Page 37 - Banks
Top headlines: IPO filings dry up, challenges for Maruti Suzuki, and more
From IBM dropping its facial recognition software, Irdai withdrawing its long-term covers on motor to FM telling banks to improve interest rate transmission, here are the top headlines on Wednesday
 "Top headlines: IPO filings dry up, challenges for Maruti Suzuki, and more")
FM Nirmala Sitharaman tells banks to improve interest rate transmission
The FM told bankers that interest rate transmission is not happening as expected
 "FM Nirmala Sitharaman tells banks to improve interest rate transmission")
Centre warns banks on delays in disbursing Rs 3 trn loans to MSMEs
Urges units facing any such delay to write to it, assured corrective action and disbursement of loan
 "Centre warns banks on delays in disbursing Rs 3 trn loans to MSMEs")
Oil rescues big banks' commodities profits as gold income tumbles
The banks' net revenue from trading, selling derivatives and other activities in the commodities sector was around $1.5 billion over January-March, the financial industry analytics firm said
 "Oil rescues big banks' commodities profits as gold income tumbles")
RBI imposes penalties on three banks for non-compliance of norms
Bank of India suffers Rs 5 cr fine, Karnataka, Saraswat hit with Rs 1.2 cr and Rs 30 lakh penalty
 "RBI imposes penalties on three banks for non-compliance of norms")
Banks not passing rate cut benefits to borrowers, developers: CREDAI to RBI
RBI has directed the banks to link floating rates on housing loans to external benchmarks
 "Banks not passing rate cut benefits to borrowers, developers: CREDAI to RBI")
Don't fear CBI, CVC, CAG; extend loan to eligible borrowers: FM to bankers
In case of default, the individual bank or official will be hauled up, she said in a conversation with BJP leader Nalin Kohli uploaded on the party's social media platforms
 "Don't fear CBI, CVC, CAG; extend loan to eligible borrowers: FM to bankers")
Banks bat for package for beleaguered aviation, hospitality, realty sectors
Public sector bank executives said these three sectors have been hit badly in the immediate aftermath of lockdown announced in March 2020
 "Banks bat for package for beleaguered aviation, hospitality, realty sectors")
Banks, financial cos must be allowed to avail credit insurance: Irdai group
Trade credit insurance covers a seller against the risk of non-payment by its customers arising due to willful default or insolvency
 "Banks, financial cos must be allowed to avail credit insurance: Irdai group")
Covid-19 crisis: Slippages may jump to Rs 5.5 trillion, says India Ratings
Credit costs could touch Rs 2.7 trillion
 "Covid-19 crisis: Slippages may jump to Rs 5.5 trillion, says India Ratings")
Covid-19 crisis: Banks seek relaxed NPA norms, moratorium extension
Senior bank executives said the Indian Banks' Association (IBA) has already approached the Reserve Bank of India with a plea for easing regulatory norms
 "Covid-19 crisis: Banks seek relaxed NPA norms, moratorium extension")
Stimulus will keep NBFCs and MFIs afloat, but won't be able to revive them
It is important to wait for the entire package to come to see if the measures will improve demand in the economy in any manner
 "Stimulus will keep NBFCs and MFIs afloat, but won't be able to revive them")
Banks to breathe easy as govt's Rs 3.7 trn package brings relief for MSMEs
Wednesday's package also addressed some concerns in power and real estate
 "Banks to breathe easy as govt's Rs 3.7 trn package brings relief for MSMEs")
FM has leveraged banks and PSUs to deliver the goods
The credit angle is interesting for them as the Rs 3 trillion to be disbursed by banks would go as collateral free debt for four years with a 12-month moratorium
 "FM has leveraged banks and PSUs to deliver the goods")
Jet Airways stake sale: Lenders to invite fresh expression of interest
The committee of creditors (CoC) of Jet is likely to come out with a revised EoI for the stake sale in the defunct airline on Wednesday, said a source.
 "Jet Airways stake sale: Lenders to invite fresh expression of interest")
Yields jump 20 bps on borrowing target hike, banks stem free fall
The government had surprised everyone with a revised borrowing programme of Rs 12 trillion, against Rs 7.88 trillion originally planned
 "Yields jump 20 bps on borrowing target hike, banks stem free fall")
FM to discuss credit flow to NBFCs, businesses with banks on Monday
The FM will take stock of the credit sanction and disbursement by the banks since March 1, 2020, and the Covid-19-related emergency credit lines opened by the lenders
 "FM to discuss credit flow to NBFCs, businesses with banks on Monday")
Cloud over online AGM for banks as they don't fall under Companies Act
MCA notification doesn't include banks as they are governed by separate Act; sources say separate guidelines may have to be issued for them
 "Cloud over online AGM for banks as they don't fall under Companies Act")
Lockdown woes: Property developers bank on online tools to generate sales
March quarter has already seen a 30 per cent drop in residential sales and the whole year is expected to see a similar drop in sales and generating sales is crucial to developers
 "Lockdown woes: Property developers bank on online tools to generate sales")
RBI governor discusses NBFC liquidity, moratorium with bank chiefs
The meetings were also attended by deputy governors and other senior officers of the central bank, RBI said in a statement on its website
 "RBI governor discusses NBFC liquidity, moratorium with bank chiefs")
