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Last Updated : Jan 19, 2020 01:59 PM IST | Source:

Banking wrap: HDFC Bank Q3 profit jumps 33%; Michael Patra takes over as RBI Dy Guv

Updates from the banking sector: RBI issues new debit and credit card rules; Maharashtra UCBs call for NABARD as regulator and more

The results season in the banking sector started last week with IndusInd Bank, Bandhan Bank and HDFC Bank announcing their Q3 results.

While the private lenders posted impressive profits, slippages and asset quality continued to raise concerns.

Meanwhile, troubled private lender Yes Bank, which is yet to finalise its capital infusion plans, had its issuer ratings placed under review and Baseline Credit Assessment (BCA) further reduced to 'caa2' from 'b3' by Moody's.

HDFC Bank Q3 profit jumps 33%, but asset quality weakens, provisions spike

Private sector lender HDFC Bank on January 18 registered a 33 percent year-on-year growth in third quarter profit, driven by other income and operating income, but asset quality weakened along with deterioration in provision coverage ratio. Lower tax cost also boosted profitability.

IndusInd Bank's Romesh Sobti allays continuity fears as his tenure nears end

Romesh Sobti, who will retire as IndusInd Bank's Managing Director (MD) and Chief Executive Officer (CEO) on March 23, said that the market's fears over the continuity of the bank's philosophy under a new chief were unfounded as its strategies are not devised by an individual.

Michael Patra takes over as RBI Deputy Governor, central bank rejigs portfolios

The Reserve Bank of India (RBI) on January 15 said that Michael Debabrata Patra was taking over as the Deputy Governor at the central bank for a period of three years. He replaces Viral Acharya, who quit the post six months before end of his three-year term. Prior to this appointment, Patra was Executive Director at RBI.

Moody's downgrades Yes Bank's baseline credit rating, places issuer ratings under review

Moody's Investors Service on January 16 downgraded YES Bank's Baseline Credit Assessment (BCA) and adjusted BCA to 'caa2' from 'b3' citing concerns on the standalone viability of the private lender as it struggles to raise capital.

New debit and credit card rules: Only domestic transactions at ATMs & PoS terminals at time of issuance

In order to safeguard interests of bank account holders, the reserve bank has asked banks to clip some features while issuing new cards. These features will have to be enabled by the user, depending upon their spending habits.

Maharashtra UCBs call for NABARD as regulator

Maharashtra Urban Cooperative Banks Federation, that represents a third of the country's urban cooperative lenders, on January 16 called for a rollback of regulations that came into effect post-PMC Bank episode.

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First Published on Jan 19, 2020 01:59 pm
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