BUSINESS
Analysis | Are banks relying too much on personal loans for growth?
Credit growth is starting to improve, but the central theme of this recovery is personal loans, which has implications for the asset quality of banks.
BUSINESS
Delhi cyber police arrest 12, including 3 HDFC Bank employees, for fraud
HDFC Bank said it suspended the three employees pending the outcome of the investigation.
BUSINESS
Banking Central | HDFC Bank’s rising retail restructured loans hint at fate of other banks
There was an aggressive shift to retail loans after Covid, but for big banks this is turning to be a tricky change. The latest restructuring numbers of HDFC Bank give evidence of fresh round of stress in the retail segment.
BUSINESS
Why the scrapping of PNB Housing Finance deal is a setback for Aditya Puri and Carlyle
For the Carlyle-Puri partnership, PNB Housing Finance offered an opportunity to gain entry into the booming Indian mortgage market. The Puri factor was supposed to benefit Carlyle after the acquisition. The termination of the deal is a setback for both parties.
BUSINESS
Srei Episode: Eight vital questions answered
The RBI has moved quickly to act on the Srei issue and bankruptcy proceedings are on. What lies ahead for Srei now?
BUSINESS
Srei employees plan to approach RBI administrator seeking clearance of salary arrears
Lenders had capped the salaries of Srei executives at Rs 50 lakhs per annum in December last year. The salary cap was removed in April this year. However, even after around six months, the arrears are yet to be paid to Srei employees.
BUSINESS
RBI staff writes to Governor Shaktikanta Das on delay in wage settlement; no resolution yet
RBI staff wages are decided through a bipartite settlement once in five years through negotiations between management and employee unions. The current round of wage revision is pending since November, 2017.
BUSINESS
Banking Central | A ‘Navratri’ celebration that didn’t go quite well
Senior executives at PSBs often act like feudal lords to please their bosses, and employees at lower levels often bear the brunt. This is where trade unions act as a corrective force. Though these unions have weakened over the years, they do have a significant role to play when it comes to banking sector employees’ issues.
BUSINESS
Analysis| MPC doesn’t have too many options left till COVID abates
COVID remains the key challenge for the policymakers and MPC will have to continue with a growth-supportive stance till the pandemic threat goes away.
BUSINESS
SREI founder Hemant Kanoria: Not exploring legal options, only tried for resolution outside IBC
SREI founder said the group didn’t move the Bombay High Court against the RBI decision but was only trying for a resolution outside the IBC mechanism to avoid a huge haircut to SREI’s lenders.
BUSINESS
Bombay High Court dismisses Srei Group's writ petition against RBI
Srei Group promoters, Adisri commercial private ltd, had sought a stay on initiating insolvency proceedings against Srei Infrastructure Finance Ltd (SIFL) and Srei Equipment Finance Ltd (SEFL).
BUSINESS
Exclusive Interview | HSBC bullish on India consumption story: India Commercial Banking Head Rajat Verma
For the first six months of the 2021 calendar year, the commercial banking segment in India has delivered a PBT of $146 million, up 76 percent from $83 million for the corresponding period in 2020, says HSBC India Commercial Banking Head Rajat Verma.
BUSINESS
Srei Group promoters move Bombay High Court against RBI action
Srei Group promoters have sought stay on any insolvency proceedings against the two companies.
BUSINESS
Five things to note as RBI gears up for Friday policy decision on rates
The MPC has, so far, adopted a cautious stance on rate decisions given the tricky economic scenario presented by the Covid-19 pandemic. But there is some comfort this time due to the easing inflation and recovery in economic growth.
BUSINESS
End of the road for Srei promoters?
Triggered by the liquidity crunch that accompanied the IL&FS collapse in late 2018, the Srei group’s problems worsened over time. With the RBI cracking the whip, it is probably end of the road for Srei promoters.
BUSINESS
Srei 'shocked' by RBI move, says will take all necessary legal steps
Over the last three decades, Srei has already paid Rs 30,000 crore as interest and another Rs 20,000 crore principal to banks and there has never been any delay in loan servicing before Covid-19 ravaged the country, Srei group has said
BUSINESS
Banking Central| Do we need tighter regulations for fintech?
Rise of fintech companies have helped the banking system for quicker, easier transactions yet fresh challenges have emerged that worry the reglator.
BUSINESS
Srei lenders adjust Rs 3,000 crore from SEFL’s cash flows against loan dues, talks still on for debt recast
On September 14, Moneycontrol reported that the crisis-ridden group had asked lenders to approve a much-needed debt recast and has knocked on the doors of the Reserve Bank of India to seek clearance to get a clutch of investors on board.
BUSINESS
HDFC bank denies allegations of not flagging forgery to authorities
Collection or non-collection of processing fees has no bearing on reporting to the internal & Hunter database (industry database) or attempts to report to the Police authorities, the bank said.
BUSINESS
Dhanlaxmi Bank shareholders reject appointment of statutory auditors
The Kerala High Court on September 29 passed an interim order directing Dhanlaxmi Bank to refrain from concluding the AGM . Former directors had moved the High Court seeking judicial intervention to direct the Bank to place their candidature for the directorship of the Bank in the AGM of the Bank.
BUSINESS
Explained | Indian Overseas Bank comes out of RBI’s Prompt Corrective Action Framework. What is PCA all about?
Exiting the PCA Framework means that various curbs imposed on a weak bank are lifted, enabling it to resume normal business
BUSINESS
Dhanlaxmi Board seat battle: Kerala High Court asks bank to adjourn the AGM
The petitioners and other former directors, including prominent investor Ravi Pillai and PK Vjayakumar, had sought Board seats. The nomination committee is understood to have cleared their names. However, the Board did not approve the appointments, leading the petitioners to move court.
BUSINESS
Piramal gets DHFL, lenders their money: An ‘IBC first’ and end of the road for the Wadhawans
With this, creditors of DHFL have finally got the good news they were waiting for a long time. They would recover an aggregate amount of around Rs 38,000 crore after the resolution process.
BUSINESS
SEBI fines Videocon's Venugopal Dhoot, others Rs 75 lakhs for insider trading
Dhoot has been fined Rs 25 lakhs while Sebi imposed Rs 25 lakhs each penalty on Electroparts India Pvt Ltd and Videocon Realty and Infrastructures Ltd.
