Banking Sector Reform
Govts should mobilise more domestic resources via tax reforms: Albert Park
In an Q&A, ADB Chief Economist Albert Park tells that countries in region may not be able to carry on with large expenditures and social transfers meant for pandemic, given rising debt burden
 "Govts should mobilise more domestic resources via tax reforms: Albert Park")
RBI asks banks, NBFCs to increase awareness campaigns against frauds
The central bank observed that despite the financial literacy drive it undertook, cases of frauds continue to rise
 "RBI asks banks, NBFCs to increase awareness campaigns against frauds")
StanChart's unhappy ending pulls the curtains down on much-touted IDR
India's sole IDR ceases to exists next week; unfavourable regime with regards to taxation, trading and fungibility, and high cost of disclosures and listing, spelled death knell for StanC's IDR
 "StanChart's unhappy ending pulls the curtains down on much-touted IDR")
Bank credit shrinks 1.2% in April, gross bank credit falls to Rs 91.53 trn
Loans in the retail segment contracted 2.5 per cent to Rs 24.90 trillion
 "Bank credit shrinks 1.2% in April, gross bank credit falls to Rs 91.53 trn")
Covid-19 impact: Home Credit India to give pink-slips to 1,800 employees
Home Credit India said it was a tough decision and the organization is trying its best to help the impacted people in getting securing new opportunities
 "Covid-19 impact: Home Credit India to give pink-slips to 1,800 employees")
Asset quality pressure may last 2 yrs, spike banks' bad loans by 6%: Fitch
Rating agency says moratorium extension, easing of working capital loan limits
 "Asset quality pressure may last 2 yrs, spike banks' bad loans by 6%: Fitch")
Delay in regulatory leeway likely to prove costly affair for banks
With loan growth and asset quality likely to take a hit, FY21 earnings estimates are coming under the knife
 "Delay in regulatory leeway likely to prove costly affair for banks")
BoB-Vijaya-Dena Bank merger plan shows govt openness to reforms: Fitch
It said BoB is likely to be the resulting entity post-merger and will become the third-largest Indian bank
 "BoB-Vijaya-Dena Bank merger plan shows govt openness to reforms: Fitch")
Merger of banks: This is the best combination possible, says Vijaya Bank MD
The existing employees will not be affected by the merger, said d Vijaya Bank's Managing Director and Chief Executive Officer R A Sankara Narayanan
 "Merger of banks: This is the best combination possible, says Vijaya Bank MD")
Govt to merge state-owned Vijaya Bank, Dena Bank and Bank of Baroda
The merger will create India's third-largest lender
 "Govt to merge state-owned Vijaya Bank, Dena Bank and Bank of Baroda")
Strengthening banks the next big reform: Arun Jaitley
Centre was confident of disinvestment proceeds comfortably overshooting the Budgeted Estimate, says Arun Jaitley
 "Strengthening banks the next big reform: Arun Jaitley")
