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Fintech lenders have high delinquency levels in small value loans says RBI
The RBI has highlighted concerns over consumer loans, noting that over half of borrowers have three or more loans simultaneously. The Financial Stability Report flags high delinquency rates, especially among personal loans under ₹50,000 and loans from fintech lenders. Despite overall improvements in credit quality, stress in retail loans remains significant, particularly for private sector banks.
Big US banks withstand Fed's commercial real estate shock scenario
Amid economic uncertainties, the Federal Reserve's stress tests revealed big U.S. banks' resilience to a 40% drop in commercial real estate values. The tests underscored the challenges faced by regional banks and the need for robust risk assessment in the banking sector.
Yes Bank restructures workforce, lays off 500 employees in cost-cutting move
While the layoffs have happened across several verticals ranging from wholesale to retail, the branch banking segment saw a large impact, one person cited above said. The people sacked have been given severance pay amounting to three months’ salary. “Yes Bank has launched an internal restructuring exercise at the advice of a multinational consultant. So far, around 500 have been asked to go and we can see more sackings in the coming weeks,” a person aware of the development said.
ICICI Bank tops UBS to become 18th most valuable lender globally
HDFC Bank's recent market surge has propelled it to become the 18th most valuable bank globally, surpassing UBS. This intraday surge boosted HDFC Bank's market capitalization to over $162 billion, making it the second most valuable lender in India after ICICI Bank.
Northern Arc Capital raises $75 million from Dutch development bank
A non-bank lender with Rs 10,081 crore in assets plans to deploy funds from newly issued five-year non-convertible debentures to expand retail microloans, SME loans, and green projects. Managing Director Ashish Mehrotra aims to stimulate sustainable economic growth and financial inclusion through these initiatives, supported by impact investor FMO.
Jaypee Associates offers improved settlement terms to its lenders
The debt-ridden construction and infrastructure company - which was admitted for insolvency resolution proceedings earlier this month - informed the National Company Law Appellate Tribunal (NCLAT) on Monday that it has revised its offer after the appellate tribunal asked it to consider a higher amount of deposit.
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Perform or perish: Government asks PSBs to identify non-performing vendors, create negative list
The government directs public sector banks (PSBs) to blacklist underperforming service providers and collaborate to enhance efficiency. Finance ministry mandates periodic reviews of empaneled advocates' performance in Debt Recovery Tribunals (DRTs). PSBs urged to scale up utilities and peer-to-peer collaboration for improved services.
Get InvITs under purview of bankruptcy law: SBI MD
SBI official, Ashwini Kumar Tewari, urges inclusion of Infrastructure Investment Trusts (InvITs) in the Insolvency and Bankruptcy Code for lender protection. Tewari is in discussions with the Reserve Bank and government for this initiative.
RBI flags pursuit of growth at cost of risk buildup
India's banking regulator cautioned lenders against pursuing 'mindless' business growth to avoid exposing the financial system to risks. RBI Governor Shaktikanta Das emphasized the importance of balancing business growth with risk management.
Bank Nifty soars to a record high above 51,000
Private lenders drive Bank Nifty surge as traders cover bearish positions post breach of 51,000 level. Buying interest in banking stocks due to favorable risk-reward ratio.
ONDC is bulking up financial services play with consumer-facing apps
Tata Group's super app Tata Neu and credit marketplace Paisabazaar are conducting pilot studies for credit disbursals through the ONDC network, with lenders like DMI Finance and Aditya Birla Finance already integrated.
Canara Bank, Bandhan Bank among 10 lenders that saw decrease in NPAs in Q4
A debt that has been past due and unpaid for a predetermined period is known as a non-performing asset (NPA). According to Trendlyne Data, Canara Bank, Punjab & Sind Bank, Bandhan Bank, and Central Bank of India are the top banks that saw a decrease in NPA in Q4FY24. Here's a list:
Banks warned, again: Rebalance high credit-deposit growth gap
RBI warns banks about high credit-deposit ratio, urges balance in assets and liabilities without specifying an ideal ratio. CD ratio at 80%, near decade high, reflects slower deposit growth compared to credit growth.
RBI cautions micro finance lenders against usurious interest rates
The Reserve Bank of India (RBI) has warned lenders, particularly in the microfinance sector, against charging "usurious" interest rates by exploiting the regulator's freedom. While most lenders follow guidelines on the Key Facts Statement (KFS), some continue to impose undisclosed fees and high interest rates, particularly on small-value loans provided by microfinance institutions (MFIs) and non-banking financial companies (NBFCs).
