BUSINESS
NPA woes: Banks write off Rs 1.53 lakh crore in FY21, 6% up from previous year
Twenty banks which have disclosed data on write-offs have seen the aggregate number rise from Rs 1.45 lakh crore
BUSINESS
Privatisation plans for Central Bank of India, Indian Overseas Bank likely to face hurdles: Analysts
The whole deal may not be as easy as it sounds, say analysts. Potential buyers for lenders like Central Bank and Indian Overseas Bank, the likely targets for privatisation, could be worried about the PCA tag, weak financials, say experts.
BUSINESS
Exclusive interview | Arcil MD & CEO Pallav Mohapatra says stress seen in retail, MSME segments; ARCs must prepare
Arcil is in talks with fintech players to use predictive analysis and artificial intelligence-based systems that can ease the processes of acquisition and collection in the small borrower segment.
BUSINESS
Banks to transfer 22 loan accounts worth Rs 89,000 crore to proposed Bad Bank, says IBA Chairman
The figures are based on preliminary estimates and what the company buys will ultimately depend on its own appetite, Rai said.
BUSINESS
UCO Bank knocks on RBI’s door seeking removal of PCA tag
The Kolkata-based lender wrote to the regulator after its annual results for FY21 seeking removal of PCA tag.
BUSINESS
Exclusive | COVID-19 second wave has taken a toll on SME collections: Shriram City Union Finance MD & CEO YS Chakravarti
Collection from SME accounts dropped to 80 percent in May, but most of those borrowers catered to essential needs and should be back on their feet soon, Chakravarti said.
BUSINESS
Government’s ECLGS push sends banks’ exposure to MSMEs soaring
The data for April shows that banks’ outstanding loans to medium enterprises jumped 44 percent between April 2020 and April 2021, while in the micro and small segment it rose nearly four percent
BUSINESS
COVID-19 crisis: Banks may beef up provisions to year-ago level in April-June quarter, say analysts
While banks have so far been cautious about forecasting credit costs, analysts see the fresh provisioning burden at around Rs 56,000 crore.
BUSINESS
COVID-19 second wave takes a toll on digital payments; UPI, IMPS transactions fall sharply between April and May
IMPS transaction volumes fell over 13 percent between April and May, while UPI transactions were down 4 percent
BUSINESS
Kotak Mahindra Bank says RBI 'allowing virtual currency' a step in right direction
In it's April 6, 2018 circular, the RBI said in view of the associated risks, RBI-regulated entities should not deal in virtual currencies (VCs) or provide services for facilitating any person or entity in dealing with or settling VCs.
BUSINESS
Interview | Wealth management a major focus; credit costs may fall again – BoB chief
MSMEs are the worst hit by COVID-19 and need support, while the impact on the corporate sector is limited, with large sections of the economy are working at near-normal level, BoB Managing Director & CEO Sanjiv Chadha says
BUSINESS
State Bank of India puts two corporate bad loan accounts worth Rs 410 crore on sale
The two accounts are Kamachi Industries and Tantia Agrochemicals. The bank’s exposure to Kamachi Industries stands at Rs 355.93 crore and that to Tantia at Rs 53.52 crore.
BUSINESS
Coronavirus relief measures: PSBs standardise three products for medical infra, COVID-19 treatment of individuals
Public sector banks have also standardised the procedure for the new restructuring framework.
BUSINESS
Digital lenders feel COVID heat as collections plummet, fresh stress emerges
Early estimates suggest an up to 15 per cent drop in collections between March and May
BUSINESS
RBI annual report shows huge forex gains aided transfer of higher dividend to Government
The RBI’s income from foreign exchange transaction rose 69 percent to Rs 50,629.18 crore from Rs 29,993 crore in the previous year.
TRENDS
Banks’ gross NPAs to fall in FY21 on restructuring, write-offs and economic resilience: CARE Ratings
Regulatory and government schemes also helped cushion the impact of the pandemic.
BUSINESS
Manappuram Finance auctions Rs 404 crore worth gold in Jan-March quarter
This marked a massive jump in auctions compared with just Rs eight crore in the nine months to December 2020
BUSINESS
RBI Governor Shaktikanta Das tells private bank chiefs to boost credit flow
Das told bankers to continue strengthening their balance sheets.
BUSINESS
COVID-19 Second Wave: Banks brace for impact as vaccination pace slows
A senior executive with a mid-sized private bank said it would be “utopian” to believe the whole population will be vaccinated by year-end.
BUSINESS
Lower inflation beneficial for financial stability, says RBI study
The retail inflation, which is used by the monetary policy committee (MPC) for policy formulation, has stayed at an elevated level causing a policy dilemma to the central bank, before showing signs of easing in the recent months.
