Page 36 - Banks

Wiserfunding enters Indian market, to provide lending solutions for SMEs

The investment will also be towards creating technology to connect to various public and private databases to source all inputs to fully automate its models as it already does in Europe

PM Modi meets financial regulators, discusses steps to revive economy

According to sources, the meeting discussed various steps that regulators, especially the Reserve Bank of India, can take to push economic growth staring at the risk of contraction

PM Modi to hold review meeting with banks, his first since Covid outbreak

Agenda not known yet, but meeting via video conferencing likely to be on credit flow especially to MSMEs

Banks sanction about Rs 90,000 cr to 11 million Kisan Credit Card holders

As part of the Rs 20.97 trillion stimulus package, the government had announced Rs 2 trillion of concessional credit through KCC to 25 million farmers

Risk aversion rising in banks, may hinder recovery if taken to extreme: FSR

Public sector banks chose to lend only to high-quality borrowers; there was a sharp credit contraction across all rating categories except 'AA and above', FSR points out

Banks sanction Rs 1.3 trn loans to MSMEs under credit guarantee scheme

The scheme is the biggest fiscal component of the Rs 20-trillion Aatmanirbhar Bharat Abhiyan package announced by Finance Minister Nirmala Sitharaman in May

Bank NPAs could hit nearly 15% by March 2021 in worst-case scenario: Report

Indian banks have been battling rising bad loans for years but managed to get gross NPAs down to 8.5% in March, compared to 9.3% in September 2019

India offers best destination for foreign investment in MSME, NBFC: Gadkari

Calling India as most favourable destination for foreign investment, Gadkari urged foreign investors to reap rich dividends by investing in the country's infrastructure, MSMEs, banks, NBFCs

State-run banks will need Rs 35,000-40,000 crore of additional capital: S&P

Government-owned banks in India, in aggregate, will be able to absorb the estimated credit losses without breaching the regulatory minimum, but these banks need capital to grow

Banks approve bonds, CPs worth over Rs 14,000 crore issued by NBFCs

About 46 per cent of this sum for purchase by public sector banks is for bonds or CPs rated below 'AA'

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

Canara Bank plans to raise up to Rs 8,000 cr in FY21 via equity shares

A number of public and private sector banks have outlined their capital raise plans for the fiscal to meet their growing business and regulatory requirements

Son of ex-bank staffers among three held for running fake SBI branch

The three-month-old branch came under the lens after an SBI customer noticed it in Panruti and informed his branch manager

Coronavirus will cost banks over $2 trillion in losses on loans: S&P Global

Around 60% of the losses are likely to be in Asia-Pacific, it added

Ensure safety of bank staff, act against unruly people: FinMin to states

Following the Surat incident, Finance Minister Nirmala Sitharaman had assured that the safety of all members of staff in banks is of importance

Investors advised caution, shouldn't be gung-ho about banks' Q1 updates

Moratorium extension and business flow from March may have influenced figures

Inevitability of defaults: Promoters gripe over loans being sold to ARCs

'Once the moratorium is lifted, we expect several companies to default. The bank will have no other option but to either restructure the loan or sell it to ARCs,' says a banker

RBI can frame revival plan for all banks without imposing moratorium

The RBI has to impose restrictions on lending and withdrawal activities before it can frame a revival scheme for commercial and co-operative banks, according to the previous law

Banks sanction over Rs 79,000-crore loans to 1.9 mn MSMEs, says govt

The top lenders under the scheme are SBI, HDFC Bank, Bank of Baroda, PNB and Canara Bank

HSBC revives plan to slash 35,000 jobs, freeze hiring to cut costs: Report

The bank will also maintain a freeze on almost all external recruitment, Chief Executive Noel Quinn said in the memo sent to the bank's 235,000 staff worldwide