BUSINESS
IBA, Bank unions agree on 15% wage hike
A 15 per cent hike in wage cost will mean a yearly burden of Rs 7900 crore for the banking industry.
BUSINESS
Wilful defaulters owe Rs 1.5 lakh crore to public sector banks: How big is the mess?
A wilful defaulter is a borrower who has the ability to repay the bank but wouldn’t so deliberately. Here, the intent to pay back the money to the lender is absent.
BUSINESS
Axis Bank Q1: High caution visible, fall in moratorium book in line with industry
In the fourth quarter of the last fiscal, Axis Bank had said that about a quarter of its loan book was under moratorium (25-28 percent). From there, the value of moratorium loans has substantially declined and extra caution against future uncertainties is visible.
BUSINESS
Smuggling racket thrusts Kerala’s insatiable love for gold back into spotlight
The unraveling of a smuggling racket originating from the Gulf once again underscores the state’s ungodly penchant for the yellow metal.
BUSINESS
Analysis| Bajaj Finance remains steady, cautious in COVID times
Extra caution and decline in moratorium book are good news to Bajaj Finance investors in uncertain times. That is despite a 19 percent fall in net profit to Rs 962 crore in Q1 from Rs1195 crore in the year ago quarter.
BUSINESS
Banking Central | 51 years of bank nationalisation: Indira Gandhi’s ‘drama’ or India’s biggest banking reform?
Bank nationalisation took root in 1969 and altered the Indian banking industry landscape forever. A look at the effects of the epochal action through the years.
BUSINESS
Analysis | Urjit Patel’s scathing attack on RBI, UPA for the NPA mess: 3 critical insights
Reasons for India’s NPA crisis are well known. However, this is probably the first time a former RBI governor has launched such a scathing attack on the central bank criticising the inefficiency and laxity to monitor the build-up of bad loans in the system.
BUSINESS
Analysis| HDFC Bank prepares for COVID-19 shock
The bank has admitted that the COVID-19 pandemic has already taken a toll on the retail loan book.
BUSINESS
Bad loan write-offs by state-run banks accelerated in past 6 years to hit nearly Rs 5.5 lakh crore, show data
The write-offs illustrate the recurring — and unbridled — problem of the mountain of bad loans, or non-performing assets, that banks are saddled with as borrowers struggle to pay off debt in a slowing economy.
BUSINESS
Analysis | Raghuram Rajan’s latest warning on bank NPAs is an understatement of the real problem
Banks have sensed the danger already which is why they are on a capital raising spree. A number of private banks -- including ICICI Bank, HDFC Bank, Axis Bank and Yes Bank -- have announced plans to raise capital even though they have adequate capital levels
BUSINESS
Fund-starved small, medium NBFCs say govt, RBI liquidity measures didn’t help; write again to FM seeking relief
The RBI announced targeted long term repo operations (TLTRO) while the government, as part of the economic package, announced partial credit guarantee scheme and special liquidity schemes to help NBFCs But, these measures have largely benefited only the big NBFCs while smaller once are starving for funds, said the FIDC letter.
BUSINESS
Analysis| Bandhan Bank Q1: With 64% book in micro loans, lender walks a cautious path; Collections pick up but COVID holds the key
The message here is clear: the management expects pain on the asset quality going ahead and doesn’t want to lower the guard
BUSINESS
Exclusive | Bandhan Bank may look at merger with holding company to cut promoter stake; awaits clarity on RBI rules
Bandhan Bank's holding company Bandhan Financial Holdings owns 60.95 percent stake in the bank, even after five years of inception.
BUSINESS
Bank fraud cases see a major spike in 2019-20: How prepared is the RBI?
A look at the latest data of large banks shows a spike in number of fraud cases and the money involved over the previous year. Subsequently,there is a corresponding rise in provisions made.
BUSINESS
SBI hopes to save Rs 1,000 crore through Work From Anywhere plan roll out
Kumar’s logic was that 'work from anywhere' would reduce commute time, and, hence, ensure better services and better work-life balance.
BUSINESS
Yes Bank denies its executives mis-sold AT-I perpetual bonds
Yes Bank says investors were aware about the risks involved. Tells court in counter-affidavit that none of the bank officials might have met the petitioner as he bought the bonds from the secondary market.
BUSINESS
How severe is the bad loan shock awaiting Indian banks?
Two key trends — the recent capital raising spree by a clutch of private sector banks and warning by RBI Governor Shaktikanta Das last week — have alerted banking analysts
BUSINESS
Banking Central: RBI ko gussa kyon aata hai?
Reserve Bank of India's strong comments in the Madras High Court affidavit that no one can blame it for losses in Yes Bank’s AT1 bonds will hurt investor faith in these financial instruments.
BUSINESS
After Yes Bank fiasco, RBI governor sees merit in creating resolution corporation: How critical is the idea?
Yes Bank failed on account of alleged financial irregularities perpetrated by the founder and former CEO, Rana Kapoor and a massive spike in bad loans.
BUSINESS
Axis Bank’s SME business records 6% de-growth in FY20
During fiscal 2020, given the uncertainties on the macro-economic front and the underlying weakness in the economy, the Bank had maintained a cautious stance on SME space,” the bank said in its annual report.
BUSINESS
Exclusive | Yes Bank AT1 bond write-down: RBI says investors can’t blame regulator after enjoying high returns in good times
In an affidavit filed in Madras High Court, RBI said writing off Yes Bank AT-1 Bonds to ensure that the capital infused by SBI and other investors, should not be diluted.
BUSINESS
Jignesh Shah’s 63 Moons Technology, which invested Rs 300 crore in Yes Bank’s AT1 bonds, files court petition against writedown
The company, earlier known as Financial Technologies (India), filed a lawsuit against RBI and Yes Bank for ‘misuse’ of the investment by ‘promise of good returns’
BUSINESS
Loan moratorium is not a loan waiver: MFIs struggle to convince some borrowers
This confusion among borrowers has prompted micro lenders to seek the help of RBI to increase awareness about the impending extra interest burden to those availing the moratorium
BUSINESS
Three back-to-back senior level exits put spotlight back on Dhanlaxmi Bank’s endless Boardroom tussle
At least three people — two former senior executives and one serving board member—confirmed that the resignations at Dhanlaxmi Bank followed differences in the board on policy issues.
