BUSINESS
ICICI Bank, SBI customers complain of digital outage in internet, mobile banking channels
According to downdetector, a website that tracks digital outages, the outage happened between around 8 AM to 11 AM. Around 217 ICICI Bank customers reported problems with internet banking.
BUSINESS
Can bigger banks lead to better credit growth?
Creation of bigger banks will lead to more financial muscle to participate in bigger loan deals but whether they can lead to increased credit flow on the ground is a matter of debate.
BUSINESS
Banking Central | Dear customer, know your bank frauds
‘Updating’ KYC is the oldest trope in criminals’ busy book of tricks to steal your money. Keeping yourself informed and resisting the temptation of ‘quick returns’ is the best way to protect your hard-earned money
BUSINESS
Dhanlaxmi Board battle intensifies as former directors move court
Moneycontrol had reported earlier on NRI businessman Ravi Pillai’s plan to rejoin Dhanlaxmi Bank’s Board. Pillai had been on the board till May 2020 but had to exit on turning 70, the RBI-set age limit for directors.
BUSINESS
Analysis | Why not all cooperative bank depositors are happy with the Rs 5 lakh insurance cover
For depositors in banks placed under curbs, the promise of accessing the money in their accounts in 90 days is a big relief. But the benefit is only for those with deposits of up to Rs 5 lakh
BUSINESS
Signs of world economy emerging from Covid impact, says RBI Governor Shaktikanta Das
Covid has caused structural changes in the world economy and impacted the poor more, Das said.
BUSINESS
Evergrande seems like China’s Lehman moment, reminds of IL&FS, says Uday Kotak
There is panic in global markets over the expected collapse of the debt-ridden Chinese property giant
BUSINESS
Exclusive Interview | Bad bank a step in the right direction, says Morgan Stanley’s Sumeet Kariwala
The incorporation of a bad bank with a sovereign guarantee on security receipts is a positive and will impart credibility plus a likely floor on asset recoveries, says Kariwala
BUSINESS
Banking Central | Should political parties meddle in a banker’s job?
If banks need to operate professionally, politicians have to stay away from loan 'mediation', 'facilitation' or whatever else they call it
BUSINESS
Analysis | What the Bad Bank deal really means for Indian lenders
The price at which the asset transfer happens will be key. Banks will have to invest around Rs 5,000- Rs 6,000 crore in the NARCL which is approximately what they are likely to get back with the 15 percent upfront cash transfer during asset transfer. Rest will depend on a resolution within five years. That’s the trickiest part.
BUSINESS
Exclusive Interview | At HDFC Bank we are a play on the GDP. We don't chase a particular mix, says Kaizad M Bharucha, Executive Director
Kaizad Bharucha speaks about the HDFC Bank’s business focus, expansion plans, industry trends, competition from state-run rivals, and the new crop of fintechs, which he says are an opportunity, not a threat.
BUSINESS
Moratorium on AGR dues: Banks may have some relief on telecom exposure for now
The moratorium on AGR dues would instantly avert a default risk for banks. This is good news.
BUSINESS
Srei seeks debt recast by lenders, RBI approval to get investors on board
The Kolkata-based group is in the middle of a severe financial crisis and hopes to get much-needed survival capital. Lenders have tightened the screws on its cashflows and are waiting for the outcome of an ongoing forensic audit.
BUSINESS
Srei Infra CEO Rakesh Bhutoria resigns
Prior to joining Srei, Bhutoria was the Group EVP & Head – Commercial Banking & Strategic Initiatives at IDFC Bank
BUSINESS
Banking Central| How are state-run banks treating their young bankers?
PSB managers blindly follow instructions from bureaucrats and target junior officers at the slightest hint of trouble. It is time to shun this ham-fisted approach and carve an independent path
BUSINESS
With insiders at the helm, Ujjivan is readying for a reset
The tussle between the holding company and the small finance bank is an open secret. A series of exits from the bank, including that of the chief executive officer in the recent past, is no coincidence. With Carol Furtado and Sanjeev Barnwal in the lead, Ujjivan may be readying for a comeback.
BUSINESS
Explainer| UCO Bank out of RBI’s PCA watchlist, lending curbs after 4 years. What is PCA all about?
After four years, the Reserve Bank of India (RBI) has finally let the Kolkata-based UCO Bank out of the prompt corrective action (PCA) list. The performance of the bank was reviewed by the Board for Financial Supervision and it was noted that, as per its published results for the year ended March 31, 2021, the bank is not in the breach of the PCA parameters.
BUSINESS
Citibank's retail assets good bet for local contenders to bolster existing affluent customer base, says CLSA
The shortlisted contenders for Citi's Indian assets include Kotak, HDFC Bank, Axis and DBS Bank.
BUSINESS
Banks’ share investments jump unprecedented 26% in fortnight: RBI data
Experts said banks may have aggressively participated in IPOs and in some cases, converted debt to equity
BUSINESS
Banking Central | Microlenders at critical juncture, giving mixed signals on business recovery
Cues from micro borrowers are important as this segment gets impacted at the first hint of an economic shock but also recovers quickly. If the third wave is contained, microloans may rebound sharply.
BUSINESS
Former SBI Chief Rajnish Kumar joins Andhra government in advisory role
After his retirement from SBI, Kumar took up various assignments including as exclusive advisor to Kotak's Special Situation Fund and as an independent non-executive director at HSBC.
BUSINESS
Small NBFCs continue to struggle for funds despite RBI’s liquidity push
In the wake of Covid-19, the RBI announced several measures to spur bank credit to small NBFCs. But banks haven’t been forthcoming.
BUSINESS
Explained: AT1 bonds, their risks, rewards and why banks issue them
Additional Tier 1 bonds do not have a maturity date and are perpetual in nature. These debt instruments offer higher returns to investors but they also carry a higher risk.
BUSINESS
Senior-level exits haunt AU Small Finance Bank despite management assurances
The management says the executives quit for personal reasons, but the resignations have spooked investors and sparked concerns about asset quality. Analysts say NPA numbers seem fine so far but they seek more transparency.
