Banking

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Coronavirus Lockdown: RBI may extend moratorium on repayment of loans for three more months, says report
Business

Coronavirus Lockdown: RBI may extend moratorium on repayment of loans for three more months, says report

With the government extending the nationwide lockdown up to 31 May, the Reserve Bank of India (RBI) is likely to extend the moratorium on repayment of loans for three more months, according to an SBI research report

Former liquor baron Vijay Mallya loses leave to appeal against extradition in UK Supreme Court
India

Former liquor baron Vijay Mallya loses leave to appeal against extradition in UK Supreme Court

Vijay Mallya on Thursday lost his application seeking leave to appeal in the UK Supreme Court, in a setback for the embattled liquor baron who last month lost his High Court appeal against an extradition order to India on charges of fraud and money laundering related to unrecovered loans to his now-defunct Kingfisher Airlines

RBI slaps Rs 5 lakh fine on UCO Bank for violating govt bond holding norms
Business

RBI slaps Rs 5 lakh fine on UCO Bank for violating govt bond holding norms

Public sector lender UCO Bank on Thursday said the Reserve Bank has imposed a penalty of Rs 5 lakh for violating norms on government bond holding

Bandhan Bank expects recovery of loans extended to micro-credit customers to start from second quarter of FY21
Business

Bandhan Bank expects recovery of loans extended to micro-credit customers to start from second quarter of FY21

Private lender Bandhan Bank said on Thursday that recovery of loans extended to micro-credit customers will happen from the second quarter of the 2020-21 fiscal

Bankers welcome economic package announced by govt, say will encourage lending to MSMEs
Business

Bankers welcome economic package announced by govt, say will encourage lending to MSMEs

The various initiatives announced by the government on Wednesday to support micro, small and medium enterprises (MSMEs) will encourage banks to lend more to the sector, bankers said

Former liquor baron Vijay Mallya asks govt to accept loan repayment offer, close case against him
Business

Former liquor baron Vijay Mallya asks govt to accept loan repayment offer, close case against him

Embattled liquor baron Vijay Mallya, who is fighting against his extradition to India, on Thursday asked the government to accept his offer to repay 100 percent of his loan dues and close case against him

Kotak Mahindra Bank Q4 net profit down 4% to Rs 1,952 cr; bad loans marginally up at 2.25%
Business

Kotak Mahindra Bank Q4 net profit down 4% to Rs 1,952 cr; bad loans marginally up at 2.25%

Kotak Mahindra Bank on Wednesday reported 4 percent decline in consolidated net profit at Rs 1,951.82 crore for the fourth quarter ended March 2020 due to COVID-19 related provisions

Bandhan Bank Q4 net profit at Rs 517 cr; gross non-performing assets fall to 1.48%
Business

Bandhan Bank Q4 net profit at Rs 517 cr; gross non-performing assets fall to 1.48%

Bandhan Bank on Tuesday said its net profit for March quarter, 2019-20 stood at Rs 517.28 crore

SEBI eases compliance norms on consolidated results for banks, insurance companies
Business

SEBI eases compliance norms on consolidated results for banks, insurance companies

Markets regulator SEBI on Tuesday gave relaxation to listed banks and insurance companies for publishing consolidated financial results for June quarter in the wake of coronavirus pandemic

Coronavirus Lockdown: PSBs have sanctioned loans worth Rs 42,000 cr to MSMEs, corporates so far
Business

Coronavirus Lockdown: PSBs have sanctioned loans worth Rs 42,000 cr to MSMEs, corporates so far

Public sector banks have sanctioned loans worth Rs 42,000 crore to the MSME sector and corporates since the start of the lockdown

State Bank of India hikes home loan rates by up to 30 basis points; other lenders may follow suit
Business

State Bank of India hikes home loan rates by up to 30 basis points; other lenders may follow suit

State Bank of India (SBI) has raised its home loan rates that are linked to repo rate by up to 30 basis points, a move which may be followed by other lenders

RBL Bank net profit declines 54% to Rs 114 cr in March quarter; bad loan provisions spike manyfold
Business

RBL Bank net profit declines 54% to Rs 114 cr in March quarter; bad loan provisions spike manyfold

RBL Bank on Thursday reported a 54 percent decline in its net profit to Rs 114 crore for the March 2020 quarter, as the provisioning for bad loans spiked manyfold

Yes Bank creates stressed asset management vertical to resolve NPA accounts
Business

Yes Bank creates stressed asset management vertical to resolve NPA accounts

Having recognised a huge quantum of non-performing assets (NPAs) in the past few quarters, Yes Bank has created a dedicated stressed asset management vertical to recover and resolve such accounts that have touched Rs 50,000 crore, a top official said on Thursday

SBI to extend moratorium to NBFCs to tide over coronavirus pandemic crisis, says MD Dinesh Kumar Khara
Business

SBI to extend moratorium to NBFCs to tide over coronavirus pandemic crisis, says MD Dinesh Kumar Khara

The country's largest lender SBI has decided to extend the RBI-approved moratorium to the cash-strapped NBFC sector to help them tide over the crisis, its MD Dinesh Kumar Khara said on Thursday

Coronavirus crisis: Major lenders revive idea of 'bad bank' to deal with high NPAs; 'this is right time to work it out', says SBI CMD Rajnish Kumar
Business

Coronavirus crisis: Major lenders revive idea of 'bad bank' to deal with high NPAs; 'this is right time to work it out', says SBI CMD Rajnish Kumar

Rajnish Kumar said that the idea of bad bank was not feasible three years ago, when talk began that banks should spin off bad assets into a separate company to unburden existing banks.

Kotak Mahindra Bank declares 10%  pay cut for staff with over Rs 25 lakh annual salary
Business

Kotak Mahindra Bank declares 10% pay cut for staff with over Rs 25 lakh annual salary

Private sector lender Kotak Mahindra Bank has decided on a 10 percent pay cut for the employees earning above Rs 25 lakh per annum, in a business sustainability move amid the COVID-19 pandemic, according to a communication

IOB, Bank of Maharashtra cut lending rates; personal, car and home loan EMIs to become cheaper
Business

IOB, Bank of Maharashtra cut lending rates; personal, car and home loan EMIs to become cheaper

State-owned Indian Overseas Bank and Bank of Maharashtra on Wednesday announced a reduction in their marginal cost of funds based lending rate (MCLR)

Yes Bank fraud case: Enforcement Directorate files charge sheet against Rana Kapoor on money laundering charges
Business

Yes Bank fraud case: Enforcement Directorate files charge sheet against Rana Kapoor on money laundering charges

The Enforcement Directorate (ED) on Wednesday filed a charge sheet against Yes Bank co-founder Rana Kapoor, arrested on money laundering charges, in a special court here

Sensex ends over 260 points lower at 31,454; Nifty falls 87.90 points to 9,206; except energy, infra, all sectoral indices in red
Business

Sensex ends over 260 points lower at 31,454; Nifty falls 87.90 points to 9,206; except energy, infra, all sectoral indices in red

The Sensex surrendered all its early gains to end 262 points lower on Tuesday due to emergence of a sudden sell-off in financial stocks at the fag-end of the sessio

Public sector banks' NPAs likely to rise by 2-4%; may push govt to recapitalise via RBI reserves, bonds: Report
Business

Public sector banks' NPAs likely to rise by 2-4%; may push govt to recapitalise via RBI reserves, bonds: Report

State-owned banks' non-performing loans are likely to rise by 2-4 percentage points, which will put up to $15 billion recapitalisation pressure on the government in FY21, a foreign brokerage firm said on Tuesday