BUSINESS
Exclusive | RBI to cancel fraud-hit Sambandh Finserve licence; issues show cause notice
The Managing Director and CEO of Sambandh, Deepak Kindo, who was allegedly the main perpetrator of the fraud has been arrested by Economic Offence Wing, Chennai
BUSINESS
Four months after ban, HDFC Bank still awaits RBI's green signal for new digital launches
HDFC Bank has initiated a technology transformation plan under new CEO Sashidhar Jagdishan. The bank wants to address the fundamental problems in the IT infrastructure
BUSINESS
DBS, other rivals may be taking a closer look at Citi's India retail assets
A group of institutions including HSBC, Kotak and ICICI Bank have shown preliminary interest in Citi’s assets in India, according to people in the know. But, these are early stage enquiries.
BUSINESS
Why did Citibank exit India consumer business?
For foreign banks, retail is a tough game in this country. It has always been so. Over the years, the US multinational has been facing challenges from local competitors in the retail business, steadily but surely, losing its share
BUSINESS
HDFC Bank CEO Sashidhar Jagdishan writes to staff on tech issues, says working with regulator to overcome “the current situation”
HDFC Bank has suffered from multiple technology glitches in the recent past, inviting RBI’s attention.
BUSINESS
HDFC Bank provides Rs 500 crore to refund interest-on-interest on moratorium loans
On April 7, the Reserve Bank of India (RBI) had issued a circular which mandated all lending institutions to immediately put in place a Board-approved policy to refund/adjust the ‘interest on interest’ charged to the borrowers during the moratorium period, i.e. March 1, 2020 to August 31, 2020 in conformity with the Supreme Court judgement.
BUSINESS
Nirav Modi a step closer to extradition to India: Key questions answered on the case
Modi is believed to have left India in January 2018 while PNB announced the scam a month later, in February. In March 2019, Modi was arrested in London.
BUSINESS
What does CitiBank's exit from retail business mean for its rivals in India?
Even CitiBank India employees do not have much clue on why the global management decided to exit the consumer business, something Citi was well connected with for over a century.
BUSINESS
Is the RBI failing in its mission to manage the 10-year G-sec yield?
The RBI wants to artificially suppress yields in the face of opposing pressures such as wholesale inflation rising to an eight-year high and the uptick in interest rates globally. Its plan hasn’t worked so far, and some economists say the monetary authority may have to eventually bow to the market forces.
BUSINESS
Exclusive | Citibank to look for a buyer for its India retail business; no impact for existing customers, employees due to consumer biz exit
Post the exit from consumer business, Citibank will focus on the wholesale business and will continue to invest in expanding that segment
BUSINESS
IL&FS says it has addressed Rs 43,000 crore debt resolution till date, increases aggregate debt recovery target to Rs 61,000 crore
The Group has addressed aggregate debt of Rs 43,000 crore till date, according to the Board through sale of assets.
BUSINESS
Will a second COVID wave, fresh state-level restrictions add to banks' NPA woes?
How will it impact the economy and, more specifically, the banking sector asset quality? The consensus among analysts is that thanks to micro-containment zones, as opposed to total lockdown, the incremental stress in the banking sector may not be huge, as compared to the last round of the pandemic in 2020
BUSINESS
Yes Bank AT1 bonds case: Does Sebi order pits the market regulator against the RBI?
While the RBI and Yes Bank have refused to accept the charges of mis-selling in the case, Sebi has imposed monetary penalty on the bank and some of its officials.
BUSINESS
March CPI at 5.52%: RBI will ignore inflation spike in favour of growth, say economists
Slowing growth and high inflation normally pose a policy dilemma but the RBI has made it clear that in the current environment, supporting growth is its priority.
BUSINESS
Analysis | Bandhan Bank has retained momentum in a tough market, but watch out for asset quality
The adverse impact on credit culture in Assam following a controversial State law is likely to reflect on Bandhan’s books eventually, although collection efficiency looks good as of now
BUSINESS
Explained | Rupee plunges below 75 per US dollar. What’s behind the currency's fall?
The Rupee is facing pressure from multiple fronts including excess liquidity, low interest rates, broader market weakness, fiscal concerns and rising US bond yields. Prospects of a lockdown in Maharashtra, where COVID-19 cases are rising alarmingly, is also weighing on the market.
BUSINESS
Banking Central | Investigate, but don’t kill the spirit of bankers with never-ending probes on past loan deals
Frequent probes by agencies into old decisions have impacted the morale of bankers, contributing to delays in fresh lending decisions. That doesn't augur well for Indian economy
BUSINESS
How a ‘friendly’ former banker duped a Goan family, 80 other investors using forged documents
Ameet Savant duped HNIs into investing more than Rs 50 crore into his company. He promised them guaranteed returns of 2 percent from derivative instruments like Index Stock Option Funds. Most of his victims are retirees.
BUSINESS
Explained | How RBI’s G-SAP 1.0 is different from regular OMOs and its impact on Rupee
The plan is to enable a stable and orderly evolution of the yield curve amidst comfortable liquidity conditions.
BUSINESS
RBI’s Das cheers bond markets with liquidity bonanza, but what about savers?
The RBI governor has exercised extreme caution not to give a signal to the markets that there will be any kind of early withdrawal of liquidity measures either via rate tightening or liquidity roll back.
BUSINESS
Analysis | Banks’ quarterly business update: Good deposit growth, focus on cheaper CASA but smaller banks struggle on loans
The pandemic along with aversion to risky wholesale loans has slowed down credit growth, while deposits have increased because of volatility in equity markets and other asset classes. The second wave of COVID-19 and the extent of lockdowns will shape the outlook.
BUSINESS
Exclusive | SREI top level exodus continues: COO quits after lenders cap top deck salaries
Moneycontrol, on March 21, reported that more senior level exits are likely post Company secretary exits.
BUSINESS
Explained: Why pre-packaged insolvency resolution is great for MSME borrowers
Under the pre-packed framework, which will take effect through a government ordinance, MSME borrowers can retain control of the firm and negotiate a settlement with lenders without going through the entire IBC process. That saves time and money.
BUSINESS
Banking Central| MPC may hold its horses for now but what’s the guidance going to be on rates?
There is uncertainty on growth, inflation fronts. The policymakers do not have a clear direction on where to go on interest rates at this point.
