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.
BUSINESS
Banking Central: How reliable is MPC’s forward guidance?
The efficacy of MPC’s forward guidance has been questioned repeatedly, with some members saying that it should have the agility to respond adequately to surprises new data brings.
BUSINESS
Race For Citi India assets: HDFC Bank may join long list of suitors
In India, the US based financial powerhouse had about 30 lakh customers in retail, 22 lakh credit cards and 12 lakh bank accounts, as of March 2020.
BUSINESS
Analysis | ICICI Bank Q4 earnings show asset quality is under control, but COVID uncertainty looms ahead
During the call with reporters post the Q4 result announcement, ICICI Bank suggested there could be some impact due to COVID going ahead but it has a war chest ready to face the uncertainty.
BUSINESS
ICICI Bank says provided Rs 175 crore for compound interest refund
On April 7, the RBI had issued a circular which mandated all lending institutions to immediately put in place a Board-approved policy to refund/adjust the ‘interest on interest’ charged to the borrowers during the moratorium period, i.e. March 1, 2020 to August 31, 2020 in conformity with the Supreme Court judgement.
BUSINESS
After Citigroup, Africa's FirstRand to cut presence in India: Why the country is a minefield for foreign banks
Foreign banks have struggled in India to compete with the local rivals. The Indian central bank has strict rules for foreign banks to operate in the country including local incorporation and PSL
BUSINESS
Will COVID second wave force RBI to announce loan moratorium again?
Bankers are silently watching how states are reacting, but there is no panic seen as in last time. Some bankers are of the view that any big impact on asset quality is unlikely for big banks as they have already addressed much of the corporate bad loans.
BUSINESS
Exclusive | RBI to cancel fraud-hit Sambandh Finserve licence; issues show cause notice
The Managing Director and CEO of Sambandh, Deepak Kindo, who was allegedly the main perpetrator of the fraud has been arrested by Economic Offence Wing, Chennai
BUSINESS
Four months after ban, HDFC Bank still awaits RBI's green signal for new digital launches
HDFC Bank has initiated a technology transformation plan under new CEO Sashidhar Jagdishan. The bank wants to address the fundamental problems in the IT infrastructure
BUSINESS
DBS, other rivals may be taking a closer look at Citi's India retail assets
A group of institutions including HSBC, Kotak and ICICI Bank have shown preliminary interest in Citi’s assets in India, according to people in the know. But, these are early stage enquiries.
BUSINESS
Why did Citibank exit India consumer business?
For foreign banks, retail is a tough game in this country. It has always been so. Over the years, the US multinational has been facing challenges from local competitors in the retail business, steadily but surely, losing its share
BUSINESS
HDFC Bank CEO Sashidhar Jagdishan writes to staff on tech issues, says working with regulator to overcome “the current situation”
HDFC Bank has suffered from multiple technology glitches in the recent past, inviting RBI’s attention.
BUSINESS
HDFC Bank provides Rs 500 crore to refund interest-on-interest on moratorium loans
On April 7, the Reserve Bank of India (RBI) had issued a circular which mandated all lending institutions to immediately put in place a Board-approved policy to refund/adjust the ‘interest on interest’ charged to the borrowers during the moratorium period, i.e. March 1, 2020 to August 31, 2020 in conformity with the Supreme Court judgement.
BUSINESS
Nirav Modi a step closer to extradition to India: Key questions answered on the case
Modi is believed to have left India in January 2018 while PNB announced the scam a month later, in February. In March 2019, Modi was arrested in London.
BUSINESS
What does CitiBank's exit from retail business mean for its rivals in India?
Even CitiBank India employees do not have much clue on why the global management decided to exit the consumer business, something Citi was well connected with for over a century.
BUSINESS
Is the RBI failing in its mission to manage the 10-year G-sec yield?
The RBI wants to artificially suppress yields in the face of opposing pressures such as wholesale inflation rising to an eight-year high and the uptick in interest rates globally. Its plan hasn’t worked so far, and some economists say the monetary authority may have to eventually bow to the market forces.
BUSINESS
IL&FS says it has addressed Rs 43,000 crore debt resolution till date, increases aggregate debt recovery target to Rs 61,000 crore
The Group has addressed aggregate debt of Rs 43,000 crore till date, according to the Board through sale of assets.
BUSINESS
Will a second COVID wave, fresh state-level restrictions add to banks' NPA woes?
How will it impact the economy and, more specifically, the banking sector asset quality? The consensus among analysts is that thanks to micro-containment zones, as opposed to total lockdown, the incremental stress in the banking sector may not be huge, as compared to the last round of the pandemic in 2020
BUSINESS
Yes Bank AT1 bonds case: Does Sebi order pits the market regulator against the RBI?
While the RBI and Yes Bank have refused to accept the charges of mis-selling in the case, Sebi has imposed monetary penalty on the bank and some of its officials.
