BUSINESS
Kotak Mahindra Bank Q1 results: Slippages came from tractor finance, retail unsecured loans, says CFO Jaimin Bhatt
The bank had reported slippages of Rs 1,205 crore, which is 0.4 percent of the net advances. Of this, Rs 288 crore was upgraded within Q1FY24.
BUSINESS
MC Interview| RBI Policy: Expect status quo on rates, says Puneet Pal of PGIM Mutual Fund
Pal said the rise in inflation is unlikely to force the monetary policy committee’s stance to change the status quo on policy rates as inflation is expected to remain below the upper threshold of 6 percent.
BUSINESS
Union Bank of India reports Rs 260 crore forex income in April-June: Officials
In the reporting quarter, Union Bank of India reported a sharp uptick in its treasury income. It rose over 101 percent on-year in April-June to Rs 775 crore.
BUSINESS
PFC to diversify into infra financing, but power, energy transition to remain core: CMD
Power Finance Corporation (PFC) will launch an issue of NCDs to raise up to Rs 5,000 crore on July 21 to partly finance its Rs 80,000-crore loan disbursal target.
BUSINESS
PFC eyes infra projects for financing; sanctioned Rs 16,000 cr in FY23: CMD
PFC also plans to raise up to Rs 5,000 crore via public issue of NCDs.
BUSINESS
Banks see fall in SMA-2 loans, indicating asset quality improvement
The central bank, in its FSR report in June, said that the asset quality of scheduled commercial banks improved to a 10-year low, with GNPA declining to 3.9 percent in March 2023.
BUSINESS
Central Bank of India writes off Rs 7,856 crore in Q1, reports lowest GNPA in 41 quarters
The lender’s gross NPA ratio was the lowest since March 2013 and net NPA was the lowest since September 2011, according to Bloomberg data.
BUSINESS
RBI may conduct two VRRR auctions of short maturity this week, say dealers
The apex bank has conducted 14 variable rate reverse repo (VRRR) auctions since June. But the response from banks to these auctions has been muted.
BUSINESS
CP fundraising in June rises to highest in 2023 on lower borrowing costs
Indian companies raised Rs 1.51 lakh crore in June, which is up 27.4 percent from Rs 1.18 lakh crore in May.
BUSINESS
RBI may pause in August policy; signal rate cut still distant as inflation climbs, say economists
The retail Inflation rose to 4.81 percent in June from 4.31 percent in May.
BUSINESS
Explainer| Here's how Tirupati Infraprojects duped a consortium of banks of Rs 289 crore
The company’s CMD, Jag Mohan Garg, was arrested and a court in Delhi remanded him to police custody till July 13. Investigations into the case are on.
BUSINESS
Fintech regulations: Industry players pitch for simpler KYC norms, access to cheaper capital
The pitches stem from RBI deputy governor T Rabi Sankar’s recent remarks that the central bank will come out with regulations for the fintech sector soon.
BUSINESS
Aiming 1 mn CBDC transactions per day by year-end: RBI Deputy Governor Rabi Sankar
This will help the central bank to study and understand the functioning of CBDC and its impact on the economy, he added
BUSINESS
Are corporate green bonds losing sheen? Issuances halve since 2022 due to lower investor appetite
Indian corporates and banks have raised only Rs 795 crore through green bonds in the domestic market in FY23 and so far in FY24, less than half that of the previous year.
BUSINESS
NBFCs may report stable margins in Q1 on lower cost of funds, high-yield lending: Experts
Net interest margins of NBFCs ranged from 3 to 15 percent at the end of FY23, according to data from Bloomberg and investor presentations.
BUSINESS
RBI trying to target interoperability of CBDC with UPI: Dy governor Rabi Sankar
Sankar was speaking at the Moneycontrol Startup Conclave.
BUSINESS
RBI may bring fintech regulations soon: Dy governor Rabi Sankar
Sankar was speaking at the Moneycontrol Startup Conclave.
BUSINESS
PSU banks started looking at cross-selling much later, says Rajnish Kumar
Cross-selling ushered in by private sector banks, Kumar says at Moneycontrol’s Startup Conclave
BUSINESS
Number of NBFCs surrendering licences to RBI at four-year high
RBI data shows 93 NBFCs have surrendered their licences to the central bank in only the first half of 2023.
BUSINESS
MC Explains | RBI rejects 3 more SFB licence applications; all you need to know
The applications were rejected as the central bank had found the applicants unsuitable to set up a small finance bank. Other applications are still being scrutinised by the RBI.
BUSINESS
Banks education loan increases 18.3% after demand returns as pandemic ebbs
Outstanding education loans jumped to Rs 97,756 crore on May 19 from Rs 82,662 crore a year ago.
BUSINESS
Bank investments in G-Sec, state loans rise 15.2% on-year on June 16
Investments by banks stood at Rs 57.83 lakh crore on June 16, compared with Rs 50.21 lakh crore on June 17, 2022, and Rs 47.11 lakh crore on June 18, 2021
BUSINESS
HDFC-HDFC Bank Merger | How key business metrics of HDFC Bank will change
The merged entity will be a behemoth in the Indian banking industry only second to the State Bank of India in terms of assets
BUSINESS
MC Interview | Government-guaranteed, high-yielding bonds are on our radar, says The Fixed Income’s Tirth Shah
The rationale behind the guidelines for online bond platform providers is to establish a standard bond platform structure for the entire market, Shah said.
