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Banking & Financial sector

SBI Life Insurance debuts on bourses at 5% premium

SBI Life Insurance debuts on bourses at 5% premium

Tue, Oct 03, 2017

SBI Life, which is a subsidiary of State Bank of India, had raised up to Rs 8,400 crore via IPO (initial public offer). Its three-day IPO was oversubscribed by 3.58 times.

ICICI Bank launches new home loan 'Cashback' facility for its customers; This is what offer is

ICICI Bank launches new home loan 'Cashback' facility for its customers; This is what offer is

Thu, Sep 28, 2017

The new home loan 'Cashback', offers borrowers the benefit of 1% cashback on every EMI, for the entire tenure of the loan.

SBI revises service charges for Monthly Average Balance; six categories of accounts exempted

SBI revises service charges for Monthly Average Balance; six categories of accounts exempted

Mon, Sep 25, 2017

State Bank of India also decided to treat the metro and urban centres in the same category and the requirement of MAB in metro centres stands reduced to Rs 3000 from Rs 5000 earlier.

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Yes Bank's net profit jumps to Rs 965 crore in Q1FY18; 60% NPA recovered

Yes Bank's net profit jumps to Rs 965 crore in Q1FY18; 60% NPA recovered

Wed, Jul 26, 2017

The net interest income of Yes Bank in Q1FY18 stood at Rs 1808.9 crore, a growth of 44% on the back of rise in Advances & CASA and steady expansion of net interest margin.

Banks' exposure to telecom sector at Rs 97,681 crore: FM Jaitley

Banks' exposure to telecom sector at Rs 97,681 crore: FM Jaitley

Tue, Jul 25, 2017

For public sector banks, the gross Non Performing Asset (NPA) ratio and stressed advances ratio for the sector stood at 3.68 per cent and 11.29 per cent respectively, at the end of 2016-17 fiscal.

Axis Bank posts 16% drop in Q1 net profit; makes additional provisioning in these sectors

Axis Bank posts 16% drop in Q1 net profit; makes additional provisioning in these sectors

Tue, Jul 25, 2017

Axis Bank's net interest income for Q1FY18 rose by 2% to Rs 4,616 crores during Q1FY18 from Rs 4,517 crores in Q1FY17. Net interest margin for Q1FY18 stood at 3.63%.

Now individuals can also seek NCLT help to recover dues

Now individuals can also seek NCLT help to recover dues

Mon, Jul 24, 2017

The Chennai bench of NCLT has admitted the application filed by the employees after the hotel failed to pay arrears of salary, gratuity and leave salary.

Visiting an ICICI Bank ATM will now get you loan up to Rs 15 lakh instantly

Visiting an ICICI Bank ATM will now get you loan up to Rs 15 lakh instantly

Thu, Jul 20, 2017

On Thursday, the shares of the bank closed at Rs 300 per piece, down 0.68% or Rs 2.05 on BSE.

Banks lost Rs 180 crore to dacoity, burglaries in three years

Banks lost Rs 180 crore to dacoity, burglaries in three years

Tue, Jul 18, 2017

Private sector players ICICI Bank Ltd, Axis Bank and HDFC Bank Ltd respectively lost Rs 17.25 crore, Rs 37.34 crore and Rs 10.21 crore in such incidents.

ICICI Lombard General Insurance files IPO papers with Sebi

ICICI Lombard General Insurance files IPO papers with Sebi

Fri, Jul 14, 2017

Last month, on June 5, ICICI Bank had approved stake sale plan in ICICI Lombard through IPO.

Low credit demand, NPAs: RBI's Mundra urges for focus on MSMEs

Low credit demand, NPAs: RBI's Mundra urges for focus on MSMEs

Tue, Jul 11, 2017

S S Mundra said in the past few years, major initiatives have been taken by the RBI, Government and the banking industry to support the MSME sector.

