RBI gets twice the bids for Rs 50,000-crore OMO
The Reserve Bank of India (RBI) on Tuesday received bids exceeding twice the notified amount in its open market operation (OMO) purchase from banks. The apex bank got bids worth more than Rs 1.01 lakh crore, against the notified amount of Rs 50,000 crore. The purchase of government securities will infuse much-needed liquidity ahead of advance tax and GST payments, which are expected to drain funds from the banking system.

Dhanlaxmi Bank eyes double-digit growth from next fiscal: MD & CEO
The Thrissur-based Dhanlaxmi Bank has charted out a road map for the next three years to increase its business from the current ₹27,000 crore to ₹45,000 crore. Ajith Kumar K.K., Managing Director and CEO told businessline that the bank is looking at a double-digit growth from the next fiscal, as the rising trend in business during this year is expected to continue compared to the single-digit growth achieved during the past many years.

Awaiting auditor report, but uncomfortable with corporate governance at IndusInd Bank: Ashok Hinduja
Mumbai: The discrepancies found in IndusInd Bank’s derivatives portfolio, made over a period of 5-7 years and leading to an adverse impact on its net worth by ₹1,530 crore, has made its promoters uncomfortable about the corporate governance framework at the bank, Ashok P Hinduja, Chairman of IIHL (IndusInd International Holdings Ltd), told businessline in an exclusive interaction.

IndusInd Bank’s black box moment: What investors must decode before buying the stock
Investing, like flying, is all about managing risk. And when things go wrong, the way an industry responds determines its long-term safety.

Ready to increase stake in IndusInd Bank after getting RBI approval, says Hinduja
IndusInd International Holdings Ltd (IIHL), the promoter of IndusInd Bank, is ready to increase stake in the bank to up to 26 per cent, once it gets approval from the Reserve Bank of India (RBI), IIHL Chairman Ashok P Hindua told businessline. He talks about CEO succession at the bank, appointing IIHL nominees on the bank’s Board and the promoter’s intent to infuse further capital in the bank, subject to regulatory approval.

‘You have to be smart about where you are lending’, says Axis Bank’s Amitabh Chaudhry
Axis Bank MD & CEO Amitabh Chaudhry believes the Citi acquisition has brought the bank more than it had expected in terms of business and retained customers. Chaudhry tells Shobhana Subramanian that deposits are a challenge and that until there is enough durable liquidity in the system, rates on deposits are unlikely to come down. Excerpts:

IndusInd Bank hasn't sought any capital; opportune time for promoters to up stake: Ashok Hinduja
IndusInd Bank hasn’t sought any capital; ‘opportune time’ for promoters to increase stake, says Ashok Hinduja 
The Financial Express

No change in strategy on lending to NBFCs despite lower risk weights: YES Bank MD
What will be the capital gain due to lower risk weights?

Piramal finance partners with Punjab & Sind bank to boost lending in semi-urban & rural areas
 

Indusind Bank's funding cost shot up 15bps in a week amid derivative loss
 

Promoters will infuse capital into IndusInd Bank if needed: Ashok Hinduja
Promoters stand ready to inject capital into IndusInd Bank if necessary, said Ashok Hinduja, chairman of IndusInd International Holdings Ltd (IIHL), said on Tuesday. However, with the bank’s capital adequacy at comfortable levels, he stressed, there is no immediate requirement for fresh funds, nor has the bank sought additional capital. IIHL, which currently holds a 15 per cent stake in IndusInd Bank, has been awaiting regulatory clearance to raise its stake to 26 per cent. Hinduja said this is “an opportune time” for promoters to increase their stake, as the bank’s shares have taken a hit following last week’s disclosure of discrepancies in its derivatives portfolio, which could dent the bank’s net worth by more than 2 per cent. 

HUDCO aims for zero NPA; $500-million fundraise from Japan underway: CMD Kulshrestha
New Delhi: Housing Urban Development Company (HUDCO), the Navratna CPSE under the Ministry of Housing and Urban Affairs (MoHUA), which recently got an NBFC licence, is planning to “become a zero-NPA (non-performing asset) company”, that is it will have no bad loans in its books, over the next 18-odd months, following resolution of ₹1,200-odd worth of projects at the National Company Law Tribunal (NCLT) and ₹400-odd crore at the Debt Recovery Tribunal. The company is seeking fundraise from Japan, equalling $500 million (over ₹43,000 crore), at a lower cost of over 100 basis points (at least one percentage point difference), as part of its growth strategy, Sanjay Kulshrestha, Chairman and Managing Director, HUDCO, told businessline.

Secure, rewarding, and flexible - why AU NOMO credit card is a game-changer for new credit card users
 

IndusInd Bank's liquidity adequate, capitalisation strong: Rating agencies
 

Allianz deal brings little cheer for Bajaj Finserv’s shareholders
The Bajaj Group and Allianz SE are finally parting ways after 24 years. Bajaj will buy Allianz's 26% stake in its insurance business: Bajaj Allianz General Insurance Co. Ltd and Bajaj Allianz Life Insurance Co. Ltd.

5 critical mistakes to avoid when taking a loan from fintech companies
Fintech firms have in recent years transformed lending in India with fast, convenient, and largely unsecured loans to crores of borrowers. Leading fintech companies such as Paytm, Cred, MoneyTap among others charge different interest rates depending on the profile, credit score, history of repayment etc., of borrowers. 

Paytm Money approved as research analyst by SEBI
Paytm Money receives SEBI nod to offer research services, shares surge
The Financial Express

Razorpay targets 1.5 lakh exporters on Amazon's Global Selling Platform
 

Fintech boost. Government sets up inter-ministerial-industry panel on fintech, DFS Secretary to head Panel
The government has set up an  inter-ministerial-industry committee on fintech (IMICF) to look into entire gamut of issues that affect growth of fintech sector and suggest long term strategy for its development.  The Panel, which is being chaired by DFS Secretary M Nagaraju, will also look into how fintech has influenced the broader banking and financial services industry, identify obstacles that hinder growth, and analyse global best practices in governance and regulation, official sources said.