Tag Archives: Banks’

Government Permits 12 PSU Banks To Raise Rs. 3,000 Crore From Market

New Delhi: In a bid to strengthen capital base of public sector banks (PSBs), the government has allowed 12 lenders to raise nearly Rs. 3,000 crore via preferential shares over and above the Rs. 22,915 crore capital support committed to them in July last year. The Finance Ministry granted approval to 12 proposals of PSBs to raise a sum of ... Read More »

Notes Ban Impact: EMIs To Fall As SBI, Other Banks Cut Lending Rates

New Delhi: Top PSU lenders State Bank of India, PNB and Union Bank on Sunday slashed their benchmark lending rates by up to 90 basis points, a day after Prime Minister Narendra Modi asked banks to priorities their lending towards the poor and middle class. The country’s largest lender, SBI, has reduced marginal cost of funds based lending rate (MCLR) ... Read More »

For Banks, Note Ban Could Bring Rs. 38,000 Crore In Treasury Windfall

Banks profitability has been hit owing to continued pressure on asset quality and weak loan growth. The note ban has the potential to drive big treasury gains for Indian banks, says a report from rating agency India Ratings. Banks are likely to see register Rs. 38,200 crore of potential treasury gains for the current financial year (2016-17) – their highest ... Read More »

Indian Banks May Raise $30 Billion Through Bonds By March 2019: Fitch

Banks need around $90 billion in extra capital by March 2019, says Fitch. New Delhi: Indian banks need around $90 billion additional capital by March 2019 and one-third of this amount is expected to be raised through bonds, according to a report by ratings agency Fitch. Indian banks are likely to become more active in the Additional Tier 1 (AT1) ... Read More »

Banks’ loans rose 5.8% in two weeks to December 9: Reserve Bank

Indian banks’ loans rose 5.8 per cent in the two weeks to Dec. 9 from a year earlier, while deposits rose 15.9 per cent, the Reserve Bank of India’s weekly statistical supplement showed on Friday. Outstanding loans rose by Rs. 46830 crore to Rs. 73.39  lakh crore in the two weeks to December 9. Non-food credit rose Rs. 38,690 crore ... Read More »

Xiaomi India Offers Discounts on Mi 5, Mi Power Banks, and More in Mi Christmas Sale

Xiaomi has announced that it will offer discounts on products such as the Mi 5 smartphone, Mi Power Banks, and Mi In-Ear Headphones Pro Gold as part of the Mi Christmas sale. The discount offers on these Xiaomi products will be available on the company’s online store, Mi.com/in, from December 19 to December 21. Under the Mi Christmas offer, interested ... Read More »

‘Indian Banks Take More Risk During Upturn In Credit Growth’

New Delhi: Indian banks tend to take more risks during times of higher credit growth while the non performing loans of private sector lenders are more reactive to changes in interest rates, says a working paper released by Switzerland-based BIS. Titled ‘Bank lending and loan quality: the case of India’, the working paper said the non-performing loans (NPLs) of private ... Read More »

‘Indian Banks Take More Risk During Upturn In Credit Growth’

New Delhi: Indian banks tend to take more risks during times of higher credit growth while the non performing loans of private sector lenders are more reactive to changes in interest rates, says a working paper released by Switzerland-based BIS. Titled ‘Bank lending and loan quality: the case of India’, the working paper said the non-performing loans (NPLs) of private ... Read More »

Banks Must Keep Deposits Record Of Scrapped, Valid Notes, Says Government

s New Delhi: To avoid any malpractices, the government has asked all public sector banks to strictly maintain a record of deposits made through both old Rs. 500 and Rs. 1,000 notes and other valid currencies. In a letter written to chief executive officers of public sector banks, the Finance Ministry asked that “maintenance of records regarding deposit of Specified Bank Note (SBN) and Non-SBN, as ... Read More »

RBI Denies Taking Action Against Cancelling Axis Bank’s Licence

Amid rumours that India’s third biggest private sector lender- Axis Bank could lose its licence over alleged money laundering activities involving the suspended employees, the Reserve Bank of India clarified that it has not initiated any action to cancel the banking licence of Axis Bank. “The Reserve Bank of India today clarified that it has not initiated any action to ... Read More »