Page 14 - Indian Banks

Bank of Baroda to sell 46 NPA accounts to recover Rs 597 crore

State-owned Bank of Baroda will conduct an e-auction of as many as 46 NPA accounts later this month to recover dues of Rs 597.41 crore. The lender, in a notification, said it intends to sell these NPA accounts to asset reconstruction companies (ARCs) / banks / NBFCs or other financial institutions (FIs) on 100 per cent cash basis, for which the e-auction will take place on June 21, 2021. The major NPA accounts put up for sale include Meena Jewels Export & Meena Jewellers Export (Rs 60.76 crore); Crystal Cable Industries (Rs 57.49 crore); J R Foods Ltd (Rs 41.60 crore); Shree Raghuvanshi Fibres (Rs 27.38 crore); Kaneri Agro Industries (Rs 24.69 crore); Man Tubinox (Rs 24.28 crore) and Aryans Educational and Charitable Trust (Rs 20.79 crore). The last date for submission of expression of interest is June 19, the bank said, adding the completion of due diligence will take place on the same day. "E-bidding timings will be from 11.30 AM to 12.30 PM with unlimited extension of 5 minutes

The road ahead for State Bank of India

The elephant in Indian banking has already become nimble-footed. Its new boss, Dinesh Khara, needs to choreograph the steps for its dance

PNB posts Rs 586 crore profit in Q4; NII jumps over 48% to Rs 6,937 crore

Sequentially, the net profit has increased 16 per cent from Rs 506 core posted in the October-December quarter

Monetary policy: RBI keeps rates unchanged, cuts growth forecast

Repo rate stays at 4%, stance accommodative; Central bank to buy Rs 1.2 trillion of bonds in Q2

State Bank of India's domestic advances growth rebounds to 5.67% in FY21

SBI said that despite the ongoing pandemic, its business growth remained robust in the financial year ended March 2021

HDFC Bank asks customers to ignore communication on crypto transactions

This communication from the bank comes after the RBI on Monday clarified that banks can no longer cite its circular on cryptocurrencies for not offering such products to customers

HDFC Bank deploys mobile ATMs across 50 cities in India amid Covid-19

These ATMs have been deployed in various metros and non-metros in view of the restrictions imposed by Covid-19, the bank said.

2nd Covid wave increased financial risks to households, small biz: Moody's

India's financial sector, the rating agency said, is the main driver of potential event risk to the sovereign

Bank frauds on the rise under Modi government, alleges Congress

The Congress on Monday alleged that banking frauds have risen under the Modi government and accused it of allowing the fraudsters to either continue functioning in the country or leave.

Karur Vysya Bank fourth quarter net profit rises 23% to Rs 104 crore

This came on account of good growth in retail loan portfolio as well as gold loan.

City Union Bank reports fourth quarter net profit at Rs 111.18 crore

Private sector City Union Bank has reported net profit at Rs 111.18 crore for the quarter ending March 31, 2021.

UCO Bank Mar qtr net profit jumps about five-folds to Rs 80 crore

The Kolkata-headquartered lender had posted a net profit of Rs 16.78 crore in the corresponding a year ago.

Banks need to monitor asset quality, prepare for higher provisioning: RBI

RBI also expressed confidence that banks are better positioned than before in managing stress in their balance sheets in view of higher capital buffers

Cyberattacks could trigger more rating actions on banks, says S&P

The banking sector is becoming more exposed to cybercrime after the Covid-19 pandemic accelerated digitalization and remote working

New credit culture

A big step by SC in allowing banks to chase personal guarantors

Dual regulation is bad

MFI issues won't be solved by state regulation

SBI eyes over Rs 10K-crore credit pipeline for health infrastructure

Ashwani Bhatia, managing director, SBI, said the bank had held discussions with firms that needed funds for building hospital infrastructure

Mumbai Angels back cloud-based neobank Nemo with undisclosed funding amount

A brainchild of IIM Ahmedabad alumni, Nemo is creating a unique business that aims to empower Indian MSMEs with the financial tools, resources, and networks that large corporations have access to

Govt likely to drop plan to decriminalise cheque bounce offences

It would seek directions from a Supreme Court panel formed to expedite the pendency of cheque bounce cases before taking a final call

IDFC First Bank planning to make home loans 40% of total portfolio

The bank has started offering prime home loans to employees of top corporates starting at 6.9 per cent