Page 8 - Banking Sector
Excess credit growth to limit Indian banks' loss-absorbing ability: Fitch
Rating agency warns capital base of PSBs may come under greater strain
 "Excess credit growth to limit Indian banks' loss-absorbing ability: Fitch")
ESMA to derecognise CCIL: Banks, RBI discuss alternative clearing methods
Fresh clearing options came up in discussions with RBI, banks in touch with offshore regulators
 "ESMA to derecognise CCIL: Banks, RBI discuss alternative clearing methods")
Kotak Mahindra Bank arm to raise up to $1 billion for data centres
The firm did not reveal the fundraising plan, but sources said the lender planned to raise $500 mn-$1 billion
 "Kotak Mahindra Bank arm to raise up to $1 billion for data centres")
Savings deposit growth in Q2 slumps to 9.4% YoY while FDs gain traction
Growth of money kept in current accounts moderated to 8.8% this September, from 17.5% a year ago
 "Savings deposit growth in Q2 slumps to 9.4% YoY while FDs gain traction")
Uttar Pradesh govt asks commercial banks to step up credit flow
The UP government has said unless the credit flow is equitable across the different regions, the goal of a $1-trillion economy would remain elusive
 "Uttar Pradesh govt asks commercial banks to step up credit flow")
UTI AMC, Punjab National Bank shares jump on the stake sale plans
The stake is valued at around Rs 1,437 crore at UTI AMC's last closing price of Rs 743.5
 "UTI AMC, Punjab National Bank shares jump on the stake sale plans")
RBI's Housing Price index up 4.5% in Q2, Kochi tops chart with 11.5% rise
Four of the 10 cities in the index recorded sequential contraction, the others posted expansion
 "RBI's Housing Price index up 4.5% in Q2, Kochi tops chart with 11.5% rise")
M&M Financial Services' board approves Diwakar Gupta's appointment
Mahindra & Mahindra Financial Services on Friday said its board has approved the appointment of Diwakar Gupta as an Independent Director with effect from January 1, 2023. Gupta (69), a seasoned banker, have over 48 years of experience in banking and financial services sector. The company's board on Friday "approved and recommended to the shareholders of the company, the proposal for appointment of Diwakar Gupta as an Independent Director on the board of the company, for first term of 5 consecutive years with effect from January 1, 2023," according to a regulatory filing. He was associated with State Bank of India (SBI) for 39 years. He has worked in Aditya Birla Nuvo Ltd, Asian Development Bank, Manila, and as a member of the expert committee for resolution framework for Covid-19-related stress, constituted by RBI in 2020. Currently, Gupta is the independent director on the board of companies-- CRISIL Ratings Ltd, Mahindra Holidays & Resorts India Ltd, Holiday Club Resorts Oy .
 "M&M Financial Services' board approves Diwakar Gupta's appointment")
HDFC Bank awaiting RBI reply on subsidiary stake forbearance: Parekh
According to HDFC's latest annual report, the mortgage lender has over 10 subsidiaries, including HDFC Life Insurance, HDFC Ergo General Insurance, and HDFC Asset Management
 "HDFC Bank awaiting RBI reply on subsidiary stake forbearance: Parekh")
HDFC Bank elevates Bharucha as Deputy MD, appoints Zaveri as ED
Decision comes ahead of merger; RBI had halted move ahead of Aditya Puri's retirement
 "HDFC Bank elevates Bharucha as Deputy MD, appoints Zaveri as ED")
Banks' overnight SDF balances eligible for LCR computation: RBI
Circular embraces all commercial banks, leaves out local area banks, RRBs and payments banks
 "Banks' overnight SDF balances eligible for LCR computation: RBI")
Regulating NBFCs like banks to impair lending model: FIDC to FM Sitharaman
According to the memorandum, if NBFCs are to be regulated like banks, then the typical NBFC model of lending will suffer which will have an impact lending to the unbanked/ underbanked segment
 "Regulating NBFCs like banks to impair lending model: FIDC to FM Sitharaman")
A banker turned tech maven: Meet Sandhya Devanathan, Meta India head
Devanathan takes over the India operations after the previous incumbent, Ajit Mohan, resigned to join social media company Snap Inc
 "A banker turned tech maven: Meet Sandhya Devanathan, Meta India head")
S-P upgrades Axis Bank's long term issuer rating from 'BB+' to 'BBB-'
The upgrade reflects Indian private lender's good asset quality and expectation that the bank will maintain it over the next one to two years
 "S-P upgrades Axis Bank's long term issuer rating from 'BB+' to 'BBB-'")
Banking funds could outperform if economic recovery continues unimpeded
Global factors causing a slowdown and overexposure to this sector are key risks
 "Banking funds could outperform if economic recovery continues unimpeded")
Expect 25% slippages from restructured book: South Indian Bank MD & CEO
The bank is targeting double digit growth, Murali Ramakrishnan, MD & CEO of South Indian Bank said
 "Expect 25% slippages from restructured book: South Indian Bank MD & CEO")
Six years after demonetisation, deployment of ATMs set for biggest spike
ATM deployments had hovered between 225,000 and 235,500 units, before sniffing the 260,000-mark recently
 "Six years after demonetisation, deployment of ATMs set for biggest spike")
60% in survey report personal data breach by their loan service provider
Four out of 10 in LocalCircles study point finger towards insurance providers or banks
 "60% in survey report personal data breach by their loan service provider")
Govt raises PSB CEO term to 10 years, seeks younger talent at the top
A candidate can be appointed for 5 years initially, extendable for another five years; this is also applicable for executive directors who are also wholetime directors
 "Govt raises PSB CEO term to 10 years, seeks younger talent at the top")
Axis Bank launches 7th edition of knowledge summit 'Evolve' for MSMEs
The current edition is focused on the broader theme of 'Indian SMEs: Shifting Gears for Next Level Growth'
