BUSINESS
Analysis | Bandhan Bank Q4 numbers mirror the stress on its books; the worst isn't over
Bandhan Bank could see stress at an elevated level in the next two quarters before things improve, considering the impact of COVID second wave on small borrowers, who form a significant part of the bank's customer base.
BUSINESS
Can RBI's COVID-19 measures help smaller lenders survive the second wave?
The industry has welcome the RBI measures but there is a fear that if lockdowns do not end soon, the sector may face a deeper crisis. In fact, lockdowns have already started hitting MFI operations.
BUSINESS
MFIs welcome RBI decision to give priority tag for SFB loans to smaller microlenders, but want more
Many MFIs reported normal collection levels in the early part of April but it was slowing down as livelihoods of borrowers were getting hit and they were conserving cash
BUSINESS
Explained | Did RBI governor announce a new loan moratorium and other questions answered
The RBI has not announced a blanket moratorium like it did in 2020 but has allowed borrowers time to repay and restructure loans. Read on
BUSINESS
RBI Governor Shaktikanta Das launches second round of loan restructuring, other relief measures to counter Covid second wave
The RBI will continue to monitor the emerging COVID situation and deploy all instruments at its command to support the financial sector, RBI Governor Das has said.
POLITICS
Assembly elections 2021 | What awaits the Congress party in Kerala?
It is doubtful whether the Congress-led UDF, in the current form, can make a good opposition. It will need to repair the internal damage and emerge stronger to play a constructive opposition.
BUSINESS
Hit hard by second COVID wave, MFIs seek loan restructuring and fresh liquidity support from RBI
Compared to the first wave, the second had hit a larger number of MFI staff and created fear among employees, MFIs told the RBI at the meeting.
BUSINESS
EXCLUSIVE| Srei Group's lenders lift salary cap of top executives, may pay arrears soon
On March 17, Moneycontrol first reported about the lenders move to cap the top executive salaries.
BUSINESS
Uday Kotak says bank is prepared for a succession plan after his term ends in December, 2023
Kotak is at the top post of the bank since 2003-2004, when the bank started operations.
INDIA
In Kerala, it is time for the old Congress guard to make way for the young
The state’s senior Congress leadership, largely under the thumb of Mullappally-Chennithala-Chandy trio, has failed miserably to get the party combat-ready against the might of the Left Democratic Front
BUSINESS
Banking Central | Why are banks silent on coronavirus data of their employees?
Bank employees are susceptible to infection because of the nature of their work. Banks must share information on how coronavirus has affected their staff, so that steps can be taken to ensure their safety.
INDIA
Kerala poll outcome puts cold water on Twenty20’s bigger ambitions
The party’s experiment in local body elections worked well but that wasn’t enough to compete in state elections where local elements are only a part of the deciding factors.
POLITICS
How 'captain' Pinarayi Vijayan led LDF to historic win in Kerala
Vijayan consolidated the image of the party as a forward-looking, reform-oriented and no-nonsense administration through multiple crises. A weakened, divided opposition helped the party.
BUSINESS
T Rabi Sankar to succeed B P Kanungo as RBI deputy governor
RBI has four deputy governor posts of which fell vacant due to Kanungo's retirement. The other three deputy governors are Mahesh Kumar Jain, Michael Patra and M Rajeshwar Rao.
BUSINESS
Analysis | Yes Bank's Q4 numbers reflect a worrying picture of its actual stressed assets
The bank has written off Rs 10,323 crore of loans in the fourth quarter compared with Rs 1,747 crore in Q3 of FY21. The gross non-performing assets stand at 15.41 percent compared to 15.36 percent in the preceding quarter.
BUSINESS
Exclusive Interview | It hurts when something like this happens, says Samit Ghosh, Founder Ujjivan, on minority shareholders rejecting his appointment as MD & CEO
The veteran banker says it is a lesson that they should not have taken their eyes off the ball and should have maintained relations with their investors. `At the end of the day, being a holding company, we cannot directly intervene in the bank’s operations. But definitely, I will be actively in touch with the investors,' says the Non-Executive Chairman of Ujjivan Financial Services
BUSINESS
Ujjivan Financial Services' minority shareholders reject special resolution to appoint Samit Ghosh as MD&CEO
Ghosh, who will continue as the chairman of the company, told Moneycontrol that minority shareholders were probably upset with the share price performance during the COVID period.
BUSINESS
After NBFCs, MFIs raise alarm on COVID second wave, seek fresh liquidity support
In a letter to the FM, Sa-Dhan said the second wave of COVID pandemic has begun hurting the operations of microlenders.
BUSINESS
Explained | How new RBI rules change the way auditors function in banks
The role of auditors has been questioned repeatedly whenever bank frauds have happened in the past, including during the infamous PNB fraud and YES Bank, IL&FS episodes.
BUSINESS
Can big private banks’ aggressive retail bet go wrong?
Banks are aggressively shifting to retail loans, which makes sense at this point. But, the bet could boomerang if COVID second wave gets prolonged and vaccination drive doesn’t progress as planned.
BUSINESS
Axis Bank receives Rs 3,004 crore worth loan recast requests under COVID framework, implements Rs 623 crore so far
The bank expects some near-term impact from COVID-19 second wave but will look for growth opportunities in both secured and unsecured book, the management said.
BUSINESS
RBI’s 15-year tenure cap: These are the CEOs who will be impacted
Among those who will be affected by the new rule, though not immediately, are Kotak Mahindra Bank’s Uday Kotak, Bandhan Bank’s Chandra Shekhar Ghosh and AU Small Finance Bank's Sanjay Agarwal. How exactly will the new rules affect their tenures? Read on to find out
BUSINESS
Will new RBI rules on promoter-CEO tenure impact Uday Kotak?
The RBI rules allow Uday Kotak to continue till January 1, 2024 . However, the regulator has given a signal to the bank to plan the transition process.
BUSINESS
New RBI rules: Aditya Puri’s record as bank CEO with longest reign will now be unbroken
After a 26-year long tenure, former HDFC Bank boss Aditya Puri stepped down last year handing over the baton to Sashidhar Jagdishan.
