BUSINESS
Banking Central | Which is a safer asset for banks in the pandemic era?
Banks have been trying to de-risk their loans books from lumpy corporate assets, especially in the aftermath of crises such as IL&FS and Yes Bank. The logical shift was to retail but has it worked out?
BUSINESS
ICICI Bank Q1: Is the aggressive retail bet turning risky in the second wave?
Most banks, including ICICI Bank, had turned aggressively to retail loans last year to lower risks. But some part of that bet may be turning risky. Q1 numbers suggest abundant caution.
BUSINESS
Explained | What is a central bank digital currency, what does RBI say? 8 key questions answered
Digital currencies are gain popularity and central banks across the world are under increased pressure to come up with their virtual coins. The RBI seems willing to take the plunge but how it will work out remains to be seen
BUSINESS
Karuvannur Co-operative Bank scam: Administrative panel dissolved, borrower allegedly dies by suicide
The Karuvannur scam is the latest in Kerala, after the Popular Finance fraud last year, and a series of similar incidents involving several smaller co-operative banks
BUSINESS
Central bank digital currency has many benefits and some risks, says RBI Deputy Governor T Rabi Sankar
Noting that setting up CBDC will require careful calibration and a nuanced approach in implementation, the deputy governor said drawing board considerations and stakeholder consultations are important.
BUSINESS
Fake loan applications, banker-real estate nexus: The story of Rs 100-crore Karuvannur Co-op Bank scam
Yet another scam has shocked hundreds of customers in a Kerala-based co-operative bank. The modus operandi involved drawing loans using property documents without the knowledge of land owners. But there is more than meets the eye.
BUSINESS
Bajaj Finance: Auto loan business asset quality numbers give shocker in Q1
The auto finance business was affected severely as almost one-fifth of book turned NPAs followed by a surge in slippages in the personal loan segment.
BUSINESS
Path clear for NRI businessman Ravi Pillai to rejoin Dhanlaxmi Bank's Board
Dhanlaxmi Bank recently saw a series of changes at the top, including JK Sivan taking over as the new managing director and CEO in the place of Sunil Gurbaxani, who was ousted by the shareholders in September 2020
BUSINESS
Why banks don't want disclosure of inspection reports, defaulter list under RTI
SBI, HDFC Bank, Axis have moved Supreme Court against RBI disclosure of inspection reports under RTI. These petitions are likely to come up for hearing on 22 July at the apex court.
BUSINESS
Banking Central | HDFC Bank's Q1 numbers carry a worrying message about the state of banking industry
For HDFC Bank, a jump in NPAs may not pose an immediate concern as it has the ability to absorb the impact but that may not be the case for smaller banks.
BUSINESS
HDFC Bank Chairman expects India's economy to grow at 'fair clip' in the near term
Chakraborty said the Bank has created a new business segment of commercial (MSME) and rural banking to capture the next wave of growth.
BUSINESS
Assam's MFI relief scheme to support stressed borrowers; Rs 25,000 crore incentives for regular repayments
Under category 1, up to Rs 25,000 incentive will be given for regular repayment of loans and maintaining good credit discipline while, under category 2, the government will clear overdue amount if payment is overdue by 1-89 days, the state government tweeted.
BUSINESS
Analysis | Bandhan Bank's June quarter business update reflects Covid pain, local factors
Covid trajectory will prove to be decisive for Bandhan Bank. A third wave would adversely hit the banking sector as a whole
BUSINESS
Stakeholders should be capable to address risks of mis-selling and cyber security, says RBI governor
Das' comments assume significance against the backdrop of rising instances of fraud in the banking sector including in the digital channels.
BUSINESS
RBI Bulletin: Near-term prospects of economy bright with tapering of second wave, aggressive vaccination
While several high frequency indicators of activity are recovering, a solid increase in aggregate demand is yet to take shape, the Bulletin said.
BUSINESS
RBI bars Mastercard from onboarding new domestic customers: 8 key questions answered
RBI, the banking regulator, said the card company had failed to comply with a requirement to store all data related to domestic customers and transactions within the country.
BUSINESS
RBI bars Mastercard from onboarding new domestic customers from July 22
Notwithstanding lapse of considerable time and adequate opportunities being given, the entity has been found to be non-compliant with the directions on Storage of Payment System Data, the RBI said.
BUSINESS
Sambandh Finserve: Office assets on sale, CEO arrested. How a scam led to the MFI’s collapse
Sambandh Finserve, once a prominent NBFC-MFI in Odisha, is now facing the regulator’s wrath. The RBI has issued a show cause notice to cancel the firm’s licence.
MCMINIS
Who regulates MFIs?
BUSINESS
MFI Industry mulls creation of a benchmark to assess household income, indebtedness of borrowers
This is likely to be part of the suggestions by the industry in response to the consultative paper. The RBI has given time till July 31 to banks, NBFCs including NBFC-MFIs, industry associations and other stakeholders to give the comments on the proposed rule changes.
BUSINESS
June CPI at 6.26%: Higher inflation adds to MPC’s woes, but growth focus will continue, say economists
The RBI had revised the inflation forecasts for FY22 to 5.1 percent during 2021-22 in the June policy. But the general consensus among economists is that inflation may average above that level in FY22.
BUSINESS
Banking Central| From the 'regulator' to the 'regulated', rules are meant to...
The Reserve Bank of India is a well-respected institution that cannot afford to dilute rules on after-retirement assignments and make mistakes. It is time for a reset.
BUSINESS
LIBOR Transition: What it means for Indian banks
It is widely expected that Secured Overnight Financing Rate will be accepted as the new benchmark rate. SOFR is linked to US treasury market transactions and is an identified replacement for USD LIBOR, which will be phased out at the end of 2021
BUSINESS
Can Carlyle-Aditya Puri combine pass the Sebi hurdle on PNB Housing deal?
SAT’s ruling in this case will be crucial to decide the fate of Carlyle’s Rs 4000-crore proposal in PNB Housing. If the deal doesn’t go through, it will be a big setback for Puri in his second innings.
