As first woman CEO of Union Bank of India, Manimekhalai symbolises change. There is new aggression in the bank as she talks of acquisitions, taking it to third spot and creating verticalisation of branches.
Legacy bad loan issues are out of the way, core operating profit has hit almost Rs 1,000 crore, loan book is growing and deposit base is healthy.
When Murali Ramakrishnan took guard at South Indian Bank as CEO, he had to battle against legacy corporate loans which had turned sour, clean up books and build new credit profile. Here is a report card on the bank’s turnaround story.
Anshu Jain, the former co-chief executive of Deutsche Bank AG, died in London on Saturday after a five-year battle with duodenal cancer.
Canara Bank, ICICI Bank and Union Bank of India were few outliers who had anticipated hikes in interest rates and subsequent rise in yields on their bond portfolios.
Loan recovery agents, hired by regulated entities including banks, NBFCs and ARCs, cannot intimidate or harass borrowers, RBI said.
Digital lending apps and lenders will fall under increased scrutiny and supervision as RBI sets guidelines after several complaints were lodged against many such apps for indulging in frauds and unlawful activities.
Global uncertainty to prevent significant appreciation in rupee; experts expect currency to stay range bound between Rs 78.80 to Rs 79.60 per dollar over next week.
10-year benchmark bond yield to stay between 7.20% to 7.45% with the markets having factored in RBI’s interest rate hike, market experts said.
Period of decadal low home loan rates over; corporate borrowers to bear less of the hike than retail customers.