Moneycontrol PRO

Dinesh Unnikrishnan

Deputy Editor

Moneycontrol

Analysis | Urjit Patel’s scathing attack on RBI, UPA for the NPA mess: 3 critical insights

BUSINESS

Analysis | Urjit Patel’s scathing attack on RBI, UPA for the NPA mess: 3 critical insights

Reasons for India’s NPA crisis are well known. However, this is probably the first time a former RBI governor has launched such a scathing attack on the central bank criticising the inefficiency and laxity to monitor the build-up of bad loans in the system.

Analysis| HDFC Bank prepares for COVID-19 shock

BUSINESS

Analysis| HDFC Bank prepares for COVID-19 shock

The bank has admitted that the COVID-19 pandemic has already taken a toll on the retail loan book.

Bad loan write-offs by state-run banks accelerated in past 6 years to hit nearly Rs 5.5 lakh crore, show data

BUSINESS

Bad loan write-offs by state-run banks accelerated in past 6 years to hit nearly Rs 5.5 lakh crore, show data

The write-offs illustrate the recurring — and unbridled — problem of the mountain of bad loans, or non-performing assets, that banks are saddled with as borrowers struggle to pay off debt in a slowing economy.

Analysis | Raghuram Rajan’s latest warning on bank NPAs is an understatement of the real problem

BUSINESS

Analysis | Raghuram Rajan’s latest warning on bank NPAs is an understatement of the real problem

Banks have sensed the danger already which is why they are on a capital raising spree. A number of private banks -- including ICICI Bank, HDFC Bank, Axis Bank and Yes Bank -- have announced plans to raise capital even though they have adequate capital levels

Fund-starved small, medium NBFCs say govt, RBI liquidity measures didn’t help; write again to FM seeking relief

BUSINESS

Fund-starved small, medium NBFCs say govt, RBI liquidity measures didn’t help; write again to FM seeking relief

The RBI announced targeted long term repo operations (TLTRO) while the government, as part of the economic package, announced partial credit guarantee scheme and special liquidity schemes to help NBFCs But, these measures have largely benefited only the big NBFCs while smaller once are starving for funds, said the FIDC letter.

Analysis| Bandhan Bank Q1: With 64% book in micro loans, lender walks a cautious path; Collections pick up but COVID holds the key

BUSINESS

Analysis| Bandhan Bank Q1: With 64% book in micro loans, lender walks a cautious path; Collections pick up but COVID holds the key

The message here is clear: the management expects pain on the asset quality going ahead and doesn’t want to lower the guard

Exclusive | Bandhan Bank may look at merger with holding company to cut promoter stake; awaits clarity on RBI rules

BUSINESS

Exclusive | Bandhan Bank may look at merger with holding company to cut promoter stake; awaits clarity on RBI rules

Bandhan Bank's holding company Bandhan Financial Holdings owns 60.95 percent stake in the bank, even after five years of inception.

Bank fraud cases see a major spike in 2019-20: How prepared is the RBI?

BUSINESS

Bank fraud cases see a major spike in 2019-20: How prepared is the RBI?

A look at the latest data of large banks shows a spike in number of fraud cases and the money involved over the previous year. Subsequently,there is a corresponding rise in provisions made.

SBI hopes to save Rs 1,000 crore through Work From Anywhere plan roll out

BUSINESS

SBI hopes to save Rs 1,000 crore through Work From Anywhere plan roll out

Kumar’s logic was that 'work from anywhere' would reduce commute time, and, hence, ensure better services and better work-life balance.

Yes Bank denies its executives mis-sold AT-I perpetual bonds

BUSINESS

Yes Bank denies its executives mis-sold AT-I perpetual bonds

Yes Bank says investors were aware about the risks involved. Tells court in counter-affidavit that none of the bank officials might have met the petitioner as he bought the bonds from the secondary market.

How severe is the bad loan shock awaiting Indian banks?

BUSINESS

How severe is the bad loan shock awaiting Indian banks?

Two key trends — the recent capital raising spree by a clutch of private sector banks and warning by RBI Governor Shaktikanta Das last week — have alerted banking analysts

Banking Central: RBI ko gussa kyon aata hai?

BUSINESS

Banking Central: RBI ko gussa kyon aata hai?

Reserve Bank of India's strong comments in the Madras High Court affidavit that no one can blame it for losses in Yes Bank’s AT1 bonds will hurt investor faith in these financial instruments.

