December 2020 news archive

A few pointers on how (not) to use these news updates

• Daily banking/finance related headlines (and hyperlinks) would be posted here. No updates on weekends and public holidays…but Monday update would carry important news from the weekend
• I’ll take care that no news gets repeated, both across newspapers and across days
• I’ll post a ‘Key Terms from Today’s Headlines‘ section at the end of each day’s news, which you may want to read about further using google
• This page is not a substitute for either daily newspaper reading or monthly/weekly current affairs magazine coverage
• Please do not spend time taking down notes from this page on a daily basis. That you can do when you see the same news item in monthly current affairs magazine that you are following
• Purpose of this page: Having already gone through these headlines would help memorize facts faster when you study these again from CA magazines
• Archived news of previous months available under the ‘Daily News’ tab in the Menu

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December 31, 2020

• Business Standard
  • RCom group owes about Rs 26,000 cr to Indian banks, financial institutions
  • Union Bank gets shareholder approval to raise up to Rs 6,800 crore
  • Yes Bank elevates Niranjan Banodkar as CFO, Adlakha as HR head

• Mint
  • RBI flags post-covid challenges for banks
  • A year after PMC Bank scam, RBI says NPAs rise in urban co-operative banks

• Economic Times
  • “Pooled loan issuance” structures can help diversify borrowings for lower rated entities: ICRA
  • IFSCA permits banking units to transfer assets through participation pacts
  • Banks need Rs one lakh crore for NPAs, growth, says Reserve Bank of India
  • Profitability of NBFCs may be impacted due to loan impairment, low demand: RBI

• Financial Express
  • Banking wrong on corporate houses: Why fate of banking, public finance is uncertain
  • PMC Bank case: Bust bank invites bids for sale of yacht, jets owned by promoters of largest borrower
  • Share of loans under moratorium for NBFCs higher compared to banks: RBI
  • Private banks’ operating profit share rises to 43.4% at PSBs’ cost

Key terms from today’s headlines: NPAs; UCBs; pooled loan issuance; IFSCA; participation pacts; NBFCs; loan impairment; moratorium; operating profit

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December 30, 2020

• Business Standard
  • CCI dismisses unfair practices complaint against 4 credit rating agencies
  • AU Small Finance, ICICI Pru Life tie up to offer life insurance solutions
  • HDFC Bank may appoint new chairman in Jan as Gopinath’s tenure set to end

• Mint
  • Bank asset quality may ‘deteriorate sharply’, cautions RBI
  • SBI plays catch-up well but needs to follow up on operating metrics
  • Banks’ gross bad loans ratio fell to 7.5% at Sept-end: RBI
  • ICICI Bank buys 9.09% stake in Myclassboard Educational for ₹4.5 cr
  • Maintaining 4% inflation appropriate for India: RBI paper

• Economic Times
  • Loan restructuring requests much lower than estimated: Analysts
  • Lenders extend ICA for Reliance Home Finance resolution till March 31
  • PNB completes IT integration of all branches of two merged entities

• Financial Express
  • Banks need to gear up to meet new challenges following unwinding of measures to combat COVID: RBI
  • RBI helps India’s financial condition rebound to better than pre-pandemic level at full speed
  • RBI says 37.91% of loans were under moratorium as of August-end

Key terms from today’s headlines: CCI; CRAs; SFBs; bank asset quality; GNPA ratio; inflation range; loan restructuring; ICA; loan moratorium

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December 29, 2020

• Business Standard
  • Asset quality pressure on banks to moderate by FY22-end, says Icra
  • DHFL resolution: Oaktree Capital shoots letter to RBI, seeks fair play

• Mint
  • Debt recasts by banks to be lower than estimated at 2.5-4.5% of loans: Icra
  • Suryoday Small Finance Bank gets Sebi’s go ahead to launch IPO
  • Gross NPAs of banks may rise to 10.1-10.6% by March 2021: Icra

