View: It’s downright dangerous to equate banks and NBFCs

This distinction is not a matter of semantics, but a key pillar on which entire modern banking rests.

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Stopped payment to creditors following court orders: DHFL

This clarification has come a day after Congress General Secretary Priyanka Gandhi termed the company a defaulter and slammed the UP government for investing the employee provident fund money in such a firm. Priyanka had asked that whose interest was being served by investing Rs 2,000 crore of the employees' hard-earned money in such a company.

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Over 3,400 branches of 26 PSBs closed or merged in last 5 years: RTI

To a query under the Right to Information (RTI) Act, the Reserve Bank of India (RBI) informed that 26 PSBs of the country either closed or merged 90 branches during FY 2014-15, 126 branches in 2015-16, 253 branches in 2016-17, 2,083 branches in 2017-18 and 875 branches during 2018-19. Of this, 75 per cent of the affected branches belong to SBI.

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Yes Bank's asset-quality woes to continue: Report

Emkay said that Yes Bank's fresh NPAs "were sky-high at Rs 59 billion", adding that the bank's "current aggression in retail without proper risk management systems in place could be risky."

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Hanung Toys promoter detained at airport following LOC issued by PNB

Hanung Toys and Textile Ltd owes Rs 2,300 crore from a consortium of 15 lenders led by state-owned PNB, which alone has exposure of Rs 599 crore.

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Indiabulls Real Estate sells London property to promoters for 200 mn pounds

Indiabulls Real Estate said the "company's wholly owned subsidiary has divested its entire stake in Century Ltd, which indirectly owns Hanover Square property, London to Clivedale Overseas". In June, Indiabulls Real Estate promoters had sold 14% stake in the company through open market transactions to Embassy Group for Rs 950 crore.

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North American family office eyes Yes Bank stake, plans to buy more than a third for $1.2 billion

Yes MD Ravneet Gill said the bank received investment proposals worth $3.05 bn from 3 sets of investors. Besides the North American family office, there was a proposal to invest $1.5 bn by a consortium of 6 private equity and two domestic MFs.

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Three banks report NPA divergence a day after Sebi directive

As per the disclosures made by the lenders through exchange filings, state-owned Indian Bank has reported a divergence of Rs 820 crore in its net non-performing assets (NPAs) for 2018-19, while that for Union Bank stood at Rs 998.70 crore.

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Droom acquires Xeraphin to bolster fintech credit business

The Sandeep Aggarwal-led auto services company has paid an estimated $3-$3.5 million to acquire the Delhi-based NBFC, which is expected to drive loan disbursals for purchasing pre-owned vehicles, and provide dealer financing under the Droom Credit business unit.

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IndusInd Bank finalises Sumant Kathpalia as new MD & CEO

The 55-year-old Kathpalia has been with the bank since 2008 and is credited with building consumer loans portfolio from scratch, as part of a strategy to diversify the loan book adopted by the bank. Based in New Delhi at present, Kathpalia used to head the consumer loans vertical at ABN Amro Bank, and had joined Indusind Bank in 2008.

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Google, Walmart help drive India payments past 1 billion transactions

Indian digital payments took off when the govt pushed demonetization in 2016, invalidating most of the country’s high-value currency notes in to curb corruption and push Indians away from cash. UPI has now surpassed a 100 million users 3.5 years after its launch, thanks to booming smartphone use and wireless data rates among the lowest in the world.

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Diluting government stake below 50 per cent in PSBs no solution: Unions

​Instead, the unions said, ensuring "proper governance in the system" and "removing political interference" will address the problem of NPAs that has been weakening the financial health of the PSBs.

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PIL in HC seeks lifting of restriction on cash withdrawal from PMC bank

​​A bench of Chief Justice D N Patel and Justice C Hari Shankar issued notice to the Finance Ministry, Delhi government, RBI and the PMC bank directing them to indicate their stand on the plea which has sought 100 per cent insurance cover for customers' money deposited in the bank. The RBI had earlier unearthed a Rs 4355-crore scam by PMC Bank .

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