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Moneycontrol

Parnika Sokhi

Principal Correspondent

Moneycontrol.com

ESAF Small Finance Bank hunts for investors ahead of IPO

BUSINESS

ESAF Small Finance Bank hunts for investors ahead of IPO

ESAF SFB said that the promoter stake is likely to come down by 15-20 percent post-IPO, based on current market trends.

RBI MPC likely to extend pause as January CPI data stokes concerns

BUSINESS

RBI MPC likely to extend pause as January CPI data stokes concerns

India's retail inflation rose to near six-year high of 7.59 percent in January, up from 7.35 percent in the previous month.

Deposit rates likely to ease on RBI measures, but concerns on credit pick-up remain

BUSINESS

Deposit rates likely to ease on RBI measures, but concerns on credit pick-up remain

While transmission of lower cost of funds is expected to bring down lending rates, it may not be enough to revive credit demand.

Union Bank of India expects recoveries of Rs 3,000 crore in Q4, credit growth pegged at 9% 

BUSINESS

Union Bank of India expects recoveries of Rs 3,000 crore in Q4, credit growth pegged at 9% 

Recoveries and upgradations rose to Rs 2,837 crore in the third quarter, as compared to Rs 1,303 crore in the previous quarter and Rs 1,797 crore in the same period last year.

Do not discount RBI, have tools other than policy rate to revive growth: RBI Governor Shaktikanta Das

BUSINESS

Do not discount RBI, have tools other than policy rate to revive growth: RBI Governor Shaktikanta Das

The Monetary Policy Committee (MPC), on February 6, voted unanimously in favour of a status quo citing inflationary concerns and continued with accommodative stance.

RBI MPC: Repo rate left unchanged, stance remains accommodative

BUSINESS

RBI MPC: Repo rate left unchanged, stance remains accommodative

This is the second consecutive pause by the RBI after it reduced policy rates by 135 basis points in five back-to-back reviews last year.

Budget 2020: Lack of effective liquidity measures may delay revival of weaker NBFCs

BUSINESS

Budget 2020: Lack of effective liquidity measures may delay revival of weaker NBFCs

After the slew of measures announced in September 2019, markets were anticipating a second wave of supportive policy actions that would ensure quicker revival of the shadow banking sector.

Budget 2020: Government to exit IDBI Bank by selling balance stake

BUSINESS

Budget 2020: Government to exit IDBI Bank by selling balance stake

While there was no specific amount allotted for public sector banks (PSBs) in the Union Budget 2020-21, the government said that it will undertake recapitalization as and when needed. PSBs will also be encouraged to approach capital markets to raise additional funds.

Q3 earnings: Private lenders deliver on profitability, but slippages a concern

BUSINESS

Q3 earnings: Private lenders deliver on profitability, but slippages a concern

With interest rates on the downtrend, thanks to five consecutive rate cuts by the Reserve Bank of India (RBI) in 2019, and surplus liquidity conditions since past few months, banks were able to reset their deposit rates leading to lower cost of funds in the third quarter.

Banks should focus on building 'digital trust' amid rising cyber threats, says IBM executive

BUSINESS

Banks should focus on building 'digital trust' amid rising cyber threats, says IBM executive

Vaidyanathan Iyer, Security Software Leader, IBM India and South Asia, said that user training and experience are as important as the regulatory framework and technology in building digital trust.

Kotak Mahindra Bank goes slow on loan growth as slippages remain high

BUSINESS

Kotak Mahindra Bank goes slow on loan growth as slippages remain high

The bank saw Rs 1062 crore worth of new additions to bad loans in the third quarter. The lender had reported slippages of Rs 800 crore in the first and Rs 1000 crore in the second quarter of current financial year.

HDFC Bank clarifies why its mobile, online services were recently disrupted

BUSINESS

HDFC Bank clarifies why its mobile, online services were recently disrupted

The bank said that it had underestimated the growth in volumes across payment products through multiple channels like cards, Unified Payments Interface (UPI).

Bank frauds: RBI looking into role of forensic audits

BUSINESS

Bank frauds: RBI looking into role of forensic audits

The banking authority will also issue norms for declaration and processing of red-flagged accounts.

Indian lenders’ exposure to real estate doubled in last 4 years: RBI report

BUSINESS

Indian lenders’ exposure to real estate doubled in last 4 years: RBI report

Loans given to real estate companies rose to Rs 2.01 lakh crore in June 2019, from Rs 1.05 lakh crore in June 2016, the RBI said in the Financial Stability Report released on December 27.

Urban Cooperative Banks’ capital adequacy dips, bad loans rise: RBI report

BUSINESS

Urban Cooperative Banks’ capital adequacy dips, bad loans rise: RBI report

The report also stated that as of September 2019, the capital adequacy ratio of SUCBs fell 9.8 percent, down from 13.5 percent in the quarter that ended in March. Also, the gross NPA ratio rose to 10.5 percent, down from 6.4 percent in the same period.

Bad loans of banks may rise to 9.9% by September 2020: RBI

BUSINESS

Bad loans of banks may rise to 9.9% by September 2020: RBI

"This is primarily due to change in macroeconomic scenario, marginal increase in slippages and the denominator effect of declining credit growth," the central bank noted.

Banking sector’s health hinges on macroeconomic turnaround: RBI report

BUSINESS

Banking sector’s health hinges on macroeconomic turnaround: RBI report

RBI said that it is monitoring the health of banks that are currently under the Prompt Corrective Action framework.

2020 preview: Top 5 things to watch out for in the banking sector

BUSINESS

2020 preview: Top 5 things to watch out for in the banking sector

After an eventful 2019, the Indian banking sector is poised for bigger developments in the coming year. Here's a look at the top five changes anticipated in 2020:

RBI to carry out US-style 'Operation Twist' to bring down interest rates

BUSINESS

RBI to carry out US-style 'Operation Twist' to bring down interest rates

‘Operation Twist’ is when the central bank uses the proceeds from sale of short-term securities to buy long-term government debt papers, leading to easing of interest rates on the long term papers.

Imperative that monetary and fiscal policies work in close coordination: RBI Policy minutes

BUSINESS

Imperative that monetary and fiscal policies work in close coordination: RBI Policy minutes

Das added that while there is policy space for future rate reduction, the cuts need to be appropriately timed to ensure optimal impact.

Banking wrap 2019: Top 5 changes for bank customers

BUSINESS

Banking wrap 2019: Top 5 changes for bank customers

Let's take a look at the major changes in banking regulations

Powered by data, unsecured loans set to soar over next 5 years in India

BUSINESS

Powered by data, unsecured loans set to soar over next 5 years in India

Personal loans, credit cards and consumer durable loans are all likely to clock over 20 percent growth in the next five years, as per the report.

Yes Bank fund raising: 5 reasons likely keeping marquee investors away

BUSINESS

Yes Bank fund raising: 5 reasons likely keeping marquee investors away

While the market is abuzz on what could be stopping them from closing the deals, here's a look at five reasons why the country's fourth largest private lender is not able to attract interest from top quality investors:

RBI keeps rates unchanged, FY20 growth forecast cut to 5% from 6.1%

BUSINESS

RBI keeps rates unchanged, FY20 growth forecast cut to 5% from 6.1%

This is the first pause after five consecutive rate cuts this year. Prior to this, the Monetary Policy Committee (MPC) lowered the repo rate by 135 basis points between February-October 2019.

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