hike or hold? Experts think it will be a close call this time
If the RBI's expectation of inflation increases to higher than the prevalent inflation levels, we may see another rate hike on Wednesday
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.
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
