All stories by Abhijit Lele
HDFC Bank writes off Rs 3,100-crore NPAs in Q1Rediff.com19 Jul 2021
The country's largest private lender HDFC Bank's bad-loan write-offs doubled to Rs 3,100 crore in the April-June quarter (first quarter, or Q1) of 2021-22 (FY22), from the level of Rs 1,500 crore in the same quarter of 2020-21 (Q1FY21). It also offloaded its non-performing assets (NPAs) amounting to Rs 1,800 crore in Q1FY22 to maintain a robust asset quality profile. It had jettisoned NPAs worth Rs 1,000 crore in the last quarter. Lenders knock off stress assets from books after making full provisions. Their right to recover dues from delinquent borrowers remains intact after the write-downs.
'We'll have to live with branches for some time'Rediff.com15 Jul 2021
'67 per cent of our transactions happen digitally and about 93 per cent of transactions happen outside the branch.' 'Despite that, there is ample scope for promoting banking-related activities in branches.' 'So, for some time, we will have to, probably, live with the same structure.'
Carlyle Group to acquire controlling stake in PNB Housing FinanceRediff.com3 Jun 2021
Private equity firm Carlyle Group and associates will acquire a controlling stake of over 50 per cent in PNB Housing Finance by investing in the Rs 4,000 crore preferential issue of equity and warrants of the Delhi-based mortgage lender. After the proposed transactions, expected to be completed by January 1, 2022, Carlyle will also have the right to nominate the chairperson of PNB Housing Finance (PNB HF). This right will continue as long as it holds at least 40 per cent of the share capital on a fully diluted basis.
IDBI Bank back in black in FY21 after five yearsRediff.com5 May 2021
The bank expects to grow loan book by 10 per cent in the current financial year with calibrated exposure to corporate accounts and thrust on the retail segment.
Negative outlook list may get longer, Q1 biz to be hitRediff.com3 May 2021
At risk of entrenched rough times are sectors like hospitality and those with discretionary spends.
South Africa's FirstRand Bank to exit India after 12 yearsRediff.com23 Apr 2021
The plan was to expand further, add more branches and also eventually become the third bank in India to start a wholly owned subsidiary after Singapore's DBS Bank and State Bank of Mauritius, but those plans never materialised due to lack of scale and rising non-performing assets in the country.
Singapore-based DBS Bank plans to trim India branches in 2-3 yearsRediff.com15 Feb 2021
The combined deposits of its Indian operations stood at SGD 9 billion and net advances were at SGD 5.6 billion at the end of December 2020.
'Economy well placed to capitalise on recovery in 2021'Rediff.com6 Jan 2021
'The financial sector's performance in the first two quarters was a revelation.' 'It clearly showed the clean-up had been done in the past one-and-a-half years and that capital brought in was significantly stronger.'
From loan moratorium to digitisation, 2020 saw major shifts in bankingRediff.com30 Dec 2020
While lenders create a hype around the services offered on digital platforms, customers think otherwise, given that frustration due to the quality of service has only increased, over the years.
Why it makes sense to take personal loans from PSBsRediff.com26 Dec 2020
The interest rate offered by PSBs like SBI, BoB and BoI hover around 8.9 per cent-10.50 per cent. For private banks, the range is between 10.49 per cent and 12 per cent.
PSBs may find it hard to raise money on asset quality, governance concernsRediff.com21 Dec 2020
While the banks have cleaned up books and the space has seen consolidation after the merger exercise, the impact of big-ticket frauds of the past and the bad-loan burden remain an issue.
How SBI plans to keep YONO ahead of the curveRediff.com13 Oct 2020
Apart from fulfilling banking services, one can access more than 100 e-commerce sites, book tickets, and even pay for small value groceries through the app. The bank is now proposing to allow other banks to use this to serve their own customers.
Home, auto loan inquiry back to 2019 levelRediff.com23 Sep 2020
The public sector lenders saw the biggest rebound in inquiries in July and August 2020, most likely because they were early in recommencing operations than their private and finance counterparts.
'2 years is fair time for companies to come out of pain'Rediff.com17 Sep 2020
'The economy is expected to bounce back and things are expected to recover faster than what we previously thought.'
Challenges that Dinesh Khara, the new SBI chief facesRediff.com8 Sep 2020
Relations with the government, the bank's majority owner, are a tricky issue for all SBI chiefs, and, like all his predecessors, Khara will be closely watched for his equations with the finance ministry representative on the SBI board.
Bonanza for overseas Indian investors; ODI norms to be easedRediff.com27 Aug 2020
The net outward foreign direct investment went up from $9.1 billion in 2017-18 to $12.6 billion in 2018-19 and moved further north to $13 billion in 2019-20.
Yes Bank to take more 'Anil Ambani like steps' to recover duesRediff.com2 Aug 2020
Yes Bank CEO said the private lender is disposing some of the properties in many other cases as well. He, however, declined to elaborate on borrowers against whom such action was underway.
HDFC to set up fund to finance stressed realty projectsRediff.com7 Jul 2020
The real estate sector had been going through a rough phase even before the COVID-19 crisis, marked by falling sales and piling up of inventories.
YES Bank restructures salaries of senior leadership teamRediff.com1 Jun 2020
About 300 employees would come under the ambit of voluntary decision.
Covid-19 crisis: Slippages may jump to Rs 5.5 trillionRediff.com22 May 2020
The incremental stress is mainly from sectors including power, infrastructure, constructions, hospitality, iron and steel, telecom, and realty.