Banking & Financial Services

Yes Bank's stock had soared 31 per cent on February 14 after the bank disclosed the RBI's observation in clearing it of divergence in NPA reporting.

Gross bad loans as a percentage of total loans stood at 24.72 per cent at end-December compared with 24.98 per cent in the previous quarter.

Dewan Housing Finance shares opened lower at Rs 104.00 apiece on the National Stock Exchange (NSE) and slumped to an intraday low of Rs 103.95 in early trade, from their previous close of Rs 111.20.

Regulatory bodies would have one nominee as its member, while the finance ministry will have rights to nominate two officials in the authority.

The government holds a 9.56% stake in the private sector lender through state-owned Specified Undertaking of the Unit Trust Of India

Reserve Bank of India (RBI) imposed a penalty of Rs 2 crore on government-owned Corporation Bank.

In a surprise move on Thursday, the RBI not only lowered its key lending rate by 25 basis points (bps) to 6.25 per cent but also turned accommodative.

Banks price their benchmark loan rates, known as the marginal cost of funds based lending rate (MCLR), mainly based on the cost of deposits.

The government said it has decided that all of its employees need to send an intimation if total transactions in shares, securities, debentures, mutual funds schemes and the likes exceed six months' basic pay during a calendar year.

The move comes days after government pledged 75,000 crore rupees to support poor farmers and reduced the tax burden for the middle class.

In a surprise move, the Reserve Bank of India (RBI) on Thursday reduced the repo rate by 25 basis points or 0.25 per cent. The central bank also changed its policy stance to "neutral" from "calibrated tightening". The repo rate - which is the key interest rate at which the RBI lends short-term funds to commercial banks - now stands at 6.25 per cent. The cut in repo rate may lead to lower EMIs for home and auto loan borrowers, say analysts. The central bank had last lowered the repo rate in August 2017. The government said the policy action would aid economic growth and employment opportunities.

The Reserve Bank of India (RBI) will today conclude the three-day meeting of its Monetary Policy Committee (MPC) and release its sixth bi-monthly statement for 2018-19. Today's statement from the central bank will mark the first under Governor Shaktikanta Das, who took office nearly a week after the last policy meet on December 5 by his predecessor Urjit Patel. With inflation well within the RBI's medium-term target, analysts will closely watch any announcement on the key lending rate - or repo rate - and signs of easing policy in the coming months. Many economists expect the RBI to maintain status quo on the rates while some see a change in policy stance.

The Reserve Bank of India imposed a penalty of Rs 2 crore each on UCO Bank and Axis Bank for non-compliance with an earlier circular.

Punjab National Bank (PNB), India's second largest government-owned lender by assets, reported a surprise profit in October-December quarter, aided by lower provisioning for bad loans. Punjab National Bank's net profit rose 7.12 per cent annually to Rs 246.51 crore, according to a regulatory filing by the lender. The net profit surprised analysts amid expectations of a net loss. Analysts had on an average estimated the bank's loss at Rs 1,063 crore, news agency Reuters reported citing Refinitiv Eikon data.

At Thursday's MPC meeting - the first for RBI Governor Shaktikanta Das - it will be tough to balance desire to support economic growth with the need to contain inflationary expectations.