• Economic Times
  • Axis Bank prunes overseas presence as it consolidates local business
  • 2021 will witness lot of regulatory efforts channelled towards virtual assets: SBI official
  • Break-even year for bleeding PSU banks

• Financial Express
  • Take shareholders’ nod before appointing Shivan as MD & CEO, RBI tells Dhanlaxmi Bank
  • SBI, PNB, other Indian banks see sharp fall in NPAs; these reasons to thank for improved asset quality
  • PMC Bank money laundering case: ED summons Sanjay Raut’s wife for questioning on December 29

Key terms from today’s headlines: asset quality; debt recast; SFB; SEBI; IPO; gross NPAs; GNPA ratio; NPAs; money laundering; ED

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December 28, 2020

• Business Standard
  • Dhanlaxmi Bank may appoint former SBI official J K Shivan as its MD & CEO
  • ‘Dividend payout norms for NBFCs should come into effect from FY22’: FIDC
  • SBI Life acquires 9% stake in Paisalo Digital for Rs 186.20 cr
  • Banks will focus on cash flow-based lending in future: UCO Bank’s Ajay Vyas
  • Bankers’ sentiment on lending improves; loan demand to rise: RBI survey

• Mint
  • Punjab National Bank puts 3 stressed accounts up for sale
  • Tackling NPAs will be the biggest challenge for the banking sector next year
  • S&P affirms Indian Bank’s ‘BBB-‘ rating, removes from CreditWatch
  • Credit-deposit ratio takes a hit in 2020

• Economic Times
  • 2021: Banks brace for pandemic-hit corporates’ bad loan woes, muted credit growth
  • Bad debt fear keeps private banks away from street vendor loans

• Financial Express
  • Loan restructuring, other measures announced by govt to cushion PSBs from shock: Financial Services Secretary
  • Centre, states need to continue with counter-cyclical fiscal measures: RBI article
  • Moratorium, loan recoveries help Indian banks improve GNPA ratio, but will it sustain?
  • After RBI rap, fintech grouping comes out with code of conduct for industry
  • Central Bank of India to exit housing finance business; to sell joint venture stake for Rs 160 crore

Key terms from today’s headlines: FIDC; NBFCs; cash-flow based lending; stressed accounts; NPAs; credir-deposit ratio; loan restructuring; counter-cyclical fiscal measures; moratorium; GNPA ratio; fintech

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December 24, 2020

• Business Standard
  • HDFC, ICICI Bank and SBI, among top-10 lenders in 2020, says report
  • NIIF completes fund raise for $2.3 bn Master Fund in fifth and final round
  • RBI governor meets bankers over rate transmission, stressed assets
  • SBI extends global trade finance solutions to Israeli corporates

• Mint
  • RBI cautions against unauthorised lending apps

• Economic Times
  • NBFC collection efficiencies at their highest this fiscal says Crisil
  • Securitised pool collections improve to almost pre-pandemic levels after moratorium: Report

• Financial Express
  • HDFC’s green housing retail loans cross Rs 14,000 crore
  • RBI’s new draft on dividends to make NBFCs balance sheet strong, create surplus for fresh loans

Key terms from today’s headlines: NIIF; rate transmission; stressed assets; securitised pool collections; NBFCs

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December 23, 2020

• Business Standard
  • IDBI Bank likely to draw Rs 1,500-crore fresh equity capital from LIC
  • Securitisation volumes to get back on growth track in FY22: Icra
  • IDBI Bank falls 19% on listing of fresh shares allotted to QIBs

• Mint
  • ICICI Bank launches ‘Infinite India’: All you need to know
  • Loan sharks abuse debtors

• Economic Times
  • Government plans to set up a development finance institution in 3-4 months: DFS Secy
  • SBI Life and Apollo join the race for RCap assets
  • Central Bank of India launches contactless debit card in association with NPCI

• Financial Express
  • Interview| We need both NBFCs and banks to grow: Rashesh Shah, chairman and CEO, Edelweiss Group
  • Banks line up ARC sales as 2020 draws to close
  • Transstroy India denies fraud allegations: Do banks have proper checks in place?

