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When should traders place overnight positions? Good levels in intraday only? Anil Singhvi Insights

When should traders place overnight positions? Good levels in intraday only? Anil Singhvi Insights

Wed, Nov 22, 2023

EditorsTake | When should traders place overnight positions? Good levels in intraday only? What is the opinion for BTST Traders? Know from #AnilSinghvi...

Has the market digested RBI's action on unsecured loans? What will happen to NBFC and banking stocks?

Has the market digested RBI's action on unsecured loans? What will happen to NBFC and banking stocks?

Tue, Nov 21, 2023

What happened in Bank Nifty yesterday? Has the market digested RBI's action on unsecured loans? Why can there be weakness in NBFCs? Know from Anil Singhvi...

Banking Shares Tumble as RBI Tightens Lending Norms | Stock Market News

Banking Shares Tumble as RBI Tightens Lending Norms | Stock Market News

Fri, Nov 17, 2023

Shares of banks and non-banking finance companies (NBFCs) plummeted on Friday as the Reserve Bank of India (RBI) tightened norms for personal loans and credit cards. The move, aimed at curbing the surge in unsecured lending, sent shockwaves through the financial sector, with SBI Card shares falling the most by over 6%.

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Only 70% citizens feel charges on cash transaction are a bad decision: Survey

Only 70% citizens feel charges on cash transaction are a bad decision: Survey

Tue, Mar 07, 2017

The survey said, “Consumers are of the opinion that instead of reducing the cost of digital transactions, private banks are trying to show the stick to the customer and forcing them to go digital. Consumers are very concerned with the cost of digital transactions and many of them have reported that merchants are still charging 2% additional for debit, credit or wallet transactions.”

Bank strike likely on Feb 28, may dent services

Bank strike likely on Feb 28, may dent services

Sun, Feb 26, 2017

Most of the banks, including SBI, PNB and BoB, have already informed their customers that functioning of branches and offices will be impacted if the strike takes off.

Mutual Fund's exposure to bank stocks hit record Rs 1.16 lakh crore in Jan

Mutual Fund's exposure to bank stocks hit record Rs 1.16 lakh crore in Jan

Sun, Feb 26, 2017

"We could be getting close to the bottom of the NPAs (non-performing assets) cycle, valuations were not that expensive, hence funds could have preferred buying into the sector," Quantum Mutual Fund Associate Fund Manager Equity Nilesh Shetty said.

IDBI Bank approves divestment of its non-core business

IDBI Bank approves divestment of its non-core business

Tue, Feb 21, 2017

IDBI Bank in a BSE filing said, "The board of directors has approved in-principle, the proposal to divest some of its non-core investment subject to compliance with all applicable laws and regulations and subject to final approval to be obtained for each transaction by delegated authority."

Adopt tech and be agile, else become history: Mundra to banks

Adopt tech and be agile, else become history: Mundra to banks

Tue, Feb 21, 2017

Reserve Bank deputy governor SS Mundra warned that unless traditional banks quickly convert themselves in to a new-age digital banks, they face the risk of becoming history.

Online EPF withdrawal, pension fixation to be a reality by May

Online EPF withdrawal, pension fixation to be a reality by May

Sun, Feb 19, 2017

"The process of connecting all field offices with a central server is going on. We may introduce the facility for online submission of all types of applications and claims like EPF withdrawal and pension settlement by May this year," EPFO's Central Provident Fund Commissioner V P Joy told PTI.

Jaiprakash Power allots 305.8 crore shares to lenders under SDR scheme

Jaiprakash Power allots 305.8 crore shares to lenders under SDR scheme

Sun, Feb 19, 2017

In a BSE filing on February 18, 2017, Jaiprakash Power said, "We wish to inform that upon approval of allocation of conversion of part of outstanding debt amount into equity shares amongst banks and financial institutions, the stakeholders relationship committee in its meeting, has alloted 305,80,00,000 equity shares of Rs 10 each at a price of Rs 10 per share to its lenders pursuant to implementation of SDR."

Banks look for insurance as cyber threats increase

Banks look for insurance as cyber threats increase

Sun, Feb 19, 2017

According to insurance industry reports, cyber crimes are growing at 40-50% annually globally. Similarly, global cyber risk insurance premium stood at $ 3.5 billion in 2016, which was only $ 2.5 billion in 2015, amply indicating growing incidents of cyber crimes across the world.

