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FINANCIAL NEWS IN A NUTSHELL

Yatheendradas C.k. at 09:55 PM - Jan 20, 2019 ( ) Views: 118

Some of the public sector banks are likely
to come out of the Prompt Corrective
Action (PCA) framework in next few
months on the back of improvement in
various parameters, Financial Services
Secretary Rajiv Kumar told. "If some
banks are performing well and they are
adequately capitalised as per the Basel
norms. Hence, capitalisaon will
facilitate them coming out of PCA. RBI is
seized of the maer,", He said. --Economic Times


The National Company Law Appellate
Tribunal has held that the lenders of
defaulng companies can iniate
corporate insolvency resoluon process
against corporate guarantors without
invoking CIRP for the principal
borrowers. A three member bench of the
appellate tribunal in a judgement said
that corporate guarantors are also
financial debtors. -Economic Times


NPA recognion is likely to get prolonged
ll the next fiscal year and can put Rs
5.24 trillion debt in FY20 at risk
increasing the potenal bad loan stress,
thanks to the recent RBI guidelines on
delivery of bank credit, says a report by
India Ratings. -Economic Times\


United Bank of India announced that it
would offer third party health cover to its
customers. It has entered into a
partnership with Star Health & Allied
Insurance Co for the same a few days
before. -Ecomomic Times


The SBI-led consorum of lenders is
waing for the SEBI to decide on a
bailout offer by Etihad Airways for the
financially stressed Jet Airways,
Chairman Rajnish Kumar said. -Moneycontrol.com


SBI said Hitachi Payment Services has
agreed to pick up 26% stake in SBI
Payment Services Private LTD, a card
acceptance and digital payment platform. After allotment of the shares, SBI
shareholding in SPSPL will become 74%
from exisng 100%, the bank said in a
statement. -Mobeycontrol.com


India has sacked 2 senior execuves of
Punjab Naonal Bank for allegedly
failing to prevent a $2 billion fraud. PNB
said the government had removed K. Veera Brahmaji Rao and Sanjiv Sharan
"from the office of execuve director"
with immediate effect. -Economic Times


SBI said it has raised $1.25 billion through
bonds from overseas market. The bank is
glad to announce that the issue received
an overwhelming response and saw
strong interest from investors across
geographies with a final order book in
excess of $3.2 billion across more than
122 accounts, SBI said in a statement. -Moneycontrol.com


Foreign investors have pulled out more
than ₹4,000 Cr from the Indian capital
markets so far in January, highlighng
their cautious stance towards the
country. This comes following a collecve
net inflow of over ₹17,000 Cr in the
capital markets —both equity and debt—
by Foreign Porolio Investors (FPIs)
during Nov and Dec. Prior to that, they
had pulled out a massive ₹38,905 crore in
Oct. -The Hindu


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