Key terms from today’s headlines: securitisation; QIBs; NPCI; NBFCs; ARCs

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December 22, 2020

• Business Standard
  • Restricted launches will hurt EPC real estate players: CRISIL SME Tracker
  • GMR Infra gets nod from stock exchanges on its proposed restructuring plan

• Mint
  • SAT issues notice to Sebi on appeal filed against order in STP services matter: 63 Moons
  • NCAER forecasts India’s GDP to contract 7.3% in FY21, sees marginal growth in Q3

• Economic Times
  • L&T Finance Holdings dissolves Middle East subsidiary
  • IBC suspension likely to be extended by 3 more months amid COVID crisis
  • Need for relook at differential rates structure to help MSME: Experts

• Financial Express
  • Canada’s PSP, US’ DFC, Axis Bank invest $107 million in NIIF’s master fund

Key terms from today’s headlines: EPC; restructuring plan; SAT; SEBI; IBC; MSMEs; NIIF master fund

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December 21, 2020

• Business Standard
  • RBI Central Board meets to take stock of economy amid global challenges
  • Govt exploring setting up bad bank, all other options: DEA Secretary
  • Curbs on PMC Bank extended by 3 months, lender gets four revival proposals
  • RBI to conduct third auction of SDLs via open market operations next week

• Mint
  • Bank credit grows by 5.73%, deposits by 11.34%
  • Bank of Baroda appoints Ian De Souza as new chief financial officer
  • US Fed pledges to support economy through stimulus

• Economic Times
  • Cryptocurrencies gaining traction in India via social media campaigns
  • Indian banks pursue UK bankruptcy order against Vijay Mallya
  • IIFL Home, ICICI Bank join hands for affordable housing, MSME loans

• Financial Express
  • IDBI Bank raises Rs 1,435 crore from 44 investors
  • PMC Bank gets 4 EoIs; RBI extends limits till March
  • Punjab National Bank QIP issue falls short of target by 46 per cent

Key terms from today’s headlines: RBI Central Board; bad bank; SDLs; OMOs; cryptocurrencies; bankruptcy; MSME; QIP

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December 18, 2020

• Business Standard
  • S&P affirms Union Bank’s long, short term rating, revises SACP to ‘BB-‘
  • India wants a V-shaped recovery at any cost. But what will RBI do?
  • Icra narrows its GDP decline forecast for FY21 to 7.8% from 11% earlier

• Mint
  • Bank of Baroda appoints Ian De Souza as new chief financial officer
  • IndusInd Bank launches its first metal credit card ‘PIONEER Heritage’
  • IndusInd Bank promoters get 1 month extension to infuse remaining capital
  • Cybersecurity, data protection must to promote financial inclusion: Shaktikanta Das

• Economic Times
  • Could see rise in retail stress in coming quarters: Axis Bank
  • RBI identifies cross border payments for the second leg of ‘sandbox’ innovation
  • SBI seeks attachment of nostro accounts of Bangladesh’s Agrani Bank in India

• Financial Express
  • How trends in finance, Accounting 2020 have reshaped; banking services see rapid changes
  • Debt relief only through restructuring, not interest waiver: IBA

Key terms from today’s headlines: capital buffers; V-shaped recovery; capital infusion; cybersecurity; data protection; financial inclusion; regulatory sandbox; nostro accounts; debt restructuring; interest waiver; IBA

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December 17, 2020

• Business Standard
  • SBI Research ups projections for economy, narrows GDP contraction to 7.4%
  • Banks must focus on asset quality, capital for monetary policy impact: RBI
  • Disinvestment will now gain a lot of momentum: Finance Minister Sitharaman
  • NBFCs seek relaxation in eligibility to recover loans under SARFAESI Act
  • Insurance funds should invest in low-rated instruments: SBI chairman

