Page 7 - Indian Banking System
RBI deputy governor BP Kanungo retires after completing 1-year extension
Against expectations of getting a second extension, the senior-most deputy governor BP Kanungo retired from the Reserve Bank on completion of his one-year extension on Friday. Kanungo joined the RBI in 1982 and was in charge of currency management, external investments, operations, payment, and settlement system, among others, during the four-year term as the deputy governor, which began in April 2017. The government had appointed him as a deputy governor in March 2017 when Urjit Patel was the governor and he took charge on April 3, 2017, for a three-year term ending April 2, 2020, but was given a one-year extension. There was an expectation that he might a second extension after the government had cancelled interviews for the post of the deputy governor, scheduled for March 10. As deputy governor, Kanungo headed the departments of currency management, external investments & operations, government & bank accounts, information technology, payments & settlement systems, ...
 "RBI deputy governor BP Kanungo retires after completing 1-year extension")
Stressed and not showing: Covid-19 relief hides true picture about banks
Banks seem to be doing better as India's economy recovers from the Covid-19 devastation. But be prepared for shocks when a true picture emerges, writes Devangshu Datta
 "Stressed and not showing: Covid-19 relief hides true picture about banks")
Govt to infuse Rs 14,500 crore in 4 banks, issue recapitalisation bonds
Special securities shall be non-interest bearing and no interest shall be payable on issue of the securities
 "Govt to infuse Rs 14,500 crore in 4 banks, issue recapitalisation bonds")
Moratorium verdict: Prepare for shock when a more realistic picture emerges
Loan Moratorium verdict: It also declared that compound interest will not be charged for the period of moratorium.
 "Moratorium verdict: Prepare for shock when a more realistic picture emerges")
RBI Dy Guv Kanungo may get extension; interviews to find successor nixed
The move comes at a time when the central bank is working on digital currency
 "RBI Dy Guv Kanungo may get extension; interviews to find successor nixed")
Reserve Bank loosens grip on yields at auction to leave traders guessing
RBI sold some of 10-year debt at 6.22 per cent on Friday, compared with about 6 per cent in previous auctions
Covid-19 pandemic impact will pose challenge to Indian banks in FY22: Fitch
Indian banks, particularly state banks, remained more risk-averse than in prior years, which was reflected in their weak credit growth
 "Covid-19 pandemic impact will pose challenge to Indian banks in FY22: Fitch")
Digital currency an idea that can go far, but will RBI explore it?
Skepticism is high about "Retail Direct" because previous attempts at bringing public debt to the masses haven't gone anywhere
 "Digital currency an idea that can go far, but will RBI explore it?")
RBI plans Rs 3 trillion in sovereign bond purchases to cap yield at 6%
The Reserve Bank of India has so far bought about Rs 2.5 trillion of net debt in the current financial year
How RBI plans to revive PMC Bank through a three-pronged strategy
In a first, DICGC to be roped in to fund revival; RBI to open credit line to tide over liquidity issues; minimum capital from promoter to meet 9% capital adequacy ratio; 3 investors submit final offer
 "How RBI plans to revive PMC Bank through a three-pronged strategy")
Statsguru: Bank lending in the slow lane amid Covid-19 pandemic
In a period of slowing credit growth, only PSUs have sequentially borrowed more, and that too, only from private banks
 "Statsguru: Bank lending in the slow lane amid Covid-19 pandemic")
On the chessboard: 2021 will see tectonic shifts in the banking industry
India Inc could make a re-entry into commercial banking - 40 years after the last round of bank nationalisation in 1980
 "On the chessboard: 2021 will see tectonic shifts in the banking industry")
Short-cut on bank recap
P&SB's zero-coupon bonds violate prudent accounting practices
 "Short-cut on bank recap")
Best of BS Opinion: Fifty shades of media, digital dangers, and more
Here's a selection of Business Standard opinion pieces for the day
 "Best of BS Opinion: Fifty shades of media, digital dangers, and more")
Why banks should spend on branches despite increased digital penetration
Though the functions of a branch may have not changed in years, their focus has shifted from transaction to customer retention
 "Why banks should spend on branches despite increased digital penetration")
Former PNB chief manager, two associates held in Delhi for loan fraud
A former chief manager of a public sector bank and his two associates were arrested in Delhi for allegedly misappropriating funds through a loan fraud, police said on Wednesday
 "Former PNB chief manager, two associates held in Delhi for loan fraud")
Banking system liquidity on the slide due to advance tax outflow
As of Monday, the banking system liquidity was at a surplus of Rs 4.95 trillion, as against Rs 6.13 trillion a week earlier, on the eve of the deadline for the third instalment of advance tax
 "Banking system liquidity on the slide due to advance tax outflow")
Best of BS Opinion: India's farm reforms, Covid-19 vaccine, and more
Here's a selection of Business Standard opinion pieces for the day
 "Best of BS Opinion: India's farm reforms, Covid-19 vaccine, and more")
Interchange of Rs 15 makes ATM channel unviable: NCR India's Navroze Dastur
NCR Corporation, the world's largest vendor of ATMs, has over 50 per cent share of the local market, but business could be better, says NAVROZE DASTUR
 "Interchange of Rs 15 makes ATM channel unviable: NCR India's Navroze Dastur")
S&P affirms Union Bank's long, short term rating, revises SACP to 'BB-'
The bank's capital buffers have weakened due to the its merger with Andhra Bank and Corporation Bank earlier this year
 "S&P affirms Union Bank's long, short term rating, revises SACP to 'BB-'")
