Capital and liquidity buffers are reasonably resilient to withstand future shocks, RBI Guv Shaktikanta Das said.
Bad loans could swell to 11.22% of the advances under a severe stress scenario, RBI said; there is incipient signs of stress among medium and small units.
Centrum group needs to transfer stake in small finance bank to non-operative financial holding firm. Other conditions relate to capital infusion, listing and corporate structure.
RBI issues guidelines on distribution of dividends by NBFCs; move to infuse greater transparency and uniformity in practice.
CSB Bank enters into a partnership with the NBFC to source and manage retail gold loan assets. This will help the bank to penetrate into the lower strata of customers and rural areas.
RBI grants in-principle nod to Centrum to set up a small finance bank. BharatPe to have 50% stake in the SFB. Amalgamation of PMC Bank is next step.
Canara Bank will be lead sponsor of National Asset Reconstruction Company Ltd with 12% stake in the bad bank entity.
HDFC Bank will refund GPS device commission charged to auto loan borrowers between FY14 to FY20; move probably prompted by RBI directive that is set to stop the bank from being haunted by a past sin.
HDFC Bank expects SME loans to be fastest-growing segment over next 3-5 years; plans to leverage its distribution in non-urban markets and digital strengths.
Covid-19 can result in balance sheet impairments as regulatory reliefs are rolled back, warns RBI governor Shaktikanta Das.
Punjab & Sind Bank’s floating auto loan rate is 7.10%; rate is even lower at 6.80% for govt staff who are maintaining salary account with the bank.
Union Bank of India posts Q4 standalone net profit of Rs 1,329.77 cr compared to loss of Rs 2,503.18 cr a year ago.