• Mint
  • Cybersecurity, data protection must to promote financial inclusion: Shaktikanta Das
  • NPCI strengthens RuPay contactless with new features
  • Lenders to sell up to ₹5,000 cr stressed retail loans in Jan-Mar

• Economic Times
  • Yes Bank could face significant asset quality stress in coming quarters: Macquarie
  • NBFCs Budget Demand: Provide liquidity support, extend restructuring scheme to retail MSMEs

• Financial Express
  • Co-lending in SME sector helps banks check risk: SBI

Key terms from today’s headlines: asset quality; monetary policy; disinvestment; NBFCs; SARFAESI; cybersecurity; financial inclusion; NPCI; RuPay; liquidity support; restructuring; MSMEs; co-lending

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December 16, 2020

• Business Standard
  • High-level FSDC deliberates on measures to accelerate growth momentum
  • Allow insurance, pension funds to invest in lower-rated debt: SBI chief
  • Coronavirus pandemic dents growth of personal loans segment in FY21
  • Why a torrent of foreign funds threatens India’s tight grip on the rupee

• Mint
  • Loan disbursement by NBFC-MFIs dips 43% to ₹10,617 cr in Q2
  • India Post Payments Bank launches its digital payments’ services ‘DakPay’
  • RBI approves re-appointment of Uday Kotak as chief of Kotak Mahindra Bank

• Economic Times
  • SBI Card, BPCL jointly launch credit card offering benefits to high fuel spending customers

• Financial Express
  • RBI exempts 7 categories of accounts from ambit of current accounts circular
  • Aceware launches micro ATM service in association with ICICI Bank

Key terms from today’s headlines: NBFCs; FSDC; NBFC-MFIs; DakPay; RBI current accounts circular; micro-ATMs

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December 15, 2020

• Business Standard
  • NBFCs expect higher credit loss on Covid-19 woes, says study
  • RBI, DBS Bank to ask SC to move cases on LVB-DBS merger to one location

• Mint
  • SBI, PNB, ICICI, HDFC among 8 top banks witnessing wilful defaults surge
  • Bank of Maharashtra raises ₹200.70 cr through tier II bonds

• Economic Times
  • Private lender HDFC Bank appoints Sanmoy Chakrabarti as Chief Risk Officer
  • 42 NBFCs, housing finance companies increased their provisioning under Indian accounting: EY report
  • There is no template for bank bailouts, each case needs a different approach: Shaktikanta Das, RBI
  • Premature withdrawal of liquidity will hurt growth: Shaktikanta Das

• Financial Express
  • Retail inflation cools down in November; food prices remain benign but veggies still costly

Key terms from today’s headlines: NBFCs; wilful defaults; tier II bonds; provisioning; bank bailout; liquidity; retail inflation; CPI; WPI

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December 14, 2020

• Business Standard
  • Indian rupee at a higher risk of depreciation as oil prices surge
  • CEA foresees V-shaped recovery in industrial production going ahead
  • NBFCs may lose 1% market share to private banks by FY22: CRISIL report
  • Liquidations under IBC in Q2 jump, new applications remain subdued
  • Canara Bank raises Rs 2,000 cr via QIP; LIC emerges as largest investor

• Mint
  • No specific plan needed for invoking Resolution Framework: RBI
  • Big private lenders see their coffers swell
  • Central Bank of India to raise up to ₹500 crore by issuing bonds
  • Kotak can’t pay dividend on preference shares, says RBI

• Economic Times
  • Round-the-clock RTGS from December 14
  • Yes Bank aims to double credit card customer base in 2 years, grow book by 4-times: Head of credit card business
  • Retail loans showing some stress, but no alarm bells yet: Experts

