Banking wrap: Yes Bank raises Rs 1,930cr via QIP; RBI tells banks not to count failed swipes as free ATM transactions

Yes Bank on August 14 closed the qualified institutional placement (QIP) totalling Rs 1,930.4 crore at an issue price of Rs 83.55 per share (including a share premium of Rs 81.55 per share).

The issue price is at a discount of roughly 4.95 percent or around Rs 4.35 per share to the floor price of Rs 87.90 per share, the bank said in a release to the exchange.

Asset quality woes may dampen investor appetite for public sector banks

While Yes Bank fund raising may have helped in restoring confidence in the banking sector to some extent, the story may vary for other lenders, especially state-run banks.

Failed, non-cash swipes should not be counted as free ATM transactions: RBI to banks

The RBI asked lenders not to count failed and non-cash withdrawal swipes at ATMs as part of free transactions offered to customers.

Typically, banks allow five free ATM transactions per month to customers, after which they are charged a fee on every extra swipe.

The banking regulator said banks were including transactions that failed due to technical reasons or non-availability of currency in the machines in the five free transactions.

HDFC raises Rs 5,000 crore via 10-year NCDs at 7.91%

Housing Development Finance Corporation (HDFC) on August 13 said it has raised Rs 5,000 crore through a private placement of secured non-convertible debentures (NCDs). The bonds mature in 10 years and carry a coupon rate of 7.91 percent.

RBI sets norms to build regulatory sandbox for innovation in fintech

The RBI has released the final framework for setting up a regulatory sandbox to enable innovations in financial technology.

This will allow fintechs to test their applications in a flexible regulatory environment before introducing them to consumers.

Banks Board Bureau calls for applications to head PNB, BoI by Sept 16

The Banks Board Bureau (BBB) has begun scouting for heads of two state-owned banks -- Punjab National Bank (PNB) and Bank of India (BOI).

Applications for the post of Managing Director and Chief Executive Officer for both banks have been invited by September 16. The position is open to Indian nationals, aged 45-57 years, with an 'exemplary' track record. The appointments will be for three-year tenure.

SWIFT may run trials for instant cross-border payments in India

Cross-border payment provider SWIFT is looking at running tests for instant international settlements with the local network in India to ensure higher speed and end-to-end transparency in transactions across the globe.

While SWIFT’s global payments innovation (gpi) provides cross-border payments service to member banks, the new ‘gpi instant’ platform will connect domestic switches to include non-gpi banks as well.

IDBI Bank looking to raise Rs 10,000 crore capital by September-end

IDBI Bank is in talks with investors, including Life Insurance Corporation of India (LIC) to raise Rs 10,000 crore capital by the end of second quarter to meet minimum regulatory requirements, the bank's MD & CEO Rakesh Sharma said after announcing April-June results on August 14.

This includes Rs 1,500 crore to be realised by sale of non-core assets, Sharma added. The bank has received binding bids for stake sale in its mutual funds subsidiary, while the process is on for monetising investment in IDBI Federal Life Insurance.