Page 2 - Banking Industry

Fintech leading India's banking revolution but it's hampered by old rules

The country's licensing policy for financial institutions is past its sell-by date. Innovative solutions are out there but require regulation.

Create digital platform for MSME credit: IT Minister Ashwini Vaishnaw

Vaishnaw was speaking at 'Digital payment Utsav'

BS columnist Tamal Bandopadhyay wins Tata Literature Live! Award

Bandopadhyay won the award for his book Pandemonium: The Great Indian Banking Tragedy

Is the worst behind Indian banks?

Bankers are seeing better days ahead with expectations of a pickup in credit growth in the next few quarters as corporate India readies to invest. Let's wait and watch

J&K Bank reports net profit at Rs 111 crore in September quarter

Public sector lender Jammu & Kashmir Bank on Friday reported an over two-fold jump in net profit at Rs 111.09 crore in quarter ended September. The bank had posted a net profit of Rs 43.93 crore in the year-ago period and a profit of Rs 104.32 crore in Q1 of FY22. Total income of the bank rose to Rs 2,201.26 crore during the July-September period of 2021-22, as against Rs 2,194.47 crore in same period of 2020-21, Jammu & Kashmir Bank (J&K Bank) said in a regulatory filing. Bank's provisions for bad loans and contingencies for the reported quarter fell to Rs 192.68 crore, as against Rs 324.92 crore in same period a year ago. Even as there was a slight rise in gross non-performing assets (NPA) ratio at 8.95 per cent of the gross advances as of September 30, from 8.87 per cent by end of September last year. Net NPA was down at 3.02 per cent against 3.03 per cent. Stock of J&K Bank closed at Rs 45.95 apiece on BSE, up 0.33 per cent over previous close.

Private banks' Q2 profit soars 26% as economy shows signs of recovery

Helped by lower provisions and contingencies, which fell 26%; asset quality was broadly stable with 1% rise in GNPAs

Fintech regulations must be based on entity, not activity: RBI Dy Governor

If a fintech player is providing liquidity service (such as deposits and credit), it must be regulated as strictly as a bank, says T Rabi Sankar

Challenge for banks as outsiders Amazon, IKEA crack the finance code

Analysts say the risk for traditional lenders is that they will get pushed further away from the front end of the finance chain

State Bank of India to cut base rate by 5 bps to 7.45%, also reduce PLR

Also, it has cut its prime lending rate by 5 bps to 12.20 per cent

Top-level exits: AU SFB says 'nothing to hide' on disclosure issues

Jaipur-based AU Small Finance Bank (AU Bank) on Wednesday tried to allay concerns of investors and depositors with regard to top-level resignations in recent months, saying that it is a "simple HR issue" that the company management is trying to resolve. Concerns were raised over transparency issues as there has been a lag on part of the bank to make disclosure about the top-level resignations. In an early morning investor call, MD & CEO Sanjay Agarwal said the bank has "nothing to hide" and there is nothing on the "governance issue", and rather it was a simple HR issue that the management of the company is trying to resolve. On Tuesday, the bank had said that its Chief Audit Officer Sumit Dhir has expressed his desire to move back to his hometown Delhi, due to changes in his personal circumstances following the COVID second wave. Shares of the company witnessed a sharp decline of 12.64 per cent on Tuesday even as the broader market ended with significant gains. Shares of AU Bank .

S&P upgrades outlook on Indian Bank to stable on funding, liquidity profile

The rating agency affirmed Indian Bank's "BBB-" ratingm but ruled out any upward revision in the next one to two years

Hope fades for PSBs

Govt cannot keep infusing capital perpetually

Liquidity in the banking system rises as govt steps up spending

Net daily liquidity absorbed from banks on July 9 was Rs 4.6 trillion, data released on Monday showed

Large banks with strong balance sheet to grow faster: Axis Bank CEO

Sustained fiscal and monetary support by the government and the RBI would help economic recovery by the second half of this fiscal, Axis Bank's top official said

We do have banking ambitions, says Incred Group's Bhupinder Singh

BHUPINDER SINGH, the shadow banking entity's founder and chief executive officer, spoke to Raghu Mohan

Brazen gaming of bankruptcy process on

According to the data from the Insolvency and Bankruptcy Board of India (IBBI), in over 363 major NCLT resolutions since 2017, banks have taken an average loss of 80 per cent

PMC Bank gets some cooperative support, but revival to take time

The takeover of this bankrupt urban cooperative bank by the Centrum-BharatPe combine marks the first instance of NBFCs, high-net worth individuals and fintechs being allowed entry in this space

Averse bankers, willing RBI push companies towards the bond market

The corporate bond market is still dominated by financial companies, but non-financial companies have marked their presence in the past one year

Co-operative banks can't outsource core management functions: RBI

The RBI said the lenders can hire experts, including former employees, on a contractual basis subject to certain conditions

Let's step back from the NPA Scare

Regulators and agencies need to instil less fear in lenders, so that they are able to actively restructure debts