• Financial Express
  • Bad Money review: Yet another reinforcement of the ills plaguing the banking system in the country
  • Need to have DFIs back into arena, says SBI MD
  • Finance Ministry to take call on Rs 14,500 crore capital infusion into banks in Q4

Key terms from today’s headlines: depreciation/appreciation of currency; V-shaped recovery; NBFCs; liquidation; IBC; QIP; Resolution Framework; preference shares; RTGS; bad money; DFIs; capital infusion

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December 11, 2020

• Business Standard
  • Non-life insurers see 2.7% growth in premiums in November at Rs 14,981 cr
  • Faceless Income Tax appeals deter participation in Vivad Se Vishwas scheme
  • ADB cuts India’s FY21 contraction forecast to 8% on back of faster recovery
  • India retail inflation to stay above 7% in Nov, economists say: Report

• Mint
  • RBI proposes criteria for NBFCs’ dividend payouts
  • Retail borrowers struggle with repayments

• Economic Times
  • Collection efficiency in retail loan pools of NBFCs, HFCs remains steady in October: ICRA
  • Equitas SFB launches 3-in-1 account offering various investment options
  • Gradual phase-out of moratorium mitigates asset quality cliff for Indian banks: Moody’s
  • Despite improved collections, bad loans could rise: Moody’s

• Financial Express
  • Late Payments: Banks blame fintechs for EMI bounces
  • Indian Bank aims to grow MSME portfolio riding on mentoring programme

Key terms from today’s headlines: Vivad se Vishwas scheme; ADB; inflation; NBFC; dividend; NBFCs; HFCs; SFB; moratorium; bad loans; fintech; EMI; MSME

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December 10, 2020

• Business Standard
  • ICICI Securities OFS subscribed 4.4 times on heavy institutional interest
  • Acharya warns against systemic risk building on low rates, high liquidity
  • Centre considers easing RBI’s inflation target to help growth: Report
  • NBFCs with 15% CRAR for 3 years may be allowed to pay dividend: RBI

• Mint
  • RBL Bank and ICICI Prudential Life Insurance forge bancassurance partnership
  • Blanket interest waiver on all loans to be ₹6 lakh crore: Centre tells SC
  • EMI crisis creeping up on borrowers
  • Indian Bank raises ₹1,048 cr through private placement of Basel III compliant bonds

• Economic Times
  • ICICI opens new front with mobile app interoperability, other banks may follow
  • Annual budgetary support of Rs 2,500 cr needed to support cashless payments via BHIM-UPI: Report
  • NBFC credit pressures to persist as GDP recovers: Fitch
  • IndusInd’s Ramesh Sobti likely to join Aditya Birla Capital’s board, pending RBI approval

• Financial Express
  • Economic loss would play out over 12-18 months: Amitabh Chaudhry, MD & CEO, Axis Bank
  • Loan moratorium: Blanket interest relief will wipe out half of SBI net worth, govt tells Supreme Court
  • ICICI Bank to sell 2.21pc stake in brokerage arm; sets floor price at Rs 440

Key terms from today’s headlines: OFS; systemic risk; high liquidity; inflation target; MPC; NBFCs; CRAR; dividend; bancassurance; interest waiver; EMI; Basel III compliant bonds; BHIM; UPI; GDP; loan moratorium; net worth

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December 9, 2020

• Business Standard
  • Barclays India scales down exposure to banks to Rs 3,090 cr in FY21
  • Google Pay, PhonePe account for 82% of UPI market by volume in Nov

• Mint
  • DBS buyout shows India banking sector is opening: Nirmala Sitharaman
  • Kotak Mahindra Bank introduces fitness allowance for employees

• Economic Times
  • ICICI Bank to be designated bank for all financial transactions under National Health Mission in West Bengal
  • Bill Gates calls India’s digital finance approach a global model
  • Chanda Kochhar told Videocon’s Dhoot to invest in hubby’s company: ED
  • Reliance Capital: Deadline to bid for subsidiaries extended till December 17