Jaypee creditors pick IBC over NARCL's Rs 10,000 crore offer
Lenders plan insolvency route for debt-laden Jaypee, delaying debt sale to NARCL. Jaypee owes Rs 30,000 crore to 32 creditors, including ICICI Bank, and was admitted to NCLT recently after a six-year delay.
Lenders hope to recover at least 50% of Go First dues by auctioning land parcel
Go First Dues: Lenders will hold an auction of a land parcel measuring 94.7 acres at Thane in Mumbai on July 22. Lenders have stated that the land parcel is being sold to recover Rs 3918.5 crore. The reserve price of Rs 1965 crore equates to 50% recovery for banks.
Vedanta shares rally over 3% as SBI approves demerger plans
Vedanta's shares surged 3.6% on BSE to Rs 457.05 as SBI approved its demerger of its existing businesses into six independent entities, which is aimed for completion by December 2024.
Vedanta's demerger plan clears major hurdle with SBI approval
Vedanta's demerger aims to create distinct businesses for better market maneuverability. Credit rating agencies assign strong ratings to Vedanta's debt instruments.
Yield on Goswami Infratech’s Rs. 14,300 Cr NCDs rises from 18.75% to 22%
Goswami Infratech issued rupee-denominated zero-coupon NCDs to investors like Deutsche Bank, backed by group-level monetisation events for debt reduction.
Highway builders want infra loans provision pared to 2%
"By increasing the provisioning from 0.4% to 5%, project viability will be the biggest impediment as interest cost will increase which is turn will increase the cost of the project both for the investor as well as the government," the National Highways Builders Federation (NHBF) said in its submission to the National Highways Authority of India, the finance ministry and the Reserve Bank of India.
Heatwave shaves 2% off loan collections in May
Soaring temperatures and elections impacted loan collections in May, with lenders experiencing a drop in efficiency. They expect a rebound with the onset of the monsoon season.
Tata Sons shares are not freely transferable, say Trusts
SP Group, promoted by the Mistry family, has pledged its entire 18.5% in Tata Sons held through two entities to secure monies from private credit funds such as Ares and Farallon. Additionally, it needs to raise funds for a separate repayment due in three months and refinance existing high-cost borrowings.
PNB Housing Finance shares drop over 8% after 2.7% equity change hands
PNB Housing Finance shares experienced a significant decline of over 8%, reaching the day's low at Rs 724 in Wednesday's trading on the BSE. This drop followed a sizable block deal where 2.7% of the equity changed hands.
PNB Housing Finance likely to see stake sale worth Rs 500 crore via block deal: Report
PNB Housing Finance could see a block deal worth Rs 500 crore with undisclosed sellers. The floor price is set at Rs 717 per share, a 9% discount from the current market price. Investment Opportunities V previously sold its stake. The company reported a 26% rise in net profit in Q3 FY 2023-24.
Stock Radar: Down 30% from highs! Bandhan Bank takes support above 50-DMA; time for contra buy?
Bandhan Bank's stock price resilience and expert recommendations suggest a potential uptrend. Stay informed with insights from AVP - Derivatives Research, Prabhudas Lilladher, and the Economic Times for strategic investment decisions.
Axis, Canara Bank at bottom when comparing reasonableness of service charges vs other players
"The study found that services such as the SMS alert after an account is debited, which is mandated by the RBI, are charged by many banks. Bank of India, for instance, charges for SMS alerts of payment OTPs," said Ashish Das, professor of statistics at IIT Bombay, and the author of the study.
Indian Bank plans to raise Rs 5,000 crore via equity & Rs 7,000 crore through debt
Indian Bank plans to raise Rs 5,000 crore in equity and Rs 7,000 crore through perpetual and infrastructure bonds. This move aims to strengthen capital base and finance infrastructure projects. Government's stake to decrease.
Piramal Alternatives buys 9.85% stake in Annapurna Finance for Rs 300 cr
Piramal Alternatives, the investment arm of the Piramal Group, has picked a 9.85% stake in Odisha-headquartered micro lender Annapurna Finance through secondary equity deals.
Gayatri Projects promoters file plea against liquidation
However, a successful outcome is far from easy as any settlement with promoters under Section 12A of Insolvency and Bankruptcy Code (IBC) needs approval from 90% of lenders.
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