OXIESEC PANEL

Name	Size	Modified	Perms
📁 ..	-	05/19/2025 10:07:13 AM	rwxr-xr-x
📄 00075c93132acf7a6e46e48d2291ce41.spc	5.69 KB	05/16/2025 04:32:22 AM	rw-r--r--
📄 0102169e52b6a27a410e7b237202fe84.spc	140.81 KB	05/16/2025 04:32:22 AM	rw-r--r--
📄 027d4dde1e82475da3d9afe4844afb1d.spc	2.63 KB	05/16/2025 04:32:22 AM	rw-r--r--
📄 03036edfece701eaa1537fea4014dd44.spc	56.35 KB	05/16/2025 04:32:22 AM	rw-r--r--
📄 0446f65691fba260d3eabbd1377240f8.spc	5.75 KB	05/16/2025 04:32:22 AM	rw-r--r--
📄 04d0c6cc2bf146b1318b78f84416b912.spc	124.45 KB	05/16/2025 04:32:22 AM	rw-r--r--
📄 0582678c8cfff117f770f9368b70c2b5.spc	19.33 KB	05/16/2025 04:32:22 AM	rw-r--r--
📄 0601d608f5e2ea8e198130b17fe6ef01.spc	157 bytes	05/16/2025 04:32:22 AM	rw-r--r--
📄 061ad7f2b0116c570fdc35c36824c7c6.spc	42.24 KB	05/16/2025 04:32:22 AM	rw-r--r--
📄 06e0c598a46c483b6b9d775e1ba1ecd4.spc	124.09 KB	05/16/2025 04:32:22 AM	rw-r--r--
📄 0802b12194f292de0e9d9617ac014785.spc	290.02 KB	05/16/2025 04:32:22 AM	rw-r--r--
📄 083aed319a0b5c8691e31d9150d8005e.spc	19.84 KB	05/16/2025 04:32:22 AM	rw-r--r--
📄 0a3bf48c84477cd58dbc2036a0331134.spc	70.63 KB	05/16/2025 04:32:22 AM	rw-r--r--
📄 0b5e5f226006af7e46d02ba8ce216a45.spc	54.71 KB	05/16/2025 04:32:22 AM	rw-r--r--
📄 0b73d04c6bba0acaf2f9a569f388313a.spc	33.59 KB	05/16/2025 04:32:22 AM	rw-r--r--
📄 0b8a46fca237497cfc90498f9eb909ab.spc	686.66 KB	05/16/2025 04:32:22 AM	rw-r--r--
📄 0ce2bdd7061489c6136e7614d421b874.spc	47.7 KB	05/16/2025 04:32:22 AM	rw-r--r--
📄 0de8a2204854bb5dd311607494c671e4.spc	828.58 KB	05/16/2025 04:32:23 AM	rw-r--r--
📄 0e15494dca4aeb24ea769582482c5162.spc	150.58 KB	05/16/2025 04:32:23 AM	rw-r--r--
📄 0eaec40cfb584fcb55fcdfb5d76684b9.spc	16.95 KB	05/16/2025 04:32:23 AM	rw-r--r--
📄 0ed254d4d9db6e3afe193b00bc6471bb.spc	89.85 KB	05/16/2025 04:32:23 AM	rw-r--r--
📄 0f079d9bb09fef940c38ee73b52b91d4.spc	34.42 KB	05/16/2025 04:32:23 AM	rw-r--r--
📄 0f5e21d9d8354d10ea23d99101259ba2.spc	42.06 KB	05/16/2025 04:32:23 AM	rw-r--r--
📄 0ffc1fa29a6bad7fb49e55940c374610.spc	75.61 KB	05/16/2025 04:32:23 AM	rw-r--r--
📄 1071b4a15b6c2fe6f7a96f194d0ba524.spc	196 bytes	05/16/2025 04:32:23 AM	rw-r--r--
📄 10ae571a6266a8e21b0fbb15f552a1cb.spc	13.15 KB	05/16/2025 04:32:23 AM	rw-r--r--
📄 118c129ff99a905e4e9325e388b841fe.spc	45.34 KB	05/16/2025 04:32:23 AM	rw-r--r--
📄 131a4ad07dda46888cbbc1cb4c710a91.spc	59.6 KB	05/16/2025 04:32:23 AM	rw-r--r--
📄 132dee0a955be7733cc009e546de18da.spc	100.76 KB	05/16/2025 04:32:23 AM	rw-r--r--
📄 142d8795402a4e8a520be8ebea6f54f3.spc	22.7 KB	05/16/2025 04:32:23 AM	rw-r--r--
📄 1469d584e9747d132077c9df3cda6c97.spc	121.15 KB	05/16/2025 04:32:23 AM	rw-r--r--
📄 1479626ef8ef423638ca62f43b3e0f8d.spc	95.45 KB	05/16/2025 04:32:23 AM	rw-r--r--
📄 16e016e3ca27d793aa9172c1913c3f23.spc	26.74 KB	05/16/2025 04:32:23 AM	rw-r--r--
📄 19f3a21c36072f501f634db8e658bc9f.spc	16.6 KB	05/16/2025 04:32:23 AM	rw-r--r--
📄 1b8954ae7aab6fd9784cbcc827133f80.spc	186 bytes	05/16/2025 04:32:23 AM	rw-r--r--
📄 1c0bbac8beea30e555f26fd02994e7a5.spc	19.96 KB	05/16/2025 04:32:23 AM	rw-r--r--
📄 1c1a63fc25720b7c22c9c28fa2aa9379.spc	236.54 KB	05/16/2025 04:32:23 AM	rw-r--r--
📄 1f1672e0ecc5e7a6d278c930015520ab.spc	166 bytes	05/16/2025 04:32:23 AM	rw-r--r--
📄 1f4cf3ae9ba91935f556711c1cfc34d4.spc	88.33 KB	05/16/2025 04:32:23 AM	rw-r--r--
📄 1f5e96e3f1a01f95ab611ec1458fe470.spc	169.16 KB	05/16/2025 04:32:23 AM	rw-r--r--
📄 20a75b688975a2d5d342eae9f4c33411.spc	1.22 MB	05/16/2025 04:32:24 AM	rw-r--r--
📄 225d97aca36305a8b407ea6d8d5b187e.spc	55.08 KB	05/16/2025 04:32:24 AM	rw-r--r--
📄 242d3dabf79d13154fcc384ff8b2d25e.spc	113.19 KB	05/16/2025 04:32:24 AM	rw-r--r--
📄 25512b0d18ae6e4d20d027abbc467365.spc	31.2 KB	05/16/2025 04:32:24 AM	rw-r--r--
📄 25948504a82cd8da1985fddd4500c1c7.spc	153.7 KB	05/16/2025 04:32:24 AM	rw-r--r--
📄 26e0c631724f3653c10c3123546ab5e2.spc	110.09 KB	05/16/2025 04:32:24 AM	rw-r--r--
📄 2704664dff0e40e19de087fe00892bc2.spc	24.51 KB	05/16/2025 04:32:24 AM	rw-r--r--
📄 274ae07ff50cfde2bda57a71703b62f4.spc	2.54 KB	05/16/2025 04:32:24 AM	rw-r--r--
📄 2799184659106c88b5072a3e3f763a4d.spc	2.54 KB	05/16/2025 04:32:24 AM	rw-r--r--
📄 2801f3bdd649962fa663f608c2383280.spc	154.53 KB	05/16/2025 04:32:24 AM	rw-r--r--
📄 28099e26c5c9a06acb85a41ccd789efc.spc	500.36 KB	05/16/2025 04:32:24 AM	rw-r--r--
📄 2aabe0323264e3f60916621039be0e76.spc	42.37 KB	05/16/2025 04:32:24 AM	rw-r--r--
📄 2abcd685295b4a261ad2e866188e5e11.spc	125.3 KB	05/16/2025 04:32:24 AM	rw-r--r--
📄 2aed529f6407470bef913050a1d118ef.spc	151 bytes	05/16/2025 04:32:24 AM	rw-r--r--
📄 2b2654a64e8b0f5d9cf497e0883b2042.spc	96.1 KB	05/16/2025 04:32:24 AM	rw-r--r--
📄 2dae1abba28ecd05f3e1e91f308cf8c4.spc	87.25 KB	05/16/2025 04:32:24 AM	rw-r--r--
📄 2db16a36af8daf383cb739dd57a44d90.spc	147.19 KB	05/16/2025 04:32:25 AM	rw-r--r--
📄 2de250597c053bd81359233c14c51db4.spc	286.38 KB	05/16/2025 04:32:25 AM	rw-r--r--
📄 2fb670ecdcda7db936aa7d2f018a79e4.spc	23.75 KB	05/16/2025 04:32:25 AM	rw-r--r--
📄 30d5af6cd4c10ea02520bcaba31f3d1c.spc	141.02 KB	05/16/2025 04:32:25 AM	rw-r--r--
📄 31591159e55bceb27be71ce43cd1517e.spc	443.64 KB	05/16/2025 04:32:25 AM	rw-r--r--
📄 31f817c15425941589a9819216265501.spc	68.33 KB	05/16/2025 04:32:25 AM	rw-r--r--
📄 34661b0e5b23f423b303c946172b39f8.spc	20.99 KB	05/16/2025 04:32:25 AM	rw-r--r--
📄 3567037b5acd1842946ba40397edead4.spc	84.5 KB	05/16/2025 04:32:25 AM	rw-r--r--
📄 37cf2adae9335c54f1dbc436922e6cfc.spc	181 bytes	05/16/2025 04:32:25 AM	rw-r--r--
📄 389ae768f4ecb350b56b92da3b04c1ac.spc	180.5 KB	05/16/2025 04:32:25 AM	rw-r--r--
📄 3bcfb7838de30c68c7acc437c16935cc.spc	142.35 KB	05/16/2025 04:32:25 AM	rw-r--r--
📄 3ca755a78dd04c91695e5fcee845991f.spc	42.02 KB	05/16/2025 04:32:25 AM	rw-r--r--
📄 3d135369c757ae57c3c873e6070d5ac6.spc	46.18 KB	05/16/2025 04:32:25 AM	rw-r--r--
📄 3e4e8d898fc42bca52bf888c3a33ef23.spc	614.85 KB	05/16/2025 04:32:25 AM	rw-r--r--
📄 3e804b49f84699d48348b3bee312090d.spc	25.24 KB	05/16/2025 04:32:25 AM	rw-r--r--
📄 3f92b590befbddc6f7237f2ff7a2ca21.spc	407.55 KB	05/16/2025 04:32:25 AM	rw-r--r--
📄 3f93802ae5a285cffaf04f22ceb596fb.spc	307.02 KB	05/16/2025 04:32:25 AM	rw-r--r--
📄 419e5468f73de12da7ac55b064ff6e04.spc	19.87 KB	05/16/2025 04:32:25 AM	rw-r--r--
📄 43cdef0c688f38c395285fd09bd1d8b6.spc	163 bytes	05/16/2025 04:32:25 AM	rw-r--r--
📄 445a8424173fb9de0f08493a09557c92.spc	39.14 KB	05/16/2025 04:32:26 AM	rw-r--r--
📄 447b88825763019604aca4e363415120.spc	3.18 KB	05/16/2025 04:32:26 AM	rw-r--r--
📄 44a6e222af7ac1e000190688f3824d27.spc	103.66 KB	05/16/2025 04:32:26 AM	rw-r--r--
📄 45ec354e05ea3a553e89c9f9d1ee7a6f.spc	67.86 KB	05/16/2025 04:32:26 AM	rw-r--r--
📄 48926180fcc9ab4ab897cfbc5279409e.spc	170 bytes	05/16/2025 04:32:26 AM	rw-r--r--
📄 4904c558085c30a9ca52969c7f875cf8.spc	155 bytes	05/16/2025 04:32:26 AM	rw-r--r--
📄 490fd4abfc32189cff5d5f38ddaaff5b.spc	22.31 KB	05/16/2025 04:32:26 AM	rw-r--r--
📄 491e4a0adc576f7c32fdb7ee38bb0997.spc	88.77 KB	05/16/2025 04:32:26 AM	rw-r--r--
📄 492e918dde587df3095914b1f67cd6ee.spc	31.56 KB	05/16/2025 04:32:26 AM	rw-r--r--
📄 4b6d0ec22ab2dc33cffefef17cf9a288.spc	87.42 KB	05/16/2025 04:32:26 AM	rw-r--r--
📄 4b6fa8105439c52ea4f2c1f18e0957e2.spc	181 bytes	05/16/2025 04:32:26 AM	rw-r--r--
📄 4c3facd12e8f40cab8114677f681ebaf.spc	134 bytes	05/16/2025 04:32:26 AM	rw-r--r--
📄 4ca537d8aa4727a23841361c475118e1.spc	42.22 KB	05/16/2025 04:32:26 AM	rw-r--r--
📄 4d1bb795413f82f68c666caa0c0c27bb.spc	148.14 KB	05/16/2025 04:32:26 AM	rw-r--r--
📄 4e8baeaef3679f9460ffdecddbb1f6a7.spc	35.08 KB	05/16/2025 04:32:26 AM	rw-r--r--
📄 5064bfc366d30fb3250bafeacadc83db.spc	22.11 KB	05/16/2025 04:32:26 AM	rw-r--r--
📄 50ba71d2f35fb5e96b224d907d33d263.spc	720.35 KB	05/16/2025 04:32:26 AM	rw-r--r--
📄 51447ae67b6d856982df0ea0496cf24b.spc	18.89 KB	05/16/2025 04:32:26 AM	rw-r--r--
📄 522fe4b133aa24cb42c79b24ecb5c838.spc	134.37 KB	05/16/2025 04:32:26 AM	rw-r--r--
📄 5432740bf8126b80fd18515165c5cf20.spc	22.07 KB	05/16/2025 04:32:26 AM	rw-r--r--
📄 55fad6ae8bfedfb81fafc8bd5112a79f.spc	31.16 KB	05/16/2025 04:32:26 AM	rw-r--r--
📄 577d0589862161e3aaa25ed8758b2765.spc	29.23 KB	05/16/2025 04:32:26 AM	rw-r--r--
📄 57e4b3f5cadf2d33fa630cb96499349a.spc	154 bytes	05/16/2025 04:32:26 AM	rw-r--r--
📄 588359e68ff59d4ef53aaf3edb6a44cf.spc	6.77 KB	05/16/2025 04:32:26 AM	rw-r--r--
📄 5a06bba505584742f9e590f2f81e0ff3.spc	128 bytes	05/16/2025 04:32:26 AM	rw-r--r--
📄 5c6d487a1fbb288f7f0f73b55f6b2df1.spc	41.86 KB	05/16/2025 04:32:26 AM	rw-r--r--
📄 5c744a4198beb7326dcf101f961486b4.spc	56.94 KB	05/16/2025 04:32:26 AM	rw-r--r--
📄 5ef8b2cef4776b3e3f9f79092ce932ca.spc	124.66 KB	05/16/2025 04:32:27 AM	rw-r--r--
📄 5fc9bcdda34ec7e72510b177a0164b7b.spc	602.71 KB	05/16/2025 04:32:27 AM	rw-r--r--
📄 60bc545cda9dafe75484b88be1dd4ae9.spc	67.49 KB	05/16/2025 04:32:27 AM	rw-r--r--
📄 60fe2edd86b212feb0f71552066ef55d.spc	186.19 KB	05/16/2025 04:32:27 AM	rw-r--r--
📄 6270f865db79068a5dedb78ba877e7a0.spc	100.02 KB	05/16/2025 04:32:27 AM	rw-r--r--
📄 6370a4a7eb9be29e32a96811bc0dd7b6.spc	19.59 KB	05/16/2025 04:32:27 AM	rw-r--r--
📄 63f55618eba7b0585577fb08ea8818dc.spc	41.42 KB	05/16/2025 04:32:27 AM	rw-r--r--
📄 651d4f6bf953adef7c5b8f05f01e1151.spc	32.47 KB	05/16/2025 04:32:27 AM	rw-r--r--
📄 66267a4d6dba7887fc7d4a1aa2da9b75.spc	123.73 KB	05/16/2025 04:32:27 AM	rw-r--r--
📄 663e01e065755a523f15f61782ef2fd0.spc	28.3 KB	05/16/2025 04:32:27 AM	rw-r--r--
📄 66506bf5272cefcb56085b4b77463bd8.spc	280.88 KB	05/16/2025 04:32:27 AM	rw-r--r--
📄 669fa07a0da20a5d0da35d972d5fcac5.spc	99.77 KB	05/16/2025 04:32:27 AM	rw-r--r--
📄 679d4423c6016aeb24557d767a509bbb.spc	46.29 KB	05/16/2025 04:32:27 AM	rw-r--r--
📄 69185497e5f13fd4744a2c39d76fb812.spc	32.55 KB	05/16/2025 04:32:27 AM	rw-r--r--
📄 69b3abe3aa88d144d3591d56873de72b.spc	150 bytes	05/16/2025 04:32:27 AM	rw-r--r--
📄 6a0ab3ec7216c8caa50e266f3ff16993.spc	22.35 KB	05/16/2025 04:32:27 AM	rw-r--r--
📄 6c7544e2246a222bbde6ad7d0406c8db.spc	200.49 KB	05/16/2025 04:32:27 AM	rw-r--r--
📄 6c7c31384f1626a700bc8fbd2f584add.spc	57.94 KB	05/16/2025 04:32:27 AM	rw-r--r--
📄 6cf9d92f08956fa74016014a99dc793e.spc	28.51 KB	05/16/2025 04:32:27 AM	rw-r--r--
📄 6ee565104f90a8212dd7e14133d6e4ae.spc	193 bytes	05/16/2025 04:32:27 AM	rw-r--r--
📄 6eede30400457c4277e91f133b7a27a6.spc	60.73 KB	05/16/2025 04:32:27 AM	rw-r--r--
📄 71f0008f42879a3e550851568b3494d0.spc	1.8 MB	05/16/2025 04:32:28 AM	rw-r--r--
📄 72ff111641b87f5d234c3ded91959234.spc	136.69 KB	05/16/2025 04:32:28 AM	rw-r--r--
📄 7400954e05f62bf45dcf5c1087223df4.spc	2.63 KB	05/16/2025 04:32:28 AM	rw-r--r--
📄 7463e454c4ab831179d37c4e86643dc2.spc	266.75 KB	05/16/2025 04:32:28 AM	rw-r--r--
📄 74a014a9f44690e4a045b1753c1ef5c9.spc	159 bytes	05/16/2025 04:32:28 AM	rw-r--r--
📄 76c5af11f8b8bd34c58097da8689d2a2.spc	185.34 KB	05/16/2025 04:32:28 AM	rw-r--r--
📄 76e6555adc909bfac627ceaba91df128.spc	167.17 KB	05/16/2025 04:32:28 AM	rw-r--r--
📄 7ab2d04babf16e9d06f787e38f186748.spc	89.36 KB	05/16/2025 04:32:28 AM	rw-r--r--
📄 7b9723cc6339397505e29dbe8497b10a.spc	150 bytes	05/16/2025 04:32:28 AM	rw-r--r--
📄 7beeb799568e0584e407e788f7ec973d.spc	56.61 KB	05/16/2025 04:32:28 AM	rw-r--r--
📄 7c6fcaa553a1353d8fcc5535064f4008.spc	50.63 KB	05/16/2025 04:32:28 AM	rw-r--r--
📄 7d1ab5c52f2c3ab33c409e73bedecc5e.spc	3.92 KB	05/16/2025 04:32:28 AM	rw-r--r--
📄 7dc75885832733a5ea185d98887b82df.spc	33.47 KB	05/16/2025 04:32:28 AM	rw-r--r--
📄 7e7185a8ee7828937f2a05f0aa956f10.spc	162 bytes	05/16/2025 04:32:28 AM	rw-r--r--
📄 80d5eace46cca553f0c7e7a631ed6703.spc	123.39 KB	05/16/2025 04:32:28 AM	rw-r--r--
📄 828f89042b67ae6fca8657110997c302.spc	3.94 KB	05/16/2025 04:32:28 AM	rw-r--r--
📄 8341235cab83dcb126f0ad2b5812b63d.spc	88.67 KB	05/16/2025 04:32:28 AM	rw-r--r--
📄 8353d08af859970965abdbc71f5bf9a3.spc	37.15 KB	05/16/2025 04:32:28 AM	rw-r--r--
📄 83efe9d0463ea50fa82517c4a92ed589.spc	158 bytes	05/16/2025 04:32:28 AM	rw-r--r--
📄 8409cc881139fa5d466af5d757f19609.spc	48.09 KB	05/16/2025 04:32:28 AM	rw-r--r--
📄 84ed1e5a5cc7fb7930a3132f1dd7ae0a.spc	112.98 KB	05/16/2025 04:32:28 AM	rw-r--r--
📄 850a6a7f962502618892db457e231fe7.spc	131.61 KB	05/16/2025 04:32:29 AM	rw-r--r--
📄 852c8f9b4effcea04904f4e1e55da3f4.spc	459.08 KB	05/16/2025 04:32:29 AM	rw-r--r--
📄 874091b93fb13db66a5fdbe72fbb8d6b.spc	1.59 KB	05/16/2025 04:32:29 AM	rw-r--r--
📄 8b768f4e406ced9a4cba62897a7bc651.spc	97.91 KB	05/16/2025 04:32:29 AM	rw-r--r--
📄 8bbfe139e67e5f738b9ffcb18a7c5b86.spc	47.7 KB	05/16/2025 04:32:29 AM	rw-r--r--
📄 8d0823d0a4bd13241dc275b14e801667.spc	183.86 KB	05/16/2025 04:32:29 AM	rw-r--r--
📄 8d3db038a087fbdc54054a9282afa2c6.spc	164 bytes	05/16/2025 04:32:29 AM	rw-r--r--
📄 8d64115de2ca5294e771c8614663c953.spc	162 bytes	05/16/2025 04:32:29 AM	rw-r--r--
📄 8e24588eb23460ceefe5195686c2a6db.spc	101.38 KB	05/16/2025 04:32:29 AM	rw-r--r--
📄 906b5d59de170e528244744b925a8af5.spc	97.16 KB	05/16/2025 04:32:29 AM	rw-r--r--
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Demand for credit will lead to excess liquidity being deployed as loans in the normal course and there may be no further hikes in the cash reserve ratio (CRR), State Bank of India (SBI) chairman Dinesh Kumar Khara told Shritama Bose. The country’s largest lender will take its Yono app to customers of all banks, with payments and analytics playing a major role in the process, he added. Edited excerpts:

How do you see interest rates panning out at this stage in the cycle?

It has a direct correlation with the inflation numbers which are coming in, and also the policy announcements by the Reserve Bank of India. The inflation number has come down from 7.79% to 7.04%. That is essentially a reflection of the fiscal and the monetary policy put together. The steps taken by the government in terms of reducing the taxes on petrol and diesel and import duties on edible oil have played a role in reducing the inflation number. As the situation stands, if inflation gets tamed and comes within 6%, I expect this interest rate cycle to see a different trajectory altogether.

Term deposit rates have risen, but could we see savings rates rising?

Deposit rates started sometime back, but essentially from the ALM point of view. Of late, the trend we are observing is that the loan book is growing faster for the system as a whole, as compared to the deposit book. Also, since inflation is on the higher side, to the extent possible, we are passing on the benefit to the depositors. On savings rates, we’ll have to take a call at the appropriate time. As of now, since the ALM suggests that we raise rates in certain brackets, we have done that. I don’t think savings rates are going to see any change.

Is the industry concerned about the pace of liquidity normalisation?

The CRR hike of 50 bps resulted in sucking out of liquidity to the tune of Rs 87,000 crore. At one point in time, the system had excess liquidity of almost Rs 5.35 trillion, from where it has come down to about Rs 3.3-3.4 trillion. For a system of this size, excess liquidity to the tune of Rs 1.5 trillion is a very well-received number. I don’t expect any further CRR hikes because the way loan growth has started happening, the excess liquidity in the system will get deployed in the loan growth.

How do you see corporate loan growth for the rest of the year?

Loan growth is directly linked to capacity utilisation, which has already moved to 74.5%. With the improved capacity utilisation, working capital limits are set to see better utilisation. What we normally see is that as and when capacity utilisation inches towards 85%, investments pick up. In some sectors, we have seen capacity being built up and fresh investment proposals being entertained. Government initiatives like the National Monetisation Pipeline, National Infrastructure Pipeline, Gati Shakti and PLI are facilitative for fresh investments, and we expect to see traction under these programmes during the current year. We have seen growth in airports, ports, iron and steel and renewable energy.

Are private banks also participating? What about pricing?

Some of them are showing interest. We normally try to underwrite and then downsell, depending upon the appetite of other banks. On pricing, at one point of time, there were issues. But as the excess liquidity dries up, even pricing power will come back to banks. It has improved marginally so far.

Will higher rates affect demand or repayment capability for retail or MSME customers?

In retail, we go by the EMI-to-NMI (net monthly income) ratio. With inflation going up, monthly incomes have also gone up. We are seeing pre-Covid-level salary increases in the corporate sector. Even if the EMI goes up, it will not go up as much. In terms of the leverage on individuals’ balance sheets, there is still ample scope for it to rise. As incomes and aspirations go up, the retail engine should continue to do well. On MSMEs, of course, there could be some pressure. But, if they have the ability to pass on the interest rate increases, then perhaps they will not face stress. So far, we have seen no major issues.

How are you prepping Yono for an era of digital banks?

Yono is already a digital bank within the bank. So far it was for our existing-to-bank customers. We are trying to rope in new-to-bank customers as well, initially through the payment mechanism. Thereafter, we can offer them our large range of services. Yono 1.0 has seen good traction. We have started leveraging the analytics lever and with it, we are customising our offerings. All that will be rolled out with Yono 2.0 which is meant for every Indian. We have already hired a DMD for digital technology from the market and he is helping us with this.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-396.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:145:"As the situation stands, if inflation gets tamed and comes within 6%, I expect this interest rate cycle to see a different trajectory altogether.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-396-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:1;a:6:{s:4:"data";s:23:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:87:"Microfinance gross loan portfolio grows 10% to Rs 2,85,441 crore as of March 2022: MFIN";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:150:"https://www.financialexpress.com/industry/banking-finance/microfinance-gross-loan-portfolio-grows-10-to-rs-285441-crore-as-of-march-2022-mfin/2562110/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Wed, 15 Jun 2022 21:00:42 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:4:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:12:"microfinance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:3;a:5:{s:4:"data";s:4:"NBFC";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:150:"https://www.financialexpress.com/industry/banking-finance/microfinance-gross-loan-portfolio-grows-10-to-rs-285441-crore-as-of-march-2022-mfin/2562110/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:257:"MFIN is an industry association of 58 NBFC-MFIs and 39 associates, including banks, Small Finance Banks (SFBs) and Non-Banking Financial Companies (NBFCs). On Wednesday, it released the Micrometer report for January to March 2022 i.e., Q4 FY2021-22 quarter.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:15:"Hemant Abhishek";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-15T21:01:29+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:1787:"
The microfinance industry&#8217;s Gross Loan Portfolio (GLP) grew by 10.04 per cent to Rs 2,85,441 crore as of March 2022, according to a report by Microfinance Institutions Network (MFIN). The industry&#8217;s GLP stood at Rs 2,59,377 crore in March 2021.

MFIN is an industry association of 58 NBFC-MFIs and 39 associates, including banks, Small Finance Banks (SFBs) and Non-Banking Financial Companies (NBFCs). On Wednesday, it released the Micrometer report for January to March 2022 i.e., Q4 FY2021-22 quarter.

The report said 12 banks hold the largest share of portfolio in micro-credit with total loan outstanding of Rs 1,14,051 crore, which is 40 per cent of total micro-credit universe.

NBFC-MFIs are the second largest provider of micro-credit with a loan amount outstanding of Rs 1,00,407 crore, accounting for 35.2 per cent of total industry portfolio.

SFBs have a total loan amount outstanding of Rs 48,314 crore with total share of 16.9 per cent. NBFCs account for another 6.9 per cent and other MFIs account for 1 per cent, the report said.

The microfinance active loan accounts increased by 4.4 per cent during the past 12 months to 11.3 crore as on March 31, 2022, it said.

GLP of NBFC-MFIs stood at Rs 96,561 crore as on March 2022, a 19.4 per cent year-on-year (YoY) rise as compared to Rs 80,906 crore a year ago.

The GLP includes an owned portfolio of Rs 82,458 crore and a managed portfolio of Rs 14,104 crore, it added.

NBFC-MFIs received a total of Rs 47,931 crore in debt funding during FY21-22, which is an 18.1 per cent increase from the preceding financial year.

Total equity of the NBFC-MFIs grew by 15.2 per cent YoY to Rs 21,419 crore as on March 31, 2022, it said.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:72:"https://www.financialexpress.com/wp-content/uploads/2022/06/money-10.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:191:"SFBs have a total loan amount outstanding of Rs 48,314 crore with total share of 16.9 per cent. NBFCs account for another 6.9 per cent and other MFIs account for 1 per cent, the report said.
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Fitch Ratings on Wednesday revised the rating outlook to stable from negative for nine India-based banks, including SBI, ICICI Bank and Axis Bank. The other lenders are Bank of Baroda (BOB), Bank of Baroda (New Zealand) Ltd, Bank of India, Canara Bank, Punjab National Bank (PNB) and Union Bank of India.

&#8220;Fitch Ratings has revised the Outlook to Stable from Negative on the Long-Term Issuer Default Ratings (IDR) of 9 India-based banks, while affirming their IDRs,&#8221; Fitch said in a statement.

The IDRs are based on Fitch&#8217;s assessment of high to moderate probability of extraordinary state support for these banks, which takes into account its assessment of the sovereign&#8217;s ability and propensity to provide extraordinary support.

It factors in the government&#8217;s consistent record of supporting systemically important banks, the lenders&#8217; relative systemic importance and their different ownership, Fitch said.

Separately, Fitch also revised the outlook on Export-Import Bank of India&#8217;s (EXIM) Long-Term IDR to stable from negative.

These rating actions follow Fitch&#8217;s revision of the outlook on the &#8216;BBB-&#8216; rating on India to stable from negative last week due to diminished downside risks to the country&#8217;s medium-term growth, which is underscored by its rapid economic recovery and easing financial sector weaknesses.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-394.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:189:""Fitch Ratings has revised the Outlook to Stable from Negative on the Long-Term Issuer Default Ratings (IDR) of 9 India-based banks, while affirming their IDRs," Fitch said in a statement.
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 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:70:"RBI flags lack of due diligence in bank funding to govt-owned entities";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:137:"https://www.financialexpress.com/industry/banking-finance/rbi-flags-lack-of-due-diligence-in-bank-funding-to-govt-owned-entities/2560760/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Wed, 15 Jun 2022 05:45:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:4:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:14:"banking sector";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:3;a:5:{s:4:"data";s:3:"RBI";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:137:"https://www.financialexpress.com/industry/banking-finance/rbi-flags-lack-of-due-diligence-in-bank-funding-to-govt-owned-entities/2560760/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:372:"We have come across instances where banks have not been strictly complying with our extant instructions on assessment of commercial viability, ascertainment of revenue streams for debt servicing obligations and monitoring of end use of funds in respect of their financing of infrastructure/ housing projects of government-owned entities,” the RBI said in a notification.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Anish Mondal";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-15T05:45:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:1638:"
The Reserve Bank of India (RBI) on Tuesday flagged instances of poor due diligence by banks while funding government-owned entities. As a corrective measure, the regulator has asked banks to compile comprehensive reports on the status of compliance with a set of instructions on the criteria for financing within three months.

We have come across instances where banks have not been strictly complying with our extant instructions on assessment of commercial viability, ascertainment of revenue streams for debt servicing obligations and monitoring of end use of funds in respect of their financing of infrastructure/ housing projects of government-owned entities,” the RBI said in a notification.

Banks and financial institutions have also been found to have violated the central bank&#8217;s instructions which require that in case of projects undertaken by government-owned entities, term loans should be sanctioned only for corporate bodies, due diligence should be carried out on viability and bankability of projects to ensure that revenue stream from the project is sufficient to take care of the debt servicing obligations, and that the repayment or servicing of debt is not from budgetary resources.

Laying down a set of specific instructions in an annex accompanying Tuesday&#8217;s circular, the RBI reiterated that banks must follow them in letter and spirit.

Banks are advised to carry out a review and place before their boards a comprehensive report on the status of compliance with the instructions within three months from the date of this circular,” the notification said.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-380.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:156:"Laying down a set of specific instructions in an annex accompanying Tuesday's circular, the RBI reiterated that banks must follow them in letter and spirit.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-380-300x166.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"166";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:4;a:6:{s:4:"data";s:23:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:59:"Govt appoints 4 non-official directors on RBI central board";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:126:"https://www.financialexpress.com/industry/banking-finance/govt-appoints-4-non-official-directors-on-rbi-central-board/2560739/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Wed, 15 Jun 2022 05:30:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:4:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:14:"banking sector";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:3;a:5:{s:4:"data";s:3:"RBI";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:126:"https://www.financialexpress.com/industry/banking-finance/govt-appoints-4-non-official-directors-on-rbi-central-board/2560739/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:344:"Anand Mahindra is chairman of the Mahindra Group, non-executive chairman of Mahindra &#038; Mahindra and Tech Mahindra. Venu Srinivasan is chairman emeritus of two-wheeler maker TVS Motor Company. Pankaj Patel is chairman and managing director of Zydus Lifesciences while Ravindra Dholakia is the former member of the Monetary Policy Committee.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Anish Mondal";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-15T05:30:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:1399:"
The government on Tuesday appointed Anand Mahindra, Venu Srinivasan, Pankaj Ramanbhai Patel and Ravindra Dholakia as part-time non-official directors on the central board of Reserve Bank of India (RBI). The appointment will remain valid for four years with effect from June 14, the central bank said in a press release.

Anand Mahindra is chairman of the Mahindra Group, non-executive chairman of Mahindra &amp; Mahindra and Tech Mahindra. Venu Srinivasan is chairman emeritus of two-wheeler maker TVS Motor Company. Pankaj Patel is chairman and managing director of Zydus Lifesciences while Ravindra Dholakia is the former member of the Monetary Policy Committee.

With the appointments, the RBI’s central board now consists of five official members and 10 non-official members. RBI governor Shaktikanta Das and deputy governors Mahesh Kumar Jain, MD Patra, M Rajeshwar Rao and T Rabi Sankar are the official directors.

Revathy Iyer, Sachin Chaturvedi, Satish Kashinath Marathe, Swaminathan Gurumurthy, Ajay Seth and Sanjay Malhotra are non-official directors of the central bank.

The central board of the RBI comprises official directors, which include the governor and four deputy governors. The government appoints 10 non-official directors, two directors are government officials while four directors are appointed from each of the four local boards.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-379.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:160:"Revathy Iyer, Sachin Chaturvedi, Satish Kashinath Marathe, Swaminathan Gurumurthy, Ajay Seth and Sanjay Malhotra are non-official directors of the central bank.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-379-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:5;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:44:"New entity with wider mandate to replace BBB";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:111:"https://www.financialexpress.com/industry/banking-finance/new-entity-with-wider-mandate-to-replace-bbb/2560787/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Wed, 15 Jun 2022 04:10:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:14:"banking sector";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:111:"https://www.financialexpress.com/industry/banking-finance/new-entity-with-wider-mandate-to-replace-bbb/2560787/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:319:"The move followed a directive late last year by the Delhi High Court, which held that the BBB cannot select the general managers and directors of state-run general insurers, as it was not a competent body. Subsequently, at least half a dozen newly-appointed directors of non-life insurers had to vacate their positions.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Anish Mondal";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-15T04:10:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:3284:"
The government is planning to introduce a new entity in place of the Banks Board Bureau (BBB), with a wider and more legally tenable mandate, to recommend candidates for appointments to senior management-level posts in state-run banks, insurance companies and other financial institutions, sources told FE. “The work is going on at a fast pace. But it’s taking a bit of time. The government is seized of the matter and a decision will be made soon,” an official source said. As FE had reported last month, the extended term of the BBB members ended on April 10 and the government was contemplating a revamped mechanism in its place.

Another source said the new entity will consist of some of the current BBB members as well, given their experience in handling such appointments. “Appointments to such posts that are lying vacant or going to be vacant will be cleared once the new entity comes into force. The government will continue to maintain an arm’s length distance on matters of such appointments,” he added.

The move followed a directive late last year by the Delhi High Court, which held that the BBB cannot select the general managers and directors of state-run general insurers, as it was not a competent body. Subsequently, at least half a dozen newly-appointed directors of non-life insurers had to vacate their positions.

This ruling came on a case filed by National Insurance Company general manager Ravi, who had complained that people junior to him were selected by the BBB for the position of directors in public-sector general insurers twice. The court also set aside relevant circulars that enabled the BBB to make such selections. This prompted the government to replace the BBB, which was set up to recommend names of top executives of state-run banks and financial institutions, with a new entity that would not just do the same job but also have a wider mandate.

Before the BBB took over appointments relating to PSU insurance, the government used to notify them after shortlisting eligible candidates. One of the sources said work at general insurers hasn’t quite suffered, as there is not much difference between the functioning of the general manager (GM) and a GM who is a director.

As for the BBB, it’s now practically non-functional. In April 2020, the Appointments Committee of the Cabinet (ACC) had approved the extension of the term of the BBB’s part-time chairman BP Sharma and other members for a period of two years, which has now ended. Other part-time members were Vedika Bhandarkar, former managing director (MD) of Credit Suisse; Panja Pradeep Kumar, former MD of SBI; and Pradip P Shah, founder MD of rating agency Crisil.

Sharma had been heading the BBB since 2018 after the tenure of its first chairman and former controller and auditor general of India Vinod Rai got over. The government set up the BBB in 2016 with an aim to “search and select apposite personages” for the boards of public-sector banks, financial institutions and insurance companies and “recommend measures to improve corporate governance in these institutions. It was also tasked with engaging with the directors of PSBs to prepare strategies for their growth and development.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-383.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:316:"This ruling came on a case filed by National Insurance Company general manager Ravi, who had complained that people junior to him were selected by the BBB for the position of directors in public-sector general insurers twice. The court also set aside relevant circulars that enabled the BBB to make such selections.
";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-383-300x166.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"166";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:6;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:51:"NBFC borrowing costs seen rising 85-105 bps: Crisil";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:117:"https://www.financialexpress.com/industry/banking-finance/nbfc-borrowing-costs-seen-rising-85-105-bps-crisil/2560671/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Wed, 15 Jun 2022 03:00:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:4:"NBFC";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:117:"https://www.financialexpress.com/industry/banking-finance/nbfc-borrowing-costs-seen-rising-85-105-bps-crisil/2560671/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:216:"NBFCs are likely to face borrowing cost of 7.2%-7.4% in FY23, compared to 6.4% last year. However, the borrowing cost will be around 50 basis points lower compared to the pre-Covid level, an analysis by Crisil shows.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Anish Mondal";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-15T03:00:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:2777:"
With the Reserve Bank of India (RBI) raising policy rates two times in just over a month, borrowing costs for non-banking financial companies (NBFCs) are seen rising by 85-105 basis points in the current financial year, Crisil Ratings said in a report.

