Page 19 - Banking Sector

SBI has not decided on selling 26% stake in YES Bank, says report

SBI is allowed to reduce the stake in the YES Bank at the end of Financial Year 2022-23 (FY23) but it may not decide about that this financial year due to volatile market conditions

The rise in the incidence of digital fraud

Over the years, there has been a significant change in the types of frauds affecting the banking industry

Merger with HDFC to help tap home finance opportunity: HDFC Bank chairman

A more stable balance sheet because of the merger will enable HDFC Bank to step up exposures and facilitate higher credit growth in the economy, said the chairman

We are looking at being distinctive as a bank: Axis Bank MD & CEO

In a Q&A, Axis Bank MD & CEO Amitabh Chaudhry says bank's core leadership is focused on 19 transformative initiatives, at both business and functional levels in order to become better execution engine

YES Bank, JC Flowers in pact for ARC in bid to seal largest ever NPA deal

This is being termed the single-largest bad loan deal

Federal Bank's Q1 net jumps 64% to Rs 601 cr in best-ever quarterly show

Stronger bottomline supported by lower provisions and healthy NII

State Bank of India increases MCLR by 10 bps, second hike since June

The six-month MCLR is at 7.45 per cent; one-year MCLR is at 7.50 per cent; two-year MCLR is at 7.70 per cent; and three-year MCLR is at 7.80 per cent

PNB on-boards account aggregation platform to help digitally access files

Punjab National Bank is the second public sector lender to go live in the ecosystem, acting as Financial Information User (FIU) and Financial Information Provider (FIP)

Banks' asset-quality risk to be moderate after RBI rate hike: Fitch Ratings

'Mounting repayment pressure for some borrowers amid India's interest rate hikes, particularly for micro, small and medium-sized enterprises, will test banks' loan underwriting quality'

How HDFC Bank, others may fare in Q1 results season

Increase in lending rates, credit growth etc are expected to help banks report a rise in income and profits in Q1FY23. Here's a glimpse of how Q1 results of the banking sector may look like.

News on RBI nod for ARC stake speculative, lacks bonafide sources: YES Bank

YES Bank clarified that it had indeed started the process of seeking a partner for an asset reconstruction company through a public expression of interest, but added that the process is still underway

FSIB recommends former Union Bank of India MD for post of NaBFID MD

The Centre, earlier this month, transformed the Banks Board Bureau into FSIB and expanded the headhunter's role to suggest appointments for PSU banks, insurance companies and financial institutions

Canara, Union Bank to raise around Rs 4,000 cr via AT-1 bonds by next week

Union Bank plans to raise up to Rs 2,000 crore while Canara Bank plans to issue AT-1 bonds worth up to Rs 2,000 crore, say sources

ED probing some entities, employees over irregularities, says IndusInd Bank

IndusInd Bank says it has no credit exposure to the entities being investigated

NBFCs to rely more on funding from banks, cost may rise, says report

Non-bank finance companies (NBFCs) are likely to rely more on banks for their funding requirements as interest rates are hardening in the capital market, says a report. As the sector moves towards banks for meeting its funding requirements, smaller NBFCs could witness a sharp increase in their funding costs, India Ratings and Research said in a report. "The borrowings of non-bank finance companies (NBFCs) could get skewed to banks in FY23, given the hardening of rates in the capital markets," the agency said in a report on Wednesday. The shift in the NBFCs' funding mix in FY23 will be driven by a rise in the proportion of short-term funding by way of commercial papers and debenture funding getting replaced by bank funding to a certain extent. A huge quantum of borrowings to be raised by large NBFCs would lead to a further increase in the banks' exposure to the sector, and small NBFCs thus could face crowding out, the report said. The agency said with the rise in interest rates, ..

Major PSU banks to go live on account aggregator system by July-end

SBI and BoB are expected to go live by the deadline; PNB and Union Bank of India are already live on the ecosystem

Bank of Maharashtra bucks the trend, cuts MCLR by 20-35 basis points

The state-owned lender cut overnight and one-month MCLR by 25 bps to 6.90 per cent and 7 per cent

Banks' Q1 net profit growth estimated at 47% as lending stays strong

According to Bloomberg's data on analysts' estimates, net profits of the 12 listed banks in Q1FY23 will grow 47 per cent YoY and shrink 7.8 per cent sequentially

City Union Bank, Shriram Gen Insurance tie up for distribution of products

Shriram will offer personal insurance products such as motor, personal accident, home and travel along with commercial ones such as property, marine and engineering to bank's customers

Navigating India's soft landing

Unless the geopolitical situation worsens considerably, chances of a soft landing are higher in India than in the US