Axis Bank asset quality may deteriorate more than expected, says Moody’s

Global ratings agency Moody’s on Thursday said private lender Axis Bank‘s asset quality may deteriorate further and more than what was previously expected over the next 12-18 months. In addition, compared to the other rated Indian banks, the bank has been a laggard in recognising its asset quality problems, a credit negative for its credit… Continue reading Axis Bank asset quality may deteriorate more than expected, says Moody’s

HSBC appoints Jayant Rikhye as CEO India

The Hongkong and Shanghai Banking Corporation (HSBC) on Monday appointed Jayant Rikhye as the Chief Executive Officer for India operations. He will take charge on December 1 and will be succeeding Stuart Milne, who has held the position for five years. Rikhye joined the bank in 1989 and is currently the head of international markets,… Continue reading HSBC appoints Jayant Rikhye as CEO India

AIF-II cheer as bank taps open

The Reserve Bank of India (RBI) has allowed banks to resume investing in AIF-II or Category-II Alternate Investment Funds (AIFs). It means that banks can again invest in equity and debt funds of private equity (PE) firms. This follows a master risk circular by the RBI on Monday which provides a cap on every type… Continue reading AIF-II cheer as bank taps open

Vikram Akula back into microfinance biz through Vaya Finserv

Hyderabad-based Vaya Finserv is set to launch microfinance operations, also marking the comeback of Vikram Akula into the sector he’d substantially influenced not long before. Debuting as a banking correspondent (BC) in 2015, Vaya is opening its first set of 15 microfinance branches this week in Bihar, a state where it sees a big need… Continue reading Vikram Akula back into microfinance biz through Vaya Finserv

Banks play ‘mind games’ to woo customers

Pradipta Sarkar, 37, is saving Rs 10,000 every month, one-fifth of his take-home salary, in a fixed income-linked systematic investment fund (SIP) to build his retirement corpus. But being a soccer fan, his dream is to cheer for his favourite team, Germany, from stadia in the World Cup matches some day. Would Sarkar, an information… Continue reading Banks play ‘mind games’ to woo customers

All 1.55 lakh post offices to offer payments bank service

India Post Payments Bank is gearing up to provide its financial services through all of 1.55 lakh post offices and 3 lakh employees by the end of 2018 — which will create India’s second-largest payments bank in terms of reach. “We will have post bank footprint in every district by March 2018, and before the… Continue reading All 1.55 lakh post offices to offer payments bank service