BUSINESS
PMC Bank crisis aftermath: Depositors' confidence in banks takes a big knock
Customers across other financial entities, be it public, private, cooperative as well as non-bank categories are now questioning the stability of their banks.
BUSINESS
Essar Steel case: Banks cheer SC ruling, expect faster resolution in other cases
Lenders have been grappling under the burden of aging provisions due to prolonged delay in the resolution of non-performing assets under the Insolvency and Bankruptcy Code.
BUSINESS
Indian banks add bad loans of Rs 1 lakh crore in H1FY20
Deepening economic slowdown and delay in resolution of stressed assets are likely to push more stressed loans into the non-performing assets (NPA) category going forward.
BUSINESS
Top private banks scale up on branches, deposit mobilisation
HDFC Bank, ICICI Bank and Axis Bank have together added 799 new domestic branches in the first six months of current financial year.
BUSINESS
ICICI Bank says asset quality steady as slippages ease in Q2
The high share of retail loans slippages was in line with the size of the portfolio that comprises 60 percent of the total advances, the bank said, adding that it was within the lender’s overall pricing assumptions.
BUSINESS
SBI says fresh additions to bad loans will further ease by March 2020
The country’s largest lender aims to contain its slippage ratio within 2 percent of its loan book by end of current financial year, Chairman Rajnish Kumar said.
BUSINESS
Muthoot Capital Q2: Two-wheeler financing takes a hit
The NBFC disbursed loans for 11 percent lesser number of units in the July-September quarter. In terms of value, however, the loan disbursals stood at Rs 463 crore, as compared to Rs 469 crore in the same period last year.
BUSINESS
More slippages from watch list likely, says Axis Bank CEO Amitabh Chaudhry
Considerable lack of resolution in large cases under the Insolvency & Bankruptcy Act is delaying the recovery cycle, he stated
BUSINESS
Economic slowdown likely to push up credit costs, says Uday Kotak
Kotak expects credit growth to be between 15-20 percent, supported by a higher net interest income (NII) and net interest margin (NIMs) by end of March 2020.
BUSINESS
Happy to sacrifice margins in lieu of deposits: HDFC Bank
The bank’s Net Interest Margins (NIMs), that have largely remained in the tight range of 4.2-4.4 percent, slipped to the lower rung after more than a year.
BUSINESS
Explainer | How companies 'shop' for favourable ratings and mislead investors
According to industry sources, CRAs in India are currently witnessing customer churn rate as high as 35 percent, as compared to 8 percent internationally.
BUSINESS
Commercial paper issuances slump on stricter SEBI norms
In September, CP issuances dropped to Rs 54,535 crore, from Rs 1.23 lakh crore in August and Rs 1.3 lakh crore in July.
BUSINESS
Depositors switch to long term maturities in hunt for higher rates
As the rates go down, depositors tend to lock in at longer maturities in anticipation of more cuts.
BUSINESS
RBI will not allow any cooperative bank to collapse: Shaktikanta Das
The RBI acted "swiftly and promptly" once the issue came to notice, Das said, referring to the actions taken by the regulator in the PMC Bank case.
BUSINESS
RBI policy: Increased eligibility, lending limits for NBFC-MFI borrowers
The lending limit has been increased to Rs 1.25 lakh from Rs 1 lakh per eligible borrower
BUSINESS
PMC Bank crisis: MD's confession letter reveals how HDIL loans went undetected by auditors, RBI
To dodge the regulator, PMC Bank replaced large legacy accounts with dummy accounts to match the outstanding balances in the balance sheet.
BUSINESS
PMC Bank crisis: EOW registers FIR against senior officials of PMC Bank, HDIL
The FIR named PMC Bank’s Managing Director (now suspended) Joy Thomas, Chairman Waryam Singh and other executives. It also mentions involvement of Sarang Wadhawan, vice-chairman and managing director of HDIL.
BUSINESS
Suppressing criticism can lead to mistakes in policymaking, says Raghuram Rajan
In an essay released on his blog, Rajan says that public criticism gives government bureaucrats the room to speak truth to their political masters.
BUSINESS
PMC Bank crisis: HDIL's Rs 2,500 cr loans not being serviced since past 2-3 yrs, said Joy Thomas, PMC Bank ex-MD
Thomas also said that he heard the RBI is now planning of increasing the withdrawal limit to Rs 1 lakh.
BUSINESS
Loan melas, regulatory forbearance may trigger fresh wave of bad loans
While it is unclear how the measures will help the sector, it is definitely bad news for PSBs, that are still not out of the woods in terms of asset quality.
BUSINESS
Fintechs eye an opportunity as young borrowers splurge on dine outs and gadgets
Fintechs provide teenagers and those in their 20s, with easy credit to meet their day-to-day expenses
BUSINESS
Corporate tax cut bold move, positive for economy: RBI Governor
Shaktikanta Das reiterated that the latest growth numbers had woken everyone up, but added that the next set of data for the July-September quarter would be better as the government had started spending again.
BUSINESS
External benchmarking: No extension in deadline, teaser loans not welcome
The banking regulator that has recently been entrusted with supervision of non-banking finance companies (NBFCs), is “studying” loan pricing methods in the sector, while no review is in the works as of now.
BUSINESS
SBI wants to bring back teaser loans, but will it get RBI nod?
This is not the first time that SBI is trying to bring such a product into the market. Its earlier attempts were thwarted by the regulator as it had a different take on these hybrid loans. So, why is SBI keen on bringing them back?
