In the fiscal ended March 31, 2020, bank loans had decelerated to 6.14 per cent, a near five-decade low, due to slower economic growth, lower demand and as banks remained risk averse.

The remaining Rs 4,500 crore will be raised by way of additional Tier-1 and Tier-2 capital instruments with an inter-changeability option, the bank said in the release.

Union Bank received the stake after Andhra Bank was merged with the Mumbai-based lender, effective April 1.

The lender’s gross NPAs stood at 2.45% of gross advances as on March 31, 2020, up from 2.18% on December 31, 2019, while the net NPA ratio stood at 0.91% of net advances as on March 31, 2020, down from 1.05% on December 31, 2019.

The private sector lender had reported a net profit of Rs? 1,505.06 crore in the same quarter of the previous financial year.

The bank’s advances grew 15% y-o-y to Rs 5,71,424 crore as on March 31, with retail loans up 24% y-o-y to Rs 3.05 lakh crore, accounting for 53% of the net advances.

The Reserve Bank in October 2018 had barred the bank from granting or renewing any loan for six months and later extended the curbs twice.

The window was announced after the markets were roiled by news, last Thursday, of Franklin Templeton MF winding up six of its debt funds amid mounting redemptions. It will remain open till May 11.

This classification will require banks to make provisions of 100% of the total amount due to them as per Reserve Bank of India (RBI) guidelines.

Accordingly, all regulatory returns required to be submitted by such entities to the Department of Regulation can be submitted with a delay of up to 30 days from the due date.

Earlier in the week, the Reserve Bank had announced Rs 50,000-crore SLF-MF scheme to bailout the mutual funds facing redemption pressure.

According to sources, the RBI has conveyed to banks that there is no restriction for them to provide moratorium to NBFCs.

On Thursday, the RBI said banks would be eligible for regulatory benefits irrespective of whether they supported MFs with resources from the special window or otherwise.

The RBI had earlier extended the deadline for one-time debt restructuring of MSMEs from March 31, 2020, to December 31, 2020.

Warburg Pincus affiliate Dayside Investment Ltd and insurance firms ICICI Prudential Life Insurance Company, HDFC Life Insurance, and Bajaj Allianz Life Insurance will infuse capital in the lender.

The meeting will take stock of implementation of several steps announced by the RBI, including moderation in interest rate and its transmission, as well as liquidity infusion measures to support the industry.

Implementation of three months moratorium on repayment of loan instalments announced by the RBI was also reviewed during the meeting.

The RBI, in a press release, said 'financial position of the bank is highly adverse and unsustainable'.

The number of NPA accounts rose from 2,08,035 as on March 31, 2014, to 6,17,306 as of December 2019.

The state-owned bank launched an emergency credit line to provide funds to its existing MSME and corporate borrowers in the last week of March, soon after the lockdown was announced.

As per the bank's website, it had deposits of Rs 485.56 crore, loans of Rs 161.17 crore and a negative networth of Rs 239.18 crore.

Delhi high court, in an interim order on May 1, has allowed HDFC Bank to deduct a Rs 90-crore loan installment from Indiabulls' fixed deposit which it holds as security.

Banks could review extending the moratorium to non-banking financial companies (NBFCs) after a meeting with the Reserve Bank of India (RBI) on Saturday.

AU Small Finance Bank (SFB) reported an increase of 3.5% year-on-year in PAT to Rs 120 crore (our estimate: Rs 180 crore), affected by higher provisions of Rs 150 crore.

The government can issue recapitalisation bonds, or the Reserve Bank of India's (RBI) huge reserves of over USD 127 can also be dipped into to help the state-run banks' recapitalisation needs, it said.

The loan has been disbursed under a refinance scheme by Nabard from its own resources and was given this week, it said.

Having come up with emergency credit lines to help businesses weather the Covid storm, banks are seeing little demand for fresh credit at this stage.

Kapoor, former MD and CEO of Yes Bank, was arrested by the ED on March 8 under the Prevention of Money Laundering Act (PMLA). He is accused of sanctioning loans to certain firms against kickbacks.

State-owned Indian Overseas Bank and Bank of Maharashtra on Wednesday announced a reduction in their marginal cost of funds based lending rate (MCLR). "Our Bank has revised the MCLR w.e.f 10.05.2020 until further review," Indian Overseas Bank said in a regulatory filing. The Chennai-headquartered lender said the MCLR for the benchmark one-year tenor loan has […]

This will lead to the share of retail and small business loans to grow to a level of 60 per cent in the next two years from the current 44 per cent, he said.

The communication further stated that Covid-19 is wreaking havoc on the economy which, in turn, will impact a financial services firm like KMB.

Analysts say that some of these accounts availing moratorium could very well have turned defaulters in the ordinary course of business, but the moratorium delays recognition by a few months.

In an interview with CNBC TV18, Kumar said the time is right to set up a structure, along the lines of a bad bank, given there are adequate provisions for existing non-performing assets (NPAs).

Banks are flush with liquidity, but they also have to look after the interest of depositors.

The bank has provided moratorium to around a third of its customers, RBL Bank MD & CEO Vishwavir Ahuja said in a conference call after results.

Some schools of thought suggest that the eruption pushed Earth into volcanic winter that lasted as long as six years and the planet Earth had to endure a longish cooling period of a thousand years.

Gangetic dolphins, gharial and freshwater turtles are among the major species found in the region. More than 75 per cent of the critically endangered Gharial population is based in the sanctuary.

The number of registrations before PM Modi's mention was hovering at only 74,000 which jumped to 1,53,000 after PM's mention.

The advantage of Economic Decarbonisation is that it intertwines with the modernization of all industries. Excessive dependence on fossil fuels does more damage than good, it may guarantee temporary energy security but the side-effects are way too disastrous to continue using this as ‘energy- steroids’.

Have you ever wondered why the moon is always there next to Earth? How did it come into existence and what is its relation to the Earth?

The study, published in the journal Environmental Science & Technology, noted that rapid testing kits using paper-based devices could be used on-site at wastewater treatment plants.

Emission of the green house at the current levels will cause catastrophe in most parts of the world with some ecosystems expected to collapse by 2030.

According to the study published in the Indian Journal of Medical Research, there is no evidence or research to claim that these bat coronaviruses can cause disease in humans.

Fusarium wilt with tropical race 4 (TR4) strain is a soil-borne fungal disease that affects mainly cavendish varieties of banana.

Underscoring that the situation in Kashmir is bigger than party issues, People’s Democratic Party (PDP) chief Mehbooba Mufti refused to meet a delegation of her party members.

Three Indian engineers held by the Taliban in Afghanistan since May 2018 have been freed by the militant group in exchange for 11 of its top members from Afghan jails, according to an Afghan media report on Monday.

Formula E uses electric vehicles and hence these lithium-ion batteries go through the perfect endurance tests, with learnings percolating to road-legal vehicles in future.

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The Dubai & MENA: 7th International Arbitration & Corporate Crime Summit will be held at Shangri-La Dubai Hotel on 22 January 2020.   The event will bring together international and local speakers to present the most up to date information on Arbitration and Corporate Crime.  It will also be an excellent opportunity to catch-up and meet fellow legal professionals in the region.

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Pakistan Supreme Court has passed an Order on 30th April to make amendments in the Gilgit Baltistan Order of 2018 to conduct the general assembly elections in that area.India has lodged a strong protest with Islamabad against these directions of the

Subordinate Courts to conduct hearing of less urgent matter as well, says MP HC; interim bail period also extended by 45 days.A circular has been issued by the Madhya Pradesh High Court, to expand the Scope of matters to be heard by the lower courts