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.
Bank of India posts profit of Rs 250 cr in Q4 due to lower provisions against bad loans
Punjab National Bank to have stake in NARCL; transfer Rs 8,000 cr of NPAs to the proposed bad bank for resolution.
Niti Aayog finalises names of state-owned banks to be privatised in current fiscal to the Core Group of Secretaries on Disinvestment.
