BUSINESS
With 61% of loan book tied up in high-risk microcredit, Bandhan Bank feels the heat of coronavirus lockdown
The nationwide lockdown to fight COVID-19 presents a major crisis for banks with high exposure to the microcredit segment. With many small businesses on the verge of shutting down, loan repayments may stop.
BUSINESS
RBI holds off key additions to HDFC Bank board, fuels buzz of in-house successor to Puri
The RBI decision is significant considering that both Jagdishan and Zaveri are seen as strong contenders to the post of HDFC Bank’s managing director after Puri retires this October
BUSINESS
SBI cuts savings deposit rate to lowest-ever 2.75%: More banks to play safe, FDs will be next
SBI’s cut in savings rate will likely be followed up by cut in fixed deposit rates. Most banks will take cues from SBI’s savings deposit cut soon and later do the same in their fixed deposit rates.
BUSINESS
Coronavirus impact: Spike in unemployment rate in March points to more pain for Indian economy
Surveys conducted by the Reserve Bank of India have painted a grim outlook on industries and consumer confidence.
BUSINESS
IndusInd Bank Q4 deposits fall 7%, CASA ratio declines
Analysts have cautioned that the bank will have to find ways to arrest the fall in deposits by restoring customer confidence. Besides IndusInd, RBL Bank too had seen about 8 percent slide in deposits in January-March quarter.
BUSINESS
RBI loan moratorium scheme: Banks, HFCs tread cautiously on EMI deferral offer
According to bankers, there has been an increase in the number of customer queries related to the moratorium scheme in the past few days.
BUSINESS
Kotak Mahindra Bank's deposits grow by 12% in Jan-March quarter despite Yes Bank hangover
Until Yes Bank's collapse, new-age private banks were seen as preferred entities for several institutions, including government entities, due to competitive interest rates and tech-enabled customer services.
BUSINESS
RBI industrial outlook surveys confirm what bank NPA charts have been telling us for long
According to an RBI survey, consumer confidence, as measured by the current situation index, in early March 2020 remained broadly close to the all-time low.
BUSINESS
Yes Bank crisis, faltering economy weigh heavily on IndusInd Bank. Can it weather the storm?
On Friday, global rating agency, Moody’s placed IndusInd Bank's domestic and foreign currency issuer ratings of Baa3/P-3 under review for downgrade. This reflects likely deterioration in asset quality in a worsening economy
BUSINESS
As curtains fall on six PSU banks, old-timers walk down the memory lane with a mix of nostalgia and grief
As six Indian public sector banks (PSBs), some of which have been in existence for over a century, ceased to exist on April 1 after their amalgamation with bigger PSBs, old timers are looking back at the halcyon days of these institutions wistfully.
BUSINESS
Exclusive: PNB expects Rs 5,000-crore fresh slippages in Q4; no lay-off post merger, says MD & CEO Mallikarjuna Rao
PNB expects about 75 percent of the fresh slippages to come from the SME (small and medium enterprises) and retail portfolios in Q4. The scenario on loan growth and future asset quality depends on how long the COVID-19 impact will be felt on the economy
BUSINESS
SBI to deduct a day’s PL encashment and salary from all employees for PM CARES Fund
These deductions will be effected immediately, the circular says. If an employee wants to opt out of the scheme, he will have to formally inform superiors.
BUSINESS
SBI’s ‘automatic’ EMI moratorium offer: Watch out for this hidden risk for borrowers
State Bank of India, India’s largest lender, was quick to offer customers an automatic deferral of EMI payments after RBI’s moratorium. But does it add value for customers?
BUSINESS
Nearly Rs 190 crore of their money stuck in PMC, RBI employee unions push for quick merger with other lenders
Officers and employees unions have suggested to RBI’s top management the names of potential suitors — Bank of India (BoI), Saraswat Cooperative bank and a few private banks — that could take over the scam-ridden Punjab and Maharashtra Cooperative Bank (PMC).
BUSINESS
Coronavirus | Banks may reactivate some inoperative Jan Dhan a/cs to facilitate govt cash transfers
Banks have been asked to look at the feasibility of reactivating some Jan Dhan accounts that have been left inoperative due to cash flow problems
BUSINESS
PSB amalgamation effective from today: Six questions on the mega merger plan
With this mega bank merger, India will have at least six big banks. However, a few questions remain.
BUSINESS
RBI clarifies on loan moratorium: Are credit card dues included, what happens after 3 months and other vital points you should know
What happens to your EMI burden? Which kinds of loans will the moratorium apply to? What about the interest component? Read on
BUSINESS
Coronavirus pandemic | RBI infuses Rs 374,000cr liquidity shot
With a total Rs 374,000 crore pumped into the system, the RBI actions will significantly help liquidity easing in the system.
BUSINESS
Coronavirus pandemic | RBI Shaktikanta Das presser today: 3 likely announcements
RBI Governor Shaktikanta Das will address media at 10 AM on March 27. Here are the likely outcomes of the governor's presser
BUSINESS
Rs 1.7 lakh crore COVID-19 package: Relief for poor, but little for locked-down economy
A closer look at the details will reveal that the package is inadequate to address the larger impact of the COVID-19 fallout, especially with respect to industries.
BUSINESS
A year after IL&FS fiasco, funding channels for NBFCs ease but weaker players struggle
Funding scenario is improving for non-banking finance companies (NBFCs) both from commercial banks and money markets, as compared to the period of September, 2018 and early 2019, industry observers say.
BUSINESS
Budget 2020: Indian banks, facing a trust deficit, just got a shot in the arm with higher deposit insurance cover
Small depositors are adequately covered in terms of insurance cover. The problem, however, is that in terms of quantum of deposits, percentage of deposits less than Rs 1 lakh is only 7.8 percent of the deposit base.
BUSINESS
Budget 2020: India’s struggling middle-class wanted a cash bonanza, not a tax googly
At a time when the economy is fighting a huge demand slump, Sitharaman should have put money in the hands of people to stimulate demand. That was missing in the budget.
BUSINESS
‘Make In India’ seems to have been forgotten; what the government can do to fix it
For Make in India to succeed, the big challenge for the government will be to revive private investments.
