Page 15 - Banking
Tamil Nadu bank branches to work with 50% staff under new guidelines
Move follows objection and strike threat by unions over earlier instruction calling for 100% attendance
 "Tamil Nadu bank branches to work with 50% staff under new guidelines")
Top headlines: Modi unveils Taxpayer Charter; India regains $2-trn m-cap
From India regaining $2-trillion market capitalisation to Centre giving 5-month extension to renewable projects, here are top headlines this morning
 "Top headlines: Modi unveils Taxpayer Charter; India regains $2-trn m-cap")
Axis Bank raises Rs 10,000 cr via allotment of equity shares to QIBs
The board of the bank had last month approved the Rs 15,000 crore fund raise plan. The QIP was okayed by shareholders at the annual general meeting held on July 31, 2020
 "Axis Bank raises Rs 10,000 cr via allotment of equity shares to QIBs")
HDFC Bank cuts MCLR by 10 bps across tenors, effective from today
After the rate reduction, its overnight MCLR stands reduced to 7%, while one-month MCLR is 7.05%, according to the HDFC Bank website
 "HDFC Bank cuts MCLR by 10 bps across tenors, effective from today")
RBI to set up innovation hub for financial inclusion, efficient banking
The hub aims to bring solutions to the financial sector by tapping into areas such as cybersecurity, data analytics, delivery platforms, and payment services
 "RBI to set up innovation hub for financial inclusion, efficient banking")
RBI's draft code on governance: Pvt bank CEOs likely to get 15-year tenure
It could be applicable to both promoters and professionals, if allowed by the RBI
 "RBI's draft code on governance: Pvt bank CEOs likely to get 15-year tenure")
Yes Bank net profit declines 60% to Rs 45 cr in April-June quarter
The private sector lender had posted a net profit of Rs 113.76 crore in the same quarter previous fiscal
 "Yes Bank net profit declines 60% to Rs 45 cr in April-June quarter")
Banks, businesses debate decriminalising dishonouring of cheques
The government wants to change the law, more so in recent months as part of reforms helping business
 "Banks, businesses debate decriminalising dishonouring of cheques")
Explained: How OCEN is trying to keep credit disbursement challenges at bay
Network to connect lenders, loan marketplaces, borrowers on a single platform and make access to credit a matter of minutes
 "Explained: How OCEN is trying to keep credit disbursement challenges at bay")
Bank employee unions demand 5-day working week to lessen Covid-19 exposure
The association noted that while whole world is carving for four-day working, the country is still looking for a way to opt for five-days banking.
 "Bank employee unions demand 5-day working week to lessen Covid-19 exposure")
Small NBFCs may face funding challenges again as banks get choosy: CARE
Outstanding bank lending to NBFCs declined marginally to Rs 8.04 trn in May 2020 from Rs 8.12 trn in April 2020, according to RBI data
 "Small NBFCs may face funding challenges again as banks get choosy: CARE")
The perils of name lending: Banks count cost of loans in NMC collapse
Borrowing on the basis of reputation, known as "name lending", and taking on a large exposure to one person or entity is not unusual in the Gulf region
 "The perils of name lending: Banks count cost of loans in NMC collapse")
Banks must raise capital well in time to build resilience: RBI Governor
Building buffers and raising capital (for all kind of banks) will be very crucial for credit flow and resilience in financial system, says Shaktikanta Das
 "Banks must raise capital well in time to build resilience: RBI Governor")
Ensure bankers' safety, take stern action against unruly: FinMin to states
Department of Financial Services asks for action against 'unruly behaviour' after at least two attacks on employees of state-owned banks.
 "Ensure bankers' safety, take stern action against unruly: FinMin to states")
Banks go for stress test to assess the impact of Covid-19 on bad loans
Banks have undertaken stress tests to assess the level of non-performing assets caused due to economic slowdown triggered by the outbreak of Covid-19
 "Banks go for stress test to assess the impact of Covid-19 on bad loans")
A radical overhaul of bank governance
The prosaic truth is that corporate governance just doesn't happen
Market Ahead, June 8: Top factors that could guide markets this week
The SGX Nifty is indicating a gap-up open today with the Nifty likely to open at around 10,260 levels on the back of firm global cues
 "Market Ahead, June 8: Top factors that could guide markets this week")
YES Bank senior leadership team to have 30% of CTC as variable pay
Private sector lender in a statement said the leadership team has taken a conscious and voluntary decision for the restructuring of their compensation package for FY 2020-21
Covid-19: Banking slippages may rise by Rs 5.5 trn this fiscal, says report
While slippages from the corporate sector may rise by Rs 3.4 trillion, for non-corporate segments it may increase by Rs 2.1 trillion in FY21
 "Covid-19: Banking slippages may rise by Rs 5.5 trn this fiscal, says report")
Ind-AS increases provisioning pain for NBFCs amid Covid-19 pandemic
Covid-19 has led to lot of uncertainties including those pertaining to the income level of borrowers and hence, their loan repayment ability, savings habit, cash flow position of corporates
 "Ind-AS increases provisioning pain for NBFCs amid Covid-19 pandemic")
