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.
BUSINESS
HDFC’s exit from corporate bond market brings cheer to smaller issuers as borrowing costs fall
Dealers said the fall in yields on some papers was also due to a sharp easing of yields on government securities. In the last few weeks, the yield on a 10-year benchmark bond has eased more than 20 basis points.
BUSINESS
MC Exclusive | L&T Finance looks for banks, NBFCs to sell its wholesale loan book
At Rs 19,840 crore, its wholesale book was 25 percent of the total loan book of the company as on March 31, 2023, says Raju Dodti, Chief Executive, Wholesale & SME Finance.
BUSINESS
MC Exclusive| Incred Money may commence online bond platform operations this week
In the first week of the website’s launch, Incred Money racked up more than 3,000 subscribers, of which it expects most to turn into investors. Experts anticipate tech challenges as trading will be completely online and on the website
BUSINESS
MFs’ deployment in up to 90-day CPs of NBFCs rises 21-month high in May: SEBI data
According to AMFI data, liquid funds in May received inflows worth Rs 45,234.22 crore.
BUSINESS
S Janakiraman: Consensus man, credit expert; RBI’s new deputy governor
Typically, one of the four deputy governors is a veteran banker, who brings the industry perspective to the thinking process within the central bank
BUSINESS
NaBFID to complete Rs 60,000 crore disbursements in FY24: MD Rajkiran Rai G
Going ahead, Rai expect Rs 75,000 crore sanctions in rest of the years.
BUSINESS
Change in liquidity conditions, higher call money rates forced RBI to conduct repo auction, say experts
On June 19, the central bank conducted a Rs 75,000 crore 4-day variable rate repo auction
BUSINESS
SBI, BoB, Canara Bank top execs’ salary hikes halved in FY23
The SBI chairman received a remuneration of Rs 36.99 lakh, while the MD and CEO of Bank of Baroda and Canara Bank got Rs 43.04 lakh Rs 39.76 lakh, respectively.
BUSINESS
Online bond platforms selling unlisted bonds a grey area: Experts
SEBI rules require online bond platforms to get broking licences and sell listed bonds. But some experts say they largely remain silent on the offering of unlisted debt securities by such entities independently on separate or unrelated platforms.
BUSINESS
MC Analysis | Majority of RBI penalties on co-op banks in 2023 due to SAF, IRAC violations
Of the 66 co-op banks penalised by the RBI in 2023, nine have been pulled up for violating Supervisory Action Framework norms, 8 for not transferring balances to the Depositor Education and Awareness Fund, and 6 for breaching Income Recognition and Asset Classification norms. The consolidated penalty levied amounted to Rs 1.12 crore, per RBI data.
BUSINESS
RBI’s dependence on VRRR may increase as liquidity likely to improve further over the next few months, say experts
The response from the banks in the reverse repo auctions has been muted. Across all the auctions, banks parked Rs 1.57 lakh crore against the Rs 5.50 lakh crore that the RBI had offered to absorb.
BUSINESS
Scheduled commercial banks can set their own limits for borrowing in call money, says RBI Governor Das
The six-member Monetary Policy Committee of the RBI on June 8 kept the policy repo rate unchanged at 6.5 percent in a unanimous decision.
BUSINESS
SDL, corporate bond yields ease 12-17 bps as liquidity, inflation improve
The reduction in yield on government bonds also helped.
BUSINESS
Exclusive| Online bond platforms to form industry association in next 3-4 months, say sources
Currently, there are more than 15 SEBI-recognised online bond trading platforms in India.
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
RBI mopping up excess liquidity, tax outflows could push up interbank call rates, say dealers
At present, the weighted average overnight call money rate is trading at 6.3432 percent whereas the repo rate is at 6.50 percent.
BUSINESS
RBI may hit pause again next week, drawing comfort from inflation, growth numbers: Economists
The Monetary Policy Committee kept the repo rate unchanged at 6.5 percent in April, after raising it by 250 basis points since May 2022
