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Tags : "Banking"

Digital fever outpaces coronavirus as fear, convenience weigh

For years millions of individuals carrying the plastic card in their wallets for payment didn’t even know they could just tap their cards on the black brick-like machine at the shop as they walked out with merchandise. As fear-stricken people looked out for ways to avoid touching even their door knobs, they learnt that payments […]Read More

Banking without NPAs: The conundrum revolving around use and misuse

A news report published in this paper on Wednesday stated, ‘The Reserve Bank of India’s loan restructuring plan would be a success this time as it comes with a specific time frame and there is very little scope for misuse by either corporates or banks, said KV Kamath.Alas. What the veteran banker left unsaid is […]Read More

India’s inflation dilemma shows how post-Covid central banking is groping

By Andy Mukherjee “Did inflation targeting kill India’s growth story?” asks the headline of a recent article in the Mint newspaper. The idea of making an explicit numerical inflation goal the central bank’s primary objective came late to India. It was only in 2016 that the Reserve Bank formally took responsibility for keeping the rate […]Read More

How to fix India’s debt-laden banking system in the middle

By Raghuram RajanThe Covid-19 pandemic will create, perhaps, the most significant economic challenge for India in my memory. It does not help that GoI has allowed legacy problems to fester, leaving us ill-prepared to face the pandemic. One such problem is bad bank loans, euphemistically called ‘non-performing assets’ (NPAs).In his insightful new book, The Quest […]Read More

Aditya Puri sells shares worth Rs 843 crore in HDFC

MUMBAI: Aditya Puri, managing director and chief executive officer of the country’s largest private sector lender HDFC Bank has sold 95% of his stake valued Rs 843 crore in the bank this week. According to insider trading data published by the stock exchanges on Saturday, Aditya Puri has sold 74.2 lakh shares of the bank […]Read More

YES Bank’s circuit filter revised to 10%, stock down for

NEW DELHI: Shares of YES Bank fell 6 per cent in Friday’s trade to take its losing streak to six straight sessions. Stock exchange BSE has revised the circuit limit for the stock to 10 per cent from 20 per cent earlier. The stock fell 6.44 per cent to hit a low of Rs 13.80 […]Read More

SoftBank energy arm to raise $600 million via offshore bonds

MUMBAI: SoftBank group’s SB Energy, the Indian unit for green energy business, is raising up to $600 million in overseas green bonds being launched Wednesday. This is the first ever offshore bond sale by an Indian private company since the pandemic began. Bonds will likely mature in five years, with the company using the proceeds […]Read More

HDFC plans to raise up to Rs 1.25 lakh crore

New Delhi: Housing finance major HDFC Ltd plans to raise up to Rs 1.25 lakh crore in a year by issuing debt securities through various modes, according to its annual report for 2019-20. The Housing Development Finance Corporation (HDFC) Limited will convene its annual general meeting (AGM) on July 30 and will seek shareholders approval […]Read More

YES Bank will not pay interest on bonds due on

Mumbai: YES Bank will default its interest payment on its 10.25% upper Tier II bonds which is due on June 29, after Reserve Bank of India (RBI) declines permission for payment of interest because its capital position was below the reuqired limit. In a notice to the stock exchanges the bank said that the accumulated […]Read More