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.
BUSINESS
As the year of digital revolution in banking comes to an end, what lies ahead?
Banks will look at finding their niche but focus will remain on their core lending and deposit business
BUSINESS
Insolvency and Bankruptcy Code: What has been done and what lies ahead?
More than a year after the Insolvency and Bankruptcy Code (IBC), 2016, was put in place, here is a look at the emerging trends of the cases in the courts so far.
BUSINESS
Year 2017: Ed-tech startups took the B2B route to survive in a tough mkt
Funding in Indian ed-tech sector slid to USD 90 million in the first half of 2017, from USD 104 million in the same period of 2016.
BUSINESS
Jobs vs tech: SBI turns to special skills for hiring, boosting mid-level headcount
SBI Deputy MD Prashant Kumar says the bank will focus on special skills for jobs, but succession planning, missing middle are big challenges.
BUSINESS
RCom announces new resolution plan — to cut debt by Rs 39,000 cr with zero write-off for lenders
The plan involves exiting strategic debt restructuring (SDR) and monetising some of the company's assets, including transfer of spectrum liabilities by March 2018.
BUSINESS
Banking wrap: RBI dispels rumours of bank closures, warns of rise in NPAs
The RBI was in the thick of action this week. WhatsApp rumours and NPA troubles, among others, kept the central bank busy.
BUSINESS
WhatsApp lies again: No banks are closing down and your deposits are safe
The Reserve Bank of India issued a clarification after spotting some misinformed messages circulating online about the closure of some public sector banks after being placed under Prompt Corrective Action.
BUSINESS
Risks to banking sector remain elevated, gross NPAs likely to rise to 10.8% by March: RBI
The report highlighted that the overall risks to the banking sector "remained elevated due to asset quality concerns".
BUSINESS
ATM breach: How to take precautions pre and post debit or credit card use
Earlier this week, about 40 people who used a Kotak Mahindra Bank ATM in Mulund (East), lost a total of around Rs 14.80 lakh fraudulently withdrawn from their bank accounts in three days from Sunday to Monday.
BUSINESS
MPC minutes: Risks to inflation, fiscal uncertainty to keep RBI alert, says Patel
The MPC met on December 5 and 6 to announce a status quo in the key policy repo rate at 6 percent. Next policy is on February 6 and 7, 2018
