BUSINESS
Invest more in IT platforms to fortify public confidence in digital transactions, RBI governor tells banks
The RBI governor’s comment is significant in the context of major digital outages reported by some of the big banks such as HDFC Bank and State Bank of India in the recent past.
BUSINESS
DHFL bidding war nears climax; Piramal makes a strong pitch for the mortgage firm
In a statement on Monday, Piramal listed ten things to argue that its bid has a clear upper hand over Oaktree
BUSINESS
Banking Central | Lenders should practise what they preach on customer protection
Unless lending institutions keep a strict check on recovery agents, customer fairness will remain on paper
BUSINESS
Why bank lending doesn’t always lead to higher investments
Companies which borrow from more liquid banks invest more, shows RBI paper. Else, companies use the money to meet liabilities.
BUSINESS
Piramal Group launches blistering attack against Oaktree bid for DHFL
Piramal Group contests Oaktree's bid for DHFL, strongly objects to at least five claims made by the US asset management company in its bid for DHFL.
BUSINESS
Assam Microfinance Bill Might bring back ghosts of decade-old AP Act
Certain provisions of the Assam Microfinance Institutions (Regulation of Moneylending) Bill, 2020, are a repeat of the 2010 Andhra Pradesh Microfinance Bill, industry officials say. These rules could potentially harm the sector.
BUSINESS
India’s big co-operative banks facing trust-deficit; struggle to survive
Since 2003, 385 UCBs have had their licences cancelled or withdrawn, or have been merged with stronger ones, the RBI data shows.
SECTOR
Union budget 2021: Creation of bad bank, additional demand stimulus measures key for banking sector
Bank credit growth remains depressingly slow due to poor demand in the economy and erosion in consumer confidence.
BUSINESS
Explained | What does private banks’ quarterly business update data tell us?
The demand for loans is a direct function of the economic activity on the ground. The good news is that even at a tough phase, smaller private banks have managed to come with a healthy set of numbers.
BUSINESS
Banking Central | RBI is accountable for its failures
In the last few years, multiple cases have exposed the weak links in RBI's supervision of private financial institutions. The regulator needs to be made answerable for its failures as well.
BUSINESS
RBI launches Digital payments index to track transactions
The RBI-DPI comprises five broad parameters that enable measurement of deepening and penetration of digital payments in the country over different time periods.
BUSINESS
DHFL may get a new owner by January-end; advantage Piramals due to ‘local’ factor
CoC meeting underway to decide the winner as Piramals and Oaktree submit almost at par bids.
BUSINESS
What’s in store for banks in 2021? A better year for sure, but COVID-19 scars will remain
Bankers and analysts believe retail NPAs rather than corporate bad loans will be a headache. Also, credit growth has to pick up if there is to be a meaningful recovery for the sector. With a full-fledged economic revival still some way off, some amount of pain will carry on into the next year.
BUSINESS
Loans worth Rs 8 lakh crore written off by Indian banks in the last decade
In its latest Trend and Progress report, the RBI said that the decline in gross NPAs in the banking system was largely aided by loan write-offs.
BUSINESS
HDFC Bank proposes Atanu Chakraborty as next part-time chairperson
The bank has sent Chakraborty's name to the RBI and is awaiting the central bank’s clearance before a formal announcement. This could happen by early next month.
BUSINESS
'If it ain't broke, don't fix it': RBI working paper says 4% inflation target is good for India
Recently there were speculations that the government could ask the MPC to loosen the inflation target to facilitate a growth supportive policy.
BUSINESS
Banking Central | What awaits Indian banks in 2021
Banking sector will face three major challenges in 2021.
BUSINESS
Dhanlaxmi Bank proposes to appoint Shivan J K as new MD & CEO
Earlier, Dhanlaxmi Bank shareholders had rejected the appointment of former CEO Sunil Gurbaxani.
BUSINESS
RBI bulletin: Redouble efforts to excoriate the ‘worm in the apple’ — high inflation
High inflation threatens to hurt the early growth recovery and price pressures need to be contained urgently, the RBI bulletin said.
BUSINESS
Big companies corner cheaper funds while smaller ones struggle
In November 2020, nearly 93 percent of the issuances carried a rating of AA- and above, out of which 70 percent of the issuances had a rating of AAA. Top-rated firms are able to access funds at extremely lower rates taking benefit of the excess liquidity in the market.
BUSINESS
How app-based loan sharks lay death-traps for borrowers
Illegal app-based financiers are thriving across the country. These moneylenders target younger customers who look for quick loans for consumption purposes. On default, the harassment begins.
BUSINESS
In latest letter, Kapil Wadhawan repeats his offer to repay Rs 91,000 crore to DHFL's creditors in 7-8 years
Wadhawan’s offer comes in the midst of ongoing CoC meetings to consider bids for DHFL including from Piramal Group and Oaktree.
BUSINESS
Committee of Creditors likely to meet on December 23 again to evaluate DHFL bidders, wants more clarity from contenders
CoC will likely look at eligibility of bidders beyond financial component. Piramal Enterprises offers a higher cash upfront—preferred by lenders— than rival Oaktree for troubled mortgage lender DHFL.
BUSINESS
Banking Central | MPC minutes show panel’s deepening worries on growth
The rate panel is left with no choice but to support growth which explains its accommodative stance regardless of high inflation