While NBFCs should be able to pass on higher rates to home loan borrowers since lending rates are typically floating in nature, they will be unable to pass on entire borrowing costs due to competition from banks, Crisil said. Other segments such as vehicle finance and MSME financing typically have fixed-rate loans, so only new loans would be charged at higher interest rates.

NBFCs are likely to face borrowing cost of 7.2%-7.4% in FY23, compared to 6.4% last year. However, the borrowing cost will be around 50 basis points lower compared to the pre-Covid level, an analysis by Crisil shows.

The impact of the rising borrowing cost will vary depending on the mix of fixed and floating rate borrowings of NBFCs. Of the total debt maturing in FY23, 42% is based on floating rates such as treasury bills, marginal cost of funds-based lending rate and repo-linked rates. NBFCs have a higher share of MCLR-linked loans compared to housing finance companies (HFC), the agency said.

The transmission of rate changes now takes place at a faster rate as floating loans are externally benchmarked to the repo from October 2019.

A total of Rs 15 trillion in debt is due for repricing in FY23 due to interest reset or maturity. An additional debt amount of Rs 3 lakh crore is likely to be raised by NBFCs to support the expected growth in lending.

gOur study shows increases or decreases in MCLR over the past five fiscals have not kept pace with changes in the repo rate. At the same time, interest rates on repo-linked bank facilities do reflect such changes very quickly. Extrapolating that, and after baking in the total 165-bps hike likely in the repo rate this fiscal, we see the overall cost of borrowings for NBFCs rising 85-105 bps,” Krishnan Sitaraman, deputy chief ratings officer, Crisil Ratings said.

Despite rising borrowing costs, the overall profitability of NBFCs is expected to remain steady, aided by a fall in credit costs, as NBFCs have made additional provisioning buffers in the Covid period, the report said.

gLast fiscal, many NBFCs had released their provisioning buffers partially, which had reduced their credit costs. There is still a reasonable amount of cushion available ― 0.5% to 2% of assets ― as contingency provisioning. That means incremental provisioning would be lower. Consequently, profitability is likely to be nearly stable this fiscal compared with last,” Ajit Velonie, director, Crisil Ratings, said.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-366.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:151:"Other segments such as vehicle finance and MSME financing typically have fixed-rate loans, so only new loans would be charged at higher interest rates.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-366-300x166.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"166";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:7;a:6:{s:4:"data";s:20:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:71:"IDBI Bank raises interest rates on retail term deposits by up to 25 bps";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:138:"https://www.financialexpress.com/industry/banking-finance/idbi-bank-raises-interest-rates-on-retail-term-deposits-by-up-to-25-bps/2560767/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Tue, 14 Jun 2022 21:23:25 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:1:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:138:"https://www.financialexpress.com/industry/banking-finance/idbi-bank-raises-interest-rates-on-retail-term-deposits-by-up-to-25-bps/2560767/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:180:"The revised rates would be applicable across various tenors for domestic term deposits, non-resident ordinary (NRO) and non-resident external (NRE) term deposits, effective June 15";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:14:"Surabhi Pandey";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-14T21:23:31+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:1766:"
IDBI Bank on Tuesday said it has raised interest rates by up to 25 basis points (bps) on retail term deposits of less than Rs 2 crore. The revised rates would be applicable across various tenors for domestic term deposits, non-resident ordinary (NRO) and non-resident external (NRE) term deposits, effective June 15, a release said.

The lender has increased the interest rate by 25 basis points to 4 per cent from 3.75 per cent on retail term deposits maturing between 91 days and six months. For fixed deposits maturing in 3 years to less than 5 years, the rate has been hiked by 10 bps to 5.60 per cent, compared to 5.50 per cent earlier.

Retail term deposits with a maturity of more than 5 years and up to 7 years will now fetch an interest rate of 5.75 per cent against 5.60 per cent. The interest rate on fixed deposits maturing above 7 years and up to 10 years has been revised to 5.75 per cent from 5.50 per cent.

The country&#8217;s largest lender State Bank of India (SBI) has raised interest rates by 0.20 per cent on domestic term deposits of below Rs 2 crore for select tenors. The revised interest rates on retail domestic term deposits (below Rs 2 crore) come into effect from June 14, 2022, State Bank of India (SBI) informed on its website.

For deposits of 211 days to less than 1 year, the lender will offer an interest rate of 4.60 per cent against 4.40 per cent earlier. Senior citizens will be offered an interest of 5.10 per cent compared to 4.90 per cent earlier.

Likewise, for domestic term deposits of 1 year to less than 2 years, customers can earn interest of 5.30 per cent, up by 0.20 per cent. For senior citizens, the interest rate will be higher by a similar margin at 5.80 per cent.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:84:"https://www.financialexpress.com/wp-content/uploads/2022/06/IDBI-Bank-file-photo.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:146:"Retail term deposits with a maturity of more than 5 years and up to 7 years will now fetch an interest rate of 5.75 per cent against 5.60 per cent";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:92:"https://www.financialexpress.com/wp-content/uploads/2022/06/IDBI-Bank-file-photo-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:8;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:68:"NBFCs to see Rs 18 lakh crore loans getting repriced in FY23: Crisil";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:134:"https://www.financialexpress.com/industry/banking-finance/nbfcs-to-see-rs-18-lakh-crore-loans-getting-repriced-in-fy23-crisil/2560461/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Tue, 14 Jun 2022 17:56:18 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:4:"NBFC";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:134:"https://www.financialexpress.com/industry/banking-finance/nbfcs-to-see-rs-18-lakh-crore-loans-getting-repriced-in-fy23-crisil/2560461/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:318:""Our study shows increases or decreases in MCLR over the past five fiscals have not kept pace with the changes in the repo rate. At the same time, interest rates on repo-linked bank facilities do reflect such changes very quickly," the agency's senior director and deputy chief ratings officer Krishnan Sitaraman said.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Anish Mondal";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-14T17:56:24+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:4091:"
Non-banking financial companies are likely to witness close to Rs 18 lakh crore of their outstanding debt getting repriced at higher levels in FY23 amid the rising interest rate scenario, Crisil Ratings said in a report on Tuesday.

The agency expects borrowing cost of NBFCs (Non-Banking Financial Companies) to go up by 85-105 basis points (bps) in this fiscal owing to recent hikes in repo rate by 90 basis points in two tranches and an expected rise of another 75 bps in the remaining fiscal.

The agency said an analysis of its rated NBFCs shows, &#8220;Rs 15 lakh crore of debt, or around 65 per cent of outstanding debt as on March 31, 2022, is due for repricing this fiscal owing to interest reset or maturity. Another Rs 3 lakh crore of incremental debt is likely to be raised to support expected growth in lending.&#8221; Banks remain a major funding resource for NBFCs. The share of banks in NBFCs&#8217; total borrowings has increased to 34 per cent in March 2022 from 27 per cent in March 2018.

The agency said the impact of rate hikes will vary based on the mix of fixed and floating rate borrowings in NBFC portfolios. Earlier, transmission of such rate changes made by the RBI used to happen with a lag. However, with banks&#8217; floating loans now benchmarked to external gauges such as the repo since October 2019, the pass-through is relatively quicker compared with loans linked to the Marginal Cost of funds-based Lending Rate (MCLR).

&#8220;Our study shows increases or decreases in MCLR over the past five fiscals have not kept pace with the changes in the repo rate. At the same time, interest rates on repo-linked bank facilities do reflect such changes very quickly,&#8221; the agency&#8217;s senior director and deputy chief ratings officer Krishnan Sitaraman said.

In home loans, constituting 35-40 per cent of Assets Under Management (AUM), NBFCs should be able to pass on the higher rates to both existing and new clients since lending rates here are primarily floating in nature, the report said.

But this rise won&#8217;t be to the same extent as the increase in borrowing costs, amid intensifying competition from banks, it said. Other segments such as vehicle finance, and Micro, Small and Medium Enterprises (MSME) financing, comprise fixed rate loans majorly. So only incremental loans would be charged at higher interest rates.

Gross spreads (lending rate less borrowing cost) of NBFCs will compress 40-60 bps this fiscal. This squeeze will be offset by the substantial provisioning buffers built over the past two fiscals, which had cranked up their credit costs, the agency said.

Its director Ajit Velonie said last fiscal, many NBFCs had released their provisioning buffers partially, which had reduced their credit costs. &#8220;There is still a reasonable amount of cushion available — 0.5 per cent to 2 per cent of assets — as contingency provisioning. That means incremental provisioning would be lower. Consequently, profitability is likely to be nearly stable this fiscal compared with last,&#8221; he said.

Besides substantial provisioning, the credit profiles of most NBFCs in the current fiscal will be supported by adequate liquidity and improved capitalisation, the rating agency said.

Talking about the restructured book of NBFCs, Sitaraman said although payments and collection from this segment has started, collection efficiency is still lower than the normal loan book.

&#8220;We do expect a higher level of slippages to NPAs from the restructured book as compared to the normal book. This is something which NBFCs will have to closely monitor,&#8221; he said.

The extent of slippages would be higher in the unsecured and MSME loans, whereas it would be lower in the housing and gold loan segment, he noted. Sitaraman expects slippages on the housing and gold loans to be in the single digit &#8212; 5-10 per cent range&#8211; and that in the unsecured and MSME segments to be higher, Sitaraman added.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-348.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:234:"In home loans, constituting 35-40 per cent of Assets Under Management (AUM), NBFCs should be able to pass on the higher rates to both existing and new clients since lending rates here are primarily floating in nature, the report said.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-348-300x166.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"166";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:9;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:96:"Explainer: All about RBI’s On tap Licensing Policy for Universal Banks and Small Finance Banks";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:159:"https://www.financialexpress.com/industry/banking-finance/explainer-all-about-rbis-on-tap-licensing-policy-for-universal-banks-and-small-finance-banks/2560027/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Tue, 14 Jun 2022 14:01:49 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:14:"banking sector";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:3:"RBI";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:159:"https://www.financialexpress.com/industry/banking-finance/explainer-all-about-rbis-on-tap-licensing-policy-for-universal-banks-and-small-finance-banks/2560027/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:277:"licenses. RBI turned down all the applications for Universal Banks (UBs) on the ground of non-suitability. It rejected applications of VSoft Technologies and Calicut City Service Co-operative Bank for SFBs. The remaining five applications for SFBs are presently under scrutiny.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:5:"guest";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-14T14:01:54+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:5576:"
By Trisha Shreyashi&nbsp;

Reserve Bank of India (RBI) recently rejected six out of eleven applications by entities aspiring for on-tap banking licenses. RBI turned down all the applications for Universal Banks (UBs) on the ground of non-suitability. It rejected applications of VSoft Technologies Pvt Ltd and Calicut City Service Co-operative Bank Ltd for SFBs. The remaining five applications for SFBs are presently under scrutiny.

What is the difference between UBs and SFBs?

UBs are financial entities like commercial banks, financial institutions, NBFCs, etc. that undertake multiple financial transactions. Small Finance Banks (SFBs) are focused financial institutions registered as a public limited company providing banking and credit services to unserved &amp; unbanked regions of the country like marginal farmers, MSMEs, and other non-risk sharing financial activities with RBI’s prior approval. UBs were underscored as a development financial institution (DFI) by the Narsimham committee and the concept of SFBs was laid down in Raghuram Rajan Committee.&nbsp;

On-tap bank licensing facility enables a window for making applications for bank licenses at the RBI throughout the year. This year-round window was introduced in 2016 with the view to further financial Inclusion and creation of more financing institutions. Prior to that, banking licenses were granted upon invitation of applications by RBI to prospective players. The last time RBI granted UB licenses was in 2015 to Bandhan Bank and IDFC Bank. It approved Unity SFB in 2021 to rescue the scam-hit Punjab &amp; Maharashtra Cooperative Bank.

What is the selection process?

UBs and SFBs are subject to Banking Regulation Act, RBI Act, and all statutes as applicable to banking entities. The specific guidelines for on-tap licensing of UBs and SFBs in the private sector were issued on August 1, 2016, and December 5, 2019, respectively.&nbsp;

In the first stage, the applications are screened by RBI to ensure prima facie eligibility. Post-screening, it is forwarded to the Standing External Advisory Committee (SEAC) constituted of industry experts and eminent persons with experience in the BFSI sector, appointed for three years. SEAC’s recommendations shall then be examined by the Internal Screening Committee (ISC) consisting of Governor and Deputy Governors.&nbsp;

ISC’s observations shall be forwarded to the Central Board (CB) of RBI that exercises the final discretion to grant in-principle approval for 18 months. Upon the culmination of this period, RBI shall on satisfaction with compliances grant the regular license for commencement of banking business.

Who can apply for UB, SFB and UCB licenses?

Any individual/entity with at least 10 years of experience in banking and finance at the senior level or private entities with 10 years of successful track record are eligible to apply for on-tap licensing as UBs. Secondly, aspiring entities ought to have assets of Rs. 5000 crore or above. Thirdly, the required net worth is Rs. 500 crore that has to be maintained at all times. However, large industrial houses are restricted to only invest in UBs up to 10% only.&nbsp;

While the guidelines do not restrict applicants to only corporate entities, they vest discretion upon RBI to look for a strong promoter with significant experience and a proven track record. RBI emphasizes the entity’s track record in conforming to the best international and domestic standards of customer service, integrity, and efficiency. It implies that RBI would grant the licenses on the basis of discretional prudential factors, in addition to rule-based eligibility criteria.&nbsp;

For an application for SFB, the individual entity must have 10 years of experience in the BFSI sector at the senior level. In the case of a corporate entity applicant, it must have at least 5 years of successful track record. Corporate applicants also encompass NBFCs, microfinance institutions, local banks and cooperative banks also. This aids such entities to expand their business on the liability side. Secondly, the minimum paid-up voting equity capital or net worth is Rs. 200cr., considering the size of operations and limited scope of activities.&nbsp;

In the case of urban cooperative banks (UCBs) voluntarily transitioning as SFB shall have an initial net worth of Rs. 100 crore only but shall be increased to Rs 200 crores within five years from the commencement of business. However, this conversion model is plagued by ambiguities in promoter identification, investment plans and capital infusion by promoter groups.&nbsp;

Summarily, there are five aspects that applicants ought to fulfill: (i) financial inclusiveness, (ii) soundness of business &amp; technological model, (iii) strong management track record, (iv) sustainable governance, and (v) adequate capital structure.&nbsp;

The idea is that local players would be able to align themselves with respective target customer segments. Thus, it is imperative for the remainder and future applicants who fulfill the eligibility criteria that they maintain sustainable financial principles.&nbsp;

(Trisha Shreyashi is a lawyer and columnist. She is a part of academia at Harvard Business Review and Cambridge University Press. Views are personal and not necessarily that of Financial Express Online)";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:84:"https://www.financialexpress.com/wp-content/uploads/2022/06/RBI-Reuters-logo-1-3.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:89:"Reserve Bank of India logo is seen at the gate of its office in New Delhi (File: Reuters)";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:92:"https://www.financialexpress.com/wp-content/uploads/2022/06/RBI-Reuters-logo-1-3-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:10;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:77:"RBL Bank share price tanks on Monday as choice of new CEO disappoints markets";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:144:"https://www.financialexpress.com/industry/banking-finance/rbl-bank-share-price-tanks-on-monday-as-choice-of-new-ceo-disappoints-markets/2559719/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Tue, 14 Jun 2022 10:57:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:3:"RBL";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:144:"https://www.financialexpress.com/industry/banking-finance/rbl-bank-share-price-tanks-on-monday-as-choice-of-new-ceo-disappoints-markets/2559719/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:208:"The selection of a former public sector bank (PSB) executive, also known for steering the resolution of a bankrupt housing finance company, sent alarm bells ringing about the state of RBL Bank’s financials.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:13:"anamika sinha";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-14T10:57:43+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:2671:"
A day after RBL Bank appointed R Subramaniakumar as its chief executive, analysts watching the sector expressed disappointment at the choice. The selection of a former public sector bank (PSB) executive, also known for steering the resolution of a bankrupt housing finance company, sent alarm bells ringing about the state of RBL Bank’s financials. RBL Bank&#8217;s share price hit a lifetime low of Rs 86.25 on Monday amid a heavy selloff in Indian equities.

Analysts at CLSA said in a report that the new CEO appointment raises several questions which could come to weigh on the stock’s performance. “Mr. Subramaniakumar is an ex-PSU banker, and historically such appointments at financial institutions have been associated with weak asset quality and/or governance structures. Hence, the CEO appointment raises more questions including the continuity of the existing top leadership at the bank,” the broking firm said.

Although CLSA believes asset quality will not be a problem for RBL Bank, the situation could have a potential weakening impact on liabilities and hence affect the bank’s performance and growth trajectory adversely. Therefore, the broking firm has downgraded its recommendation on the bank to ‘outperform’ from ‘buy’ on an unchanged price target of Rs 130.

Other sector watchers echoed CLSA’s confidence in RBL Bank’s asset quality, but made a case for greater clarity on some other aspects. Kotak Institutional Equities (KIE) said that it would watch out for the lender’s strategy, given its reliance on high-yielding product segments like credit cards and microfinance, as well as its ability to retain employees.

“We also need to understand the medium-term relationship of Bajaj Finance, given that they would need a strong partner to achieve their growth objectives as well,” KIE said. RBL Bank has a co-branded credit card partnership with Bajaj Finance for a five-year period up to December 2026.

Questions also prevailed about the likely cultural problems that could crop up with a PSU banker taking charge at a private bank. Analysts at Emkay Global Financial Services said, “We believe that his selection by RBL and relatively swift approval by the RBI indicate possible RBI blessing throughout the process to bring stability and credibility to the bank.”

While the new CEO’s priority would likely be to improve portfolio quality, strengthen compliance and risk management architecture and stabilise the bank, there could be a potential risk of some asset-quality clean-up and mid-level management attrition, Emkay said.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:79:"https://www.financialexpress.com/wp-content/uploads/2022/06/RBL-bank-shares.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:105:"RBL Bank's share price hit a lifetime low of Rs 86.25 on Monday amid a heavy selloff in Indian equities. ";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:87:"https://www.financialexpress.com/wp-content/uploads/2022/06/RBL-bank-shares-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:11;a:6:{s:4:"data";s:23:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:64:"‘As a universal bank, RBL must diversify its loan offerings’";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:124:"https://www.financialexpress.com/industry/banking-finance/as-a-universal-bank-rbl-must-diversify-its-loan-offerings/2559684/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Tue, 14 Jun 2022 10:25:07 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:4:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:14:"banking sector";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:3;a:5:{s:4:"data";s:3:"RBL";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:124:"https://www.financialexpress.com/industry/banking-finance/as-a-universal-bank-rbl-must-diversify-its-loan-offerings/2559684/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:189:" The lender will now prioritise diversifying its loan book to branch out beyond its niche of credit cards and microfinance into housing loans and vehicle finance, he said. Edited excerpts: ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:13:"anamika sinha";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-14T10:50:59+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:3813:"
The asset quality metrics of RBL Bank offer no reason for alarm, newly-appointed MD &amp; CEO R Subramaniakumar told Shritama Bose. The lender will now prioritise diversifying its loan book to branch out beyond its niche of credit cards and microfinance into housing loans and vehicle finance, he said. Edited excerpts:

Your image as a turnaround guy has led to some concerns about RBL’s asset quality situation. How would you react to that?

I will draw your attention to the March 2022 balance sheet and the management commentary associated with that. The net NPA is down to 1.34%. The provision coverage ratio is at 70% without technical write-offs. If you add technical write-offs, it goes up to 80%. I also don’t remember seeing any divergence. As per the regulator’s directions, any divergence which they notify in their report of the risk-based internal audit, banks must declare along with the results. So, there is no divergence between the NPAs recognised and the regulator’s assessment.

How will you approach the bank’s asset portfolio?

The strategy paper drafted by the bank and approved by the regulator says the diversification of retail disbursements is going to be far and wide on the liability and asset sides. On the assets side, we will be venturing deep into rural areas for two-wheelers and used-car finance. The third will be housing loans, which we have started. I also have a lot of ideas about retail expansion. When I was at Indian Overseas Bank, retail, agri and MSME accounted for 65-70% of all assets. That gives us a chance to strengthen the balance sheet and leverage the capital availability. Another point in the strategy paper is that they want to spread the retail liability products and try to on-board more retail customers. That makes stable and sustainable inflows available for long-term loans like housing loans.

What will be your immediate focus?

The immediate point is that I want the entire management team to work along with me. Rather, I would say that I am joining their team to make the dreams of RBL, its investors and other stakeholders to be fulfilled. As I look at the vision of this bank, adding value to stakeholders is the bottom line of the bank. Rajeev Ahuja has made a very categorical statement that he’ll stay put to work along with me and take the bank to the next level. We want to move from RBL 1.0, which we have seen in the last one decade, to RBL 2.0, which will be done in half the time. For this, the steps that need to be taken are spreading the risk, spreading the concentration of the portfolio, introducing new products and increasing the wallet share of the customers with whom we have existing relationships. We are undertaking universal banking and we are not one of the single-product companies or NBFCs. So we have to increase the product verticals and product lines. I would like to convey to the investor community that as RBL 1.0, the bank has taken the leadership position in some areas like credit cards and microfinance. These have been adequately provided for wherever the risk has been assessed by the management. While retaining these niche areas of strength, we will add multiple verticals which will be high-income and capital-light.

Will that hurt margins?

There will definitely be a few basis points’ impact. We are retaining the proposition of these two products, so the continuous flow will be there. When the size of the pie increases with new products, there will be a small realignment. One has to have long-term sustainability as well as long-term growth. How exactly the realignment pans out, we’ll have to wait and see.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:81:"https://www.financialexpress.com/wp-content/uploads/2022/06/R-Subramaniakumar.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:17:"R Subramaniakumar";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:89:"https://www.financialexpress.com/wp-content/uploads/2022/06/R-Subramaniakumar-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:12;a:6:{s:4:"data";s:23:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:54:"Lenders go slow on gold loans amid intense competition";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:121:"https://www.financialexpress.com/industry/banking-finance/lenders-go-slow-on-gold-loans-amid-intense-competition/2559262/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Tue, 14 Jun 2022 02:30:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:4:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:5:"loans";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:3;a:5:{s:4:"data";s:4:"NBFC";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:121:"https://www.financialexpress.com/industry/banking-finance/lenders-go-slow-on-gold-loans-amid-intense-competition/2559262/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:109:"With competitive intensity rising, NBFCs turned to market strategies that prioritised growth over margins.  ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Anish Mondal";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-14T02:30:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:3097:"
As the pandemic recedes, lenders with presence in the gold loan market are reconsidering aggressive growth strategies they employed last year. Non-banking financial companies (NBFCs) have discontinued teaser loans which they had launched to take on the increasing presence of banks in the segment.

During the first year of Covid-19, quite a few large banks had increased their exposure to gold loans, which were seen a safe means of growing the retail book. The Reserve Bank of India’s (RBI) decision to raise the amount banks could lend to 90% of the value of gold ornaments from 75% also helped lenders gain an edge over NBFCs. With competitive intensity rising, NBFCs turned to market strategies that prioritised growth over margins. &nbsp;

That might be changing now. VP Nandakumar, MD and CEO, Manappuram Finance, in a post-results call last month said the intense price competition among NBFCs had begun to affect its margins in gold loans. “Therefore, we took a conscious decision to steadily withdraw from the price war, notwithstanding its short-term impact on growth. However, going forward, we see this as a temporary or passing phase because of unhealthy competition,” he said.

Bank exposure to gold loans has also dipped, according to sectoral data for April released by the RBI. As on April 22, 2022, the value of outstanding bank loans against gold jewellery was down 3% year-on-year (YoY) to Rs 74,281 crore. In April 2021, gold loans by banks had grown 86% YoY. One reason for the slowdown could be closing of the window for higher loan-to-value ratio in April 2021.

Major bank players in the gold loan segment – CSB Bank and Federal Bank – reported slower growth through much of FY22. Shyam Srinivasan, MD &amp; CEO, Federal Bank, said during the first nine months of FY22, the gold loan market slowed and the bank saw lower traction. “It picked up quite meaningfully in Q4 and I see that continuing in FY23,” he said in an investor call.

Analysts say the positive takeaway from all these is the discontinuation of teaser loans, where interest rates are kept low during the initial period, only to be raised later. In a report dated June 7, CLSA said teaser loans launched during November 2021 were discontinued in March-April. “Those loans were at 7-8%. The cheapest loan now available is 10% at two gold lenders and 12% for the third,” the report said, referring to gold loan NBFCs.

While the slower growth in April 2021 could be due to the seasonal phenomenon of customers retrieving their gold for the wedding season, the withdrawal of teaser rates could also be playing a part, CLSA said.

Although NBFCs have increased loan rates, banks have left them unchanged, with the cheapest loans from banks still starting at around 7%, CLSA said. The competition may be here to stay, with the country’s largest private lender, HDFC Bank, expanding its gold loan footprint. The bank is working towards making all its branches in Maharashtra capable of processing gold loans by the end of FY23.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-314.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:246:"“Therefore, we took a conscious decision to steadily withdraw from the price war, notwithstanding its short-term impact on growth. However, going forward, we see this as a temporary or passing phase because of unhealthy competition,” he said.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-314-300x166.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"166";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:13;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:54:"Auto-debit bounce rates ease to over 3-year low in May";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:121:"https://www.financialexpress.com/industry/banking-finance/auto-debit-bounce-rates-ease-to-over-3-year-low-in-may/2559284/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Tue, 14 Jun 2022 01:15:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:10:"Debit Card";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:121:"https://www.financialexpress.com/industry/banking-finance/auto-debit-bounce-rates-ease-to-over-3-year-low-in-may/2559284/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:282:"According to data released by the National Payments Corporation of India (NPCI), of the 101.8 million debit requests made in May over the NACH platform, 29.5 million bounced. In terms of value, of the debit requests for Rs 94,752 crore, declines were to the tune of Rs 20,812 crore.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Anish Mondal";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-14T01:15:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:2555:"
The share of failed auto-debit requests on the National Automated Clearing House (NACH) platform eased to a 38-month low of 22% in terms of value in May 2022, down 50 basis points (bps) from the previous month. In volume terms, the bounce rate stood at a 33-month low of 29%, down 90 bps from April. According to data released by the National Payments Corporation of India (NPCI), of the 101.8 million debit requests made in May over the NACH platform, 29.5 million bounced. In terms of value, of the debit requests for Rs 94,752 crore, declines were to the tune of Rs 20,812 crore.

Sector experts said that the May bounce rate by value is well below pre-Covid levels of 24-25% and near June 2019 levels. ICICI Securities said in a report on Monday that the improving bounce rate trajectory after a surprise rise in March 2022 suggests that slippages and credit cost will decrease going forward in FY23. “Also, Q4FY22 earnings reflected that asset quality woes have waned for financiers and the focus is shifting back to growth,” the report said.

In the backdrop of strong inflationary pressures, rising input costs and interest rate hikes by banks, analysts will now closely watch the extent of deterioration in lenders’ asset quality. A majority of home loans extended by banks have been repriced upwards twice in as many months with the Reserve Bank of India (RBI) hiking the repo rate, to which these loans are linked.

Data from the NACH platform does not include intra-bank transactions and hence does not represent all debit requests made in the financial system. EMI payments to smaller non-banking financial companies (NBFCs) and fintechs account for a large share of debit requests made through the NACH platform. NBFCs and housing finance companies (HFCs) saw an improvement in asset quality in Q4FY22 amid lower slippages from the restructured book, analysts at rating agency Icra said on Monday. Companies augmented their collections in view of the tighter asset classification norms which are set to apply to them from October 2022.

AM Karthik, vice-president, financial sector ratings, Icra, said that the standard restructured book of NBFCs is estimated to have reduced to 2.7-3% in March 2022 from the peak of 4.5% in September 2021, and for HFCs it moderated to 1.4-1.6% from 2.2%. “The performance of this book would remain a monitorable, considering the weakening macroeconomic/operating environment and the balloon repayment schedule of some of these loans,” Karthik said.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-321.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:147:"“Also, Q4FY22 earnings reflected that asset quality woes have waned for financiers and the focus is shifting back to growth,” the report said.
";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-321-300x166.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"166";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:14;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:92:"RBI’s regulations need periodic review to align them with evolving industry practices: RRA";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:155:"https://www.financialexpress.com/industry/banking-finance/rbis-regulations-need-periodic-review-to-align-them-with-evolving-industry-practices-rra/2559148/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Mon, 13 Jun 2022 17:54:51 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:3:"RBI";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:155:"https://www.financialexpress.com/industry/banking-finance/rbis-regulations-need-periodic-review-to-align-them-with-evolving-industry-practices-rra/2559148/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:295:""The recommendations of the RRA would be internalised by the Reserve Bank to achieve the intended outcomes. The RRA exercise should, going forward, result in clarity, simplification, accessibility and rationalisation in regulatory instructions and returns," the central bank said in a statement.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Anish Mondal";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-13T17:55:14+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:3097:"
RBI&#8217;s Regulations Review Authority has suggested all regulations of the central bank should underline the rationale and be reviewed periodically to align them with evolving industry practices and financial landscape.

Regulations Review Authority (RRA 2.0) was set-up by the Reserve Bank of India in April last year with the objective of reducing the compliance burden on Regulated Entities (REs) by streamlining the regulatory instructions and rationalising reporting requirements.

&#8220;The recommendations of the RRA would be internalised by the Reserve Bank to achieve the intended outcomes. The RRA exercise should, going forward, result in clarity, simplification, accessibility and rationalisation in regulatory instructions and returns,&#8221; the central bank said in a statement.

The RRA 2.0, in its report, also recommended that any ad hoc return introduced for capturing specific data should be prescribed with a sunset clause of not more than six months duration.

&#8220;To address gaps in understanding, interpreting and implementing the instructions, the regulatory instructions should contain a brief statement of object underlying the rationale for issuance of instructions,&#8221; it said.

The instructions should be supplemented with FAQs/guidance notes and illustrations, wherever necessary, it added. The RRA has also suggested periodic review of existing regulations for aligning them with evolving developments in the industry practices and financial landscape.

It has recommended elimination of paper-based returns and suggested periodic review of regulatory and supervisory returns filed by the REs at least once in three years to ascertain their relevance and periodicity.

Also, &#8220;all the contents posted on RBI website may be updated on real-time basis. The RBI website layout may be enhanced to make it more interactive and convenient for navigation&#8221; it said.

All instructions on the RBI website may be categorised subject-wise, function-wise and based on category of regulated entities with the necessary linkages to relevant FAQs, consultative papers and master directions, among others.

The report also noted that drafting of regulations involves capturing the policy proposals in a precise manner and achieving the intended effect by logically organising the text and providing clarity of expression.

&#8220;It is, therefore, imperative that the officials involved in the drafting of regulations are trained appropriately,&#8221; it said, and added the officers would need continuous orientation and training.

The first Regulations Review Authority was formed in 1999. After two decades, considering the evolution of the regulatory perimeter and development of the regulatory functions of the Reserve Bank, RRA 2.0 was constituted.

RRA 2.0 has recommended withdrawal of 714 circulars in four tranches of interim recommendations. It had also recommended discontinuation/merger/conversion to online filing of 65 regulatory returns.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-299.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-299-300x166.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"166";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:15;a:6:{s:4:"data";s:20:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:66:"R Subramaniakumar to join as MD &amp; CEO of RBL Bank from June 24";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:127:"https://www.financialexpress.com/industry/banking-finance/r-subramaniakumar-to-join-as-md-ceo-of-rbl-bank-from-june-24/2559058/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Mon, 13 Jun 2022 16:32:03 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:1:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:127:"https://www.financialexpress.com/industry/banking-finance/r-subramaniakumar-to-join-as-md-ceo-of-rbl-bank-from-june-24/2559058/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:78:"Bank's advances during the year grew by a modest 2 per cent to Rs 60,022 crore";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:14:"Shriparna Saha";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-13T16:32:30+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:3130:"
Banking sector veteran R Subramaniakumar, with over 40 years of experience, will take charge of private sector RBL Bank from June 24, replacing the interim MD &amp; CEO Rajeev Ahuja. Ahuja took charge as the interim MD &amp; CEO of the bank after the sudden ouster of the then chief Vishwavir Ahuja in late December 2021, who was sent on leave with immediate effect.

Subramaniakumar had in past served as the Managing Director &amp; Chief Executive Officer (MD &amp; CEO) of Chennai-based public sector lender Indian Overseas Bank (IOB) and also as the Executive Director (ED) of the bank.

Besides, he was also the ED at Indian Bank and held various positions in the banking industry. He was instrumental in the transformation at Delhi-based Punjab National Bank (PNB). Also, he served as a board of director of PNB&#8217;s Bhutan joint venture Druk PNB.

The search committee constituted to identify the MD &amp; CEO for the bank ran an exhaustive process along with Egon Zehnder and recommended the name of R Subramaniakumar, a highly capable and a meritorious person for the job, RBL Bank said in a statement.

Prakash Chandra, Chairman of the board, RBL Bank, said Subramaniakumar is a veteran in the industry and his experience and support will further strengthen the organisation.

&#8220;I am confident that his leadership will present an opportunity for us to reinvent and unlock the immense potential of the bank,&#8221; Chandra said.

Rajeev Ahuja, whose term comes to an end on June 24, welcomed Subramaniakumar&#8217;s appointment, exuding confidence that the bank will greatly benefit from his experience.

&#8220;I would like to extend my complete support to him and look forward to working together and take the bank forward in its growth journey,&#8221; Ahuja stated.

Subramaniakumar said: &#8220;RBL Bank has achieved phenomenal success ever since its transformation began about a decade back and I am sure we will script another phenomenal story going forward.&#8221; In a raft of developments in late December last year, RBI had appointed its Chief General Manager Yogesh K Dayal an additional director to RBL Bank&#8217;s board while sending Vishwavir Ahuja on leave, amidst concerns over bank&#8217;s financial health.

Following this, Rajeev Ahuja assured that bank&#8217;s financial position was strong and it had full support of RBI and its board of directors. Rajeev was appointed as the interim MD &amp; CEO of the bank for a period of three months with effect from December 25, 2021, which was further extended by another three months with effect from March 25, 2022 or till the time a regular MD &amp; CEO was appointed.

In fiscal year 2021-22, RBL Bank had posted a net loss of Rs 75 crore, while there was a net profit of Rs 508 crore in the preceding fiscal year. Bank&#8217;s advances during the year grew by a modest 2 per cent to Rs 60,022 crore, while deposits were up by 8 per cent to Rs 79,007 crore.

Stock of RBL Bank tumbled over 20 per cent to close at Rs 87.90 apiece on the BSE on Monday";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:68:"https://www.financialexpress.com/wp-content/uploads/2022/06/RBL.jpeg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:96:"The search committee constituted to identify the MD & CEO for the bank ran an exhaustive process";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:76:"https://www.financialexpress.com/wp-content/uploads/2022/06/RBL-300x166.jpeg";s:5:"width";s:3:"300";s:6:"height";s:3:"166";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:16;a:6:{s:4:"data";s:23:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:66:"Bad bank AMC hits regulatory hurdle; transfer of bad loans delayed";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:132:"https://www.financialexpress.com/industry/banking-finance/bad-bank-amc-hits-regulatory-hurdle-transfer-of-bad-loans-delayed/2558059/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Mon, 13 Jun 2022 04:30:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:4:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:14:"banking sector";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:3;a:5:{s:4:"data";s:3:"RBI";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:132:"https://www.financialexpress.com/industry/banking-finance/bad-bank-amc-hits-regulatory-hurdle-transfer-of-bad-loans-delayed/2558059/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:264:"
In January, State Bank of India (SBI) chairman Dinesh Khara said the NARCL had received all approvals to start operations and a total of 38 non-performing asset (NPA) accounts worth Rs 82,845 crore were already identified to be transferred to the NARCL in phases.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:17:"Subhajit Dasgupta";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-13T04:30:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:3673:"
The Reserve Bank of India (RBI) has raised concerns over the lack of clarity on the regulatory oversight of an asset management company (AMC) that was proposed to be set up under the overarching structure of the National Asset Reconstruction Company Ltd (NARCL), or the so-called bad bank, people familiar with the matter told FE.

This, coupled with some other operational issues, has delayed the transfer of large bad loans of about Rs 50,000 crore to the NARCL in the first phase from the initial targeted deadline of March 2022.

“The RBI has asked while it will have regulatory/supervisory role over the NARCL, whom is this AMC accountable to? It’s a valid question and the matter is expected to be resolved soon. Bad loans can then be transferred to the NARCL,” said one of the sources. Another source said the issue is still “under examination”.

A banking source said the RBI may soon take a decision on the matter, having discussed the issue with relevant stakeholders. As the NARCL concept is new to India, once regulatory clarity is established, it will pave the way for the setting up of similar entities in future, he said.

In January, State Bank of India (SBI) chairman Dinesh Khara said the NARCL had received all approvals to start operations and a total of 38 non-performing asset (NPA) accounts worth Rs 82,845 crore were already identified to be transferred to the NARCL in phases.

As per the plan, the NARCL will acquire bad assets by making an offer to the lead bank. Once its offer is accepted, the India Debt Resolution Company (IDRCL), which is being set up as an AMC under the NARCL, will manage the bad loans, add value to them and finally sell them off. In all, large NPAs worth Rs 2 trillion were estimated to be transferred to the NARCL over five years.

The NARCL has shareholding from 15 lenders, mainly public-sector banks (PSBs), and Canara Bank is the sponsor bank. According to the earlier plan, PSBs will hold 51% in NARCL and private players will own the rest. Similarly, state-run banks and public financial institutions will have a 49% stake in IDRCL, and the rest will be held by private lenders.

In September 2021, the Cabinet had approved a proposal to offer sovereign guarantee on the security receipts (SRs) issued by the NARCL, which is estimated to cost the exchequer Rs 30,600 crore over five years. Although the government is giving guarantee on the SRs, it has not contributed to the equity of the bad bank. In the Budget for FY22, finance minister Nirmala Sitharaman had announced the initiation of the process to set up the bad bank.

