Banks Set To Raise Lending Rates, Pre-Empting RBI, Says Report

New Delhi/Mumbai: India’s struggling economy is facing a new challenge: banks are raising interest rates even though the Reserve bank of India (RBI) is leaving its rates unchanged, as risks such as surging bond yields and more provisioning requirements erode their profit. HDFC Bank, India’s second-biggest bank by assets, on Wednesday became More...

by Loknath Das | Published 4 days ago
By Loknath Das On Wednesday, February 14th, 2018
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$3.6 Billion In Hidden Bad Loans Spotlight Indian Banking Stress

SBI on Friday said an audit by the RBI showed soured debt was about Rs. 23,200 crore higher HIGHLIGHTS Audit by RBI unearthed about Rs.23,200 crore of bad loans in SBI books On Friday, SBI reported More...

By Loknath Das On Wednesday, February 14th, 2018
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RBI Announces New System To Settle Bad Loans

The RBI said that all prior schemes will be withdrawn with immediate effect HIGHLIGHTS RBI sought to push more large loan defaulters toward bankruptcy courts New rules aimed at creating harmonized, simplified More...

By Loknath Das On Friday, January 19th, 2018
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Strengthening Public Sector Banks Is Top Priority, Says Arun Jaitley

New Delhi: Having implemented the Goods and Services Tax (GST), Finance Minister Arun Jaitley today said strengthening the public sector banks is most important agenda for the next year. “There are important More...

By Loknath Das On Friday, January 19th, 2018
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Banking Sector Stares At Additional Rs. 40,000 Crore NPAs

New Delhi: The banking sector fears accretion of more than Rs. 40,000 crore of bad loans to its books following recent classification of eight consortium accounts of Axis Bank as non-performing assets by the RBI. The More...

By Loknath Das On Friday, January 19th, 2018
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Punjab National Bank Q2 Profit Beats Estimates, Shares Surge

State-run Punjab National Bank, the country’s fourth-biggest lender by assets, reported a 2 per cent rise in second-quarter profit, beating forecasts. Its shares rose over 5 per cent to Rs. 208 at day’s More...

By Loknath Das On Tuesday, January 9th, 2018
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Banks’ performance to be under scrutiny: Arun Jaitley

Finance minister Arun Jaitley on Saturday said Indian taxpayers were making a sacrifice to keep the banking system in good health and hence the performance of banks would be under the lens over the next few years. He More...

By Loknath Das On Tuesday, January 9th, 2018
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1,463 bad loan accounts owe public sector banks Rs 100 crore or more

As many as 1,463 entities account for bad loans of Rs 100 crore or more in 21 public sector banks (PSBs), finance ministry data shows. In State Bank of India (SBI) alone, 265 accounts had bad loans of more than More...

By Loknath Das On Saturday, December 30th, 2017
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Centre pumps 7,577 cr into 6 public sector banks

NEW DELHI, DECEMBER 29:   Coming to the rescue of ailing banks, the Centre has pumped in capital of ₹7,577 crore in various weak public sector banks. This capital infusion is timely and would help these banks More...

By Loknath Das On Saturday, December 30th, 2017
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A Brave New World – Will Open Banking Boost The UK Fintech Sector?

Open Banking will require major banks to share data with challengers Open banking is coming to the UK. To be more precise, from January 13, 2018, Britain’s nine largest banks and one building society will More...