Banking

The crisis at Yes Bank had triggered scares on the health of private-sector lenders and led to deposit withdrawals. The Reserve Bank had to step in and assure depositors, including state governments like Maharashtra that had gone public with their plans to shift money, not to do so. … [Read more...] about RBL Bank’s deposit base sees about 8% reduction in Jan-Mar

Masses were only reviving and starting to gain their faith in the financial system of the country when we witnessed yet another setback, this time to the banking segment of the nation. Private banking player Yes Bank, which once had a dominant position in the country saw its NPAs climbing fast with the bank’s primary lenders currently undergoing steep valuation declines or started undergoing an investigation itself. … [Read more...] about How the Yes Bank crisis has caused a domino effect

"The bank has seen deterioration in asset quality due to corporate slippage, which we believe will accelerate after the recent lockdown, led by stress in retail and SME and some lumpy corporate stress (for e.g., Vodafone). Thus, we build in higher NPAs at 3.1 percent/LLP (loan loss provision) at 170 bps in FY21E," Emkay Global said. … [Read more...] about IndusInd Bank deposits shrink by 10-11%, brokerages see tough road ahead

Shares of IndusInd Bank rose nearly 2 percent while those of Eveready Industries hit a fresh 52-week high of Rs 157.60, jumping 8 percent in morning trade on BSE on August 10. … [Read more...] about IndusInd Bank up 2%, Eveready hits 52-week high as bank acquires stake in battery maker

State-run Bank of Maharashtra has slashed its marginal cost of funds based lending rate (MCLR) by up to 10 basis points for select tenors effective Monday. … [Read more...] about Bank of Maharashtra, Indian Overseas Bank slash MCLR by up to 10 bps