Explaining the reason as to why it chose to back the NARCL when 28 private ARCs are already operational, government officials had said that these entities had lacked adequate financial and operational muscle to work out large stressed assets of Rs 500 crore or more — the kind of NPAs that would be transferred to the bad bank.

The RBI had, in December 2021, warned that bad loans of commercial banks could rise to anywhere between 8.1% and 9.5% under varied degrees of stress by September 2022, from 6.9% in September 2021. In this light, swift operationalisation of the NARCL assumes importance. Of course, the central bank had highlighted that banks were generally well-placed to weather credit-related shocks, thanks to sound capital adequacy.

NARCL last month roped in former SBI deputy managing director Natarajan Sundar as its MD and chief executive. Similarly, it appointed Karnam Sekar, former MD &amp; CEO of Indian Overseas Bank, as its non-executive chairman last month.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-210.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-210-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:17;a:6:{s:4:"data";s:24:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:54:"DHFL administrator R Subramaniakumar is RBL Bank chief";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:121:"https://www.financialexpress.com/industry/banking-finance/dhfl-administrator-r-subramaniakumar-is-rbl-bank-chief/2557388/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Sun, 12 Jun 2022 05:30:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:5:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:7:"Banking";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:3;a:5:{s:4:"data";s:14:"banking sector";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:4;a:5:{s:4:"data";s:3:"RBL";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:121:"https://www.financialexpress.com/industry/banking-finance/dhfl-administrator-r-subramaniakumar-is-rbl-bank-chief/2557388/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:102:"The bank received the communication approving Subramaniakumar’s appointment from the RBI on Friday. ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:17:"Subhajit Dasgupta";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-12T05:30:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:1823:"
The Reserve Bank of India (RBI) has cleared the appointment of R Subramaniakumar as managing director and chief executive officer of RBL Bank for a period of three years, the lender said on Saturday. Subramaniakumar has earlier overseen the insolvency process of Dewan Housing Finance Corporation (DHFL) in his capacity as administrator.

“Please note that a meeting of the board of directors of the bank will be convened in due course upon the completion of requisite formalities, inter alia to approve the appointment of Mr R Subramaniakumar as an additional director and as the managing director &amp; CEO of the bank and the approval of the shareholders shall be obtained thereafter as per the applicable provisions of the Companies Act, 2013 and Sebi listing regulations,” RBL Bank said in a communication to the exchanges.

The bank received the communication approving Subramaniakumar’s appointment from the RBI on Friday. Subramaniakumar has 40 years of experience as a banker. He started his career at Punjab National Bank (PNB) in 1980 and went on to head business transformation at the bank for three years. He was later appointed executive director at Indian Bank and Indian Overseas Bank (IOB). He also held the position of MD &amp; CEO of IOB. He is currently an independent director on the board of LIC Pension Fund.

At present, RBL Bank is being led by interim MD &amp; CEO Rajeev Ahuja. In December, the bank’s board had constituted a search committee to identify a new CEO. The change in guard was necessitated by the bank’s former CEO Vishwavir Ahuja going on leave on December 25 after the RBI appointed its executive Yogesh Dayal to the bank’s board as an additional director. Vishwavir Ahuja went on leave roughly six months ahead of the end of his tenure.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:67:"https://www.financialexpress.com/wp-content/uploads/2022/01/RBL.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:158:"At present, RBL Bank is being led by interim MD & CEO Rajeev Ahuja. In December, the bank’s board had constituted a search committee to identify a new CEO. ";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:75:"https://www.financialexpress.com/wp-content/uploads/2022/01/RBL-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:18;a:6:{s:4:"data";s:20:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:38:"Bank of Baroda hikes MCLR by 10-20 bps";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:105:"https://www.financialexpress.com/industry/banking-finance/bank-of-baroda-hikes-mclr-by-10-20-bps/2556650/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Sat, 11 Jun 2022 08:56:12 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:1:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:105:"https://www.financialexpress.com/industry/banking-finance/bank-of-baroda-hikes-mclr-by-10-20-bps/2556650/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:177:"So far, ICICI Bank increased the marginal cost of funds-based lending rates (MCLR) by 30 basis points while HDFC Bank increased its MCLR rates by 35 basis points across tenures.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:14:"Shriparna Saha";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-11T08:56:24+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:1187:"
BANK OF BARODA on Friday increased the marginal cost of funds-based lending rates (MCLR) by 10 to 20 basis points across tenures, effective June 12. With this increase, the bank’s one-year MCLR now stands at 7.50%, according to information on the lender’s website.

So far, ICICI Bank increased the marginal cost of funds-based lending rates (MCLR) by 30 basis points while HDFC Bank increased its MCLR rates by 35 basis points across tenures.

Axis Bank’s one-year MCLR is at 7.75%, IndusInd Bank’s one-year MCLR is at 8.75% while that of State Bank of India is at 7.2%.

With the Reserve Bank of India (RBI) signaling an uptrend in the rate cycle and also a tightening of liquidity, banks have started increasing their loan rates. While some lending rates are linked to external benchmarks like the repo rate, others depend on the cost of funds.

Although deposits are growing at a healthy pace, following the withdrawal of liquidity from the system by the central bank, lenders may need to attract more deposits by increasing interest rates on them. Deposits grew by 9% year-on-year to `165.7 trillion during the fortnight ended May 20.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:79:"https://www.financialexpress.com/wp-content/uploads/2022/06/bank-of-baroda.jpeg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:51:"Bank of Baroda's one-year MCLR now stands at 7.50% ";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:87:"https://www.financialexpress.com/wp-content/uploads/2022/06/bank-of-baroda-300x166.jpeg";s:5:"width";s:3:"300";s:6:"height";s:3:"166";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:19;a:6:{s:4:"data";s:23:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:52:"Expression of interest for IDBI Bank sale next month";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:119:"https://www.financialexpress.com/industry/banking-finance/expression-of-interest-for-idbi-bank-sale-next-month/2556233/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Sat, 11 Jun 2022 02:44:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:4:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:9:"IDBI Bank";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:3;a:5:{s:4:"data";s:3:"LIC";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:119:"https://www.financialexpress.com/industry/banking-finance/expression-of-interest-for-idbi-bank-sale-next-month/2556233/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:221:"The Department of Investment and Public Asset Management (Dipam), which held roadshows in the US in the last few days, will have a few more domestic roadshows before finalising the contours of the sale, the official said.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Anish Mondal";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-11T02:44:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:1619:"
The Centre will likely invite expression of interest for strategic disinvestment of IDBI Bank by end-July, a top government official said on Friday. The Department of Investment and Public Asset Management (Dipam), which held roadshows in the US in the last few days, will have a few more domestic roadshows before finalising the contours of the sale, the official said.

“We may need one more round of discussion with the Reserve Bank of India on IDBI strategic sale. Thereafter, we will decide what will be the consortium structure in case of joint bids and merger conditions (if the winning bidder wants to merge IDBI Bank with another existing lender),” the official said. Besides banks, financial investors (other than corporate houses) are the potential bidders for IDBI Bank.

Currently, LIC (49.24%) and the government (45.48%) together hold 94.78% stake in IDBI Bank worth about Rs 38,000 crore at the current market prices. Both the government and LIC plan to sell majority stake to a buyer and handover the management control.

To make the deal attractive, the government has approached the RBI to consider giving the potential buyer of IDBI Bank some leeway on complying with the regulatory norms for private banks, including a time-bound reduction in promoter holdings. It has also urged the Securities and Exchange Board of India (Sebi) to give some flexibility to the strategic investor in IDBI Bank on the minimum public float norm for listed companies.

IDBI Bank shares ended at Rs 36.7 on Friday, down 2% from the previous closing on the BSE.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-276.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:309:"“We may need one more round of discussion with the Reserve Bank of India on IDBI strategic sale. Thereafter, we will decide what will be the consortium structure in case of joint bids and merger conditions (if the winning bidder wants to merge IDBI Bank with another existing lender),” the official said.
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 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:69:"RBI tells small finance banks to focus on business models, governance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:135:"https://www.financialexpress.com/industry/banking-finance/rbi-tells-small-finance-banks-to-focus-on-business-models-governance/2555962/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Sat, 11 Jun 2022 00:15:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:3:"RBI";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:135:"https://www.financialexpress.com/industry/banking-finance/rbi-tells-small-finance-banks-to-focus-on-business-models-governance/2555962/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:292:"Among other matters, asset quality concerns, including a viable portfolio mix and further strengthening of customer service and grievance redressal frameworks with commensurate information technology (IT) resilience, were discussed. The RBI also took note of suggestions and inputs from SFBs.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Anish Mondal";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-11T00:15:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:2703:"
In a meeting with the heads of small finance banks (SFBs) on Friday, the Reserve Bank of India (RBI) advised them to pay close attention to their business models and governance, in the light of recent developments in the sector. The meeting was led by RBI deputy governors MK Jain and M Rajeshwar Rao. “SFBs were advised to continue to evolve in tune with the differentiated banking licence given to them with proportionate growth in their capital base,” the RBI said in a statement.

Among other matters, asset quality concerns, including a viable portfolio mix and further strengthening of customer service and grievance redressal frameworks with commensurate information technology (IT) resilience, were discussed. The RBI also took note of suggestions and inputs from SFBs.

In the last few months, some SFBs have been in the news because of issues related to corporate governance and also problems on the credit quality front. In May, PN Vasudevan, MD &amp; CEO, Equitas SFB, resigned, stating that he wished to focus on social and charitable commitments. In September 2021, Jaipur-headquartered AU SFB had seen senior executives resigning from its audit and risk departments. The bank had come in for criticism from the markets for lags in disclosing the resignations.

Earlier, in August 2021, then chief executive of Ujjivan SFB Nitin Chugh had stepped down from the role, citing personal reasons, amid speculation that there might have been differences between him and the older management. In January this year, the RBI approved the appointment of Ittira Davis as MD &amp; CEO of Ujjivan SFB for a one-year period.

Historically, SFBs have had a sizeable portion of their loan books in the microfinance segment, which exposed them to asset quality risks during the pandemic. However, most of them improved their performance in Q4FY22.

In a post-results report on Ujjivan SFB, Kotak Institutional Equities wrote, “Ujjivan has weathered the twin issues of severe asset quality challenges during Covid and a confidence crisis due to CEO exit. Having gone through the pain (loss over FY 2021-22), the bank is now in a much better position with regards to asset quality, loan growth, deposit profile, margins and ultimately RoEs (return on equity).”

In an earlier meeting with heads of SFBs on August 27, 2021, the RBI had told them to work on the evolution of their business model and the need for enhancing board oversight and professionalism. They were also told to improve assurance functions and augment their IT infrastructure, taking into account the stress build-up due to Covid-19, along with requisite mitigation measures.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-258.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:185:"“SFBs were advised to continue to evolve in tune with the differentiated banking licence given to them with proportionate growth in their capital base,” the RBI said in a statement.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-258-300x166.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"166";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:21;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:87:"Govt likely to invite preliminary bids for IDBI Bank privatisation next month: Official";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:153:"https://www.financialexpress.com/industry/banking-finance/govt-likely-to-invite-preliminary-bids-for-idbi-bank-privatisation-next-month-official/2556202/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Fri, 10 Jun 2022 20:21:27 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:9:"IDBI Bank";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:153:"https://www.financialexpress.com/industry/banking-finance/govt-likely-to-invite-preliminary-bids-for-idbi-bank-privatisation-next-month-official/2556202/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:220:"The Department of Investment and Public Asset Management (DIPAM) is currently holding roadshows in the US for the sale. After a few more such investor meets, it will finalise the contours of the sale, the official added.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Anish Mondal";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-10T20:22:24+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:1134:"
The government is likely to invite preliminary bids for privatising IDBI Bank by July-end, an official said.

The Department of Investment and Public Asset Management (DIPAM) is currently holding roadshows in the US for the sale. After a few more such investor meets, it will finalise the contours of the sale, the official added.

&#8220;We may need one more round of discussion with RBI on IDBI strategic sale. The expression of interest (EoI) may be invited by July-end,&#8221; the official said. The government holds 45.48 per cent stake in the bank, while LIC owns 49.24 per cent.

The official said while the quantum of stake dilution of both the government and LIC is yet to be decided, the management control in IDBI Bank will be transferred in the strategic sale.

The Cabinet Committee on Economic Affairs had given in-principle approval for strategic disinvestment and transfer of management control in IDBI Bank in May last year.

Necessary amendments to the IDBI Bank Act have already been made through the Finance Act 2021, and transaction advisors have been appointed.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-271.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:155:""We may need one more round of discussion with RBI on IDBI strategic sale. The expression of interest (EoI) may be invited by July-end," the official said.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-271-300x166.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"166";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:22;a:6:{s:4:"data";s:21:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:64:"RBI asks small finance banks to focus on increasing capital base";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:131:"https://www.financialexpress.com/industry/banking-finance/rbi-asks-small-finance-banks-to-focus-on-increasing-capital-base/2555940/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Fri, 10 Jun 2022 18:02:13 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:2:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:131:"https://www.financialexpress.com/industry/banking-finance/rbi-asks-small-finance-banks-to-focus-on-increasing-capital-base/2555940/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:165:"In a statement, the RBI said deputy governors M K Jain and M Rajeshwar Rao held discussion with Managing Directors (MDs) and Chief Executive Officers (CEOs) of SFBs.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Anish Mondal";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-10T18:02:18+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:1642:"
The Reserve Bank on Friday asked small finance banks (SBFs) to continue to evolve in tune with the differentiated banking licence given to them with proportionate growth in their capital base.

In a statement, the RBI said deputy governors M K Jain and M Rajeshwar Rao held discussion with Managing Directors (MDs) and Chief Executive Officers (CEOs) of SFBs.

Earlier in the meeting with heads of SFBs held in August last year, evolution of their business model and the need for enhancing board oversight and professionalism, improving assurance functions and augmenting IT infrastructure, taking into account the stress build-up due to COVID-19 along with requisite mitigation measures, were discussed.

&#8220;In the meeting held today (Friday), the emphasis on according due importance to these themes for sustainable growth of SFBs, particularly their business model and governance, was reiterated after taking stock of the developments in the sector,&#8221; RBI said.

SFBs, the central bank said, were advised to continue to evolve in tune with the differentiated banking licence given to them with proportionate growth in their capital base.

Among other matters, asset quality concerns including viable portfolio mix and further strengthening of customer service and grievance redressal framework with commensurate IT resilience were also discussed.

The Reserve Bank took note of the suggestions and inputs from the participants, the statement said. Executive directors of Supervision and Regulation and other senior officials of the Reserve Bank also attended the meeting.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-254.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:174:"SFBs, the central bank said, were advised to continue to evolve in tune with the differentiated banking licence given to them with proportionate growth in their capital base.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-254-300x166.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"166";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:23;a:6:{s:4:"data";s:21:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:49:"Liquidity overhang may put a lid on deposit rates";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:116:"https://www.financialexpress.com/industry/banking-finance/liquidity-overhang-may-put-a-lid-on-deposit-rates/2555099/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Fri, 10 Jun 2022 09:26:32 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:2:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:116:"https://www.financialexpress.com/industry/banking-finance/liquidity-overhang-may-put-a-lid-on-deposit-rates/2555099/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:120:"The presence of a significant amount of liquidity in the system could mean that hikes in deposit rates will be deferred.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:13:"anamika sinha";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-10T09:30:42+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:4174:"
The monetary policy committee’s rate hikes worth a cumulative 90 basis points (bps) may not immediately translate into higher returns for savers. The presence of a significant amount of liquidity in the system could mean that hikes in deposit rates will be deferred.

However, some minor tweaks to deposit rates are already underway. Kotak Mahindra Bank on Thursday raised the interest rate on savings accounts with balances above Rs 50 lakh by 50 bps to 4% per annum. The lender also raised rates on fixed deposits with maturities of over 1 year by 10 to 25 bps.Surplus liquidity, as reflected in average daily absorption under the liquidity adjustment facility (LAF), stood at Rs 5.5 trillion during May 4-May 31, lower than Rs 7.4 trillion during April 8-May 3, Reserve Bank of India (RBI) governor Shaktikanta Das said on Wednesday. “Nevertheless, the overhang of excess liquidity has resulted in overnight money market rates, on an average, trading below the policy repo rate,” he added.

Bankers said that while loans linked to the repo will get repriced immediately as a result of the latest 50-bps rate hike, deposit rates will be subjected to a close review by each bank. Suresh Khatanhar, deputy managing director, IDBI Bank, said that system liquidity will have an impact on pricing decisions. “While the repo rate has been hiked, there is still a good deal of liquidity in the system. That may result in deposit rates being hiked in a calibrated manner,” he said.

Khatanhar pointed out that even before the first rate hike in May, some banks had raised deposit rates to adjust their asset liability management (ALM) requirements. Large banks like State Bank of India (SBI) and HDFC Bank had raised deposit rates in February for maturities of three years and above.A one-year deposit of under Rs 2 crore yields 5.1% at SBI as also at HDFC Bank. In April, the weighted average domestic term deposit rate for scheduled commercial banks stood at 5.03%, according to RBI data.

Banks’ marginal cost of funds based lending rates (MCLRs) will be slower to react in terms of quantum of change than repo-linked loans, Madan Sabnavis, chief economist, Bank of Baroda, said. “The same will hold for deposit holders who will receive higher rates depending on how banks adjust their rates based on their funding requirements. As there is surplus liquidity currently in the system which can go for lending, the immediate response may be slow,” Sabnavis added.

With the additional 50 bps hike, each bank’s asset liability committee (ALCO) will now decide need-based new rates, Khatanhar said.Das had indicated on Wednesday that the RBI expects banks to raise deposit rates. “Normally, transmission does take time. But, going forward, we do expect rate hikes to get transmitted also to the liability side. In any case, when there is credit offtake, banks need to mobilise more resources by way of offering higher deposit rates to the savers,” he said.

Credit growth has been outpacing deposit growth for the past few months. During the fortnight ended May 20, deposits with banks grew 9.3% year-on-year (y-o-y), while non-food credit grew 11.5%.

The healthy credit/deposit (C/D) ratio may also keep deposit rates for some time, Krishnan ASV and Deepak Shinde, institutional research analysts at HDFC Securities, said. “Banks have increased their term deposit rates by 10-25bps during the last couple of months and the incremental rate hike is also expected to be gradual,” they said in a report.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:90:"https://www.financialexpress.com/wp-content/uploads/2022/06/Liquidity-on-deposit-rates.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:186:"Bankers said that while loans linked to the repo will get repriced immediately as a result of the latest 50-bps rate hike, deposit rates will be subjected to a close review by each bank.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:98:"https://www.financialexpress.com/wp-content/uploads/2022/06/Liquidity-on-deposit-rates-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:24;a:6:{s:4:"data";s:24:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:107:"HDFC, ICICI Bank raise retail lending rates after RBI policy, follow SBI, PNB; loans get this much costlier";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:166:"https://www.financialexpress.com/industry/banking-finance/hdfc-icici-bank-hike-lending-rates-after-rbi-policy-follows-hdfc-bank-sbi-check-interest-rates-here/2554982/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Fri, 10 Jun 2022 08:03:29 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:5:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:4:"HDFC";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:9:"HDFC Bank";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:3;a:5:{s:4:"data";s:10:"ICICI Bank";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:4;a:5:{s:4:"data";s:12:"lending rate";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:166:"https://www.financialexpress.com/industry/banking-finance/hdfc-icici-bank-hike-lending-rates-after-rbi-policy-follows-hdfc-bank-sbi-check-interest-rates-here/2554982/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:315:"FC (Housing Development Finance Corporation) and ICICI Bank have raised lending rates by up to 50 basis points (bps) days after the Reserve Bank of India increased the repo rate. HDFC’s move follows other lenders such as HDFC Bank, State Bank of India, and Punjab National Bank who recently raised interest rates.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:14:"Aakriti Bhalla";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-10T08:44:03+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:2319:"
HDFC (Housing Development Finance Corporation) and ICICI Bank have raised lending rates by up to 50 basis points (bps) days after the Reserve Bank of India increased the repo rate. HDFC and ICICI Bank’s move follows other lenders in recent days such as HDFC Bank, SBI (State Bank of India), and PNB (Punjab National Bank), which recently raised interest rates on loans by 35-50 bps. Earlier this week, the RBI&#8217;s MPC raised the key monetary policy rate by 50 bps to 4.9 per cent.

HDFC said in a stock exchange filing Thursday it has raised retail lending rate on housing loans by 50 basis points (bps), with effect from June 10. &#8220;HDFC increases its Retail Prime Lending Rate (RPLR) on Housing loans, on which its Adjustable Rate Home Loans (ARHL) are benchmarked, by 50 basis points, with effect from June 10, 2022,&#8221; it said in a filing.

ICICI Bank also said it has raised lending rates by 50 basis points as it is referenced to RBI policy rates. &#8220;ICICI Bank External Benchmark Lending Rate (I-EBLR) is referenced to RBI Policy Repo Rate with a mark-up over Repo Rate,&#8221; the lender said on its website. ICICI said effective June 8, I-EBLR is 8.60 per cent p.a.p.m. effective June 8, 2022.

The RBI of India has raised lending rates by 90 basis points in two months in order to fight the spiking inflation. RBI&#8217;s MPC voted unanimously this week to hike repo rates. Economists expect further front-loaded rate hikes in the upcoming August meeting from the RBI. Thereafter the central bank will decide on the course of policy action depending on how growth and inflation evolve, experts have said.

Moves by ICICI and HDFC come days after the country&#8217;s private private lender HDFC Bank hiked interest rates across all tenures and across categories such as housing, vehicle and personal loans by 35 bps from June 7. Punjab National Bank also said this week that with effect from June 9, the state-owned lender has increased its Repo Linked Lending Rate (RLLR) by 50 basis points. The RLLR has been raised from 6.90 percent to 7.40 percent. Earlier this month, the State Bank of India raised home loan external benchmark lending rate by 40 basis points to 7.05 percent + CRP and the increased interest rates are effective from June 1, 2022.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/06/HDFC1.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:179:"FC (Housing Development Finance Corporation) and ICICI Bank have raised lending rates by up to 50 basis points (bps) days after the Reserve Bank of India increased the repo rate. ";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/06/HDFC1-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:25;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:66:"Shriram Transport Finance secures $250m long-term funding from DFC";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:132:"https://www.financialexpress.com/industry/banking-finance/shriram-transport-finance-secures-250m-long-term-funding-from-dfc/2554804/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Fri, 10 Jun 2022 05:45:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:25:"Shriram Transport Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:132:"https://www.financialexpress.com/industry/banking-finance/shriram-transport-finance-secures-250m-long-term-funding-from-dfc/2554804/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:196:"The $250- million external commercial borrowing (ECB) is a fixed-rate 10-year loan under STFC’s social finance framework. The funding will enable STFC to further its financial inclusion mission.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Anish Mondal";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-10T05:45:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:2855:"
Shriram Transport Finance Company (STFC), one of the largest commercial vehicle financers, and part of the Shriram Group, secured a long-term funding of $250 million from the US International Development Finance Corporation (DFC) of the US. The $250- million external commercial borrowing (ECB) is a fixed-rate 10-year loan under STFC’s social finance framework. The funding will enable STFC to further its financial inclusion mission.

The funds raised from DFC will enable STFC to provide credit for the purchase of new and used vehicles throughout India. The proceeds from DFC can be used for vehicle finance for commercial purposes, alternate fuel-financing namely through CNG, LPG and electric vehicles and employment generation through MSME loans, specifically, finance women entrepreneurs. It will also be used for catering to laggard states of the country and empower and promote the social and economic status of the underserved communities in India, said STFC.

Besides the DFC loan, STFC has also raised $475 million through a 144A bond from the international market during the start of 2022, thereby continuing to diversify its funding profile. The fundraising is amid the merger process of Shriram Capital (SCL) and Shriram City Union Finance (SCUF) with STFC as a part of restructuring in Shriram Group.

Umesh Revankar, VC &amp; MD, STFC, said, “STFC’s success in securing international funding from one of the world’s leading providers of development finance is a testament to our strength and stability, as well as an endorsement of our mission to further financial inclusion. We will help fund more individual operators to buy vehicles into new markets, provide funding towards employment generation in rural areas, and empower more communities to optimise their income and have a better quality of life.”

STFC is a leader in the organised financing of pre-owned trucks with a strategic presence in 5-10-year-old truck-lending. The company has assets on balance sheet of Rs 1.27 trillion (March 2022) and has a pan-India presence with a network of 1,854 branches, and employs 25,456 employees including 19,475 business teams. The company has built a strong customer base of around 2.11 million customers.

Andrew Herscowitz, chief development officer of DFC, said, “DFC’s investment in STFC is for helping boost economic growth, development, and financial inclusion across India. DFC’s financing helps increase access to finance for owner-operators and other small businesses to purchase commercial vehicles—including business owners from rural and underserved communities. With DFC’s loan, STFC will also help to Green India’s commercial transport sector, a notoriously difficult sector to decarbonise, by financing alternative fuel and lower-emissions vehicles.”";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-222.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:174:"It will also be used for catering to laggard states of the country and empower and promote the social and economic status of the underserved communities in India, said STFC.
";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-222-300x166.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"166";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:26;a:6:{s:4:"data";s:23:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:76:"Over 1.18 crore payment devices deployed across country till April: RBI data";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:142:"https://www.financialexpress.com/industry/banking-finance/over-1-18-crore-payment-devices-deployed-across-country-till-april-rbi-data/2554838/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Thu, 09 Jun 2022 21:46:56 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:4:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:3:"RBI";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:3;a:5:{s:4:"data";s:21:"Reserve Bank of India";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:142:"https://www.financialexpress.com/industry/banking-finance/over-1-18-crore-payment-devices-deployed-across-country-till-april-rbi-data/2554838/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:229:"The PIDF scheme, operationalised by the Reserve Bank from January 2021, subsidises deployment of Points of Sale (PoS) infrastructure (physical and digital modes) in tier-3 to tier-6 centres and northeastern states of the country.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:15:"Hemant Abhishek";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-09T21:47:30+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:1678:"
More than 4.11 lakh PoS, mobile PoS and other physical devices were deployed across the country under the Payments Infrastructure Development Fund (PIDF) scheme as on April 30, 2022, the RBI said on Thursday.

Besides, 1,14,05,116 digital devices, including inter-operable QR code-based payments such as UPI QR, Bharat QR, were deployed under the scheme.

The PIDF scheme, operationalised by the Reserve Bank from January 2021, subsidises deployment of Points of Sale (PoS) infrastructure (physical and digital modes) in tier-3 to tier-6 centres and northeastern states of the country.

From August 26, 2021, beneficiaries of PM Street Vendor&#8217;s AtmaNirbhar Nidhi (PM SVANidhi Scheme) in tier-1 and tier-2 centres were also covered.

The contribution to PIDF is made by the Reserve Bank, authorised card networks and card issuing banks; the corpus currently stands at Rs 811.4 crore, the RBI said.

Acquiring institutions (banks and non-banks), registered under the PIDF scheme, commit region-wise deployment targets, submit deployment statistics and claim subsidy for devices which fulfil the prescribed criteria.

On Wednesday, the RBI announced that to give further impetus to deployment of payment acceptance touchpoints, the PIDF scheme is being modified by enhancing the subsidy amount and simplifying the subsidy claim process.

This will further accelerate the deployment of payment acceptance touchpoints across the country, with special focus on rural areas.

All eligible installations since the inception of the scheme may prefer claims under the revised scheme, the central bank had said.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/06/RBI-1.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:144:"Besides, 1,14,05,116 digital devices, including inter-operable QR code-based payments such as UPI QR, Bharat QR, were deployed under the scheme.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/06/RBI-1-300x200.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"200";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:27;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:78:"RBI to soon come out with regulatory architecture on digital lending platforms";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:145:"https://www.financialexpress.com/industry/banking-finance/rbi-to-soon-come-out-with-regulatory-architecture-on-digital-lending-platforms/2554305/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Thu, 09 Jun 2022 16:04:58 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:3:"RBI";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:21:"Reserve Bank of India";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:145:"https://www.financialexpress.com/industry/banking-finance/rbi-to-soon-come-out-with-regulatory-architecture-on-digital-lending-platforms/2554305/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:145:"Das on Wednesday suggested that customers borrowing from unregistered digital lending apps should approach the local police in case of any issue.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Subham Mitra";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-09T16:05:01+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:2291:"
The Reserve Bank of India will soon come out with regulatory architecture for digital lending platforms, many of which are unauthorised and illegal, Governor Shaktikanta Das said on Thursday.

There have been increasing cases of alleged suicides of borrowers due to harassment by a few of the operators of digital lending apps.

&#8220;I think very soon we will be coming out with a broad regulatory architecture, which should be able to address the challenges that we are confronted with regard to lending through digital platforms, many of which are unauthorised, unregistered and, should I say, illegal,&#8221; Das said while delivering a lecture on &#8211; Indian Businesses (Past, Present and Future).

He was speaking at the Iconic Week celebration as part of the &#8216;Azadi Ka Amrit Mahotsav&#8217; to mark the 75th anniversary of Independence, organised by the Central Board of Indirect Taxes and Customs (CBIC).

Das on Wednesday suggested that customers borrowing from unregistered digital lending apps should approach the local police in case of any issue.

Most of the digital lending apps are not registered with the central bank and operate by themselves, he told reporters after announcing the monetary policy.

Das said whenever it gets a complaint from any customer, the central bank directs customers of such unregistered apps to approach the local police, which will conduct an investigation and take necessary action on the issue &#8220;It is my humble request to all those using such apps to first check if the app is RBI registered or not. If the app is RBI registered, the central bank will act immediately in case of any misdoing, I assure you,&#8221; he had said.

The governor on Thursday said the RBI does recognise the role of existing as well as emerging businesses for economic progress.

The long-term success of any business is directly linked to its quality of governance, internal control systems and the robustness of its risk and the organisational culture, he noted.

The central bank has been pushing for improvements in the governance and compliance culture of its regulated entities like banks, NBFCs and other financial entities through a series of measures, Das said.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:70:"https://www.financialexpress.com/wp-content/uploads/2022/06/RBI-02.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:141:"There have been increasing cases of alleged suicides of borrowers due to harassment by a few of the operators of digital lending apps. (File)";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:78:"https://www.financialexpress.com/wp-content/uploads/2022/06/RBI-02-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:28;a:6:{s:4:"data";s:20:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:58:"NBFCs may face NIM pressure as borrowing costs set to soar";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:125:"https://www.financialexpress.com/industry/banking-finance/nbfcs-may-face-nim-pressure-as-borrowing-costs-set-to-soar/2553743/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Thu, 09 Jun 2022 09:39:01 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:1:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:125:"https://www.financialexpress.com/industry/banking-finance/nbfcs-may-face-nim-pressure-as-borrowing-costs-set-to-soar/2553743/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:149:"Despite the rise in borrowing costs, NBFCs are optimistic that loan growth will remain robust, led by revival of demand in both rural and urban areas";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:5:"guest";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-09T09:40:37+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:2463:"
By Shashank Didmishe

Non-banking financial companies (NBFCs) will face higher borrowing costs with the central bank hiking key policy rates after two years to combat inflation.

With interest rates increasing, the net interest margins (NIMs) of NBFCs could come under pressure, Krishnan Sitaraman, senior director &amp; deputy chief ratings officer at Crisil, said. “However, in many of the segments, they will be able to pass on a reasonable amount of the interest rate increase to their customers. At the same time, in certain segments like new car loans, where there is direct competition from banks for them, they may find it difficult to pass on the increase in cost of borrowing, hence market share for them will likely decline in these segments,” he said.

The trend on NIMs has been mixed for NBFCs in Q4FY22. While the margins were up for affordable housing companies on a sequential basis in Q4FY22, major NBFCs experienced NIM compression, according to data compiled by Kotak Institutional Equities. NBFCs have been guided to absorb first part of the rise in funding costs as current NIMs are higher than their long-term averages, the brokerage said.

Despite the rise in borrowing costs, NBFCs are optimistic that loan growth will remain robust, led by revival of demand in both rural and urban areas.

There will continue to be some challenges, but a pickup in new vehicle sales is expected as investment activities and government capex spend in the economy increase while used vehicle demand continues to be robust, said Umesh Revankar, vice-chairman &amp; MD of Shriram Transport Finance.

Similarly, Muthoot Finance MD George Alexander Muthoot expects government push on capex to bolster domestic economic activity. “We are optimistic that with the pickup in both urban and rural demands, there will be a pickup in demand for gold loans in the industry in the upcoming quarters,” he said.

Although some NBFCs will be able to pass on the higher costs to their customers, they will also employ other means such as rapid digitisation to improve operational efficiencies and tie-ups with banks in order to bring down costs, Sitaraman of Crisil said.

“They will also be attempting to reduce credit costs given the increased provisioning taken by them in the last two fiscals. These measures should help support their profitability levels,” he said.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:78:"https://www.financialexpress.com/wp-content/uploads/2022/06/currency-notes.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:52:"The trend on NIMs has been mixed for NBFCs in Q4FY22";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:86:"https://www.financialexpress.com/wp-content/uploads/2022/06/currency-notes-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:29;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:68:"Public-sector banks to firm up 3-year road maps under new initiative";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:135:"https://www.financialexpress.com/industry/banking-finance/public-sector-banks-to-firm-up-3-year-road-maps-under-new-initiative/2553515/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Thu, 09 Jun 2022 06:15:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:4:"PSBs";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:135:"https://www.financialexpress.com/industry/banking-finance/public-sector-banks-to-firm-up-3-year-road-maps-under-new-initiative/2553515/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:249:"EASENext, the latest and revamped version of the EASE (Enhanced Access and Service Excellence) reform programme for PSBs, will have two components: EASE 5.0, which is a common reforms agenda for all PSBs, and a bank-specific medium-term action plan.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Anish Mondal";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-09T06:15:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:1650:"
Each public-sector bank will have to firm up a three-year road map based on its business priorities under a revamped reform initiative launched by finance minister Nirmala Sitharaman on Wednesday.

EASENext, the latest and revamped version of the EASE (Enhanced Access and Service Excellence) reform programme for PSBs, will have two components: EASE 5.0, which is a common reforms agenda for all PSBs, and a bank-specific medium-term action plan.

Under the EASE 5.0, state-run banks will continue to invest in new-age capabilities and deepen the on-going reforms to respond to evolving customer needs, changing competition and the technology environment, the Indian Banks’ Association, which has been spearheading this initiative, said in a statement. It will also step up focus on digital customer experience, and integrated and inclusive banking, with emphasis on supporting small businesses and agriculture.

At the same time, all PSBs will also create a bank-specific 3-year strategic road map. This will entail strategic initiatives beyond EASE 5.0. The initiatives will be across diverse themes, including business growth, profitability, risk, customer service, operations, and capability building.

In a virtual address, Sitharaman called on banks to focus on customer-first strategy and employee development. PSBs must better engage with customers to understand their needs and expectations.&nbsp;&nbsp;

Financial services secretary Sanjay Malhotra called on PSBs, all of which turned profitable in FY22, to use their improved balance sheets to substantially enhance their competitiveness.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-186.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-186-300x166.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"166";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:30;a:6:{s:4:"data";s:23:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:54:"Linking credit cards to UPI to drive higher acceptance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:121:"https://www.financialexpress.com/industry/banking-finance/linking-credit-cards-to-upi-to-drive-higher-acceptance/2553471/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Thu, 09 Jun 2022 02:45:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:4:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:14:"banking sector";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:3;a:5:{s:4:"data";s:3:"UPI";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:121:"https://www.financialexpress.com/industry/banking-finance/linking-credit-cards-to-upi-to-drive-higher-acceptance/2553471/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:214:"While the linking of the unified payments interface (UPI) with RuPay credit cards is seen as an advantage by major stakeholders, more clarity will be needed on some of the operational aspects, industry people said.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:17:"Subhajit Dasgupta";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-09T02:45:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:2829:"
The Reserve Bank of India said it will allow linking of credit cards to the UPI platforms. In the initial stage, only the RuPay credit cards will be linked to the UPI platform, the central bank said. The move will increase the acceptance infrastructure of credit cards as merchants can accept credit cards using UPI.

While the linking of the unified payments interface (UPI) with RuPay credit cards is seen as an advantage by major stakeholders, more clarity will be needed on some of the operational aspects, industry people said.

While the merchant discount rate (MDR) is levied by banks on merchants for card transactions on point-of-sale machines, MDR charges on UPI transactions is waived off. “Pricing is something that is not yet known. How will MDR pan out, how they will be able to charge are yet to be cleared out,” Dewang Neralla, CEO of NTT DATA Payment Services India, a payments aggregator, said. Clarity from the regulator on the issue of MDR is very important for the whole payments ecosystem, he added.

According to Aashay Choksey, assistant vice president – financial sector ratings, ICRA, the move can lead to a shift to credit cards, which, in turn, could drive higher card utilisation level and increase in spends per card for banks that operate a higher share of RuPay cards.

However, as RuPay-issued credit cards are still gaining market share, the overall credit outstanding against credit cards, which stood at around Rs 1.5 trillion as on April 22, is unlikely to grow materially in near term unless the enhancement in UPI linking is extended to other card platform operators as well,” he said.

Since more clarity is needed on the subject, it is not possible to comment on the issue, a spokesperson for a bank said. An e-mail sent to Bank of India did not evoke a response. “This is a welcome move, which will facilitate customers to gain the best of both worlds – payments and credit. This is expected to bolster spends in economy and is a very forward-looking step to improve the fiscal economy,” Shailendra Singh, MD &amp; CEO of BOB Financial Solutions, said.

The move is aimed at providing additional convenience to users and enhance the scope of digital payments, the RBI said. “UPI has already proven its utility by its widespread adoption, and bringing the same convenience to access credit can be a watershed moment for credit penetration in India. Today, UPI is practically omnipresent, and I do not doubt that UPI-enabled credit cards will foster the next phase of credit-backed growth,” Gaurav Chopra, CEO of online credit marketplace platform IndiaLends, said.

