BUSINESS
MC Exclusive | HDFC-HDFC Bank merger to lead to bigger growth opportunity; will not take executive role, says Keki Mistry
HDFC on April 4 said its board has approved the merger of its wholly-owned subsidiaries HDFC Investments Limited and HDFC Holdings Limited with HDFC Bank Limited. As part of the plan, HDFC will acquire 41 percent stake in HDFC Bank through the transformational merger.
BUSINESS
Banking Central | Dear bank customer, think again lest you hit that link
Rising cases of online frauds, phishing attacks pose important questions on the cyber security in banking channels.
BUSINESS
Banking Central | How costly are the ‘haircuts’ for bankers in IBC?
Even with lower recoveries, IBC remains banks’ best bet at this point when it comes to resolution of problematic corporate loans
BUSINESS
Jayanth Varma Exclusive Interview | Dissent is healthy; I approach MPC deliberations with a great deal of humility
India’s central bank increased the repo rate by 25 basis points to 6.50 percent earlier in February to fight persistent higher inflation. This was the sixth straight hike in 10 months.
BUSINESS
Rising from the ashes: The fall of Trident and rise of Pradakshana
Trident Microfinance, the only major MFI that had to shut shop following the 2010 microfinance crisis in Andhra Pradesh, is quietly back in business in a new avatar and with a new business model. Trident’s founder Kishore Kumar Puli isn’t willing to give up on his dream
BUSINESS
MPC minutes show the house is still divided
Much of the rate hikes may have come to an end already. While rate cuts are clearly off the table this year, the panel may enter into a phase of prolonged pause soon. Question is how soon.
BUSINESS
MPC minutes: Inflation is easing, 25 bps rate hike unwarranted, says member Jayanth Varma
In the February monetary policy, the central bank increased the repo rate by 25 basis points to 6.50 percent to fight against the persistent higher inflation. This was the sixth straight hike by the central bank in the last 10 months
BUSINESS
Banking Central | Why Telangana HC verdict on MFI regulation is important
The Andhra Pradesh microfinance crisis had a devastating impact on several microfinance companies, ended livelihoods for hundreds of employees and denied credit access to thousands of poor borrowers. The HC order may not compensate them but its never too late for a corrective action.
BUSINESS
Telangana High Court says state can't control RBI-registered MFIs
The order came on a case filed by industry body MFIN against the state money lending act enacted by the erstwhile Andhra Pradesh government
BUSINESS
Banking Central| A good year ahead for bank depositors
Over the last few months, most banks have increased their deposit rates. The trend is likely to continue as banks strive to wedge the gap between credit and deposit growth.
BUSINESS
Quick View | RBI's Das just acknowledged FM Sitharaman’s memo on rate hikes
Das likes to keeps his cards close to the chest, but the MPC may have no more room to hike rates, particularly after the nudge from the government which is batting for growth.
BUSINESS
RBI Policy: MPC hikes repo rate by 25 bps, cautious on inflation but focus back on growth
Since last May, the MPC has hiked the policy rates by 250 bps to fight a persistently high inflation. With this round of rate hike, the MPC is likely to have reached the end of the rate hike cycle, according to experts
BUSINESS
Banking Central | FM Sitharaman just nudged RBI to prioritise growth, without saying it
Will the FM comment could influence the MPC’s rate hike approach ahead? A 25 bps rate hike appears certain this week but that could very well be the end of the current rate hike cycle.
BUSINESS
RBI looking at banks' exposure to Adani group companies, seeks present status: Sources
The RBI has already reached out to some of the major banks which are the lenders to the Adani Group and is engaging with lenders to verify the exposure details, one of the person quoted above said.
BUSINESS
Budget 2023: What FM Sitharaman missed on banking in her 87-minute speech
Crypto and bank privatisation —two major items that had found place in Sitharaman’s previous Budget speech — were missing this time. There wasn’t even a mention. What does it mean? Read on
BUSINESS
Banking Central: The two key lessons from the GTL corporate loan fiasco that bankers forgot
The Rs 4760 crore GTL fraud isn’t the first where banks fail to assess and monitor the end use of big corporate loans. In most likelihood, it is unlikely to be the last too.
BUSINESS
Rs 4,760 crore bank fraud: CBI registers case against GTL Ltd directors, bankers
Enquiries revealed that GTL was extending advances to vendors year on year without supply of material and goods. Around 24 banks have together lent money to GTL that include Canara Bank, Dena Bank and ICICI Bank among others.
BUSINESS
Exclusive: Videocon loan case: Dhoot co-founded NuPower at own office address, documents reveal
Dhoot’s Supreme Energy was incorporated just six months before Deepak Kochhar’s NuPower at the same address in 2008, indicating their association before the alleged loan scam.
BUSINESS
Banking Central | Yes Bank AT1 bond holders knew the risks, they simply ignored it
Retail investors in bonds and debentures are generally supposed to be savvier than retail stock investors. Hence, they have to take part of the blame.
BUSINESS
MC Explains | The Yes Bank AT1 bond and why Bombay High Court refused a write-off
The issue, however, is far from resolved. On January 21, Yes Bank said it will move the Supreme Court against the high court order, starting another round of legal battle
BUSINESS
The great Indian banking baraat: Megaphones, grand processions, music—all to lure the elusive depositor
Bankers are running baraat-like shows on streets in a desperate bid to garner deposits. Is making a show to market deposit products a new norm?
BUSINESS
Budget 2023 | Can FM Sitharaman crack the Crypto code in the Budget?
The finance minister has a golden opportunity to set the tone for crypto regulation taking cues from the Reserve Bank of India’s clear messaging on crypto dangers.
BUSINESS
Banking Central | Bank bad debt load would look scary sans huge corporate loan write-offs
The amount of money written off largely comprises of loans given to corporate borrowers
BUSINESS
PTC Financial Services under RBI scanner as corporate governance issue lingers
The PFS management has dismissed the findings of a forensic audit, citing views of E&Y and a former chief justice of India.
