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FINANCIAL NEWS IN A NUTSHELL

Yatheendradas C.k. at 10:56 PM - May 29, 2019 ( ) Views: 72

Outgoing Finance Minister Arun Jaitley today requested PM designate Narendra Modi not to give him responsibility in the new Govt for the present. The new Government will be sworn-in on Thursday.
-Business Line

The RBI has increased the RTGS time window for customer transactions (initial cut-off) from 4.30 pm to 6 pm. This follows a robust year-on-year increase in the number of transactions by 8% to ₹1,335 crore in March 2019. The aggregate amount of transactions rose 12% year-on-year to ₹1,255.51 crore.
-Business Line

HDFC said it has disbursed subsidy of more than Rs 2,300 crore under the Government's flagship housing scheme  PMAY, benefiting over 1 lakh first time home buyers. The Co has disbursed subsidy amounting to over Rs 2,300 crore benefitting over 1,04,000 families under the Pradhan Mantri Awas Yojana (PMAY) credit linked subsidy scheme (CLSS), HDFC said in a statement.
-Economic Times

Lakshmi Vilas Bank’s net loss for the fourth quarter FY19 narrowed by 58% to ₹264 Cr against a net loss of ₹622 Crore recorded for the corresponding period last year.
-Business Line

SBI today said it will raise up to Rs 5,000 crore by issuing Basel III-compliant bonds.
-Moneycontrol.com

The IDBI Bank, under fire over its pile of NPAs, has invited expression of interest (EOI) to divest its entire stake in IDBI Asset Management (AMC) and IDBI MF Trustee Co.
-Business Standard

SBI on Tuesday put on sale 4 NPAs worth Rs 230 crore on a 100% cash basis, with reserve prices implying haircuts of up to 79% for the accounts.
-Financial Express

Nirav Modi is set to be produced before a court in London on Thursday as he fights his extradition to India in the nearly USD 2 billion Punjab National Bank fraud and money laundering case.
He has been lodged at Wandsworth prison in south-west London since his third attempt at seeking bail was rejected by Chief Magistrate at the last hearing at Westminster Magistrates' Court earlier this month.
-Economic Times

The Government is exploring the option of acquisition among the 3 public sector general insurance companies as part of a consolidation exercise, and a final call will be taken by the new Govt, sources said
-Economic Times

Venkataraman Janakiraman, independent director of IL&FS Securities Services Ltd. (ISSL), resigned last Friday for personal reasons at a time when scrutiny of the roles of the compliance team and independent directors has intensified.
-Economic Times

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