BUSINESS
TransUnion CIBIL's Bhavesh Jain makes a case for daily submissions of borrowers' credit records
TransUnion CIBIL said the credit growth has been significant and the portfolio qualities too have remained stable because of the credit infrastructure, availability of information and objective underwriting. The CIC does not see unsecured delinquency transmitting to secured loans.
BUSINESS
Sebi may delay Hinduja’s Invesco acquisition amid IndusInd Bank fiasco
While the capital market regulator has given a preliminary go ahead to the deal, the nod for sponsor approval, due by April 2025, is still pending and may be withheld till there is finality in IndusInd Bank investigations
BUSINESS
RBI mulls describing IndusInd Bank’s forex lapses as fraud
According to sources, the regulator is in conversation with the forensic auditor, Grant Thornton, on this matter and is evaluating whether lapses identified in treasury operations should be classified as case of fraud.
BUSINESS
Vault matters | Can banks handle a third successive rate cut?
Despite strong macro signals for a repo rate cut, banks face financial strain and tightening credit risk. A cautious approach to further rate reductions is advisable to safeguard financial stability
BUSINESS
Yes Bank's board initiates search for new chief executive
According to sources, the bank’s board has roped in Egon Zehnder to shortlist candidates for CEO position
BUSINESS
SMBC to meet RBI this week for Yes Bank stake purchase
The Japanese financial major is expected to file an application with the Reserve Bank of India to acquire a controlling stake in Yes Bank this week. After acquiring 20 percent from SBI and other banks, SMBC will increase its stake by another 31 percent in two more tranches, sources indicate.
BUSINESS
Bank of Baroda plans to scale up all subsidiaries before listing, says MD and CEO
Bank of Baroda holds 64.98 percent stake in the IndiaFirst Life Insurance and has a shareholding of over 98 percent in Nainital Bank.
BUSINESS
BoB World app's new version coming this fiscal, says MD and CEO, as the lender steps up on digital banking
There are 3.27 crore users on the BoB World mobile application as on March 31, 2025, an increase of seven percent from FY24.
BUSINESS
There is room to grow on high-yielding products: BoB chief Debadatta Chand
Given the opportunity, the bank can take more risks on its books in personal loans, non-mortgage-based retail loans, loan against property and auto loan, Chand explained.
BUSINESS
CoC likely to join JSW Steel in seeking review of Supreme Court’s Bhushan Steel verdict
JSW Steel is expected to file a review petition within 30 days from the judgment and the only possible remedy for lenders is to join the company in appealing the verdict
BUSINESS
Grant Thornton identifies 25 IndusInd Bank staff involved in derivative accounting lapses: Sources
Sources say not all employees may be terminated as some involved in the lapses may have flagged the consequences of improper accounting practices to senior management. Such employee could be moved to other departments internally, while the rest may be asked to quit.
BUSINESS
Japan’s SMBC in talks with SBI for Yes Bank stake acquisition
State Bank of India, which holds a 23.97 percent stake, and Sumitomo Mitsui Banking Corporation have reinitiated talks for a stake sale in Yes Bank
BUSINESS
Bhushan Steel - JSW SC Verdict: CoC, Govt working on likely remedies
On May 5, secretary of Department of Financial Services, M. Nagaraju said that the government is studying the judgement and may finalise the next step after consultation with government advocates
BUSINESS
Vault matters | What’s behind the growing disconnect between Nifty Bank Index and reality
The Nifty Bank index has outperformed the bell-weathered index by a decent margin across timeframes. The index is clearly exhibiting a sense of optimism, but one unfortunately is not reflecting in the sentiments of those running these banks
BUSINESS
No disconnect between any parts of the bank: Yes Bank MD & CEO Prashant Kumar
This was in response to reports of differences surfacing between Kumar and the retail banking team. Kumar also reiterated that the restructuring of senior management that recently happened was done keeping in mind the 5-year plan for the bank.
BUSINESS
Yes Bank’s deposits costs to be at par with larger peers in 2–3 years, says MD & CEO Prashant Kumar
Speaking to Moneycontrol, Yes Bank's Prashant Kumar said the lender is now at a stage where it does not have to make fresh provisioning for asset quality issues of the past.
BUSINESS
It was a calculated decision to grow a less risky retail book: Prashant Kumar, MD & CEO, Yes Bank
Growing the retail book was the only option available to Yes Bank after being placed under a moratorium, says Kumar. The bank opted for a safer but less rewarding path to avoid imposition of the prompt corrective action by the RBI.
BUSINESS
IndusInd Bank presses pause button on onboarding new MFI customers
The decision to pause onboarding new MFI customers may have come after the RBI's feedback. However, the bank has denied the same.
BUSINESS
Banks say new LCR norms a mixed bag, 2.5% run-off rate on IMB deposits disappointing
According to an analyst, the central bank's norms will improve LCR of banks by of 6 percent, which can boost credit deployment by 1.4-1.6 percent
BUSINESS
MC Exclusive | RBI asks banks to show prudence with banking apps
Banks have been asked to reassess their strategy on apps. According to sources, suggestions pertaining to efficacy of digital offerings are being made by the regulator to banks following frequent outrageous in banking apps.
BUSINESS
Vault Matters | An alternative to NPCI is needed, but is tough to create
A series of transaction failures which have affected the QR-based payments system in the recent times indicates that there is scope for further fine-tuning at the back end. But what exactly is the viable solution is the question
BUSINESS
Why the ongoing investigation at IndusInd Bank is not beyond reproach
Whether it’s a bank, a pharmaceutical firm or even a chocolate maker, people associated with an event that is allegedly dubious step aside or offer to do so to ensure a fair investigation of the matter. Why is that not happening yet at IndusInd Bank?
BUSINESS
MC Exclusive | Warburg expected to lead troubled MFI Fusion Finance’s rights issue
However, sources say that Creation Investments, another stakeholder in Fusion, is hesitant to fully back the initiative.
BUSINESS
Rope in a private banker: RBI may have told IndusInd Bank board on CEO replacement
The central bank has informally told IndusInd Bank’s board on the likely traits to consider while shortlisting CEO candidates
