Page 28 - Banks
J&K Bank defers board meet on proposed Rs 500 cr-capital infusion from govt
Jammu & Kashmir Bank (J&K Bank) has postponed its board meeting to discuss the proposal of Rs 500 crore capital infusion from the state government. The meeting of the board of directors of the bank scheduled for Wednesday, May 12, 2021 to consider/discuss the proposal of capital infusion by the government of Jammu & Kashmir to the tune of Rs 500 crore in the bank stands postponed, the bank said in a regulatory filing. The bank has not given the reason behind the postponement. The new date for the said meeting shall be communicated separately, it added. Stock of J&K Bank traded at Rs 26.10 apiece on BSE, up 2.76 per cent from previous close.
 "J&K Bank defers board meet on proposed Rs 500 cr-capital infusion from govt")
Jose Kattoor named RBI Executive Director with effect from May 4
In charge of Human Resource Mgt Dept, Corporate Strategy and Budget Dept and Rajbhasha
 "Jose Kattoor named RBI Executive Director with effect from May 4")
National Asset Reconstruction Company to be operational next month: IBA CEO
National Asset Reconstruction Company Ltd (NARCL), the name coined for the bad bank announced in the Budget 2021-22, is expected to be operational in June
 "National Asset Reconstruction Company to be operational next month: IBA CEO")
Banks want RBI to relax NPA norms for lockdown-stressed MSME sector
Bankers request extension of NPA classification norms to 180 days from 90 days currently
 "Banks want RBI to relax NPA norms for lockdown-stressed MSME sector")
Banks using unseen digital cash could bring down fees on foreign transfers
Blockchain technology used between banks to settle claims could significantly lower the cut taken from customers
 "Banks using unseen digital cash could bring down fees on foreign transfers")
 "De-risking the Risk Business webinar series - IFRS 17: From Compliance to Business Transformation")
SBI, Equitas SFB: How to trade bank stocks post latest RBI announcements
The RBI has announced a few steps to encourage small finance banks (SFBs) to increase the credit flow to small borrowers
 "SBI, Equitas SFB: How to trade bank stocks post latest RBI announcements")
Project Future-Ready: HDFC Bank rehauls organisation set-up, top-deck roles
The bank is reorganising itself into three clear areas of business verticals, delivery channels and technology/digital to further build its execution muscle
 "Project Future-Ready: HDFC Bank rehauls organisation set-up, top-deck roles")
SBI business activity index falls below pre-Covid level as lockdowns return
Pandemic second wave might reach its peak "around 20 days from now, says lender's report
 "SBI business activity index falls below pre-Covid level as lockdowns return")
Restructuring Deutsche Bank shows strongest quarter in seven years
The bank's long-running restructuring showed in lower costs
 "Restructuring Deutsche Bank shows strongest quarter in seven years")
Bajaj Fin, Axis Bank, Maruti Suzuki: Strategies for stocks post Q4 results
Upon crossing the immediate resistance, Axis Bank's stock may see a rally towards Rs 750 and Rs 765-mark
 "Bajaj Fin, Axis Bank, Maruti Suzuki: Strategies for stocks post Q4 results")
Banks with assets of more than Rs 15,000 crore must hire two auditors
Any bank with a balance sheet of less than Rs 15,000 crore can have one statutory auditor. However, in all cases, concurrent auditors cannot be appointed as statutory auditors
 "Banks with assets of more than Rs 15,000 crore must hire two auditors")
RBI issues guidelines for appointment of statutory auditors of banks, NBFCs
The Reserve Bank of India on Tuesday issued guidelines for appointment of statutory auditors of banks and non-banking finance companies (NBFCs), including housing finance companies
 "RBI issues guidelines for appointment of statutory auditors of banks, NBFCs")
Covid: Bank branches to reduce business hours, offer basic services
In the wake of surge in coronavirus cases across the country, Indian Banks' Association mandates 50% attendance for banks, business hours to be reduced to 10 am-2 pm
 "Covid: Bank branches to reduce business hours, offer basic services")
DBS to buy 13% stake in privately-held Chinese lender for $814 million
DBS is Southeast Asia's largest bank
 "DBS to buy 13% stake in privately-held Chinese lender for $814 million")
These bank stks may tank up to 18% as second Covid wave threatens recovery
The next support for the Nifty Bank index is at 30,000. Any breach of the same may result in a bearish trend towards 28,000-mark
 "These bank stks may tank up to 18% as second Covid wave threatens recovery")
Citi may be spoilt for choice for consumer business suitors: Analysts
Process may take more than a year to complete, say analysts; business as usual as of now
 "Citi may be spoilt for choice for consumer business suitors: Analysts")
Four entities apply for universal bank, four others for SFB licence
Entity backed by Flipkart co-founder Sachin Bansal announced its intent for universal bank in Jan 2020
 "Four entities apply for universal bank, four others for SFB licence")
Bank earnings: Loan growth to improve, SC gives clarity on asset quality
Lenders are expected to show quarter on quarter improvement in loan growth, say analysts.
 "Bank earnings: Loan growth to improve, SC gives clarity on asset quality")
SBI collects Rs 300 cr from zero balance accounts in 5 years: Study
Several banks, including State Bank of India (SBI), have been imposing excessive charges on certain services provided
 "SBI collects Rs 300 cr from zero balance accounts in 5 years: Study")
