Banks go slow on lending to auto dealers

Banking industry experts estimate the total outstanding loans to automobile dealers to be in the range of Rs 70,000-80,000 crore.

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Liquidity crisis casts shadow: NBFC top execs move out to join banks, fintech

Professionals looking for stability switch to safer avenues, say recruitment firms.

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Finance ministry-PSU banks meet to review NPAs

Banks filing a petition with Delhi High Court against the demand of Rs 38,000 crore as service tax is also likely to be discussed in the meeting.

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Banks to formulate uniform policies to support gems and jewellery sector

The banks and gems and jewellery sector have formed a cordination committee, headed by SBI's deputy managing director P N Prasad.

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A major crisis may be brewing for Indian banks

Many banks believed lending to individuals is risk-free given they are better placed with credit scores. But the recent slowdown and vanishing jobs are upending the belief.

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SBI eyes Rs 6,000 cr from sale of part stake in card unit

SBI Cards says it’s the second-largest credit card issuer with a customer base of over 8.7 million people in India.

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Blackstone acquires 6% in Future Lifestyle for Rs 545 crore

Promoter entity Ryka Commercial sells 11.6 million shares of Future Lifestyle Fashion in a secondary market transaction.

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View: Abolishing MDR charges is not a great idea

To do away with MDR altogether is to cut the purse-strings which fund both existing activities and the impetus for future innovation.

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CCD account standard, V G Siddhartha recently repaid a part: Axis Bank

According to CCD's annual report, it had taken Rs 310 crore from Axis Bank as of March 2018 which had increased from Rs 92 crore a year ago.

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United Bank of India reports fraud against Visa Steel

UBI Managing Director Ashok Kumar Pradhan has said that the bank had Rs 90 crore exposure to Visa Steel, which defaulted a total of Rs 3600 crore of bank loans.

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Economic Affairs secretary Atanu Chakraborty nominated on central board of RBI

Last week, former economic affairs secretary Garg was shunted to the power ministry in a bureaucratic reshuffle announced by the government.

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No exposure to Coffee Day; Rs 152 cr loan to global unit: Karnataka Bank

The above facilities are fully secured by collaterals of properties besides primary securities and all the loan accounts are regular as on date, the bank said.

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Union Bank of India cuts MCLR by up to 20 bps across tenors

New Delhi, Jul 30 () State-owned Union Bank of India on Tuesday said it has cut the marginal cost of funds-based lending rate (MCLR) by up to 20 basis points (bps) across various tenors, effective August 1.

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View: India shouldn't bail out stressed shadow banks

The automobile sector -- which contributes half of India’s manufacturing output -- is shrinking as stressed shadow banks prioritize survival above lending growth.

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One or two NBFCs may sink, it's a free market: Romesh Sobti, CEO, IndusInd Bank

Private bank chief says no rescue act needed; liquidity crisis shows NBFCs’ key role in driving demand.

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Banks raising funds to grab NBFC share

3 PSBs and 2 private lenders plan to raise up to Rs 62,000 crore in growth capital.

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NBFC liquidity crunch is putting the squeeze on fintech

Banks are traditionally cheaper sources of capital, but their credit checks tend to be more rigorous. So, most newage lenders source funds from larger traditional NBFCs.

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State Bank of India tightens lending terms for auto dealers

SBIsaid it is revising the lending terms because of "growing stress" in the carmaker's portfolio.

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Vodafone Idea to close m-pesa business, writes off Rs 210 crore for payments bank closure

Nearly 17 months after it began operations, ABIPBL on July 20 announced winding up of its business on account of "unanticipated developments" that made its economic model "unviable".

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RBI slaps Rs 26 lakh fine on Mobikwik, Hip Bar for violating norms

One Mobikwik Systems Private Limited has been slapped a fine of Rs 15 lakh while Hip Bar Pvt Ltd faced a fine of Rs 10.85 lakh, according to an RBI release.

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PNB Housing raises Rs 690 crore from IFC to push affordable housing

PNB Housing Finance Limited has raised $100 million from the International Finance Corporation to finance affordable housing projects and support the government's Housing for All by 2022 vision.

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SMBC hires Rakesh Garg as chief business officer

Garg graduated from Indian Institute of Technology, Delhi and has an MBA from Indian Institute of Management, Ahmedabad.

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Waterfield to launch development impact bond

The issue will raise around $15 million and is expected to gradually increase the size.

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NBFCs with big realty loans must rebalance books: RBI

The central bank is looking at applying concentration risk norms — similar to banks — to the finance companies.

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How a bad loan sale revives company's fortune?

Edelweiss ARC is expecting at least 50% returns on the investment after taking over the bad loans of BMM Ispat.

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Shah receives Rs 15.26 crore dividend cheque on MHA's shares in Repco Bank

The Repco Bank is a multi state cooperative society established in 1969 by the central government.