• Financial Express
  • RBI cancels licence of Karad Janata Sahakari Bank; 99% depositors to get full payments
  • Fitch Ratings improves India’s GDP projections; says economy recovered strongly in Q2

Key terms from today’s headlines: UPI; fitness allowance; National Health Mission; ED; UCBs; GDP

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December 8, 2020

• Business Standard
  • Maintain derivatives records for at least 2 years, RBI asks banks
  • JM Financial Services to use AIFs to grow distressed asset business
  • Economy to reach pre-Covid-19-levels by end of FY2022: Niti Aayog

• Mint
  • Fitch affirms Axis Bank’s IDR at BB-plus with negative outlook
  • We are taking steps to ensure Yono outage like incidents don’t recur: SBI MD
  • HDFC Bank’s multiple digital outages are credit negative: Moody’s
  • SBI to boost retail book, sees better earnings

• Economic Times
  • ICICI Bank launches interoperable banking app
  • Fino Payments Bank firms up plan to convert into Small Finance Bank
  • ICICI Bank tells analysts technical outages can happen anytime, banks can only reduce probability

• Financial Express
  • Bankers not to participate in Bharat Bandh on Tuesday
  • Ujjivan SFB launches neighbourhood banking channel
  • Shadow banks show signs of recovery as economy rebounds

Key terms from today’s headlines: derivatives; AIFs; NITI Aayog; Yono; Payments Bank; SFB; shadow banks

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December 7, 2020

• Business Standard
  • Tax dept allows revision of declarations under ‘Vivad Se Vishwas’ scheme
  • PNB to hold roadshow for proposed Rs 7,000 crore QIP next week
  • Covid impact: Reserve Bank asks banks not to declare dividend for FY 20
  • BBB recommends S Ramann for post of SIDBI chairman & managing director

• Mint
  • NBFCs show signs of recovery as India economy rebounds
  • SBI recasts only 4,000 retail loans
  • DBS Bank India gets ₹2,500 crore capital support from parent for LVB merger
  • ‘It’s a panel report, not RBI view’: Das on allowing corporates to start banks
  • RBI allows RRBs to access LAF, MSF windows
  • RBI to step up scrutiny of NBFCs, banks
  • Axis Bank CEO warns retail loans may sour as relief ends

• Economic Times
  • Approval from IRDAI on Axis Bank stake hike expected by March: Max Life CEO
  • GST compensation: All states take Rs 1.1 lakh crore option, Jharkhand last state to join
  • Invest more in IT infrastructure for better reach: RBI Governor

• Financial Express
  • Banks need to hire experienced chief risk officers to deal with cyber attacks: Report
  • Bankers say rates to not drop any further
  • ‘RBI ensures ample liquidity to support growth; rate cuts unlikely as inflation remains sticky’

Key terms from today’s headlines: Vivad se vishwas; QIP; BBB; SIDBI; NBFCs; loan recast; RRBs; LAF; MSF; IRDAI; GST; liquidity; inflation; rate cuts

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December 4, 2020

• Business Standard
  • Irked by outages, RBI asks HDFC Bank to halt fresh digital launches for now
  • RBI Monetary Policy: Here’s what to expect from the December meeting

• Mint
  • SBI YONO app faces system outage, restoration underway, says bank
  • Focus on surplus liquidity with rate cut seen remote
  • India’s quest to fix its payments puzzle

• Economic Times
  • Increasing private participation in banking will reduce fiscal bill: ICRA
  • High bounce rates indicate trouble ahead for lenders

• Financial Express
  • Bank of India to acquire 49% stake each in BOI AXA Investment Managers, BOI AXA Trustee Services
  • IDBI Bank puts home loan, LAP, corporate NPAs worth around Rs 970 cr on sale
  • Plan to raise Rs 5,000 cr from markets this month