UPI transactions have hit record highs in May as the platform doubled the transactions value to the tune of Rs 10 trillion during the month.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:67:"https://www.financialexpress.com/wp-content/uploads/2022/05/upi.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:141:"UPI transactions have hit record highs in May as the platform doubled the transactions value to the tune of Rs 10 trillion during the month. ";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:75:"https://www.financialexpress.com/wp-content/uploads/2022/05/upi-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:31;a:6:{s:4:"data";s:23:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:53:"Yes Bank begins process to exit reconstruction scheme";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:120:"https://www.financialexpress.com/industry/banking-finance/yes-bank-begins-process-to-exit-reconstruction-scheme/2553449/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Thu, 09 Jun 2022 01:45:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:4:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:14:"banking sector";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:3;a:5:{s:4:"data";s:8:"Yes Bank";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:120:"https://www.financialexpress.com/industry/banking-finance/yes-bank-begins-process-to-exit-reconstruction-scheme/2553449/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:114:"The process was started on the recommendation from State Bank of India (SBI), the largest shareholder in Yes Bank.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:17:"Subhajit Dasgupta";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-09T01:45:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:2282:"
Yes Bank on Wednesday said that it has initiated the process to form a new board as it exits from the reconstruction scheme devised for the rescue of the bank in 2020. The proposal for the constitution of a new board will be placed before the bank’s shareholders at its 18th annual general meeting (AGM) on July 15.

The process was started on the recommendation from State Bank of India (SBI), the largest shareholder in Yes Bank. SBI has proposed that MD &amp; CEO Prashant Kumar continue in his position for another three years, along with the names of eight new appointees to the board.

Sunil Mehta, chairman, Yes Bank, said that by initiating the process of formation of the alternate board, Yes Bank has accomplished a significant milestone of coming out of the reconstruction scheme. “On behalf of the board, I assure all our stakeholders that the bank has built a strong ethos of integrity, trust and transparency which shall remain uncompromised. The bank now is fully ready to achieve its long term growth trajectory under the direction of the alternate board being formed,” Mehta said.

Apart from Mehta and chief executive Prashant Kumar, Yes Bank’s board is comprised of independent directors Mahesh Krishnamurti and Atul Bheda, the Reserve Bank of India’s (RBI) appointee directors R Gandhi and Ananth Narayan, and SBI nominee directors V S Radhakrishnan and Ravindra Pandey. Mehta, Krishnamurti and Bheda shall demit office with the formation of the new board. The terms of Gandhi and Narayan are valid up to March 23, 2023 or till further orders from the regulator.

Yes Bank returned to the black in FY22, posting a full-year profit of Rs 1,066 crore after two years of losses in FY20 and FY21. During the year, the lender’s loan book grew by 9%, with gross disbursements of Rs 70,000 crore. The deposit book grew 88% between FY20 and FY22 to Rs 1.97 trillion.

In March 2020, the RBI had superceded Yes Bank’s board amid fears that the bank’s capital levels would dip below regulatory requirements. SBI and other major financial institutions had infused capital into the bank under its reconstruction scheme, on the condition that they would lock in at least 25% of their investment for three years.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/05/1-881.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:129:"Yes Bank returned to the black in FY22, posting a full-year profit of Rs 1,066 crore after two years of losses in FY20 and FY21. ";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/05/1-881-300x166.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"166";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:32;a:6:{s:4:"data";s:23:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:64:"Public sector bank employees threaten to go on strike on June 27";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:131:"https://www.financialexpress.com/industry/banking-finance/public-sector-bank-employees-threaten-to-go-on-strike-on-june-27/2553349/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Wed, 08 Jun 2022 20:46:45 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:4:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:14:"banking sector";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:3;a:5:{s:4:"data";s:4:"PSBs";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:131:"https://www.financialexpress.com/industry/banking-finance/public-sector-bank-employees-threaten-to-go-on-strike-on-june-27/2553349/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:253:"The United Forum of Bank Union (UFBU), an umbrella body of nine bank unions including All India Bank Officers' Confederation (AIBOC), All India Bank Employees Association (AIBEA) and National Organisation of Bank Workers (NOBW), decided to go on strike.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Anish Mondal";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-08T20:47:16+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:989:"
Employees of public sector banks on Wednesday threatened to go on strike on June 27 to press for issues related to pension and the demand for five-days-a-week work.

The United Forum of Bank Union (UFBU), an umbrella body of nine bank unions including All India Bank Officers&#8217; Confederation (AIBOC), All India Bank Employees Association (AIBEA) and National Organisation of Bank Workers (NOBW), decided to go on strike.

Their demands included updation and revision of pension for all pensioners and doing away with the national pension scheme and restore old pension scheme for all bank employees, AIBEA general secretary C H Venkatachalam said after the meeting of UFBU.

AIBOC General Secretary Soumya Dutta said that about 7 lakh workers across the country would participate in the strike, if the government and management of banks are insensitive to the unions&#8217; demands.

Banking operation may be impacted if the strike materalises.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-180.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:251:"Their demands included updation and revision of pension for all pensioners and doing away with the national pension scheme and restore old pension scheme for all bank employees, AIBEA general secretary C H Venkatachalam said after the meeting of UFBU.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-180-300x166.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"166";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:33;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:47:"Yes Bank begins process to form alternate board";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:114:"https://www.financialexpress.com/industry/banking-finance/yes-bank-begins-process-to-form-alternate-board/2552554/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Wed, 08 Jun 2022 17:20:52 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:8:"Yes Bank";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:114:"https://www.financialexpress.com/industry/banking-finance/yes-bank-begins-process-to-form-alternate-board/2552554/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:159:"The existing board of the bank has four directors, including MD &#038; CEO Prashant Kumar and chairman Sunil Mehta, besides Mahesh Krishnamuti and Atul Bheda.
";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Anish Mondal";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-08T17:21:19+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:5452:"
Returning to profit in FY22 after witnessing heavy losses for two consecutive years, Yes Bank has kicked off the process of forming an alternate board as it has come out of the reconstruction scheme.

The central government had notified the Yes Bank Reconstruction Scheme on March 13, 2020 after the private lender faced governance crisis triggered by mismanagement at top level.

The reconstruction scheme helped the bank in achieving significant progress in record time and the turnaround with FY22 as the full year profit for the bank at Rs 1,066 crore. The bank posted heavy losses in FY20 and FY21.

On the basis of the recommendation received from SBI &#8212; the largest shareholder of the bank &#8212; the board has now initiated the process of forming the alternate board, Yes Bank said in a regulatory filing on Wednesday.

&#8220;As a first step, the board has recommended to the shareholders the appointment of directors as recommended by SBI on the alternate board. The shareholders&#8217; meeting (annual general meeting) is scheduled on Friday, July 15, 2022 to consider the relevant resolutions,&#8221; it said.

Since the implementation of the reconstruction scheme, the bank undertook multiple transformational initiatives that helped in resurrecting and rebuilding its foundation. The bank now remains on course to achieve its growth and profitability objective, the private sector lender said. Yes Bank said the alternate board will operate under the applicable laws and regulations as against the current board which was constituted and is functioning under the ambit of the reconstruction scheme.

The nine-member board to be formed would comprise current MD &amp; CEO Prashant Kumar, Atul Malik, Rekha Murthy, Sharad Sharma, Nandita Gurjar, Sanjay Kumar Khemani, Sadashiv Srinivas Rao, T Keshav Kumar and Sandeep Tewari.

The existing board of the bank has four directors, including MD &amp; CEO Prashant Kumar and chairman Sunil Mehta, besides Mahesh Krishnamuti and Atul Bheda. Also, it has two SBI nominee directors (officers of SBI) and two RBI-appointed additional directors. The term of two additional directors &#8212; R Gandhi and Ananth Narayan Gopalakrishnan &#8212; appointed by RBI is valid up to March 23, 2023 or till further orders, whichever is earlier.

Sunil Mehta, Chairman, Mahesh Krishnamurti and Atul Bheda – board members appointed under the notification of the reconstruction scheme, will hand over the charge to the alternate board having overseen the significant turnaround of the bank in record time and having achieved the primary purpose for which they were mandated under the Yes Bank Reconstruction Scheme, 2020, Yes Bank said.

&#8220;The bank&#8217;s largest shareholder State Bank of India has proposed Prashant Kumar&#8217;s candidature for the position of MD &amp; CEO of the bank for a period of three years, which will be subject to approval of the alternate board, Reserve Bank of India and the shareholders,&#8221; it added. The bank had to be bailed out in March 2020 after a prompt intervention by the government and RBI, wherein a number of peer banks stepped in to infuse capital in Yes Bank in lieu of stakeholding.

Prashant Kumar from SBI was appointed as the administrator under the watch of RBI and later positioned as the MD &amp; CEO. Yes Bank said it achieved key milestones since the implementation of the reconstruction scheme, including a full year profit in FY22; nearly doubling of deposit book from Rs 1.05 lakh crore to Rs 1.97 lakh crore (March 2022), increase in retail/MSME share in the balance sheet to 60 per cent from 44 per cent and reaching a CASA of over 30 per cent.

It also raised Rs 15,000 crore equity capital in July 2020 through one of the largest public issues and improved the CET1 ratio to 11.6 per cent from 6.3 per cent.

Yes Bank said the focus has moved from consolidation of the balance sheet to growth. In FY22, the bank&#8217;s loan book grew by nearly 9 per cent with gross disbursements of about Rs 70,000 crore across all segments.

&#8220;Bank has undertaken multiple initiatives to review and make necessary changes to its governance frameworks and processes with a key focus on the credit underwriting policies and practices,&#8221; it said.

It maintained leadership in digital payments with highest market share in UPI as one of every third digital transaction is processed by Yes Bank infrastructure. &#8220;Yes Bank today accomplishes a significant milestone of coming out of the reconstruction scheme by initiating the process of formation of the alternate Board,&#8221; Mehta, chairman of the board, said.

He complimented his colleagues on the board, the Reserve Bank of India, the government of India, State Bank of India and all other investors as well as bank&#8217;s customers and the 24,000-plus highly dedicated employees of the bank for the historic turnaround of one of the largest private sector banks of this country. &#8220;It has been a fascinating experience and truly a privilege to lead the board during this very difficult period and achieve very distinct milestones over the course of more than two years. My special gratitude to Mahesh Krishnamurti and Atul Bheda who will be demitting office along with me on formation of the alternate board,&#8221; Mehta said.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-158.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:276:""The bank's largest shareholder State Bank of India has proposed Prashant Kumar's candidature for the position of MD & CEO of the bank for a period of three years, which will be subject to approval of the alternate board, Reserve Bank of India and the shareholders," it added.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-158-300x166.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"166";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:34;a:6:{s:4:"data";s:24:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:50:"PNB to focus on retail, MSMEs to drive loan growth";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:116:"https://www.financialexpress.com/industry/banking-finance/pnb-to-focus-on-retail-msmes-to-drive-loan-growth/2552087/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Wed, 08 Jun 2022 03:30:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:5:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:7:"Banking";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:3;a:5:{s:4:"data";s:14:"banking sector";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:4;a:5:{s:4:"data";s:3:"PNB";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:116:"https://www.financialexpress.com/industry/banking-finance/pnb-to-focus-on-retail-msmes-to-drive-loan-growth/2552087/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:184:"The bank is planning to strengthen the PNB ONE app by offering digital lending, marketplace features, lifestyle offerings and wealth management services by revamping existing features.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:17:"Subhajit Dasgupta";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-08T03:30:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:1785:"
Punjab National Bank will focus on improving credit offtake in its retail and MSME segments as it expects these sectors to drive the loan growth in the current financial year.

First of all, the bank will keep its focus on diversified credit growth as it is expected that the huge demand will erupt from the MSME and retail segments in FY23. With the expected pick-up in the credit growth, interest income may also see an uptick,” the bank said in its annual report for FY22.

The bank’s retail credit grew 6.7% year-on-year to Rs 1.3 trillion in Q4FY22 while MSME advances rose 1% to Rs 1.2 trillion.

The bank will also focus on improving its current account, savings account (CASA) ratio for higher profitability. It is planning to scale up collaborations and partnerships for better results. Domestic CASA share improved by 195 bps on year to 47.43% in Q4FY22.

Asset quality will continue to be the buzzword for us and the bank will take up action-oriented plans to keep NPAs low so that capital remains available for business growth,” PNB said. The bank will lay stress on credit monitoring through proactive steps on the basis of various early warning signals and address the stress upfront.

As on March 31, 2022, the gross NPA ratio improved by 234 bps to 11.78% while the net NPA ratio improved by 93 bps and stood at 4.80%.

The bank is planning to strengthen the PNB ONE app by offering digital lending, marketplace features, lifestyle offerings and wealth management services by revamping existing features.

The bank will also make efforts towards profit maximisation through increase in non-fund-based business and income from third party products and will rationalise branches and ATMs to cut costs.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:82:"https://www.financialexpress.com/wp-content/uploads/2022/02/PunjabNationalBank.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:90:"https://www.financialexpress.com/wp-content/uploads/2022/02/PunjabNationalBank-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:35;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:40:"PSBs to conduct massive loan drive today";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:107:"https://www.financialexpress.com/industry/banking-finance/psbs-to-conduct-massive-loan-drive-today/2552060/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Wed, 08 Jun 2022 02:20:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:14:"banking sector";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:107:"https://www.financialexpress.com/industry/banking-finance/psbs-to-conduct-massive-loan-drive-today/2552060/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:223:"In October 2021, public-sector banks (PSBs) were directed to launch a similar outreach programme for a longer period in the build-up to Diwali to take advantage of a potential rise in credit demand during the festive season";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:17:"Subhajit Dasgupta";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-08T02:20:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:2295:"
State-run banks will conduct a massive credit outreach programme in all districts of the country on Wednesday and will enrol customers for various official schemes, especially in insurance.

The outreach programme is curated as part of a week-long celebration of the finance and corporate affairs ministry under the so-called Azadi Ka Amrit Mahotsav. It is also a part of the government’s efforts to ensure greater and easier credit flow, as the economy recovers from the damage caused by the pandemic.

In October 2021, public-sector banks (PSBs) were directed to launch a similar outreach programme for a longer period in the build-up to Diwali to take advantage of a potential rise in credit demand during the festive season. Banks had sanctioned loans of Rs 63,574 crore through the outreach drive between October 16 and 31 last year. Similarly, lenders had disbursed credit of as much as Rs 4.94 trillion through similar outreach programmes between October 2019 and March 2021.

Having remained subdued over most part of the last two years, credit growth has improved in recent months, and the government wants this momentum to accelerate further. Non-food bank credit grew 11.3% on year in April, compared with 9.7% in the previous month and 4.7% a year before. However, loans to industry grew at a slower pace of 8.1% even on a marginally-contracted base.

The finance ministry said on Tuesday that all state level bankers’ committees (SLBCs) have been asked to conduct the both the loan outreach programme and the enrolment for schemes like the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradahan Mantri Suraksha Bima Yojana (PMSBY) and Atal Pension Yojana. They will also seek to enhance customer awareness and financial literacy, while recognising the good work done by the branches, the ministry said.

The PMJJBY is a universal social security system, especially for the poor, while the PMSBY provides cover for death/disability due to accident. The government recently hiked the premium for the PMJJBY and the PMSBY by 32% and 67%, respectively, in a bid to make them economically viable. However, despite the increase, the premiums for the PMJJBY and the PMSBY still stand at just Rs 436 and Rs 20, respectively, per year.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:70:"https://www.financialexpress.com/wp-content/uploads/2022/04/bank-1.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:109:"Banks had sanctioned loans of Rs 63,574 crore through the outreach drive between October 16 and 31 last year.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:78:"https://www.financialexpress.com/wp-content/uploads/2022/04/bank-1-300x166.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"166";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:36;a:6:{s:4:"data";s:21:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:54:"HDFC Bank hikes lending rates by 35 bps across tenures";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:121:"https://www.financialexpress.com/industry/banking-finance/hdfc-bank-hikes-lending-rates-by-35-bps-across-tenures/2551842/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Wed, 08 Jun 2022 00:30:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:2:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:121:"https://www.financialexpress.com/industry/banking-finance/hdfc-bank-hikes-lending-rates-by-35-bps-across-tenures/2551842/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:136:"PNB, ICICI Bank and Housing Development Finance Corporation (HDFC) went for a fresh round of hikes in lending rates in the previous week";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:17:"Subhajit Dasgupta";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-08T00:30:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:1685:"
HDFC Bank has hiked its marginal cost of funds-based lending rates (MCLRs) by 35 basis points (bps) across tenures. The new rates come into effect on Tuesday.

MCLRs on loans from India’s largest private lender will now range between 7.5% and 8.05%. The one-year MCLR at HDFC Bank stands at 7.85%, against State Bank of India (SBI)&#8217;s 7.2% and Punjab National Bank (PNB)&#8217;s 7.4%.

PNB, ICICI Bank and Housing Development Finance Corporation (HDFC) went for a fresh round of hikes in lending rates in the previous week. Most lenders raised rates after the monetary policy committee (MPC) had hiked the repo rate by 40 bps on May 4.

The MPC’s June meeting is being held this week, with the policy statement coming on Wednesday. Markets expect the repo rate to be hiked by another 25-50 bps in the ongoing policy meeting. A fresh hike will result in an immediate re-pricing of external benchmark-linked loans given to retail and micro, small and medium enterprises (MSME) borrowers, as well as some corporates.

Some analysts are of the view that the regime of rising interest rates could affect some borrowers’ ability to pay. In a report dated June 1, India Ratings &amp; Research said the sensitivity of the interest rate over aggregate demand has increased in a meaningful way. “Therefore, a faster and higher transmission of interest rate could become onerous for a section of borrowers. The situation will aggravate if real income does not improve,” the report said.

Banks are for now happy with the policy rate hike as it has boosted their pricing power, which had come under pressure during the last two years.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/06/HDFCBank-REUT.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:113:"The MPC’s June meeting is being held this week, with the policy statement coming on Wednesday. (Image: REUTERS)";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:85:"https://www.financialexpress.com/wp-content/uploads/2022/06/HDFCBank-REUT-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:37;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:50:"Bank credit grows by 11.04 pc; deposits by 9.27 pc";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:115:"https://www.financialexpress.com/industry/banking-finance/bank-credit-grows-by-11-04-pc-deposits-by-927-pc/2551967/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Tue, 07 Jun 2022 20:18:27 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:14:"banking sector";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:115:"https://www.financialexpress.com/industry/banking-finance/bank-credit-grows-by-11-04-pc-deposits-by-927-pc/2551967/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:205:"In the fortnight ended May 21, 2021, bank advances stood at Rs 108.31 lakh crore and deposits at Rs 151.67 lakh crore, according to the 'Scheduled Banks' Statement of Position in India as on May 20, 2022'.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Anish Mondal";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-07T20:18:35+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:608:"
Bank credit grew by 11.04 per cent to Rs 120.27 lakh crore and deposits by 9.27 per cent to Rs 165.74 lakh crore in the fortnight ended May 20, RBI data showed on Tuesday.

In the fortnight ended May 21, 2021, bank advances stood at Rs 108.31 lakh crore and deposits at Rs 151.67 lakh crore, according to the &#8216;Scheduled Banks&#8217; Statement of Position in India as on May 20, 2022&#8242;.

In the previous fortnight ended May 6, bank credit grew by 10.82 per cent and deposits at 9.71 per cent. In FY 2021-22, bank credit rose by 8.59 per cent and deposit by 8.94 per cent.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-144.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:151:"A notice under Section 131 is received when the Assessing Officer has reason to suspect that any income has been concealed or is likely to be concealed";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-144-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:38;a:6:{s:4:"data";s:20:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:67:"Collection efficiency for NBFCs, HFCs at 97-101 pc in April: Report";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:132:"https://www.financialexpress.com/industry/banking-finance/collection-efficiency-for-nbfcs-hfcs-at-97-101-pc-in-april-report/2551644/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Tue, 07 Jun 2022 17:02:33 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:1:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:132:"https://www.financialexpress.com/industry/banking-finance/collection-efficiency-for-nbfcs-hfcs-at-97-101-pc-in-april-report/2551644/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:140:"The analysis is based on Icra-rated retail pools securitised by non-banking finance companies (NBFCs) and housing finance companies (HFCs). ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:14:"Shriparna Saha";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-07T17:04:03+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:3674:"
The collection efficiency of non-banking finance companies and housing finance companies was in the healthy range of 97-101 per cent in April, according to a report. The collections had seen a modest decline of about 3 per cent following the third wave of infections in January 2022, but the recovery was prompt, given the lower severity of the COVID variant and limited restrictions on movements during this period, Icra Rating said in a report on Tuesday.

The analysis is based on Icra-rated retail pools securitised by non-banking finance companies (NBFCs) and housing finance companies (HFCs). Securitisation refers to the pooling of cash-flow-producing assets (such as mortgages, loans, and bonds) and subsequent issuance of securities in the capital markets backed by these collateral pools.

&#8220;The collection efficiency for NBFCs and HFCs has been healthy in the range of 97-101 per cent at the beginning of FY2023,&#8221; the report said.

Healthy collection efficiency was witnessed in its rated securitised pools for April which is expected to have remained strong in May, it added.

With business activities close to pre-Covid levels for most sectors coupled with a heavy focus on collections by the NBFCs and HFCs, the concern on collection efficiency, at least from the non-restructured portfolio of the financiers, has reduced, the agency said.

Further, tightening of pool selection criteria by the investors for securitised pools and strengthening of prevailing credit appraisal processes and parameters by the lenders following the emergence of COVID also had a positive bearing on the overall collection efficiency, it said.

The agency&#8217;s Vice President and Group Head (Structured Finance Ratings) Abhishek Dafria said the collection efficiency is expected to remain largely stable this fiscal, as long as we do not see any fresh COVID wave that results in lockdowns by the governments.

Any rise in infections for shorter periods of time would still not cause much concern, considering the approach followed by state governments during the second and third waves where the lockdowns were more localised and initiated only if necessary.

The performance of secured asset classes, especially mortgage-backed loans, has been stronger than the unsecured asset classes during the COVID period. For instance, housing loan pools witnessed a marginal decline of about 2-3 per cent in collection efficiency due to the onset of the third wave but reached 100 per cent in March 2022 itself, Dafria said.

The unsecured loan segment, such as microfinance loans, SME loans or personal loans, had seen the sharpest decline in collections during the first and second COVID waves, the report said. However, the uninterrupted business environment seen over the past 9-10 months has improved the repayment capability of such borrowers as their income-generating ability has increased.

&#8220;As a result, there has been a material improvement in the collection efficiency for such unsecured asset classes during this period,&#8221; it said.

The agency&#8217;s Vice President and Co-Group Head (Structured Finance Ratings) Samriddhi Chowdhary said the 90+ delinquencies have seen a material decline of 2-3 per cent for microfinance and unsecured SME pools from the peaks seen in Q1/Q2 FY2022.

The collection efficiency bounced to healthy levels of 97 per cent for Icra-rated microfinance pools and 98 per cent for Icra-rated SME pools in April 2022, she said. The collections are expected to remain strong for the entire first quarter of FY2023, she added";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:83:"https://www.financialexpress.com/wp-content/uploads/2022/06/NBFC1200-620x400-1.jpeg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:138:"The analysis is based on Icra-rated retail pools securitised by non-banking finance companies (NBFCs) and housing finance companies (HFCs)";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:91:"https://www.financialexpress.com/wp-content/uploads/2022/06/NBFC1200-620x400-1-300x167.jpeg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:39;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:73:"HDFC Chairman Deepak Parekh urges shareholders to lend support for merger";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:140:"https://www.financialexpress.com/industry/banking-finance/hdfc-chairman-deepak-parekh-urges-shareholders-to-lend-support-for-merger/2551353/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Tue, 07 Jun 2022 14:14:19 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:7:"Banking";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:9:"HDFC Bank";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:140:"https://www.financialexpress.com/industry/banking-finance/hdfc-chairman-deepak-parekh-urges-shareholders-to-lend-support-for-merger/2551353/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:95:"The merger will increase the lending capacity of the group and is also expected to lower costs.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:14:"Sakshi Kuchroo";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-07T14:14:23+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:2986:"
While the regulatory approvals for the merger of Housing Development Finance Corporation Ltd (HDFC) and HDFC Bank are awaited, HDFC Chairman Deepak Parekh on Tuesday said that the support and trust of the shareholders is needed “more than ever before”.

“My only ask of our stakeholders is for your patience as we navigate through the complexities of this transaction. More than ever before, we need your trust and support,” Parekh said in a letter to the shareholders of HDFC during its 45th Annual General Meeting.

Stressing that trust is the foundation of a successful merger, financial and human capital along with a proper communication strategy is critical, he said.

“Fortunately, between HDFC and HDFC Bank, there is a natural affinity…It remains our every endeavour to be available and accessible to all our stakeholders to assuage concerns in an open and transparent manner,” Parekh said.

The proposed merger is awaiting regulatory approval at this stage. Other than the Reserve Bank of India (RBI), the merger will have to be approved by Securities and Exchange Board of India, National Housing Board, Competition Commission of India (CCI), Insurance Regulatory and Development Authority of India (IRDAI), Pension Fund Regulatory and Development Authority (PFRDA) and National Company Law Tribunal (NCLT).&nbsp;&nbsp;

“We remain respectful of all our regulators and are confident that the outcome will be judicious and fair at a systemic level,” Parekh said.

The merger will increase the lending capacity of the group and is also expected to lower costs.

“We have at length, already articulated the rationale for the proposed merger, which takes cognisance of the future growth potential of the country, the evolving macro environment and changes in the regulatory architecture,” he said.

HDFC Group in April had announced merger of HDFC into HDFC Bank, along with two other entities HDFC Investments Ltd and HDFC Holdings Ltd. As per the scheme, HDFC Investments and HDFC Holdings will be first merged into HDFC, following which a merger of HDFC will take place into HDFC Bank.

On growth in demand for home loans in the country, Parekh remains optimistic despite the recent global headwinds.&nbsp; Rising income levels, improved affordability and fiscal support augurs well for the demand for homes. Real estate sector in India is on an upcycle and developers are now financially stronger and more disciplined, he added.

Parekh estimates the home loan market in India at around $300 billion, which is likely to double in the next five years. Even if the demand for home loans doubles, the mortgage penetration will remain on the low at 13% of the gross domestic products (GDP) compared to 20 to 30% of other Asian economies.

“This implies that housing loans in India will have an exponential growth trajectory for decades to come,” he said.  ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:73:"https://www.financialexpress.com/wp-content/uploads/2022/06/HDFC-Bank.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:66:"The proposed merger is awaiting regulatory approval at this stage.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:81:"https://www.financialexpress.com/wp-content/uploads/2022/06/HDFC-Bank-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:40;a:6:{s:4:"data";s:23:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:111:"HDFC Bank hikes lending rates, loans from India’s largest private lender to cost this much now across tenures";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:174:"https://www.financialexpress.com/industry/banking-finance/hdfc-bank-hikes-lending-rates-loans-from-indias-largest-private-lender-to-cost-this-much-now-across-tenures/2551073/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Tue, 07 Jun 2022 11:08:49 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:4:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:9:"HDFC Bank";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:13:"interest rate";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:3;a:5:{s:4:"data";s:3:"RBI";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:174:"https://www.financialexpress.com/industry/banking-finance/hdfc-bank-hikes-lending-rates-loans-from-indias-largest-private-lender-to-cost-this-much-now-across-tenures/2551073/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:191:"HDFC Bank has hiked its marginal cost of funds-based lending rates (MCLRs) by 35 basis points across tenures, even as the market awaits another imminent RBI policy rate hike later this week. ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:16:"Kshitij Bhargava";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-07T11:11:32+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:1739:"
HDFC Bank has hiked its marginal cost of funds-based lending rates (MCLRs) by 35 basis points across tenures, even as the market awaits another imminent RBI policy rate hike later this week. The new rates will be effective from today (Tuesday, 7 June 2022). MCLRs on loans from India’s largest private lender will now range between 7.5% and 8.05%. The one-year MCLR at HDFC Bank stands at 7.85%, as against SBI’s 7.2% and PNB’s 7.4%.

Punjab National Bank, ICICI Bank and Housing Development Finance Corporation (HDFC) went for a fresh round of hikes in lending rates last week. Most lenders had raised rates after the monetary policy committee (MPC) hiked the repo rate by 40 bps on May 4.

The MPC’s June meeting is being held this week, with the policy statement expected on Wednesday. Markets expect the repo rate to be hiked by another 25-50 bps in the ongoing policy meeting. A fresh repo rate hike will result in an immediate repricing of external benchmark-linked loans given to retail and micro, small and medium enterprises (MSME) borrowers, as well as some corporates.

Some analysts are of the view that the regime of rising interest rates could affect some borrowers’ ability to pay. In a report dated June 1, India Ratings &amp; Research said that the sensitivity of interest rate over aggregate demand has increased in a meaningful way. “Therefore, a faster and higher transmission of interest rate could become onerous for a section of the borrowers. The situation will aggravate if real income does not improve,” the report said.

Banks have welcomed the policy rate hikes as it has boosted their pricing power, which had come under pressure during the last two years.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/06/HDFCBank-REUT.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:113:"The MPC’s June meeting is being held this week, with the policy statement coming on Wednesday. (Image: REUTERS)";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:85:"https://www.financialexpress.com/wp-content/uploads/2022/06/HDFCBank-REUT-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:41;a:6:{s:4:"data";s:20:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:44:"RBI specifies provisioning norms for NBFC-UL";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:111:"https://www.financialexpress.com/industry/banking-finance/rbi-specifies-provisioning-norms-for-nbfc-ul/2550718/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Tue, 07 Jun 2022 03:00:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:1:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:111:"https://www.financialexpress.com/industry/banking-finance/rbi-specifies-provisioning-norms-for-nbfc-ul/2550718/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:151:"Loans for which the recovery in the case of a default will depend on cash flows arising from such properties will also be included under this category.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:17:"Subhajit Dasgupta";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-07T03:00:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:2463:"
The Reserve Bank of India on Monday specified the provisioning that non-banking financial companies (NBFCs), classified as the upper layer, must maintain for some categories of standard assets. According to the regulations, these NBFCs will need to make provision of 2% on standard assets for housing loans disbursed at teaser rates. The new norms on standard asset provisioning will come into effect from October 1. Currently, systemically important NBFCs make standard asset provision at a flat rate of 0.4%.

The RBI introduced provisioning for standard assets after 2011 and by March 2015, the provisioning needed to be 0.25% of outstanding assets.

Teaser loans attract lower interest rates in initial years after which rates are reset higher. The rate of provisioning will decline to 0.4% after a year from the date on which the rates are reset.

For commercial real estate loans for projects other than residential ones, provisions on standard assets have been set at 1% of the outstanding amount. Loans disbursed for office buildings, retail space, multi-purpose commercial premises, industrial or warehouse space, hotels or land acquisition will fall under this category.

Loans for which the recovery in the case of a default will depend on cash flows arising from such properties will also be included under this category.

The rate of provision for commercial real estate loans for residential housing stands at 0.75% of the outstanding amount. For projects which have commercial and residential parts, the commercial area must be less than 10% of the total floor space index (FSI).

For all individual housing loans and loans to small and micro enterprises (SMEs), such NBFCs will have to make provision of 0.25% for standard assets. For all other loans, the rate of provision is 0.4% of the outstanding amount.

The RBI has issued the rules on standard asset provisioning as part of the framework for scale-based regulation for NBFCs. In April, the central bank had tightened capital requirements norms and introduced rules on the large exposure framework.

In October 2021, the RBI introduced the scale-based regulatory structure for NBFCs. The structure consists of four layers based on size, activity and perceived riskiness – base layer, middle layer, upper layer and top layer. The intent behind these regulations is to bring more stability to the shadow banking sector.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:70:"https://www.financialexpress.com/wp-content/uploads/2022/06/RBI-01.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:141:"The RBI introduced provisioning for standard assets after 2011 and by March 2015, the provisioning needed to be 0.25% of outstanding assets.
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 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:87:"Need to make Indian banks, currency important part of international trade, says PM Modi";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:152:"https://www.financialexpress.com/industry/banking-finance/need-to-make-indian-banks-currency-important-part-of-international-trade-says-pm-modi/2550824/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Tue, 07 Jun 2022 01:20:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:14:"banking sector";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:13:"Narendra Modi";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:152:"https://www.financialexpress.com/industry/banking-finance/need-to-make-indian-banks-currency-important-part-of-international-trade-says-pm-modi/2550824/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:236:"Inaugurating the week-long events by the ministry of finance and corporate affairs as part of ‘Azadi Ka Amrit Mahotsav (AKAM)’, to celebrate 75 years of independence, Modi released a special series of Re 1, Rs 2, 5, 10 and 20 coins.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:17:"Subhajit Dasgupta";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-07T01:20:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:2056:"
Launching a special series of coins that are ‘visually-impaired friendly’, Prime Minister Narendra Modi on Monday said it is necessary to focus on making domestic banks and currency an important part of the international supply chain and trade.

Inaugurating the week-long events by the ministry of finance and corporate affairs as part of ‘Azadi Ka Amrit Mahotsav (AKAM)’, to celebrate 75 years of independence, Modi released a special series of Re 1, Rs 2, 5, 10 and 20 coins. The coins will have the ‘AKAM’ design but are not commemorative coins and will be part of the circulation.

Modi also launched the Jan Samarth portal — a credit-linked portal of 13 government schemes.

“Earlier it was the responsibility of the people to go to the government for availing benefit of the schemes. Now the emphasis is on taking governance to people and free them from the rigamarole of doing rounds of different ministries and websites…this portal will improve the lives of students, farmers, businessmen and MSME entrepreneurs, and will help them in realising their dreams,” Modi said.

He said that the government is focused on simplification in reforms. “GST has now replaced the web of many taxes at the Centre and the states. The country is also seeing the result of this simplification,” he said, adding that it has become normal for the GST collection to cross Rs 1 trillion every month.

Modi said greater emphasis has been laid so that youth can easily open the company of their choice, set up their enterprises easily and run them easily. “Therefore, by reducing more than 30,000 compliances, abolishing more than 1,500 laws, decriminalising many provisions of the Companies Act, we have ensured that the companies of India not only grow but achieve new heights,” he said.

Speaking on the occasion, finance minister Nirmala Sitharaman said: “Jan Samarth is part of the Prime Minister’s Seva of the common people for enabling and facilitating the common citizen.”";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/06/MP-NM.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:95:"Modi launched the Jan Samarth portal — a credit-linked portal of 13 government schemes. (PTI)";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/06/MP-NM-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:43;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:54:"Banks switch to overnight window to park surplus funds";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:121:"https://www.financialexpress.com/industry/banking-finance/banks-switch-to-overnight-window-to-park-surplus-funds/2550390/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Tue, 07 Jun 2022 00:30:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:14:"Bank of Baroda";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:3:"RBI";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:121:"https://www.financialexpress.com/industry/banking-finance/banks-switch-to-overnight-window-to-park-surplus-funds/2550390/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:145:"As the 50-basis-point (bps) hike in the cash reserve ratio (CRR) kicked in on May 21, surplus liquidity in the system has been steadily falling. ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:17:"Subhajit Dasgupta";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-07T10:46:06+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:3143:"
With an improvement in the credit growth, banks have been opting to park their surplus funds under the Reserve Bank of India (RBI)&#8217;s standing deposit facility (SDF), which is an overnight window, rather than 14-day variable rate reverse repo (VRRR) auctions.

As the 50-basis-point (bps) hike in the cash reserve ratio (CRR) kicked in on May 21, surplus liquidity in the system has been steadily falling. The June 3 VRRR auction attracted offers worth Rs 64,965 crore, compared with offers worth Rs 2.72 trillion received in the auction held on May 20. The notified amount in both the auctions was Rs 4 trillion.

Economists FE spoke to said given the current situation in credit markets, it makes more sense for banks to not lock in funds for 14 days, even though they earn more through the VRRR route.

Madan Sabnavis, chief economist at Bank of Baroda, explained that banks use VRRR when they think they are not going to need the funds for 14 days or a longer time period. “Ever since the SDF was launched, Rs 3.7 trillion has gone into it. Around two months back, a significant amount of money was going into VRRR. Then there was some last-minute demand for credit and banks actually had to go back to a special repo window opened by the RBI.”

Sabnavis estimates that so far the CRR hike may have sucked out about Rs 75,000-80,000 crore worth of liquidity and that could be the main reason behind the surplus in the system falling to Rs 4-4.5 trillion from Rs 6-7 trillion.

As a result, overall surpluses parked under both the SDF and VRRR windows have started to fall. Soumyajit Niyogi, director, core analytical group, India Ratings &amp; Research, said the surplus liquidity has considerably come down because of the CRR hike, outflows from the equity markets and rising current account deficit.

Whatever surplus banks now have, they are parking under the SDF window. At this stage, when the policy is right around the corner, banks don’t want to lock in funds under the 14-day window,” he said.

In a report dated May 23, economists at Kotak Mahindra Bank said the outstanding VRRR decreased to Rs 3.06 trillion from Rs 3.88 trillion a week before, and the amount held under the SDF fell to Rs 1.39 trillion from Rs 2.22 trillion. System liquidity surplus has tightened further thereafter amid outflows towards GST collections and RBI auctions.

Both Sabnavis and Niyogi said another CRR hike in the June policy is unlikely, but the CRR could rise later in the year. “Whenever that happens, it will create room for open market operations (OMOs). So, the RBI can hike CRR and go for OMO purchases simultaneously. We can expect the CRR to go to 5% this year,” Niyogi said.

Going by the RBI’s commentary during the May policy, Sabnavis expects the monetary policy committee to go step by step and hike the repo by 25-35 bps in the June policy. “Rather than going for an odd number, they might make a 75-bps hike, including 40 bps in May. Eventually, the CRR could go up by another 50 bps, but it will be situation-based,” he said.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:70:"https://www.financialexpress.com/wp-content/uploads/2022/06/RBI-1.jpeg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:172:"Going by the RBI’s commentary during the May policy, Sabnavis expects the monetary policy committee to go step by step and hike the repo by 25-35 bps in the June policy. ";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:78:"https://www.financialexpress.com/wp-content/uploads/2022/06/RBI-1-300x167.jpeg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:44;a:6:{s:4:"data";s:21:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:78:"First set of NPAs likely to be transferred to bad bank next month, says FinMin";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:144:"https://www.financialexpress.com/industry/banking-finance/first-set-of-npas-likely-to-be-transferred-to-bad-bank-next-month-says-finmin/2550685/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Mon, 06 Jun 2022 21:02:23 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:2:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:9:"bad loans";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:144:"https://www.financialexpress.com/industry/banking-finance/first-set-of-npas-likely-to-be-transferred-to-bad-bank-next-month-says-finmin/2550685/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:133:"In a series of tweets, the ministry said finance minister Nirmala Sitharaman on Monday reviewed the progress in setting up the NARCL.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Subham Mitra";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-06T21:02:28+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:2008:"
The finance ministry on Monday said the Rs 6,000-crore National Asset Reconstruction Company (NARCL) or bad bank is expected to take over the first set of non-performing accounts of banks next month.

