Middle-class to boost premium business

There is already a clear shift in demographics with a visible increase in double-income families.

from Banking/Finance-Industry-Economic Times http://bit.ly/2GMjHKp

Govt may take big banking decisions before 2019 polls

The year 2019 will, however, see a lot of front-ending of events in the private sector and also among state-owned lenders.

from Banking/Finance-Industry-Economic Times http://bit.ly/2EZg15m

New year cheer for banks, NPAs see first fall since 2015

Report projects first full-year fall in bad loans, says asset quality of banks has improved but profitability a worry.

from Banking/Finance-Industry-Economic Times http://bit.ly/2RrVcpV

RBI allows Paytm Bank to restart account opening

The RBI had asked the bank to stop adding new customers about six months back in June.

from Banking/Finance-Industry-Economic Times http://bit.ly/2QZNCTT

Centre infuses Rs 3,076 crore capital into UCO Bank

The lender posted Rs 1,136.44 crore net loss for the second quarter of FY19 against a net loss of Rs 622.56 crore for the same period of previous fiscal

from Banking/Finance-Industry-Economic Times http://bit.ly/2s48Scc

Axis Bank MD & CEO Shikha Sharma retires

Amitabh Chaudhry will be the new managing director and CEO of the bank with effect from January 1, 2019, it said further.

from Banking/Finance-Industry-Economic Times http://bit.ly/2Vkjjpw

Banks' bilateral exposure to financial system at 46.5%: RBI

NBFCs were the largest net borrowers of funds from the financial system with gross payables of around Rs 7.46 lakh crore and gross receivables of around Rs 56,000 crore as at September-end 2018.

from Banking/Finance-Industry-Economic Times http://bit.ly/2SvnfC0

IL&FS effect: RBI to relook at financial conglomerates' oversight

The crisis had an impact on the wider financial markets as risks from possible asset liability mismatches at other NBFCs got recognised.

from Banking/Finance-Industry-Economic Times http://bit.ly/2F0xawu

PCA framework helped reduce contagion losses: RBI report

RBI has placed 11 state-run banks, including Bank of India, Allahabad Bank, United Bank of India, Corporation Bank, IDBI Bank and UCO Bank, under the PCA framework.

from Banking/Finance-Industry-Economic Times http://bit.ly/2EX5GYB

Bank GNPAs improved to 10.8 pc; net NPAs to 5.3 pc in September: RBI

The top 100 large borrowers accounted for 16 per cent of the gross advances and 21.2 per cent of GNPAs of banks, according to the RBI report.

from Banking/Finance-Industry-Economic Times http://bit.ly/2EYPw0G

Banking sector on "course to recovery" as NPAs recede: RBI

RBI Governor said even though the current NPA levels are high, stress tests done by the RBI have pointed to an improvement in the ratio in future.

from Banking/Finance-Industry-Economic Times http://bit.ly/2GOikLg

Allahabad Bank, SBI Life join hand for bancassurance partnership

The tie-up will see 3,238 branches of Allahabad Bank across the country offer SBI Life's range of protection, wealth creation and savings products to its customers.

from Banking/Finance-Industry-Economic Times http://bit.ly/2Rl8t3H

Credit link subsidy scheme on home loans for MIG extended till March 2020

Addressing a press conference, Puri said he has signed the file pertaining to the extension of the CLSS under which the government provides a subsidy of up to Rs 2.67 lakh on home loans.

from Banking/Finance-Industry-Economic Times http://bit.ly/2VkQfOT

Insurance industry goes on tech drive to expand coverage

The sectoral regulator Insurance Regulatory and Development Authority of India (Irdai) proposed to encourage companies to develop new technologies, asked insurers to make their products more attractive and customer friendly.

from Banking/Finance-Industry-Economic Times http://bit.ly/2RqjFff

RBI decides not to touch valuation gain

RBI board recorded that it will not touch the 'unrealised gains' for dividend distribution to the govt.

from Banking/Finance-Industry-Economic Times http://bit.ly/2CFG4x0

Banks recover Rs 40,400 crore from defaulters: RBI report

The channels through which lenders recovered bad loans include IBC, SARFAESI Act, debt recovery tribunals and Lok Adalats.

from Banking/Finance-Industry-Economic Times http://bit.ly/2GOvS9w

Provision coverage ratio of PSU banks on the rise, crosses 66%

The provision coverage ratio (PCR) gives an indication of the provision made against bad loans from the profit generated. Higher the PCR, lower is the unexposed part of the bad debts.

