We document that a centralization decision-making culture of global banks affects the transmission of shocks from parent banks to their subsidiaries. Using a novel measure of integration culture of multinational banking conglomerates based on the prevalence of a language of power and authority in financial reports, we find that subsidiaries of banks with a relatively more autocratic integration culture cut …
MYSURU: Borrowers are worried as micro-financing firms, private banks and some primary co-operative societies have stepped up pressure for recovery of loans, going against the spirit of Reserve Bank of India’s moratorium relief. With the lockdown norms relaxed, their agents have entered the villages knocking at the doors of the borrowers asking them to pay the weekly instalment. A few …
New Delhi: Finance Minister Nirmala Sitharaman will hold a review meeting with CEOs of public sector banks (PSBs) next week to discuss various issues, including progress on credit offtake. The meeting, scheduled to be held on October 14, is expected to review fund flow to stressed NBFC and MSME (micro, small and medium enterprises) sectors, sources said. Banks are expected to …
On-tap licensing is a time-efficient feature that will allow parties to obtain the licence on-demand basis and eligible parties won’t have to wait. The Reserve Bank of India (RBI) will issue draft guidelines for ‘on-tap’ licensing of Small Finance Banks (SFB) by the end of August 2019 with a view to enhance supply of credit to small borrowers and encourage …
MUMBAI: AU Small Finance Bank’s profit grew 42 per cent to Rs 118 crore in the March quarter led by a 50 per cent growth in loans for vehicle purchases. Net Interest Income the difference between what it paid for funds and what it earned from lending, nearly to Rs 851 crore from Rs 464 crore. “Capital raise, stable asset quality, adequate liquidity, continued growth momentum …
With insurers shouldering a record $160 billion in climate-related losses from last year alone, a group, including 30 central banks, called for measures to spur green finance and better assessment of the risks from higher global temperatures. The move, led by the Bank of France, Bank of England and People’s Bank of China, draws the group deeper into a controversial …
Mumbai: Rating agency ICRANSE 3.23 % expects small finance banks (SFBs) to grow at a compounded annual growth rate of 25% to 30% led by diversified loan growth, deposit mobilisation, improving asset quality and better return on equity. The rating agency estimates that SFBs would require external capital of Rs. 4,000-6,000 crore till FY2023 for meeting the growth requirements, part of which will come …
The Reserve Bank is planning to launch a full-fledged multi-media and multi-lingual campaign to create general awareness among citizens about the regulations and initiatives of the central bank. RBI’s department of communication has sought applications from advertising agencies for designing the creatives for pan-India public awareness campaign. “The campaign will be in 14 languages – Hindi, Assamese, Bangla, Gujarati, Kannada, …
Rising NPA in education loan propelling banks’ stress New Delhi : Amid the ongoing crisis caused by increasing Non-Performing Assets (NPAs) in the banking sector, default payment in education loans is adding on to this, the data released by the Indian Banks’ Association (IBA) revealed. In the educational loans segment, the default in repayment has risen to 7.67 percent of the …
Finance Minister Arun Jaitley will make a major announcement on Tuesday evening, possibly in connection with the recapitalisation plans for public sector banks, sources have told CNBC-TV18. At a press conference scheduled for 4pm, the minister is likely to decide the plan for increasing capital to the weak balance sheets of banks including United Bank of India, UCO bank, Corporation bank, Allahabad Bank, Indian Overseas Bank, …