Mumbai: The Association of Housing Finance Companies (HFC), the umbrella body for all mortgage lenders, has appealed to the Reserve Bank of India Governor Shaktikanta Das and the National Housing Bank to do away with the stringent asset classification guidelines announced recently. In a two-page letter, HFCs have submitted that the new rules will force … Read more
(BoB) swung back to a profit in the quarter ended June 2021 led by a growth in retail loans and a strong growth in other income. The bank reported a net profit of Rs 1,209 crore from a loss of Rs 864 crore a year ago on the back of a 16% growth in net … Read more
MUMBAI: today reported a net loss of Rs 1,047 crore due to a sharp rise in provisions for bad loans in the quarter and deterioration in asset quality on a reported basis. Analysts had expected the state-owned bank to report a net profit of Rs 1,042.6 crore for the reported quarter. The bank’s provisions for … Read more
MUMBAI: today reported a 34 per cent year-on-year decline in net profit to Rs 75 crore, which was below analysts’ estimates. The decline in profit was largely on account of higher provisioning in the quarter. The lender’s net interest income in the quarter slumped 11 per cent on-year to Rs 906 crore, which was also … Read more
Almost six months after the Supreme Court first erred by foraying outside its remit and ruling on established commercial banking practice, it undid some of the earlier damage. In a long-awaited judgment, the apex court ruled that borrowers would not be eligible for waiver of interest, extension of moratorium period, or sector-specific reliefs, among other … Read more
The Indian Banks’ Association (IBA) has started the process of identification of bad loans that can be transferred to the proposed bad bank. The bankers’ lobby group has written to the lenders, seeking a list of all bad loans above ₹500 crore. This exercise by IBA could help lenders identify the magnitude of the bad … Read more
The government could hive off the non-performing loans of the two public sector banks that are to be selected for privatisation and transfer some of their employees to other state-run lenders in a bid to make them attractive for buyers. The government is likely to consider only banks that were not part of the recent … Read more
New Delhi: Finance minister Nirmala Sitharaman has said the budget stresses on areas with high multiplier effect such as infrastructure that would facilitate the private investments with thrust being on transparency and tax stability. Healthcare and Agriculture have been the other priorities for the budget, she said. She said while the Budget provided for enhanced … Read more
Hands FullIs this regulator struggling with a staff shortage? Looks like it. The watchdog has asked employees at various regional offices to report to its headquarters before December 31. It was planning to recruit close to 150 officers but the hiring has been delayed because of Covid-19. Interestingly, with government jobs in great demand like … Read more
Just the other day at a Supreme Court hearing, this high-flying, cigar-loving senior counsel was busy quoting reams of documents to prove his client was illegally removed from the corner office. Synopsis ET’s weekly roundup of the wackiest whispers and murmurs in corporate corridors & policy parlours. Dec 21, 2020, 09:08 AM IST GIFT ARTICLE … Read more