Non-bank financiers have to provide moratorium to their borrowers, but are unsure of availing the same facility from their own lenders
The Bank of Japan said on Wednesday it would scale back some operations in the wake of the government's decision to declare a state of emergency.
The finance ministry and RBI are also considering allowing rescheduling of accounts classified as overdue, stressed or NPAs as of December 2019 without being downgraded.
Customers can opt for moratorium on payment of installments and interest for various term loans/credit card dues, and/or defer the interest for working capital facilities due between March 1, 2020 and May 31, 2020, it said.
The RBI had on March 27 announced a three-month moratorium on term loans.
Moody's said Banks' asset quality will deteriorate across the corporate, small and medium enterprises and retail segments, leading to pressure on profitability and capital.
The bank said its debit card holder customers can now withdraw cash from any ATM without charges till June 30.
Board-level policies are being looked at by banks for the same
Many borrowers, credit cardholders and mutual fund investors have received SMSes from their lenders reminding them that they need to maintain sufficient balance on the due date. Among others, such messages have been received by people who have taken personal, auto and home loans.
On the asset quality, Khara said, “We are in the process of evaluating the impact. It would be too early for me to say anything.”
Referring to special measures announced earlier on March 29, the RBI said taking into account the current unprecedented situation across the country to tackle the COVID-19 situation, various arrangements are put in place.
With this mega bank merger, India will have at least six big banks. However, a few questions remain.
To control the spread of COVID-19, it is necessary to keep the BC points sanitised and clean, the bank said in a release.
Morgan Stanley, Goldman Sachs Group Inc, Wells Fargo & Co, Deutsche Bank AG, HSBC Holdings PLC and Citigroup Inc were among those on Thursday reassuring staff privately or through public statements that job cuts are not on the table.
Information and Broadcasting Minister Prakash Javdekar said that the recapitalization of RRBs will improve their Capital to Risk Weighted Assets Ratio.
An intermittent rally in sectors like insurance, industrial gases & fuels and retail could be possible as the advance-decline ratio of these sectors is greater than or equal to 0.50 on MoM basis.
Yes Bank's 1,132 branches will open at the start of banking hours on March 19
Live updates on the Yes Bank press conference.
The banks have either put on hold or held online sessions for some planned gatherings, such as employee training and customer interface programmes.
Total write down of Yes Bank's additional tier-1 bonds will impact not only institutional investors, but also retail investors
Yes Bank’s Q3 numbers and finer details of the bail out scheme shows that more pain is awaiting the new management and investors in the bank’s tricky balance sheet
Yes Bank said its net loss for the quarter ended December 2019 stood at Rs 18,564 crore in a statement late Saturday
A bank promoter’s unchecked acts have been bailed out. Every bank in India is now a too-big-to-fail bank.
In January 2020, the Weighted Average Lending Rate (WALR) on outstanding loans of private banks is the same (11.06 percent) as the comparable period a year ago, according to central bank data.
Internally, RBI is targeting March 16 to remove the withdrawal cap. However, it may take another week due to external factors like holders of the bank’s AT1 instruments moving the Supreme Court.