from Banking/Finance-Industry-Economic Times http://bit.ly/2Sn8b9K

Government to infuse Rs 10,086 crore in Bank of India

The finance Ministry had informed the bank about the capital infusion on Wednesday (December 26), Bank of India said in a regulatory filing.

from Banking/Finance-Industry-Economic Times http://bit.ly/2BMRw8t

Strengthen NCLT infrastructure to speed up resolutions: RBI

RBI underscored the need to strengthen the NCLT infrastructure to accommodate the likely large number of cases that may be referred to the dedicated bankruptcy courts.

from Banking/Finance-Industry-Economic Times http://bit.ly/2Q6z0Nj

Bad loans of PSU banks are declining: Govt officials

The NPAs of PSBs have begun dropping, registering a fall of Rs 23,860 crore in the first half of this FY.

from Banking/Finance-Industry-Economic Times http://bit.ly/2AuStT9

RBI to set up compliance portal to track cyber fraud

Of the reported frauds, 22.7% were cyber related in 2013-14 while the percentage grew to 34.1% in 2017-18, indicating a hike in not just the volume of fraudulent cases but also more cyber-related crimes.

from Banking/Finance-Industry-Economic Times http://bit.ly/2RkUOJJ

Soon, bank-type asset liability management norms for NBFCs

ALM guidelines are applicable to non-deposit-taking NBFCs with asset size of Rs 100 crore and above and to those deposit-taking companies which have a deposit base of Rs 20 crore and more.

from Banking/Finance-Industry-Economic Times http://bit.ly/2GUXVnA

RBI extends liquidity sops for banks to March 31

This facility was initially available up to December 31, 2018 will now be extended to March 31, 2019.

from Banking/Finance-Industry-Economic Times http://bit.ly/2GIKaIB

ESAF small finance bank gets RBI nod to operate as scheduled bank

This makes Thrissur-based ESAF small finance bank (SFB) the fifth scheduled bank from Kerala.

from Banking/Finance-Industry-Economic Times http://bit.ly/2ETeduH

RBI backs higher capital norms, need for prompt corrective action

The central bank said the Indian banking system has a high proportion of nonperforming assets (NPAs) that aren’t provided for in relation to capital levels.

from Banking/Finance-Industry-Economic Times http://bit.ly/2LEg48e

Gross NPAs jump to 11.2% or Rs 10.39 tln in FY18: RBI Report

Private sector peers banks' GNPA ratio stood at a much lower level of 4.7 percent as against 4.1 percent in FY17.

from Banking/Finance-Industry-Economic Times http://bit.ly/2CEX6eD

Over 6,000 officers of PSBs held responsible for badloans in FY18: Arun Jaitley

In written reply, Finance Minister Arun Jaitley said that minor and major penalties have been imposed against erring officials. These include, dismissal, compulsory retirement and demotion.

from Banking/Finance-Industry-Economic Times http://bit.ly/2CDx3EQ

RBI has called for better NCLT infratsructure for time bound resolution of stressed assets

In this context, the proposed public credit registry (PCR) will aggregate information about borrowers from multiple agencies at one place and allow safe access to the data for all important stakeholders in the financial system.

from Banking/Finance-Industry-Economic Times http://bit.ly/2TdeM6z

No of ATMs declines by 10,000 to 2.07 lakh in FY18: RBI report

The growth of white-label ATMs has also tapered off in recent years, although the number of such ATMs crossed 15,000 -mark in FY18.

from Banking/Finance-Industry-Economic Times http://bit.ly/2Q7DcfD

Fincare SFB targets Rs 5500 crore business in FY19

After Kochi, Fincare plans to open branches at Thiruvananthapuram and Kozhikode.

from Banking/Finance-Industry-Economic Times http://bit.ly/2QSj72h

Banks may take more than $3 billion hit from PNB fraud, says tax department

Banks had extended loans and guarantees worth $2.74 billion to companies tied to Nirav Modi.

from Banking/Finance-Industry-Economic Times http://bit.ly/2GH85II

India Post Payment Bank opens nearly 19 lakh accounts till date: Minister

As many as 9,75,806 transactions took place till December 20 this year.

from Banking/Finance-Industry-Economic Times http://bit.ly/2Q7J5cK

RBI relaxes withdrawal limit for depositors of City Co-operative Bank

"A sum not exceeding Rs 5,000 of total balance in every savings bank account or current account or term deposit account or any other deposit account...may be allowed to be withdrawn by depositor...," the RBI said in a release.

from Banking/Finance-Industry-Economic Times http://bit.ly/2QTfedu

Government wants a fresh review of planned merger of state-run insurance companies