NARCL is a special purpose asset reconstruction company for taking over the large value NPA accounts (above Rs 500 crore) from banks.

In a series of tweets, the ministry said finance minister Nirmala Sitharaman on Monday reviewed the progress in setting up the NARCL.

The minister was apprised of the progress achieved and took note of the approvals/permissions received for both NARCL and IDRCL from the government and regulators.

The boards of both NARCL and IDRCL, including MDs, are in place.

&#8220;With the account-wise due diligence nearing completion, the first set of accounts is expected to be transferred during July 2022. The remaining accounts are proposed to be taken over within the third quarter of the current financial year,&#8221; said one of the tweet.

Last month, NARCL had said Natarajan Sundar has assumed the charge of MD and CEO of the bad bank.

NARCL has shareholding from 15 Indian lenders and Canara Bank is the sponsor of this Asset Reconstruction Company (ARC).

Together with debt management company IDRCL, they are presently engaged in completing the financial and legal due diligence of the identified accounts for take over from lenders In September last year, the government had announced a guarantee worth Rs 30,600 crore to security receipts issued by NARCL. The guarantee is valid for five years.

Banks have identified a total of 38 NPA (Non-Performing Asset) accounts worth Rs 82,845 crore to be transferred to NARCL initially.

While public sector banks have taken a majority stake in NARCL, India Debt Resolution Company Ltd (IDRCL) will be majorly owned by private sector banks. SBI, Union Bank of India and Indian Bank have picked up 13.27 per cent stake each in NARCL.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:80:"https://www.financialexpress.com/wp-content/uploads/2022/06/Cash-or-Rupee-03.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:88:"https://www.financialexpress.com/wp-content/uploads/2022/06/Cash-or-Rupee-03-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:45;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:71:"Reserve Bank of India comes out with provisioning norms for large NBFCs";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:138:"https://www.financialexpress.com/industry/banking-finance/reserve-bank-of-india-comes-out-with-provisioning-norms-for-large-nbfcs/2550495/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Mon, 06 Jun 2022 19:26:04 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:4:"NBFC";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:3:"RBI";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:138:"https://www.financialexpress.com/industry/banking-finance/reserve-bank-of-india-comes-out-with-provisioning-norms-for-large-nbfcs/2550495/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:118:"As per the scale-based regulation for NBFCs, the four layers are Base Layer, Middle Layer, Upper Layer, and Top Layer.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Subham Mitra";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-06T19:26:15+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:2047:"
Reserve Bank of India (RBI) on Monday came out with a set of norms for provisioning for standard assets by large Non-Banking Financial Companies (NBFCs) in view of the increasing role played by such entities in the financial system.

In October last year, RBI had issued a framework for scale-based regulation for NBFCs. Regulatory structure for NBFCs comprise four layers based on their size, activity, and perceived riskiness.

In a circular on Monday, the central bank specified rates of provision for outstanding loans extended by &#8216;NBFC-Upper Layer&#8217;.

In case of individual housing loans and loans to Small and Micro Enterprises (SMEs), the rate of provision has been specified at 0.25 per cent and for housing loans extended at teaser rates, it has been fixed at 2 per cent. The latter will decrease to 0.4 per cent after 1 year from the date on which the rates are raised.

For Commercial Real Estate – Residential Housing (CRE &#8211; RH) sector, the rate of provision is 0.75 per cent, and for CRE, other than residential housing, it will be 1 per cent.

Further, RBI said the rate of provision for restructure loans will as per the stipulation in the applicable prudential norms.

The rate of provision for medium enterprises has been fixed at 0.4 per cent.

It also said the current credit exposures arising on account of the permitted derivative transactions shall attract provisioning requirement as applicable to the loan assets in the &#8216;standard&#8217; category, of the concerned counterparties.

The upper layer comprises those NBFCs which are specifically identified by RBI as warranting enhanced regulatory requirement based on a set of parameters and scoring methodology.

The top ten eligible NBFCs in terms of their asset size shall always reside in the upper layer, irrespective of any other factor.

As per the scale-based regulation for NBFCs, the four layers are Base Layer, Middle Layer, Upper Layer, and Top Layer.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:78:"https://www.financialexpress.com/wp-content/uploads/2022/06/RBI-07-Reuters.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:91:"The rate of provision for medium enterprises has been fixed at 0.4 per cent. (File/Reuters)";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:86:"https://www.financialexpress.com/wp-content/uploads/2022/06/RBI-07-Reuters-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:46;a:6:{s:4:"data";s:22:" 
 
 
 
 
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The Reserve Bank of India clarified on Monday that there is no proposal with the central bank on making changes with any existing currency and bank notes. The clarification comes a day after some media reports claimed that the RBI and the central government is considering making changes to the note by replacing the face of Mahatma Gandhi with that of other leaders such as APJ Abdul Kalam and Rabindranath Tagore.&nbsp;

&#8220;There are reports in certain sections of the media that the Reserve Bank of India is considering changes to the existing currency and banknotes by replacing the face of Mahatma Gandhi with that of others. It may be noted that there is no such proposal in the Reserve Bank,&#8221; the RBI said in a clarification Monday.

According to a New Indian Express report, citing unnamed sources, the RBI and the Security Printing and Minting Corporation of India (SPMCIL), under the Ministry of Finance, are considering to use watermarks of writer and Nobel Prize awardee Rabindranath Tagore, and India’s former President APJ Abdul Kalam on some bank notes. The report further claimed that designing of samples had ‘official sanction’ however, no firm decision has been taken on it yet.

The watermark image of the ‘Father of the Nation’ Mahatma Gandhi is printed on all bank notes. This practice was commemorated for the first time back in 1969 initially on the Rs 1, Rs 2 and Rs 5 notes. The design series in honour of the birth centenary celebrations of Mahatma Gandhi was issued in the 1960s which depicted a seated Gandhi with the Sevagram Ashram as the backdrop.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-207.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:99:"RBI clarified on Monday that there no proposal to replace image of Mahatma Gandhi from bank notes. ";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-207-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:47;a:6:{s:4:"data";s:23:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:32:"Banks see pick-up in capex loans";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:99:"https://www.financialexpress.com/industry/banking-finance/banks-see-pick-up-in-capex-loans/2549478/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Mon, 06 Jun 2022 06:14:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:4:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:14:"banking sector";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:3;a:5:{s:4:"data";s:9:"HDFC Bank";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:99:"https://www.financialexpress.com/industry/banking-finance/banks-see-pick-up-in-capex-loans/2549478/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:88:"The spurt in demand has encouraged even large private banks to take a share of the pie. ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:17:"Subhajit Dasgupta";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-06T06:14:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:2262:"
With an uptick in demand for project finance from late last year, bankers believe need for long-term funds should rise by anywhere between 12-15% this year.

Bank credit deployed in the infrastructure segment rose 10.2% year-on-year in April 2022, with roads, telecommunications and power leading the pack. The outstanding credit to this space, towards the end of March was Rs 12 trillion, according to Reserve Bank of India (RBI).

Consequently, banks are now gearing up to meet demand for infrastructure projects in FY23, which they expect will be an even better year for the segment. Much of the demand in the infra segment is coming from large conglomerates in segments like roads, ports, airports, renewable energy, data centres and gas pipelines.

Projects where finance is being tied up are Mumbai International Airport, Noida Jewar International Airport, Ganga Expressway, hybrid annuity model (HAM) projects where the National Highways Authority of India (NHAI) has sought bids in the last four months, some solar projects and small port projects in Telangana, Odisha and Maharashtra.

Rajneesh Karnatak, executive director, Union Bank of India, said the government’s capex push and its intention to achieve 60% of the capex target by September 2022, suggests strong credit off take in FY23.The government has budgeted Rs 7.5 trillion as capital expenditure forFY23.

“We are looking at all sectors and projects and we are taking a share wherever the project is viable and the promoter is strong. There are also some refinance transactions happening in some thermal, renewable and road projects where there is demand for refinance after cash flows have commenced,” Karnatak said.

The spurt in demand has encouraged even large private banks to take a share of the pie. HDFC Bank, known for avoiding riskier bets, is participating in project finance transactions. For now, at least, the lender is sticking to the classic private-bank script of financing projects where cash flows have already started coming in rather than in ones where the commercial operation date (COD) is a few years away. Bankers say that the magnitude of demand is sizeable enough to accommodate all interested players.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:82:"https://www.financialexpress.com/wp-content/uploads/2022/03/Cash-or-Rupee-05-7.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:89:"HDFC Bank, known for avoiding riskierbets,is participating inprojectfinance transactions.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:90:"https://www.financialexpress.com/wp-content/uploads/2022/03/Cash-or-Rupee-05-7-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:48;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:93:"Bank of Baroda to benefit from govt thrust on infrastructure spending: Chairman Hasmukh Adhia";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:159:"https://www.financialexpress.com/industry/banking-finance/bank-of-baroda-to-benefit-from-govt-thrust-on-infrastructure-spending-chairman-hasmukh-adhia/2548767/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Sat, 04 Jun 2022 20:40:18 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:14:"Bank of Baroda";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:159:"https://www.financialexpress.com/industry/banking-finance/bank-of-baroda-to-benefit-from-govt-thrust-on-infrastructure-spending-chairman-hasmukh-adhia/2548767/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:329:""The Government of India has come up with many initiatives for increasing spending on infrastructure projects and other investments to revive the economy. The banking industry of course would be benefited due to increase in the demand for bank credit and Bank of Baroda would be a key beneficiary of these developments," he said.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:15:"Hemant Abhishek";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-04T20:40:43+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:1627:"
Bank of Baroda (BoB) is set to benefit from the government&#8217;s thrust on increased infrastructure spending and other investments to revive the economy, its Chairman Hasmukh Adhia said.

Addressing the state-run lender&#8217;s shareholders in its latest annual report, he further said the bank has a positive outlook for 2022-23.

&#8220;The Government of India has come up with many initiatives for increasing spending on infrastructure projects and other investments to revive the economy. The banking industry of course would be benefited due to increase in the demand for bank credit and Bank of Baroda would be a key beneficiary of these developments,&#8221; he said.

The bank has shown that it is adaptable to change and has been able to respond quickly to the evolving macroeconomic conditions, he said, adding it has fine-tuned its operational capabilities and increased its delivery capacity.

BoB has adopted a &#8216;phygital&#8217; model by offering the latest products and services using its strong digital platform along with conventional branch banking, Adhia noted.

The major business goals and objectives of the bank are focused on creating a sustainable and profitable business model with a greater customer-friendly approach, adopting latest technological innovations to increase its brand name, he added.

The bank is now on a firm footing in terms of both operational and financial performance. It is well positioned to support the growth aspirations of the Indian economy and fulfil the expectations of all stakeholders, the annual report said.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:87:"https://www.financialexpress.com/wp-content/uploads/2022/06/Bank-of-Baroda-1200-667.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:166:"BoB has adopted a 'phygital' model by offering the latest products and services using its strong digital platform along with conventional branch banking, Adhia noted.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:95:"https://www.financialexpress.com/wp-content/uploads/2022/06/Bank-of-Baroda-1200-667-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:49;a:6:{s:4:"data";s:23:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:51:"SBI loses market share in debit card spends in FY22";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:118:"https://www.financialexpress.com/industry/banking-finance/sbi-loses-market-share-in-debit-card-spends-in-fy22/2548042/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Sat, 04 Jun 2022 00:30:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:4:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:10:"Debit Card";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:3;a:5:{s:4:"data";s:3:"SBI";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:118:"https://www.financialexpress.com/industry/banking-finance/sbi-loses-market-share-in-debit-card-spends-in-fy22/2548042/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:288:"SBI grew its share in the network of point of sale (POS) terminals to over 15% from 13% in March 2021. In home loans, too, the bank gained share, accounting for 35.3% of all mortgages given by banks in India, up from 34.53% a year ago. SBI also gained some share in advances and deposits.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Anish Mondal";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-04T00:30:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:2790:"
State Bank of India (SBI) lost market share in debit card spends between March 2021 and March 2022, even as it managed to hold on to or improve its share in most other lines of business. The lender’s annual report for FY22 showed that its share in debit card spends fell to 27.58% at the end of the year, from 29.23% at the end of March 2021.

SBI grew its share in the network of point of sale (POS) terminals to over 15% from 13% in March 2021. In home loans, too, the bank gained share, accounting for 35.3% of all mortgages given by banks in India, up from 34.53% a year ago. SBI also gained some share in advances and deposits.

Increasing market share in its various lines of business is an important focus area for SBI. In a post-results call with investors last month, chairman Dinesh Khara had said the bank was aware of the areas where it needed to improve its performance. “With economic activity continuing to improve and the resultant higher credit offtake, the bank is aiming to increase its market share in advances,” Khara said. SBI is also focusing on current account deposits to improve its current account savings account (CASA) ratio.“Our long-term goals are very clear and we are committed to maintain our numero uno position in the industry,” Khara said.

Metrics like debit card spends are important to banks as they are key to understanding the potential a customer offers in terms of yielding business for the bank. Strengthening its digital capabilities will be a significant focus area for SBI in FY23, Khara said in his message to shareholders in the annual report.

Among the initiatives on the cards is a plan to accelerate the digital agenda both in the front and back offices. SBI intends to expand the capabilities and reach of its mobile app Yono while also improving the user experience. Partnerships with fintechs and non-banking financial companies will be explored further to increase penetration and reach.

Yono has served SBI well over the past year, with about 26,000 savings accounts being opened on a daily basis through the app. In Q4FY22, SBI disbursed pre-approved personal loans worth Rs 6,500 crore and sanctioned agri gold loans worth about Rs 13,000 crore through Yono. Khara said the app made a contribution of Rs 25,000 crore to the bank’s overall loan book. SBI’s total advances stood at Rs 28.18 trillion at the end of March 2022.

Analysts watching the bank’s performance expect it to harness the Yono platform better, especially in the unsecured personal loans segment. In a post-results report on SBI, Kotak Institutional Equities wrote, “The bank has about 17 million salaried account customers with penetration of 27%, implying further scope for growth.”";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:68:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-84.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:157:"The lender’s annual report for FY22 showed that its share in debit card spends fell to 27.58% at the end of the year, from 29.23% at the end of March 2021.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:76:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-84-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:50;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:56:"Credit card usage, spends shrink month-on-month in April";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:122:"https://www.financialexpress.com/industry/banking-finance/credit-card-usage-spends-shrink-month-on-month-in-april/2547049/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Fri, 03 Jun 2022 03:30:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:11:"Credit card";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:122:"https://www.financialexpress.com/industry/banking-finance/credit-card-usage-spends-shrink-month-on-month-in-april/2547049/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:137:"A post-pandemic revival in air travel and hospitality were seen to have been driving credit card spends as well as receivables in Q4FY22.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Anish Mondal";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-03T03:30:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:2564:"
Credit card usage and spends shrank on a month-on-month (m-o-m) basis in April, shows data released by the Reserve Bank of India (RBI). While the volume of transactions fell 0.37% to Rs 223 million, the value of spends declined 1.5% to Rs 1.05 trillion.

The number of cards in force rose 2% m-o-m in April to over 75 million.

In March 2022, credit card spends across the industry were up 24% m-o-m at Rs 1.07 trillion, leading analysts to expect that spends in April and May would increase further to around Rs 1.1 trillion. A post-pandemic revival in air travel and hospitality were seen to have been driving credit card spends as well as receivables in Q4FY22.

Analysts remain upbeat about a pick-up in payment transactions, encouraged by year-on-year (y-o-y) trends. “Daily payments data for May 2022 from RBI indicates that strong trends in payments continued. We are in a seasonally weak period from a retail spends perspective, but the yearly growth trends are still quite solid, especially when we look at the credit card data,” Kotak Institutional Equities said in a report on Thursday.

On a y-o-y basis, credit card spends jumped nearly 79% in April. However, the RBI data for April 2022 and April 2021 are not strictly comparable, as last year’s numbers do not include the value of credit card transactions made on e-commerce platforms.

Improved utilisation of each outstanding credit card has also encouraged a more upbeat outlook on usage. In a recent report, ICICI Securities pointed out that card receivables have picked up with the outstanding per card at the industry level improving to Rs 20,000 for each month in Q4FY22 from Rs 18,000 in December 2021. “Accordingly, the ratio of credit card to debit card spend at 1.67x as of March 2022 is the highest since April 2019, when it was 1.0x,” the broking firm said.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:68:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-59.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:253:"On a y-o-y basis, credit card spends jumped nearly 79% in April. However, the RBI data for April 2022 and April 2021 are not strictly comparable, as last year’s numbers do not include the value of credit card transactions made on e-commerce platforms.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:76:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-59-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:51;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:44:"Kotak bank launches investment solutions app";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:111:"https://www.financialexpress.com/industry/banking-finance/kotak-bank-launches-investment-solutions-app/2547032/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Fri, 03 Jun 2022 03:15:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:19:"Kotak Mahindra Bank";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:111:"https://www.financialexpress.com/industry/banking-finance/kotak-bank-launches-investment-solutions-app/2547032/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:199:"The platform will provide investment solutions ranging from stocks, bonds, mutual funds, fixed deposits and national pension scheme to progressive investment opportunities like exchange traded funds.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Anish Mondal";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-03T03:15:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:1487:"
Kotak Mahindra Bank, through its subsidiary Kotak Investment Advisors, on Thursday launched an investment management app, Kotak Cherry. The platform will provide investment solutions ranging from stocks, bonds, mutual funds, fixed deposits and national pension scheme to progressive investment opportunities like exchange traded funds.

The app is enabled as a do-it-yourself (DIY) execution platform. The bank plans to add more features to the platform such as stock baskets, robo advisory, life, medical, general insurance and enable international investing. The bank is targeting to build a base of 10 lakh customers in a year. Additional features will be added by October.

It will truly revolutionise the world of retail investing. We aim to unlock all features, including exhaustive personalisation, open architecture and diverse investment features in a phased manner by October,” KVS Manian, president – corporate, institutional &amp; investment banking, Kotak Mahindra Bank, said at the launch.

In this digital age of automation and one-size-fits all, we at Cherry believe in offering curated solutions that will help de-clutter investment options for our customers. Led by a solid team of credible and experienced professionals, we believe deep domain experience will matter when it comes to investing. It is a one-stop platform that will help people invest like experts,” Srikanth Subramanian, CEO-designate of Kotak Cherry, said. &nbsp;";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:68:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-56.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:115:"The bank is targeting to build a base of 10 lakh customers in a year. Additional features will be added by October.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:76:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-56-300x166.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"166";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:52;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:85:"Retail segment likely to be key driver: Bankers see credit growth momentum sustaining";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:151:"https://www.financialexpress.com/industry/banking-finance/retail-segment-likely-to-be-key-driver-bankers-see-credit-growth-momentum-sustaining/2546980/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Fri, 03 Jun 2022 01:45:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:14:"banking sector";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:151:"https://www.financialexpress.com/industry/banking-finance/retail-segment-likely-to-be-key-driver-bankers-see-credit-growth-momentum-sustaining/2546980/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:208:"To give credit growth a leg-up, ICICI Bank is ramping up its insta-biz platform for SME business, Jefferies said in a report. The brokerage expects this segment to grow at a CAGR of 25% between FY22 and FY24.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Anish Mondal";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-03T01:45:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:3906:"
As the credit growth picks up, top bankers are optimistic that the momentum will sustain in the coming quarters as the economy opens up. Offshoots of growth in corporate loan were visible, but retail and MSME remained the drivers of credit growth during the previous financial year. &nbsp; &nbsp;

While the rise in total advances for public sector banks was 7.2% in FY22, the growth rate of private banks was at nearly 16%, according to data compiled by Capitaline. “Recovery in economic activity, derivative effect of increased investments and spending on consumption may sustain the momentum of over 12% growth over FY22-FY25,” ICICI Securities said in a report. &nbsp;

For SBI, the retail segment was the key driver for loan growth, according to ICICI Securities. SBI’s retail loans grew 15%. A bulk of these loans consisted of home loans, which grew 11.5% on year. Chairman Dinesh Khara expects the current loan growth momentum to sustain, both in the retail and corporate portfolios.

HDFC Bank expects demand for credit to remain strong. The lender is likely to witness a 15-16% loan growth in the medium term, according to Kotak Institutional Equities Research. The bank’s credit will be supported by retail and commercial segments. Retail loans of the bank faced significant headwinds since the onset of the Covid, but the brokerage expects the hurdles to abate as the impact of the pandemic recedes.

To give credit growth a leg-up, ICICI Bank is ramping up its insta-biz platform for SME business, Jefferies said in a report. The brokerage expects this segment to grow at a CAGR of 25% between FY22 and FY24.

The loan growth momentum of Bank of Baroda was at 11.6% in Q4FY22. The growth was driven by retail loans, including home, auto and gold loans. The bank has stepped up on unsecured personal loans, but the base is quite small, Nomura Research said in a report. The management said it will maintain its loan growth in line with the industry standard of 7-10%, but wants to focus on segments such as retail which will allow it to protect margins. &nbsp;

Punjab National Bank MD &amp; CEO Atul Kumar Goel is optimistic of improvement in loan disbursal in the current fiscal. The management has given a guidance of 10% credit growth in FY23, compared with a 6.2% credit growth achieved in FY22.

Credit deployment data released by the Reserve Bank of India for April suggest that retail loans will continue the upward trajectory. Non-food credit growth rose by double-digit, but that is also due to lower base in April 2021.

Despite a significant improvement in net profits in Q4FY22, pre-provisioning profits of lenders remained in single digits.

ICICI Bank was the outlier in terms of a weak recovery in operating profit. The lender posted 19% growth in core operating profit to Rs 10,293 crore. Lower provisioning, along with a sharp decline in credit costs, aided the profitability in Q4, Jefferies said.

Since banks will have free capital due to lower provisioning, analysts expect that the loan growth momentum will help drive the growth in operating profits.

HDFC Bank’s pre-provisioning profit rose by 5.3% to Rs 16,357 crore in Q4. “We believe that strong retail credit demand will be the key for preserving pre-provisioning profit growth for the banking system in the current environment,” Nomura Research said.

Non-interest income of public sector banks in the pool took a notable hit of 27% in Q4FY22 due to unfavourable movement in the government securities market. SBI’s other income declined close to 27% to Rs 11,880 crore. G-Sec yields sharply reacted to policy measures which will have an adverse impact on the treasury performance and banks are likely to report mark-to-market losses in the first quarter of FY23, Motilal Oswal said in a report.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:68:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-50.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:318:"For SBI, the retail segment was the key driver for loan growth, according to ICICI Securities. SBI’s retail loans grew 15%. A bulk of these loans consisted of home loans, which grew 11.5% on year. Chairman Dinesh Khara expects the current loan growth momentum to sustain, both in the retail and corporate portfolios.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:76:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-50-300x166.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"166";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:53;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:72:"Digital payments value to grow threefold to $10 trillion by 2026: Report";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:137:"https://www.financialexpress.com/industry/banking-finance/digital-payments-value-to-grow-threefold-to-10-trillion-by-2026-report/2546852/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Fri, 03 Jun 2022 00:15:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:15:"digital payment";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:137:"https://www.financialexpress.com/industry/banking-finance/digital-payments-value-to-grow-threefold-to-10-trillion-by-2026-report/2546852/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:144:"As a result of this unprecedented growth, digital payments will constitute two out of every three payment transactions by 2026, the report said.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Anish Mondal";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-03T00:15:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:2262:"
The size of the India’s digital payments market is likely to grow more than threefold from $3 trillion at present to $10 trillion by 2026, said a report by PhonePe and Boston Consulting Group (BCG). As a result of this unprecedented growth, digital payments will constitute two out of every three payment transactions by 2026, the report said.

Simplified customer on-boarding, continued push for consumer awareness, expanding merchant acceptance, greater merchant access to credit, infrastructure upgrades and setting up of a financial services marketplace are set to drive growth in under-penetrated regions. The Internet of Things, 5G connectivity and the launch of a central bank digital currency will provide further impetus to growth, according to the report.

Karthik Raghupathy, head of strategy and investor relations, PhonePe, said Unified Payments Interface (UPI) has supercharged India’s transition to non-cash payments when it comes to both person-to-person (P2P) and person-to-merchant (P2M) transactions.

The volume of UPI transactions rose to about 46 billion in FY22 from 5 billion in FY19, accounting for more than 60% of all non-cash transaction volumes in FY22, Raghupathy said. In May 2022, the payment channel clocked a record transaction value of Rs 10 trillion. “While tier I-II cities have witnessed high acceptance of digital payments, penetration in tier III-VI cities shows headroom for growth. The next wave of growth will now come from tier III-VI locations, as evidenced in the past two years wherein tier III-VI cities have contributed to nearly 60-70% of new customers for PhonePe,” he said.

Prateek Roongta, managing director &amp; partner, BCG, said by 2026, 65% of all transactions in India will be made digitally, as against 40% today. “Merchant payments will emerge as the most powerful driver of this growth, especially in the offline segment, due to growing QR code deployments. We expect that merchant payments will soon outpace person-to-person fund transfers,” Roongta said.

According to the latest available data from the National Payments Corporation of India, P2M transactions accounted for over 40% of UPI transactions by volume and 18% in value terms.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:68:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-37.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:154:"The Internet of Things, 5G connectivity and the launch of a central bank digital currency will provide further impetus to growth, according to the report.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:76:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-37-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:54;a:6:{s:4:"data";s:24:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:88:"Cash no longer the king: 65% transactions to be digital by 2026, says BCG-PhonePe report";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:152:"https://www.financialexpress.com/industry/banking-finance/cash-no-longer-the-king-65-transactions-to-be-digital-by-2026-says-bcg-phonepe-report/2546559/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Thu, 02 Jun 2022 15:17:57 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:5:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:7:"Banking";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:3;a:5:{s:4:"data";s:15:"Digital Economy";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:4;a:5:{s:4:"data";s:15:"digital payment";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:152:"https://www.financialexpress.com/industry/banking-finance/cash-no-longer-the-king-65-transactions-to-be-digital-by-2026-says-bcg-phonepe-report/2546559/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:115:"India’s digital payments market is at an "inflection point" and is expected to more than triple, the report said.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:14:"Aakriti Bhalla";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-02T15:18:03+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:2916:"
The habit of carrying your wallet while making purchases may soon be replaced by carrying your phone, as consumers continue to go cashless, findings of a recent study suggest. According to a report jointly released by Boston Consulting Group (BCG) and PhonePe, 65 per cent of all transactions, or two of every three transactions, in terms of value, are expected to be digital by 2026.

India’s digital payments market is at an &#8220;inflection point&#8221; and is expected to more than triple to $10 trillion by 2026 from the current level of $3 trillion, the report said. This growth would be driven by increase in merchant payments, it added, as more and more merchants shift to QR (quick response) based payments in offline sales. The findings of the report exclude B2B (business-to-business) and G2B (government-to-business) transactions.

India’s digital payments landscape has transformed dramatically over the past five years on account of rapid expansion in digital infrastructure, UPI-led migration to digital, pandemic-led acceleration of shift in customer preferences, growing merchant acceptance network and disruptive innovations by fintechs, the report said.

UPI to lead non-cash payments

So far, UPI has ‘supercharged’ India’s transition to non-cash payments, especially in person-to-person (P2P) fund transfers and low value merchant (P2M) payments, the report said. UPI is expected to drive three-fourth of total non cash transactions in five years, according to the findings of the report. In the last three years transaction volume through UPI has jumped nine times to 46 billion transactions in FY22.

However, alongside the potential of digital transactions, there is also a need to address fraud management, simplify digital onboarding and KYC, reduce strain on tech infrastructure of banks, allow better economics for payment players and strengthen the country’s digital infrastructure, the report said.

‘Underpenetrated’ Tier 3-6 cities to drive growth

Currently the tier 3 cities and beyond and India’s vast rural heartlands remain underpenetrated, the report said, adding that there is a significant scope for growth in those regions.

&#8220;While Tier 1-2 cities have witnessed high acceptance of digital payments, penetration in Tier 3-6 cities shows headroom for growth. The next wave of growth will now come from Tier 3-6 locations, as evidenced in the past two years wherein Tier 3-6 cities have contributed to nearly 60-70% of new customers for PhonePe,” Karthik Raghupathy, Head of Strategy, and Investor Relations at PhonePe said.

There are currently about 30 million B2C (business-to-consumer) merchants who accept QR code payments at POS and this number is expected to increase to cover about 40 million merchants, according to the report.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:80:"https://www.financialexpress.com/wp-content/uploads/2022/06/Digital-payments.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:130:"India’s digital payments market is expected to more than triple to $10 trillion by 2026, a report said. (representational image)";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:88:"https://www.financialexpress.com/wp-content/uploads/2022/06/Digital-payments-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:55;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:73:"Bank credit to NBFCs rises 10 per cent to Rs 10.5 lakh cr in FY22: Report";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:139:"https://www.financialexpress.com/industry/banking-finance/bank-credit-to-nbfcs-rises-10-per-cent-to-rs-10-5-lakh-cr-in-fy22-report/2546330/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Thu, 02 Jun 2022 12:55:37 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:7:"Banking";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:139:"https://www.financialexpress.com/industry/banking-finance/bank-credit-to-nbfcs-rises-10-per-cent-to-rs-10-5-lakh-cr-in-fy22-report/2546330/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:163:"In absolute terms, according to an analysis by Care Ratings, bank credit to non-banking financial companies (NBFCs) expanded by Rs 99,000 crore in FY22, from FY21.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:13:"anamika sinha";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-02T12:55:41+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:1783:"
Bank credit to NBFCs grew in double digit in FY22 with outstanding bank credit to them rising by 10.4 per cent to Rs 10.5 lakh crore on the back of improvement in overall economic activities and banks&#8217; renewed focus on the NBFC sector following improvement in their balance sheets, says a report.

In absolute terms, according to an analysis by Care Ratings, bank credit to non-banking financial companies (NBFCs) expanded by Rs 99,000 crore in FY22, from FY21. The number does not include liquidity given by banks to them through securitization route (direct assignment and pass-through certificates) and also banks&#8217; investments in NBFCs&#8217; debt instruments.

Meanwhile, mutual funds&#8217; debt exposure through commercial papers (CPs) and corporate bonds, to NBFCs rose 14.3 per cent to Rs 1.7 lakh crore in FY22 as NBFCs issued more CPs to fund IPOs and as they shifted from long-term to short-term investments on expectation of hike in interest rates.

In absolute terms, it expanded by Rs 21,000 crore, says the report. Outstanding investments in CPs of NBFCs grew 25 per cent to Rs 73,000 crore in FY22 as the year was the best in the IPO history and NBFCs issued CPs worth Rs 15,000 crore to fund IPOs. The percentage share of funds deployed by mutual funds in CPs of NBFCs in FY22 stood at 4.4 per cent of debt assets under management (AUMs), up from 3.6 per cent in FY21.

Banks credit exposure to NBFCs fluctuated around Rs 9 lakh crore-mark for the better part of FY22 and crossed Rs 10 lakh crore threshold in December 2021. And from there, it continued its upward trajectory and crossed Rs 10.5 lakh crore in March 2022 as capital market rates hardened and NBFCs turned to avail comparatively cheaper bank loans.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:75:"https://www.financialexpress.com/wp-content/uploads/2022/06/bank-credit.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:179:"Banks credit exposure to NBFCs fluctuated around Rs 9 lakh crore-mark for the better part of FY22 and crossed Rs 10 lakh crore threshold in December 2021. (Representational image)";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:83:"https://www.financialexpress.com/wp-content/uploads/2022/06/bank-credit-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:56;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:49:"UPI transactions cross Rs 10-trillion mark in May";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:116:"https://www.financialexpress.com/industry/banking-finance/upi-transactions-cross-rs-10-trillion-mark-in-may/2545651/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Thu, 02 Jun 2022 03:00:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:3:"UPI";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:116:"https://www.financialexpress.com/industry/banking-finance/upi-transactions-cross-rs-10-trillion-mark-in-may/2545651/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:95:"
UPI transactions more than doubled on a year-on-year basis, in terms of both volume and value.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:17:"Subhajit Dasgupta";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-02T03:00:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:2056:"
Unified Payments Interface (UPI) transactions continued to grow in May with the platform processing transactions of Rs 10 trillion during the month. In volume terms, transactions were at 5.95 billion during the month, according to data released by the National Payments Corporation of India.

UPI transactions more than doubled on a year-on-year basis, in terms of both volume and value. In May 2021, the value of UPI transactions stood at Rs 4.91 trillion while the number of transactions totalled to 2.54 billion.

On a month-on-month basis, the number of transactions grew by close to 7% while the value rose nearly 6%. The value of such transactions stood at Rs 9.83 trillion in April.

For the previous financial year, the value of UPI transactions was at Rs 83.45 trillion.

UPI continues to dominate daily debit transactions, Nomura Research said in a report earlier this month. Similar spending per transaction in UPI and debit cards, on the back of a strong growth in volumes for UPI, implies that UPI could be eating into the debit card and small-ticket spending pie, the report said.

The Reserve Bank of India’s focus on digital payments and banking will further aid the growth of the UPI platform. In its annual report for FY22, the central bank said it is planning to link UPI to its foreign counterparts. The RBI is already working with the monetary authority of Singapore towards linking UPI with PayNow. The linkage is expected to be completed by the second half of 2022.

NPCI also released data for other payment systems as well. The number of Immediate Payments System (IMPS) transactions in May stood at 484.8 million, compared with 471.6 million a month ago. The value of IMPS transactions in May was at Rs 4.5 trillion, against Rs 4.44 trillion in the previous month.

In May, vehicle owners paid toll of Rs 43.7 billion via Fastag, against Rs 42.2 billion in the previous month. Fastag transactions in May stood at 285 million, compared with 266 million a month ago.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:80:"https://www.financialexpress.com/wp-content/uploads/2022/05/UPI-transactions.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:128:" In May 2021, the value of UPI transactions stood at Rs 4.91 trillion while the number of transactions totalled to 2.54 billion.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:88:"https://www.financialexpress.com/wp-content/uploads/2022/05/UPI-transactions-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:57;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:63:"SBI to accelerate digital agenda in FY23: Chairman Dinesh Khara";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:129:"https://www.financialexpress.com/industry/banking-finance/sbi-to-accelerate-digital-agenda-in-fy23-chairman-dinesh-khara/2545676/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Thu, 02 Jun 2022 01:55:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:3:"SBI";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:129:"https://www.financialexpress.com/industry/banking-finance/sbi-to-accelerate-digital-agenda-in-fy23-chairman-dinesh-khara/2545676/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:87:"
SBI is comfortably placed in terms of growth capital for the current year, Khara said.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:17:"Subhajit Dasgupta";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-02T01:55:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:2647:"
State Bank of India (SBI) will accelerate its digital agenda at the level of its front and back offices in the current financial year, chairman Dinesh Khara said in the bank’s annual report for FY22. The lender intends to expand the scope and reach of its app Yono and enhance the user experience of the platform.

In business operations, your bank will leverage advanced analytics for deeper insights on internal data and its best possible usage,” Khara said in his message to shareholders. Mutually-beneficial partnerships with fintechs and non-banking financial companies will be further explored to increase the penetration and reach of the bank, he added. As of March 2022, SBI had 22,266 branches, over 68,000 business correspondents and more than 65,000 ATMs.

SBI is comfortably placed in terms of growth capital for the current year, Khara said. Opportunities for lending in promising sectors, such as those identified under the production linked incentive (PLI) scheme and renewables, as well as electric mobility, will be explored to diversify the portfolio.

Khara observed that FY22 was a much better year compared to FY21, with the pace of economic activity picking up. The momentum is expected to continue, he said. SBI’s standalone net profit for FY22 rose 55% over the previous year to Rs 31,676 crore in FY22. Its advances grew 11% during the year to Rs 28.18 trillion, better than the 4.8% growth clocked in FY21. Total deposits grew 10.06% to surpass the Rs 40-trillion mark.

Khara said SBI has been taking several initiatives to upgrade its technology infrastructure. It has been working on upgrading ATM connectivity by arranging 4G connectivity to off-site ATMs. Alternate secondary links to branches and offices have been put in place to improve the network experience and minimise outages.

The bank has devised an early warning and insights mechanism related to cybersecurity threats to comply with the RBI&#8217;s cybersecurity framework by arranging a honeypot solution. To increase penetration and nudge customers into adopting technology, the Yono Lite app has been made available in 12 Indian languages and the Yono Krishi app in 10 languages.

While SBI plans to eventually extend the Yono platform to customers of all banks, insiders say there are challenges. “Many of SBI’s own customers are not using Yono to an optimum level. We would like to first upgrade the app and make most of our customers active users. Thereafter, we can think about opening APIs (application programming interfaces) to customers of other banks,” said a senior banker.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:72:"https://www.financialexpress.com/wp-content/uploads/2022/05/sbireu-1.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:112:"Khara observed that FY22 was a much better year compared to FY21, with the pace of economic activity picking up.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:80:"https://www.financialexpress.com/wp-content/uploads/2022/05/sbireu-1-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:58;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:39:"RBI likely to raise repo rate next week";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:106:"https://www.financialexpress.com/industry/banking-finance/rbi-likely-to-raise-repo-rate-next-week/2545686/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Thu, 02 Jun 2022 01:37:18 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:3:"RBI";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:106:"https://www.financialexpress.com/industry/banking-finance/rbi-likely-to-raise-repo-rate-next-week/2545686/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:45:"Banks, NBFCs go for fresh round of rate hikes";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:17:"Subhajit Dasgupta";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-02T01:37:25+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:1966:"
Punjab National Bank (PNB), ICICI Bank and Housing Development Finance Corporation (HDFC) went for a fresh round of hikes in lending rates on Wednesday. Most lenders had raised rates after the monetary policy committee hiked the repo rate by 40 basis points (bps) on May 4.

PNB raised its marginal cost of funds-based lending rate (MCLR) by 15 bps across tenures and ICICI Bank hiked MCLRs of all tenures by 30 bps. PNB’s one-year MCLR now stands at 7.4%, while ICICI Bank’s one-year MCLR is at 7.55%. HDFC raised its retail prime lending rate by 5 bps. Loans from the mortgage lender will now attract interest rates ranging from 7.05-7.5%, up from 7-7.45% earlier.

Another hike in the repo rate is expected at the MPC meeting next week, which will immediately result in some retail and small business loans turning pricier. External benchmark-linked loans with the repo rate as the benchmark are set to pinch borrowers harder.

