Page 12 - Indian Banking Sector

Govt should keep 51% ownership for solidity in PSBs: YES Bank's Sunil Mehta

YES Bank Chairman Sunil Mehta spoke to Abhijit Lele and Pavan Lall about resetting the bank's strategy and corporate governance in banking, and what banks were to do to recover money.

Covid-19 impact: RBI may review extra-provisioning norms of June 7 circular

Terms on upgrade of accounts also likely to be tweaked as the central bank's June 7 circular may get a relook

Bank deposits grow at 11.3% but credit growth moderates, shows data

Banks have also lowered their lending rates following the cut in the benchmark rates by the Reserve Bank of India (RBI).

YES Bank gets approval to raise up to Rs 15,000 crore via FPO in July

The issue, to be managed by SBI Caps, will be launched at a substantial discount to the current market price to attract investors.

Fears about India's retail loan defaults overblown, says Macquarie

"the unanimous feedback has been that there has been a decline in the total loan book under moratorium from the 25-30% numbers reported as of end-May," analysts led by Suresh Ganapathy wrote in a note

SBI to ICICI Bank, here's how many Indian banks operate in China, Hong Kong

At Hong Kong, an important financial centre in Asia, Indian banks have had business operations for decades.

Banking system is in a Catch-22 situation: Indian Bank's Padmaja Chunduru

Indian Bank has 450,000 MSME customers who are eligible for loans guaranteed by the government.

RBI sets up panel to review corporate structure of private sector banks

The RBI said it was doing so to align regulations to meet the requirements of a dynamic banking landscape

Moratorium on loans: SC gives 3 days to FinMin, RBI to decide on interest

On March 27, the RBI had announced a three-month moratorium on all term loans in view of the Covid-induced lockdown and related disruptions.

After IL&FS crisis, Covid-19 makes NBFCs struggle despite RBI actions

While bank credit to NBFCs has seen a rise of 30 per cent year on year, credit has mostly flown into larger NBFCs with good parentage and ones with better ALM positions.

RBI proposes 10-yr term for bank promoter-CEOs, 15 yrs for non-promoters

If the CEO or WTD is not a promoter or major shareholder of the bank, that person can continue for 15 years at the bank, after which he or she must step down.

Foreign portfolio investors to pick up $300-million stake in YES Bank

The FPIs are in advanced talks with an Indian bank to act as a custodian.

Union Bank creates new organisational structure with 18 zonal offices

The bank has opened two new zonal offices in the southern part of the countryaimed at further strengthening its market share

Bank of Baroda, Union Bank of India reduce lending rates across all tenors

Bank of Baroda has revised its one-year MCLR to 7.65 per cent from 7.80 per cent

Interest waiver will impact financial viability of banks: RBI to SC

The RBI also said that the moratorium on loans, which was recently extended to August 31, is in the nature of a deferment and cannot be construed to be a waiver

Federal Bank's Q4 PBT declines 32% over provisions for Covid-19 pandemic

The bank's provision coverage ratio improved to 72.48 per cent at end of March 2020, up from 67.16 per cent in March 2019

High risk aversion of most lenders is astounding, says Bajaj Finserv CMD

Instead of extending the moratorium by another three months, it would have been better to allow lenders to offer a one-time restructuring only to those who need it, says Sanjiv Bajaj

State Bank of India slashes FD rate by 40 bps, second cut in May

The lender will also extend EMI moratorium by 3 months for all eligible customers without waiting for a request

ATMs to become virtual bank branches, accept deposits with instant credit

Close to 14.6 per cent (or 35,000) of the 240,000 ATMs in India are new-age recyclers, even though they have been around for only 3 years on the local landscape.

IDFC First Bank seniors to forgo 65% of bonus amid Covid-19 crisis

V Vaidyanathan, managing director and chief executive, will take 30 per cent cut in his compensation, including fixed compensation as well as all allowances.