NON BANKING SECTOR
Coronavirus impact: Banks brace for payment defaults, missed targets
Banks are likely to face significant defaults in payment and miss internal targets as more and more states announce lockdowns in the wake of the coronavirus pandemic, senior officials of a number of lenders said on Tuesday.
Banks are in uncharted waters, will need regulatory help: Amitabh Chaudhry
With short-term forbearance, most on the retail side will come out...
Covid-19: Karnataka Bank announces waiver of charges for digital transactions
Private sector lender Karnataka Bank on Tuesday announced waive...
YES Bank shares down 3% in early session
Shares of YES Bank traded 2.94 per cent down in trade at 09:54AM on Monday.
Banks’ funding costs rise with risk aversion
One-year CD rates for traditional banks and some public sector financial institutions rose between 100 and 150 basis points due to lack of demand in the secondary market.
Banks, commodity & discretionary stocks among the worst hit
FMCG and pharma stocks are expected to be the least affected and offer higher earnings stability.
Kotak Mahindra to reimburse employees, family members for COVID-19 test
The Kotak Mahindra group, which runs private sector lender Kotak Mahindra Bank, has nearly 60,000 employees. Earlier this week, the government had allowed select private sector entities to start testing for the dreaded virus, which has taken 13 lives in India and infected over 600 people. During the lockdown, the working hours for branches have been reduced to between 1000-1400 hrs.
Amid coronavirus outbreak, RBI loan breather for telcos
Experts though have called on the government to consider a three-month moratorium on operators’ revenue-share commitments for the April-June quarter FY21, which would be more significant relief for the debt-laden telecom sector that is currently reeling under the impact of the adjusted gross revenue (AGR) payments crisis.
Financial stocks help drive Sensex above 30,000-mark
Kotak Securities is positive on ICICI Bank and Bajaj Finserv in the financial space.
Private sector banks safe, RBI tells chief secretaries
Apprehension on the safety of deposits in private banks is highly misplaced, the letter says asking chief secretaries.
RBI enhances repo auction amount to Rs 50,000 crore from Rs 25,000 crore
Such enhancement is likely to cushion some of the impact of disruptions caused by Covid-19.
Sebi allows non-bank custodians to manage gold, related instruments
The regulator has amended Securities and Exchange Board of India (Mutual Funds) Regulations, 1996.
Federal Bank says well capitalised, asset quality healthy
Federal Bank on Friday said its asset quality is healthy and the capital adequacy is much above the regulatory requirement, amid broader concerns triggered by the Yes Bank crisis.
Government directs PSUs to enforce work from home for half of their non executive staff
To avoid crowding in heir respective offices, plants, units, etc. all heads of CPSEs have been asked to draft a weekly roster keeping in view their work/production exigencies for the non- executive staff in such a manner that not more than 50 per cent of their non executive staff attend the office every day.
LGT Lightstone Aspada leads $7 million funding round in micro-lender SmartCoin
Bengaluru-based startup to use proceeds to grow its loan book to Rs 1,500 crore, and double its user base to 10 million in the next 12 months.
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