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Gross NPAs of public sector banks have declined by over Rs 89,000 cr till March: Govt

The asset quality review (AQR) initiated in 2015 for clean and fully provisioned bank balance-sheets revealed high incidence of NPAs.

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3 of the 7 IBC amendments credit positive for banks: Report

"The amendments will be applied with retrospective effect and will strengthen the case of secured creditors in the Essar Steel resolution," Moody's noted.

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Liquidity steps for NBFCs too little, too short-term: Report

The report however said NBFCs will benefit more from the Rs 70,000 crore recapitalisation of state-owned banks, which will increase their capacity to lend more.

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Budget boost for NBFC asset purchase to ease funding crunch: Fitch

However, the budgetary proposal does not address investors' long-term concerns about the sector's exposure to stressed real estate.

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'NBFC/HFC lending to real estate players down 48 per cent in FY'19 at Rs 27,000 cr'

NBFC and HFC funding was normal during April-September 2018, but due to the crisis, the lending slowed down substantially during the second half of 2018-19.

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Finance companies may face bank-like restrictions

RBI Gov Shaktikanta Das said that the days of ‘light touch’ regulation for NBFCs were over, indicating they will be subjected to the same rules as banks.

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I feel the doom is over, we can only move up: Aditya Puri, MD, HDFC Bank

From 6% we can only go upwards. What happens in the next quarter we don’t know, but we will move up systematically depending on the efficiency of the execution to 7.5%, says Aditya Puri.

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IBBI tightens norms for insolvency resolution professionals

Insolvency resolution professionals would be barred from having employment when they are in possession of authorisation to take up work under the insolvency law.

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IL&FS says on course to clear Rs 20,000 crore debt

It also said measures have been taken for resolution of debt of three 'amber' companies, which are in final stages of implementation and will result in these companies being re-classified as 'green'.

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'Significant' outcome from ongoing resolution process: IL&FS

The company noted that 55 companies were classified as "green" which are servicing all their obligations.

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Over 18 crore loans sanctioned till March 31 under PMMY: Govt

Collateral-free loans up to Rs 10 lakh are extended to small or micro business enterprises and individuals to enable them to set up or expand their business activities under the scheme.

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RBI assigns & appoints Kanungo in Acharya's responsibility

The vacuum in the team of Monetary Policy Committee (MPC), after the resignation of Viral Acharya from Deputy Governor post of the Reserve Bank of India (RBI), has been filled by another Deputy Governor B.P. Kanungo.

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SBI Life Insurance's value of new business jumps 49 per cent to Rs 370 crore in Q1

The net worth increased by 16 per cent to Rs 7,940 crore from Rs 6,820 crore in Q1 FY19.

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What Modi govt can do to save PSU banks

Non-financial reforms involving structure, governance, ownership, and culture are necessary for the lenders to become relevant in the digital age.

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RBI rejigs portfolios of deputy governors following Acharya's exit

Now, all the other three deputy governors -- N S Vishwanathan, B P Kanungo and M K Jain -- have been made responsible for 12 departments each.

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Consolidation of regional rural banks on government agenda

Finmin wants RRBs to adopt differentiated banking strategies, such as targeting specific sectors.

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DHFL's insurance arms solvent, safe: IRDAI chief

Troubled DHFL has two insurance subsidiaries - DHFL Pramerica Life insurance and DHFL General Insurance.

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Regulator raises alarm over poor health of National Insurance Company

Govt will need to infuse around Rs 3,000 crore in insurer to keep it afloat for the next two quarters.

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DHFL expects approval of resolution plan by lenders by month-end

The company said that it was in the process of submitting a resolution plan to the lenders who are expected to give in-principle approval by month-end.

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NCLT reserves order on MCA seeking 5-yr ban on IFIN auditors

After hearing arguments of the auditors and the MCA, the tribunal comprising of VP Singh and Ravikumar Duraisamy reserved the order.

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Indian banks pursue Vijay Mallya in UK High Court for assets disclosure

The consortium of PSU banks led by State Bank of India (SBI) have been pursuing the 63-year-old former Kingfisher Airlines boss in their attempt to recover some of the funds.

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Loss of cheque to be compensated by bank: NCDRC; directs BoB to pay Rs 3L to customer

The state commission on January 20, 2016 allowed Divanji's appeal directing the bank to pay him Rs 3,60,000 and had set aside the district forum's order.

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Bandhan Bank strengthens senior management

The bank said in a statement that Naryani would spearhead branch banking, wholesale banking, agri-business, retail lending, third party products and digital banking.

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Banks take government to court over GST charge of Rs 18,000 cr

The government has alleged that the banks have not paid GST worth Rs. 18,000 crore. Instead of responding to the notice, the banks moved the Delhi HC.

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