Bankers have put on a brave front in the face of the rate hikes, claiming that the growth in the economy will be enough to offset the impact of higher interest rates on customers. State Bank of India chairman Dinesh Khara said in May that hikes should not hurt retail borrowers. “Even if interest rates go up, salaries are also expected to be at pre-Covid levels,” Khara said. As for corporates, the impact on their finance cost may be limited, he added. “If at all there is demand, there is going to be capacity, there is going to be production and there are going to be loans, “ Khara said.

However, analysts are not fully convinced by the argument. In a report on Wednesday, India Ratings said the sensitivity of interest rates over aggregate demand has increased in a meaningful way. “Therefore, a faster and higher transmission of interest rate could become onerous for a section of borrowers. The situation will aggravate if real income does not improve,” the agency said.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/05/1-856.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:180:"Bankers have put on a brave front in the face of the rate hikes, claiming that the growth in the economy will be enough to offset the impact of higher interest rates on customers. ";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/05/1-856-300x166.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"166";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:59;a:6:{s:4:"data";s:23:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:60:"HDFC Bank targets doubling of balance sheet every five years";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:127:"https://www.financialexpress.com/industry/banking-finance/hdfc-bank-targets-doubling-of-balance-sheet-every-five-years/2545559/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Thu, 02 Jun 2022 01:15:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:4:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:4:"HDFC";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:3;a:5:{s:4:"data";s:9:"HDFC Bank";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:127:"https://www.financialexpress.com/industry/banking-finance/hdfc-bank-targets-doubling-of-balance-sheet-every-five-years/2545559/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:123:"Analysts who attended the conference continue to have questions on HDFC Bank’s ability to raise incremental liabilities. ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:17:"Subhajit Dasgupta";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-02T01:15:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:3962:"
The merger of Housing Development Finance Corporation (HDFC) into HDFC Bank offers a significant opportunity for the bank to scale up and will help it double its balance sheet every five years, HDFC Bank MD and CEO Sashidhar Jagdishan said.

Addressing sector analysts at an interaction on Tuesday, Jagdishan sought to allay the investor community’s concerns about the proposed merger. “Growth is not going to be an issue at all. It’s going to be pouring out of your ears,” Jagdishan said. The only limiting factor will be liabilities and the bank has a strategy for that, he said.

The bank expects mortgage penetration to drive its growth after the merger. Despite being the largest private bank in India with a 9.5% market share in deposits, the market share of the lender in home loans stands at under 2%. What’s more, the bank found that 5% of its 71-million customer base had taken home loans from other banks.

With the merger taking effect, HDFC Bank expects to add 9-10 million mortgage customers per annum. It will also take care of inefficiencies inherent in the current arrangement of HDFC Bank sourcing loans for HDFC. Jagdishan said as things stand, the turnaround time for mortgages sourced by the bank ranges from eight to 10 days, and there have been requests to crunch it to six to seven days.

Mortgages will help the bank expand its cross-selling opportunities in terms of consumer durable financing, unsecured lending and liabilities. With the merger, the share of unsecured loans in the book will fall to 20-25%, offering room for further growth.

The bank expects that on the effective date of the merger, it will have $6-7 billion worth of profits accruing on an annual basis. With a growth rate of 18-22% over the five-year period thereafter, profits would expand to $14-15 billion.

Jagdishan said the bank was the one to initiate talks for a merger in October-November 2021 and HDFC came back to it in February. The nitty-gritties were thrashed out over the next two months. “Contrary to the belief, we batted on the front foot. Normally for 25-year history, we were always on the back foot, saying that we are not too keen or not too sure about it. But this time around, we went on the front foot, saying we want this merger,” Jagdishan said.

HDFC Bank will not need to raise incremental liabilities to meet regulatory requirements on statutory liquidity ratio because it is sitting on an excess, Jagdishan said. The ability to meet priority sector requirements is also much better now.

Half of what the bank will need to meet its priority sector requirements will be raised through priority sector lending certificates. “The balance 50% of Rs 80,000-90,000 crore is something that we have 33 months from today to generate liabilities in any form and put it in priority sector assets or even in rural infrastructure development bonds,” Jagdishan said.

Analysts who attended the conference continue to have questions on HDFC Bank’s ability to raise incremental liabilities. Emkay Global Financial Services said in a report the additional PSL requirement of Rs 2.1 trillion in FY25 remains a key regulatory drag. “Overall, factoring in the regulatory requirements and assuming 20% of high-cost HDFC borrowing are replaced, our workings suggest that the bank will have to mobilise deposits to the tune of Rs 5.5 trillion over FY24-25, which need to be met through a combination of growing vintage of branches and accelerated growth via some rate tinkering,” the report said.

Others expect the bank’s stock performance to improve gradually. HDFC Bank remains among preferred picks for Motilal Oswal Financial Services. “We expect the stock to recover gradually as revenue and margin revive over FY23, while further clarity emerges on several aspects related to its merger with HDFC,” the brokerage said on Wednesday.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:70:"https://www.financialexpress.com/wp-content/uploads/2022/05/HDFC-2.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:134:"Half of what the bank will need to meet its priority sector requirements will be raised through priority sector lending certificates. ";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:78:"https://www.financialexpress.com/wp-content/uploads/2022/05/HDFC-2-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:60;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:81:"SBI to focus on digital agenda; partner with fintech firms, NBFCs to drive growth";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:146:"https://www.financialexpress.com/industry/banking-finance/sbi-to-focus-on-digital-agenda-partner-with-fintech-firms-nbfcs-to-drive-growth/2545447/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Wed, 01 Jun 2022 20:36:50 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:3:"SBI";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:146:"https://www.financialexpress.com/industry/banking-finance/sbi-to-focus-on-digital-agenda-partner-with-fintech-firms-nbfcs-to-drive-growth/2545447/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:350:""The time is, therefore, opportune to undertake the much-needed transformation of the Bank with an eye on emerging trends in banking, especially in India. Your Bank will thus continue to accelerate its digital agenda both in front and back offices. The scope and reach of SBI YONO will be expanded further and with enhanced user experience," he said.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Anish Mondal";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-01T20:36:56+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:3443:"
State Bank of India (SBI) on Wednesday said it will endeavour to accelerate its digital agenda and forge partnerships with fintech firms and NBFCs to drive its business growth.

Overall FY22 has been a much better year compared to the previous year as the pace of economic activity picked up, SBI chairman Dinesh Khara said. The momentum is expected to continue, he said, adding opening up of the economy has reduced the need for a fresh stimulus package and the current momentum appears sustainable.

Thus, for the bank, it is imperative that the business keeps adapting to the new operating environment, he said in his letter to shareholders published in the annual report for FY22.

&#8220;The time is, therefore, opportune to undertake the much-needed transformation of the Bank with an eye on emerging trends in banking, especially in India. Your Bank will thus continue to accelerate its digital agenda both in front and back offices. The scope and reach of SBI YONO will be expanded further and with enhanced user experience,&#8221; he said.

In business operations, the bank will leverage advanced analytics for deeper insights on internal data and its best possible usage, he said, adding that mutually beneficial partnerships with fintech firms and NBFCs will be explored further to increase the penetration and reach of the bank.

Observing that a panoramic view of the bank&#8217;s financial performance over the last few years shows discernible improvement in all parameters, he said despite the challenges posed by the operating environment, the bank today has a better loss-absorbing capability.

The bank&#8217;s risk management practices have delivered better results, especially in containing the slippages, and it is comfortably placed in terms of growth capital in the current year, Khara noted.

Opportunities for lending in promising spaces such as sectors identified under Production Linked Incentive (PLI) scheme and renewables as well as electric mobility will be explored to diversify the portfolio, he added.

Talking about challenges, Khara said, the CPI inflation remains a worry even though the projected average is below 6 per cent in FY2023 by the Reserve Bank. The risks could emanate from a further hardening of global crude and other commodity prices due to geopolitical tensions, longer supply chain disruptions, a larger pass-through of input cost pressures and volatility in the global financial markets induced by an affirmative normalisation of monetary policy by the advanced economies.

An early end to supply chain disruptions, a muted pass-through to output prices, correction in global commodity prices and an easing of geopolitical tensions would help in containing inflation within the projected levels, he added.

Khara also said that there is uncertainty on how the demand will pick up during this financial year.

Private final consumption is still below the pre-pandemic year and may see some erosion in the current year due to higher inflation. However, he said, investment demand has picked up gradually and there has been a substantial increase in new investment announcements amounting to Rs 19 lakh crore in FY22.

Going forward, he said, the bank&#8217;s business will depend upon the evolving geopolitical situation and its impact on global commodity prices and logistics.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:68:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-12.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:182:"Thus, for the bank, it is imperative that the business keeps adapting to the new operating environment, he said in his letter to shareholders published in the annual report for FY22.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:76:"https://www.financialexpress.com/wp-content/uploads/2022/06/1-12-300x166.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"166";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:61;a:6:{s:4:"data";s:23:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:55:"Ex-SBI executive Natarajan Sundar appointed NARCL chief";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:122:"https://www.financialexpress.com/industry/banking-finance/ex-sbi-executive-natarajan-sundar-appointed-narcl-chief/2544522/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Wed, 01 Jun 2022 08:30:38 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:4:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:14:"banking sector";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:3;a:5:{s:4:"data";s:5:"NARCL";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:122:"https://www.financialexpress.com/industry/banking-finance/ex-sbi-executive-natarajan-sundar-appointed-narcl-chief/2544522/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:137:"Sundar retired on April 30 as deputy managing director and chief credit officer at the bank, after having worked there for over 37 years.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:13:"anamika sinha";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-01T08:31:06+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:2286:"
Former State Bank of India (SBI) executive Natarajan Sundar has been appointed MD &amp; CEO of the National Asset Reconstruction Company (NARCL) with effect from May 30. Another former SBI employee, Karnam Sekar, who also headed Indian Overseas Bank (IOB) till June 30, 2020, has been appointed non-executive chairman of the bad bank. Sundar retired on April 30 as deputy managing director and chief credit officer at the bank, after having worked there for over 37 years.

“After his name was recommended for the position by NARCL board, the fit and proper approval was granted by the sectoral regulator, RBI on May 24, 2022. The previous incumbent, Mr. Padmakumar Nair, who was on a secondment basis from SBI has since been repatriated to the parent bank,” SBI said in a statement on Tuesday.

Malvika Sinha, who retired as executive director of the Reserve Bank of India (RBI), also joined the NARCL board as an independent director last week. In addition to the three new appointees, the board has five nominee directors from shareholder banks and another independent director is expected to join the board shortly. &#8220;With this the Board will have its full complement of 9 directors,&#8221; SBI said.

Fifteen Indian banks hold stakes in NARCL, with Canara Bank being the sponsor bank. Together with India Debt Resolution Company (IDRCL), NARCL is presently engaged in completing the financial and legal due diligence of the identified stressed accounts for acquisition. The bad bank is expected to make binding financial offers for a few accounts shortly, SBI said.

Once the bad bank makes binding offers, the next step will be for the lead lenders to convene joint lender meetings and then run a Swiss challenge auction with the NARCL&#8217;s offers as anchor bids.

The plan for asset transfer has been delayed on multiple occasions amid regulatory concerns about the dual structure of the bad bank. NARCL has already missed its March 31, 2022 deadline for acquisition of 15 assets worth Rs 50,000 crore.Executive vacancies at the bad bank have also slowed down its work. All the vacancies at NARCL are now set to be filled and the RBI&#8217;s approvals will be sought wherever required, SBI said earlier this month.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/06/NARCL.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:83:"Fifteen Indian banks hold stakes in NARCL, with Canara Bank being the sponsor bank.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/06/NARCL-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:62;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:55:"Bank credit to industry in April grows fastest in 8 yrs";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:122:"https://www.financialexpress.com/industry/banking-finance/bank-credit-to-industry-in-april-grows-fastest-in-8-yrs/2544449/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Wed, 01 Jun 2022 04:37:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:14:"banking sector";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:122:"https://www.financialexpress.com/industry/banking-finance/bank-credit-to-industry-in-april-grows-fastest-in-8-yrs/2544449/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:242:"ICICI Bank, too, has enhanced its focus on the small business segment. In April, the private lender launched a digital platform aimed at offering comprehensive business solutions to its SME customers, similar to what it offers for corporates.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Anish Mondal";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-06-01T04:37:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:2546:"
Bank credit to industry grew at its fastest pace in eight years in April 2022, showed sectoral data released by the Reserve Bank of India (RBI) on Tuesday. The value of loans deployed in the industrial sector — including large, medium, small and micro industry — grew 8.1% year-on-year (y-o-y) to `31.52 trillion as on April 22.

Credit to medium enterprises grew at the fastest pace of 53.5% y-o-y, while loans to micro and small enterprises grew 29%. Growth in the large enterprises segment lagged at 1.6%. Over the last two years, banks have increased their exposure to medium and small enterprises while implementing the government’s Emergency Credit Line Guarantee Scheme (ECLGS), aimed at supporting small business through the pandemic.

Of late, banks have turned aggressive in the MSME segment, hoping to cash in on the recovery being witnessed across sectors. Earlier this month, State Bank of India (SBI) chairman Dinesh Khara told investors that the bank expects to see stronger growth coming in the SME segment in the quarters ahead. “We have structurally strengthened our delivery process in SME in the last one year, so that should help,” Khara said, adding that the lender is still upgrading its processes. “So, that should help us in seeing better numbers in SME.”

ICICI Bank, too, has enhanced its focus on the small business segment. In April, the private lender launched a digital platform aimed at offering comprehensive business solutions to its SME customers, similar to what it offers for corporates.

Rakesh Jha, chief financial officer, ICICI Bank, told analysts after the bank’s Q4FY22 results that the bank is focusing on all aspects of its SME customers’ business. “So it’s not just about the loan, but also the float income on the current account side, FX and trade and all the other income that we get from the customers,” Jha said. The bank’s strong growth in the segment is the result of the investments it has made in technology for servicing the customers in this segment, he added.

Growth in the corporate segment has also been improving for most banks, with commodity price inflation and an improvement in consumption driving demand for loans. SBI’s corporate book grew 6.35% y-o-y during the quarter ended March, and the bank attributed it to good demand in the infrastructure segment. However, much of the wholesale lending in the banking sector remains tied to working capital and capex-led demand is yet to become entrenched.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/05/1-962.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:176:"The value of loans deployed in the industrial sector — including large, medium, small and micro industry — grew 8.1% year-on-year (y-o-y) to `31.52 trillion as on April 22.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/05/1-962-300x166.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"166";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:63;a:6:{s:4:"data";s:21:" 
 
 
 
 
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The government is at an advanced stage of finalising plans to privatise two state-run banks in sync with the Budget announcement made last year.

Speaking at an event here on Monday, financial services secretary Sanjay Malhotra said, &#8220;In so far as bank privatisation is concerned, there is already a statement on the floor of the House by the finance minister for making enabling provision. Advance action on this is under way.&#8221;

In the Budget for 2021-22, the government had announced its intent to privatise two public sector banks and one general insurer. Sources had earlier said NITI Aayog had recommended Central Bank of India and Indian Overseas Bank as possible candidates to the core group of secretaries on disinvestment for privatisation.

The Banking Laws (Amendment) Bill, 2021, was listed as part of the legislative business for the winter session of Parliament that concluded on December 23, 2021. However, the government deferred the plan amid protests by bank unions.

Speculations about the government reviving the proposal gained traction after the assembly polls in key states, including Uttar Pradesh, concluded earlier this year.

The draft Bill may suggest the requirement that minimum government holding in PSBs be trimmed to 26% from 51%. The government may also be open to giving up its entire stake in select banks subsequently to garner investors’ interests.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/05/1-438.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:129:"In the Budget for 2021-22, the government had announced its intent to privatise two public sector banks and one general insurer. ";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/05/1-438-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:64;a:6:{s:4:"data";s:21:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:61:"NBFC-MFI sector stressed assets drops 800 bps to 14% in March";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:127:"https://www.financialexpress.com/industry/banking-finance/nbfc-mfi-sector-stressed-assets-drops-800-bps-to-14-in-march/2542961/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Tue, 31 May 2022 03:30:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:2:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:127:"https://www.financialexpress.com/industry/banking-finance/nbfc-mfi-sector-stressed-assets-drops-800-bps-to-14-in-march/2542961/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:123:"The new loan book of NBFC-MFIs, which include loans disbursed after July 2021, has witnessed stressed assets of up to 1-2%.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:17:"Subhajit Dasgupta";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-05-31T03:30:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:1722:"
Stressed assets of non-banking financial companies-microfinance institutions (NBFC-MFIs) has declined to around 14% as of March 2022 on account of improved economy and increased collections, Crisil Ratings said in a report.

The current stressed assets of NBFC-MFI, which include loans that were unpaid for more than 30 days, declined by 800 basis points in March from 22% in September 2021.

However, the stressed assets are significantly higher than the pre-pandemic levels of 3%.

“The reduction in stressed assets, along with improved collection efficiencies mark a recovery in the asset quality of NBFC-MFIs, supported by economic revival, limited impact of the omicron variant, and acclimatisation to the post-pandemic ‘new normal’,” the report said.

The new loan book of NBFC-MFIs, which include loans disbursed after July 2021, has witnessed stressed assets of up to 1-2%. Overall monthly collection efficiency averaged at 97-100% in the quarter ended March 31.

“The microfinance sector restructured 10% of its loan book…in the wake of the second Covid-19 wave, compared with a mere 1-2% in the first. The extent of this varied between entities from 2% to 17% and had a strong correlation with the regional impact of the second wave, which had affected the informal economy and rural India more drastically than the first,” Krishnan Sitaraman, senior director and deputy chief ratings officer, CRISIL Ratings, said in the report.

“Collection efficiency of the restructured book, billing for which began in the final quarter of last fiscal, is currently at 60-65%. This indicates higher probability of slippages,” he further said. ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:70:"https://www.financialexpress.com/wp-content/uploads/2022/05/money1.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:89:"Overall monthly collection efficiency averaged at 97-100% in the quarter ended March 31.
";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:78:"https://www.financialexpress.com/wp-content/uploads/2022/05/money1-300x194.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"194";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:65;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:51:"Payments ecosystem not fully ready for tokenisation";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:118:"https://www.financialexpress.com/industry/banking-finance/payments-ecosystem-not-fully-ready-for-tokenisation/2542784/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Tue, 31 May 2022 01:00:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:14:"Bank of Baroda";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:118:"https://www.financialexpress.com/industry/banking-finance/payments-ecosystem-not-fully-ready-for-tokenisation/2542784/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:211:"The Bank of Baroda (BoB) management said with merchants unable to migrate to the new system, we could see some breakdown in settlements, reconciliation and services such as refunds, cash-backs and charge-backs. ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:5:"guest";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-05-31T01:00:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:3236:"
By Shashank Didmishe

With the June-end deadline for the mandated card-on-file tokenisation system fast approaching, bankers are concerned that the payments ecosystem as well as most of the merchants are unprepared for the new regime. Given that a significant volume of transactions take place through cards, they fear this could result in some loss of business.

The Bank of Baroda (BoB) management said with merchants unable to migrate to the new system, we could see some breakdown in settlements, reconciliation and services such as refunds, cash-backs and charge-backs. BoB has so far tokenized more than 20% of its active e-commerce debit card base. “From the perspective of an acquirer, we will rollout the solution for merchants within the timeline,” the lender said. BoB had enabled debit card tokenization before December 31, 2021.

Other banks, too, have pointed out that while bigger merchants are ready with the tokenization system, smaller ones may not be ready by July 1.

Dewang Neralla, CEO of NTT DATA Payment Services, observed that while generating token numbers for plain vanilla transactions involving credit and debit cards should not pose too many problems, customers are likely to face some issues when it comes to recurring payments, EMIs, offers, refunds and charge backs. “Merchants involved in recurring transactions may not be able to generate token numbers,” he said.

Rohit Kumar, co-founder of policy consultancy firm The Quantum Hub, pointed out that it was not merely a question of generating a token number, but also the time taken for processing the token. “So far, some of the major players are able to process eight to 10 transactions per second, but the ideal processing speed should be around 2,000 transactions per second,” he said.

Vishal Mehta, chair of the governing council of the Merchant Payments Alliance of India, said despite claims of readiness with tokenisation, the reality is that the back-end infrastructure is not ready to create tokens and process payments simultaneously. Nor is it ready to process large transaction volumes on tokens created in real time,” Mehta said.

In December last year, the Reserve Bank of India (RBI) had extended the deadline for card tokenization by six months till June 30, 2022 following requests from both payments players and merchants. The RBI wants all customer card details stored by merchants and payment gateways to be purged by June 30, 2022. The new system will not store the 16-digit card number and the expiry date when a digital transaction is done on a website. The payment will be made through a process called tokenisation by which card details are replaced by a random or unique code or token. This prevents the card details from being exposed, and enhances data security. Only card issuers and card networks can store customer data.

In addition to tokenisation, industry players may devise alternative mechanisms to handle recurring e-mandates, dispute resolution or reward programmes which currently involve storage of CoF (card-on-file) data by entities other than card issuers and card networks. Aggregators and merchants cannot store data.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:80:"https://www.financialexpress.com/wp-content/uploads/2022/03/Bank-of-Baroda-2.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:80:"BoB has so far tokenized more than 20% of its active e-commerce debit card base.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:88:"https://www.financialexpress.com/wp-content/uploads/2022/03/Bank-of-Baroda-2-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:66;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:60:"Advance action on bank privatisation underway: DFS secretary";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:126:"https://www.financialexpress.com/industry/banking-finance/advance-action-on-bank-privatisation-underway-dfs-secretary/2542628/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Mon, 30 May 2022 17:39:08 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:14:"banking sector";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:126:"https://www.financialexpress.com/industry/banking-finance/advance-action-on-bank-privatisation-underway-dfs-secretary/2542628/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:237:"As per the process, the core group of secretaries, headed by the Cabinet secretary, will send its recommendation to Alternative Mechanism (AM) for its approval and eventually to the Cabinet headed by the prime minister for the final nod.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Anish Mondal";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-05-30T17:39:54+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:1944:"
Advance action is underway for privatisation of two public sector banks in pursuance of the announcement made by finance minister Nirmala Sitharaman, Department of Financial Services secretary Sanjay Malhotra said on Monday.

In the Union Budget for 2021-22, the government announced its intent to take up the privatisation of two PSBs (Public Sector Banks) in the year and approved a policy of strategic disinvestment of public sector enterprises.

&#8220;In so far as banking privatisation is concerned, there is already a statement on the floor of the house by the finance minister for making enabling provision. Advance action on this is underway,&#8221; he said during the curtain raiser event &#8216;Iconic Week of the Finance Ministry&#8217; to be held between June 6 and 12.

In the Union Budget for the financial year 2021-22, the government had announced its intent to take up privatisation of two PSBs in the year and approval of a policy of strategic disinvestment of public sector enterprises, Sitharaman had said in Parliament.

Government think-tank NITI Aayog has already suggested two banks and one insurance company to the core group of secretaries on disinvestment for privatisation. According to sources, Central Bank of India and Indian Overseas Bank are likely candidates for privatisation.

As per the process, the core group of secretaries, headed by the Cabinet secretary, will send its recommendation to Alternative Mechanism (AM) for its approval and eventually to the Cabinet headed by the prime minister for the final nod.

The members of the core group of secretaries include economic affairs secretary, revenue secretary, expenditure secretary, corporate affairs secretary, legal affairs secretary, Department of Public Enterprises secretary, Department of Investment and Public Asset Management (DIPAM) secretary and an administrative department secretary.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/05/1-908.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:308:""In so far as banking privatisation is concerned, there is already a statement on the floor of the house by the finance minister for making enabling provision. Advance action on this is underway," he said during the curtain raiser event 'Iconic Week of the Finance Ministry' to be held between June 6 and 12.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/05/1-908-300x166.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"166";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:67;a:6:{s:4:"data";s:20:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:90:"Stressed assets of NBFC-MFIs likely declined to 14 pc as of end-March 2022: Crisil Ratings";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:156:"https://www.financialexpress.com/industry/banking-finance/stressed-assets-of-nbfc-mfis-likely-declined-to-14-pc-as-of-end-march-2022-crisil-ratings/2542458/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Mon, 30 May 2022 16:14:28 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:1:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:156:"https://www.financialexpress.com/industry/banking-finance/stressed-assets-of-nbfc-mfis-likely-declined-to-14-pc-as-of-end-march-2022-crisil-ratings/2542458/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:219:"Stressed assets of NBFC-MFIs, which comprise of 30+ Portfolio at Risk (PAR) and loan book restructuring remains well above the pre-pandemic level of around 3 per cent, Crisil Ratings said in a report released on Monday.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:14:"Shriparna Saha";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-05-30T16:14:35+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:3270:"
Stressed assets of non-banking financial companies- microfinance institutions (NBFC-MFIs) are estimated to have declined to around 14 per cent as of March 2022 from close to 22 per cent in September 2021, helped by revival in the economy and limited impact of the omicron variant, says a report.

However, stressed assets of NBFC-MFIs, which comprise of 30+ Portfolio at Risk (PAR) and loan book restructuring remains well above the pre-pandemic level of around 3 per cent, Crisil Ratings said in a report released on Monday.

&#8220;Stressed assets of NBFC-MFIs are estimated to have declined a significant 800 basis points to around 14 per cent as of March 2022, after peaking to approximately 22 per cent in September 2021,&#8221; the report said.

The reduction in stressed assets, along with improved collection efficiencies mark a recovery in the asset quality of NBFC-MFIs, supported by economic revival, limited impact of the omicron variant, and acclimatisation to the post pandemic &#8216;new normal&#8217;, it said.

The newly originated book (loans disbursed after July 2021) of NBFC-MFIs has demonstrated a steady performance, with 30+ PAR estimated at just 1-2 per cent. Overall monthly collection efficiency was healthy at an average 97-100 per cent in the fourth quarter of last fiscal, the rating agency said.

However, foreclosures were higher in the last quarter of last fiscal. That, and the trend in the restructured book need close monitoring to assess incremental slippages, it said.

The agency&#8217;s Senior Director and Deputy Chief Ratings Officer Krishnan Sitaraman said the microfinance sector restructured around 10 per cent of its loan book under the Resolution Framework 2.0 announced by the Reserve Bank of India (RBI) in the wake of the second Covid-19 wave, compared with a mere 1-2 per cent in the first.

The extent of this varied between entities from 2 per cent to 17 per cent and had a strong correlation with the regional impact of the second wave, which had affected the informal economy and rural India more drastically than the first, it said. &#8220;Collection efficiency of the restructured book, billing for which began in the final quarter of last fiscal, is currently at 60-65 per cent. This indicates a higher probability of slippages,&#8221; Sitaraman said.

Given the sizeable restructuring and likely slippages &#8212; since they cater to the more vulnerable sections of society &#8212; most NBFC-MFIs have increased provisioning to fortify their balance sheets against asset quality risks, the agency said. Now that the RBI has removed the interest margin cap on lending rates under the new regulatory framework for microfinance loans, they will also have the flexibility to adopt risk-based pricing which can provide headroom to further enhance provisioning buffers if required, it said.

&#8220;NBFC-MFIs increased provisions to nearly 6 per cent of the loan book as of March 2022 from only 2.5 per cent as of March 2020. With the adoption of risk-based pricing, they will likely continue to maintain higher provisions in their attempt to build a more resilient balance sheet,&#8221; the agency&#8217;s Director Poonam Upadhyay said.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/05/nbfc.jpeg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:127:"The reduction in stressed assets, along with improved collection efficiencies mark a recovery in the asset quality of NBFC-MFIs";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/05/nbfc-300x167.jpeg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:68;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:43:"Microfinance industry veteran P Satish dies";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:110:"https://www.financialexpress.com/industry/banking-finance/microfinance-industry-veteran-p-satish-dies/2541734/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Mon, 30 May 2022 06:30:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:12:"microfinance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:110:"https://www.financialexpress.com/industry/banking-finance/microfinance-industry-veteran-p-satish-dies/2541734/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:128:"He had completed his Ph. D in Economics from Panjab University, Chandigarh in the area of agricultural credit markets in Punjab.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Subham Mitra";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-05-30T06:30:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:1276:"
Microfinance industry veteran and executive director of industry body Sa-Dhan, P Satish, passed away on Sunday.

Satish died at his New Delhi apartment of heart attack in the morning, according to officials of Sa-Dhan. He was 65.

Satish was an executive director of Sa-Dhan, a self-regulatory organisation for the microfinance sector, since 2015. He was a member of the Financial Inclusion Advisory Committee of the Reserve Bank of India, the SHG-Bank Linkage Programme Strategic Advisory Board of NABARD, and the governing council of Bankers&#8217; Institute of Rural Development (BIRD), Lucknow.

He was also on the steering committee of the PM SVANidhi scheme of the ministry of housing &amp; urban affairs and the microfinance sub-group of the NITI Aayog. Satish was a director on the boards of MUDRA (2015-20) and India Post Payments Bank (2018-21). He was earlier the chief general manager heading the Micro Credit Innovations Department (MCID) of NABARD.

He was an MBA (Finance) from Osmania University, Hyderabad and had an MS in Economics from the University of Illinois at Urbana-Champaign, USA. He had completed his Ph. D in Economics from Panjab University, Chandigarh in the area of agricultural credit markets in Punjab.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:80:"https://www.financialexpress.com/wp-content/uploads/2022/05/Cash-or-Rupee-07.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:128:"Satish died at his New Delhi apartment of heart attack in the morning, according to officials of Sa-Dhan. (Representative image)";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:88:"https://www.financialexpress.com/wp-content/uploads/2022/05/Cash-or-Rupee-07-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:69;a:6:{s:4:"data";s:23:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:70:"Public-sector bank top brass to get extra cover for bonafide decisions";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:137:"https://www.financialexpress.com/industry/banking-finance/public-sector-bank-top-brass-to-get-extra-cover-for-bonafide-decisions/2541709/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Mon, 30 May 2022 05:00:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:4:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:10:"Bank loans";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:3;a:5:{s:4:"data";s:14:"banking sector";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:137:"https://www.financialexpress.com/industry/banking-finance/public-sector-bank-top-brass-to-get-extra-cover-for-bonafide-decisions/2541709/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:168:"Having remained subdued over most part of the last two years, credit growth has improved in recent months, and the government wants this momentum to accelerate further.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Subham Mitra";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-05-30T05:00:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:4644:"
The government is considering a proposal to grant greater protection to senior executives of state-run banks, akin to the immunity enjoyed by government servants, to shield them from easy arrests and harassment for “honest business errors” and encourage them to lend without fear, official and banking sources told FE.

One of the proposals being weighed aims to ensure that public-sector bankers are granted protection (like government officials) under Section 197 of the Code of Criminal Procedure (CrPC). This section prohibits the courts from taking cognisance of criminal charges against government servants without prior sanction of the competent authority.

“The finance ministry and the Indian Banks’ Association (IBA), which has been pushing for higher protection to bankers, are in talks on this issue,” said one of the sources. Once the finance ministry endorses the proposal, it will be sent to the ministry of law for vetting, he added.

Bankers say, according to extant guidelines, to arrest senior officials of a PSB up to the level of general managers, the approval of the managing director of the bank is required. Similarly, the approval of the department of financial services is needed to arrest the MDs or executive directors of PSBs. However, these guidelines have often been flouted by state police on one pretext or another, which will only change once the protection is enshrined in the CrPC, they added.

The move to accord greater protection to PSB staff on honest commercial decisions comes at a time when the government is nudging state-run banks to satiate the growing credit appetite of investors and help spur economic growth. Following a spate of high-profile arrests in recent years, public-sector bankers feel the extant mechanism has proved to be inadequate to curb arbitrary actions, especially by local police. The arrests also prompted them to turn more risk-averse, which weighed on the broader credit disbursement.

Having remained subdued over most part of the last two years, credit growth has improved in recent months, and the government wants this momentum to accelerate further. Non-food bank credit grew 9.7% in March, compared with 8% in the previous month and 4.5% a year before. However, loans to industry grew at a slower pace of 7.1% even on a marginally-contracted base.

The clamour for a more robust protection mechanism grew shriller after former State Bank of India (SBI) chairman Pratip Chaudhury was suddenly arrested by Rajasthan police in an alleged loan fraud case last year, long after his retirement, on the basis of a warrant issued by the Jaisalmer court. The allegations (labelled by defaulters) against Chaudhuri included borrowers’ properties worth Rs 200 crore being sold for Rs 25 crore after SBI had seized them for non-repayment of the loan. The bank sold the properties to Alchemist Asset Reconstruction Company a good six months after Chaudhuri had retired. SBI defended its former chairman. Chaudhuri got bail, but not before 8-9 days.

Similarly, in 2018, Bank of Maharashtra chief executive Ravindra Prabhakar Marathe, his predecessor and other top officials were arrested in a Rs 2,043-crore loan fraud case. However, within about four months, the Pune police filed a closure report for lack of evidence.

To discourage such actions, the department of personnel &amp; training, in a circular in September 2021, stipulated standard operating procedures for tackling cases under Section 17A of the Prevention of Corruption Act (PCA). The circular says any police investigation on decisions taken by public servants while discharging their duties will require prior approval from the competent authority. In fact, Section 17A was inserted in the PCA in July 2018. Still, these measures didn’t stop the arrests of bankers by state police.

“Despite good intention and the support for bankers announced by the central government, bankers are still being hounded, mainly by state police. Moreover, it is observed that senior bankers are targeted, often by defaulters, after their retirement. All these have to stop,” said the executive director of a state-run bank.

Late last year, the government finalised a consolidated staff accountability framework for bad loan accounts up to Rs 50 crore. The framework, which came into force on April 1, 2022, is meant to identify and punish only those bank officers who are prima facie responsible for the lapses or non-compliance of laid-down procedures or misconduct and/or non-adherence to the “due-diligence” norms.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:70:"https://www.financialexpress.com/wp-content/uploads/2022/05/Bank-1.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:124:"Similarly, the approval of the department of financial services is needed to arrest the MDs or executive directors of PSBs. ";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:78:"https://www.financialexpress.com/wp-content/uploads/2022/05/Bank-1-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:70;a:6:{s:4:"data";s:20:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:65:"Bank of Maharashtra tops PSU lenders chart in loan growth in FY22";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:132:"https://www.financialexpress.com/industry/banking-finance/bank-of-maharashtra-tops-psu-lenders-chart-in-loan-growth-in-fy22/2541329/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Sun, 29 May 2022 13:12:20 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:1:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:132:"https://www.financialexpress.com/industry/banking-finance/bank-of-maharashtra-tops-psu-lenders-chart-in-loan-growth-in-fy22/2541329/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:153:"The Pune-headquartered lender recorded a 26 per cent increase in gross advances at Rs 1,35,240 crore at the end of March 2022, according to the BoM data.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:14:"Shriparna Saha";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-05-29T13:12:25+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:1991:"
State-owned Bank of Maharashtra (BoM) has emerged as the top performer among public sector lenders in terms of loan and deposit growth in percentage terms during 2021-22. The Pune-headquartered lender recorded a 26 per cent increase in gross advances at Rs 1,35,240 crore at the end of March 2022, according to the BoM data.

It was followed by State Bank of India and Union Bank of India with 10.27 per cent and 9.66 per cent growth, respectively. However, in absolute terms, aggregate loans of SBI were nearly 18 times higher at Rs 24,06,761 crore while Union Bank of India&#8217;s five times higher at Rs 6,99,269 crore compared to that of BoM&#8217;s at the end of fourth quarter.

With regard to deposit growth, BoM witnessed a 16.26 per cent growth and mobilised Rs 2,02,294 crore at the end of March 2022. Union Bank of India was second with an 11.99 per cent growth in deposits (Rs 10,32,102 crore) while Indian Bank recorded a 10 per cent increase at Rs 5,84,661 crore, according to the published data.

Total business growth of BoM was also the highest at 20 per cent at Rs 3,37,534 crore followed by Union Bank of India at 11.04 per cent at Rs 17,31,371 crore at the end of FY&#8217;22. In terms of RAM (retail, agriculture and MSME) segment, BoM registered the highest growth rate of 18.65 per cent at Rs 80,669 crore.

The bank&#8217;s gross NPAs nearly halved to 3.94 per cent from 7.23 per cent in March 2021, while net NPAs more than halved to 0.97 per cent from 2.48 per cent in March 2021.

For the full year to March, the lender saw its net profit rising two-fold to Rs 1,152 crore as against Rs 550 crore in FY21.mBoM is eyeing a 25-30 per cent growth in its net profit in the current financial year, aided by a healthy growth in net interest income (NII) and fall in provisions for bad assets.

NII grew by 23.42 per cent on a year-on-year basis to Rs 6,044 crore in FY2022, as against Rs 4,897 crore in FY2021.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:89:"https://www.financialexpress.com/wp-content/uploads/2022/05/bank-of-maharashtra-1200.jpeg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:86:"BoM is eyeing a 25-30 per cent growth in its net profit in the current financial year,";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:97:"https://www.financialexpress.com/wp-content/uploads/2022/05/bank-of-maharashtra-1200-300x167.jpeg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:71;a:6:{s:4:"data";s:20:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:39:"City Union Bank Q4 net profit jumps 88%";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:105:"https://www.financialexpress.com/industry/banking-finance/city-union-bank-q4-net-profit-jumps-88/2540636/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Sat, 28 May 2022 09:19:15 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:1:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:105:"https://www.financialexpress.com/industry/banking-finance/city-union-bank-q4-net-profit-jumps-88/2540636/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:105:"Total income of the private sector lender went up by 10% to Rs 1,253 crore, compared with Rs 1,135 crore.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:14:"Shriparna Saha";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-05-28T09:19:57+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:899:"
City Union Bank (CUB) on Friday reported net profit of Rs 209 crore for the fourth quarter of FY22 as against Rs 111 crore in the corresponding quarter of last fiscal, registering a growth of 88%. Total income of the private sector lender went up by 10% to Rs 1,253 crore, compared with Rs 1,135 crore.

Gross NPA of the bank stood at Rs 1,933 crore at 4.7% to gross advances as compared to Rs 1,893 crore (5.11%). Net NPA was at Rs 1,191 crore at 2.95% to net advances as compared to Rs 1,075 crore (2.97%).

The provision coverage ratio was at 64%. The bank’s capital adequacy as per the RBI guidelines on Basel III norms was at 20.85% and tier-1 capital adequacy was at 19.78%, well above regulatory requirements, CUB said in a release.