Govt to push Banking Regulation Bill in Monsoon Session

Govt to push Banking Regulation Bill in Monsoon Session

Tue, Jul 11, 2017

The Monsoon Session of Parliament begins next week on July 17 and closes on August 11.

Customers should report fraud in 3 days to avoid losses: RBI

Customers should report fraud in 3 days to avoid losses: RBI

Thu, Jul 06, 2017

RBI said the revised directions are being issued amidst recent surge in customer grievances relating to unauthorised transactions resulting in debits to their accounts/cards.

Former Tata Finance MD Dilip Pendse commits suicide

Former Tata Finance MD Dilip Pendse commits suicide

Thu, Jul 06, 2017

Reportedly, a senior police official said that when Pratima called her husband multiple times for lunch, Dilip Pendse did not answered. Then she went down to check and found Pendse hanging from the ceiling fan.

From the looks of it, Rs 200 note might not be circulated via ATMs

From the looks of it, Rs 200 note might not be circulated via ATMs

Wed, Jul 05, 2017

The new Rs 200 note has a bluish tinge and has similar form factors as the Rs 2000 note.

ICICI Prudential keen to buy Sahara Life Insurance

ICICI Prudential keen to buy Sahara Life Insurance

Tue, Jul 04, 2017

Sahara Life had sold 665 policies worth Rs 1.53 crore during the April-May period of the current fiscal. The company had collected a premium worth Rs 44.68 crore from 16,058 customers in 2016-17.

RBI raises foreign investment limits in bonds, tweaks rules

RBI raises foreign investment limits in bonds, tweaks rules

Mon, Jul 03, 2017

As part of its occasional changes to investment rules, the RBI also said 75 percent of the future increases in limits for foreign investors will be allocated to the "long-term" category and 25 percent for "general."

50% provisions for IBC accounts "very reasonable": RBI's Acharya

50% provisions for IBC accounts "very reasonable": RBI's Acharya

Fri, Jun 30, 2017

Viral Acharya incharge of monetary policy making said till now, the banks have neglected the crucial aspect of provisions against the expected losses which have resulted in lack of success in earlier resolution attempts.

Raghuram Rajan was offered deputy governor's post in RBI by Y V Reddy

Raghuram Rajan was offered deputy governor's post in RBI by Y V Reddy

Mon, Jun 26, 2017

Raghuram Rajan was the 23rd Governor of the RBI between September 2013 and September 2016. Between 2003 and 2006, Rajan was the Chief Economist and Director of Research at the International Monetary Fund.

Record low credit growth: 1,000 cos borrowed Rs 1 trillion less in FY17

Record low credit growth: 1,000 cos borrowed Rs 1 trillion less in FY17

Mon, Jun 26, 2017

The outstanding loan funds as of FY15 stood at Rs 22.8 trillion, which increased to Rs 26.5 trillion in FY17. This was Rs 24.2 trillion in FY16.

Finmin pitches for extending RBI deadline on Basel III norms

Finmin pitches for extending RBI deadline on Basel III norms

Mon, Jun 26, 2017

In a recent meeting with RBI, senior officials from the ministry pitched for deferring the implementation beyond March 2019, saying it will help banks meet the capital needs and increase credit flow to productive sectors along with balance sheet clean-up.

Is farm loan waiver impact on Indian economy overestimated?

Is farm loan waiver impact on Indian economy overestimated?

Mon, Jun 26, 2017

Analysts and industry experts believe that it is the Non-Banking Financial Companies (NBFCs) and Micro Finance Institutions (MFIs) that are to take a greater hit with these farm loan waivers. A study estimated that NPA amount for cooperative credit system alone is at Rs 40,000 crore.

Ind-AS migration to raise banks' capital need by 30%: SS Mundra

Ind-AS migration to raise banks' capital need by 30%: SS Mundra

Fri, Jun 23, 2017

Mundra said banks are concentrating on lending to the manufacturing sector but needs to focus services sector also.

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