NON BANKING SECTOR
RBI remains steadfast to take any further measures to support growth: Shaktikanta Das
Delivering the 39th Palkhivala Memorial Lecture, the governor said the principal objective during the pandemic period was to support economic activity; and looking back, it is evident that policies of the RBI have helped in easing the severity of the economic impact of the pandemic.
Stricter framework for banks, NBFCs on anvil: RBI Guv Shaktikanta Das
Reserve Bank of India (RBI) Governor Shaktikanta Das on Saturday said t...
Shoring up non-tax revenue for FY21: Govt banking on buybacks, dividends
The government will rely on proceeds from buybacks and dividends fro...
Banks gross NPA may rise to 13.5 pc by Sep 2021: RBI FSR
If the macroeconomic environment worsens into a severe stress scenario, the GNPA ratio may escalate to 14.8 per cent, the report said.
Public sector banks may follow a uniform practice on employee accountability for bad loans
Indian Banks’ Association (IBA) has formed a committee under Canara Bank ED MV Rao to look into the nuances of staff accountability. The panel will recommend steps that will be adopted by the lenders.
Sectors on which HDFC Securities is betting on in the New Year
HDFC Securities' top 10 stock picks for 2021 are: Bandhan Bank, Birla Corporation, GAIL, HPCL, HUL, Infosys, Nippon AMC, ONGC, SBI and Sun Pharma
Non-food bank credit grows 6% in November
Reversing the downtrend, credit growth to agriculture and allied activities accelerated to 8.5 per cent in November 2020 from 6.5 per cent in November 2019, the data on Sectoral Deployment of Bank Credit - November 2020, released by the Reserve Bank of India showed.
Bank credit grows 6 per cent, deposits by 11.3 per cent during December 5-18
In the fortnight ended December 4 this year, bank credit grew 5.73 per cent to Rs 105.04 lakh crore and deposits by 11.34 per cent to Rs 145.92 lakh crore. In October, non-food credit grew 5.6 per cent compared to a growth of 8.3 per cent in the same month of the previous year.
Banking sector sees improvement in health during FY20, says Reserve Bank of India
The RBI also expressed concern over rolling back the policy support given to banks to deal with the Covid-19 pandemic in the last eight months.
Gross NPAs of banks may rise to 10.1-10.6% by March 2021: Icra
The report further said the loan restructuring requests are much lower than previously estimated, supported by sharper than expected improvement in economic activities as well liquidity support through the government's emergency credit line guarantee scheme.
ICICI Bank seeks to gain market share in MNC banking
Infinite India platform offers banking solutions as well as value-added services such as incorporation of a business entity, corporate filings, licences and registrations, HR services, compliances and taxation among others, ICICI Bank said in a release.
State run non-banking finance company IFCI may be put up for strategic sale
State run non-banking finance company IFCI Ltd may be put up for strategic sale, a senior official told ET. Strategic sale indicates transfer of management control. The government currently holds 61.
2020: A year of Covid, M&A & claims for non-life insurers
At a time when the private sector is witnessing mergers and acquisitions, the central government scrapped its earlier plan to merge National Insurance Company Ltd, Oriental Insurance Company Ltd and United India Insurance Company Ltd into one.
Non-performing loans in Indian banking sector to rise in next 12-18 months: S&P
In its report titled "The Stress Fractures In Indian Financial Institutions", S&P said with loan repayment moratoriums having ended on August 31, 2020, NPLs in the banking sector will likely shoot up to 10-11 per cent of gross loans in the next 12-18 months, from 8 per cent on June 30, 2020.
Non-food bank credit growth decelerated to 5.8% in September
Within industry, credit to food processing, petroleum, coal products & nuclear fuels, leather & leather products, wood & wood products, and paper & paper products registered accelerated growth in September 2020 as compared with the growth in the corresponding month of the previous year.