BUSINESS
Canara Bank may not reapply for credit card arm after RBI rejection, says CEO Satyanarayana Raju
Raju said that the approval for the initial public offering of Canara HSBC Life Insurance from government is expected in this month.
BUSINESS
RBI steps in to halt major movements in weakening Indian rupee against US dollar: currency experts
According to the Bloomberg data, Indian rupee traded in the range of 83.9987 to 84.1212 against the greenback between October 11 and November 5.
BUSINESS
Fall in yields on G-sec aids banks' treasury gains in Q2FY25
Yield on the government securities, especially 10-year benchmark fell by around 25 basis points in the second quarter of FY25. According to Bloomberg data, yield on 10-year benchmark bond stood at 7.011 percent on July 1, as against 6.750 percent on September 30.
BUSINESS
RBI’s latest penal charges norms hurt PSU banks' interest income by 9-11 bps
While most PSU banks guided for a dent in profitability owing to this reason, impact on private banks could not be ascertained as most private players did not share data on this front.
BUSINESS
PSU banks outshine private banks in Q2FY25 as profitability, asset quality improve
In the July-September quarter, private banks reported better net interest income and margins, as compared to their state-owned peers because of higher impact felt by the latter due to penal charges norms of the RBI, which were implemented earlier this year.
BUSINESS
MC Interview | Capital Small Finance Bank looks to maintain CASA at 37%: CEO Sarvjit Singh Samra
Bank’s cost of deposit was 5.8 percent in Q1, which is presently 5.9 percent, change of just 10 bps primarily because of the change in the composition of the deposit, Samra said
BUSINESS
Indian Bank's cost of deposits may rise 5-10 bps in coming quarters, says CEO SL Jain
Jain said the bank had an impact of 6 bps on the net interest margins due to penal interest norms of the Reserve Bank of India.
BUSINESS
Govt approval for Canara Robeco AMC’s IPO expected in a fortnight, says Canara Bank CEO
On July 25, Moneycontrol reported that initial public offering (IPO) of Canara Robeco Asset Management Company is expected to be launch in the fourth quarter of the current financial year.
BUSINESS
Narrowing India-US interest rate differential drives FPIs to pull out money from G-secs
Clearing Corporation of India data shows FPI investment in governments securities under FAR route reduced to Rs 2.44 lakh crore as on October 29 from Rs 2.50 lakh crore on October 1
BUSINESS
MC Interview | PNB to review RBI draft norms on business, prudential regulation for investments: CEO Atul Goel
Goel said the bank have Rs 435 crore of exposure to MTNL, which falls in to NPA this quarter and because of that slippages have gone up
BUSINESS
MC Interview | Resolution of large NCLT accounts boosts recoveries in Q2: BoB chief Debadatta Chand
Bank of Baroda is not looking to sell any foreign operations after the sale of Oman business, Chand said.
BUSINESS
Improved ratings, cheap NHB funds helped bring down borrowing cost, says PNB Housing Finance CEO Girish Kousgi
The NBFC company will be is able to maintain the margin at 3.6 to 3.65 percent over the next few quarters, says Kousgi
BUSINESS
YES Bank’s 35-40% retail fresh slippages came from unsecured portfolio in Q2FY25, says CEO Prashant Kumar
In July-September quarter, the lender have reported Rs 1,179 crore of fresh retail slippages, as per investor presentation
BUSINESS
MC Exclusive| CSB Bank does not expect Prem Watsa's Fairfax Group to sell further stake in bank, says CEO Pralay Mondal
Mondal also said that the bank does not see any major impact on its gold loan portfolio after reviewing the policy and entire portfolio.
BUSINESS
Tata AIG targets 30% CAGR for retail health insurance segment in 3 years
This growth will hinge on the back on the new products launched on October 23 in the retail health insurance.
BUSINESS
Piramal Enterprises’ business loan delinquencies to rise to 2-2.1% in coming quarters, says MD Jairam Sridharan
In July-September quarter, the company had reported an increase in delinquencies in the business loans to 1.6 percent as compared to 1 percent in year-ago period. It stood at 1.3 percent in first quarter of the current financial year.
BUSINESS
L&T Finance to remain cautious about rural business amid stress in microcredit sector: CEO Sudipta Roy
In the second quarter (July-September), rural business finance disbursements have reduced by 5 per cent YoY and 6 per cent quarter-on-quarter. Rural business finance disbursements during the quarter stood at Rs 5,435 crore, as compared to Rs 5,773 crore in the quarter-ago period and Rs 5,740 crore last year.
BUSINESS
Union Bank of India’s NIM declines 11 bps in Q2 on RBI penal interest norms
RBI's new guidelines say that banks must treat penalties for non-compliance as ‘penal charges’. Banks cannot treat such penalties as revenue
BUSINESS
MC Interview | Plugging credit card gaps took longer, working towards full compliance: South Indian Bank chief
Regarding co-branded cards Seshadri said the bank is undertaking an internal audit and once completed, the bank will furnish the report to RBI. He refrained from giving any guidance on any timeline for submitting the report.
BUSINESS
Decline in default rates in infrastructure sector boosted investors’ confidence: RBI Bulletin
Corporate bond issuances were Rs 79,856 crore during August 2024 as compared with Rs 49,329 crore a year ago
BUSINESS
RBL Bank expect microfinance stress to stabilise in Q4FY25
In July-September quarter, the reported a 24.3 percent on-year fall in its net profit to Rs 222.52 crore in the second quarter of financial year 2025. Sequentially, net profit fell 40.11 percent.
BUSINESS
Rate cut at this stage will be premature and very, very risky, says RBI Governor
In October monetary policy, the RBI had maintained the status quo on rate and changed stance to 'Neutral' from 'Withdrawal of Accommodation.'
BANKING
RBI crackdown on few NBFC-MFI over usurious pricing not industry wide issue: MFIN CEO Alok Misra
On October 17, the central bank took action against four NBFCs and NBFC-MFI citing material supervisory concerns
BUSINESS
Mudra loans won't impact asset quality significantly, says SBI’s Ruma Dey
On August 5, while addressing a question in the Lok Sabha, Finance Minister Nirmala Sitharaman said public sector banks' non-performing assets associated with the Mudra loans have declined to 3.4 percent in the 2023-24 fiscal.