For the entire fiscal year FY22, the bank&#8217;s net profit rose by 28.2% to Rs 760.17 crore, from Rs 592.82 crore in FY21.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:80:"https://www.financialexpress.com/wp-content/uploads/2022/05/city-union-bank.jpeg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:49:"City Union Bank profit rose by 28.2% to Rs 760.17";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:88:"https://www.financialexpress.com/wp-content/uploads/2022/05/city-union-bank-300x167.jpeg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:72;a:6:{s:4:"data";s:24:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:65:"RBI’s red flag for NBFCs: Shadow banks face tighter supervision";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:128:"https://www.financialexpress.com/industry/banking-finance/rbis-red-flag-for-nbfcs-shadow-banks-face-tighter-supervision/2540415/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Sat, 28 May 2022 03:30:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:5:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:4:"NBFC";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:3;a:5:{s:4:"data";s:5:"NBFCs";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:4;a:5:{s:4:"data";s:3:"RBI";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:128:"https://www.financialexpress.com/industry/banking-finance/rbis-red-flag-for-nbfcs-shadow-banks-face-tighter-supervision/2540415/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:93:"The review of the supervisory architecture will follow a year of regulatory revamp for NBFCs.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:17:"Subhajit Dasgupta";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-05-28T03:30:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:2443:"
The Reserve Bank of India (RBI) intends to tighten the supervisory architecture for non-banking financial companies (NBFCs) in view of the systemic risks emerging from their size and interconnectedness.

“Higher risk appetite of NBFCs has…contributed over time to their size, complexity, and interconnectedness, thus, making some of the entities systemically significant that pose potential threat to financial stability,” the RBI said in its annual report for FY22. &#8220;The balance sheet of NBFCs expanded in 2021-22, but asset quality in the sector deteriorated,” the report observed.

Considering the significant share of funding absorbed by NBFCs at the system level, continued attention to their financial health is warranted from the viewpoint of financial stability, the report added.

“NBFCs and urban cooperative banks (UCBs) will have to be mindful of frailties, wherever they exist, in their balance sheets and ensure robust asset-liability management, apart from improving the quality of their credit portfolios,” the annual report stated.

The review of the supervisory architecture will follow a year of regulatory revamp for NBFCs.

Through multiple circulars in FY22, the RBI has detailed the new scale-based regulatory framework for non-bank lenders and issued fresh guidelines for microfinance institutions (MFIs).

In the current year, the regulator plans to review the supervisory framework and the return format for NBFCs under the Indian Accounting Standards (Ind-AS) based on the regulatory guidance in the matter. The RBI will also make changes in sectoral assessment in the context of the scale-based regulatory framework and roll out key risk indicators (KRIs) for NBFCs to assess their cybersecurity risk profile. An information technology (IT) examination for select NBFCs is also on the cards.

The revised supervisory framework will include the implementation of a risk-based approach for KYC supervision of select NBFCs and guidelines on the compliance function. A unified fraud reporting system is being envisaged for all supervised entities, who will also be made to undertake cyber security enhancement measures.

The RBI intends to further strengthen the audit mechanisms at NBFCs and also to scale up operations of the college of supervisors (CoS) for capacity development and skill enhancement of its supervisory staff.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:84:"https://www.financialexpress.com/wp-content/uploads/2022/05/RBI-Reuters-logo-1-1.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:184:"Through multiple circulars in FY22, the RBI has detailed the new scale-based regulatory framework for non-bank lenders and issued fresh guidelines for microfinance institutions (MFIs).";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:92:"https://www.financialexpress.com/wp-content/uploads/2022/05/RBI-Reuters-logo-1-1-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:73;a:6:{s:4:"data";s:23:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:68:"Kotak bank shares 811 update, Uday Kotak introduces son to investors";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:134:"https://www.financialexpress.com/industry/banking-finance/kotak-bank-shares-811-update-uday-kotak-introduces-son-to-investors/2540474/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Sat, 28 May 2022 01:30:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:4:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:19:"Kotak Mahindra Bank";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:3;a:5:{s:4:"data";s:10:"Uday Kotak";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:134:"https://www.financialexpress.com/industry/banking-finance/kotak-bank-shares-811-update-uday-kotak-introduces-son-to-investors/2540474/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:155:"According to analysts who attended the investor call, KMB added nearly four million customers through 811 in FY22, taking the total count to 12.3 million. ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:17:"Subhajit Dasgupta";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-05-28T01:30:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:2368:"
With Uday Kotak, vice-chairman and chief executive of Kotak Mahindra Bank, introducing his son Jay Kotak during an investor meeting in Mumbai on Thursday, the markets will now closely monitor the course of succession planning at the private sector lender. The senior Kotak’s tenure at the helm comes to an end in December 2023. Jay Kotak is currently co-head of the of the bank&#8217;s digital-only platform, 811, which accounts for close to 30% of the bank&#8217;s savings account sourced during Q4FY22.

&#8220;We will be closely watching the succession planning, with possibly two EDs in the fray (KVS Manian and Shanti Ekambaram) for the MD position, and the impact, if any, of potential holdco norms by the RBI,” analysts at Emkay said in a report.

Earlier this month, Uday Kotak had said he would be with the bank at least till his term ends. “Right now, my tenure is till December 2023 and you are going to see me at least till then,” Kotak had said, adding, “Our board members are fully aware of their responsibilities and they will act in a manner which is appropriate and responsible.”

According to analysts who attended the investor call, KMB added nearly four million customers through 811 in FY22, taking the total count to 12.3 million. The number of monthly active users stood at 6.2 million, or half of the overall 811 customer base. The average balance in 811 savings bank accounts was relatively low at Rs 6,100 per account, as compared to Rs 38,000 at the overall bank level. This seems to be low when compared to peer banks, Emkay analysts observed. The 811 product&#8217;s contribution to incremental recurring deposits (RDs) was 34% in Q4, and to new personal loans and non-life insurance premiums, it was 32%.

The bank’s management told analysts that the overall throughput is a better metric to track instead of savings balances, since most of these customers are young and are predominantly high spenders.

Analysts took divergent views of 811’s performance. While Motilal Oswal Financial Services commended the execution of KMB’s digital strategy, analysts at Emkay attributed the success of 811 to the higher savings rate offered by the bank. Since the launch of the platform, the bank’s current account savings account (CASA) ratio has improved to 61% from 44% in FY17.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:83:"https://www.financialexpress.com/wp-content/uploads/2022/05/Kotak-Mahindra-Bank.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:91:"https://www.financialexpress.com/wp-content/uploads/2022/05/Kotak-Mahindra-Bank-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:74;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:46:"RBI rolls out digital-heavy agenda for 2022-23";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:113:"https://www.financialexpress.com/industry/banking-finance/rbi-rolls-out-digital-heavy-agenda-for-2022-23/2540399/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Sat, 28 May 2022 01:00:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:3:"RBI";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:113:"https://www.financialexpress.com/industry/banking-finance/rbi-rolls-out-digital-heavy-agenda-for-2022-23/2540399/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:145:"To implement norms on prudential lending by digital platforms, the RBI said it would have to work with other agencies, including the government. ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:5:"guest";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-05-28T01:00:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:3554:"
By Shashank Didmishe

The Reserve Bank of India&#8217;s agenda for 2022-23 is digital-heavy. The central bank announce lending norms for digital platforms, roll out a central bank digital currency, facilitate setting up of 75 digital banks and implement a geo-tagging framework. It has proposed several measures to bring about structural reforms in the digital payments and fintech space.

To implement norms on prudential lending by digital platforms, the RBI said it would have to work with other agencies, including the government. The central bank had in November issued a consultation paper on lending through online platforms. The recommendations include restricting balance-sheet lending by digital lending apps only to the regulated entities, rules to prevent illegal digital lending activities and treating ‘Buy Now Pay Later’ (BNPL) as part of balance-sheet lending.

With regard to the central bank digital currency (CBDC), the RBI is planning to adopt a graded approach such as proof of concept, pilot and the final launch. “The design of CBDC needs to be in conformity with the stated objectives of monetary policy, financial stability and efficient operations of currency and payment systems,” the RBI said.

The central bank will also facilitate setting up of 75 digital banking units in 75 districts, the report said. All public sector banks, 10 private banks and a small finance bank are working to operationalise digital banks by July 2022, the Indian Banks Association had said earlier.

In order to sensitise banks and other financial institutions to the risks related to climate change, the central bank is going to issue a consultative paper. The paper will familiarise banks with international practices and enable adoption of a strategic approach to climate-related risks. In January 2022, a RBI-mandated sustainable finance group did a survey with PSBs, private and foreign banks. The central bank will include the feedback in the paper on climate change risk.

In the payments space, the linkage between Unified Payments Interface and Singapore’s payments system PayNow is expected to be operationalised in the second half of 2022. The linkage will enable users of the two systems to make instant fund transfers without the need to get on-boarded on the other system.

The RBI said it will initiate the process to implement the geo-tagging framework, which will provide locations of existing payment touch points. The banks and other payments related entities can get insights on regional penetration of digital payments by monitoring infrastructure density across different locations.

The central bank will come out with a document ‘Formulation and Release of Payment System Vision 2025’ with its vision for the payments ecosystem. The RBI will internally implement a Robotic Process Automation solution for automation of routine and repetitive tasks. The regulator will also upgrade e-Kuber based on newer technologies with wider flexibility and stability.

It is taking appropriate measures for further popularisation of the RBI Retail Direct Scheme for improving its overall reach for suitable retail investors. The aim is to broaden the government securities market by increasing retail participation.

The RBI is expected to issue further draft guidelines on the other risk categories and output floor by June 2022, while the final guidelines will be issued by September 2022, the report said.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:70:"https://www.financialexpress.com/wp-content/uploads/2022/05/RBI-04.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:90:"RBI has several guidelines and mechanisms for receipt of export payments against services.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:78:"https://www.financialexpress.com/wp-content/uploads/2022/05/RBI-04-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:75;a:6:{s:4:"data";s:23:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:58:"RBI mulls paper to equip banks to brace for climate change";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:125:"https://www.financialexpress.com/industry/banking-finance/rbi-mulls-paper-to-equip-banks-to-brace-for-climate-change/2540394/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Sat, 28 May 2022 00:30:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:4:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:14:"Climate change";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:3;a:5:{s:4:"data";s:3:"RBI";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:125:"https://www.financialexpress.com/industry/banking-finance/rbi-mulls-paper-to-equip-banks-to-brace-for-climate-change/2540394/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:201:"In January 2022, the RBI-mandated Sustainable Finance Group (SFG) did a survey with PSU banks, private and foreign banks. The central bank will include the feedback in the paper on climate change risk.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:17:"Subhajit Dasgupta";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-05-28T00:30:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:1788:"
In order to sensitise banks and other financial institutions to the risks of climate change, the central bank is going to issue a consultative paper. The paper will familiarise banks with international practices and enable adoption of a strategic approach to climate-related risks.

“The physical and transition risks either individually or together may be high for India under the ‘current policies’ scenario. A successful implementation of emission reduction for India carries inflationary risks, which will need to be managed through carefully crafted transition plans,” the central bank said in its annual report for 2021-22.

In January 2022, the RBI-mandated Sustainable Finance Group (SFG) did a survey with PSU banks, private and foreign banks. The central bank will include the feedback in the paper on climate change risk.

The SFG coordinates with other national and international agencies on issues relating to climate change. The group will suggest strategies and study evolving a regulatory framework to mitigate climate related risks in the Indian context, which can be adopted by banks and other financial institutions.

If India sticks to its goal of global coordination to control temperature rise, it will reduce greenhouse gases and energy consumption. However, it will also likely cause a significant rise in commodity and carbon prices which can feed into inflation following higher input costs, the central bank said.

Separately, the government intends to issue sovereign green bonds to facilitate climate change transition.

In the Union Budget for 2022-23, the government had announced plans to issue sovereign green bonds in the domestic market as a part of its overall market borrowing programme.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/05/1-896.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:80:" The central bank will include the feedback in the paper on climate change risk.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/05/1-896-300x166.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"166";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:76;a:6:{s:4:"data";s:21:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:70:"Indian Bank declares 3 accounts with exposure worth Rs 362 cr as fraud";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:137:"https://www.financialexpress.com/industry/banking-finance/indian-bank-declares-3-accounts-with-exposure-worth-rs-362-cr-as-fraud/2540462/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Fri, 27 May 2022 20:35:48 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:2:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:137:"https://www.financialexpress.com/industry/banking-finance/indian-bank-declares-3-accounts-with-exposure-worth-rs-362-cr-as-fraud/2540462/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:180:"Three non-performing accounts have been declared as fraud and have been reported to the Reserve Bank of India (RBI) as per regulatory requirement, Indian Bank said in a BSE filing.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Anish Mondal";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-05-27T20:35:57+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:842:"
Indian Bank on Friday said it has reported three non-performing accounts, including IL&amp;FS Tamil Nadu Power Ltd, as fraud to the RBI and the public sector lender has a combined exposure of over Rs 362 crore to these companies.

Three non-performing accounts have been declared as fraud and have been reported to the Reserve Bank of India (RBI) as per regulatory requirement, Indian Bank said in a BSE filing.

The nature of fraud comes in the form of diversion of funds in all these cases, the bank said.

IL&amp;FS Tamil Nadu Power has a fraud amount of Rs 320.34 crore against the bank, followed by Amico Textiles at Rs 30.98 crore and Sarbamangala Agro Products of Rs 11.26 crore.

The bank said it has made provisions of up to 100 per cent in all these three fraud accounts as of March 31, 2022.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/05/1-900.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:94:"The nature of fraud comes in the form of diversion of funds in all these cases, the bank said.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/05/1-900-300x166.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"166";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:77;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:70:"Banks need to support growth, remain watchful of slippages: RBI report";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:135:"https://www.financialexpress.com/industry/banking-finance/banks-need-to-support-growth-remain-watchful-of-slippages-rbi-report/2540186/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Fri, 27 May 2022 16:43:31 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:3:"RBI";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:21:"Reserve Bank of India";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:135:"https://www.financialexpress.com/industry/banking-finance/banks-need-to-support-growth-remain-watchful-of-slippages-rbi-report/2540186/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:147:"In its annual report released on Friday, the RBI said the banking sector has witnessed improved financial parameters despite the COVID-19 pandemic.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Subham Mitra";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-05-27T19:31:21+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:3868:"
The Reserve Bank on Friday said banks would need to support growth while being watchful of the credit behaviour of entities whose loans were restructured during the pandemic period to arrest slippages.

Banks had extended moratorium on repayment of loans and restructured advances to businesses to help them combat the impact of the COVID-19 pandemic and subsequent lockdowns.

In its annual report released on Friday, the RBI said the banking sector has witnessed improved financial parameters despite the pandemic. &#8220;There is, however, a need to be watchful of the credit behaviour of the restructured advances and possibility of increased slippages arising from sectors that were relatively more exposed to the pandemic,&#8221; it noted.

With the unwinding of support measures, some of the restructured accounts might face solvency concerns, and the impact on banks&#8217; balance sheets will become clearer in the upcoming quarters, the report said.

Prudence warrants proactive recognition of any non-viable accounts to activate timely resolution, it added. The report said the gross non-performing assets (GNPA) ratio of all scheduled commercial banks (SCBs) moderated to its lowest level in six years, aided by efforts towards recoveries and technical write-offs.

&#8220;Going forward, as the economy recovers and credit demand rises, banks will need to focus on supporting credit growth while being vigilant of the evolving risks. &#8220;Care needs to be taken to ensure that fresh slippages are arrested, and banks&#8217; balance sheets are strengthened to avoid future build-up of stress,&#8221; said the Reserve Bank&#8217;s Annual Report for the Year 2021-22.

It also said bank credit growth has begun to pick up to track nominal GDP growth and lenders are regaining bottom lines. Bank credit to commercial sector improved and aggregate deposits moderated with the ebbing of precautionary savings, it said, adding bank credit growth picked up, especially since August 2021, and it was broad-based.

During 2021-22, against the target for agricultural credit of Rs 16.5 lakh crore, banks achieved 104 per cent of the target (Rs 17.09 lakh crore) as on March 31, 2022.

The banking sector was cushioned against the disruptions caused by the pandemic by adequate liquidity support and various regulatory dispensations provided by the Reserve Bank, it said.

Banks bolstered their capital to augment risk absorbing capacity, aided by recapitalisation by the government in case of public sector banks (PSBs) along with capital raising from the market and retention of profits by both PSBs and private sector banks.

It further said NBFCs and urban cooperative banks (UCBs) will have to be mindful of frailties, wherever they exist, in their balance sheets and ensure robust asset-liability management, apart from improving the quality of their credit portfolios.

The central bank also said in order to further strengthen the regulatory and supervisory framework, several measures are expected to be put in place for banks and NBFCs during the current financial year.

On financial inclusion, the report said the number of banking outlets in villages &#8212; including branches, banking correspondents and other modes &#8212; increased from just 67,694 in March 2010 to 12.53 lakh by December 2020 and further to 19 lakh by December 2021.

On the overall economic situation, the Reserve Bank said fiscal 2020-21 brought many challenges, but a recovery is underway in spite of headwinds. The future path of growth will be conditioned by addressing supply-side bottlenecks, calibrating monetary policy to bring inflation within the target while supporting growth and targeted fiscal policy support to aggregate demand, it added.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:70:"https://www.financialexpress.com/wp-content/uploads/2022/05/RBI-04.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:90:"RBI has several guidelines and mechanisms for receipt of export payments against services.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:78:"https://www.financialexpress.com/wp-content/uploads/2022/05/RBI-04-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:78;a:6:{s:4:"data";s:23:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:46:"Muthoot Finance Q4 PAT falls to Rs 1,006 crore";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:112:"https://www.financialexpress.com/industry/banking-finance/muthoot-finance-q4-pat-falls-to-rs-1006-crore/2539402/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Fri, 27 May 2022 08:43:45 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:4:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:14:"banking sector";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:3;a:5:{s:4:"data";s:15:"Muthoot Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:112:"https://www.financialexpress.com/industry/banking-finance/muthoot-finance-q4-pat-falls-to-rs-1006-crore/2539402/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:208:"The Kochi-based NBFC’s consolidated revenue from operations fell almost 4% on year to 2,917 crore in the quarter under review. The decline in the top line was due to drop in home and vehicle finance loans. ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:13:"anamika sinha";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-05-27T08:43:49+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:1214:"
Muthoot Finance on Thursday posted a marginal decline in its consolidated net profit for the quarter ended March 31, 2022 toRs 1,006 crore, fromRs 1,024 crore a year ago, on account of a decline in revenue from operations.

The Kochi-based NBFC’s consolidated revenue from operations fell almost 4% on year to Rs 2,917 crore in the quarter under review. The decline in the top line was due to drop in home and vehicle finance loans. The company also witnessed a decline because of lending operating in Sri Lanka getting affected. Loan assets in home finance declined 14% on year to Rs 1,470 crore while vehicle finance loans declined 44% on year to Rs 207 crore. Sri Lanka lending operations fell 13% to Rs 446 crore in the March quarter.

The company’s microfinance operations has loan portfolio of Rs 4,366 crore, which grew 32% on year.The company had disbursed fresh loans to four lakh new customers amounting to Rs 4,664 crore and to 4.89 lakh inactive customers amounting to Rs 4,759 crore.Despite the challenges, the company’s core gold loan operations improved 10% year-on-year to Rs 58,053 crore in the fourth quarter.The company recently launched an online gold loan scheme.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:83:"https://www.financialexpress.com/wp-content/uploads/2022/05/muthoot-finance-pic.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:98:"The company’s microfinance operations has loan portfolio of 4,366 crore, which grew 32% on year.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:91:"https://www.financialexpress.com/wp-content/uploads/2022/05/muthoot-finance-pic-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:79;a:6:{s:4:"data";s:23:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:48:"IDBI Bank calls AGM to seek nod for fund-raising";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:115:"https://www.financialexpress.com/industry/banking-finance/idbi-bank-calls-agm-to-seek-nod-for-fund-raising/2539127/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Fri, 27 May 2022 00:30:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:4:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:7:"Banking";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:3;a:5:{s:4:"data";s:9:"IDBI Bank";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:115:"https://www.financialexpress.com/industry/banking-finance/idbi-bank-calls-agm-to-seek-nod-for-fund-raising/2539127/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:226:"In December 2020, IDBI Bank had raised Rs 1,435 crore via qualified institutional placement. Life Insurance Corporation, which holds a little over 49% stake in the bank, infused Rs 4,743 crore into the lender in October 2019. ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:17:"Subhajit Dasgupta";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-05-27T00:30:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:1438:"
The board of IDBI Bank has approved an annual general meeting (AGM) to raise funds through the equity route. Shareholders will approve the fund-raising in the AGM. “…the board of directors of IDBI Bank at its meeting held on Thursday has approved the notice convening the 18th annual general meeting of the bank which included passing an enabling special resolution for issue of equity capital through various modes,” the lender said in an exchange filing.

In December 2020, IDBI Bank had raised Rs 1,435 crore via qualified institutional placement. Life Insurance Corporation, which holds a little over 49% stake in the bank, infused Rs 4,743 crore into the lender in October 2019. In its previous AGM, the bank had sought the approval of its shareholders for raising Rs 7,500 crore via equity, according to information in its annual report for FY21.

Earlier this month, the bank announced sale of some non-core assets. The lender agreed to sell its 25% stake in Ageas Federal Life Insurance Company to Ageas Insurance International NV for Rs 580 crore. The bank also completed sale of 20% stake in Asset Reconstruction Company (India) to Avenue India Resurgence Pte.

In Q4FY22, the bank reported a net profit of Rs 691 crore, compared with Rs 512 crore for the same quarter last year. As on March 31, 2022, the lender’s capital adequacy ratio improved to 19.06%, compared to 15.59% a year ago.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:73:"https://www.financialexpress.com/wp-content/uploads/2022/05/idbi-bank.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:168:"In its previous AGM, the bank had sought the approval of its shareholders for raising Rs 7,500 crore via equity, according to information in its annual report for FY21.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:81:"https://www.financialexpress.com/wp-content/uploads/2022/05/idbi-bank-300x166.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"166";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:80;a:6:{s:4:"data";s:23:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:86:"HDFC Bank merger with HDFC takes Apr deal volume to record high of USD 46.3 bn: Report";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:152:"https://www.financialexpress.com/industry/banking-finance/hdfc-bank-merger-with-hdfc-takes-apr-deal-volume-to-record-high-of-usd-46-3-bn-report/2539163/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Thu, 26 May 2022 21:27:45 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:4:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:4:"HDFC";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:3;a:5:{s:4:"data";s:9:"HDFC Bank";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:152:"https://www.financialexpress.com/industry/banking-finance/hdfc-bank-merger-with-hdfc-takes-apr-deal-volume-to-record-high-of-usd-46-3-bn-report/2539163/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:235:"The same number had stood at USD 12.91 billion in the year-ago period and USD 8.7 billion in 2020, the report by Grant Thornton Bharat said, making it clear that there are clouds of uncertainty in the deals landscape for the near-term.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Anish Mondal";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-05-26T21:27:49+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:1646:"
The USD 40 billion merger between HDFC Bank and parent HDFC, the biggest ever deal in the country, took the overall deal volumes in April 2022 to a record high of USD 46.3 billion, a report by a consultancy firm said on Thursday.

The same number had stood at USD 12.91 billion in the year-ago period and USD 8.7 billion in 2020, the report by Grant Thornton Bharat said, making it clear that there are clouds of uncertainty in the deals landscape for the near-term.

&#8220;While the geopolitical concerns and rising global inflation could likely cloud the near-term growth prospects, various domestic macro factors such as tax revenue growth, improvement in consumption and industrial high frequency indicators, etc. remain supportive of the economic growth and positive news for deal making,&#8221; its partner Shanthi Vijetha said.

There were a total of 183 deals in the month, with startups, information technology, banking and media sectors dominating activity. On the merger and acquisition front, there were 45 deals worth USD 42.73 billion, which was a 676 per cent jump in the activity by values. The private equity investments came at USD 3.6 billion across 138 deals, which was a 52 per cent drop by value terms due to the absence of big-ticket deals, it said.

The start-up sector continued to drive volumes, with a 71 per cent share of PE volumes with investment values of USD 0.9 billion, it said. The month witnessed eight high value investments of USD 100 million and above across five distinct sectors ranging from media, banking, e-commerce, start-up and real estate, it added.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/05/1-880.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:355:""While the geopolitical concerns and rising global inflation could likely cloud the near-term growth prospects, various domestic macro factors such as tax revenue growth, improvement in consumption and industrial high frequency indicators, etc. remain supportive of the economic growth and positive news for deal making," its partner Shanthi Vijetha said.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/05/1-880-300x166.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"166";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:81;a:6:{s:4:"data";s:23:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:74:"CBI arrests ABIL group chairman Avinash Bhosale in Yes Bank-DHFL scam case";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:141:"https://www.financialexpress.com/industry/banking-finance/cbi-arrests-abil-group-chairman-avinash-bhosale-in-yes-bank-dhfl-scam-case/2539179/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Thu, 26 May 2022 20:29:26 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:4:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:8:"Yes Bank";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:3;a:5:{s:4:"data";s:13:"Yes Bank-DHFL";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:141:"https://www.financialexpress.com/industry/banking-finance/cbi-arrests-abil-group-chairman-avinash-bhosale-in-yes-bank-dhfl-scam-case/2539179/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:151:"The agency had carried out searches at the premises of noted builders of the state on April 30 to further probe on this aspect of the case, they said.
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The CBI on Thursday arrested Avinash Bhosale, chairman of Pune-based real estate group ABIL group, in an alleged corruption case involving Yes Bank founder Rana Kapoor and Kapil Vadhawan of DHFL, officials said.

The CBI suspects that illicit funds were routed through several real estate companies based in Maharashtra, they said. The agency had carried out searches at the premises of noted builders of the state on April 30 to further probe on this aspect of the case, they said. Premises of ABIL and Bhosale were also searched during the operation.

The CBI has now arrested Bhosale in a 2020 case against Kapoor and Wadhawan among others for alleged corruption. The CBI had recently arrested Sanjay Chhabria of Radius Developers in the case.

The agency has alleged that Kapoor entered into a criminal conspiracy with Wadhawan for extending financial assistance to DHFL through Yes Bank in return for substantial undue benefits to himself and his family members through companies held by them, they said.

According to the CBI FIR, the scam started taking shape between April and June 2018, when Yes Bank invested Rs 3,700 crore in short term debentures of scam-hit DHFL.

In return, Wadhawan allegedly &#8220;paid kickback of Rs 600 crore&#8221; to Kapoor and family members in the form of loan to DoIT Urban Ventures (India) Pvt Ltd, they said. DoIT Urban Ventures is held by daughters of Kapoor &#8212; Roshini, Radha and Rakhee &#8212; who are 100 per cent share holders of the company through Mogran Credits Pvt Ltd, it alleged.

The loan of Rs 600 crore was sanctioned by DHFL to DoIT Urban Ventures (India) Pvt Ltd on the basis of mortgage of sub-standard properties having very meagre value and by considering its future conversation from agricultural land to residential land, the agency has alleged.

It was further found that DHFL had not redeemed the amount of Rs 3,700 crore invested by Yes Bank in its debentures till date, it said.

In addition to the above, Yes Bank also sanctioned a loan of Rs 750 crore to RKW Developers Pvt Ltd whose director is Dheeraj Wadhawan and is a DHFL group company for their Bandra reclamation project which was transferred by it to DHFL without any investment in the project for which it was sanctioned, they said. &#8220;Rana Kapoor obtained undue pecuniary advantage from DHFL in the matter of investment in the debentures of DHFL by Yes Bank, through the companies held by his wife and daughters,&#8221; the FIR alleged.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/05/1-881.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:129:"Yes Bank returned to the black in FY22, posting a full-year profit of Rs 1,066 crore after two years of losses in FY20 and FY21. ";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/05/1-881-300x166.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"166";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:82;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:87:"RBI reduces net-worth requirement for non-bank Bharat Bill Payment units to Rs 25 crore";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:154:"https://www.financialexpress.com/industry/banking-finance/rbi-reduces-net-worth-requirement-for-non-bank-bharat-bill-payment-units-to-rs-25-crore/2538209/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Thu, 26 May 2022 18:08:24 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:3:"RBI";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:154:"https://www.financialexpress.com/industry/banking-finance/rbi-reduces-net-worth-requirement-for-non-bank-bharat-bill-payment-units-to-rs-25-crore/2538209/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:136:"At present, a net worth of Rs 100 crore is required to obtain authorisation for a non-bank BBPOU (Bharat Bill Payment Operating Units).
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The RBI on Thursday eased norms for non-bank entities to set up Bharat Bill Payment operating units by reducing the net-worth reqirement to Rs 25 crore, with a view to encourage more players in the segment.

At present, a net worth of Rs 100 crore is required to obtain authorisation for a non-bank BBPOU (Bharat Bill Payment Operating Units). Bharat Bill Payment System (BBPS) is an interoperable platform for bill payments and the scope and coverage of BBPS extends to all categories of billers who raise recurring bills.

&#8220;…the minimum net-worth requirement for non-bank Bharat Bill Payment Operating Units (BBPOUs) stands reduced to Rs 25 crore,&#8221; the Reserve Bank of India said in a circular.

Users of BBPS enjoy benefits like standardised bill payment experience, centralised customer grievance redressal mechanism and prescribed customer convenience fee.

The reduction in net-worth requirements follows an announcement regarding the same by the central bank in April. The RBI had said while BBPS has seen an increase in the volume of transactions as well as number of onboarded billers, it is observed that there has not been a corresponding growth in the number of non-bank BBPOUs.

The requirement of Rs 100 crore net worth for a non-bank BBPOU to obtain authorisation was viewed as a constraint to greater participation, it had said. To increase participation, the RBI had decided to align the net worth requirement of non-bank BBPOUs with that of other non–bank participants which handle customer funds (like payment aggregators) and have a similar risk profile.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/05/1-870.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:173:""…the minimum net-worth requirement for non-bank Bharat Bill Payment Operating Units (BBPOUs) stands reduced to Rs 25 crore," the Reserve Bank of India said in a circular.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/05/1-870-300x166.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"166";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:83;a:6:{s:4:"data";s:23:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:69:"RBI cancels licences of five NBFCs citing irregular lending practices";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:136:"https://www.financialexpress.com/industry/banking-finance/rbi-cancels-licences-of-five-nbfcs-citing-irregular-lending-practices/2537921/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Thu, 26 May 2022 06:30:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:4:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:4:"NBFC";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:3;a:5:{s:4:"data";s:3:"RBI";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:136:"https://www.financialexpress.com/industry/banking-finance/rbi-cancels-licences-of-five-nbfcs-citing-irregular-lending-practices/2537921/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:219:"Wednesday’s notification is the second major instance of regulatory action against app-based lenders after allegations of usurious and abusive practices being followed by several digital lenders first emerged in 2020.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Anish Mondal";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-05-26T06:30:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:2022:"
The Reserve Bank of India (RBI) on Wednesday cancelled the certificates of registration (CoRs) of five non-banking financial companies (NBFCs) who had been offering their services through app-based platforms. The regulator cited irregular lending practices of the companies as the reason for its action.

Earlier, in February, RBI had cancelled the CoR issued to PC Financial, which carried out lending operations through an app called Cashbean. Wednesday’s notification is the second major instance of regulatory action against app-based lenders after allegations of usurious and abusive practices being followed by several digital lenders first emerged in 2020.

The NBFCs whose CoRs stand cancelled are UMB Securities, Anashri Finvest, Chadha Finance, Alexcy Tracon and Jhuria Financial Services. The companies had been carrying out their business under the names Fastapp Technologies, Datimes, Bullintech Finance, TGHY Trustrock, Mrupee, Kush Cash, Karna Loan, Mr Cash, FlyCash, Wifi Cash, Badabro, Aeritech, Finclub Technologies, MoNeed, MoMo, CashFish, Kredipe, RupeeLand and Rupee Master.

“The CoR of the above mentioned NBFCs have been cancelled on account of violation of RBI guidelines on outsourcing and Fair Practices Code in their digital lending operations undertaken through third party apps which was considered detrimental to public interest,” the RBI said.

These companies were also not complying with regulations pertaining to charging of excessive interest and had resorted to undue harassment of customers for loan recovery purposes, the regulator said.

After a furore over the excesses committed by digital lending apps in 2020, the RBI had set up a working group to present a report on the regulation of such apps. The group&#8217;s recommendations, released in November 2021, range from subjecting digital lending apps (DLAs) to a verification process by a nodal agency to dedicated legislation to prevent illegal digital lending activities.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/05/1-862.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:282:"“The CoR of the above mentioned NBFCs have been cancelled on account of violation of RBI guidelines on outsourcing and Fair Practices Code in their digital lending operations undertaken through third party apps which was considered detrimental to public interest,” the RBI said.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/05/1-862-300x166.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"166";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:84;a:6:{s:4:"data";s:21:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:49:"Govt on course on PSU bank privatisation: Sources";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:115:"https://www.financialexpress.com/industry/banking-finance/govt-on-course-on-psu-bank-privatisation-sources/2537906/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Wed, 25 May 2022 21:10:33 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:2:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:115:"https://www.financialexpress.com/industry/banking-finance/govt-on-course-on-psu-bank-privatisation-sources/2537906/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:200:"In the Union Budget for 2021-22, the government announced its intent to take up the privatisation of two PSBs in the year and approved a policy of strategic disinvestment of public sector enterprises.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Anish Mondal";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-05-25T21:10:38+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:2305:"
The government is on course with the privatisation of two public sector banks (PSBs) and will take appropriate steps in the coming months, sources said. In the Union Budget for 2021-22, the government announced its intent to take up the privatisation of two PSBs in the year and approved a policy of strategic disinvestment of public sector enterprises.

According to sources, the government is committed to the privatisation of two public sector banks and it is on course. Besides, sources also said the divestment of BPCL is also on the card and fresh bids will be invited. The government had to cancel the sale as only a single bidder was left in the fray, sources said.

The government had planned to sell its entire 52.98 per cent stake in Bharat Petroleum Corporation Ltd (BPCL) and invited Expression of Interest from bidders in March 2020. At least three bids came in by November 2020 but only one remains now after the others withdrew from the race. On the strategic sale of Container Corporation of India (Concor), sources said, there are some issues and the process would be undertaken after those are resolved.

The Cabinet, in November 2019, had approved the strategic sale of a 30.8 per cent stake, along with management control, in Concor out of the government equity of 54.80 per cent. The government will retain 24 per cent stake post-sell-off but without any veto powers. The government think-tank NITI Aayog has already suggested two banks and one insurance company to the Core Group of Secretaries on Disinvestment for privatisation.

According to sources, Central Bank of India and Indian Overseas Bank are likely candidates for privatisation. As per the process, the Core Group of Secretaries, headed by the Cabinet Secretary, will send its recommendation to Alternative Mechanism (AM) for its approval and eventually to the Cabinet headed by the Prime Minister for the final nod.

The members of the Core Group of Secretaries include economic affairs secretary, revenue secretary, expenditure secretary, corporate affairs secretary, legal affairs secretary, Department of Public Enterprises secretary, Department of Investment and Public Asset Management (DIPAM) secretary and an administrative department secretary.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/05/1-861.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:163:"On the strategic sale of Container Corporation of India (Concor), sources said, there are some issues and the process would be undertaken after those are resolved.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/05/1-861-300x166.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"166";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:85;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:100:"Bank Holidays in June 2022: Banks closed for up to 8 days in various cities in June; check list here";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:165:"https://www.financialexpress.com/industry/banking-finance/bank-holidays-in-june-2022-banks-closed-for-up-to-8-days-in-various-cities-in-june-check-list-here/2537042/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Wed, 25 May 2022 11:24:09 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:9:"PSU banks";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:3:"RBI";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:165:"https://www.financialexpress.com/industry/banking-finance/bank-holidays-in-june-2022-banks-closed-for-up-to-8-days-in-various-cities-in-june-check-list-here/2537042/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:120:"Banks in India are likely to be shut for up to 8 days in June 2022, including second and fourth Saturdays, and Sundays. ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:11:"Surbhi Jain";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-05-25T11:26:15+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:2028:"
List of Bank Holidays For June 2022: Banks in India are likely to be shut for up to 8 days in June 2022, including second and fourth Saturdays, and Sundays. According to the list released by Reserve Bank of India (RBI), banks will be closed for two days, apart from weekends in June this year. Banks will remain shut in different states or cities on account of different holidays. It may be noted that the banks remain open on the first and third Saturdays every month.

The Reserve Bank of India has categorised holidays under three categories — Holiday under Negotiable Instruments Act; Holiday under Negotiable Instruments Act and Real-Time Gross Settlement Holiday; and Banks’ Closing of Accounts. While planning bank-related work, people are advised to check the holiday date in their respective states. The list of holidays given below has been notified by RBI.&nbsp;

While planning bank-related work, people are advised to check the holiday date in their respective states. Despite these bank holidays, including weekly offs, bank customers can use net banking and mobile banking to do some of their bank work.

<h2>Bank holidays in June 2022</h2>

02 June 2022: Maharana Pratap Jayanti

15 June 2022: Y.M.A. Day/Guru Hargobind Ji’s Birthday/Raja Sankranti

Banks in Shimla will observe a holiday on 2 June on the occasion of Maharana Pratap Jayanti. While banks in Aizawl, Bhubaneswar, Jammu, and Srinagar will remain closed on 15 June 2022 to celebrate Y.M.A. Day, Guru Hargobind Ji’s Birthday, and Raja Sankranti.

<h2>Weekend holidays in June 2022</h2>

5 June 2022: Weekly off (Sunday)

11 June 2022: Second Saturday

12 June 2022: Weekly off (Sunday)

19 June 2022: Weekly off (Sunday)

25 June 2022: Fourth Saturday

26 June 2022: Weekly off (Sunday)";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:71:"https://www.financialexpress.com/wp-content/uploads/2022/05/banking.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:137:" Despite these bank holidays, including weekly offs, bank customers can use net banking and mobile banking to do some of their bank work.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:79:"https://www.financialexpress.com/wp-content/uploads/2022/05/banking-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:86;a:6:{s:4:"data";s:23:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:79:"Primary co-op banks can lend up to Rs 10 lakh for repair of dwelling units: RBI";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:145:"https://www.financialexpress.com/industry/banking-finance/primary-co-op-banks-can-lend-up-to-rs-10-lakh-for-repair-of-dwelling-units-rbi/2536582/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Tue, 24 May 2022 21:25:32 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:4:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:14:"banking sector";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:3;a:5:{s:4:"data";s:3:"RBI";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:145:"https://www.financialexpress.com/industry/banking-finance/primary-co-op-banks-can-lend-up-to-rs-10-lakh-for-repair-of-dwelling-units-rbi/2536582/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:231:"The ceiling on loans by such banks to individuals for carrying out repairs/additions/alterations to their dwelling units was revised upwards to Rs 2 lakh in rural and semi-urban areas and Rs 5 lakh in urban areas in September 2013.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Anish Mondal";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-05-24T21:26:05+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:816:"
Reserve Bank of India (RBI) on Tuesday said primary cooperative banks can now extend loans of up to Rs 10 lakh to individuals for repair or alterations of their dwelling units in metropolitan centres.

