BUSINESS
RBI monetary policy announcement today at 10 am: Will MPC revise interest rates, inflation target?
RBI Monetary Policy: The MPC will most likely retain status quo on interest rates in this round. But watch out for the inflation forecast.
BUSINESS
PNB never objected to housing finance arm’s deal with Carlyle, only asked it to follow SEBI directions: MD & CEO
CS Mallikarjuna Rao says the bank will follow whatever directions are issued by the appellate tribunal. In an announcement on May 31, PNBHFL had said that Carlyle Group, its affiliates, existing investors, and Puri’s family investment vehicle will invest up to Rs 4,000 crore in the housing finance firm.
BUSINESS
Banking Central | The curious case of Videocon insolvency
The insolvency and bankruptcy code was designed to ensure a meaningful recovery for banks in a time-bound manner and give a graceful exit to promoters but some recent cases have exposed loopholes that allow former promoters to get back control of their businesses
BUSINESS
Over 100 RBI directives on co-operative banks so far in 2021, three licences cancelled; how deep is the mess?
According to senior industry officials and bankers, the high alertness from the central bank, the increased scrutiny and a raft of rule changes are a result of rising number of institutional failures in the co-operative banking industry.
BUSINESS
Kotak Mahindra Bank will not shy away from taking 'bolder bets', says Uday Kotak
During the year, the bank has undertaken a mindset shift to make retail and commercial lending focus, in addition to the corporate and deposit franchise, the veteran banker said in his message at the 2020-21 annual report.
BUSINESS
Exclusive | Lower regulatory costs helped NBFCs scale up over the last decade, says IIFL's Nirmal Jain
The reform progress on some of the sectors like agriculture, power, logistics etc. continues to lag the overall reform momentum. This is partly because these reform measures need a broader Centre-State consensus, the Founder of IIFL Group said.
BUSINESS
Yes Bank, Indiabulls ink pact for co-lending:10 Key questions answered
It was in November last year, the Reserve Bank of India came up with guidelines on co-origination of loans or co-lending of loans under which banks and NBFCs (non-banking finance companies) can lend to priority sector or economically weaker sections. The idea is to encourage credit flow to this segment.
BUSINESS
Explainer | Why a higher insurance cover is big deal for smaller depositors
The government's decision to make available deposit insurance within 90 days is big news for smaller depositors across banks. A series of bank failures and imposition of moratorium by the Reserve Bank of India had resulted in a widening trust deficit among depositors.
BUSINESS
PMC Bank scam case: Rakesh Wadhawan's bail plea denied
Rakesh Wadhawan was arrested in October, 2019, along with Sarang Wadhwan in connection with the irregularities submitted in the Punjab and Maharashtra Co-operative (PMC) Bank case.
BUSINESS
Can a bankrupt Vijay Mallya still live as a baron?
Legal experts have mixed opinions over what the tag of bankruptcy granted by a UK court means for Vijay Mallya.
BUSINESS
Analysis | NPA woes continue for banks, NBFCs in Q1; will the next quarter be better?
For the banks, the hit on the books has been softer than 2020, still, the second wave has affected collections and recoveries at all levels. NBFCs, however, have been hit harder
BUSINESS
All eyes on Dhanlaxmi Bank Board meeting this week; 3 new appointments, including Ravi Pillai, likely
Pillai is one of the two major shareholder who has close to a 10 percent stake each in the Thrissur-headquartered bank. The other is CK Gopinathan
BUSINESS
Banking Central | Which is a safer asset for banks in the pandemic era?
Banks have been trying to de-risk their loans books from lumpy corporate assets, especially in the aftermath of crises such as IL&FS and Yes Bank. The logical shift was to retail but has it worked out?
BUSINESS
ICICI Bank Q1: Is the aggressive retail bet turning risky in the second wave?
Most banks, including ICICI Bank, had turned aggressively to retail loans last year to lower risks. But some part of that bet may be turning risky. Q1 numbers suggest abundant caution.
BUSINESS
Explained | What is a central bank digital currency, what does RBI say? 8 key questions answered
Digital currencies are gain popularity and central banks across the world are under increased pressure to come up with their virtual coins. The RBI seems willing to take the plunge but how it will work out remains to be seen
BUSINESS
Karuvannur Co-operative Bank scam: Administrative panel dissolved, borrower allegedly dies by suicide
The Karuvannur scam is the latest in Kerala, after the Popular Finance fraud last year, and a series of similar incidents involving several smaller co-operative banks
BUSINESS
Central bank digital currency has many benefits and some risks, says RBI Deputy Governor T Rabi Sankar
Noting that setting up CBDC will require careful calibration and a nuanced approach in implementation, the deputy governor said drawing board considerations and stakeholder consultations are important.
BUSINESS
Fake loan applications, banker-real estate nexus: The story of Rs 100-crore Karuvannur Co-op Bank scam
Yet another scam has shocked hundreds of customers in a Kerala-based co-operative bank. The modus operandi involved drawing loans using property documents without the knowledge of land owners. But there is more than meets the eye.
BUSINESS
Bajaj Finance: Auto loan business asset quality numbers give shocker in Q1
The auto finance business was affected severely as almost one-fifth of book turned NPAs followed by a surge in slippages in the personal loan segment.
BUSINESS
Path clear for NRI businessman Ravi Pillai to rejoin Dhanlaxmi Bank's Board
Dhanlaxmi Bank recently saw a series of changes at the top, including JK Sivan taking over as the new managing director and CEO in the place of Sunil Gurbaxani, who was ousted by the shareholders in September 2020
BUSINESS
Why banks don't want disclosure of inspection reports, defaulter list under RTI
SBI, HDFC Bank, Axis have moved Supreme Court against RBI disclosure of inspection reports under RTI. These petitions are likely to come up for hearing on 22 July at the apex court.
BUSINESS
Banking Central | HDFC Bank's Q1 numbers carry a worrying message about the state of banking industry
For HDFC Bank, a jump in NPAs may not pose an immediate concern as it has the ability to absorb the impact but that may not be the case for smaller banks.
BUSINESS
HDFC Bank Chairman expects India's economy to grow at 'fair clip' in the near term
Chakraborty said the Bank has created a new business segment of commercial (MSME) and rural banking to capture the next wave of growth.
BUSINESS
Assam's MFI relief scheme to support stressed borrowers; Rs 25,000 crore incentives for regular repayments
Under category 1, up to Rs 25,000 incentive will be given for regular repayment of loans and maintaining good credit discipline while, under category 2, the government will clear overdue amount if payment is overdue by 1-89 days, the state government tweeted.
