BUSINESS
IDFC First Bank MD&CEO V Vaidyanathan gifts 1.5 lakh shares each to three persons to buy homes
At Thursday's share price of Rs 55.30 rupees apiece, the shares are worth a total of approximately Rs 2.5 crores.
BUSINESS
Exclusive | CARE cuts Deepak Kochhar-promoted NuPower Renewables ratings to junk following delay in debt servicing
CARE has cut the long term rating on Rs 180 crore bank loan facilities of NuPower Renewables to ‘CARE D’ reflectinga below investment grade rating or 'junk rating' from ‘CARE BB (CWN) (Double B) and removed the firm from under credit watch with negative Implications.
BUSINESS
COVID takes a toll on bank employees as nearly 1.5 lakh get infected, about 1,200 lose lives
Not all banks are forthcoming in sharing the updated details of Covid data of their employees. Most PSU banks have announced Rs20 lakh compensation for the families of the deceased.
BUSINESS
Smaller private banks look for recession-proof assets to cut COVID risks
Pandemic concerns have heightened the caution among smaller private banks. To avoid risky bets, these banks are now focusing on retail loans with a special focus on gold.
BUSINESS
SBI's Padmakumar M Nair named as CEO of proposed bad bank
Unlike Arcil, which is essentially a private company, the proposed bad bank will have a public sector character since the idea is mooted by the government and majority ownership is likely to rest with state-owned banks.
BUSINESS
MFIs seek emergency credit line, partial credit guarantee scheme from RBI to fight COVID-19 second wave
MFIs have sought a special liquidity facility of at least Rs 15,000 crore through NABARD and SIDBI.
POLITICS
K R Gouri Amma, 102, no more; Kerala loses a true rebel
Gouri Amma was imprisoned during the emergency. Police tortured her brutally and even inserted ‘lathi’ in her private parts. About the Police Raj, Gouri Amma later said: “If ‘lathi’ had semen, I would have given birth to a thousand lathi babies”.
BUSINESS
Interview | Gold loans will continue to be our focus; won't do unsecured loans: CSB Bank MD and CEO CVR Rajendran
Rajendran, a veteran banker, is on a mission to change the course of the Kerala-based bank, focusing more on retail loans and within that, gold loans.
BUSINESS
Banking Central | What makes a ‘rockstar’ RBI governor?
Das and his team have been proactive in responding to the challenges posed by the coronavirus pandemic but there is no drama attached to what they do—his pressers are just an official reading out of the central bank’s response and there are no headline-making off-the-cuff remarks.
BUSINESS
Analysis | Bandhan Bank Q4 numbers mirror the stress on its books; the worst isn't over
Bandhan Bank could see stress at an elevated level in the next two quarters before things improve, considering the impact of COVID second wave on small borrowers, who form a significant part of the bank's customer base.
BUSINESS
Can RBI's COVID-19 measures help smaller lenders survive the second wave?
The industry has welcome the RBI measures but there is a fear that if lockdowns do not end soon, the sector may face a deeper crisis. In fact, lockdowns have already started hitting MFI operations.
BUSINESS
MFIs welcome RBI decision to give priority tag for SFB loans to smaller microlenders, but want more
Many MFIs reported normal collection levels in the early part of April but it was slowing down as livelihoods of borrowers were getting hit and they were conserving cash
BUSINESS
Explained | Did RBI governor announce a new loan moratorium and other questions answered
The RBI has not announced a blanket moratorium like it did in 2020 but has allowed borrowers time to repay and restructure loans. Read on
BUSINESS
RBI Governor Shaktikanta Das launches second round of loan restructuring, other relief measures to counter Covid second wave
The RBI will continue to monitor the emerging COVID situation and deploy all instruments at its command to support the financial sector, RBI Governor Das has said.
POLITICS
Assembly elections 2021 | What awaits the Congress party in Kerala?
It is doubtful whether the Congress-led UDF, in the current form, can make a good opposition. It will need to repair the internal damage and emerge stronger to play a constructive opposition.
BUSINESS
Hit hard by second COVID wave, MFIs seek loan restructuring and fresh liquidity support from RBI
Compared to the first wave, the second had hit a larger number of MFI staff and created fear among employees, MFIs told the RBI at the meeting.
BUSINESS
EXCLUSIVE| Srei Group's lenders lift salary cap of top executives, may pay arrears soon
On March 17, Moneycontrol first reported about the lenders move to cap the top executive salaries.
BUSINESS
Uday Kotak says bank is prepared for a succession plan after his term ends in December, 2023
Kotak is at the top post of the bank since 2003-2004, when the bank started operations.
INDIA
In Kerala, it is time for the old Congress guard to make way for the young
The state’s senior Congress leadership, largely under the thumb of Mullappally-Chennithala-Chandy trio, has failed miserably to get the party combat-ready against the might of the Left Democratic Front
BUSINESS
Banking Central | Why are banks silent on coronavirus data of their employees?
Bank employees are susceptible to infection because of the nature of their work. Banks must share information on how coronavirus has affected their staff, so that steps can be taken to ensure their safety.
INDIA
Kerala poll outcome puts cold water on Twenty20’s bigger ambitions
The party’s experiment in local body elections worked well but that wasn’t enough to compete in state elections where local elements are only a part of the deciding factors.
POLITICS
How 'captain' Pinarayi Vijayan led LDF to historic win in Kerala
Vijayan consolidated the image of the party as a forward-looking, reform-oriented and no-nonsense administration through multiple crises. A weakened, divided opposition helped the party.
BUSINESS
T Rabi Sankar to succeed B P Kanungo as RBI deputy governor
RBI has four deputy governor posts of which fell vacant due to Kanungo's retirement. The other three deputy governors are Mahesh Kumar Jain, Michael Patra and M Rajeshwar Rao.
BUSINESS
Analysis | Yes Bank's Q4 numbers reflect a worrying picture of its actual stressed assets
The bank has written off Rs 10,323 crore of loans in the fourth quarter compared with Rs 1,747 crore in Q3 of FY21. The gross non-performing assets stand at 15.41 percent compared to 15.36 percent in the preceding quarter.