The ceiling on loans by such banks to individuals for carrying out repairs/additions/alterations to their dwelling units was revised upwards to Rs 2 lakh in rural and semi-urban areas and Rs 5 lakh in urban areas in September 2013.

&#8220;The ceiling on such loans is now revised to Rs 10 lakh in metropolitan centres (those centres with population of 10 lakh and above) and Rs 6 lakh in other centres,&#8221; RBI said in a circular addressed to primary (urban) co-operative banks.

Urban co-operative banks refer to primary cooperative banks located in urban and semi-urban areas.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/05/1-828.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:237:""The ceiling on such loans is now revised to Rs 10 lakh in metropolitan centres (those centres with population of 10 lakh and above) and Rs 6 lakh in other centres," RBI said in a circular addressed to primary (urban) co-operative banks.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/05/1-828-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:87;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:111:"As RBI’s card storage deadline looms new payment infrastructure far from ready; small businesses to hurt more";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:174:"https://www.financialexpress.com/industry/banking-finance/as-rbis-card-storage-deadline-looms-new-payment-infrastructure-far-from-ready-small-businesses-to-hurt-more/2536305/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Tue, 24 May 2022 17:45:44 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Payments";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:3:"RBI";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:174:"https://www.financialexpress.com/industry/banking-finance/as-rbis-card-storage-deadline-looms-new-payment-infrastructure-far-from-ready-small-businesses-to-hurt-more/2536305/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:176:"India’s banking regulator, has set June 30, 2022 as the deadline for merchants and payment aggregators to delete customer's debit and credit card details from their servers. ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:14:"Aakriti Bhalla";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-05-24T17:46:35+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:3971:"
As the Reserve Bank of India&#8217;s (RBI) new card storage guidelines come into effect in about a month, which will mandate merchants to delete the customers card data, an alternative payment mechanism, ie card tokenisation is still not ready, and is still a &#8220;halfway product&#8221;, industry sources said. It is expected to create disruptions in making payments as the June 30 deadline looms, they said, adding that the payment ecosystem is not fully prepared to implement the rules.

The new regulations would affect businesses across the board, such as major e-commerce firms and food delivery firms, but would &#8220;disproportionately&#8221; hurt small and medium businesses much more, industry sources said. Bigger businesses are tracking the challenges and working on alternatives, but the majority of the smaller businesses are bound to face drop in payments once the new guidelines come into effect. The lack of awareness is one of the challenges that small businesses face, one of the sources cited above said.&nbsp;

Businesses around the country have been trying to find their feet as they recover from ramifications of the COVID-19 pandemic and the change in payments guidelines could further be a challenge in creating a cashfree, digital economy. When the new digital payment guidelines come into effect, it is expected to create financial chaos, one of the sources said.

The RBI, India’s banking regulator, has set June 30, 2022 as the deadline for merchants and payment aggregators to delete customer&#8217;s debit and credit card details from their servers. As an alternative, RBI has suggested card tokenisation as a method to process those payments, in order to avoid disruption.&nbsp;

In its announcement last year, RBI said it has reinforced the new guidelines for the &#8220;safety and security of card data while continuing the convenience in card transactions&#8221;. RBI&#8217;s guidelines came into effect in the face of an increase in risk of card data being stolen, leaked or compromised when stored on merchant’s servers.

Tokenisation refers to replacement of credit and debit card details with an alternate alpha-numeric code called the “token” which will be unique to a card, token requestor and the device. Industry sources said even though some entities have started with the process of issuing tokens, the infrastructure to process payments through the tokens is still not ready, and are currently in the testing stage.

E-commerce firms such as Amazon and Flipkart process about 1600 to 1900 transactions per second on an average on sale days, however, transactions done through tokenisation method have only been able to process 8 to 10 transactions per second, according to data from testing stage, one of the industry sources cited above said.

&#8220;What one needs to realise is that we are reducing a four way highway into a two way one, even when volume remains the same,&#8221; the source added. In countries where tokenisation has been adopted, an alternative to use card details still exists. It has taken other countries about 7-8 years to fully adopt card tokenisation, from that perspective 8-9 months is a very short span of time, the source added.

Even if a customer chooses to opt for card tokenization, issues such as high latency (time taken to fulfill one transaction) and low throughput (number of transaction requests which can pass through) has been observed in the early testing stage, according to the Merchant Payment Alliance of India.

&#8220;Even when customers enter card details each time for each transaction, the transaction will likely fail because acquirers (who are also issuers in most cases) for online payments will not be able to store these card details (they store this in the offline world),&#8221; the industry body, which is an association of merchants including Netflix and Microsoft, said.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:91:"https://www.financialexpress.com/wp-content/uploads/2022/05/credit-card-reuters-big-2-1.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:200:"The RBI, India’s banking regulator, has set June 30, 2022 as the deadline for merchants and payment aggregators to delete customer's debit and credit card details from their servers. (File: Reuters)";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:99:"https://www.financialexpress.com/wp-content/uploads/2022/05/credit-card-reuters-big-2-1-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:88;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:82:"Higher stress in agri, MSME, retail segments: Large banks see slippages rise in Q4";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:146:"https://www.financialexpress.com/industry/banking-finance/higher-stress-in-agri-msme-retail-segments-large-banks-see-slippages-rise-in-q4/2535148/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Tue, 24 May 2022 01:20:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:4:"MSME";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:146:"https://www.financialexpress.com/industry/banking-finance/higher-stress-in-agri-msme-retail-segments-large-banks-see-slippages-rise-in-q4/2535148/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:110:"Despite rising slippages, analysts are taking heart from the fact that recoveries by banks have been improving";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Anish Mondal";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-05-24T01:20:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:3252:"
Most large banks reported an increase in fresh bad loans on a sequential basis for the quarter ended March 2022. A clutch of 17 banks reported slippages worth Rs 53,512 crore in Q4FY22, 28% higher compared with the third quarter of FY22. Although the trend is partly attributable to the lumpy Future Retail exposure slipping during Q4, higher stress in the agri, MSME and retail segments made a significant contribution to banks&#8217; bad loan pie.

The lenders that saw the sharpest rise in slippages were UCO Bank and Punjab National Bank (PNB), where the figures rose 150% and 138%, respectively. Both banks had new chief executives taking charge during the March quarter.

PNB’s slippage pool of Rs 10,506 crore was the biggest among large banks, with stress being spread across the retail, agri and micro and small and medium enterprises (MSME) segments. Of the Rs 2,871 crore worth of MSME slippages, Rs 838 crore was from borrowers who availed of funds under the emergency credit line guarantee scheme.

In coming quarters, PNB expects slippages to continue emerging from smaller accounts. AK Goel, MD &amp; CEO, said in a post-results investor call that the bank’s SMA 2 portfolio in accounts of Rs 5 crore and more stands at Rs 120 crore, down from Rs 3,000 crore in December 2021. “But definitely, slippage may be from some small account, so we will strengthen our monitoring as well as collection systems,” Goel said.

Stress in the MSME segment hurt banks particularly during FY22, with ravages of the second wave of Covid leaving them crippled. VS Khichi, executive director, Bank of Baroda (BoB), told analysts that small enterprises have been experiencing difficulties across the board. “I&#8217;ll just say that most of the MSME sector at that point of time was reeling under pressure and we have seen slippages to the tune of say around Rs 3,000 crore in this full financial year, but the situation seems to be tapering off and is much better now,” Khichi said.

Despite rising slippages, analysts are taking heart from the fact that recoveries by banks have been improving. Emkay Global Financial Services observed in a recent report on BoB that while fresh slippages at the bank were higher at Rs 5,800 crore, accounting for 3.2% of loans, higher recoveries and write-offs led to a 64-bps reduction in the gross non-performing asset (NPA) ratio to 6.6%. The bank’s SMA-1 and 2 pool also declined to a low of 0.4% from 1.1% in Q3.

At the same time, banks’ improving asset quality ratios may not be adequately reflecting the stress building up in restructured retail and MSME accounts. In a recent report, analysts at Fitch wrote, “We believe substantial growth in retail loans and exposure to micro and medium-sized enterprises (MSMEs) and vulnerable corporate sectors have created risks that are not captured in the improving impaired loan ratios due to regulatory forbearance.”

Risks are lower in retail loans due to a high share of secured loans, but banks with greater exposure to unsecured loans, loans to self-employed and low-income borrowers may face challenges, according to the agency, which regards MSMEs as the most vulnerable segment.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/05/1-779.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:225:"The lenders that saw the sharpest rise in slippages were UCO Bank and Punjab National Bank (PNB), where the figures rose 150% and 138%, respectively. Both banks had new chief executives taking charge during the March quarter.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/05/1-779-300x166.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"166";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:89;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:74:"RBI-constituted panel to review customer service standards in banks, NBFCs";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:140:"https://www.financialexpress.com/industry/banking-finance/rbi-constituted-panel-to-review-customer-service-standards-in-banks-nbfcs/2535177/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Mon, 23 May 2022 19:45:27 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:14:"banking sector";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:3:"RBI";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:140:"https://www.financialexpress.com/industry/banking-finance/rbi-constituted-panel-to-review-customer-service-standards-in-banks-nbfcs/2535177/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:201:"The six-member committee headed by former RBI deputy governor B P Kanungo has been asked to submit a report within three months from the date of its first meeting, the central bank said in a statement.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Anish Mondal";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-05-23T19:45:31+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:1854:"
The RBI on Monday said it has set up a committee to evaluate the efficacy, adequacy and quality of customer service in banks, NBFCs, and other entities regulated by it.

The six-member committee headed by former RBI deputy governor B P Kanungo has been asked to submit a report within three months from the date of its first meeting, the central bank said in a statement.

&#8220;Evaluate the efficacy, adequacy and quality of customer service in entities regulated by RBI vis-à-vis the existing RBI guidelines on customer service and identify gaps, if any,&#8221; is one of the terms of reference given to the panel.

It will also review the emerging and evolving needs of the customer service landscape, especially in the context of evolving digital/ electronic financial products and distribution landscape and suggest suitable regulatory measures.

Besides, it has also been asked to identify the best practices, adopted globally and domestically, in customer service and grievance redressal, especially for improvement in services rendered to retail and small customers, including pensioners and senior citizens.

Suggesting measures to leverage technology for enhancing customer service efficiencies, upgrading internal grievance redress mechanism in Regulated Entities and strengthening the overall consumer protection framework of RBI, is another task given to the panel.

Other members of the panel are: A K Goel (Chairman IBA and MD &amp; CEO, PNB), A S Ramasastri (former Director, IDRBT), Amitha Sehgal (Hon. Secretary, AIBDA), Rajeshri N Varhadi (Professor, University of Mumbai), and Anil Kumar Sharma (Executive Director, RBI).

The RBI further said the Committee may also invite domain experts and RBI officials for consultations and/or to participate in its deliberations.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/05/1-776.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:233:""Evaluate the efficacy, adequacy and quality of customer service in entities regulated by RBI vis-à-vis the existing RBI guidelines on customer service and identify gaps, if any," is one of the terms of reference given to the panel.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/05/1-776-300x166.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"166";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:90;a:6:{s:4:"data";s:20:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:80:"Paytm payments bank expects central bank curbs to be lifted in three-five months";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:147:"https://www.financialexpress.com/industry/banking-finance/paytm-payments-bank-expects-central-bank-curbs-to-be-lifted-in-three-five-months/2533804/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Sun, 22 May 2022 19:03:18 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:1:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:147:"https://www.financialexpress.com/industry/banking-finance/paytm-payments-bank-expects-central-bank-curbs-to-be-lifted-in-three-five-months/2533804/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:208:"In March, the Reserve Bank of India ordered a comprehensive audit of the company's IT systems, citing "material" supervisory concerns, without elaborating further, and barring it from taking on new customers.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:13:"suhail sattar";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-05-22T19:03:49+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:1961:"
India&#8217;s Paytm Payments Bank, which facilitates transactions on mobile commerce platform Paytm, expects the central bank to allow it to resume taking on new customers in the next few months, a top executive told Reuters.

In March, the Reserve Bank of India ordered a comprehensive audit of the company&#8217;s IT systems, citing &#8220;material&#8221; supervisory concerns, without elaborating further, and barring it from taking on new customers.

The bank is working with the RBI to complete the IT audit and address the regulator&#8217;s concerns.

&#8220;The process is underway and we think it should take three to five months from where we are right now,&#8221; Madhur Deora, group chief financial officer, Paytm, told Reuters on Sunday.

The central bank did not immediately respond to an email seeking comments.

Paytm in March denied a Bloomberg news report that said RBI had found its servers were sharing information with China-based entities that indirectly own a stake in the firm.

Paytm is backed by China&#8217;s Alibaba Group Holding and its affiliate Ant Group.

One 97 Communications Ltd, the parent of fintech firm Paytm, on Friday reported a wider fourth-quarter loss due to higher payment processing, marketing and employee costs.

Deora said the company was on track to achieve profitability by September 2023.

&#8220;We are seeing good growth in high margin businesses and as a result we are seeing improvements in contribution margin.&#8221; &#8220;Our indirect expenses will not grow as fast as last year as we don&#8217;t expect to make any significant investments in new businesses or employee cost this year as we have already made those in the last year,&#8221; he added.

Paytm made its stock market debut in November last year in one of the country&#8217;s biggest-ever initial public offerings, but the shares have since sunk 70%.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:71:"https://www.financialexpress.com/wp-content/uploads/2022/05/paytm-2.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:77:"Paytm is backed by China's Alibaba Group Holding and its affiliate Ant Group.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:79:"https://www.financialexpress.com/wp-content/uploads/2022/05/paytm-2-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:91;a:6:{s:4:"data";s:21:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:86:"Bandhan Bank to increase exposure to secured loans: MD &amp; CEO Chandra Shekhar Ghosh";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:129:"https://www.financialexpress.com/industry/banking-finance/bandhan-bank-to-increase-exposure-to-secured-loans-says-md-ceo/2533642/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Sun, 22 May 2022 15:45:22 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:2:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:12:"Bandhan Bank";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:129:"https://www.financialexpress.com/industry/banking-finance/bandhan-bank-to-increase-exposure-to-secured-loans-says-md-ceo/2533642/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:262:"Bandhan Bank MD and CEO Chandra Shekhar Ghosh told PTI that "the lender will increase its exposure to secured loans and has set a target to increase disbursements to housing and medium-size MSME loans. Advances to MFIs and small-ticket MSME loans are unsecured".";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Subham Mitra";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-05-22T20:57:18+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:2339:"
Private lender Bandhan Bank will gradually increase its exposure to secured loans by enhancing advances to the housing and MSME sectors, an official said.

Presently, the bank&#8217;s exposure to MFI loans, which are unsecured, is 47 per cent, and the share of its advances to the housing segment is at 24 per cent, retail at two per cent and the micro, small and medium enterprises sector at 27 per cent.

Bandhan Bank MD and CEO Chandra Shekhar Ghosh told PTI that &#8220;the lender will increase its exposure to secured loans and has set a target to increase disbursements to housing and medium-size MSME loans. Advances to MFIs and small-ticket MSME loans are unsecured&#8221;.

He said that 25 per cent of its MFI loans will be converted to formal MSME advances as the interest rates in the segment are similar to micro-credit or the loans given to self-help groups (SHGs).

There will be &#8220;no impact on the profitability&#8221; of the bank as there is no difference in the interest rates, he said.

In the last quarter of the previous fiscal, the bank clocked a net profit of Rs 1,902 crore and there had been no provisioning for bad loans, he said.

By 2025, the bank will reduce &#8220;group loan advances, which are micro-credit given to batch of small borrowers to 26 per cent of the advance book&#8221;.

Responding to a query on the expansion of branches in the current fiscal, Ghosh said around 530 banking outlets will be opened across the country, taking the total number to more than 6,000.

Recently, the private lender&#8217;s holding company Bandhan Financial Holdings Ltd diluted 21 per cent of its stake in the banking entity to raise Rs 10,600 crore, out of which Rs 4,500 crore had been utilised to acquire a majority shareholding in IDFC Mutual Fund.

Presently, the shareholding of the holding company has decreased to 40 per cent, which is in &#8220;conformity&#8221; to the regulatory norms, Ghosh said.

Earlier, Bandhan Financial Holdings&#8217; stake was 82 per cent at the time of the listing of the bank on the stock exchanges, which subsequently decreased to 61 per cent with the acquisition of Gruh Finance.

Ghosh said there is no need for a follow-on public offer as the bank is adequately capitalised.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:74:"https://www.financialexpress.com/wp-content/uploads/2022/05/download-2.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:150:"In the last quarter of the previous fiscal, the bank clocked a net profit of Rs 1,902 crore and there had been no provisioning for bad loans, he said.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:82:"https://www.financialexpress.com/wp-content/uploads/2022/05/download-2-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:92;a:6:{s:4:"data";s:21:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:77:"No capital support from govt needed this year, says Punjab &amp; Sind Bank MD";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:137:"https://www.financialexpress.com/industry/banking-finance/no-capital-support-from-govt-needed-this-year-says-punjab-sind-bank-md/2533629/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Sun, 22 May 2022 15:36:20 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:2:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:18:"Punjab & Sind Bank";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:137:"https://www.financialexpress.com/industry/banking-finance/no-capital-support-from-govt-needed-this-year-says-punjab-sind-bank-md/2533629/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:121:"With the infusion of Rs 4,600 crore, the government holding in the bank increased to 98.25 per cent as on March 31, 2022.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Subham Mitra";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-05-22T15:36:58+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:1821:"
Punjab &amp; Sind Bank would not require further capital infusion from the government to meet growth needs during the current fiscal year, the top official of the bank said.

During the previous two years, the government infused Rs 5,500 crore and Rs 4,600 crore through non-interest bearing recap bonds.

With the infusion of Rs 4,600 crore, the government holding in the bank increased to 98.25 per cent as on March 31, 2022.

Capital adequacy ratio of the bank improved to 18.54 per cent in March 2022 from 17.06 per cent as at March-end 2021 with the help of capital support from the government, bank&#8217;s MD and CEO S Krishnan said.

The bank is sufficiently capitalised to meet expected credit growth in this financial year and may not need support from the government, he said.

As far as loan growth is concerned, he said, it is expected to grow at 8-10 per cent in FY23. He further said the bank has strengthened its balance sheet by making additional provisions and it has proactively made 100 per cent provisions in all fraud cases.

The state-owned bank has not sought any dispensation from the Reserve Bank for staggering the provision.

The bank last month declared Srei Infrastructure Finance with outstanding dues of Rs 510.16 crore and Srei Equipment Finance Ltd with outstanding dues of Rs 724.18 crore accounts as fraud.

In October last year, the RBI had superseded the board of directors of the two Srei group firms and appointed an administrator, following governance issues and default in payment obligations.

It also initiated a corporate insolvency resolution process against both companies. According to some estimates, banks have about Rs 28,000 crore exposure to Srei, and bondholders another Rs 18,000 crore.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:89:"https://www.financialexpress.com/wp-content/uploads/2022/05/Punjab-and-Sind-Bank-Logo.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:111:"The state-owned bank has not sought any dispensation from the Reserve Bank for staggering the provision. (File)";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:97:"https://www.financialexpress.com/wp-content/uploads/2022/05/Punjab-and-Sind-Bank-Logo-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:93;a:6:{s:4:"data";s:20:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:67:"PNB earns over Rs 645 crore through ATM transaction charges in FY22";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:134:"https://www.financialexpress.com/industry/banking-finance/pnb-earns-over-rs-645-crore-through-atm-transaction-charges-in-fy22/2533513/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Sun, 22 May 2022 12:33:59 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:1:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:134:"https://www.financialexpress.com/industry/banking-finance/pnb-earns-over-rs-645-crore-through-atm-transaction-charges-in-fy22/2533513/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:208:"Revenue earned by PNB from ATM transaction charges stood at Rs 645.67 crore in financial year 2021-22, the bank said in response to an application seeking information under the Right to Information (RTI) Act.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:14:"Shriparna Saha";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-05-22T12:34:50+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:1432:"
Public sector lender Punjab National Bank has said it earned over Rs 645 crore by levying ATM transaction charges on customers during the financial year 2021-22. Revenue earned by PNB from ATM transaction charges stood at Rs 645.67 crore in financial year 2021-22, the bank said in response to an application seeking information under the Right to Information (RTI) Act.

Besides, the country&#8217;s second largest lender collected Rs 239.09 crore in the form of penalty imposed on customers who failed to maintain minimum balance or quarterly/monthly average balance in their bank accounts, according to the bank&#8217;s response to Madhya Pradesh-based RTI applicant Chandrashekhar Gaur. In 2020-21, the bank had earned Rs 170 crore by levying charges on customers for not maintaining minimum balance in their accounts.

This amount was collected from 8,518,953 accounts during FY22. To a query on the number of zero balance accounts with the bank, PNB (Punjab National Bank) said there were a total of 67,637,918 such accounts as of March 31, 2022.

Going by the trend for the last four financial years from 2018-19 to 2021-22, it was revealed that the zero balance accounts in PNB have gone up steadily over these years. As of March 31, 2019, there were 28,203,379 zero balance accounts at PNB, which increased to 30,583,184 by the end of March 2020 and further to 59,496,731 as of March 31, 202";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:67:"https://www.financialexpress.com/wp-content/uploads/2022/05/pnb.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:75:"https://www.financialexpress.com/wp-content/uploads/2022/05/pnb-300x200.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"200";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:94;a:6:{s:4:"data";s:21:" 
 
 
 
 
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The board of One 97 Communications Limited (OCL), the parent of Paytm, has approved an investment of up to Rs 950 crore in Paytm General Insurance Limited (PGIL), a joint venture, for a stake of 74%.

The investment will be made in tranches over a period of 10 years. In a regulatory filing, the company said OCL will hold a stake of 49% PGIL in the initial phase, with the remaining 51% being owned by VSS Holding Private Limited (VHPL), owned by Vijay Shekhar Sharma, managing director, OCL.

Post the investment, OCL will hold 74% in PGIL, lowering VHPL&#8217;s stake in the insurance venture to 26%. PGIL will be a subsidiary of OCL.

The OCL board also reappointed Sharma as the company’s managing director for a period of five years until December 18, 2027. Madhur Deora, the company&#8217;s Group CFO and president, was appointed to the board as a whole-time director for the next five years.

The general insurance venture comes after OCL’s attempt to acquire Mumbai-headquartered Raheja QBE General Insurance Company Limited fell through.

On Friday, the digital financial services player reported a loss of `780 crore for the March quarter due to higher expenses related to payments processing, marketing and employee benefits.

Revenue grew 89% year-on-year to Rs 1,541 crore, while the Ebitda (before ESOPs) for the quarter increased by 12% y-o-y. For FY22, the revenues jumped by 77% to Rs 4,974 crore.

The company’s Ebitda loss (before ESOP) for FY22 narrowed Rs 1,518 crore from Rs 1,655 crore the previous year.

The company believes it will show accelerated reduction in Ebitda losses and is on track to achieve profitability (before ESOP) by September 2023 quarter.

The OCL stock has lost more than 50% this year following a bearish phase in tech stocks in global markets and also due to regulatory issues faced by the company.

“PGIL intends to register for and undertake general insurance business. PGIL is yet to commence its general insurance business, which is presently subject to receipt of certificate of registration from Irdai (Insurance Regulatory and Development Authority of India),” the filing with the stock exchanges said.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:71:"https://www.financialexpress.com/wp-content/uploads/2022/05/paytm-1.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:225:"In a regulatory filing, the company said OCL will hold a stake of 49% PGIL in the initial phase, with the remaining 51% being owned by VSS Holding Private Limited (VHPL), owned by Vijay Shekhar Sharma, managing director, OCL.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:79:"https://www.financialexpress.com/wp-content/uploads/2022/05/paytm-1-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:95;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:87:"Paytm forms joint venture general insurance company, to invest Rs 950 crore in 10 years";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:153:"https://www.financialexpress.com/industry/banking-finance/paytm-forms-joint-venture-general-insurance-company-to-invest-rs-950-crore-in-10-years/2533159/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Sat, 21 May 2022 16:54:29 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:14:"life insurance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:5:"Paytm";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:153:"https://www.financialexpress.com/industry/banking-finance/paytm-forms-joint-venture-general-insurance-company-to-invest-rs-950-crore-in-10-years/2533159/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:117:"The proposal to set up joint venture firm Paytm General Insurance Limited (PGIL) was approved by the board on May 20.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:12:"Subham Mitra";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-05-21T17:42:14+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:1760:"
Digital financial services firm One97 Communications, which operates under Paytm brand, on Saturday said it has formed a joint venture general insurance company in which it has committed to invest Rs 950 crore over a period of 10 years.

The proposal to set up joint venture firm Paytm General Insurance Limited (PGIL) was approved by the board on May 20, the company said in a regulatory filing.

Initially, One97 Communications (OCL) will hold a 49 per cent stake in PGIL while the rest of the 51 per cent stake is to be owned by OCL&#8217;s managing director Vijay Shekhar Sharma owned and controlled company VSS Holding Private Limited (VHPL).

Post the investment, Paytm will hold 74 per cent stake in PGIL, reducing VHPL&#8217;s stake in the company to 26 per cent. &#8220;PGIL intends to register for and undertake general insurance business. PGIL is yet to commence its general insurance business, which is presently subject to receipt of certificate of registration from IRDAI (Insurance Regulatory and Development Authority of India),&#8221; the filing said.

The decision of Paytm board came after its group firm&#8217;s transaction into a share purchase agreement to acquire Raheja QBE General Insurance Company Limited did not consummate within stipulated time frame.

Paytm in July 2020 had announced that the company along with its founder Vijay Shekhar Sharma will acquire Mumbai-based private sector general insurance company Raheja QBE.

In its exchange filing, OCL said that it has reappointed Sharma as its managing director for five years. Madhur Deora, the company&#8217;s Group CFO and president, has been appointed on its board as a whole-time director for the next five years.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/05/paytm_reuters.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:140:"Post the investment, Paytm will hold 74 per cent stake in PGIL, reducing VHPL's stake in the company to 26 per cent. (Image Source: Reuters)";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:85:"https://www.financialexpress.com/wp-content/uploads/2022/05/paytm_reuters-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:96;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:39:"RBI surplus transfer lowest in a decade";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:106:"https://www.financialexpress.com/industry/banking-finance/rbi-surplus-transfer-lowest-in-a-decade/2532850/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Sat, 21 May 2022 05:15:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:7:"Banking";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:3:"RBI";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:106:"https://www.financialexpress.com/industry/banking-finance/rbi-surplus-transfer-lowest-in-a-decade/2532850/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:286:"The Reserve Bank of India (RBI) on Friday decided to transfer its FY22 surplus of Rs 30,307 crore to the government, the lowest dividend in ten years, which will reflect in the Centre’s budgetary calculations in FY23. Its board decided to maintain the contingency risk buffer at 5.5%.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:17:"Subhajit Dasgupta";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-05-21T05:15:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:3997:"
The Reserve Bank of India (RBI) on Friday decided to transfer its FY22 surplus of Rs 30,307 crore to the government, the lowest dividend in ten years, which will reflect in the Centre’s budgetary calculations in FY23. Its board decided to maintain the contingency risk buffer at 5.5%.

The dividend is less than a third of the central bank’s generous transfer of Rs 99,122 crore for FY21, which was, in fact, based on the RBI’s surplus over a nine-month period through March 2021, as it had decided to align its fiscal year with that of the government.

Low payout by the central bank, partly due to its heavy investments in reverse repo operations, will drag down the government’s budgeted receipts of Rs 73,948 crore on account of dividends from the RBI, state-run banks and other financial institutions in FY23, unless surplus transfers from other entities rise sharply.

In fact, the RBI’s transfer would make up just 41% of the government’s budgeted receipts for FY23, against almost 98% of the revised estimate for FY22.

The drop in the RBI dividend comes at an inopportune time when the Ukraine conflict has raised the subsidy payout by the government and threatened its bid to contain fiscal deficit at the targeted level of 6.4% in FY23, against 6.9% in FY22.

Of course, there are still some bright spots. State-run banks recorded a net profit of Rs 48,874 crore in the first three quarters of FY22, greater than that of Rs 31,820 crore in the entire FY21, which was the highest in five years. Given that their capital adequacy remains sound and provision coverage has improved, the government has a greater scope to nudge them to cough up much higher dividend this fiscal.

However, since the government may have to spend an estimated Rs 1.8 trillion over and above the FY23 Budget Estimate on fertiliser and food subsidies, this isn&#8217;t a good time for a revenue slippage on any account. Of course, as finance secretary TV Somanathan said, the additional outgo could be offset by a steep jump in net tax receipts and higher disinvestment revenues.

Elevated dividend transfer by the RBI, especially since 2018-19, had offered some cushion to the government, as it battled an economic slowdown even before the pandemic spread its tentacles.

Thanks to the Bimal Jalan committee, which reviewed the RBI’s economic capital framework (ECF), the central bank transferred an all-time high amount of Rs 1.76 trillion to the government in 2018-19 (July-June).

The RBI typically pays the dividend from the surplus income it earns on investments and valuation changes on its dollar holdings, and the fees it gets from printing currency, among others. The rupee depreciation against the dollar in recent months may also have weighed on the surplus transfer.

Madan Sabnavis, chief economist at Bank of Baroda, said the RBI would have incurred a decent cost due to heavy investment in reverse repo auctions in FY22. Reverse repo auction of Rs 6-7 trillion (at an average cost of even 3.5%) would mean a cost of Rs 21,000-24,500 crore, he said.

The lower payout by the RBI would mean “a large part of profit of PSBs and financial institutions will now have to be transferred to make good this budgetted number (Rs 73,948 crore), or else there will be a slippage&#8221;, Sabnavis said.

According to Saugata Bhattacharya, chief economist at Axis Bank, lower dividend is likely to exert some pressure on government finances. The Centre will now need to generate additional resources to fund the requirement of higher government expenditure, including for subsidies, he added.

Icra chief economist Aditi Nayar said: “The amount of surplus to be transferred by the RBI to the government appears to be modestly lower than the budgeted amount. However, the tax receipts are expected to substantially surpass the budgeted level, absorbing the impact of the former.”";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:69:"https://www.financialexpress.com/wp-content/uploads/2022/05/RBI-8.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:73:"Candidates may go through the official website to check their scorecards.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:77:"https://www.financialexpress.com/wp-content/uploads/2022/05/RBI-8-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:97;a:6:{s:4:"data";s:23:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:49:"HDFC Bank makes rural banking a separate vertical";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:116:"https://www.financialexpress.com/industry/banking-finance/hdfc-bank-makes-rural-banking-a-separate-vertical/2531750/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Fri, 20 May 2022 08:38:55 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:4:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:14:"banking sector";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:3;a:5:{s:4:"data";s:9:"HDFC Bank";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:116:"https://www.financialexpress.com/industry/banking-finance/hdfc-bank-makes-rural-banking-a-separate-vertical/2531750/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:308:"The rural banking vertical will expand the bank’s distribution in the rural areas, will enter strategic partnerships with outside entities, launch new products and services which will meet the needs of its rural customers and provide a one-stop shop solution to farmers and encourage financial literacy. 
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HDFC Bank said on Thursday that it will open 1,060 branches in semi-urban and rural areas in the current financial year. The bank has created a separate rural banking vertical in order to meet this push in the rural areas, the lender said.

The rural banking vertical will expand the bank’s distribution in the rural areas, will enter strategic partnerships with outside entities, launch new products and services which will meet the needs of its rural customers and provide a one-stop shop solution to farmers and encourage financial literacy.

The bank has partnered with the Institute of Rural Management based in Anand, Gujarat, to create ‘Rural First’ strategy to track consumer behaviour, customer satisfaction, service design, and service delivery. It will focus on services related to rural transport economy, forest economy, agricultural economy and other allied activities.

Currently, the bank has 3,171 branches of its 6,342 branches in semi-urban and rural areas and the remaining 50% in metro and urban areas. Last month, HDFC Bank had said that it will open 150 branches in Uttar Pradesh alone. In the financial year ended March 2021, the bank&#8217;s advances to agriculture and allied activities rose by almost 11% to `94,977 crore, as per information in the bank’s annual report for the year.

“This is both a challenge and an opportunity and I am very excited to take this up. For many years now, the bank had 50% of its branches in semi-urban and rural areas. With this enhanced focus, we will open more branches this financial year in semi-urban and rural areas. While branches are touch-points, we are working on meeting rural needs holistically, by creating products specially designed for these markets,” Anil Bhavnani, senior executive vice-president and national rural banking head, HDFC Bank, said.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:87:"https://www.financialexpress.com/wp-content/uploads/2022/05/hdfc-bank-rural-verical.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:138:"Currently, the bank has 3,171 branches of its 6,342 branches in semi-urban and rural areas and the remaining 50% in metro and urban areas.";s:7:"attribs";a:1:{s:0:"";a:1:{s:4:"type";s:4:"html";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}}s:9:"thumbnail";a:1:{i:0;a:5:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:3:"url";s:95:"https://www.financialexpress.com/wp-content/uploads/2022/05/hdfc-bank-rural-verical-300x167.jpg";s:5:"width";s:3:"300";s:6:"height";s:3:"167";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}}}i:98;a:6:{s:4:"data";s:22:" 
 
 
 
 
 ";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:5:{s:0:"";a:6:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:61:"Punjab &amp; Sind Bank’s net profit doubles to Rs 346 crore";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"link";a:1:{i:0;a:5:{s:4:"data";s:119:"https://www.financialexpress.com/industry/banking-finance/punjab-sind-banks-net-profit-doubles-to-rs-346-crore/2531535/";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:7:"pubDate";a:1:{i:0;a:5:{s:4:"data";s:31:"Fri, 20 May 2022 05:00:00 +0530";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:8:"category";a:3:{i:0;a:5:{s:4:"data";s:17:"Banking & Finance";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:1;a:5:{s:4:"data";s:8:"Industry";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}i:2;a:5:{s:4:"data";s:7:"Banking";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:4:"guid";a:1:{i:0;a:5:{s:4:"data";s:119:"https://www.financialexpress.com/industry/banking-finance/punjab-sind-banks-net-profit-doubles-to-rs-346-crore/2531535/";s:7:"attribs";a:1:{s:0:"";a:1:{s:11:"isPermaLink";s:5:"false";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}s:11:"description";a:1:{i:0;a:5:{s:4:"data";s:253:"Punjab &#038; Sind Bank doubled its net profit for the quarter ended March 31, 2022, to Rs 346 crore. The lender had net profit of Rs 161 crore in the year-ago period. Its profit before provisions too rose 72% on year to Rs 317 crore during the quarter.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:32:"http://purl.org/dc/elements/1.1/";a:1:{s:7:"creator";a:1:{i:0;a:5:{s:4:"data";s:17:"Subhajit Dasgupta";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:27:"http://www.w3.org/2005/Atom";a:1:{s:7:"updated";a:1:{i:0;a:5:{s:4:"data";s:25:"2022-05-20T05:00:00+05:30";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:40:"http://purl.org/rss/1.0/modules/content/";a:1:{s:7:"encoded";a:1:{i:0;a:5:{s:4:"data";s:1823:"
Punjab &amp; Sind Bank doubled its net profit for the quarter ended March 31, 2022, to Rs 346 crore. The lender had net profit of Rs 161 crore in the year-ago period. Its profit before provisions too rose 72% on year to Rs 317 crore during the quarter.

The lender’s net interest margin (NIM), however, declined by 27 basis points sequentially to 2.90% in Q4FY22. On a year-on-year basis, NIM improved by 71 basis points.

The bank reported a near 4% on year increase in gross advances to Rs 70,387 crore in Q4FY22 from Rs 67,811 crore in the year-ago period. Advances in the retail, agriculture and MSME sector grew 10.5% on year.

Retail loans grew 15.3% on year to Rs 11,737 crore while MSME advances grew 13.3 % to Rs 13,021 crore. Loans to corporate fell 2.3% on year to Rs 34,695 crore in March 2022 quarter. Corporate loans consist of 49.29% of the total gross advances. The bank&#8217;s priority sector advance and agriculture advance stood at Rs 31,178 crore and Rs 12,551 crore, respectively.

“…The bank continued its special focus on retail business as a result of which RAM (retail, agriculture and MSME) composition has improved from 48% to 51% while corporate advance has declined from 52% to 49% on Y-o-Y basis…the bank has also surpassed the regulatory targets of 40% and 18% in priority sector and agriculture credit, respectively,” S Krishnan, MD &amp; CEO of the Punjab &amp; Sind Bank, said.

On asset quality front, gross NPA ratio declined by 227 basis points sequentially to 12.17% in Q4FY22 from 14.44% Q3FY22 and 159 basis points on year from 13.76% in Q4FY21. Net NPA ratio, too, fell to 2.74% in Q4FY22, down from 3.01% in Q3FY22. The bank’s provision coverage ratio (PCR) stood at 87.89% in March 2022 against 82.89% as in March 2021.";s:7:"attribs";a:0:{}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";}}}s:29:"http://search.yahoo.com/mrss/";a:2:{s:7:"content";a:1:{i:0;a:6:{s:4:"data";s:0:"";s:7:"attribs";a:1:{s:0:"";a:3:{s:6:"medium";s:5:"image";s:3:"url";s:70:"https://www.financialexpress.com/wp-content/uploads/2022/05/bank-1.jpg";s:4:"type";s:10:"image/jpeg";}}s:8:"xml_base";s:0:"";s:17:"xml_base_explicit";b:0;s:8:"xml_lang";s:0:"";s:5:"child";a:1:{s:29:"http://search.yahoo.com/mrss/";a:1:{s:5:"title";a:1:{i:0;a:5:{s:4:"data";s:209:"The bank reported a near 4% on year increase in gross advances to Rs 70,387 crore in Q4FY22 from Rs 67,811 crore in the year-ago period. Advances in the retail, agriculture and MSME sector grew 10.5% on year.
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