After Yes Bank fiasco, RBI governor sees merit in creating resolution corporation: How critical is the idea?

BUSINESS

After Yes Bank fiasco, RBI governor sees merit in creating resolution corporation: How critical is the idea?

Yes Bank failed on account of alleged financial irregularities perpetrated by the founder and former CEO, Rana Kapoor and a massive spike in bad loans.

Axis Bank’s SME business records 6% de-growth in FY20

BUSINESS

Axis Bank’s SME business records 6% de-growth in FY20

During fiscal 2020, given the uncertainties on the macro-economic front and the underlying weakness in the economy, the Bank had maintained a cautious stance on SME space,” the bank said in its annual report.

Exclusive | Yes Bank AT1 bond write-down: RBI says investors can’t blame regulator after enjoying high returns in good times

BUSINESS

Exclusive | Yes Bank AT1 bond write-down: RBI says investors can’t blame regulator after enjoying high returns in good times

In an affidavit filed in Madras High Court, RBI said writing off Yes Bank AT-1 Bonds to ensure that the capital infused by SBI and other investors, should not be diluted.

Jignesh Shah’s 63 Moons Technology, which invested Rs 300 crore in Yes Bank’s AT1 bonds, files court petition against writedown

BUSINESS

Jignesh Shah’s 63 Moons Technology, which invested Rs 300 crore in Yes Bank’s AT1 bonds, files court petition against writedown

The company, earlier known as Financial Technologies (India), filed a lawsuit against RBI and Yes Bank for ‘misuse’ of the investment by ‘promise of good returns’

Loan moratorium is not a loan waiver: MFIs struggle to convince some borrowers

BUSINESS

Loan moratorium is not a loan waiver: MFIs struggle to convince some borrowers

This confusion among borrowers has prompted micro lenders to seek the help of RBI to increase awareness about the impending extra interest burden to those availing the moratorium

Three back-to-back senior level exits put spotlight back on Dhanlaxmi Bank’s endless Boardroom tussle

BUSINESS

Three back-to-back senior level exits put spotlight back on Dhanlaxmi Bank’s endless Boardroom tussle

At least three people — two former senior executives and one serving board member—confirmed that the resignations at Dhanlaxmi Bank followed differences in the board on policy issues.

Independent director accuses promoters of Rs 600-crore scam in listed optic fibre maker

BUSINESS

Independent director accuses promoters of Rs 600-crore scam in listed optic fibre maker

Promoters of Aksh Optifibre, a Delhi-based company, accused of creating a byzantine collection of shell companies, entering into undisclosed related party deals, and carrying out gold-plated imports. Independent director shoots letters to finance ministry and board calling for forensic audit.

Exclusive | Ex-ICICI Bank executive Murali Ramakrishnan likely to be named as CEO of South Indian Bank

BUSINESS

Exclusive | Ex-ICICI Bank executive Murali Ramakrishnan likely to be named as CEO of South Indian Bank

If the proposed move fructifies, Ramakrishnan would be the first MD & CEO of South Indian Bank coming on board from a private sector lender.

Finance Ministry rejects NBFC industry’s request for longer-term liquidity assistance

BUSINESS

Finance Ministry rejects NBFC industry’s request for longer-term liquidity assistance

As per the notification, liquidity instruments under the scheme will have a maturity of only three months

2 deals, 2 CBI cases: How banks flouted rules while lending to Videocon’s Venugopal Dhoot

BUSINESS

2 deals, 2 CBI cases: How banks flouted rules while lending to Videocon’s Venugopal Dhoot

Videocon’s loan dealings with banks expose how easily banks could flout norms when approached by a powerful industrialist and raises more questions on the efficacy of safeguards banks and regulators follow to avert corruption in high value loan deals.

Dhanlaxmi Bank board-room tussle: Following chairman, two more members quit

BUSINESS

Dhanlaxmi Bank board-room tussle: Following chairman, two more members quit

On Tuesday, K.N Murali, Independent Director and G. Venkatanarayanan, Additional Director resigned from the Board of the Bank with effect from June 29, 2020 citing personal reasons.

Dhanlaxmi Bank Chairman Sajeev Krishnan quits ahead of his term

BUSINESS

Dhanlaxmi Bank Chairman Sajeev Krishnan quits ahead of his term

According to people familiar with the development, Krishnan resigned from the bank ahead of his term on account of differences with the management.

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