Key terms from today’s headlines: MPC; YONO; surplus liquidity; fiscal bill; bounce rate; NPA

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December 3, 2020

• Business Standard
  • 60 companies submit bids for Reliance Capital’s asset monetisation
  • US company PayPal partners with Razorpay to help small businesses go global
  • China’s Ant considers Paytm stake sale amid tensions with India: Report

• Mint
  • Global bank job cuts reach five-year high
  • RBI’S MPC starts deliberation on policy rate

• Economic Times
  • The world watches as India tries a hard 30% cap to avoid tech’s anti-trust troubles
  • Insolvency resolution in India sees second consecutive quarter of under-performance
  • Banks want RBI to extend recast window till March 31, 2021
  • Goldman Sachs-led group offers Rs 1,800 crore lifeline to Birla Group’s Kesoram

• Financial Express
  • Union Bank completes integration of all branches of Corporation Bank with itself
  • Digital payments skyrocket as India steps into Unlock phase; UPI payments value surges 99% in Q2

Key terms from today’s headlines: asset monetisation; MPC; anti-trust; insolvency resolution; IBC; loan recast; UPI

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December 2, 2020

• Business Standard
  • Hedge fund revises bid for Indian shadow lender to skirt RBI delay
  • Yes Bank aims to disburse Rs 10,000 cr retail, MSME loans in Dec quarter
  • Rupee hits one-month high on foreign fund inflows, traders wary of RBI
  • SC rejects Chanda Kochhar’s plea against termination as CEO from ICICI Bank

• Mint
  • Punjab National Bank launches loan management solution to speed up delivery
  • Yes Bank eyes ₹2 trillion deposits by March
  • SBI launches RuPay JCB contactless debit card for local and international market
  • Bank capital to fall in 2 years: Moody’s

• Economic Times
  • HC pulls up RBI for leaving it to PMC bank to decide depositors requests for money in emergencies
  • Reliance Capital defaults on interest payments on HDFC and Axis term loans

• Financial Express
  • Yes Bank in talks with So Hum Bharat to take 9.99% stake in NUE
  • Tier-II write-down positive for LVB depositors, senior creditors: Moody’s

Key terms from today’s headlines: shadow lender; MSMEs; appreciation/depreciation of currency; RuPay; NUE; tier-II write-down

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December 1, 2020

• Business Standard
  • IT Dept finds Rs 450 cr undisclosed income during search across four cities
  • Bankers hope retail, SME segment will sustain credit offtake in H2
  • Madras HC refuses to stay LVB-DBS Bank merger, adjourns AUM Capital plea
  • Small lenders to pay the price as RBI writes off debt of Lakshmi Vilas Bank

• Mint
  • Indian banks to see capital decline over 2-year without fresh infusion: Moody’s
  • Quant-fueled Bitcoin drop may have further to go, JPMorgan says

• Economic Times
  • Consumers going back to credit cards as inquiries exceed October ’19 levels: Transunion Cibil
  • An RBI working group insider explains the thinking behind businessmen-as-bankers recommendation
  • Jan Dhan accounts, direct cash transfers from government boost ATMs in rural areas
  • RBI may keep policy rates unchanged
  • Large banks may move RBI to tweak loan rejig rule
  • Finmin asks PSU general insurers to cut flab; rationalise branches, other expenses: Source
  • Sidbi to handhold MSMEs for free in formulating restructuring plans

• Financial Express
  • Bank credit growth to remain slower in near term: Report
  • Why traditional banks need to partner with fintech firms for delivering essential banking solutions
  • Paytm to not charge any fee on wallet payments for merchants; move to benefit 1.70 crore users
  • Let us declare NPAs, banks to Supreme Court; govt pleads against sector-specific relief

Key terms from today’s headlines: Bitcoin; cryptocurrency; Jan Dhan Yojana; policy rates; MPC; SIDBI; MSMEs; restructuring; fintech; NPAs

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