The DIPAM has asked the Department of Financial Services (DFS) to get the issue of merger of three state-owned insurance companies examined and prepare a fresh roadmap.

from Banking/Finance-Industry-Economic Times http://bit.ly/2QQPUom

RBI says it prefers to keep liquidity in ‘slight deficit’

Leaders of private banks expressed concerns over liquidity deficit at their first meeting with the new governor amid apprehensions that the absence of better cash flows could dent credit growth in the fourth quarter.

from Banking/Finance-Industry-Economic Times http://bit.ly/2BNEuav

Bank-led resolution of NPAs set to begin

Indian Banks’ Association has now asked the 34 lenders to initiate and send the resolution proposals under the scheme.

from Banking/Finance-Industry-Economic Times http://bit.ly/2BI1cBa

Government infuses Rs 2159 cr in United Bank of India

The Finance Ministry had informed the bank about the capital infusion on Wednesday (December 26), United Bank of India said in a regulatory filing.

from Banking/Finance-Industry-Economic Times http://bit.ly/2ERdhI3

RBI allows Sidbi to use an existing Rs 1000-crore corpus for lending to MFIs

Sidbi is providing fund to Cashfor at 8% rate while it on lends at 16.98%. SKDRDP is getting fund at 5% and on lending to micro borrowers at 15.4%.

from Banking/Finance-Industry-Economic Times http://bit.ly/2SnqN9r

Governor Shaktikanta Das meets private sector bankers

Following default by Infrastructure Leasing & Financial Services (IL&FS) in September, liquidity situation in the system became too tight.

from Banking/Finance-Industry-Economic Times http://bit.ly/2CA9Q6m

RBI Governor Shaktikanta Das meets private banks' chiefs, discusses liquidity woes

RBI Governor Shaktikanta Das meets private banks' chiefs, discusses liquidity woes

from Finance - ET NOW - Economic Times http://bit.ly/2AgXwqa

Inspection of six companies linked to ICICI Bank controversy at 'advanced stage'

There are allegations of involvement of former ICICI Bank chief Chanda Kochhar and her family members in a loan provided to Videocon Group on a quid pro quo basis.

from Banking/Finance-Industry-Economic Times http://bit.ly/2Lzytmz

Public sector banks recovery against non-performing assets doubles this year

The finance ministry said following amendments to the Banking Regulation Act, the Reserve Bank of India directed banks to initiate insolvency proceedings.

from Banking/Finance-Industry-Economic Times http://bit.ly/2QP1O22

IL&FS names retired IAS officer Bijay Kumar as deputy MD

The company has also appointed N Srinivasan as a non-executive director of the company.

from Banking/Finance-Industry-Economic Times http://bit.ly/2Skneks

Former RBI Governor Bimal Jalan to head Economic Capital Framework committee

Expert committee on economic capital framework will have to give its report within 90 days from its first meeting.

from Banking/Finance-Industry-Economic Times http://bit.ly/2QTmTsc

To check fraud, CVC starts examining audit reports of state-run banks, insurance companies

Chief vigilance officers act as a distant arm of the CVC to check corruption and other fraudulent activities in an organisation.

from Banking/Finance-Industry-Economic Times http://bit.ly/2T97h0r

Banking services impacted Wednesday due to strike

According to AIBEA General Secretary C H Vekatachalam, the strike is effective across the country and employees are fighting for a right cause.

from Banking/Finance-Industry-Economic Times http://bit.ly/2Rf2fSN

Year of Exits: Borrowers left as loans went kaput; CEOs forced to leave and RBI chief quits too

First, loans went kaput and borrowers left the country after defaulting on payments or committing frauds, then high-profile bankers were forced to leave and even the top central banker quit in the end

from Banking/Finance-Industry-Economic Times http://bit.ly/2EPXSrs

Bank strike today: Here's all you need to know

The nation-wide strike would impact banking services like deposits and withdrawal at branches, cheque clearances and issuance of demand drafts, among others.

from Banking/Finance-Industry-Economic Times http://bit.ly/2ENog4l

Default rate in small loans lowest: Study

In the absence of demand from large corporate borrowers and also concerns of the assets turning bad, lenders have banked on retail loans to boost growth.

from Banking/Finance-Industry-Economic Times http://bit.ly/2EPyO46

From IL&FS to PSB mergers, the year gone by for India Inc

Valuations of NBFCs and housing finance companies corrected and price to book halved in the last quarter of the calendar year. S

from Banking/Finance-Industry-Economic Times http://bit.ly/2EOgMyX