RBI has many reasons to feel that project financing is fraught with risks; bankers say draft is hurriedly sewn and, if implemented, prices would go up all around.
IDFC First Bank’s rural loan book of Rs 40,000 crore offers three benefits; CEO Vaidyanathan also believes that the bank is strategically well positioned for the future.
Despite RBI allowing on-tap licensing, CEOs of small finance banks say they would lower their unsecured loan portfolio before transitioning to universal banks.
India’s benchmark interest rates remain unchanged at 6.5% for eighth consecutive time but more voices are growing within RBI’s rate-setting panel for easier money.
Canara Bank ready to shed Rs 70,000 of low interest rate corporate loans to protect margins as it expects liquidity to be tight this fiscal; repricing of loans already started, says CEO Satyanarayana Raju.
RBI orders Edelweiss Asset Reconstruction Company and ECL Finance to cease and desist from undertaking fresh activity with immediate effect.
Some ARCs are following wrong practices of evergreening distressed loans; in extreme cases this may call for regulatory or supervisory actions, RBI Deputy Governor Swaminathan Janakiraman says.
Managing directors Setty and Ashwini Tewari are front runners for the post of SBI chairman; Dinesh Khara retires on 28 August.
The bulge in size led the RBI to make its highest-ever dividend payout of Rs 2.11 lakh crore to the central government for 2023-24.
