BUSINESS
CSB Bank plans to expand gold and retail portfolios, open branches in Tier 1 cities: MD & CEO
For fiscal year 2022-23, the lender recorded a profit of Rs 547 crore. Pralay Mondal says the bank is looking at partnering with fintech companies in the long run, but there are no plans for now.
BUSINESS
Axis Bank may use ChatGPT to talk to customers
The bank is also looking to work on more fintech partnerships to expand its digital business
BUSINESS
Cooperative banks face challenges on compromise settlements, say experts
Not all cooperative banks are equipped to reach compromise deals with defaulters.
BUSINESS
Exclusive: Reliance Capital’s lenders may decide on Hinduja Group’s bid by June 29
The group’s IndusInd International Holdings was the highest bidder for Reliance Capital. The deadline for completing the resolution process of Reliance Capital set by the Mumbai bench of the NCLT is July 16
BUSINESS
Kotak Mahindra Bank receives Rs 2,000 notes worth Rs 6,300 crore, says top official
The Reserve Bank of India has received around Rs 1.8 lakh crore in Rs 2,000 notes, said Governor Shaktikanta Das on June 8.
BUSINESS
Green finance: Banks, NBFCs looking for greater promotion of schemes, financial support from govt, RBI
The government and the central bank should create awareness about opportunities and bring more priority sectors under green finance, experts say.
BUSINESS
SBI to partner with agri-techs and start-ups to lend to agri sector: Chairman Dinesh Khara
The State Bank of India' reported record profit of Rs 50,232 crores for the fiscal year 2022-2023
BUSINESS
MSME Bet| Banks post double-digit growth in loans to small firms, tap co-lending routes for a bigger pie
The trend is significant as in the past banks have taken a cautious approach while lending to MSMEs as the percentage of NPAs from the segment is traditionally high.
BUSINESS
Inflation numbers in line with expectations, but uncertainty still remains, say experts
At 4.25%, CPI-based inflation for May is the lowest in 25 months and is below consensus estimates of 4.4%.
BUSINESS
MC Exclusive: Go First lenders open to extending fresh loans to revive airline’s operations
On June 1, Moneycontrol exclusively reported that GoFirst approached some of its lenders for fresh loans of up to Rs 225 crore.
BUSINESS
RBI may tighten grip on cooperative banks, say experts
The central bank announced two measures for cooperative banks on June 8 – setting guidelines on compromise settlements and technical write-offs for them and extending deadlines to meet priority sector lending targets.
BUSINESS
RBI leaves repo unchanged: Banks remain on wait-and-watch mode on rates
The central bank said risks to near-term inflation have moderated somewhat, but pressure remains during the second half of the year.
BUSINESS
RBI MPC meet: Plan to have 1 million CBDC customers by June end, says deputy governor Rabi Shankar
CBDC trials for the wholesale and retail segments commenced on November 1, 2022 and December 1, 2022
BUSINESS
RBI Policy: Non-banking prepaid payment instruments issuers get nod to issue e-RUPI vouchers
e-RUPI is a pre-paid digital voucher which a beneficiary gets on his phone in the form of an SMS or QR code.
BUSINESS
RBI MPC meeting: Central bank to issue guidelines on technical write-offs for all regulated entities
RBI monetary policy meet: The regulated entities will also include co-operative banks
BUSINESS
Exclusive| HDFC's 90% of short-term loans to corporates, realtors matured ahead of merger
As per Reserve Bank of India rules, these loans are not allowed for banks. Hence, HDFC Bank, in June 2022, asked its parent company to cut exposure to these loans.
BUSINESS
Banks unlikely to hike rates due to high deposit accretion, liquidity
Experts also said that another pause in the repo rate hike cycle is expected from the monetary policy committee on June 8.
BUSINESS
RBI panel proposals on customer service send out wake-up call to banks
The panel, headed by former deputy governor, B P Kanungo has recommended a host of proposals to improve customer service in banks.
BUSINESS
HDFC Bank to take No. 1 slot in home loan market after HDFC merger
The merger, expected to be completed by July, will change the rankings in India’s home loan market and push State Bank of India to second place.
BUSINESS
Kotak Mahindra Bank bets big on digital channels to woo corporate clients
The bank is seeking to expand its business, and grow the corporate client base three times through digital channels.
BUSINESS
MC Exclusive: Wadia Group approaches lenders for funds to restart Go First operations
GoFirst, in its insolvency filing, said it owes lenders including Bank of Baroda, Central Bank of India, Deutsche Bank and IDBI Bank a collective sum of Rs 6,521 crore
BUSINESS
MC Explains | Why the RBI is warning banks against evergreening loans
Evergreening of loans happens when a bank tries to save a loan from defaulting so that it does not appear as a non-performing asset in its books. This is done by giving a fresh loan to a borrower to pay up an old loan.
BUSINESS
Bankers expect RBI to take steps to curb evergreening of loan
On 29 May, RBI Governor Shaktikanta Das said there were cases found among banks where innovative ways were used to conceal the real status of stressed loans.
BUSINESS
RBI Annual Report: RBI to strengthen NBFC regulations in 2023-24, to examine licensing requirements
Over years, the RBI has been tightening the scrutiny of NBFC regulations. This exercise intensified particularly after the collapse of IL&FS and DHFL.
