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Govt asks banks to open 15,000 branches in FY21

Thursday, January 16, 2020, 3:36 PM

Govt asks banks to open 15,000 branches in FY21

In a scramble to meet its financial inclusion agenda, the federal government handed lenders a list of location wise branches to be opened by both state-run and private banks, said the source. Lenders including State Bank of India, Bank of Baroda, HDFC Bank and ICICI Bank will open 14,000-15,000 branches in the coming year to reach the unbanked as per a government directive.

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NBFC/HFC bankruptcy provisions positive for banks: Moody's

Monday, November 25, 2019, 8:33 PM

NBFC/HFC bankruptcy provisions positive for banks: Moody's

To allow bankruptcy proceedings against non-banking financial companies (NBFCs) is positive for banks as its paves the way for orderly resolution of stressed shadow banks, says a report. The government recently empowered RBI to refer stressed NBFCs and HFCs with assets worth of at least Rs 500 crore to insolvency courts after notifying Section 227 of the Insolvency and Bankruptcy Code.

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RBI issues new guidelines over private bank CEO remuneration

Monday, November 4, 2019, 8:52 PM

RBI issues new guidelines over private bank CEO remuneration

The Reserve Bank of India has said at least half of the remuneration of private sector bank chief executives, whole time directors and material risk takers should be linked with their performance at individual and company level to reflect pay for performance principles. RBI has also streamlined the clawback rules for whole time directors and material risk takers to penalise weak financial performance.

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RBI bans use of agents to chase loans

Tuesday, October 22, 2019, 4:11 PM

RBI bans use of agents to chase loans

Banks will have to change the way they chase retail loans. The Reserve Bank of India (RBI) has banned the use of direct selling agents (DSAs) to source retail loans and carry out physical verification of documents of borrowers. This was communicated by the central bank in a response to queries raised by the banking industry, two senior bankers told.

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Banks seek deferred tax assets clarity

Thursday, October 3, 2019, 10:51 AM

Banks seek deferred tax assets clarity

Banks that are looking to move to the new tax regime will have to write off or reinstate deferred tax assets (DTAs). Banks with huge DTAs on their books have reached out to the RBI to synchronise its provisioning norms with the recently-announced tax rates. Banks are hoping RBI prescribes a methodology so they can write these off over next three to five years.

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Banks plan uniform lending policy in jewellery sector

Thursday, August 1, 2019, 11:18 AM

Banks plan uniform lending policy in jewellery sector

Banks are in the process of implementing uniform policies to streamline the loan processes to gems and jewellery (G&J) industry, a senior banker said. He said one of the main challenges for the unit in the sector is obtaining credit from banks as there is a lack of uniform approach in terms of norms for security and margins, among lenders.

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Damned if you do, damned if you don't: Mallya lashes out at banks

Thursday, March 28, 2019, 6:28 PM

Damned if you do, damned if you don't: Mallya lashes out at banks

A day after banks recovered Rs.1,008 crore by selling shares held by Vijay Mallya in United Breweries, the liquor baron tweeted, "So much so for branding me a thief who stole PSU Bank money and ran away". "All included in my settlement proposal too. Damned if you do and Damned if you don't is how I am treated," he added.

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Lenders may pick up substantial stake in Jet Airways

Friday, March 22, 2019, 8:58 PM

Lenders may pick up substantial stake in Jet Airways

This might just come as a new lease of life for the cash-strapped Jet Airways, which is waging a battle on many fronts. The lenders of the debt-laden carrier are pressing for a change in management, government sources told ETNow. They are believed to be weighing a plan to sell the company after securing a stake.

News

 
China banking regulators tell banks to boost support for rural economies

Sunday, March 10, 2019, 12:32 PM

China banking regulators tell banks to boost support for rural economies

China's banking and insurance regulators have issued a notice to commercial banks to boost financial support for country's rural-areas. In a notice issued on March-8, the China Banking and Insurance Regulatory Commission told commercial banks to fulfill special lending targets, including those for achieving faster increases in loans to farmers and other businesses in rural areas. The notice did not refer to specific targets.

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ED may allow banks to sell Mallya's attached shares

Thursday, February 14, 2019, 11:44 AM

ED may allow banks to sell Mallya's attached shares

The Enforcement Directorate, through a consortium of banks led by the State Bank of India, has informally conveyed to Heineken NV, part-owner of United Breweries, that it plans to allow banks to auction attached shares of the Indian beer maker soon after it gets a court's approval, two people with direct knowledge of the matter said.

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