Ahead of merger with SBI,associate SBT to raise up to Rs 600 crore

Ahead of merger with SBI,associate SBT to raise up to Rs 600 crore

Sat, Feb 18, 2017

"The executive committee of the board of directors of the bank at its meeting held on February 18, 2017 has approved the raising of up to Rs 600 crore by way of issue of Basel III compliant additional tier-I bonds by private placement," SBT said in a regulatory filing.

Citigroup cuts CEO Corbat's pay after missing financial targets

Citigroup cuts CEO Corbat's pay after missing financial targets

Sat, Feb 18, 2017

Citigroup Inc`s board of directors cut Chief Executive Officer Michael Corbat`s compensation by 6% last year after the bank missed financial targets and one-third of its voting shareholders disapproved of his prior pay package.

Demonetisation unnecessarily demonised: Aditya Puri

Demonetisation unnecessarily demonised: Aditya Puri

Sat, Feb 18, 2017

"He (Prime Minister Modi) has created transparency and traceability. He has changed the mindset (in such a way that) everybody is going to think twice about going back to their old ways and from what I understand, the conversion to digital has occurred at a pace much faster," Mahindra said at the annual NILF here.

RBI extends loan up to Rs 2 lakh against gold

RBI extends loan up to Rs 2 lakh against gold

Sat, Feb 18, 2017

The Reserve Bank has doubled the quantum of loan against gold that could be granted by Regional Rural Banks (RRBs) to Rs 2 lakh, provided the repayment period does not exceed 12 months. Earlier, the RRBs were permitted to grant gold loans up to Rs 1 lakh with bullet repayment option.

Allahabad Bank reports net profit of Rs 75 crore in Q3

Allahabad Bank reports net profit of Rs 75 crore in Q3

Mon, Feb 13, 2017

Net interest income for the quarter stood at Rs 1183.31 crore, declining by 16.44% year-on-year (YoY) and 12.31% quarter-on-quarter (QoQ).

Banks rush to buy cyber security cover as digi payments rise

Banks rush to buy cyber security cover as digi payments rise

Sun, Feb 12, 2017

"We have always seen maximum security in all our IT systems. We are now considering to avail cyber insurance covers for our customers," SBI managing director Rajnish Kumar told PTI here.

IndusInd Bank not to grow unsecured book beyond 5%

IndusInd Bank not to grow unsecured book beyond 5%

Sun, Feb 12, 2017

"We will not grow the unsecured lending book beyond 5 per cent and will continue to grow the credit cards portfolio in tandem with the overall loan growth of about 25-30 per cent," Indusind Bank's head for retail unsecured assets Anil Ramachandran told PTI.

IFCI sets NPA recovery target of Rs 600 cr for Q4 FY17

IFCI sets NPA recovery target of Rs 600 cr for Q4 FY17

Sun, Feb 12, 2017

"We intend to achieve targeted figure as we have identified 2-3 asset sales during the balance period of this fiscal," IFCI Deputy Managing Director Sanjeev Kaushik told PTI.

Indradhanush 2.0 on anvil for recapitalisation of PSBs

Indradhanush 2.0 on anvil for recapitalisation of PSBs

Sun, Feb 12, 2017

The RBI had embarked on the AQR exercise from December 2015 and asked banks to recognise some top defaulting accounts as non-performing assets (NPAs) and make adequate provisions for them. It has had a debilitating impact on banks' numbers and their stocks. The central bank has set a deadline of March 2017 to complete the AQR exercise.

Hitachi admits to systems being compromised in 2016 leading to card scare

Hitachi admits to systems being compromised in 2016 leading to card scare

Thu, Feb 09, 2017

Hitachi Payments Services said its systems were compromised by a malware which resulted in losses for over 600 customers.

Banks to bet heavily on blockchain technology in 2017: Report

Banks to bet heavily on blockchain technology in 2017: Report

Wed, Feb 08, 2017

A number of investors are looking towards blockchain technology currently with the unstable geo-political and economic situation globally.

RBI's Acharya says NPA problem require significant recapitalisation of banks

RBI's Acharya says NPA problem require significant recapitalisation of banks

Wed, Feb 08, 2017

Acharya added, "There is a need for speedy and efficient resolution of stressed assets as it probably could help in restoring the utilisation capacity in this sector while further creating healthy investment in the system and at the same time would also support banks to again start lending in the same sectors again."

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