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FINANCIAL NEWS IN A NUTSHELL

Yatheendradas C.k. at 09:26 PM - Sep 11, 2019 ( ) Views: 60

With the RBI mandating banks to
link fresh retail and SME loans from
Oct 1 to an external benchmark, the
pressure is now on housing finance
companies and non-banking finance
companies to match the rates. Most
HFCs point out that linking home
loan rates to an external
benchmark like the repo rate may
not be feasible for them, as they
raise funds from a number of
sources. But, the question is then
how to get customers who may
choose to go to banks for a home
loan.-Economic Times


Mahabaleshwara M S, MD & CEO of
Karnataka Bank, has been inducted
to the managing committee of
Indian Banks’ Association (IBA). This
was announced during the annual
general meeting of IBA in Mumbai .
A press release by the bank said
that Mahabaleshwara has been
elected unopposed from the private
sector member banks’ category.
-Business Line


Canara Bank is expecting over Rs
1,000 crore through disinvestment
of its about 30% stake in its arm
CanFin Homes. MD & CEO R A
Sankaranaryanan said there were
about 12 suitors, including foreign
players and domestic NBFCs, to pick
up the stake. The bank is looking to
completely exit from the housing
finance co. -Business Line


SBI has decided to rework its
repo-linked home loan product and
discontinue an existing offering
after the RBI announced guidelines
for external benchmark-linked
floating rate loans. “We are
reworking the product ,” P.K.
Gupta, MD, SBI, told-Business Line


Life insurance companies have
approached the IRDAI for
permission to start selling
indemnity-based health insurance
products once again. The IRDAI had,
in 2016, issued new health
insurance regulations, under which
it had barred life insurers from
selling indemnity-based health
insurance products, either as an
individual or a group policy, and
also from offering single premium
health insurance products under
the unit-linked platform.-Business Line


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